Women who invest in the stock market
RICHMOND, Va. (WWBT) - Less than half of women in the United States invest in the Stock Market. That’s according to a new survey conducted by NerdWallet.
Forty-eight percent of women currently invest in the stock market compared to 66% of men.
What’s even more alarming is women are less likely than men to have learned about investments.
“A lot of times girls are taught more at a young age about saving and budgeting when it’s about finances, whereas boys learn more about investment and credit scores and how to build wealth,” Tiffany Lam Balfour with NerdWallet says. She says it shows sometimes at an early age men and women are put on a different path.
The study was conducted by NerdWallet and the Harris Poll. It surveyed 2,000 adults. It also found men are more likely to report feeling confidant when it comes to talking about investments.
Lam-Balfour says there are ways to change these stats for women to re-write their financial future. “A lot of women tend to invest less and also wait longer because they feel like they need to have more to start investing. We encourage people to, women to start investing as early as possible,” Lam-Balfour said.
It’s important to get that compounding interest over a long period of time.
There are lots of platforms out there where you don’t have to have an account minimum. You can just put a small amount of money in to get you going.
Automatic deductions from your paycheck, even just $20 or $25, can help you siphon money away and you don’t even think about it.
Look at the possibility of hiring a financial advisor. You could also try a free Robo advisor online.
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