I recently met with a long-time friend who is a very successful business owner. She has worked very hard, reinvesting most of the gains back in the business and saving for her retirement.
We had never discussed finances or investments, but this time she wanted to show me her statements and ask for my opinion. I couldn’t believe it! For over 10 years she had saved and saved and saved…. and not invested one penny.
I proceeded carefully.
How do you tell a hard-working, successful person that she has missed on hundreds of thousands of dollars? That she could have taken that vacation, or worked fewer hours? Or that her retirement nest egg could have been substantially larger and afford her an easy, early retirement?
In a recent interview, Sallie Krawcheck, former Wall Street executive and CEO of women-led investment platform Ellevest, said:
“The best career advice women aren’t getting is to invest”
I had to read it twice. Career advice? To invest? What does one have to do with the other?
It took me a few minutes to figure it out. For a professional woman, not investing can cost hundreds of thousands of dollars over the course of a lifetime.
She is absolutely right. So many professional women do not invest.
There are many reasons why women tend to invest less than men, we will leave that to psychologists and sociologists.
Our mission is to get the message across.
Investing for the long-term does not need to be risky. It does not need to cause stress or provoke anxiety.
Quite the contrary. Investing for the long-term should provide peace of mind and the much needed reassurance that our money is working for us just as hard as we are working ourselves.
So how to start?
Do you need to read investment manuals?
Take a class?
Watch CNBC or Bloomberg TV?
Hire an advisor and pray?
Do you do it yourself or do you delegate?
How about costs?
Wall Street gurus have become experts at the art of confusion. W
We need to simplify, start with the basics. Once you understand the very foundations of investing, you feel more confident and ready to dive right in.
In subsequent blogs, we will cover all the basics, stocks, bonds, how to combine them and everything in between.
Curious? We hope so. We want to entice you to learn more.
This is not a full course and we are not providing any financial advice.
Stay tuned and let us know what subjects you would like us to cover. We love hearing from you and responding to YOUR needs.
Interested in knowing more about personal finances, what about financial coaching? Check our Finlearning page, or write to firstname.lastname@example.org