Investing for the Future
Women have invested for their futures by investing in a savings account or bank CD but is that all that we have to do in order to survive in the future? Studies show that women are more interested in investing than men; however, when it comes to making the actual investment the checkbook is not open. Do we trust in our jobs and careers more than we should? If women are the backbone of our communities, why don’t we look deeper into learning how to invest our money? Why are we so afraid of letting our money work for us? We always find the need to buy a $100 stilettos or a $400 hand bag so why not take that money and invest in a better tomorrow for us and our children? Why are we so afraid to take a small step and open up an IRA roth account for just $20 a pay period that will mature in 20 years and help us with our retirement? (Johnson Publishing Company & Gale Group, 2000), A 20 year old that invests $20 a week into an IRA can earn up to $1 million at retirement (Johnson Publishing Company & Gale Group, 2000). If you wait til you are 30 years old, you would have to invest $55 a week in order to reap the $1 million dollar retirement goal (Johnson Publishing Company & Gale Group, 2000). Or should I ask the question in this form……..Do we simply not invest because we are ignorant in that area? Let’s examine ourselves for just a moment and analyze what we need to change. First, do we really need the $100 shoes that we just ordered online? Will those shoes pay us back in return later on in the future? Will that $400 purse actually pay itself off and stand as a prime investment six months down the line? Can we stop eating out so much at work for lunch and breakfast and take that money to invest in our futures and remain healthier at the same time? These are questions we should ask. There is nothing wrong with treating yourself to a great meal or a nice dress from time to time; however, we have become a society of impressiveness that holds no longevity in our lives. Why impress others that could care less of the $200 Gucci dress we had on last week at the club? I always wondered why I would see wealthy Caucasians with raggedy jeans on and a simple t shirt out at gatherings. Well they take their extra money and plan vacations in advance, pay mortgages, and invest in their homes more than Blacks. My culture is quick to buy things that only a legacy of wealth can and always will enjoy. Ralph Lauren will always send his kids and grandkids to an IVY league school because we have paid for it. Whereas, Rayshawn may only go to community college because we failed to find it necessary to see his potential and invest in his future. My point being, we don’t make the proper arrangements to make a better future for us nor our communities. Take some time to learn the stock market and how money is measured in units. Let your money work for you and don’t be afraid of saying “I can wait until next time to get that dress”. By all means don’t neglect yourself, but play a little smarter and more professional. You reap what you harvest so why harvest bad eggs? My son will be leaving for college June, 2012 for the summer session and I am prepared to get him his first set of luggage, laptop, and plenty of washing powder to help him have a successful educational experience. I don’t think taking him shopping for clothes is essential. He needs the main key items in order for him to understand that he needs to stay focused. We need to wise up and wake up the fact that the rich are getting richer and the poor are getting poorer because of ignorance. The tools are there. Women tend to live longer than men and reap the benefits of their rewards than men, but women get paid less than men in their careers for the most part (Johnson Publishing Company & Gale Group, 2000). Most companies offer retirement plans for employees to use as a building block for investments. Some companies may offer stock options as a source of retirement (Johnson Publishing Company & Gale Group, 2000). Having a great diversified investment portfolio is key to having a great retirement plan. Invest in fortune 500 companies and take a risk with high tech companies whose stock value is based on future projections (Johnson Publishing Company & Gale Group, 2000). More Blacks are investing more with high tech companies such as Microsoft, Lucent Technologies and AOL (Johnson Publishing Company & Gale Group, 2000). Also consider a mutual fund which can reduce risk by having many different investments. Mutual funds can fluctuate. For instance, I am currently looking into the new legislation that passed for the Home Builders Association to build new homes that have hybrid water heaters and sprinkler systems. The companies that make these items will eventually have stocks to soar through the ceiling if the mortgage companies can raise the debt ceiling and get people to buy homes again. Its seems farfetched, however, it could happen in a few years and your investment could soar. Charles Schwab is always available to explain how important an investment would be for you. I’ve learned that putting money into TransAmerica was a wise investment because I watch every speech President Obama has given and he promised millions in repairing the highways, etc. for transportation. Start reading up on new laws and legislations that will affect your area or help to pay off in the end. Don’t get stuck with the “I didn’t know” factor later on in your life when it’s too late. No matter what your ethnicity is please find a financial planner and educate yourself. Your financial planner can seek the best investment for you by looking at your age, income, goals, assets, and liabilities with monthly expenses (Johnson Publishing Company & Gale Group, 2000). As women, we need to be more assertive when it comes to business so we can look better with our financial planning portfolio’s instead of being best dressed at the club. No one will remember how impressive you were last Saturday night at the bar, but they will remember that you left a legacy to your family in order for them to survive. When we build investments together, we will see our communities grow. Think about it and make that call today. As always love yourself and you’ll find love all around you-Val Watts.
