Investment is serious business. The money you put in stocks, bonds, or other assets with stock advisory today could have a significant impact on your future. However, for some reason (stereotypes?), many women are intimidated by investment and don't take active ownership of their own financial well-being. Here are 3 important investing questions women should ask themselves:
What Are My Household's Investment Goals and Limitations?
One of the most important things you can do before you make an investment is to know your investment goals and risk tolerance. Everything else you read on investing will be useless if your overall mindset is to be a mindless investor and do what everyone else is doing.
If you're buying investments with your spouse or partner, your family members and anyone else who is investing with you, you'll need to adjust how much risk you take on and how you invest. You can even take guidance from investment advisory.
How Am I Allocating My Household's Investments?
How are you allocating your household's investments? Do you have an actual plan or are you just making guesses? Investing without a financial strategy is like trying to navigate in the dark. It just leads to confusion, wasted money and more stress. Your first step is knowing how you are allocating your investment portfolio and then using a financial planner to create a practical strategy.
Do I Have a Trusted Financial Professional?
When it comes to finances, women are less confident than men, and this is particularly true in the marketplace. In a recent survey, “just 40 percent of women had a high level of trust in their own financial decisions versus 49 percent of men.” As a woman, you should have a trusted source of information — whether it's your spouse, your daughter, or a best stock advisor in India— to help secure your financial future.