Why Is it Important for Women to Invest?
TIME.
Women in the workforce usually have less time to accumulate their retire-ment income than do their male counterparts. Between having and raising children, many women lose an average of 14.7 years from their careers. This dramatically reduces the amount of savings and social security income available to them during their retirement years.
MONEY.
Currently earning $.72 for every $1.00 that men are earning, it's even more important that women understand how to protect, and make the most of, every dollar they earn. Many women are finding that investing is the best way to make the dollars add up.
So how can you guarantee that the money you invest today will be safe for tomorrow? Unfortunately, there aren't any guarantees when it comes to investing your hard-earned money, but there are steps you can take that will go far to protect your investments:
Know Your Goals
Be aware of what you hope to accom-plish with your money, and how soon you may need to access it. Are you planning to buy a home? Are you planning for your retirement? Hoping to assist your children with college expenses? Will you be a caregiver to elderly parents? The answers to these questions will help determine the path you take as an investor, and assist you in determining the types of investment products best suited to your needs.
Be Aware of Your Resources
There is a wealth of financial information right at your fingertips. The internet can be a fantastic source of information, but do your research carefully. Infor- mation is abundant, so you'll need to read much, distinguish between the good and bad, and tailor the information to your needs
One of your best resources is the Texas State Securities Board. Along with the brochures we produce that explain the basics of investing, define the jargon, and help you navigate the pitfalls, you can contact us to find out if the investment professional you are con-sidering working with is registered, or has been the subject of a disciplinary action.
Remember — it's up to you to make the most of your money. If you're a beginner, your first investment should be in your learning curve. Financial literacy can help you succeed in making powerful financial decisions for your future.
Before investing, ask if the individual selling the investment is licensed to do so. Investors can also save them-selves a lot of grief by asking a second question — whether the investment itself is registered or traded on a national exchange. To check out an investment or salesperson, contact the Texas State Securities Board.
