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Women and the Investment View

In our last article, we celebrated how awesome it has been to see female entrepreneurs rising up. We discussed the importance of personal financial planning and, of course, this leads to even more questions. How do women view the challenge of investing? Are we frightened? Excited? Do we see it as unimportant? Well, gals, let’s ask and address those questions.

We did discover that The American College of Financial Servicesfound that Millennial women consider their income their most valuable asset, while the Gen Xers finds their home to be theirs. The study also discussed insurance protections and retirement planning. Both generations consider retirement planning to be very important, and about three-fourths of each generation reports having a retirement fund such as a 401(k).

However, there are many more of us gals out there than just the Millennials and the GenXers. So, how are women across the generations viewing financial planning? Let’s take a look at a current survey.

Fidelity Investments released the Money Fit Women study in early 2016. Their key findings included some really great information:

  • 92% of women want to learn more about financial planning

  • 75% want to learn more about money and investing

  • 83% want to get more involved in their finances within the next year

However, the study also concluded that women are still not opening up about their money and investment thoughts, even to those whom they believe are trusted advisors. Many say this is because they feel they lack financial knowledge and experience. Some worry they will not understand the conversations that lead to good planning practices and will talk about their health or parenting tips before talking money: this includes planning with their spouse. Because of this feeling of inadequacy, many women also said they have not been taking advantage of employee investment opportunities.

Being “raised not to discuss finances” made up almost one-third of the reasons stated for not talking money. The idea that women are not to be concerned with finances or should hold this subject as taboo may be why some women hesitate to talk with qualified investment professionals. The study showed that 77 percent of women are confident discussing their medical needs on their own with a health professional, but only 47 percent would be comfortable talking money with a financial professional. That is quite a difference!

The views still seem to be mixed about how women may go about taking on a larger role in their finances. The great news is that women included in this survey are eager to learn about financial planning and investing. They want to make strides to close up the learning curve in their financial lives, but their hesitation and lack of current knowledge may be holding many back. Based on this study, though, the future looks like it will contain more and more women in every chapter of life taking a stronger hold of the reins of their financial futures, and THAT is a good thing.

If you are ready to grab those reins, speaking with a trusted financial planner can help make the money conversation easier than you may think it is.

Linden Oak Wealth Partners offers fee-only financial advising customized for women, in particular, women in transition. Our goal is to create an environment where financial planning is efficient, simplified and easy to understand. We want clients to feel empowered and engaged every step of the way. Please contact us to schedule an initial consultation today.

Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital.

The views expressed in this blog post are as of the date of the posting and are subject to change based on market and other conditions. This blog contains certain statements that may be deemed forward-looking statements. Please note that any such statements are not guarantees of any future performance and actual results or developments may differ materially from those projected.

Please note that nothing in this blog post should be construed as an offer to sell or the solicitation of an offer to purchase an interest in any security or separate account. Nothing is intended to be, and you should not consider anything to be, investment, accounting, tax or legal advice. If you would like investment, accounting, tax or legal advice, you should consult with your own financial advisors, accountants or attorneys regarding your individual circumstances and needs. No advice may be rendered by Linden Oak Wealth Partners unless a client service agreement is in place.

If you have any questions regarding this blog post, please contact us.