Subha Barry, who spent over two decades in the financial services industry, says women often abdicate investment decisions to their spouse.
Ms. Barry, who worked as a financial adviser at Merrill Lynch, says some women would frequently sit quietly while their husbands asked questions in advisory meetings.
Women, who typically manage their family’s budget, are more than capable of learning about stocks and bonds, she says. She encourages those just starting out to learn a little bit each day and work with a financial adviser who is willing to answer their questions.
“Women are almost naturals at managing money and wealth,” she says in this Secrets of Wealthy Women podcast with Veronica Dagher.
Ms. Barry is now president of Working Mother Media, a media company that hosts events to promote diversity in the workplace. She challenged her former clients to take an active role in their finances by encouraging them to read financial news about the companies in their portfolios or lives. For example, if a woman bought
sneakers for her children, she would encourage the woman to read ten articles about Nike Inc.
Ms. Barry also explains why it takes time for a company to become more diverse and how cancer helped shape her view of money.
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