Today’s female is in charge of, well, EVERYTHING. Earning a living, navigating corporate promotions, raising a family, being charitable, staying healthy and financially fit are all a priority. Below is a list of mistakes that if you can avoid, should put you on a course of owning and improving your net worth.
Top 10 financial mistakes:
10: No investments in your name.
9: Allowing your husband to make all financial decisions.
8: Blindly signing your tax return without knowing your taxes.
7: Not knowing how much it costs for you to live.
6: Waiting for a raise instead of asking for one.
5: You have money at the bank but no retirement funds.
4: Not investing until you get married, your kids to go to school or you get a promotion.
3: You don’t believe in your ability to make financial decisions.
2: You selected your job because it’s your passion; not for salary, benefits or what you are skilled to do.
1: Financial sin...Using the excuse “Money is not really my thing,” to avoid being financially savvy.
“Only one in twenty women say they are confident in all areas of their finances,” according to the Brennan Wealth Advisors Women and Money report. The report highlights women’s aging trend as the single biggest reason females must get in the money game. At some point in life, females will be forced to be financially responsible for running their life. Why not start now?
Women can avoid the mistakes above by being an active participant in money decisions. Knowing your current financial condition, where money is invested and how much debt you have is the first step. Next, make an investment goal and invest monthly to achieve it. If you’re already invested, review quarterly statements and meet with a financial advisor. Make it less complicated by staying current and see how your confidence grows.
Welcome to the journey!
Investing involves risk, including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss. Past performance does not guarantee future results. Although the information has been gathered from sources believed to be reliable, it cannot be guaranteed. This material contains forward looking statements and projections. There are no guarantees that these results will be achieved. It is our goal to help investors by identifying changing market conditions; however, investors should be aware that no investment advisor can accurately predict all of the changes that may occur in the economy or the stock market.