How Can You Be a More Confident Investor?

November 15, 2021
Underconfidence in financial matters can affect anyone, but women can be especially prone to undervaluing their expertise. Are there steps you can take to feel more empowered?

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After you listen

  • Check out more of Schwab's resources for women investors.
  • Follow Mark Riepe on Twitter: @MarkRiepe.
  • Check out more of Schwab's resources for women investors.
  • Follow Mark Riepe on Twitter: @MarkRiepe.

In assessments that show women to be less financially literate than men, is that gap due to a lack of knowledge or a lack of confidence? One recent study revealed that women tend to disproportionately respond "do not know" to questions measuring financial knowledge, but when this response is unavailable, the gap closes substantially.

In this episode, Mark tells the story of Monique Currie—a highly successful basketball player in college and the WNBA. Despite all her talent and achievements, Currie has noted how women basketball players tend to be less confident than their male counterparts.

Lacking confidence when it comes to complex tasks, such as investing in a diversified portfolio or mapping out a financial plan, can seem intimidating to anyone of any gender, but are there strategies that can help you overcome some forms of underconfidence?

Mark speaks with Laura McDowell, a regional director at Schwab. Laura is a CERTIFIED FINANCIAL PLANNER™ professional, a Certified Investment Management Analyst® (CIMA), and an Accredited Investment Fiduciary® (AIF). They discuss changing demographics, why some people suffer from impostor syndrome, and how to empower the next generation of women investors.

You can read more about the study that shows women are often more knowledgeable in financial matters than they think in this working paper from the National Bureau of Economic Research.

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