Dear Women Investors:

by Badgley Phelps | Oct 06, 2021

We know the endless responsibilities you have. How it seems you can never catch your breath. How you try to plan for the future and live in the present. Sometimes the “list” in your brain seems to multiply like gremlins, or it feels like you are attempting to sprint up the down escalator? 

With certainty, most of us are either the CFO of our balance sheet already, or we will be in the future. A Virginia Tech survey found that “more women are taking the reins on their finances, holding 60 percent of all personal wealth and 51 percent of all stocks in the U.S.”

As a woman, there are a lot of ideas you can second guess. Should I have bought a size up in those jeans? Was booking that vacation later this year a smart idea? How should I break it to my significant other that my family is going to visit for two weeks this summer? But there are decisions you shouldn’t second guess: health care, childcare, and taxes, to name a few, plus the one to which we dedicate this letter—your financial life.

Investing and financial planning involves the acceptance of past financial choices, the reality of today, and the forecast of the future. It means putting down some stakes about your values regarding money and owning your fears. There is merit to the term, “Bag Lady Syndrome.” As women, we tend to worry more about the longevity of our money and question whether investing is worth the risk. We never hear “Bag Man Syndrome.” Men have higher confidence when investing. Small financial decisions made early on, and bigger decisions later in life are extremely impactful to our financial legacy.

Financial management is most successful in a partnership. The best ideas are borne out of the collaboration of multiple minds. There is no doubt that going it alone appears to be economical. Hiring a wealth manager means paying for their expertise in investing and guidance in planning. Engaging a manager also means accepting that you aren’t the next Warren Buffet. It’s okay. Taking control of your financial future will have some costs, both in terms of dollars and in emotional change. In return you will find a financial confidante, or in Badgley’s offering, a team of confidantes. These are professionals with whom you can be “real.” We want to hear your stories. From fears about retiring to concerns about being dependent on your partner, from wanting to make the most of your time on this planet to wanting to educate your kids for their own financial future, we have heard and done it all. Life happens. Lean on experts to guide you and identify your blind spots in an area of your life for which you don’t have to be 100 percent responsible.

We know you because we are you. Fifty percent of our employees are women. Yes, even at the senior level. The industry average is an embarrassing 17 percent. If it is not Badgley, find your financial team. Know, learn, and work together with them. You deserve to find good advice and check one task off your never ending “to do” list!  

Sincerely,

The Women of Badgley

 

Originally published on October 5, 2021

 

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