Understanding myself, underpins my future — Highlights from our first Endowus Empower event

An evening of self-discovery and financial empowerment

As part of our community impact initiative, Endowus Empower, we are proud to have brought to life our inaugural community event on 10 May 2023. It was an intimate and impactful gathering of women — each a changemaker in their respective fields — as they discovered their individual strengths and how to tap into those strengths to achieve their wealth and life goals.

The Endowus Empower #EMbassadors invited their friends and family to join us for a cosy evening of tea, chocolates, and conversation. Through an insightful Clifton StrengthsFinder assessment, they learnt more about what makes them unique, and how they can map their strengths to financial planning and investing for their specific short-term and long-term wealth goals.

Our very first panel of #EMbassadors includes:

• Chow Jia Hui, Host, and Content Strategist
• Dr Jade Kua, Master Certified Coach, Jade Life and Wellness
• Jaime Lee, Co-founder, and Creative Director, The Paper Bunny
• Jasmine Chong, Managing Director, Lab Studios
• Munah Bagharib, Actress, Host, and Content Creator

We hope to empower more women to take charge of their own financial future at every stage of their lives. Our Endowus Empower community impact initiative connects beneficiaries, #EMbassadors, brands, and businesses, to create an ecosystem and network of support, knowledge, and resources.

Endowus is committed to empowering different underserved, underrepresented, and underprivileged communities — by providing meaningful support that addresses their unique needs, helps overcome the obstacles that stand in their way, and builds their confidence to achieve their wealth and life goals.

How women can take charge of their wealth

Kicking off the evening, Endowus CEO, Gregory Van, discussed why it’s crucial that women take an active role in building their wealth and planning their personal and family finances. Money matters to think about may include managing mortgage repayments, financing their children’s education, building up cash for rainy days, and planning for retirement.

Numerous studies have shown that women often make better investors than men. Yet, many women tend to lack the confidence to start investing. Of those surveyed for the Endowus Wealth Insights Report 2023, a bigger proportion of women than men said they have little to no experience with investing. 

When it comes to the different types of investments, women are more likely to go for fixed deposits with banks — instead of higher-risk asset classes such as stocks. The majority of women respondents (62%) also prefer to preserve their capital by taking minimal risk.

Greg emphasised that investors need to discern whether a wealth manager is truly independent and conflict-free, so as to choose the right platforms that are fully aligned with their needs, circumstances, goals, and risk appetite. This is all the more important for those who are new to investing and financial planning.

Participants at the event also learnt about the power of markets and compounding — especially when coupled with the right advice, access, and cost. Your money can work harder for you if you start investing early, stay invested, and take advantage of compound interest. This will help bring you closer to whatever life goals you hope to achieve, be it financial freedom, buying a home or car, early retirement, or paying for your child’s university tuition fees.

Tap into your unique strengths

Next, Lim Kim Pong, CEO of StrengthsAsia, conducted a coaching session to help our guests better understand their strengths and weaknesses — as well as how that can impact the way they think, feel, and behave.

Through a series of games and think-pair-share activities, the participants gained valuable insight into what makes themselves and their peers truly unique.

A key takeaway from this session: Instead of fixating on what you may be lacking in, lean into developing your unique strengths. While it’s important to work on our weaknesses, it’s even more important to cultivate our strengths. We can only become our best selves and step into our fullest potential when we accept the sum of who we are, not just its parts. 

By having these authentic, heartfelt conversations, our participants built confidence while breaking down barriers and inspiring each other to take charge of their financial future.

Investing for your life goals

We capped off the evening with an educational chat on personal finance and financial literacy with Endowus’ Chief Client Officer, So Sin Ting.She guided the guests on how they can think about their first investments and embrace a more holistic view when it comes to financial planning.

She also highlighted that retirement planning is especially critical for women, given that they live longer on average (more than 85 years) as compared to men (about 81 years).

Sin Ting encourages women to adopt a goal-based investment approach. That involves planning and investing towards specific personal life goals, and should be at the core of how you manage your money.

