My colleague Tracy Byrnes of USB recently stated the following 5 statements below at a women’s networking event. I’d like to elaborate on them from both professional organizing experiences as well as personal.
1. U.S. women control more than $10 trillion in household financial assets – and that amount may triple in the next ten years – that means we can change the world.
I’m a little behind most people who stream their nighttime programs and only recently started watching Downton Abbey. My favorite part is watching the women grow into self-fulfillment and assert their equality in all aspects but especially from a financial perspective. The stage is set around 1920 and I think of how far we’ve come in 100 years and yet how far we need to go based on the homes I organize in.
2. You don’t need to know where the S&P 500 closed today, you need to know how to access your assets – all of them.
If you do not know where all your money is, hire a professional now to help you find, organize and grow it. This should be as non-negotiable as brushing one’s teeth.
3. Start making your money work for you and your goals.
If I’ve learned anything these last couple of years it’s that nobody has a crystal ball, that change is a constant, and that women should not turn this task over to another unless it’s a highly trained professional and she meets with that person quarterly to review and adjust.
4. Invest with your morals and beliefs. You can and you should.
I never used to like the topic of money. It kind of bored me but I knew it was important so I joined an all women’s investment club. Funny, once I started to understand how things worked and realized the growth opportunity, money became much more interesting.
5. Know you’re “enough.”
I have to admit that for years I didn’t think I was “enough” from a financial perspective in my home. I had given up my corporate position when I married, raised our children and grew an entrepreneurial business all by choice. For some inexplicable reason, I used to think that wasn’t good enough. Now I know better. If you feel or have felt like me, I highly recommend reaching out for help.