Saving & Investing
Becoming financially well-informed should be a priority
November 20, 2013
Rebecca Katz: Well we have a ton of questions left, and I actually want to just make sure that if there's something that you particularly think the audience should know; that we can leave them with a final thought from each of you. So rather than take some more of the specific questions, I would just ask, as you think about the audience, you think about women managing their finances either from an unfortunate situation or just getting started, kind of what's the one piece of wisdom that you really want to share with them tonight?
So Sarah, if you want to start.
Sarah Hammer: I think if I were going to share one thing, it would be that education can be a really powerful tool, and there are a lot of resources available here at Vanguard to help you, to help our clients. If you have questions, there are so many questions, and all of us have aspects of investing and saving and planning that are intimidating for us. So knowing where to go with those questions can help a lot. So educating, reaching out, getting the help that you need, we are here to help. I think that would be the one thing.
Catherine Gordon: Yeah, I'd actually like to put tonight's webcast in a time capsule and come back ten years from now and see if the questions change, because I'm actually very encouraged by the trends we're seeing among women wanting to be educated, wanting to be knowledgeable. Women coming into a marriage or a partnership having earned a salary, that have their own financial assets, feeling more confident. So I think looking forward ten years from now we're going to be in a place where women are more confident, and I would just encourage. I think that's just the trend we're seeing in the general population, so I don't know if that's necessarily wisdom, but words of encouragement.
Karin Risi: I couldn't agree more with Catherine, and I hope that's the case that education will steadily increase. But for the viewers of tonight's webcast, there was a large percentage of them that didn't feel confident; and for those viewers, I would say, again, a word of encouragement but the wisdom is really around make it a priority. So it's your job. There's a few things in life that are really important. This may not be the top one or two, but it's among the most important things you can do, not just for yourself but for your family and your loved ones.
So figuring out what your goals are, prioritizing those goals, getting a plan, and having the discipline to stick with that plan. And if you are a shared decision-maker in a relationship, engaging that other person, whether you're the primary decision-maker or vice versa, resolving to engage that other person into it.
Rebecca Katz: Now Sarah mentioned—and you run Advice Services—obviously, that we're here to help, but what forms does that help take? If people, obviously they can start with vanguard.com, but what else might they look for?
Karin Risi: Yeah, I mean we have a continuum of help and guidance for investors ranging from online tools on our website, and we mentioned the financial inventory, we mentioned the loss of a loved one. There are many things on our website that you can look at. There are tools and calculators for those that are inclined. Generally women are less inclined for tools and calculators, but they're there on vanguard.com should someone want them.
Rebecca Katz: But now we need to know our number.
Karin Risi: That's right. And then certainly we have actually thousands of investment associates that serve our clients, and they can help with a lot of these questions. And then for those clients that want additional help and guidance, we do have the Advice Services groups; and we have ongoing relationships with clients where we manage the assets for people. And that's where some of these life events, it's really helpful to have that objective third party that the relationship is established. There's an investment policy statement. The goals are set out. The prioritization is clear. Your progress toward goal is clear. There's very little guesswork. It's not perfect, but it can help.
All investments are subject to risk, including the possible loss of the money you invest.
Vanguard Asset Management Services are provided by Vanguard National Trust Company, which is a federally chartered, limited-purpose trust company operated under the supervision of the Office of the Comptroller of the Currency.
Advice services are provided by Vanguard Advisers, Inc., a federally registered investment advisor. Eligibility restrictions may apply.
This webcast is for educational purposes only. We recommend that you consult a tax or financial advisor about your individual situation.
© 2013 The Vanguard Group, Inc. All rights reserved.
Take time to educate yourself on your finances
If you had one piece of financial wisdom to pass along, what would it be? Vanguard investment and advice experts Catherine Gordon, Karin Risi, and Sarah Hammer share their suggestions.
Other excerpts from this webcast:
- Balancing multiple goals and needs
- Starting over and overwhelmed
- Why ignoring your finances can be a critical mistake
- All investing is subject to risk, including the possible loss of the money you invest.
- Vanguard Asset Management Services are provided by Vanguard National Trust Company, which is a federally chartered, limited-purpose trust company operated under the supervision of the Office of the Comptroller of the Currency.
- Advice services are provided by Vanguard Advisers, Inc., a federally registered investment advisor. Eligibility restrictions may apply.
- This webcast is for educational purposes only. We recommend that you consult a tax or financial advisor about your individual situation.
© 2013 The Vanguard Group, Inc. All rights reserved.