Why Women Make Better Investors
Plain and simple – Women make better investors because they think harder about the choices they make. In general, women don’t take risks as easily as men do. Men are more arrogant and have the I know what I’m talking about attitude where women need to think, research, rethink, and research some more.
This lends to more sound all in investments from women. We’ve been long conditioned women are not capable of such important business decisions (for God’s sake, it used to be illegal) thus causing women to be reluctant to put their money on the line. Well-rounded in smart.
Asking good questions is smart. Taking control is smart. Stop ducking and covering. Get out there with these 5 steps to leverage and own your natural ability. Invest wisely for yourself by approaching the process on your terms.
First, think about your money as your favorite pair of shoes you wear everyday, not as uncomfortable heels you wear on fancy occasions.
Then remember you’re the buyer. You decide from who you want to buy. And interview as many financial planners as you want.
Third, look for someone who has a deep understanding and appreciation for financial planning. Find someone who likes to teach and who likes your questions.
Fourth decide who you will work with and do a comprehensive financial plan. Financial plans are tools for understanding your current state, mapping out a process based on your priorities, and providing a bench mark for assessing progress. Meet quarterly. And decide at the end of each year if your adviser earned your business for another year.
Finally more valuable than jewelry parties, invite a small group of women to join you and an financial expert for wine and discussion, and talk about your money, your life, what financial security means to you, fears of not having enough, the market, and the economy.
Make it real. Own it.