Winners Invest Like Girls!
Most girls have a default setting that gives them a significant performance advantage over the boys. Hey! We are talking about investing results here! This stuff matters – 4 ways girls invest better or winners invest like girls!
Guys, if you want to make money reliably, regularly and dependably consider a different way of thinking. When it comes to investing, think like many successful women do.
Girls invest better – learn to hold winning investing hands:
- Get Help
- Get Training
- Assess Risk
- Set Goals
1. Get Help
Being curious and asking questions are parts of what make me tick. As a result I readily approach new topics and seek to understand them. That means asking directions or seeking help has never been an issue with me. However, I know that many men deserved their reputation for aimless driving and refusing to ask for direction.
GPS apps on smart phones have changed all that. But the inclination remains. Women fare more readily ask for help.
At times we guys let our egos get in the way of success. Especially, when it comes to successful investing. All too many times a guy thinks, or wants to think, that he knows. That expensive indulgence can severely and negatively impact investing performance. It can spawn bad decisions. So we just have to get over it and get help when we need it.
2. Get Training
Second, get some education or training – learn – so you make informed, knowledgeable decisions. The Internet gives us access to unlimited knowledge. Use it. This blog and many other sources are available. Numerous books are available. Legions of advisors and many courses offer information, knowledge and insight. Learn and grow.
Generally, women readily seek knowledge or training. They will pull information and opinion from several sources attempting to fill in the gaps. They learn before trying to do.
Guys are much more likely to just dive in. Too often we bump our heads as a result. That’s as foolish and costly as bumping your head by diving into shallow water simply because you did not check the depth. Learn first, then do.
My advice, get information from several sources. Gurus with the one right answer, or secret technique, are simply selling snake oil. Don’t buy. There are no magic charts or programs. There are many sources of huge amounts of useful information.
Draw knowledge from multiple sources but always do your own thinking. Then when you think you have an idea or understanding, run it by someone who does know. Discussing it can help you build an understanding. Think about their responses and points raised. Rethink, learn, grow.
3. Assess Risk
Risk assessment is a third way the behavior of women differs significantly from that of men. Most women take a more cautious approach to investing. As a result they more consistently deliver the goods. Or more correctly, routinely produce the best result and more wealth. Take advantage of this approach. Intelligent caution works. Know the risk presented by an investment, before you buy.
Male acceptance of risk, leads to wonderful and exciting discoveries. It helps uncover new ways for humanity to progress. Of course, it also leads to some insane and stupid behavior and a higher body count, but those are different stories.
Either way, at times, costs are high. Here, we are not concerned about pushing back the frontier of knowledge or making a new discovery by taking risks. Here, we are all about making money from investing. Good risk assessment pays off big time when you are investing. That, and cost control are two essential keys to consistent investing success.
You do not have to reinvent this wheel. Especially as a beginner, accept that established ways work, and are very well-known. Follow the established paths, especially when you are beginning.
Ignorance and poor risk assessment are major vulnerabilities that expose people to scams. Define issues and investigate until you know what the risks are. Never invest before investigating.
4. Set Goals
Finally, goal set like a girl! More often, woman set goals, while men most often see investing as one more short-term competition. Women see investing as a path to achieving life goals. Men are often wing it, and fly by the seat of their pants in a short-term quest for a big payoff.
Conclusion, we must do the homework, build the knowledge, think and enjoy the journey of growing to become a successful investor.
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These discussions and information intend to help you better understand markets and investing. I am not a financial or investment advisor; opinions are for informational and educational purposes only and are not intended as investment advice. For syndication of the site or blog, please contact info@WhiteTopInvestor.com.
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