Why Women Need to Start Investing Now
Dear Readers: My last two columns have focused on what are, to me, two very important topics: the importance of investing and how investing in a 401(k) is one of the easiest and most accessible ways to get started. Historical statistics and personal experience with all types of investors leave me with no doubt that, over time, investing in stocks can be one of the best ways to grow wealth and achieve financial security.
"OK," you may say, "I get it." But a recent Schwab financial literacy survey of the money attitudes of young adults demonstrated that there's one group that still has a long way to go in "getting it" — women. And this, as you might imagine, disturbs me greatly.
According to the survey, young women were half as likely as young men to have an investment account. That's not to say the women surveyed weren't interested in finances. They worked several jobs, saved, paid off debt and saw the importance of a financial plan. They just didn't invest. So, why is this?
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