Men, Women and Investing- having the best of both worlds
September 7, 2012 § Leave a comment
We have not always been willing to acknowledge, nor have we understood, the differences between men and women. More detailed recent studies on men, women and money have produced lovely information that has good uses for financial planning and investing. This survey, by the Bank of Montreal, focused on men and women and who beats whom on investing returns. It turns out men and women have complimentary styles but they both perform better when they work with an advisor.
Men:
More are enrolled in work-place savings programs
Have greater amount in savings
Consider their investment strategies ‘aggressive’
Investments did less well in the recent recession
Are ‘as stubborn about seeking financial advice as they are about asking for directions’
Women:
Have interrupted work years
Less sure of their financial knowledge
In aggregate have lower savings
Less work years usually means lower Social Security benefits
Enjoy longer lives
Though the genders have complimentary views in investing, saving and money in general, the survey found that using an advisor melded the best traits of men and women and produced the best results for both genders. I have seen this very practically play out in my practice. An advisor can navigate between you bringing out the best vision in you both for a great plan. And she can help keep you on track as you travel on your life’s journey. (CR8502)
Finance with Chocolate Sauce 
Leave a Reply