Do Not Believe the Cliche that Women Don’t Know What They’re Doing When it Comes to Investing
Women are interested in finance and are able investors.
CITE: Investopedia.com
Somewhere along the line, it became conventional wisdom that women do not care about finance, do not understand it and would rather spend their time getting pedicures. This is an interesting generalization considering that in many households the woman handles the finances, pays the bills and is in control of the budget.
It is a cliche that women don’t care or understand finances and furthermore it is a misnomer that women only want security and exercise caution when it comes to money, while men are the daredevils.
Did you know that in 2007, when the economic crisis struck, females did four percent better than males when it came to hanging onto their investments?
It is true, that women are more interested in areas such as ethics, ecology and micro-credits but when push comes to shove these concerns do not always have a bearing on the actual decision to invest or not to invest, according to Christine Schmidt of Credit Suisse.
Women investors do not change their financial portfolios as often as men do but women’s financial strategies often lead to a more stable performance than those of men.
Women do, in fact, make risky investments (38 percent) but not as often as men (45 percent.) This, however, does not reveal an inherent fear of making risky investments on the part of women. Women say the would take take more risk if they had more money, which makes sense. Women possess about half as much money to invest as do men, which leads them to be circumspect.
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MY TAKE:
In the past, women weren’t given access to finances and didn’t have much knowledge about it but that has all changed and anyone who believes otherwise is behind the times. A stockbroker who doesn’t understand this is going to lose out on a good customer. Granted, women may approach investing differently then men do – and as it turns out that has served them well – but a stockbroker needs to understand that there are differences in the understanding and managing of investments when it comes to women.
There are many highly-educated, career women at this time, who are making decent money, and often living on their own or as single parents, who want to invest their money and do invest. Studies shows that women invest quite well.
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