Think about this. Women live longer than men. Women take more time away from the workforce caring for the family than men do. And despite much progress, women still do not make as much money, either per hour or over the course of their careers, than men. This means, that unless women are financially iterate, they run the risk of not being adequately prepared for retirement!
Money does not have to be scary! Good girls DO talk about money. Learning the basics of investing and finance is not difficult. And, NO! A husband is NOT a financial plan!
Still feeling nervous? Check out some of Manisha Thakor’s Top Tips Here:
- The stock market is a long term investment tool. Do not invest money in the stock market that you want or need to spend in the next five years.
- Interest in hiring a financial advisor? Ask them if they operate under a fiduciary standard or a suitability standard. Fiduciaries have to act with your best interest in mind, but those operating under a suitability standard do not! They only have to offer products that are suitable, which may not truly be in your best interest at all!
- Fees get confusing. If you ask what the “all in fees” are, your adviser has to answer! Those fees should be less than 1.5% and if they aren’t considering a different option. Why? Over 30 years, one extra percentage point can eat up 20% of your investment revenue. Ouch!
- Find out if your financial advisor uses an active or a passive investment style. An active style is akin to driving in the fast lane, cutting in and out of traffic and trying to get ahead. Which sometimes works, but can also lead to devastating crashes. A passive investing style is akin to driving in the slow lane, safely driving the speed limits and obeying all traffic laws. Over time, you will get where you are going, and you will keep yourself safe and secure.
If you or any women you love would like to learn more about money, investing and simple strategies, such as the ones above, then this show is for you!
Remember, Lora’s Listeners receive a complimentary 30 minute Life Choreography discovery session where they can find out how working with Lora Cheadle can help them Build their Dreams and Live their Sparkle! Are you ready to FLAUNT! Schedule your session here: https://calendly.com/loras-schedule