Did you know that traditionally a higher number of men invest than women? Yes, even in 2018 this still rings true. It’s also true more men work and earn more money for similar jobs. And while there have been many recent financial gains for women, there is still room for improvement.
Statistically, we will live longer. That means we will need more longterm financial security. That’s where investing comes in.
Quick fact: Women and men approach risk differently. Women are more likely to experience long-term steady growth.
change your mindset
According to research, women are more likely to hoard cash than invest wisely. Respondents in a survey put it down to not knowing enough about investing to take the risk. Women that do invest tend to wait until they’re older than the average man making a similar investment.
However, our attitude towards investing is created by out of date information. Building your own portfolio of investments is now easier than ever. A combination of technology and higher wages has made investments more accessible. You don’t have to be an expert or have lots of money to be successful; you just need to find the right tools and resources for you. If you’re unsure about where to look you can use a comparison site, such as FX-List, then look for reviews and feedback for the different brokers. There is so much information out there!
Quick fact: The average man is five times more likely to name investing as their main financial goal.
create your own freedom
Investing can have so many positive effects on your life. You can create your own financial security for the future, on your own terms. This allows you to choose when to dip into your investments, whether for college, a wedding, a deposit for a new property, or a well deserved holiday.
The earlier you start the more beneficial it will be for your retirement.
Money sitting in a savings account will earn you very little. Making good investments will have your money making you more money. An alarmingly high number of people don’t have sufficient retirement planning, but investments can help you to make the extra you need to enjoy the retirement you want to.
approach with reason and logic
Before you start investing work out exactly how much you are willing to put away each month. Many experts say we should be investing around 20 percent of our income. This is great if you have 20 percent of your income left after paying your bills. There are lots of investment resources out there that will let you start investing in very small amounts, which can also be a great way to dip your toes in the water.
Spend some time on research. You don’t need to be an expert but it’s good to understand some of the terminology and the basics of investing. When you start working with a company or broker, they will advise you about what they think is the best choice for you. A little bit of learning now will make your choices much more informed.