Kind of off topic but have to ask about what it up with women and investing?
My wife and I, now in our 40’s, have always saved and invested heavily since we graduated college and have built up a nice nest egg so far. I always managed the money. She cares less about getting involved, but likes what we have built up. She is a successful professional and makes her own money. Couple years ago in the fall of 2017 my wife thought we had too much money to manage and now need help with it. “Folks with money get advisors”, she said and still believes it. I was against it but I didn’t want to rock the boat since she makes money and had her own accounts. She rolled her IRA’s over to him. I stayed put with mine.
The advisor did the standard - he will invest for you, his call, in mutual funds only with a 1% annual fee of all the assets, taken out .25% per quarter paid to him. I kept an eye on her investments made by him and he was always a little below each quarter - meh. I looked again at the half year mark and he did 4% points less return than the SP500 for 2018 and and is down 3.5% so far this year against the S and P. Also we are in our 40’s and told the advisor he can go all in with stocks and be aggressive, so this isn’t a too much bond thing. He is behind in down markets and up markets.
Me? I am slightly beating the market over the last couple years by 2-3%. I showed my wife the lower return numbers she is getting with her accounts with the advisor against the SP and myself. I showed her how many thousands of dollars she is down also. Her response? She still wants to stick with this advisor and give him more time. She may give him more money also. WTF!! I don’t get it? I mean, put her money in an SaP 500 index fund and forget about it at least. Nope
Also in my family my Dad and step Mom split their money in half years ago for estate planning since both have kids. My Dad always buys stock and my step Mom tried to invest but pulled out her money after it went down 2% in one quarter. My Dad has a lot more money now and has given my step mom money twice to even things up more they divided money. My Dad tried to have her put a little back in the market but has just given up and let it go now.
My Mom is single, works and has an ok job, saves money like a mad women, invests (good!), but won’t spend a dime in anything. She has the money but just can’t pull the trigger to spend even if she needs something like a new car or house repair.
These are my just my experiences with women I know love and care for. They are smart, hard working women also. So what is the deal? Women are too Conservative, have money but not spending, stick with an expert who gets lower returns being afraid onmake a change? It’s weird. What is going on?? Is it like this everywhere?