Do you invest your money? I am rather new to investing despite always being ‘good’ with money. I was the student who managed my student loan, I got a mortgage young and have always paid for everything we have bought upfront. We have been fortunate to live without debt and have a great standard of living. I have always subscribed to the living within my means ethos and that is what we did. Each month I save some money and have enough in the bank not to worry. Yet like many other women, I have left my money sitting idle. I was not smart enough really, because I should have been investing and I wish that I had been educated about that earlier.
There is a gender gap in investing and I fell into that gap. Nobody really talked to me about investing which is a financial disaster because I would have benefitted from compound interest if I had started younger. Why was I not taught this in Maths??? Or maybe I was but it didn’t all connect up back then. Even now research shows that women who do invest, invest less than men and this leaves us with less money in our futures. To invest means greater financial empowerment and I regret that I didn’t start sooner because I could have afforded it.
The reason I didn’t invest despite having the resources to is quite simple. I didn’t understand that investing was for people like me. I had assumed that you needed a larger financial pot to start with, yet at tickr you can start with as little as £5. I found the terminology confusing and worried I would make a mistake. It felt easier just to save rather than invest, but this has caused me to lose out on the money I could have made, as the long term forecast for investments far outweighs the interest earned in a savings account! I really resonated with this newspaper article why-women-need-to-stop-saving-their-cash-and-start-investing and just wish I had known this earlier. Investing is for women like me and I should have started sooner. I had toyed with the idea many times but never quite finished the process because my lack of knowledge held me back. Thankfully investing has got easier and now it can all even be managed in a handy app on your phone!
With tickr you choose a portfolio of investments (you don’t put all your money into one company) which are split into 4 themes addressing global issues. This spreads your money into companies with a social and environmental impact. Next, you set your risk level and decide how much you want to invest each month which can be anything from £5. I am actually happy to be quite risky but that doesn’t suit everyone. This demonstrates that tickr is accessible for all women and no matter where you are on in your career path you can start investing and the sooner you start the more money you can make.
Investing in themes that resonate with you is also powerful, for example the equality theme has had positive impacts in many ways. Sticking with a gender theme both WellTower Inc who ‘Hired women to 45% of revenue-generating positions filled in 2018’ and the Vodafone Group PLC and its Vodafone’s ReConnect programme aims to bring talented women back into the workplace after a career break. The equality theme also lists companies that are helping older people manage their financial commitments for the future. Genworth Financial Inc are educating people on the effects of old age and helping them to plan if they need any care.
Apellis Pharmaceuticals Inc Are working on a drug that may slow down an age-related disease which causes blindness. This demonstrates that investing in the equality theme will have a direct positive impact on both women and an ageing population.
The benefits of investing are obvious – you make more money than you do with a savings account. Your money is put towards good causes and the industries that matter to you. You can make ethical decisions and still grow your money. For someone like me, who is a self-employed woman, investing is empowering. It is helping me build up a pot of money that I will have in my older years. Since leaving teaching I am not paying into a pension and with the rise in self-employment, I imagine that it is the same for many others. Latest figures suggest there are now 4.8 million self-employed individuals – I wonder how many are financially preparing for their retirement? For women investing is a way to reduce the gender gap and something each of us needs to consider. I hate to think it but again many marriages don’t last forever anymore and there is less societal pressure to stay together, but how many women are trapped financially after years of raising a family. Many women admit to having a separate bank account or a F*** Off Fund and who can blame them, after all it can be spent on something else wonderful, that new car or a world trip when you retire. But it makes sense to be prepared. I will encourage my children to invest from a young age as even a small amount can make a significant difference if done regularly and over time.
Investing is for everyone and https://tickr.co.uk/ have made this so easy. To get started download the app and choose your portfolio. The app makes investing accessible for all and you can easily keep a watchful eye on your money whilst it is all managed by the Tickr team.
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