Starting your investment journey is possible at any stage, even with limited funds. Nancy Tengler emphasizes this point.
Women need to invest to transform earnings into lasting wealth. Yet, despite the awareness, many still lack confidence in their investment abilities. A recent survey shows only 22% of women consider themselves knowledgeable about investing, compared to 46% of men. Interestingly, studies indicate that women often achieve higher investment returns than their male counterparts. So, why the disparity in confidence?
Fortunately, Nancy Tengler, author of The Women's Guide to Successful Investing, shares valuable insights on how women can approach investing with greater assurance during a recent podcast episode.
From an early age, Tengler recognized the significance of both hard work and smart investing in wealth accumulation. Reflecting on her childhood, she recalls, "My mother worked multiple jobs after my dad left. I took on various jobs, and soon realized that saving alone wouldn't be enough to build wealth; investing was crucial."
She also understands the challenges of prioritizing savings amid daily expenses. "When you're managing a household, every dollar counts. You might think, 'I'll just spend this extra $50.' But if you invested that instead, the potential returns could be substantial," she explains.
So, why do women invest less in the stock market compared to men? Tengler points out that many women perceive investing as risky, similar to gambling. "They view it as a sport without realizing that stocks represent real assets. Don't let market volatility deter you from investing," she advises.
Tune in to hear Tengler's strategy for building a diverse investment portfolio, likening it to curating an invitation list for a dinner party. She shares tips on conducting research to pick stocks with strong leadership and recounts her own experiences with market ups and downs.
