Do Men and Women Invest Differently?
When I was training as a financial advisor, I remember sitting with a mutual fund representative who asked if I wanted marketing material to help me target some of my female clients. Being a polite person, I responded that I would appreciate his help and review his information. Thankfully I read this material after he left otherwise he would have seen me laughing out loud at the ridiculousness of what he left behind.
Throughout the presentation, there was a clear assumption that women are conservative investors who are looking for relatively safe investments only. At this point, I had not gathered that many clients, but as a woman, I found the overwhelming stereotyped presentation offensive. As I started growing my client base, I came to realize that these stereotypes weren’t even accurate.
I have never compared or contrasted my experience with another advisor, and I thought it would be fun to bring back my friend and fellow former financial advisor Joe Saul-Sehy from the Stacking Benjamins blog and podcast to get his perspective. Throughout the course of the conversation, we chat about men and women and investing as well as the importance of investing for goals rather than mindless investing.
What Are We Drinking
Since we were both too busy to shake cocktails, we opted for an easy solution: beer.
Joe: Acme California IPA – we chatted about this label before and during the show. What’s your thought on the length of the woman’s skirt?
Shannon: Bud Light – I am notoriously a cheap beer drinker and Bud Light is my favorite cheap beer.
Sites and Resources Joe Recommended
Can I Retire Yet? – for retirement calculators
Morningstar – to compare investment returns for different investment options
Random 3 Questions Joe Answered
- What is your favorite movie you have seen recently?
- What’s the favorite race you have ever run?
- What other podcasts do you like to listen to?