What can we learn from investors' confidence and success? The top three pieces of advice from women investors across all three countries for those thinking of becoming do-it-yourself investors are:
- Do your research - understand the economy and the markets ( Canada: 68%, U.S.: 73% and U.K.: 64%)
- Start small and work your way up once you are comfortable ( Canada: 67%, U.S.: 61% and U.K.: 64%)
- Don't be afraid to ask for help, you don't have to do it alone ( Canada: 58%, U.S.: 59% and U.K.: 48%)
Market volatility and attitudes about risk The majority of women say they have changed nothing in their portfolio in reaction to volatility in the markets ( Canada: 61%, U.S.: 54%, U.K.: 52%), saying they are confident they have a long-term plan that can weather the volatility.
"Try to avoid emotional reactions to what you're seeing in the markets. It's important to think long-term when the markets get rough," says Chan. "Think about the number of years you have until retirement, and your risk tolerance, and tailor your investment strategy accordingly."
Generally, women say they are risk-averse; Canadian and British women report to be the most conservative. Thirty-eight percent of women in Canada and 35% of women in the U.K. say they don't want to take any chances with their money - only one quarter of American women (25%) gave this answer. The majority of women in all three countries said they are willing to take small chances to receive a better return ( Canada: 58%, U.S.: 66%, U.K.: 60%), and very few women describe themselves as having a high risk tolerance ( Canada: 4%, U.S. 8%, U.K.: 5%).What does this all mean? "Women investors can be confident and successful online investors, despite the turbulence they have seen in the markets recently," adds Chan. "The keys to success include thinking long-term and educating yourself on the tools, information and research available, and most importantly, working with a company that you know and trust."