Hello SOTGC community,
Last week I wrote a blog article for Nerd Wallet where I outlined the five common factors of successful women investors. The twist is that all the women I interviewed who shared these characteristics were gay. No, this wasn’t a statistically valid sample, but I’m continuing to interview lesbians for a chapter I’m writing in my forthcoming book, “Every Woman Should Know Her Options: A Woman’s Guide to Successful Investing and Financial Independence.” (I am still looking for more women to interview so please contact me if you are interested in helping.)
Why am I writing this book? Because I am alarmed by the data that shows that although women are increasingly the primary breadwinners in their households, their awareness and confidence about strategies to grow their money through investing, isn’t as strong as that of men’s. Even in this day and age, too many women (in my opinion) defer to the man in their lives to make important financial and investment decisions. This includes fathers, husbands, and boyfriends.
What makes gay women different from straight women aside from their sexual orientation? They know there won’t be a man in their lives to “take care of” them so many are proactive in saving for retirement and going one step further…taking time to learn strategies to successfully invest in the stock or real estate markets.
Although I am straight, I share the same characteristics of the gay women I have interviewed. That’s because I vowed to become financially independent at a young age. I didn’t want to have to rely on a man for money like my mother had. I was saving for retirement during my very first job and I embraced the risk of the stock market so I had the best chance to grow my money. I wasn’t afraid of potential loss because I knew that came with the territory.
When I got married at age 39, I insisted that my husband sign a pre-nup and that we keep our investment accounts separate. We came into this marriage as equal partners.
If you live in the San Diego area and would like to learn about stock market and real estate investment strategies, please sign up for my newsletter by going to www.theoptionslady.com and filling out the box on the lower left of the home page.