Consumer Alert: It’s important for women to invest, here’s how to start
ROCHESTER, N.Y. — This consumer alert is all about women and investing. Women make 84 cents to every dollar men make but live six to eight years longer. That’s why investing is so important.
News10NBC’s Deanna Dewberry recently chatted with Lorna Kapusta, the Head of Women and Engagement with Fidelity Investments.
Lorna Kapusta: “Seven in 10 women are investing in the stock market, and that is up 18 points year over year. So that’s really awesome news. What we’ve seen over the last couple of years is young women, Generation Z is leading the way with the most women investing. But what we saw in this study that we’re really excited about is Gen X and boomers had the biggest increase. And why that’s so important is they’re realizing that they have many years left and they still have time to get in, and it is never too late to start investing.”
Deanna Dewberry: “Absolutely. So many folks think, ‘I don’t have enough money to invest.’ You say what to that?”
Kapusta: “So many. And what’s great these days is that you can invest with as little as a dollar. And if you don’t know how to get started there’s lots of help and resources for you.”
Dewberry: “What are some of those resources? For the person who says investing and the stock market – it’s foreign. It’s Greek to me, sister! You say what to her?”
Kapusta: “So many of us feel that way. Women are two times more likely than men to say they have non-existent investing knowledge. And that’s okay. What we always talk about is it starts with just having money conversations and getting access to financial education.”
To hear my entire conversation with Lorna Kapusta, including her perspective on whether women should have separate investments from their partner, click below for the full interview.
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One of those resources is Fidelity’s Women talk Money website, a free forum for women seeking investment information.
Another helpful resource is Ellevest, a robo-advisor for women designed by women.
And if you’re a student interested in learning more about the world of investing, Girls Who Invest provides a tuition-free education experience for college women interested in finance.