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Do you invest?
Are you a woman who invests? Do you take advantage of your company's 401K or 403(b) option? Do you have a Roth? Do you invest in individual stocks? Use a robo-investing app? How as women, do you seek to grow your wealth?
cmst3
Travel PFS consultant.
183
06/24/19 at 3:20AM UTC
I invest on my own as I am a contract worker. My current employer has a 401 that I can contribute to if I stay with them long enough. Have been with Fidelity for 15 years.
Francesca Vanderwall
610
06/24/19 at 12AM UTC
Full disclosure: I'm working on my licenses to become a financial advisor. So I'm a little biased...
My mom (a single parent) died when I was 13. I received a small inheritance when I turned 21. That was when I started investing...I met the financial advisor that had been helping with the trust and started calling the shots with that money. My portfolio is well-diversified but conservative for my age since that's the only thing I have left of my mom.
Since then, I've funded a 401(k) at work with the help of my advisor as well as helping my husband fund a Roth IRA. We have a well-stocked emergency fund and I'm evaluating if/when to have my husband open a 403(b) through his school. We have a 529 plan (in my name) that's funded by some stock I inherited; keep your fingers crossed we'll be able to get pregnant some day and put that money to use!
Anonymous
06/23/19 at 1:22PM UTC
I've always maxed out my 401k contribution because I didn't trust myself to save and that was a forcing mechanism. Obviously if your company matches, then your company is literally giving you money that one would be foolish not to take them up on so long as you can part ways with a bit of your salary.
Elizabeth AbelAccounting, admin pro for 25+ years
43
06/23/19 at 1:46AM UTC
I follow a FB group caller HerMoney that's just for women.. all sorts of money/finance related queries, questions and conundrums. It's very she-pportive and full of good advice and suggestions. A strong influence in the group is Jean Chatzky - you can check out her stuff too.
Karina A MondragonUX UI Designer
27
06/22/19 at 2:16AM UTC
Yes I do
Lady PeleRetired Project Manager
3.96k
06/21/19 at 6:15PM UTC
I started my 401k when my company first offered it. I was in my early 20's, and only put in enough to get the matching. I increased my contribution with every salary increase until I maxed out.
In my mid-30's, I lost both my parents and we took my inheritance to a financial adviser who is a fiduciary. We reviewed everything, from expenses to goals to insurance to wills to trusts to risk tolerance. We've worked with him for years and have a solid and diversified portfolio.
Melissa HalfonData Engineer
348
06/21/19 at 7:38PM UTC
A 401K is always a good idea!
Anonymous
06/21/19 at 5:42PM UTC
I recently started working with a financial advisor who is assisting me in rolling over my old 401K/403(b) accounts into a single IRA. I also have a Roth, and am taking advantage of my new job's 403(b) option.
I tried Wealthfront for a while, but didn't love it. I tend to be risk averse and watching my liquid capital bounce up and down made me nervous. I tend to prefer long-term investing, although I'm interested in ways to grow my wealth in the short-term.
Peg Bittnerretired auditor now into volunteering
620
06/21/19 at 8:59PM UTC
I was very fortunate when I was working and a tad smart years ago. With my first employer, they set up a profit sharing plan and I did have a nice amount set aside for retirement. However when I left along with a number of others and we received our statements I noticed immmediately that the interest we earned on our investments was insanely wrong, This way back when interest rates on savings were 18%. We only received 4% and so I quessed it and demanded my money to rollover. It took awhile but I received it. It did my ego a good boost since I only had an associates in accounting and I took on a group of CPAS. Later, at another employers they offered everyone a three day seminar on investing for the future. My best friend and I realizing That we were on the other side 40 and need to think about beyond 65. So we went and learned a great deal. The company who conducted the seminar even provide individual profiles based on our financial situation and lifestyle and projected what each of us would need during our retirement. A few years later, the employer added a benefit of investment counseling with a noted investment company and as an incentive to sign up there was no fees at sign up time through the end of the year. Knowing what I already knew and what I did not know, I signed up and the advisor I met with me taught me everything I would need to know about investments for the first few months we met. He would make a presentation, give me options and then let me decide what I would like to do. If he thought I was heading in the wrong direction of what I wanted to accomplish, he would remind me what was discussed earlier and show me how I was going in the wrong direction. Within the first month of investing with his firm I made more money in that first month that that entire year I did with my former employer. I am still with the gentleman and the investment company and it has been a great business relationship for 15 years. When I started out I was thinking not as I am a woman what am I going to do? I looked at it as "How am I going to live when I retire and beyond? I took advantage of all the various ways of learning about investing by participating in the seminar, reading books on my own from different authors and companies, asking questions of all kinds. I did not hesitate about the question, if I wanted to know I asked. I even interviewed the investment expert. I wanted to know about the person who will handling my future funds. I wanted to assured we would be able to work together easily. Women should never be afraid of investing or looking after themselves. We are our own best friends and best friends look out for each other.;
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