Women already get the short end of the stick.
We already make less throughout our lives than our male counterparts for the same amount of work.
To top it off, straight and married women often get stuck bearing the brunt of raising kids. From packing lunches and driving kids around, that burden often falls on you.
Of course, women of color and those in the LGBTQ community have their own struggle in the world of entrepreneurs too.
That’s why investing in women is so important: it gives you the opportunity to take charge of your own wealth. By investing and capitalizing on the right opportunities, you can make “women and wealth” sound as natural as peanut butter and jelly.
Women and Investing: 7 Tips You Need to Know
Investments aren’t options women have thrown in their paths too often. We could spend time pondering the reasons for this, or we could contemplate women and invest by looking at these great tips.
From retirement investment to stocks and bonds, it’s time to think of women and wealth in the right light. It’s time to sit in the driver’s seat.
1. Immerse Yourself in Training and Education
There are a few problems with many webinars and seminars under the banner of “investing for women.” For one thing, they’re usually run by men or tend to offer condescending tips.
At the same time, education and training are extremely important. Do you know any successful lady investors? Ask them for advice. If they can’t provide it themselves, they can probably point you in the right direction.
Do a Google search for local seminars and online webinars that offer training. Check out the people leading them. Are they a stock marketing company or successful investor? Make sure they don’t have any anterior motives.
2. If Someone Gives You a Hot Tip, Don’t Listen to Them
If you’re new to investing, you might not realize that you need to watch out for this one because it can take many forms. If someone is “on to something” or absolutely sure about the next big Apple stock, don’t listen to them.
3. Ask Your Employer about Opportunities on Investment for Women
Depending on where you work, you may be able to find opportunities and training in your own backyard. Many companies also offer seminars and educational training – take advantage of this. You could also talk to your employer or high-level employees about how they invest. You might be surprised.
4. Seek Professional Advice
Investing isn’t something you can learn overnight. In fact, some people never get it right. When in doubt, look for an experienced financial advisor to help. He or she can track your income, expenses, debts, and cash flow while offering advice for potential investment opportunities.
Again, it’s still a good idea to ask around for a recommendation from people you trust. If you find a financial advisor that vibes with your style, you might be able to come up with some interesting investment ideas together.
5. Invest in Yourself First
Women have a bad habit of putting everyone else first – which isn’t necessarily a bad thing. When it comes to women and investing, don’t make this mistake.
It’s tempting for a lot of women – and parents in general – to invest in their kid’s college fund before thinking about their own retirement. You’ve cared about everyone else your whole life: it’s time to put yourself first this time.
6. Keep Your Cool (It’s Harder Than It Sounds)
If you do a Google search, you’ll probably find a few blog posts that tell women not to get overly emotional when they start investing. While condescending, this advice is pretty sound for anyone regardless of gender.
It’s very tempting to sell off when the price is high and buy up when you see a dip. This isn’t always the best decision. Again, that’s why educating yourself about particular markets and options is so important.
7. Research, Research, Research
“Investing” is a very broad term – and rightfully so. Like any broad subject, you can’t know everything all the time. It takes years of research to become a self-declared expert (if that’s what you’re going for).
Pick one or two investment opportunities and research as much as you can: get super niche if the field is broad. Instead of studying tech stocks, look for specific types of tech stock to study.
Make the Most of Your Money
Gender aside, the best thing for anyone to do is educate themselves and do continuous research.
Investing is a dynamic process: the strategies and options that do well today may not work in a few years.
Markets change and regulations change. Researching investment for women is perhaps even more important than men because we often don’t have the same opportunities presented to us.
Feature image via Property Guru
The above article was researched and written by the editorial staff at WomensWealth.Money.