When it comes to managing your money, it’s important to be actively involved. If you hesitate to make financial or investing decisions, you’re not alone. But here are three reasons to confidently take control of your financial future.
As leaders in our communities and workplace, women’s power is growing fast. The fact is, 90% of women will be solely responsible for their finances at some point in their lives1—whether from staying single, experiencing divorce, or just living longer.
Both men and women say they lack confidence when it comes to investing. Yet studies show that women have consistently earned better investment returns and have taken on less risk than men, and also save more of their income for retirement than men across every single income level.
It is never too late to start learning more and increasing your financial literacy. There are plenty of steps you can take, big and small, such as joining an online community focused on investing or working with a financial professional for guidance. You don’t have to be a financial expert, but taking charge now and having the basics will go a long way in helping you build your savings, prepare for emergencies, and make key financial decisions.
Be sure to keep an eye out for upcoming events at UC, too. Recently, the UC Systemwide WellBeing Initiative sponsored an event at UCLA especially for women called Helping You Achieve Your Financial Goals. Kathy Murphy, President of Fidelity Personal Investing, addressed a crowd of nearly three hundred women at UCLA during which she reflected on why it’s so important for women to be actively engaged in financial planning and investing. For those who weren’t able to attend, the event was recorded and is now available. This incredibly popular video already has over one thousand views.
1 "Women in the Labor Force: A Databook," U.S. Bureau of Labor Statistics, 2012.
2 National Center for Education Statistics, Digest for Education Statistics, 2014.
3 Pew Research Center Study, 2014.
4 Boston Consulting Group, Women Want More, 2009; Why She Buys by Bridget Brennan, Crown Business, 2011.
5 Fidelity Investments workplace savings plan data analysis, September 30, 2016.
6 Fidelity retail customer data analysis, Jan 2012–Dec 2016.
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