We had the privilege of hearing from a Chartered Financial Analyst, Linda Eedes who has a passion for empowering women in their financial journey. In this Q&A, Linda shares some empowering insights with us and we’d love to share them with you.
1. Why is it so important for women to know their finances?
Although many women are very familiar with managing household budgets, I often hear that they feel intimidated and overwhelmed by the world of finance. So, they put finances and investing on the “too difficult” pile or they leave financial planning and investment decision-making to the men in their lives. But true wealth is not about having and spending money, it’s about long-term security and freedom of choice. And until women are empowered to take control of their own financial destinies, there will never be a level playing field. It’s also important to remember that statistically, we are likely to outlive our male partners – so we need to make sure we’ve adequately provided for our longer retirement and higher future healthcare costs.
2. Where did your passion for empowering women in their finances come from?
My dad is a financial adviser, so I was very lucky to be educated about the basics of finance from a very young age. He taught me simple truths such as the power of investing regularly to achieve long term goals, what to consider when using credit and how to think holistically about my financial future. I realised quite early on that many of my female friends were not given this same foundation with regards to managing money, so I feel a responsibility to demystify this space for as many women as possible – particularly younger women who cross my path professionally and personally.
3. What have been some of the main blockages/ hindrances you've seen for women in money management?
Many women feel that investing doesn’t “come naturally to them”. The truth of the matter is that research consistently shows that women actually generally tend to make far better long term investors than men! This is because we tend to be more patient, we are less likely to act impulsively, less likely to take big risks which don’t pay off and therefore, we tend to make less investment mistakes over time. The major gap between men and women when it comes to investing is not in our abilities – it is in our confidence.
4. What are some of the ‘money moves’ you recommend for working women?
The best tool you have to build your wealth is TIME. Time allows even small amounts you invest now to grow into meaningful amounts over time. Investing regularly, and staying invested (over 5 years or more), is the ultimate secret to creating long term wealth. Also, never have more than 10% of your portfolio in any one fund or investment. Put your eggs in different baskets as no one has a crystal ball – not even the smartest people who talk about what’s going to happen in the future for a living!
5. What have been your top learning curves when it comes to money management, as a woman?
The most important lesson I have learned over time is the importance of not panicking when markets are down, and resisting the temptation to pull your money out at the worst possible time. Markets go up and down in the short term but move in an upwards pattern over the long term, so the best thing you can do is find an investment manager you trust, invest in one of their funds, and simply leave it there to grow for as long as you can. Successful investing is something that anyone can do - no matter your background, upbringing, education or even intelligence. It is far more about Psychology than Maths or Science. So be calm and carry on investing!
6. What are some key money habits for financially wise women?
Financial planning is absolutely critical to our holistic wellbeing over time. We cannot live happy, fulfilled lives without managing our money well for the present and the future. If you are completely overwhelmed by the world of finance – I would highly recommend finding a female independent investment adviser – who is likely to understand your issues, who you can relate to and talk honestly and openly with, who can consider your holistic financial situation and give you good financial advice. I have met so many inspiring women financial advisers over my 20+ years in the investment industry – and I would highly recommend seeking them out to walk this path alongside you. As I say to my three young children “If you ever get lost, ask a mommy to help you!”
Written by Linda Eedes and the RecruitMyMom editorial team.
Linda Eedes has spent more than 20 years in the investment industry with roles in research, portfolio management, product development, business development, strategy and leadership. Most recently, she was part of the executive team that successfully led the merging and consolidation of RECM, Counterpoint Asset Management and Bridge Fund Managers in 2020. She has a B Com (Economics) degree, a B Com Honours (Finance) degree and is a Chartered Financial Analyst.
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