As part of Curi Capital’s 2021 webinar series, Donna Schumell, Cultivating Distinction Officer of The Disruptive Element, with Curi Capital’s Frances Cronlund, Senior Director of Wealth Planning, presented a webinar addressing the myths and risks unique to women when navigating their finances.
During the webinar, “The Myths and Risks for Women and Money,” Schumell and Cronlund explored challenges and opportunities that women face when managing their money and the finances of their families—and the questions they can be asking to remain on track with their financial goals.
Brain Science Lens—Why Do We Do What We Do?
Schumell outlined the fundamental differences between women and men in their approach to wealth from a brain science perspective. The way that women take risks creates a distinct set of financial experiences.
According to Shumell, less than 5% of women take significant risk in their portfolios and tend the stay the course by trading stocks and changing asset allocations less frequently than men. Even the way women select financial advisors differs from men, as they often utilize personal connections and references to find the right fit for them.
Our beliefs drive our behavior, and Schumell pointed out the power that our beliefs have over our daily actions. Women are equally capable as men when it comes to setting themselves up for financial success and should choose to let their beliefs empower their choices as opposed to limiting them—especially when it comes to their finances.
Money Risk Check-Up
Schumell and Cronlund also encouraged self-reflection through a “money risk check-up” that allowed attendees to assess where they stood in certain areas of their finances. Some highlighted areas included insurance plans, lifestyle expenses, and financial reports.
They also asked prompting questions like, “How prepared would you be to mitigate a risky financial situation?”
The webinar encouraged attendees to recognize their strongest areas for improvement in their financial plan, and what next steps they need to take to address the gaps or issues.
For more in-depth learning about this topic, please scroll below to view a recording of the webinar in its entirety or contact Curi Capital at 984-202-2800 to speak to one of our wealth management and planning experts today.
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