February 17, 2015
After 5 years and over 300 interviews with globally successful women (and men this year), I have reached a few conclusions about women and money. Before I share these with you, I should make it clear that while the findings are my own, these really are the stories of 300 smart people. Let’s start with a review of the key highlights of my Rich Thinking research so far:
- Women prefer to learn about finance through real life stories from role models or family members rather than more traditional methods such as reading from textbooks, taking courses or watching financial news.
- On the topic of money, the most common theme that accomplished women learned when they were growing up was the importance of being financially independent.
- Women are risk aware, not risk averse. They are detail-oriented and reflective before making decisions.
- Women prefer to invest in causes and concerns that matter to them and/or that interest them.
- Smart women ‘get started’ investing. They decide whether they want to do their own investing or they hire an advisor that they trust. They know that doing nothing is the highest risk investment behaviour of all.