THINK GENDER IS DRIVING YOUR DECISIONS?
I’m in the market
fo a car. Ask as many questions as you need to until
you feel comfortable making the decision. Ask for discounts and incentives.
I’m addicted to my
do I start? Set up an IRA, and put as much as you can into it. Don’t touch it.
Fees? What fees?
Get to know your fi nancial planner, and make sure she/he off ers low and transparent fees and a clear explanation of products.
I wo k part-time and don’t have access to a company sponso ed 401(k), so where
credit card! Walk around with cash. That artifi cial limit helps you spend less.
I screwed up and bought a
I’l put money away
every month, I p omise! Nope. Make it automatic so you can get more out of your paycheck before it gets into your hands!
Check out some of these fi nancial scenarios common to men and women and questions you can ask yourself before you make a decision.
Learning
about finance can be a bit
overwhelming. Start simply. Pick out a book that speaks to you, and use it as a guide.
loser stock. Don’t buy individual stocks in the fi rst place. Consider index funds to diversify. Learn from it, but don’t dwell on it. Even Warren Buff ett makes mistakes.
MEN, WOMEN & MONEY When it comes to money, men and women might as well be diff er- ent species. “Women look at the big picture,” Franks says. “Women want to know if a fi nancial decision will help provide for their fam- ily, while men typically are attracted by bragging rights and oſt en want to see short-term payoff s over longer-term planning.” Franks is not wrong, says Steve Lewit, the owner of a Chicago
area wealth management company. His male clients usually over- estimate their abilities when it comes to investing; they overtrade,
14 goodneighbor®
and do so to their detriment. “T e men are much more aggressive and are looking to get the most return on their investments and oſt en underestimate or disregard the level of risk they are tak- ing,” Lewit says, “while their spouses are looking at safety over the long haul.” T e battle of the sexes isn’t limited to just investing. Take Katie
Bryk, a suburban Chicago fi rst grade teacher, who admits to be- ing more of a liberal spender than her husband, Jeff . “I’m a bit of a sucker for running gear,” says Katie, who plans to mark her 40th
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