- What led you to write this book?
I wrote my book as a way to reach out to women and communicate
about money in a story format that would be accessible and language
that was familiar. I believe that "story" allows us
to identify and absorb the lessons that are being taught in
a non-threatening and engrossing style;after all it was the
way that our female ancestors passed information over the generations.
This is not a book about investments but about our relationship
to money. After all, money is our most intimate partner.
- What do you feel to be the biggest challenge facing women
today when handling their finances?
The biggest challenge facing women today about money and finance
is time. Our lives are complex and we are called upon to juggle
our roles and manage our time with precision. The language of money and the art of investing can be learned and we are all capable of becoming
articulate; the challenge for us to to create the time to learn,grow
and support each other.
- How has the atmosphere changed for women investors in the
last 10 years?
In the last 10 years the atmosphere has changed dramatically
for women and investing but it has also changed exponentially
for everyone. Ten years ago technology was in a very different
state, there was no access to the Internet, few people had an
interest in watching CNN or CNBC. It is really since the late
eighties, the growth of the mutual fund industry, and technology
that money and investing became a subject of conversation for
the lay person. Up until then the management of money and investing
was pretty much considered to be part of the man's world, bankers
and brokers, and pinstripe suits. The Beardstown Ladies published
their first book in 1996.
- How will the atmosphere change for women investors in the
next 10 years?
The next 10 years? What an extraordinary opportunity. The financial
world has been evaluating and acknowledging the power and ability
of women as investors and financial decision makers and have
determined that we an important and critical force to be dealt
with. Technology enhances our ability to access information,
transact business and create community. We have designed and
implemented programs and seen them work. The growth that we
should be able to experience for ourselves in the world of finance
will surpass anything that we have known before.
- Where did you start your career and how did it lead you to
where you are today?
Where did I start my career...I graduated from Nursing School
on 1966 and had a career as a Registered Nurse for 10 years.
After going through a divorce and becoming the sole support
for myself and two young sons I changed careers. It wasn't feasible
to support the three of us on $125 a week even back then. I
moved from being a health caregiver to a financial caregiver.
Although I went back to school and learned the language of money
and the concepts of finance, the art of what I do today is not
so different from when I was a nurse. People's lives are at
stake. You never offer a prescription without a thorough understandin
of the concern or problem. No two people are the same. You have
to read all the labels. Be careful about mixing prescriptions.
Monitor carefully and take nothing for granted. Bed side manners
count.
- How much money do you need to start investing?
Everyone can save and invest something. Don't wait until there
is enough. Enough is a concept. Because of all programs offered
by various mutual fund companies a woman can start with as little
as even $25 a month. What is important is to begin. Nothing
makes someone want to do more than the feeling of being successful
and committing to a plan and following through helps promote
that sense of success.
- How should a woman get started investing with no investment
experience?
The best way to start with no investing experience is to begin
with a simple plan. Seek the advice of a professional if you
feel you need coaching, commit to educating yourself with basic
knowledge so that the language of money becomes "user friendly."
Be willing to ask questions. Take some courses, read, and embrace
the fact that learning about investing and money is a process.
Be willing to make mistakes. This is an ongoing journey.
- If a woman has debt, at what point should she become an investor?
If a woman has debt when can she begin to invest? The issue
is what kind of debt. Surely, owning a mortgage is debt but
should not stop someone from investing. That is very different
from credit card debt. Credit card debt that is revolving can
erode the ability to save and build wealth. Creating a responsible
plan should be discussed with a financial advisor or accountant
to determine what plan of action most supports long term planning
goals.
- Have you published any other books before this one? If so,
what are they?
My plans for the future....I am currently completing my second
book that focuses on the meaning of money in our lives, and
how it serves as a second language in communicating with others.
It permeates each relationship and speaks volumes about us,
how we hande power, use money in love relationnships, parent-child
relationships, friendships and as a ruler for how we experience
ourselves. In conjunction, with the book and my work with Ms
Money I am planning a new series of women and money workshops
beginning in 2000 that will be held both on the East and West
coast.
- What are your future book writing plans?
