I would love to tell you how perseverance, a tenacious desire to learn, and a hard endeavor have driven me to this point, that is, to investing, saving, and talking about money. It would be nice to say that I found out and acted on my own.
But admittedly, the truth is different for me.
I have two big brothers, both of whom got excited about investing in stocks pretty early on. They explained my eyes to the shining interest rate phenomenon and vowed to read Robert Kiyosaki’s Rich Father Poor Father. They thought it was clear that I would start investing, and preferably as early as possible.
Yes, I was interested in investing, and money was not an obstacle either: I had earned a trade while working at the checkout and still living at home, and I knew I could start saving monthly funds for as little as ten euros a month. Nevertheless, I doubted that I could.
When I turned eighteen, one of my brothers showed almost by hand how to create IDs and how to make stock purchases. I went straight to the deep end when I bought Apple, for example, even though I knew absolutely nothing about its business or results. To be honest, I didn’t know much else (starting with what a dividend is or what a stock market is).
So the money changed hands, my savings account gaped and I owned shares. Strong encouragement and support had paid off, a positive habit had emerged.
Women are more skeptical about ranking their skills than men
According to Danske Bank’s Financial Peace Survey conducted in the spring, the most common reason for not investing – for both women and men – is a lack of money. The second most common reason is that one’s investment skills are questionable. As many as 28 percent of women doubt their skills, only 19 percent of men.
The research result is not surprising; after all, I’ve been the Mimmi who almost failed to invest because I didn’t think I was skilled enough to become an investor.
I understand why many may be annoyed specifically when talking about investing in women. One may wonder why women would need special support or targeted investment speech, even though the abilities and opportunities are the same as for men.
There is indeed absolutely nothing wrong with women’s abilities or opportunities. However, the fact that women are more skeptical of their investment skills than men is the root reason why I think talking about investing in women is paramount. I hope no one fails to invest because belief in one’s abilities is running out.
What about me? Would I have ever started investing if my brothers ’enthusiasm for the stock market hadn’t been so overflowing and if they hadn’t seen me as a peer and a potential investor?
Maybe, but hardly without a strong example. And that’s why I rejoice whenever I see, hear, or read about women who are creative in a world I was afraid of when I was younger.