Isn’t It About Time Ladies?Personal Finance Warrior Blog
Isn't it about time? Fidelity now writes all of its promotional materials with an imaginary, 38-year-old female customer in mind. It is the right business decision to focus on women. Women control a massive $5 trillion – with a T – in investable assets and live eight years – yes nearly a decade – longer than men. According to Fidelity, women invest with a longer-time horizon and deliver higher returns than men. Please keep the data coming!
In 2017, there has been growing momentum for women and investing with this business mandate. It was accelerated by Equal Pay Day on April 4 that highlighted the 23% gender pay gap. The smashing success of Wonder Woman as an iconic female superhero has brought more attention to these key issues.
- Women control $5 trillion in investable assets. Women need education to gain an understanding of the investment landscape and options available to them.
- Women live eight years longer. Women need their money to last longer. The salary trajectory of women is often negatively impacted by taking time off for children and less assertive negotiating skills.
- Women control 80% of consumer spending. While women run the budgets for many households, it is important they also partner in financial decision about investment accounts.
The first week of my 8-week online course is called Claim Your Financial Power so that women understand the financial power they have. Companies are starting to understand and addressing women in their marketing materials. Two digital investment platforms focused on women, Ellevest and Worth FM, launched in 2016. Many leading asset management firms now have dedicated women’s strategies. I have had the pleasure of speaking with Maria DiRamio at MFS and Adrienne Penta who manages the Center for Women and Wealth at BBH.
I am planning a Sept. Virtual Summit and you will hear directly about these initiatives and from other female thought leaders. I’d LOVE to hear from you so please contact me and tell me what’s on your mind.
THANK YOU for being a Personal Finance Warrior!