We wrapped up our 2014 Smart Women Finish Rich® seminar tour just last week, where over 3,000 smart women signed up to attend events in 14 markets over the last 30 days. Our team of instructors had the honor and pleasure of meeting so many of you who took time from your busy personal and professional lives to make it a priority to join us.
The response we received from women across the country only confirmed what we already know — women are stepping up in a big way to take control of their own financial futures and that of their families.
Thank You for Joining Us
If you attended one of the 75 seminars offered, congratulations. If you missed it, take heart! Based on demand and the feedback we received, Edelman Financial Services will be bringing the Smart Women Finish Rich seminars back for 2015. Stay tuned as we’ll be announcing cities and dates very soon. Once we do, clear your schedule, mark your calendar and make the commitment to be there. Why? Read on!
(Men, bear with me here. We have seminars being planned for you, too.)
Ladies, You are an Economic Powerhouse
You can’t pick up a newspaper or magazine lately without reading about the huge breakthroughs and advances women are making when it comes to wealth creation, business and education. The numbers say it all — women are on track to earn $18 trillion this year in America. Women own 10 million businesses and are opening them at a rate of 2:1 vs. men. Women control over $14 trillion in assets and 83% of all purchasing decisions as well. Women are graduating from college at a faster rate than men and now make up over 50% of undergraduates and earn nearly 60% of all graduate degrees. Women even make better investors, consistently outperforming their male counterparts.
What’s the Driving Force?
According to a recent Women, Power and Money study (conducted by Fleishman Hillard and Hearst media), women are motivated by the desire to achieve financial security for themselves and their families.
When I look back over the many years that I’ve been teaching values-based financial planning through my Smart Women Finish Rich books and seminars, security as a value is almost always on the top of everyone’s list. It’s one of several values that can be the driving force behind making smart financial decisions. The key here is to identify what your own personal values are when it comes to money.
What’s Important about Money to You?
Pinpointing exactly what’s important about money to you not only makes it possible to plan your future intelligently, it also makes it easier to stick to your plan. Once you identify what your values are, you will do more to protect them than just about anything else in the world. Values are not tasks or resolutions, like “spend less,” “save more” or “keep the house clean.” Values are not things we get bored with. Values are what we believe in. They are what motivate and shape us — and are the foundation of the holistic approach we take toward financial planning at Edelman Financial Services and in our Smart Women Finish Rich seminars.
So, What (if Anything) is Holding Women Back?
It’s being called “The Confidence Gap.” What we’re seeing happening is that even though women are experiencing huge breakthroughs when it comes to their finances and careers and overall are influencing today’s economy (and our future economy) in a major way, there’s a hesitation to fully step into their power and take complete control of their financial destiny.
Research conducted by Fidelity revealed that 52% of women still think their husband or male partner does a better job overseeing the family finances. An astounding 80% of affluent females consider themselves “beginner investors,” compared to 50% of men. And only one in eight members of Gen Y calls herself the primary decision-maker when it comes to personal finance. It’s time for all that to change.
Through our Smart Women Finish Rich seminars, our goal is to be a catalyst for eliminating “The Confidence Gap” — through education, empowerment and support.
The Time to Take Action is Now
I know from experience that when it comes to financial education, women tend to take action when they are experiencing a life changing event like a divorce, death of a spouse or job loss — because they’re forced to. But consider this. According to the National Center for Women and Retirement Research, there’s a 90% chance that a woman will be the sole decision maker for family finances at some point in her life.
And with an estimated $22 trillion in assets projected to shift to women by 2020, I urge you to be proactive instead of reactive. You can do this — and we’d like to show you how.
If you missed our Smart Women Finish Rich seminar, no problem. Contact us today to have one of our advisors reach out to you or simply call (855) 215-7171. At Edelman Financial Services, we will get you started with a plan to help you take full control of your financial future. We’re here for you!
Have a great weekend everyone!