By choosing investments carefully, a woman has the potential to both support herself into her retirement years, generate passive income that will help create a stable living situation, or invest capital in such a way that it will help with educational or other expenses for herself or others.
Over their lifetimes, women make less money than men. This is, in large part, because of the overall wage gap; Hispanic women make around $0.63 for each dollar that a white man makes; Black women make slightly more at about $0.68, and white women are closest to equality with $0.81 to the dollar.
Combine that with the fact that women tend to live longer than men, and it’s obvious that women are going to struggle financially more than men do, especially at the end of their lives.
Smart investing is one way to make up the difference and improve financial quality of life during retirement. How can women find investing opportunities for women which have a big impact?
The first, and most important step of building a strong investment portfolio is to become educated about investments. You need to know the differences between stocks and bonds, how dividends are paid, passive and active income, and how all of these different things will be taxed over time.
This helps you to make sure that you get the right money in the right place at the right time. Don’t be afraid to ask financial advisors questions. If they seem irritated or frustrated with your questions, find another advisor. They work for you, after all.
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