Men and women are different - even though you probably already knew that, we've got a lot of science to back it up. Here is Part 2 of our series on gender differences and money.

Men and Investing

According to research, 74% of men think investing is FUN! The section of the male brain that "lights up" when discussing investing and risk is the same section that is active when viewing pictures of a beautiful woman. Men, compared to women, are much more willing to take risk when investing.

Men describe themselves as good investors, though not necessarily with good reason as they chase tips, hold losing investments for too long a time and repeat their mistakes instead of learning from them. The most common emotions men experience while investing, by their own admission, are greed, impatience, and overconfidence.

If men use financial advisors, male investors report a higher level of satisfaction and success. However these men also say that when investments go up it was their own decisions, and if investments do poorly it was because of their advisors'. Advisors report that about 2/3 of men are not adequately planning for "their spouses' future well-being after their deaths."

What can we do? Talk to each other. Gently, but firmly, push each other to do what needs to be done and to understand finances.


Next week: Men buy, women shop.

Marion R. Syversen, MBA - President
NorumbegaFinancial
207.862.2952
Marion@NorumbegaFinancial.com
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