Hi, Jenny. Thanks for taking the time
Q1: The world of investing is still dominated predominantly by men. What do you think keeps women from investing?
A: Many factors, really. I think it depends on how you were raised. If the women in your family had active involvement in the family’s finances, then you may be naturally inclined to invest more. Confidence plays a big role.
Women also tend to be more risk-averse. At the end of the day, most people invest what is left of their income after expenses, and statistically, women have less earning potential than men to account for career breaks to raise children and care for others – the unpaid care work in society.
The good news is women are in a better position to invest than ever before. The opportunity is there to empower each other and normalise conversations around money.
Q2: What advice do you have for women who want to begin a portfolio but don’t know where to start?
A: Do lots of research – read, listen to podcasts and watch videos on the financial topics that interest you. It’s amazing what you can learn from YouTube these days.
Before you make any serious moves, I do recommend speaking to a professional (e.g. your accountant or financial planner). They can point you in the right direction and keep you on the right track as your portfolio grows. Just start with $100 per week. Time and the power of compounding is your best friend – $100 per week with a return rate of 10% is over $1m in 32 years.
Q3: What are your top 3 tips for being more confident with money (for anyone)
- Educate yourself. Be curious, be interested and do your research
- Sit down and actually review your income & expenditures from the last year (that way, there is no excuse for saying, “but I don’t know where all my money went”)
- Map out your future income and expenses (use last year’s expenses as a guide), and start doing weekly direct debit on money to be put away for investments.
Thanks a literal million, Jenny.
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Jenny Hotman is Co-founder and Partner at Hatcher Advisory. Over the past decade, she has built a rock-solid reputation for helping her clients conquer their ATO debt, reach audacious goals and propel their businesses into serious growth. Jenny is highly skilled in strategic advising, tax planning, wealth management, superannuation & estate planning, insurance solutions and more. She’s inspired each time she helps a client buy their first home or investment property.
