Why Gorgeous, Sexy and Rich is Your Birthright as A Woman

Written by Norma on 16 July 2010

Upcoming Article in ShareInvestor

When I wrote the book ‘Gorgeous, Sexy and Rich’, I was asked repeatedly by men and women why I chose this title. Well, if you remember the show ‘What Women Want’, starring Mel Gibson and Helen Hunt, what women want is a real question, isn’t it? To me, it is simple. Being gorgeous, sexy and rich is what women want.

We want to be gorgeous to the people who count in our lives, including our husbands and lovers, our children and our friends, even if we are dressed in the simplest of clothes and make-up. We want to be sexy or having the feeling of confidence that we can take on the world on our own terms without needing to be afraid of being put down or harassed, in other words, self-confident. And we want to be rich, which to me is the knowledge that we are financially independent and we are truly wealthy, wealthy with all the real things which count as well on top of money. The real things which count are family, friends, health and meaningful work that engage our heads and hearts.

So how can GSR not be your birthright? It is the birthright of every woman, and yes, someone said, every man. The question however is, how do we get there?

In my book of the same title, published by Marshall Cavendish, I outlined the roadmap. Again, it is simple. Budget, Invest, and of course, you get to Spend. It takes too long to cover the 4 categories of financial independence in this short article and how you can get to GSR. To go over that, buy my book or borrow it from the National Library. The proceeds go to charity, so this is not an advertisement. What I will therefore write about here is to respond to three popular questions which I receive:

* Should I not leave investment to the men? They are better in maths that women are,

The research shows that women make better investors than men, sometimes bettering the returns by between 1-2% of the portfolio invested. The reasons for this are that women are more careful than men are and women do research. Further, women are less likely to have knee-jerk reactions which is to sell or buy on an impulse compared to men. The reason why men appear to be be more successful than women in investment is because men have a tendency to boast about all their achievements and forget their mistakes and failures. Women on the other hand, forget their success and remember their failures. It has to do with how we have always been anthropologically. Of course! If men remember how a friend of theirs was eaten by a mammoth tiger, they will never go out to hunt again. So the male psyche is to pat each other on the back and push each other out to hunt again. Women on the other hand sit around the community fire and deliberate over their mistakes over and over again as they slowly make mammoth tiger stew.

* Should I buy the beautiful handbag instead of invest?

The other thing that we women do very well is to gather. While men were the hunters, we were the gatherers. That is why we love handbags! Any size, big or small. We must have something to keep the things we gather! Well, maybe. The thing about buying anything, including handbags, branded or unbranded, is that we have a perception about what is of value. Once we can see that handbags do not have any real gathering value, but shares do have the ability to grow and to multiply, once we get a hang of that feeling in our lives, we will invest. The problem is ensuring that the investment grows and not shrink. When they shrink, we get frightened. Oh yes, women get frightened easily when it comes to losing money. But, once we are able to find the right asset class to invest in, one that we are comfortable to make investments in repeatedly, we have found a growth formula that works for us. It does not mean we will not lose money. But it means that we are better in growing that asset class than in other asset classes. In that event, the handbag or other branded goods issue becomes smaller and always seen in context of the larger and more significant purchase which is the investment. We just need to find the right asset class for our investment forays. In my book, I also explain why clothes, handbags, shoes and jewellery are not an investments although the retailers are all trained to tell you, ‘Oh, it’s an investment!’ Never be suckered with this line. Ever!

* Why should a single woman work towards buying a house?

Many single women make the mistake of thinking that they will let Mr Right take care of the house for them when they meet him. They do not focus on investment into homes as they feel it is too large an investment or a decision that must be made together with Mr Right. The problem is for most single women, meeting Mr Right is not the easiest thing. Finding the right condo is. In Singapore, it may seem difficult to purchase HDB apartments as a single. Perhaps then a few single women as good friends can get together, see a good lawyer, work together and purchase a condo as tenants-in-common. The reason to do that is that property is probably the single largest investment you can make in your work life, and the market moves. You should not feel that you must sell the property on marriage. Work something out with your husband-to-be. He should understand your need to be financially secure as the statistics show that he will probably die before you. Sad but true. Also, remember what marriage does to both your assets on death if you do not leave a will. If I am asked what the mistake I made as a single woman when it comes to investment, it is that I had thought of property as something that one should look at only after marriage. Buying a home is a big decision. But it is not an impossible decision. Read, research, plan, understand and then jump in. You will find it not so difficult after all. And investing is the same. Read, research, learn, plan, understand, and then jump in. Carefully. But yes, jump in.

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