When you were a kid, how did your parents teach you about finances? What about investing? Sure, perhaps you learned how to prepare a budget and balance a checkbook, but were you ever taught the basics of investing? Many people feel uncertain about their confidence when it comes to investing, specifically women.
Here are three challenges that women may face when it comes to investing and how to overcome them.
Lack of education
Studies show that young men receive a greater education in regard to investing, understanding credit scores, and the ins and outs of taxes than young women. That gap in financial education has left many women questioning their confidence when it comes to investment opportunities. The good news is that learning has never been easier. There is an abundance of education available about investing.
The gender wage gap
Unfortunately, some women still make less money than their male counterparts. According to PayScale.com, women earn 82 cents for every dollar men make as of 2021. But just because the gender wage gap challenge exists doesn’t mean that there is not opportunity. Women are earning college and graduate degrees more than men, working to close the pay gap.
Not saving enough for retirement
On average, women save less than men for retirement. This is a financial challenge that will follow women for a lifetime. The good news is that it is never too late to start investing in your future.
Talk to a ProVise CFP® professional about how to invest as a woman
Whether you are married, single, divorced or widowed, our CERTIFIED FINANCIAL PLANNER™ professionals can get to know you and your current financial circumstances, goals, risk tolerance and personal values to help you develop a plan that works for you. We can also create a written plan for you at a fiduciary standard of care. All our written plans come with an unconditional money-back guarantee. If you are unhappy with your written plan, you can return it to us, and we will refund 100% of the fee paid.
Are you ready to talk to a professional about investment opportunities available to women? Contact ProVise today to schedule a complimentary consultation.