Twinterview with VectorVest “Women and Money”
On Friday 12th June, I participated in a #Twinterview regarding “Women and Money”. It’s a topic that I’ve been researching for many years now that started when I wrote my first book. There are a wide range of ways that women treat money differently to men that manifest themselves in the stock market, in consumption patterns and in the perception of risk. I invite you to read down through our thread here so that you can get a snapshot of the key points. You don’t have to be on Twitter to read it as we’ve embedded everything here for your convenience and made access easy to several useful resources if you want to delve into any aspect of the discussion more deeply.
— Susan Hayes CFA (@SusanHayes_) June 12, 2020
Since writing “The Savvy Woman’s Guide to Financial Freedom” I’ve been intrigued by this topic. “60% of US men invested in stocks compared with only 40% of women” according to a @CFAinstitute blog. Why is that and what can we do about it?
(Reference?? https://t.co/rTJA1qO7u1)
— Susan Hayes CFA (@SusanHayes_) June 12, 2020
#SavvyWomenInvestors
??trade less and make more.
??have more discipline to follow a strategy
but…
??are more likely to hold far more cash @FinLitDub @Ellevest @WomensInspireIE @womenfinanceuk and so many others have sought to help(Reference ?? https://t.co/G51Jj57OLI
— Susan Hayes CFA (@SusanHayes_) June 12, 2020
Yes! In the US, women are responsible for:
???93% of food purchases
?91% of house purchases
?65% of new cars… and
???? 92% of women pass along information about deals or online recommendations to others #SavvyWomenInvestors
Reference ?? https://t.co/pyxeSn5cNi
— Susan Hayes CFA (@SusanHayes_) June 12, 2020
#Anxiety, leading to risk aversion, is a big difference
If a financial setback happened, 22% US ?? women feel they would be unable to afford their current lifestyle but 36% German?? and 60% French ?? women are worried about their financial future.
— Susan Hayes CFA (@SusanHayes_) June 12, 2020
My message to #SavvyWomenInvestors is:
1?Enjoy it! It’s a hugely empowering, enjoyable way to get more out of your money. Get your #mindest right.
2?Learn from the abundance of knowledge out there including your own @VectorVest resources
3?Search @itunes for good podcasts pic.twitter.com/siKfOxW3JU— Susan Hayes CFA (@SusanHayes_) June 12, 2020
?Remember times they’ve overcome setbacks or successfully learned things in the past. “I’ve done it before so I will do it again”
????Seek out role models and ask “what not me?”
?Celebrate the little successes along the way
?Enjoy the journey #confidence— Susan Hayes CFA (@SusanHayes_) June 12, 2020
Just get started. You will learn more from buying your first stock or selling your first option than years of theory. #SavvyWomenInvestors
Just
Take
ActionThat’s from my lovely husband @ardleculleton!
(I shared some experiences of this in the recent @VectorVest Summit) pic.twitter.com/C4Y4W4YV6u
— Susan Hayes CFA (@SusanHayes_) June 12, 2020
In the #hermoneypodcast where @JeanChatzky discussed a this statistic with Abby Johnson, Chairman & CEO of @Fidelity
“90% of women leave their advisors when they lose a spouse”.
The conversation around money needs to be MUCH more inclusive.
(Ref ?? https://t.co/hPIsFuj5uO
— Susan Hayes CFA (@SusanHayes_) June 12, 2020
So much to say here!
?Ensure the life of the loan is shorter than the life of what you’re borrowing for. ( @socialBeeNI!)
?Learn the basics of investing, ETFs and low brokerage fees.
?Sell a stock when the reason you bought is no longer there. #SavvyWomenInvestors pic.twitter.com/lBeDFJr4zT— Susan Hayes CFA (@SusanHayes_) June 12, 2020
I will never forget it. April 2011. $SLV had gone parabolic and I was treating the stock like it couldn’t fall by selling in-the-money puts without thinking through the risks. The stock took the elevator down after taking the escalator up. #SavvyWomenInvestors #InvestingMistake pic.twitter.com/dbuauTkLUa
— Susan Hayes CFA (@SusanHayes_) June 12, 2020
Yes! #FantasticFemaleFridays is going to be a 30-minute fortnightly show on the @VectorVest @YouTube channel where I will be discussing these very topics and interviewing guests with lots of insights for #SavvyWomenInvestors.
Our first episode will be streamed live next week! pic.twitter.com/Ej0cxiZCuK
— Susan Hayes CFA (@SusanHayes_) June 12, 2020
This show is going to be for all #SavvyWomenInvestors who want to:
?get started with investing
?build their knowledge around the markets
?want to teach their loved ones about finance
?demystify stock market #jargon
?enjoy conversations around money with confidence— Susan Hayes CFA (@SusanHayes_) June 12, 2020
That’s completely ok. Lots of people don’t! However, even if you never invest, the #stockmarket offers a superb learning curve. As you’re talking to a financial advisor then, you will be in a much more knowledgeable position. All are welcome to the #FantasticFemaleFridays show.
— Susan Hayes CFA (@SusanHayes_) June 12, 2020
I find that while there is a huge amount of knowledge available, a key reason why women don’t invest because they need to build their confidence first and may not be aware of the resources available to them to help. This show will combine all three. #SavvyWomenInvestors pic.twitter.com/MAHUYn02am
— Susan Hayes CFA (@SusanHayes_) June 12, 2020
Absolutely!
It’s going to take place at https://t.co/n8PAAKfEvX starting from Friday 19 June at 12 noon ET. Afterwards we will be sending out extra resources, a brief synopsis of the next show and an invite to send in your questions.
I’m super excited and thank you @VectorVest pic.twitter.com/B0WpGJFkiU
— Susan Hayes CFA (@SusanHayes_) June 12, 2020
