Never have I felt more obligated to start getting in the investment game than after reading this article from Money magazine.
Sallie Krawcheck is working to close the investment gap with Ellevest – A digital investment platform designed specifically for women.
Although I wasn’t entirely surprised, the implications of the investment gap shocked me. Women don’t invest as much or as early as men do – This can have a real cost of as much as $1 million over a 35-year career. This is huge! And an advantageous trend for men considering studies reporting that women typically outperform men when they invest – an assertion confirmed by Fidelity Investments.
Don’t believe me? Click the link. The study reflects many trends observed from Sheryl Sandberg’s Lean In and The Confidence Code. Women underestimate themselves. Women don’t give themselves enough credit. This study found that only 9% of women think they make better investors than men – While the evidence begs to differ.
In an analysis of 8 million Fidelity clients, women outperformed men when it came to generating returns on their investments. If this is true – Why do so many women bet against the facts? Why so many women doubt their ability to invest effectively when the studies find that:
- Women earn higher returns.
- Women save more.
Sallie’s advice? Just do it. Find a financial adviser who feels right for you – and don’t settle. Her advice is to the point.
Money is power. Money is freedom. Money is “take this job and shove it.”
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