Stocks, Bonds, Bears and Bulls — Oh My!

Written by Senior Financial Planner Mary Helen Klingen

Funny things can happen when people find out you help others with their finances for a living. Sometimes, they’ll tell you things about their finances they’ve never shared with anyone else. It can happen out of the blue—whether I’m watching TV with a friend or working out at the gym, someone will stop me and pour out their heart about their financial situation. And honestly, these moments of vulnerability are some of my favorites.

However, one theme keeps surfacing, particularly when I talk to women about their finances—something many hesitate to admit, especially in mixed companies. It’s the feeling of inadequacy when investing and the overwhelming question of where to start. With the shift from company-sponsored pensions to 401(k)s, which leaves the burden of retirement savings squarely on employees, many women feel left behind and uncertain about their financial futures.

I’ve met so many incredible women from all walks of life—doctors, lawyers, small business owners, executives, engineers—you name it. These women are forces to be reckoned with in their careers, yet they hesitate to invest in their financial futures. It’s a paradox—so confident in one area of life but filled with self-doubt in another.

But trust me, they’re not alone. I have felt this tension, too.

I started my career in the accounting profession primarily because I like numbers. People automatically assumed I was good with money because of my job title. But, although I was a certified public accountant, I knew nothing about high-yield savings accounts. It was a hard pill to swallow, especially when the men around me seemed to have this innate knowledge of the stock market or high-yield savings accounts. I couldn’t help but wonder—was there some secret class I missed in school? Was everyone learning life’s mysteries on Reddit, and I didn’t get the memo? Had I missed the boat? I felt ashamed that I didn’t have it all figured out.

After some time in the accounting profession, the Lord made it clear that I was to transition into financial planning. And once I made that leap, I vowed to get my arms around this concept of investing. After five years in the field, I’ve learned that investing doesn’t have to be as complicated or intimidating as it seems. It’s much less flashy and complex than The Wolf of Wall Street or The Big Short make it look. You don’t need to know what a derivative or call option is to make wise decisions for your future. In fact, the steady, consistent investments you make in your retirement plan at work are likely putting you in a better position than all the flashy, risky strategies you hear about around the office…but I’ll save my lecture on getting rich slowly and diversifying investments for later.

To all the women out there feeling frustrated, overwhelmed, or ashamed when it comes to investing—you’re not alone. Your feelings are valid. Don’t lose heart. I am here to say there is a way forward. I wholeheartedly believe you can do this investing thing.

You are more than capable of taking charge of your financial future. The first step? Check out Blue Trust’s “Investing Fundamentals for Women” webinar series. It’s time to replace frustration with confidence—because you’ve got this.

For more information or to connect with an advisor, please contact us at 800.987.2987 or blog@bluetrust.com.

 

This blog was first published on polishednetwork.org. Polished is an organization that emboldens women in their faith and work.