When asked to rate their own investor experience level, far fewer women say they have a higher level of experience. This perceived lack of experience has consequences – more women than men are fearful of a market downturn, women tend to expect lower returns on their investments, and women are more likely to say they are afraid to take investment risks in hopes of generating higher returns.4
Yet, according to data from the World Health Organization, women tend to live longer than men, meaning that their investment assets will have to last longer. Women generally have a longer investment time horizon than men of the same age, so women may benefit from becoming more comfortable with growth assets, such as stocks, in order to meet their financial goals.
The Salon Magura Wealth Management group can help you understand the basics of investing – things like setting aside enough cash for an emergency, defining your time horizon and risk tolerance, and developing an appropriate asset allocation*.
We can help you set investment goals that fall into the categories of income, growth, or a mix of the two. Moreover, each of your investment goals will generally have an associated time period that helps determine what type of assets you should potentially use to assist you in your investment goals with the appropriate level of risk.
1Source: The American College, 2010
2Source: Center for American Progress analysis of data from the U.S. Census Bureau, 2015
3Source: BMO Wealth Institute, 2015
4Wells Fargo/Gallup Investor and Retirement Optimism Index, November 2018.