Why women invest differently from men in real estate
“It’s a missed opportunity because they could invest in something through their financial advisor. They don’t have to put it in real estate; they could put it in something else, ”Rogers said. “Right now he’s just sitting there, and we call it ‘dead money.’ But, many women are afraid to tap into this and provide money for their children or grandchildren before they die, so women need to be educated not to be afraid to explore options, such as loans. reverse mortgages.
“You have to sit down and dive into your financial situation, understand what the person’s long-term budget requirements are, so that they can make sure they are looked after, and then find a way to convey some of that generational wealth, so people can start taking action sooner rather than having to wait a lifetime.
Benesocky noted that financial advisers can also help their clients explore some of the alternative financial investment opportunities. “This could open a new door to new investment vehicles that they might not have known in the past,” she said.
“It’s something that women just don’t have experience in it for. They don’t trust him. They don’t have the knowledge, ”Rogers said. “Women don’t know what they don’t know. We don’t teach that to people at school. We don’t teach people to invest properly. So this is something that financial advisers really need to help their clients by making a plan. What is your roadmap? What is your heritage? “
She cited conventional global data that says when you invest $ 1 in a man, he keeps 80-90%, but when you invest in a woman, up to 60% goes back to the community. “He’s going back to his family. He returns to his local stores. It comes down to something that really adds to the community, ”Rogers said. “So when we present them with investment options, we have to keep that in mind because they’re not necessarily going to be just looking at the bottom line. They are going to look at the most important impact.