The Good:The Age of Women Is Now Fully Recognized
Well, finally, some 40 years after Gloria Steinem and other feministas did those unthinkable things to bring on the revolution, they are noticing. "They" being everyone from Madison Avenue marketers to Wall Street ... and even more recently from the heights of the president of the World Bank. The demographics - and actuarial tables - are finally indisputable.
Meanwhile women are rockin' it, and "They" know we're going to bring it.
The big questions are: Do we know? ... Are we prepared? ... and, as importantly ... Have we stepped up to full ownership?
The Bad: We're on Their Radar, But Not a Lot Has Changed
I've read two newsletters this week written by financial institutions for the intended audience of financial advisers. One described the unexpected passing of the husband and its effect on the wife as "The Perfect Storm"! 'Perfect for whom?', I was left wondering when I finished the article. Another reads: "The women's market indeed represents an attractive opportunity for all financial advisers."
While they're still trying to figure it out i.e. really understand how they can better serve their female clients with a more effective approach, I offer these three tips:
1. Do Your Homework
Prior to any meeting with financial professionals (of any designation), prepare some questions ahead of time that demonstrate you're being vigilant. Ask them about their take on a current economic headline(s) or ask something specific about a news item on a company or asset in your portfolio. Send the signal that you're in-the-know - even if you just barely have a grasp of the basics.
2. Take charge and make it an educational experience
Whether by design or not, people in the business use their own language. When the jargon is thick, and you're not getting it, ask them to reiterate in language and terms that you can relate to. Many are just unknowing and it's in our best interest to tell them how to treat us. This is just one way we can step up and "own it".
3. Continue to seek quality financial education
It's a process and may seem like a long learning curve, but ultimately any step you take makes a difference.
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