posted on April 3rd 2017 in Austin CFP Team Posts with 0 Comments /

This is an excerpt from Chapter 3 of Certified Financial Planner™ Scott O’Brien’s brand new e-book Surviving to Thriving: A Financial Resource for Divorcées and Widows. This e-book brings you in depth information from 7 experts across industries to help women manage the financial and personal elements of life’s major transitions. Download your complimentary copy today.

The Kiplinger’s Financial Advice & Investing Survey revealed that 83.8% of single wealthy women and 80.2% of widows relied on newspapers, magazines, and websites as their primary tools for learning about finances. Financial television news networks and financial advisors came in second and third.

According to the University of California-Berkeley study, “Boys will be boys; gender, overconfidence and common stock investment” by Brad Barber and Terrance Odean, published in 2001, women outperformed their male counterparts by 2.3% over a seven-year period.

One of the reasons for that outperformance was attributed to the observation that women tended to take a more patient approach. A second study from Berkeley shows that the more an investor traded, the lower his or her returns.

Despite this evidence, investors are buying and selling at a more rapid pace now than ever before. In 2015, mutual fund company MFS found the average stock was held for only 8 months — compared to an average of 8 years in 1960.

The Berkeley study found that women tend to trade 30% less than men. But the temptation to trade is clear: information is instant and abundant, trading commissions are low, and the action can be exciting.

However, Odean states that, “Trading is hazardous to your wealth.”

Surviving to Thriving: A Financial Resource for Divorcées and Widows brings you practical advice from 7 experts across specialities to help women manage the financial and personal elements of life’s major transitions. Get your complimentary copy today.

about the author: Scott W. O'Brien CFP®, EA

scottScott W. O’Brien CFP® is a CERTIFIED FINANCIAL PLANNER professional who serves clients by coordinating their financial lives and assisting them in making smart financial decisions within the areas of investments, retirement planning, insurance strategies, tax minimization, and estate planning.

Scott was honored as the winner of the 2015 Five Star Professional Wealth Manager for Austin, San Antonio and the Central Texas region. He has been quoted in the Wall Street Journal, US News & World Report, and Investopedia.

Learn more and/or Contact Scott

Continue Reading

Other articles filed under Austin CFP Team Posts

How Do We Compare to Austin’s Best Financial Planning Firms?

February 28, 2019 - Every year, the Austin Business Journal publishes its annual Book of Lists. This downloadable document or print book — both available for purchase — lists the “hottest area companies in their field” based on ranking criteria specified by field. In...
Continue Reading

2018 Year-End Investment Market Report

January 30, 2019 - This was the year the long, seemingly endless bull market came to a crashing halt — and U.S. investors finally, for the first time since 2008, experienced the normal definition of a bear market (down 20% from the S&P 500's...
Continue Reading

Picking Funds Based on Performance: A Fool’s Game

January 23, 2019 - You’ve probably heard from the do-it-yourselfer at your office. “I just invest in the funds with the best performance.” But is this a reasonable? Though a book could be written citing numerous academic studies to address the validity of this...
Continue Reading

What Attracted our Advisors to WorthPointe?

January 22, 2019 - Each of our advisors was drawn to something slightly different at WorthPointe. We take great satisfaction in giving our partners the career they dream of. Here are a few of their stories. Meet Morgan Advisor by day and surfer by...
Continue Reading

Here for You, Anywhere You Are

January 8, 2019 - Here at WorthPointe, we want to help you get the most out of life. We are constantly rethinking the traditional features of a wealth management firm and reworking them to better fit your busy lifestyle. This includes our online presence...
Continue Reading

Return to Blog Home