It is well known that the investing world is not particularly a female medium. In light of the International Women’s Day, it is important to talk about why so many women still don’t have their money invested. Many still believe they don’t have what it takes to start investing, like money. Or simply think they are not good at it.
But in recent years things started to change. More and more women are jumping on board the investment bandwagon and they are showing very positive outcomes.
Why Women Don’t Invest
Women are usually inclined to think that investing is for people with big bucks. And mostly men. This coupled with a heavily male-dominated industry of financial advisors, makes investment something almost inaccessible.
The fact that women still have to deal with gender gap creates yet another gap: gender investing gap. Fewer women invest their money even though they have a lot more to lose than their male counterparts.
Why Women Should Start Investing Now
The exact reason why women earn less (and tend to live a lot longer) makes it the perfect motivation for women to start investing as soon as they can. Living with a high disparity between long hours and less pay means that women should be taking the leap to invest their money in more active growth investments.
Money sitting in your savings is usually not giving you enough returns to support you through retirement. So investing should be definitely considered if you will be relying solely on your income. With many women outliving their partners, but still having a high superannuation gap, making your money work harder for you should be a priority.
And the good news is that women are showing to be great investors, outperforming men by 0.94% according to “Boys Will Be Boys: Gender, Overconfidence, and Common Stock Investment.”
How Can You Start Investing
Investing can be as easy as changing your investment options with your superannuation provider (or changing it altogether) or having a financial advisor guide you through the way. The options are growing rapidly in the industry with many tackling the opportunity to help women grow their wealth.
What’s even better? According to several studies, women tend to be better investors as they research better and trade more conservatively. Also, they are more patient sowing higher returns in the long term.
The financial industry is finally catching up to provide better and more accessible information to help women grow their wealth and build a safe retirement. The time for women to invest is now.
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