With 2020 changing the landscape of business, personal savings, wealth, property & social interactions there has never been more interest in financial literacy especially from women.
Many of the women I speak to daily here at Mskin PRO are business owners & career women who have all expressed either concern or interest at some point this year on financial literacy so I have decided to launch a wealth segment to chat with experts on the best ways to stay ahead of the curve balls that we may see in the future.
Whether you are more focused on asset protection or building your wealth the following comments from Jordan Vaka who is a financial adviser based in Melbourne, Australia will help to provide you with a solid foundation. Jordan's practice Planning Solo focuses on helping women through divorce, especially rebuilding afterwards.
Jordan recommends the following ways to invest in 2020/21
"In my opinion, the three best ways to invest are:
1) In Yourself.
Regardless of where you are in life and where you want to go, the confidence that comes with education and training is invaluable. Perhaps it's formal education to help progress your career, maybe it's developing your skills in your hobby to boost your enjoyment - for mine, the best bang-for-your-buck comes from investing in your self.
2) In Professional Advice.
I would say this, wouldn't I?! But I'm a big believer that investments are just the bricks - without a plan, it's going to be hard to build something out of them. Work with a professional, independent adviser to map out where you are, where you want to go and what steps will help you get there. The investment decisions are then a lot easier.
3) In Shares.
I'm wary of giving actual advice here, so big disclaimer that they're not right for everybody. But given the current financial and economic climate, owning small parts of great businesses is a great way to build long-lasting wealth.
Check out the She's On The Money podcast and for millennials, the My Millennial Money podcast is also really valuable.
In terms of other reading, for those a little more advanced in their investment education, check out Warren Buffetts letters on the Berkshire Hathaway website. Decades of excellent, fundamental financial education - well written AND for free."