Women invest differently to men
Women have significantly less money available than men during their lifetime. This is due to various factors, including parenthood, childcare and the gender pay gap. On average, we earn 21 percent less than men, and there are still relatively few women in management positions.
Our mothers’ generation (50- to 60-year-old women) were unable to make financial decisions in their younger years. Women are now more likely to go to college than men, and families are more likely to rely on women’earnings than ever before. Today we have the opportunity to take control of our finances, so let’s seize it! Women can invest, take risks and make our own decisions about how much we want to spend.
FinMarie offers a range of services and initiatives designed specifically for women. The intent is to listen to women needs and offer personalised advice appropriate for each stage of your life as well as that of your family. FinMarie is also designed to respond to changes in the way that women interact with their bank. The days when a couple would visit their adviser together are long gone. Today, joint accounts are often being replaced by individual accounts, a third of which are held by women.
Women are patient and rational when it comes to money
In the financial market, we can leverage one of our many strengths – patience. Women are less volatile and can refrain from selling stocks quickly, which is more often than not a good thing. Plus, investing in different financial products takes time; women are willing to invest that time and are often rewarded with higher returns.
In addition, women are less emotional when investing. While men often go with products they emotionally identify with, for example, women regard the financial market as rational and a means to an end.
In contrast to men, women place much greater value on the transparency of their portfolio, and do more detailed research about each aspect of it. Women’s investments tend to be spread more widely. This more rational approach makes it easier for women to part with less successful investments and admit mistakes. In doing so, they minimize their losses.
Lack of transparency is a turnoff for female investors
Financial markets lack full transparency, however, and that can deter otherwise interested women from investing. We want to know vin detail what happens to our money, and understand the complexity of the financial market. In general, investors often associate money with security, independence and quality of life. That’s why we’d like to see more transparency and a focus on the particular financial needs of women. In the meantime, however, there’s already a wide range of forums, blogs and websites where women can research and learn about financial topics.
During our journey with FinMarie Team, we found that:
Women are financial decision makers
Women are taking an increasingly active role in determining how their families save, spend, invest and plan for the future. In addition, most women will spend at least part of their lives on their own — as sole earners, after divorce and as widows — taking full responsibility for their finances. Women are working — and earning — more than ever before. In addition, because women tend to live long lives, they have a better than average chance of inheriting assets or a business at some point.