A couple of years back, financial planning was a thing for men. Men were the sole breadwinners of the family. Surprisingly, the fast-paced society has swung the pendulum on the other way around. It opened its door to women by giving them not just the power to earn but also the opportunity to decide on financial matters.
Research shows that, in financial planning, women pick up the pace more quickly than men. Below are the five facts that you should know about women.
1. Women are more strategic and influential when it comes to making financial decisions.
Women of today narrowly look into their social security benefits. They are more inquisitive about their retirement expenses vis-a-vis the health care coverage they need for it. Not just that, they also design a cash flow strategy in preparation for their retirement.
Unlike men who are sometimes overconfident and impulsive decision-makers, women spend time weighing the pros and cons of something before making a decision. They even research it.
2. Women are principal household earners.
Women who make their own money are dominant decision-makers. Do you know that women take control of almost 50% or more than $5 million of properties in the country? For the next four decades, they are likely to take over $28.7 trillion intergenerational assets transfer. They are empowered
3. Women invest their money to achieve a predetermined goal.
More often than not, women do not invest their money. Instead, they save it in the bank as an emergency fund. But, when women have a certain financial goal in mind, they never hesitate to invest. They make sure that they get what they want. As a result, they outperform men.
They seek assistance from a trusted financial advisor in creating a financial plan. More than anybody else, they recognize the worth of seeing both the long-term and the short-term financial goals at a bigger picture. Through this, they make financial decisions more intelligently and on purpose. Without a doubt, they stay on track.
4. Women are willing to learn new including financial planning.
Many women take on the role of being the sole financial decision-makers because they are more financially-educated than their male counterparts. Millennial women become more enthusiastically involved in money management and investment opportunities. They are inquisitive and willing to talk about finances with the right financial advisor. They bring up personal matters like retirement, investment, and savings.
5. Women have the gift to win somebody?s trust effortlessly.
Women can easily build trust with other people. This is the secret behind many women?s success in financial planning. Unlike men, women are more light-hearted and flexible when it comes to emotions. In making decisions, they don?t just keep an eye on numbers or data. Instead, they peep through emotional cues and intuitive insights.
Gone are the days that the financial industry isn?t cordial to women. Over the years, women have sought their way into an industry where men took the lead in the years past. When it comes to financial planning and decision-making, women are proven to be highly-driven individuals- not to mention that they are highly-talented too. Such qualities lead to overall productivity, client acquisition, and customer retention. No doubt, they have made it to the top.