Here is why working women must invest:
Investing is the smartest move once you start earning. Before you start thinking that investing is only for people who have a lot of cash, we would like to tell you that anyone who earns can and should invest. Until we stop earning we do not understand the importance of investing. Therefore many wait to start investing until they feel they are financially stable.Women should start investing because often in our confusion we let go of great investment plans that can be a boon in the future. A common misconception around investing is that you have to be an expert, which is not true, you just need to manage your finances. Here is why investment options for women are important:
Reaching financial goals
Whether you want to save for future studies, or an emergency fund, or for your kids future, or to save for a house or wedding, investing is possibly the best way to reach those goals.
To attain a sense of independence, financial equality is important for women. Investing is the solution to issues like gender pay and pink tax. In order to accumulate the same amount of wealth as men, investing is an essential thing for us.
Saving up for retirement
Women approximately earn 2 times lesser than men on a global average. That means even if we are saving the same percentage of our income as men, we are not going to save the same amount. And women also tend to live longer, so this money has to last longer too! So in case of retirement, a woman needs money to be independent at that phase of life.
Women are more likely to leave work early
It’s unfortunate that women are much more likely to leave their work and career than men. Many women take breaks or are forced to quit their job or have employment gaps. In all these cases positive investment habits are important to lighten this burden and allow women to feel comfortable while taking time off from work. Strong investment is important to manage finances in breaks or gaps.
How to invest?
- Choose a strategy that is appropriate for you
Not all investment properties are equal, so choose something that suits your income and is easy to manage.
- Budget allocation
Do a proper budget allocation before investing money. Experts suggest that you should keep your needs at 50% of your income which includes: food, rent, clothes, utilities etc. and then 30% should be dedicated to self-care and the rest 20% should be invested.
- Trust your gut
You are going to invest your money for your financial future and in order to do that you have to trust yourself first. Reliancesmartmoney.com offers an all in one investment platform with multiple investment options to you can choose from, that best suit your requirements. There are recommended investment options and robo assist tool backed by research to help you meet your financial goal.