Excuses Women (and Men) Give For Not Investing – Part 3

by financialmom

in Financial Plan, Investing, Money

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“I’m not good with numbers” – how many times have I heard that as an excuse not to invest? You do not need complex algorithms to make a good financial decision.  Would it be possible you could learn to love numbers as you watch your investments grow over time? 

Here are some more famous excuses for not investing:

Social Security

There are many women (and men) who think Social Security will take care of them, so they don’t need to invest. Have you even looked at whether your Social Security income will be enough to pay your expenses?  Will it be enough to cover the extra things you may want to do, like travel?  What if Social Security stops paying what you think it will?  Do you really want to be totally dependent on the government for your financial future?


“My parents never had extra money to invest, and they seem to be okay.” Your parents may be just fine, until the major medical event happens, or any number of other life challenges.  Then they could end up living with you.  Is this what you want for them, or for yourself in your retirement?  Think about it.

You may think you need every penny you make for your kids. Trust me, your children will not thank you later, when you have no retirement savings, and are forced to live with them.  Help your kids grow up to be financially responsible adults by saying no to purchases when you need to, and showing them you care about your future as well as theirs.

Lack of Knowledge

I do agree you need to have some basic investing knowledge to be an educated investor.  How else will you know whether your investment is sound? This is not an excuse for doing nothing, however.  With all the things you can do to educate yourself today – read books, go to seminars, meet with your advisor – there is just no excuse for a lack of knowledge.

I’ll Never Retire

I’ll never retire anyway, because I like to work. You may love your job, and think you will be there forever, or at least as long as you want to be.  But what if life happens, and you lose your job, or you develop a medical condition that prevents you from working, or you need to stay home to take care of another family member.   Things happen, and you will not have a backup plan.

Or you may have been taught to get an education, work for 40 years, and your company will pay your retirement. That may have been true in the past, when pensions were more common.  Most of us are now on our own to contribute to a retirement plan and provide for our future. If you are fortunate, your company still matches a portion of what you contribute.


You like your toys.  In other words, you like to spend your money. My response to this is you will like your freedom even more when you retire with a solid nest egg.  If it helps to think of it this way, think of your retirement account as the ultimate toy that will allow you to do everything you enjoy. Rather than a vague future that stops you from enjoying life now.  There is a balance here.

“I will invest when . . . .” I have heard it all. I will invest when the kids are out of the house.  I will invest when I get a raise at work.  I will invest when I get my tax refund.  I will invest when I get an inheritance.  I will invest . . . and of course the “when” never happens, or even if it does happen, you still don’t invest.

Protect your future choices by investing now.  Don’t wait – find a financial advisor you can trust, and get started.

New Profile Pic 2599R Excuses Women (and Men) Give For Not Investing – Part 3Pamela Otten is CEO of Pamela Otten LLC, a Registered Investment Advisor. She loves to work with women business owners and entrepreneurs, and women in transition due to job change, death, or divorce. Pamela will help you set and reach your financial goals, educate you to understand your investments, and teach you how to do more charitable giving. Pamela is a Qualified Kingdom Advisor (www.kingdomadvisors.org), trained and committed to integrating biblical principles with her investment advice.

cc smallest Excuses Women (and Men) Give For Not Investing – Part 3Photo Credit – Serge Melki

Financial Planning, Investment Advice, and Investment Management provided through Pamela Otten LLC, Registered Investment Advisor.

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