On Women’s Equality Day, we celebrate the many successes of women. Yet, there’s more to be achieved in the financial world, especially for Indian women. Here’s something to think about: Even though women make up almost half of India’s population, a 2019 Boston Consulting Group study found that only 20% of them make their own investment decisions. Furthermore, on a global scale, women only control 27% of the world’s wealth. So, the question arises: Isn’t it time for more Indian women to step up and take charge of their financial future?
Below are some threads and mantras that can guide women towards designing a prosperous financial tapestry.
Let’s Talk Money
The power of dialogue is transformative. While finance has often been treaded upon with caution, it’s essential to break the silence and dive deep into discussions. As we converse, challenge norms, and engage in meaningful debates, we are not just sharing knowledge—we’re reshaping perspectives. Every conversation pushes us closer to a future where women taking charge of their financial destiny isn’t just a passing trend, but a common practice. The shift begins with us, with every conversation we start, changing the story from being the odd one out to becoming the norm.
The Snowball Effect of Early Investments
Venturing into the world of finance early isn’t just strategic—it’s transformative. Similar to planting a tree, investments in stocks, fixed deposits, or real estate take root and gradually flourish as compounding nurtures their growth, yielding greater returns. Yet, the financial journey has its ups and downs.
Market fluctuations are simply parts of this bigger picture, offering lessons and insights with each variation. Beyond the mere accumulation of wealth, financial freedom symbolises the power of choice and autonomy. In today’s context, it isn’t a luxury—it’s a necessity.
Tech: Your New Best Friend
In the ever-changing maze of today’s financial landscape, technology emerges not merely as a tool, but as a steadfast companion. Beyond its multitude of offerings—from illuminating online courses to savvy robo-advisors—it’s revolutionising the very foundations of finance. This transformation is not just about offering equal opportunities but actively favoring those ready and willing to grasp its vast scope. As the adage goes, “If there is a will, there’s a way.” With the digital revolution heralding a fresh era of financial empowerment, it prompts a timely reflection: Are you geared up to be at the forefront, maximising the immense possibilities technology lays before you?
Guidance, Not Guardrails
Navigating the vast maze of finance needn’t be solitary. While technology offers tools for this journey, there’s unmatched value in human mentorship. Rather than confining guardrails, what truly empowers is informed guidance. Consider it a compass, shaped both by digital advancements and trusted human insights. With this blend, you can sidestep pitfalls and unearth financial insights. The key is steering your own course, using both tech and human wisdom, ensuring your voyage is as unique as your aspirations.
Navigating our way through various investment mantras, real estate emerges as a stable anchor amidst fluctuating assets. The Luxury Outlook Survey 2023 by India Sotheby’s International Realty underscores this, revealing 61% of HNIs and UHNIs plan to invest in property in 2023-24. But this trend isn’t just for the wealthy elite. Today, innovations like REITs, fractional ownership, and INVITS are democratising real estate, making it accessible for all, including women. In this evolving financial landscape, real estate beckons as a promising opportunity for everyone.
In conclusion, managing your money is more than just numbers and planning. It’s about dreams, goals, and independence. On Women’s Equality Day, we shouldn’t just look back at what we’ve achieved but also look forward to a brighter and inclusive future.
Note: Investment landscapes are dotted with both challenges and opportunities. Tread with care, be informed, and if needed, seek guidance from a seasoned financial expert.
-The author is CEO, Aurum WiseX. Views expressed are personal.
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