Let’s look at the facts before we look at the myths.
Women typically earn less than men………………
Money is certainly a woman’s issue.
It’s time to bust some of the more dangerous investing myths stopping you doing the right thing for you or your family, find out the fiction behind them, and break down the barriers to investment.
MYTH 1: You need a large sum to start investing.
Start with small amount! By investing monthly you can average out the price you pay for investments as you buy them at varying prices over time. Your monthly payment buys more when the price is lower. However, if the price rises above what you initially paid, fewer units or shares are purchased. This is called ‘pound cost averaging’.
MYTH 2: If you’re saving there’s no need to invest.
There is a big difference between saving and investing. And there’s nothing wrong with simply saving. Simply put, it’s highly unlikely you’ll achieve financial freedom or meet your life goals with just a savings account.
MYTH 3: You need a financial adviser
The majority of our clients investing with us do so without financial advice. Why? Because it isn’t always necessary. Whilst women may face very specific financial challenges to overcome throughout their lives – time out of the workforce, reduced earnings, living longer or divorce to name a few – it isn’t always necessary to seek advice in these scenarios.
MYTH 4: You need to devote hours to investment analysis. Of course there are some serious hobbyist investors out there who devote hours to it. But there are plenty of investors who are just as busy as you, and really don’t have the time or the inclination for detailed research.
It’s okay not to know absolutely everything there is to know about investing before you get started.
If you dont have enough time, we are here to help you.