More women than ever before are the breadwinners in their households, and – albeit slowly – the pay gap between men and women is closing. While the sexes are becoming more equal in the home, personal investing seems to be a different matter.
Financial services is a male-dominated industry, so one may think that fewer women invest or are active in the stock market simply because they just aren't there. But what about women in finance? Are they actively managing their portfolios?
Darline Jean, president and CEO of the About Group, openly admitted to the Wall Street Journal that she doesn't "have the downtime to look at all those stock tickers and research every one of those companies' performance histories."
She also told the source that she thought that the online interfaces of financial services firms remind her of moving targets – which is probably like men like them, she joked. She continued by mentioning that she uses a financial adviser to help her reach her long-term goals.
The financial services industry itself may be to blame for the gender gap. Over the years, these companies have not made much effort to attract female clients. This may change as more women work in higher-paying industries.
According to Amanda Steinberg, the founder of DailyWorth.com, however, it is not up to the financial services industry alone to convince women to take risks and change their attitudes about money. In addition to seeking assistance from financial advisers, Steinberg told the source, women should also take the time to educate themselves about the basics of investing.
New and veteran investors alike should take the necessary steps to reduce risk and keep their investments safe. SmartStops offers investment analysis and portfolio management software that traders need to stay apprised of market changes.