Quote Of The Week: The #1 Mistake Women Investors Make

Sallie Krawcheck – Photo by Noam Galai/Getty Images for TechCrunch Attribution 2.0 Generic (CC BY 2.0)

“When it comes to investing, the biggest mistake women make has nothing to do with where they’re choosing to invest their money.

Rather, the issue is they’re not investing enough in the first place.”

Sallie Krawcheck, co-founder and CEO of Ellevest, a digital investment platform for women, interviewed by CNBC MakeIt

Krawcheck, an investing trailblazer who once ran Merrill Lynch, says that for women, not putting their money to work can be “a bigger drain on their net worth than the gender pay gap.”

“We tend to leave more than 70% of our wealth in cash as opposed to investing it. For the typical professional woman, that can cost her hundreds of thousands — for some women, millions — of dollars over the course of their lives.”

About Mari Adam

Mari Adam, Certified Financial Planner™ and President of Adam Financial Associates Inc, has been helping individuals and families chart their financial futures for over twenty-five years. Have a question about your financial situation? Ask Mari!

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