Historically, Wall Street has not always done the best job representing women and identifying their specific goals and needs. This is not hard to imagine considering we live in a world where women typically earn only 79 cents to every dollar a man earns.
So what’s the best place to get good investing advice for women?
One of the primary reasons why I left Wall Street to build LexION Capital was so that women like my mother would have a place where they would feel included. Throughout my career I have urged women to invest in their own lives and in their own futures because not enough of them do.
According to a 2015 Money Mindset Report, just 28 percent of women have a retirement fund and only 15 percent of women say they have a long-term financial plan. However, if women want to build better lives for themselves, it is extremely important that they invest in their future retirement and set up a plan for long-term financial success.
In fact, not saving can be detrimental to your future and your financial well-being – particularly when it comes to your retirement. In order to accrue $1 million by age 65, a 25-year-old woman would need to save at least $381 every month in an account earning 7% interest.
If you are one of the many women who have been putting off saving for retirement until you “have more money,” (you know who you are!), you need to stop thinking that way and start setting financial goals and saving seriously.
The earlier you begin investing for your retirement, the better.
Are you looking for investing advice for women? For more information on retirement planning and how you can start today, visit my company’s website, LexION Capital, for more resources.
Interested in investing? Reach out to us today and see how we can help you create a better financial future.