With a goal-based approach, you can better identify:

1. How much money to invest;
2. The right investment strategy and asset allocation for this goal; and
3. The appropriate level of risk you should take to get you there.

When your investment portfolio brings you closer to reaching your goals, that can then indicate a “successful” investment outcome.

“At the end of the day, what truly matters is whether you meet your unique goals in life, whether that is taking your kids' education, your parents’ retirement, buying a house, or retiring the way that you want. That's what matters, it's not about beating the market,” Sin Ting says.

We are all different — each of us has our unique life circumstances, goals, financial needs, and risk appetites. As you embark on your personal investing and financial planning journey, as with your individual strengths, make sure to avoid the trap of comparison. Do not be distracted by what others are doing; focus on working towards what you want to achieve.

Three simple tips to start investing

Good investing isn’t as hard as it looks. For women who are just beginning their investment journeys, Sin Ting shares her top tips:

1. Make investing a habit — automate it if you can

Setting up an automated, monthly recurring investment makes a lot of sense for time-strapped women who juggle multiple responsibilities. 

As a new mother herself, Sin Ting knows firsthand that simplifying the investment process allows her to focus on what truly matters, such as being present with her little girl. 

The routine also takes the emotions out of investing. It’s human nature to be affected by the noise around us. When our investments are automated or have become a consistent habit, we’re less likely to make impulsive, speculative decisions based on personal opinions or knee-jerk reactions to market news.

Sin Ting says: “This is an effective way to dollar-cost average into the markets, remain disciplined in investing, and grow your investment pool over time.”  

2. Diversify your investments

It is incredibly difficult to predict how the markets will perform and which stocks will do well with certainty. Diversification is the best way to navigate the volatility and uncertainty of the financial markets, and helps you lower your overall portfolio risk. 

Stay diversified in terms of the number of holdings, sectors, countries, and market capitalisation — that means exposure to tens of thousands of stocks and bonds.

“It takes time to work, but allows you to weather the worst storm,” Sin Ting says. 

3. Time in the market, not timing the market

Don’t try to time the market and enter at the absolute lowest point. Even so-called experts have been proven to be bad at it, given how unpredictable the markets are. Data shows that those who stick with an investment plan at a risk level suitable for their goals stand a much better chance of success than those who try to speculate and time their exposure.

Sin Ting adds: “You don't have to try to beat the market to be a successful investor. Historically, markets have really rewarded investors with long-term exposure.”

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As part of our community impact initiative, Endowus Empower, we have established a Women & Investing community to empower women with the choice, confidence, and community to kickstart their investment journey and work towards their life goals. More exciting partnerships and engagements are to come in the following months.

To explore our curated section of investing articles dedicated to women, follow this link. To get started with Endowus, click here.

Read more:

• How women can take the first step in investing
• Financial planning through life stages
• Goal-based investing and why it matters
• How to start your investment journey and invest your CPF savings

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Investment involves risk. The value of investments and the income from them can go down as well as up, and you may not get the full amount you invested. Past performance is not an indicator nor a guarantee of future performance. Rates of exchange may cause the value of investments to go up or down. Individual stock performance does not represent the return of a fund. 

Any forward-looking statements, prediction, projection or forecast on the economy, stock market, bond market or economic trends of the markets contained in this material are subject to market influences and contingent upon matters outside the control of Endowus Singapore Pte. Ltd. (“Endowus”) and therefore may not be realised in the future. Further, any opinion or estimate is made on a general basis and subject to change without notice. In presenting the information above, none of Endowus, its affiliates, directors, employees, representatives or agents have given any consideration to, nor have made any investigation of the objective, financial situation or particular need of any user, reader, any specific person or group of persons. Therefore, no representation is made as to the completeness and adequacy of the information to make an informed decision. You should carefully consider (i) whether any investment views and products/ services are appropriate in view of your investment experience, objectives, financial resources and relevant circumstances. You may also wish to seek financial advice through a financial advisor or the Endowus platform and independent legal, accounting, regulatory or tax advice, as appropriate.