Investing 101 Series: Introduction
Updated: Feb 1
Investing can seem daunting at first, between the Wall Street lingo, the 24h news cycle and the meme stocks, but it doesn’t have to be. The key is to just start and keep it slow and steady – think The Tortoise and the Hare. This Investing 101 Series will help you decipher the lingo and become comfortable with managing your own investments, from opening accounts to buying securities. In due time, you will find what works for you and determine what kind of investor you are. Whether you choose the DIY investing route or not, the knowledge you will acquire in this Investing 101 Series will allow you to make informed decisions and have more fruitful conversations with your financial adviser or financial planner.
Countless articles and studies point out, time after time, that women lack the confidence to manage their money or their families’ finances. Even women with high levels of education and who are well-advanced in their careers still take a backseat to managing family finances. These headlines are a reminder that women need to take control of their finances and there is no better place to start than with education.
~ Knowledge is Power ~
There are many reasons why women should get comfortable in the driver’s seat of their finances. For one, women tend to outlive men in most countries, which means at some point women will have to be in charge. Secondly, the unfortunately high rate of divorce means that a certain number of women will be forced to manage their own finances. Women in particular experience greater financial impacts from divorce or separation.
There are studies and research that may give you pause and think twice about who should manage family finances. In 2016, behavioral financial expert Daniel Crosby, in his book The Laws of Wealth (2016), found that women tend to outperform men in both professional and retail investment. Since then, there have been numerous studies that have corroborated these findings. Interesting, to say the least.
Women are generating an increasing amount of wealth and there is no reason why they shouldn’t be empowered to make their own financial decisions. For women to take charge of managing their own wealth creation, they need to increase their financial literacy or their self-confidence in their own financial literacy. The raison d’être of the Investing 101 Series is for women to build a financial literacy foundation and to meet women where they are in that literacy journey.
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