GEM Magazine LI is the sparkling new lifestyle magazine for the Long Island woman. Helping real women get the real answers they need – now – Gem is a monthly publication poised to become the trusted resource for women across the Island. From Montauk to Manhattan, women are turning to Gem!
GEM Magazine LI addresses the needs, concerns and issues facing the “real” Long Island woman. Meeting the demands of a fast paced and ever changing modern society, today’s Long Island women are faced with wearing many hats and are challenged by a tough balancing act. Women are an integral part of the successful management of many organizations whether they are private homes, schools, communities, businesses or even governments. Women are often times key decision makers and managers.
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Gem Magazine LI is the sparkling new lifestyle magazine for the Long Island woman. Helping real women get the real answers they need - now - Gem is a monthly publication poised to become the trusted resource for women across the Island. From Montauk to Manhattan, women turn to Gem!
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Gem Magazine LI is the sparkling new lifestyle magazine for the Long Island woman. Helping real women get the real answers they need - now - Gem is a monthly publication poised to become the trusted resource for women across the Island. From Montauk to Manhattan, women turn to Gem!
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GEM Magazine LI TV - Merchant Spotlight
Is Investing Different For Women?
Women And Money: What’s Biology Got To Do With It?
Although it is hard to generalize about women and investing, there are definite patterns that can be attributed to women in the investment world. We know that women’s traditional roles are continuing to evolve and it is clearly evident in the financial world. This is a result of many factors; none as important as the number of women in the workforce, in management, in business for themselves, and/or find themselves responsible for supporting a household often by themselves. So are there differences in how women approach financial planning? Absolutely, says this certified financial planner.
With all the responsibilities women have today, “multi-tasking” is paramount to the contemporary woman. Increased efficiency is equally as important as our lives are much more complex. Women tend to move in and out of the workforce more due to child-rearing and care-giving for other family members. This greatly affects their ability to save for retirement, and is very much on their minds.
In my own practice I have found that women have great curiosity regarding the financial markets; what their choices are, and are most open to the idea of “financial roadmap” planning. Women ask great questions, appreciate short-term and long-term planning, and value the relationship with their financial planner as one of key importance.
Some notable differences in how we invest:
1. Women are good at clarifying where they are now financially and where they hope to be in the future. This bodes well for making a plan.
2. Women set financial goals and stick to them. I often tell my clients that no one plans to fail, but having no plan can almost guarantee failure.
3. Women take seriously the need for regular medical checkups. I find the same with regards to reviewing their investments and their financial plans.
4. Women tend to be more moderate risk takers, therefore avoiding huge stock market volatility and the emotional stress that results from this fluctuation.
5. Child-rearing, long-term care-giving and longevity inhibit their ability to contribute to their retirement plans. They are generally very open to long-term planning with this in mind, embracing concepts such as regular investments over the long time frame for building wealth.
To summarize, women have been making sound financial decisions in their homes for decades. That ability to plan, analyze, and put effective financial planning into action will enable today’s woman to lead a life of wealth health in the future.
Linda E. Katz, CFP®, CDFA™
has received extensive training in behavioral finance and incorporates it into her financial life planning practice.
631-724-1099
Securities offered through North Ridge Securities Corp.
Members FINRA/SIPC -1895 Walt Whitman Rd., Melville, NY 11747
by Linda E. Katz, CFP®, CDFA™
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