Traditionally, investments have been a male dominated sphere of activity with women being convention bound to be cautious and to refrain from taking risks and live under the burden of conservative social taboos, behavioral patterns that run contrary to what an investment strategy demands. Testosterone fueled men on the other hand revel in taking risks and have embraced investments like ducks taking to water. With rising employment share and more disposable income, young women are equally capable of investing money as their male counterparts, and many are investment ready at a younger age.
The key to a successful investment strategy is to conceptualize your goals, and the earlier you do that the better. Consider all the things you wish to achieve in life and start by laying down a time-frame for each goal. Determine, for instance, when you would like to purchase a home, when to marry and raise a family, when you will need to support your children’s education, and most important when you will be retiring. The earlier young women plan their investments; the smoother will be their transition into a well-defined life.
Even though women are less inclined to take risks, this should not prevent them from assessing the nature of risk relevant to each of their investment options. When you are young and energetic and physically healthy you will probably be in the thick of an eventful career with a steady source of income. At this stage you should lookout for high growth stocks, commodity trading like gold and precious metals, and real estate that are risky but highly profitable investments. Only ensure that you do not invest more money in risky investments than you can realistically afford to lose. To be doubly safe restrict your unsecured debts (Credit Cards balances) to manageable levels.
Never make the mistake of ignoring your personal finances. A nationwide survey conducted by the National Center for Women and Retirement Research revealed that more than 75% of women were losing their spouse by their late 50s, and a third of these women had emergency funds that barely lasted two months. More than two thirds of American senior citizens facing poverty happened to be women. Modern young woman urgently need to imbibe lessons in managing their personal finances to avoid the situations faced by the older generation.
Young women should plan their savings, choose investments wisely and service a retirement fund to recoup strongly in the event of the death of their partner, or if a divorce occurs. Young women need to nurture and protect their financial independence as much as they involve themselves in fostering co-dependence with their spouse. If many women are facing abuse and varying degrees of hostility from partners and family because of their increasing thirst for financial independence, they should firm their resolve to pursue their avowed goals, no matter what.
As a young woman you have a whole lifetime ahead of you to educate yourself in the finer nuances of personal finance and investments. Do not hesitate to ask colleagues, peers and even your boss what investment strategies they pursue. Take advantage of free personal finance seminars and study classes that your employer may organize. Browse the internet and learn about trading and taxation and different categories of investment schemes that are popular in the market.
If you happen to own a car remember that you have at your disposal one of the best loans that can unlock the equity in your car-the loan for vehicle title. These cash loans for title are a reliable source of emergency cash for tackling situations when you may be short of cash with no one to approach for help. The chief advantage of the auto collateral loan is that it is approved within minutes, without the necessity of credit checks, and a bad credit history is not a constraint for availing the facility. You get up to 60% of your vehicle’s resale value as the pawn car title loan, and with interest rates hovering below 25% APR and repayments that can be stretched beyond a year, this is one of the most attractive loans in the short term lending market.