How women can avoid 'taking the back seat’ when investing
04/02/2024 00:17
According to a recent survey from Fidelity, 93% of women feel stressed when it comes to managing their finances. HerMoney.com CEO Jean Chatzky joins Wealth! to contextualize the investing landscape for female investors and discuss opportunities for women to achieve financial success, particularly as more wealth comes into their hands. Historically, women are more likely to keep their money in cash compared to men, Chatzky says. She explains women have been led to take a “back seat” when it comes to investing: “Women are more likely to say that financial wellness feels like financial peace….an absence of stress, which is kind of the antithesis of taking risk. It's what leads us to take a bit of a back seat and hold on before we put our money to work.” Research from HerMoney Media and Principal Financial Group shows that 59% of women don’t use a financial professional, which Chatzky signals must change. She advises that women find an advisor or even connect with the administrators of their 401K plans, which can offer free financial help and suggestions. For more expert insight and the latest market action, click here to watch this full episode of Wealth! Editor's Note: This article was written by Gabriel Roy.
According to a recent survey from Fidelity, 93% of women feel stressed when it comes to managing their finances. HerMoney.com CEO Jean Chatzky joins Wealth! to contextualize the investing landscape for female investors and discuss opportunities for women to achieve financial success, particularly as more wealth comes into their hands.
Historically, women are more likely to keep their money in cash compared to men, Chatzky says. She explains women have been led to take a “back seat” when it comes to investing: “Women are more likely to say that financial wellness feels like financial peace….an absence of stress, which is kind of the antithesis of taking risk. It's what leads us to take a bit of a back seat and hold on before we put our money to work.”
Research from HerMoney Media and Principal Financial Group shows that 59% of women don’t use a financial professional, which Chatzky signals must change. She advises that women find an advisor or even connect with the administrators of their 401K plans, which can offer free financial help and suggestions.
For more expert insight and the latest market action, click here to watch this full episode of Wealth!
Editor's Note: This article was written by Gabriel Roy.