The Ninety One Women and Investing seminar saw financial planners Janet Hugo, Director, Sterling Private Wealth, and Babalwa Nonkenge, Investment Specialist Advisor, 20Five Wealth, led by acclaimed personal finance journalist and author Maya Fisher-French, discuss key insights and strategies for women to manage their finances, invest wisely and plan for their future financial security. The panel dispelled common investing biases and provided practical tips for women at various life stages. We highlight some of the key take-outs from the discussion.
1 Financial planning before marriage and children
Have open and honest financial conversations with your partner before getting married or starting a family. These conversations are vital for your relationship’s emotional well-being and financial health. Remember that while planning for retirement together is crucial, ensuring that you and your partner save adequately for your individual futures is equally important.
2 Valuing caregiving work
Whether you’re caring for children or elderly parents, understanding the worth of this role is crucial. Start by quantifying the financial needs associated with caregiving and treating it as a legitimate financial goal by planning for it.
3 Empowerment and education
Financial education and empowerment are the core of taking charge of your financial future. Educating yourself about investments is key. Whenever necessary, don’t hesitate to seek professional financial advice and ask for clarity when there is something you are unsure about. The Women and Investing hub is packed with resources and information to equip you when making financial decisions.
4 Choosing the right financial advisor
A professional financial advisor can help you set realistic financial goals, plan towards those, and partner with you as you adapt to changing needs and circumstances. When considering a financial advisor, look for qualifications, licensing, experience, and the ability to customise advice according to individual needs. Prioritise research and seek referrals from trusted sources before deciding. Ninety One has a set of appropriately qualified and licenced advisors nationwide that can help you make informed investment decisions. Please click here to access this list.
5 Diversification and risk management
Diversifying across various asset classes and geographic regions is crucial when effectively managing investment risks. This strategy is a fundamental pillar in reducing vulnerabilities in your investment portfolio. Embracing diversity across different companies and asset classes offers a powerful means to mitigate risk. Overcoming risk aversion is embedded in knowledge and expert guidance. The panel emphasised diversifying across various asset classes and geographic regions to navigate investment risks successfully.
Despite the perception that women tend to be more risk-averse, you can be a savvy investor when empowered with the correct knowledge and financial guidance provided by a qualified financial advisor. By discussing investment strategies with your financial advisor tailored to your specific goals, you can create a diversified portfolio aligned seamlessly with your investment timelines and financial goals.
6 Starting small and being consistent
Commit to small, consistent contributions to investments. Starting early with smaller amounts allows for compounding and reduces the pressure of needing a large sum to invest all at once.
7 Goal-oriented investing
For effective investment planning, set specific financial goals. Consider your short-term and long-term needs, from creating emergency funds in the short term to planning for retirement long-term.
8 Taking control of investments
Conquer your fear of investment risks. Invest in what you understand, and remember that education and understanding play a key role in making informed investment decisions. Enlist the help and guidance of a qualified financial advisor to help navigate your investment goals.
9 Active implementation
Take action to implement investment decisions. Even if you’re working with a financial advisor, ensure you’re actively involved. Consider automated contributions like debit orders and disciplined investing to build your financial future.
10 Financial independence and empowerment
Make yourself and your financial goals a priority. Your financial independence and empowerment allow you to influence the lives of those around you positively.
In conclusion, the panel discussion at the Women and Investing Seminar highlighted the importance of women taking control of their financial futures. Through education, goal-oriented planning, and strategic investment decisions, women can achieve financial security, overcome biases, and secure a prosperous future for themselves and their loved ones.
