Women are rising within the global workplace, but has this rise also been reflected in their personal finances?
This article dives into the key findings from American business Fidelity Investments, who did a 2021 study on Women and Investing. While the data may be American based, we have witnessed these general insights within the Trinbagonian female populace and in the Caribbean at large.
Get into the study’s findings, below.
This article is an 11 min read.
Women have been making positive strides within the workplace across many industries. What was once male-dominated c-suites, we’re now living in a time where women are within the boardrooms and senior positions of organisations, big and small. For example, within the financial sector of Trinidad and Tobago, we have SDATT (the Securities Dealers Association of Trinidad and Tobago) experiencing its first all-female executive (of which our CEO, Dalia King is the President). This shift is welcome and to be expected due to the consistent focused determination of women through the past years to present.
The shift we at Firstline want to push forward, within Trinbago and the Caribbean region as a whole, is where women are seeing these same positive strides not just in their careers, but also within their pockets. As an organisation whose sole purpose is to create wealth for our clients, we know and have witnessed the power of investing and how it impacts a person’s personal finances and quality of life. We have also witnessed how the societal gender norms have played into women’s hesitation with getting more hands-on with the tools required to expand their wealth.
Everyone can invest, everyone can experience the benefits of investing – you just need the right people to show you how to do it, and how to integrate it into your life. We can do this for you, but for now, let’s dive into the findings of the study.
Fidelity Investments (FI) found that 67% of women are now investing outside of retirement. That figure is up from 44% in 2018. In fact, as seen in the chart below, they have found that 71% of millennial women (ages 25-40) are actively investing outside of the typical retirement fund, 67% of Gen X women (Ages 41 – 56), and 62% of Boomer women. What was also found was out of 5.2 million people operating their own investment accounts over 10 years, on average, investments made by women outperformed their male counterparts by 40 basis points or 0.4%.
Individual Stocks Or Bonds
Mutual Funds Or ETFs
Money Market Funds Or CDs
ESG/Sustainable Investments
Cryptocurrencies
The study has found that 9-in-10 women plan to take steps within the next 12 months to help their money work harder to grow. Among their goals are increasing their understanding of financial planning and investing, creating a financial plan to help them reach short- and long-term goals, reaching out to a financial professional to take action, and investing more of their savings.
In addition to how to get started, women want to dig deeper. They are interested in learning about the mechanics of investing, including selecting different investments to align with goals, evaluating and managing existing investments, and cryptocurrencies. Firstline clients enjoy the benefits of having an expert monitor their funds for them while being able to be as involved as they wish in understanding the mechanics of investing, learning how to manage their investments, creating financial plans for their specific goals, and so much more.
Increasing Their Understanding Of Financial Planning And Investing
Creating A Financial Plan To Help Them Reach Short- And Long-Term Goals
Reaching Out To A Financial Professional To Take Action
Investing More Of Their Savings
At Firstline, we are experts at creating, growing, and maintaining wealth in Trinidad and Tobago.
With some of our staff working for over 4 decades in the financial industry, in addition to the success stories, they have witnessed many a person’s finances rise and fall or stagnate, and there are specific actions taken by those who keep their finances rising over their life, compared to those who were not as proactive.
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While the data showed an encouraging increase in women beginning to invest, only 1/3 of women see themselves as investors. This data was broken down even more to show that:
Of Women Feel Confident In Their Ability To Save For The Long Term, Including Retirement
Of Women Feel Confident In Their Ability To Make Investment Decisions
Of Women Feel Confident That Their Non-Retirement Savings Are Invested Appropriately
Of Women Would Say That Know A Lot About Savings And Investing
Among millennial women, 77% have said that their finances have kept them up at night, with 44% of them stating that finances have kept them up at night at least once a month. Going in depth, 52% of women specified that long-term finances are what has them up late:
86% of women agree that having their investments managed by professionals made their life less stressful.
At Firstline, our investment clients get exclusive access to invest globally in stocks, options, futures, currencies, bonds and funds. The options are vast with 150 markets, 33 countries, and 25 currencies at their fingertips.
Discover a world of opportunities with Firstline Securities.
We are Firstline Securities Limited, an independent financial services firm, based in Trinidad and Tobago.
We are experts in creating, growing, and retaining wealth for our clients in T&T, as well as in the French, Dutch, and OECS territories of the Caribbean.
We invite you to look around our website for more information. If you’d like to begin the process of becoming a client, simply click the button below.
