Do women need financial planning advice that is aimed specifically at them?
Not too long ago there was an online uproar over a ballpoint pen designed especially for women. People ridiculed the notion of such a pen…but financial advice for women may not be such a strange notion.
Some of the complaints about the pen were that it came in “feminine” colors like pink and boasted of being designed specifically for women to use. A New York Times article aimed the same kind of criticism at financial advice books that target female readers, noting that the books had “pink covers” and “catchy, if cringeworthy, titles” and that the premise that the writer is a the readers’ ‘gal pal’ can be overdone.
While on the one hand The New York Times notes that “the vast majority of financial advice is the same, regardless of sex,” it also pointed out that “despite strides in education and the workplace, [women] simply aren’t as confident and knowledgeable about financial matters as men.” The publication also cited evidence that women are less interested in investing or may feel that they don’t have the time.
However, research also shows that women “may inherently be better investors than men.” So once women start to invest, they are likely to do just fine. But for many, starting is the most challenging part.
The New York Times says that women often prefer learning about investing in person or in groups. You may or may not prefer to learn with others but if you haven’t been interested in financial planning, try to figure out an approach that works for you. It might be books, websites, seminars or sitting down to talk with Fee-Only Financial Advisor like Claire Emory. Claire Emory is dedicated to helping people, and women especially, take care of themselves and the people they love.