A recent article states that one of the biggest conundrums in the financial world is that women have a lack of confidence when it comes to retirement planning and investing. This is puzzling because investment results show that women's portfolios typically outperform men's portfolios.
Perhaps women are wiser at investing than men as statistically they achieve similar results but with less downside risk.
However, in a new study Fidelity found that 8 in 10 women hold back from talking about their finances even with family and friends. In fact, 77% of women are confident discussing their health with their doctors yet less than 43% feel confident talking about money and investments with a professional.
The point of all this is not to say that women or men are more capable or better investors. Rather that both women and men should feel welcome, comfortable, and confident in talking about their financial future.
I believe that every household has as many financial decision makers as there are adults that live in that household. Meaning each individual has an impact on the financial health of the family. Working together with an advisor to help bring out all opinions and joint decision making will likely allow for a more successful and obtainable financial plan.
Caroline Hill, Financial Advisor
(This article contains the current opinions of the author but not necessarily those of Brighton Securities Corp. The author's opinions are subject to change without notice. This blog post is for informational purposes only. Forecasts, estimates, and certain information contained herein should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. References to specific securities and their issuers are for illustrative purposes only and are not intended and should not be interpreted as recommendations to purchase or sell such securities).