Here are 10 actions steps you can take now to assume financial control.
The journey of women in the world of investment mirrors the process of building a new house from the ground up. Just as the construction process involves a series of phases, the paths of women also present achievements and challenges. Although women are expected to control $30 trillion in investable assets within the next five years and a 2021 Fidelity Investments study shows they outperformed their male counterparts by 0.4%, a confidence gap remains.
Although 67% of women feel confident managing daily financial tasks, only a fraction feel confident about investing. This disparity between women’s financial management skills and their investment confidence underscores the need for greater financial education and empowerment.
Knowledge + Community = Confident Action
The new blueprint is Knowledge + Community = Confident Action. In community, women gain knowledge to grow their portfolios, the skills to build a sustainable business, and the support from others to build generational wealth. Knowledge is nothing without community.
The power of networking will become increasingly important as women continue to seek out communities where they can share knowledge, opportunities, and support. From online webinars and in-person conferences to investment clubs, these networks will play a crucial role in fostering women’s growth in the finance sector.
According to InvestHER co-founder Liz Faircloth, “Every woman has the birthright to become financially free. The InvestHER Community is a safe place for women worldwide to gather and leverage each other’s experiences and resources.”
10 Action Steps
As you embrace this new blueprint that highlights Knowledge + Community = Confident Action, keep these 10 action steps in mind. You can implement them right away to take control of your finances.
- Conduct a time audit. Keep a detailed time diary for one week to track how you spend your 168 hours. Identify time drains and inefficiencies in your routine; then reallocate time for high-impact activities like real estate investing, networking, and learning.
- Identify your strengths. Use tools like Predictive Index, StrengthsFinder, and Kolbe to conduct a comprehensive personal inventory audit. Identify your unique strengths and weaknesses to allocate your time effectively and build a high-performing team around you as a real estate investHER.
- Choose your investment style. Determine whether you prefer a hands-on approach with active investing or a more hands-off, passive approach with syndications or private lending. The key is to align your investment approach with your goals, risk tolerance, and time commitment.
- Master your finances. Gain clarity on your financial situation by conducting a thorough assessment of your personal income, expenses, and current investments. Evaluate what’s working and what’s not to craft a budget aligned with your values and priorities. This will help you focus on conscious spending and strategic investment decisions.
- Network strategically. Attend InvestHER meetups and connect with fellow real estate investHERS throughout the United States and Canada. Build relationships in a safe space with like-minded individuals to gain insights, share experiences, and access valuable resources and support to thrive in your investing endeavors.
- Streamline your investments. Explore automation tools and services to simplify your real estate investments. Take advantage of resources from InvestHER sponsors such as free property management tools, online banking, and off-market deal flow solutions to optimize your investment process.
- Implement value-add strategies. Go beyond traditional renovation projects and consider repositioning properties from a property management perspective. Optimize rent collection processes, reduce vacancies through strategic marketing efforts, and enhance operational efficiency to maximize returns.
- Leverage tax-efficient strategies. Optimize your investment portfolio for tax efficiency by considering strategies like tax-loss harvesting, contributing to tax-advantaged retirement accounts, and strategically timing capital gains realization.
- Embrace creative financing options. Explore alternative financing methods such as seller financing, lease options, or subject-to transactions to acquire properties with minimal upfront capital. These techniques offer flexibility and leverage in real estate transactions while mitigating risks.
- Invest in yourself. Join us at InvestHER CON June 2-4 in Austin, Texas, to be all in on your journey to financial freedom. With keynote speakers like Kim Kiyosaki, Sallie Krawchuk, Kathy Fettke, and Terri Cole, this event promises to empower and inspire women in real estate investing. Immerse yourself in two full days of transformational experiences, networking with powerful like-minded women, and gaining invaluable insights from industry experts. Don’t hesitate—secure your ticket now and take the first step toward shaping your financial destiny.
Envision Your Future
Let’s envision our financial journey as the construction of a skyscraper, with each brick a testament to our tenacity and ambition. Despite the confidence gap, we hold the blueprint for change: Knowledge + Community = Confident Action. It’s a battle cry for empowerment, igniting the fire within us to defy expectations and carve our path to financial freedom.
As we march forward, let’s dare to dream recklessly and invest fearlessly. Let’s unite in the InvestHER movement, where empowerment knows no bounds. Together, we’ll harness the collective strength of our community to propel us toward our financial goals. We would love to see you in Austin on June 2-4!
