Have you heard about gender lens investing? I must admit that it is something I am just learning about. So, let’s learn together.
To me, the two words “gender lens“ create a vision of looking through the lens and seeing the world through adjustments. The lens is a filter which symbolically contains all our personal prejudices and experiences along with those we have acquired as the result of the norms and rules of society.
I googled the term “gender lens “to see what the experts say. Interestingly enough, there were not pages and pages of quick definitions, most were quite clinical. So I am going with the one from Wikipedia which is simple and concisely states what the long detailed articles and papers take paragraphs to explain. It says:
What is a Gender Lens?
Think of a gender lens as putting on spectacles. Out of one lens of the spectacles, you see the participation, needs and realities of women. Out of the other lens, you see the participation, needs and realities of men. Your sight or vision is the combination of what each eye sees.
Gender is about relationships between men and women. Gender equality is about equal valuing of women and men – of their similarities and their differences. We need equal, respectful partnerships between men and women to have happy, healthy families and communities in the same way that we need both eyes to see best.
You can read more by clicking here.
This gives us a foundation to beginning to understand the concept of a gender lens, now to see how that term applies in the investment world and what it means to women. More next time.
Nice thought and great way to teach us about money management in an engaging manner. Thanks Legend Group!
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The Roth Individual Retirement Account (IRA) became available in 1998. It was named after its legislative sponsor, William V. Roth Jr., a Republican senator from Delaware. The Roth IRA was part of the Tax Relief Act of 1997. Sometimes we let the words for investment terms roll off our tongues without really knowing what they mean. This one is easy, it was named after someone who saw a need for an investment which had the potential of remaining tax-free during both the accumulation (adding to it) or distribution (taking money from it) phases. Of course there are rules to make that happen. As the saying goes, there is no free ride.
First, the money contributed to a Roth IRA is called after tax money, meaning the investor already paid taxes on it. Second the money needs to conform to a few rules to avoid paying taxes. I like the simple way an investment firm, Invesco, has explained it. Please just click here to learn more.
Whether we like it or not, investors often start with the long-range plan of investing money and leaving it there until age 59 1/2 and later and then life catches up with them. A recession hits, a job is lost, a major medical expense is incurred, a business fails, or some other major financial need comes along. Sometimes the investor is looking over all of her or his investment accounts to figure out how to best manage a short-term situation by accessing retirement accounts. Yes it could and has happened to investors, maybe even to you.
The information in the link is very useful as you work with your financial professional to sort things out. It is best to make an informed decision and be aware of the consequences so you can plan on them.
Until Next Time
Please remember, this is a short overview and questions relevant to personal finances and specific to the individual should be addressed to an appropriate professional to ensure that the situation has been evaluated carefully and appropriately.
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Not certain what baby steps have to do with the newly announced myRA plans? In my opinion, lots! We all have to start somewhere and grow from there! So many people get so intimidated with the top, they don’t take the first small step.
As someone who was a financial advisor and registered representative working with both experienced and first-time investors, I am excited about this interim step. Very encouraging! More next time about how I came to this conclusion.
Until then, I encourage you to click here to learn more!
To purchase my workbook, Financial Freedom Party for Women®, A Little Book about Money for Women, please click here.
I just finished reading the book “Empty Mansions” by Bill Dedman and Paul Clark Newell, Junior. The title says it is about “The Mysterious Life of Huguette Clark and the Spending of a Great American Fortune”.
Any book with the words fortune and spending just calls to my financial education mind. It would seem that a book about wealth would be all about what we call “living the good life”. I learned that the title refers to the empty properties Huguette continued to maintain even though she didn’t live in them. Interesting.
This book is about a woman and her story which revolves around extreme wealth, business, family owned businesses, decision-making, relationships, trust and distrust, and how money can be both a blessing and a curse.
Personally, it took me a long time to learn to deal with money in an unemotional manner. The main character, struggled with that for a really long time as she was born in 1906 and died in 2011. She dealt with a lot of emotions and they often guided her decisions. For Huguette, these decisions usually involved large sums of money. The world changed radically during her lifetime and she also outlived her close relatives. Some of the change was more than Huguette wished to deal with, so she created a lifestyle which was strange and unconventional to most ordinary (and even wealthy) people. Her needs for security and safety as a wealthy person played a big part in how she spent money. As an elderly woman it appeared that those who were caring for her may have taken advantage of her financially, even though the medical professionals found her competent.
It is hard to imagine the majestic homes her father created with his wealth and the mind-set of Huguette who was born into such a lifestyle and never knew anything different. Still, I was struck by the similarity between the decisions she had to make about businesses, advisors, and income management, and those made by the rest of as we manage our personal finances or make lifestyle and financial decisions about the senior citizens our lives.
Was Huguette happy living what most would see as “the good life”? It is hard to tell. That is the mystery which remains in her interesting life story.
Until next time.
Debra J. Hadsall
When I was a financial advisor, I learned that the time between Thanksgiving and January 1st was going to be a slow time for me in terms of working with new clients. Yes, existing clients were often on vacation and using that time to catch up with me and to check in about their accounts and plans. The rest of the world seemed to be waiting until the first of the new year to really think about their goals, dreams, and how their finances could be changed or improved to meet them.
Every year about this time I would print out a new list which showed the maximum contributions allowed in various types of retirement accounts. In reality, most people don’t contribute the maximum and often they just look at the list and give up. So, just remember, these are the maximums. You can contribute less and work towards your goals.
To see the list for 2014, please click here. Good information to know and to discuss with your advisor or with the person who is knowledgeable about your company or organizational retirement plans.
Please share with others. As I often say, don’t always assume everyone knows what you know or takes the time to access
Until next time.