Women make a majority of the buying decisions.
We hold 51% of management positions.
More women graduate from college & with higher degrees.
Women live longer, spend more years in retirement, and many take leave of the workforce to tend to families.
Being financially healthy is not just fashionable, it's life changing.
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As important as your finances are, research* shows:
- Most women aren’t as confident or knowledgeable about financial matters as men.
- We need to be pushed to evaluate whether we’re being paid what we’re worth.
- Women tend to be less financially literate.
- Women don’t find money and investing as interesting as men – we’re socialized to not talk about money.
- While women may be less likely to enjoy investing, we’re inherently better investors than men because we’re not prone to risky behavior or over confidence.
*Research data source
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Most women begin to take notice of finances only after they’re forced to – divorce, death of a spouse, inheritance, etc.
Get this: 51% of women live as singles; those of us who are married out live our spouses by 10 years. Given the sheer odds that at some point in your life you’ll need to take control of all things financial, be proactive. It saves time, money and emotional stress.
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Because your financial future and stability mandates your involvement with your wealth manager now, we’ll help sort through the details. You can begin with these small steps that make it a practice to keep money central in your life:
1. Get organized. Once a year, list all your bank accounts, credit cards, loans, investments, insurance policies, and other financial data in one place. Use personal finance software like Microsoft Money or Quicken to understand how you spend money – you may be shocked (remember when Carrie from Sex and the City discovered her closest was worth more than her bank account?).
2. Get financially literate. The Intelligent Investor, One Up on Wall Street, or Common Stocks and Uncommon Profits, are good places to start. Don’t have time to read? Tune into our weekly radio show - Straight Talk About Money - where lively and passionate discussions take place about making money, offering sound financial advice, and sharing our more than 50 years of investment and wealth management experience.
3. Plan for the worst. Make sure you and your spouse both have adequate life insurance, a will and a living trust.
4. Know what you’re worth. Websites like Salary.com will help you begin to figure out how much your type of job pays for your area.
5. Raise vs. Promotion. Not making as much as you want? Maybe you need to ask for a raise or promotion (if you’re making your salary’s cap, you’ll go for a promotion).
6. Understand the power of small. Amassing wealth takes time. Do small things every day to cut expenses, generate extra income, and put money into brokerage and tax-deferred retirement accounts; this is your path to financial freedom. With time, it begins to add up.
Read our Habits of 6-figure Women to get started.
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7. Don’t buy the product, own a piece of the company by buying the stock. Wealthy women save & invest up to 30% of their income. This habit is NOT a result of being rich – it’s HOW they got rich. |
Googins & Anton Inc. helps clients to build wealth; they’ve been doing this for decades. Being the recipient of new and unexpected wealth like inheriting money or winning the lottery poses certain issues that covers asset management, tax strategy, estate planning, gifts, and philanthropy. Googins and Anton will help you to determine your individual goals, navigate important laws, and describe different investment scenarios.
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Green is the new Black
