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Most of us moms would rank patience, discipline and consistency as among the most important traits of a good mother. We know that the terrible twos eventually end, screentime is earned, and dinner and bedtime routines are important. But guess where else these qualities shine? When we’re investing our money. Those were the three strengths valued most by 1,200 women investors Charles Schwab surveyed earlier this year.• Patience helps them wait for their investments to grow.
• Discipline enables them to stick to a plan and avoid emotional or impulsive decisions.
• Consistency ensures they invest money regularly to build their portfolio over time.
Of course, the survey didn’t differentiate between mothers and non-mothers, so there’s no reason to think these strengths are exclusive to parents. But you have to wonder how much motherhood might prepare women for investing their money, and conversely, how much investing might prime them to be good moms. In fact, the most common lesson the women learned through investing — to stay invested through the market’s ups and downs — could easily translate to a toddler’s tantrum: Just hang on, because it probably won’t last too long. To be sure, being a mom can make money management harder too. Twenty percent of survey respondents said they had less money to invest because they’d taken time away from their career for their kids and other caregiving. And 14% said childcare and other domestic responsibilities ate up their time to do research on their investments. But despite these and other barriers, 90% said they’re on track to achieve their financial goals. And roughly the same percentage said they feel empowered by their investing. So what? Whether you’re investing in your kids or your financial future, the right mindset is one of your best assets. This Mother’s Day, celebrate the moms in your life (including yourself, if you’re one of them) for all the strengths they bring to their families, financially and otherwise.Related Reading
• How Moms and Daughters Can Close the Investing Gender Gap Together (Motherly)
• Women Are Investors: How to Shift Your Mindset (Investopedia)
• Women Are Poised to Reshape the Financial Services Industry (World Economic Forum)
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