Women have historically lacked the confidence in their ability to invest. Financial wellness is no longer a taboo topic as more women take control of their financial independence and build their wealth.
In this session, we celebrate International Women's Day with a special talk between some leading women entrepreneurs in Singapore, as they discuss their personal investment journeys and their insights on building financial wellness for women.
Find out more from Sin Ting So, Chief Client Officer of Endowus, Anna Haotanto, Founder of The New Savvy and COO of ABZD Capital, Dr. Elaine Kim, CEO of Trehaus and Dr. Juliana M. Chan, CEO of Wildtype Media Corp as they discuss the importance of female investing in Singapore.
0:00 Introduction to Endowus
0:58 Introduction to guest speakers
9:32 Why do you think men and women look at investing differently?
13:43 How do women look at investing and money management?
17:05 Personal investment journeys of guest speakers
29:00 Should women be investing more?
31:00 What are some lessons and mistakes women make in investing ?
39:08 Mistakes women should NOT make when investing in their children's futures
43:30 How you should strive for financial independence and take care of your family
51:00 Advice for new female investors
60% of Singaporean women rely on cash and personal savings for their retirement, with this in mind how did you start investing your own money? (16:48)
Dr. Elaine: I've always had a great interest in business and while I was working full time as a doctor, a way for me to get involved without starting something on my own was to be an angel investor. Over the years, I used my business experiences, such as selling my first business, starting Trehaus and a lot of support investment learning through family investment circuits, to help guide my investment journey and portfolio.
Dr. Juliana: I learnt investing from my dad in the late 1980s, I come from the generation where I looked at stocks on the tele-tax, where all the stock prices are issued on the television on a black and white line and my dad used to plot everyday stock prices on a gigantic graph plot and use a ruler to draw a line and connect the dots. While as today, seeking alpha or market watch apps do that for you automatically. As I grew older my dad advised me to invest in REITs. He always encouraged me to hold for the long term and over the years I maintained that long-term outlook.
As a woman, what are some of the biggest financial regrets or mistakes you've made in your journey? (31:00)
Anna: The first mistake I made was actually to listen to a hot tip. I went home and bought some shares in a certain company and the stock fell. I went in and bought more, and in the end I lost all my money because the company went bankrupt. Throughout my journey I have heard people say "you should buy this" or "I have this tip" and you get a bit tempted. What I've realised is that the big money you can make, the life changing money, is actually in investing long term. Basically just put it there and don't feel any urge to trade.
Dr. Elaine: I agree with Anna about not trading. Unless you can be full time doing it, intensely trading and really watching the markets, it is very hard to do. Try to have a long term view.
Dr. Juliana: I did not learn to diversify my investments early enough. I'm always impressed by how diverse institutional investor portfolios are. They have precious metals, ETFs, mutual funds, everything under the sun, they have diversified so well they don't have to worry about one falling.
How do you handle family duties with your partner, so that you are free to take care of your own finances and life goals? (44:13)
Dr. Juliana: My husband and I have our own separate accounts where we keep our savings and our earnings, and we have a joint account where we put 50/50 into it to manage our children's activities and mortgage so on and top it up when needed. Women generally only have a joint account with their husband, in this event you can be left penniless. It is so important for women to have that knowledge of financial literacy.
What are some resources would you recommend to a woman who is starting on her investment journey? Also, should she engage a financial advisor? (52:16)
Anna: Start as early as possible, start small, and learn as much and educate yourself in things you don't know. There are always platforms like Endowus that have professionals managing it for you.
Dr. Elaine: For women especially, I think New Savvy and Endowus are great resources to learn with and start your investment journey.
Get a head start on financial literacy & general investing by watching our Investing 101 with Endowus 4-part series here.