Behind every successful man, there is a strong woman. With their perennial struggle for equality, perhaps it is now time for these strong women to step up and take charge.
Looking at the world of investments as an example, a 2018 study by Warwick Business School and numerous other studies by financial institutions have consistently determined that women perform better than men when it comes to investing.
Why are women better investors?
This is all down to age-old gender differences. Women tend to play safe, investing in shares with good track records. They are focused and refrain from gambling on ‘lottery-style’ investments. Last but not least, they have the patience to sit out a downturn, taking a long-term perspective. On the other hand, men tend to invest in stocks and shares bearing higher risks, to trade frequently (thus incurring more fees and eroding their gains), and prefer volatility as opposed to stability.
What’s stopping more women from investing?
Traditionally, women tend to park their funds in safe bank accounts and fixed deposits; however, these pay such low interests that whatever is earned may already have been swallowed up by inflation. The investment world is still perceived as a man’s domain – who can forget videos of trading floors and all those adrenaline-charged men shouting and gesturing as the market shoots up or plummets. Fortunately, women investors are unlikely to encounter such scenes first-hand. Some women do not have a clue where to start, but help comes in the form of financial advisers with their financial adviser software.
What can financial advisers offer?
The first step is to supply a financial adviser with an idea of the level of funds you have available for investing and an idea of what you are hoping to achieve, such as retirement, buying a house or future education. In choosing an adviser, big names and plush London offices may not be necessary for you; instead, local advisers with modest offices who use financial adviser software such as Intelliflo financial adviser software can assist you with your portfolio. Think of it as the infrastructure behind a façade of a desk, a computer and two chairs.
The important thing to remember is that you need someone you can trust and someone who will make your money work hard for you.