Did you know that while women only make up 18% of active investors across Australia, female investors statistically perform better than their male counterparts? So why are there not more females getting into the world of investing?
Does it matter that women only make up 18% of Aussie investors? Yes, it does. Whether it’s spending less time in the workforce on average (generally from starting families), or that society has a habit of making finance a ‘male topic’, women, generally speaking, have less to retire on than their male counterparts – 47% less.
Ultimately, something needs to shift in order to create more equality in financial literacy and financial outcomes between men and women.
Whether it’s behavioural or circumstantial differences that account for the 82% discrepancy between male and female investors, Maddy Guest and Sophie Dicker may have a solution.
Maddy and Sophie are the hosts of new money and investing podcast, ‘You’re In Good Company’, the fifth show from Equity Mates Media. The premise of the show stemmed from the girls’ own frustrations when they were searching for simple and informative investing resources.
‘When we started investing, we struggled to find friends to discuss investing with and learn from,’ says Maddy. ‘Investing is uncommon amongst our female friends, and the stats show that women are not where men are when it comes to investing. We want to inspire women to get started, and help to navigate the conversation,’ she explains.
When Maddy and Sophie started digging deeper into whether or not there was appetite for a female-led investing podcast, they were overwhelmed by the response.
‘The reactions that we got from people were really positive, and now that people know that we’re doing this, I have friends messaging me every other day asking for advice, or for help with how to get started – we just laugh and say “Can you just wait til’ we release the podcast!?”’ says Maddy.
‘The other thing I was quite surprised by was the perception that it’s so risky and females in particular seem to be really apprehensive… There is this idea that investing is more attuned to gambling as opposed to growing wealth – that’s a big thing we want to debunk,’ she adds.
And the task doesn’t end there. It’s one thing to have the desire to start investing – it’s another to have access to the resources that will give you the confidence to take action. That’s where ‘You’re In Good Company’ steps in.
‘There’s a lack of condensed information. Endless researching online and reading lengthy books can be far too daunting, and so we wanted to create something digestible for people,’ says Sophie.
As the title suggests, you really are in good company with Sophie and Maddy who both studied and currently work in the financial services industry. But what’s more important is that the girls have a genuine desire to learn and to take thousands of women on the journey with them.
‘The podcast is all about starting the conversation and creating a community where our listeners can gain confidence,’ says Maddy.
‘Honestly, we’re here to get more women on board, get curious and get involved in a world where females have historically been excluded from,’ adds Sophie.
So who should listen to You’re In Good Company? If you’ve been routinely putting investing into the ‘too hard’ basket, even though you know deep down it’s something you should be doing, then Maddy and Sophie could be the friendly nudge you need.
‘The show is for women who have existing good money habits and are curious about taking the next step towards building financial independence,’ says Sophie.
‘It’s the podcast for women who are hungry for more and ready to make their well-saved money work for them,’ adds Maddy.
Each week, the duo will be bringing insightful, thought-provoking experts onto the show to navigate and simplify everything you need to know about taking the plunge into the stock market.
‘We want the podcast to be a safe space – it’s not like we have all the information either. We’re learning as well, we’re part of the process and we’re all on the same journey!’ says Sophie.
The girls’ end goal is to shift that 18% and to get women feeling ‘more comfortable and confident to join the conversation, educate themselves and make more informed and empowering financial decisions,’ says Maddy.
If you’re feeling ready to graduate from good saving habits and money hacks to growing wealth and building the foundations for financial freedom, You’re In Good Company promises to usher in a new community of like-minded and financially savvy women.
If you’ve been asking yourself if you should start investing, the answer is yes. But first you should listen to this podcast. You’re In Good Company launches on the 23rd March on all major podcast streaming services. Follow Maddy and Sophie and join the conversation on Instagram @yigcpodcast.