According to research, more men invest in equities than women and since equities outperform all other asset classes over the long term, by not investing in these assets, women are at a disadvantage.
This international Women’s Day at Rise, we are thinking about how to close the gender gap when it comes to investment. If women are less likely than men to invest, then they are also less likely to build wealth. To encourage more women to invest, we want to spotlight female Rise investors who prove that investment can be done well and that it does not have to be difficult or complicated.
We’ve asked 6 of our female users aged 22–42 about why they invest and why they think fewer women invest. One of our key takeaways is that women are not afraid of investing. Instead, we believe that financial service providers need to do more to build trust and communicate in plain language.
Funmi Fasasi, Channel Lead for East Africa, Cisco
“Investing is the surest way to get richer.”
Money philosophy: You have to put money to work to get more out of your money.
How to make more women interested in investing: Remove the jargon; investment does not have to be complicated. Educate your users about your products because there’s an information gap.
Why I invest: I have very audacious financial goals and investing is the surest way to get richer. In investing, you can get so much more with so little
How Rise helps me invest: Rise takes the complexity away from investing and gives me access to foreign investments.
Advice for women who find investing daunting: Start with what you have and can lose. Start now.
Souvenir Okey, Investing management analyst
“Money is a tool”
Money philosophy: Money is a means to an ever-changing end. The end depends on certain factors like your age, status, and circumstance.
How to make more women interested in investing: Investment companies should create awareness of what’s available — people simply aren’t aware. They also need to show credibility. Women are great at recommending products so build a product that drives word-of-mouth. Lastly, educate your customers about your product. Basically, awareness, trust, education.
Why I invest: Two years ago, I didn’t know about investing but something happened that forced me to look at my finances and investing was the way out. I invest because I want to grow my money and I don’t want to work forever. I want the freedom to do whatever I want.
How Rise helps me invest: Rise helps me preserve and grow my money. I don’t have to worry about the market because Rise is the expert and they make the right decisions for me.
Advice for women who find investing daunting: Be ready to take risks. Do it for yourself and your kids. Wealth creation is a process, it doesn’t happen overnight.
Abisola Adeyemi, Banker
“I want to secure my future”
Money philosophy: You can only start to save or invest when you earn more so try to earn more.
How to make more women interested in investing: Introduce custom-features for women and women-only initiatives. Write easy-to-understand articles about investing because there’s an information gap.
Why I invest: I want to secure my future. I want to be independent and I want to be able to retire early.
How Rise helps me invest: Rise is great because you don’t have to choose which stocks to buy. You can rely on Rise’s expertise. Just fund a plan and relax.
Advice for women who find investing daunting: Research, don’t go in blind. Understand yourself and how much risk you are willing to take.
Jane Okoloigwe, Channel Marketing Manager, Kohler
“Cash is a lazy asset”
Money philosophy: Make your money work for you. People say cash is king but I see cash as a lazy asset, you need to put it to work.
How to make more women interested in investing: There should be money and investment education. Knowledge is power. Companies should also sell the value of investing.
Why I invest: I invest for capital appreciation and financial security. There’s so much uncertainty in life, I want my kids to have good things in life.
How Rise helps me invest: Rise gives me the opportunity to invest in foreign assets.
Advice for women who find investing daunting: Understand the various investment options available and your risk appetite.
Chibundo Akupue, Law student
“In investing, time can beat money”
Money philosophy: Money is important but we should be patient in making it. Level up in everything else and money will come.
How to make more women interested in investing: Lower the barrier to entry and create awareness of your product.
Why I invest: I read about compound interest and how starting with little early can put you in the same place as someone who starts late but with a lot. I invest because I want to take advantage of compound interest.
How Rise helps me invest: Rise makes investing easier. I don’t have to research a lot, I can trust Rise to do the due diligence. It also makes investing accessible.
Advice for women who find investing daunting: Invest because money gives you options
Valerie Kevin, Planning Engineer
“When you invest, it’s for you. It’s in your name”
Money philosophy: Use money to make more money for yourself, money should be constantly multiplied.
How to make more women interested in investing: Introduce goal-based savings. Relate investing to things women are interested in.
Why I invest: I invest to multiply my money. If you don’t invest, something will come up that will spend that money for you.
How Rise helps me invest: I can invest in naira and my returns are in dollars.
Advice for women who find investing daunting: When you invest, it’s for you. it’s in your name. This is the time to take calculated risks so you can relax when you are 60.
*answers have been edited and condensed for clarity.
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