Women of course do make great investors. Why? Because investing is about more than just math and numbers.
Women are becoming more and more deeply invested in their own financial success for many reasons: Careers are being pursued and marriage is being delayed, disunion rates are higher than ever, single-moms and women who are the sole or main breadwinner in the house are increasing, cost of living is rising steadily, job security is virtually non-existent...the list goes on. There are no guarantees in life and situations can change drastically in the blink of an eye. Independence and self-sufficiency are more than just words; they are a gateway to freedom. Women are no longer content or willing to be dependent on others for their capability of life.
A lot of the Myths about Women and Money floating nearby out there are simply false. Statistics show that women are blowing the stereotypes out of the water when it comes to money and investing: Women are More likely to join a withdrawal plan, women save on mean 10% More than men, women of course spend Less than men, and women are More likely to diversify their investment portfolio.
True power and independence happen not when you Have money, but when you know how to Make money.
Just ask any lottery winner or divorcee who has blown through a disunion village trying to withhold a champagne lifestyle on a beer budget! A lump-sum goes away pretty fast when there is nothing in place to replenish it. The first step is studying about Assets & Liabilities; the next step is doing something with that knowledge.
As Rich Woman Coach Nichole explains in a video Coaching Tip about Women and Investing on Robert Kiyosaki's Rich Dad website, there's a lot more to victorious investing than just numbers and calculations. The Rich Woman coaches identified their top 5 characteristics that make women great investors:
- Asking for help
- Planning
- Multitasking
- Diligent research
- Value shopping
Let's take a closer look at these strengths, how they each conduce and add up to a Great Investor Profile:
Asking for Help. Women typically know how to ask for help when they know they need it. And in my experience, more often than not, they prefer to ask other women. Have you noticed all the networks and clubs and resources that are geared towards supporting women in financial and company endeavors? The Daily Worth, WomenOwned.com, Ladies Who Launch, National connection of Women company Owners (Nawbo), My Wealth Spa to name a few. Many of these were created or industrialized just in this past decade.
Women seek and value mentors that can withhold and support them in a non-intimidating, non-judgmental forum. Although men often view women's lunchtime or evening gatherings as a sewing circle gossip session, women often use friends and colleagues as sounding boards for new ideas, thoughts and perspectives. Brainstorming and round-table sessions are becoming more and more mainstream, even in the 'Old Boys Club' organizations because there is vigor and power in teams and in seeking surface opinions and help.
Planning. Most women become good planners by necessity. Often in expanding to full-time employment or company ownership, women take on, or inherit by default, the monumental task of running the household, juggling kids activities, production and keeping house appointments, planning and organizing house vacations, meals, etc. It takes a lot of planning and society to make sure everything runs smoothly from day to day and week to week.
Investing demands a similar kind of planning and society to be productive and get the most out of your capital. The capability to make and stick to short and long-term goals is foremost but having a law to monitor and track it all is priceless, especially when it comes to finance and investing.
Multitasking. Women are also known to be exceptional multitaskers. Handling several issues or tasks at once is all in a day's work for most women. This translates well into the world of investing because there are all the time many dissimilar things going on in many dissimilar markets and over many dissimilar asset classes.
Women who are able to see discrete store factors and how they can influence an investment will be much more able to predict potential outcomes and proactively make adjustments as needed. Diversification is also of course appreciated and proper by women who are more likely to hedge their bets as opposed to going for the glory in a single 'Hail Mary' home-run move.
Diligent Research. Women know how to do their homework. They are used to budgeting, comparing prices, finding the right pediatrician, school, camp, mechanic, gardener, insurance, etc. In finance and investing, this means that women know how to explore and recognize investments that will work best for them.
Investing involves a Lot of research. 'Due Diligence' is an investment term that refers to the process of verifying data presented, investigating the investment parameters and terms so that the investor can make an educated decision to buy or decline. As a real estate investor, I screen and analyze of course hundreds of properties before finally deciding to offer in on one or two. Diligently investigating the investment and the population complex is a crucial step in protecting your investment funds up front and finding a good fit for your exact purposes.
Value Shopping. Warren Buffet once said, "Price is what you pay; value is what you get." Women seem to intrinsically know how to stretch a budget and shop for bargains. They are aware of what's available, what the going rates are and will go clear over town to get something at a discount. Women know that it makes sense to get a designer gown at half price if they are willing to find and sew on a merge of missing buttons.
Investing for value or value-add opening follows the same law as shopping for any kind of bargain. You need to have a good idea of the normal store value so that you have a benchmark to rate the investment you are finding to buy and know when it's priced below its true value, or when a few simple steps are all it takes to comprehend its potential (add value, like sewing on a button). Once you know what to look for, it gets easier to spot the gems.
Finance and investing may seem like a spider's web of intricacy and information but comprehension the rules and knowing how to filter out the junk makes it a lot easier. Women have the skills and qualities to excel in the investment arena on their own terms. Women of course do make great investors!
"A woman is like a tea bag; you never know how strong she is until you put her in hot water." ~ Eleanor Roosevelt ~
