On International Women’s Day earlier this week, I hosted an event with a group of investors on the clubhouse app to discuss this year’s theme – #choosetochallenge. We talked about what we see as the key challenges to reaching gender parity in investing and what needs to change or what can we do either as individuals or collectively to help move us in the right direction.
I’ve distilled down the conversation into five key challenges and a suggestion of how we might tackle each particular challenge and thought it would be interesting to share these insights and invite the Master Investor community to contribute further. If you have any suggestions regarding what we at MI can do to help improve things, please share in the comments below this post.
Some of the ways we can #choosetochallenge and make change
- Understand our limiting beliefs and educate ourselves
We can be our own worst enemies – some of the barriers are ones we place on ourselves “The Investor’s chief problem – and even his worst enemy is likely to be himself” – Benjamin Graham
- Having a financially compatible partnership or people around you
If these people aren’t in your life, seek them out but also understand that we each as investors have a responsibility to act as a role model for others.
- Learn as much as we can and share this knowledge freely to encourage and empower others
This related to lack of education, financial literacy and role models but also teaching to apply the knowledge.
- Be open and share
Lack of transparency around money (salaries, savings, investments) leads to people being on the back foot.
- Seek out support and advice when you need it – switch on and off as needed
If you’re in a position to write/lead/speak about topics relating to money and investment avoid using jargon.
To help with points 2 and 3 we would like to take the opportunity to shine the light on women from our own community of investors and share some relatable, meaningful and inspiring stories to help others start or continue their investing journeys. We have put together a set of questions that we think could help inspire others and invite you to share your answers with us by completing our survey. The questions are below but there is also an option to include an answer to your own question. We’d love to be able to share as many of your answers as possible so if you do have a couple of minutes, please do complete the survey or share with any other women who might be open to sharing their story. There is an option to share anonymously too.
- How did you get started with investing?
- Is there anything you would do differently with regard to your investment journey?
- What advice would you give your younger self or someone looking to start investing?
- What is your best, favourite or most worthwhile investment?
- What are the one to three books that have greatly influenced your investing journey?
- What would you change to encourage more women to invest?
We look forward to reading and sharing your stories. And if nothing else, hopefully this post will encourage you to reflect on the influence you have as an investor to encourage and support others in their investing.