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- What led you to write this book?
I believe that women are strong and capable people, and I was
concerned and
dismayed that so much of the financial information being
targeted to women
nowdays was playing up women's fear of ending up poor and
alone. Instead of
encouraging women to take charge of their financial lives
because it was fun
and they could do it, financial institutions and some
financial writers were
scaring women into investing. And starting off as a scared
investor does not
bode well for one's financial future.
So in the books that I write for women and their money, I try
to reassure
women that they can easily take care of their financial
futures, and that
they should not doubt their abilities for one minute. Isn't
it better to be
motivated by confidence than by fear?
- What do you feel to be the biggest challenge facing women
today when handling their finances?
Deep down all women do believe that someone else will take
care of them, no
matter how often that proves not to be the case. Returning
again to my
theme of confidence, I believe that we need to be confident
enough to know
that we can do it on our own, regardless of whether we are married,
divorced, single, or widowed.
Women are also held back sometimes by one of our own best
traits -- we love
to take care of the people in our lives and be genorous
towards them. So
when we have a financial windfall we are sometimes inclined
to run out and
buy gifts for loved ones instead of socking the money away in some
investment vehicle. I'm not suggesting that we try to
eliminate that loving
trait entirely, but that we are aware of it and make sure
that we don't
treat others at the expense of our financial future.
- How has the atmosphere changed for women investors in the
last 10 years?
Every nook and cranny of the investment world is now well
aware of the fact
that their longterm health is tied up in their ability to
attract women
customers. From banks to brokers, insurance companies to bond
salespeople,
they need women's business. And that was not at all true ten
years ago!
Women have gotten the cold shoulder from the financial world
for centuries,
but we have really come into our own! There is no reason to
do business with
anyone who condescends to you, just walk out the door and
find someone else
who is panting for your business!
- How will the atmosphere change for women investors in the
next 10 years?
See the answer for question #3.
- Where did you start your career and how did it lead you to
where you are today?
The very first book I wrote (and self-published!) was a
business directory
of woman owned businesses in Sacramento, California. That
lead me into the
world of publishing, and I worked as an editor there for many
years. I
always continued to write though, and soon specialized in
writing small
business books for women. In a way, it was all about
encouraging women to
develop financial independence -- 101 Best Extra Income
Opportunities for
Women was all about starting small side businesses. I love
talking to folks
about business, and writing about the creative and unique
ways to make a
buck. As my own interest and comfort level in investing rose,
so too did my
interest in once again encouraging women, but this time to
get out there and
invest the money they were earning!
- How much money do you need to start investing?
"Start where you are" is the famous piece of advice. Don't
sweat and fret
that you don't have enough... just start with what you have.
There are
mutual funds that can be purchased for as little as fifty
dollars a month,
and there are many DRIPs (direct re-investment programs) that
can be set up
to purchase just one share of stock a month directly from the
company. Some
of these shares like the Coca-Cola company are in the fifty
dollar range.
An alternative is to start up a special savings account at
the bank and
contribute to it every month in order to build up a larger
sum of money for
a year to take to a broker or set up with one of the on-line
brokers. The
key is in your commitment to making this a monthly investment
plan -- decide
now to put aside 75 dollars a month, and you will have almost
one thousand
dollars to start with in one year. Do this every month, even
once you begin
to invest, and you will have established a great financial
habit. Don't
forget to increase the amount you set aside as your income rises!
- How should a woman get started investing with no investment
experience?
Well, I am the co-author of a pretty basic book that will
help any woman
gain the basic knowledge she will need -- The Complete
Idiot's Guide to
Investing for Women. Don't let the rude title hold you back, it isn't
condescending and it won't make you feel stupid, it will help
you quickly
grasp the basics and get started with simple investing. Good luck!
- If a woman has debt, at what point should she become an investor?
She should become an investor right away, but she should also begin
immediately to pay down her debt and commit to not getting
into debt again.
- Have you published any other books before this one? If so,
what are they?
The Complete Idiot's Guide to Investing for Women
- The Pocket Idiot's Guide to Living on a Budget
- The Complete Idiot's Guide to Day Trading Like a Pro
- The Millionairess Across the Street: 23 Lessons to Change
Your Thinking
about Achieving Wealth and Success
- What are your future book writing plans?
My co-author on the Millionairess book, Bettina Flores, and I
are hard at
work on Goals and Jewels: Women's Wealth-building Wisdom.
Please feel free
to visit our website at http://www.goalsandjewels.com to see
the direction
we are heading!
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