For far too long and for too many generations, money has been considered a dirty word. How do I know that? Well, money is just not talked about, not even in most families. Many people that I meet could have been investing for at least a decade but hadn’t done so because they didn’t believe that they had enough financial resource to do so. They don’t even have a conversation around what may be possible for them to grow their assets.
There is a disconnect between our relationship with money and how we can use it to actually make more money.
Women in particular tend to lack financial confidence, often deferring to their spouses on financial matters. The interesting thing is that research shows that women actually make better investors than men. According to Robin Powell in his article “Why Women Handle Market Corrections Better Than Men,” women tend to be more cautious than men and less competitive. Once they’ve decided on a plan of action they’re often better than men at sticking to it; and they’re not as likely either to follow the herd.’
For some reason we think that investing is difficult and it can sometimes be perceived as risky.
This is where good quality education can make all the difference. I can’t stress enough the necessity of getting educated around finance. After all, you can’t delegate your financial future and hope that everything will work out well for you. Women, in particular, need to learn how to invest their money to make it last a lifetime.
Having conversations around money, financial education and investing will also prepare the next generation for making wise decisions around their finances. After all, if money funds you’re here and now, then let’s make it fund your future and fuel your dreams.