Why a separate section to talk about Women and Investing?
Because my experience has taught me that often women make decisions for different reasons and in different ways then men do. Especially when it comes to Financial Decisions. Have I caught your attention?
This is a list of some of the ways in which advising women about their investments requires a different mindset and a different set of skills.
- Women often make decisions based not only on logic but also on emotions. And this is a postiive trait. Women's emotional senses tend to be highly tuned and most often very accurate. Their gut reactions are highly trustworthy.
- Women are very often more conservative than their male counterparts. It is an evolutionary gift to human kind and one of the reasons our species thrived… after all, women never knew if and when a male would return from a hunt or a battle. Women are careful and protective of resources. Evolution has trained us to be this way.
- Women live longer than men. Living longer costs more money and needs greater resources committed to the future as opposed to the present. In English… it requires more savings to live longer. When you couple this with being more conservative and having less tolerance for risk , it means women face a heavier burden when it comes to saving for retirement.
- Women tend to care for the family all their lives, often at the expense of their own well being. In retirement , being too generous with family and not reserving enough resources for yourself to last your lifetime can cause financial problems for everyone in the future. This calls for constant monitoring of the financial plan and having a trusted advisor to help you balance what is best for your family and what is best for you in the long run. A trusted advisor can help women to remember to look after themselves so the whole family can feel confident in their individual long term financial plans.
If any of these comments ring true with you because you are a women or because you have women in your life that you care about, then it is logical to ask this - How are you and/or your financial advisor both honouring and planning for the special challenges that women can face in retirement?
Ladies and Gentlemen, let me help you design a family financial plan that recognizes and honors a woman’s special and different investment needs. Her plan will very likely be different- so let’s be sure it is.
Click here to read more about Health, Money and Retirement and the Different Needs of Men and Women
Contact me to discuss your unique financial needs.