Who Are Better Investors: Men or Women?

Better Investor Wall Street Bull

The battle of the sexes has long been a familiar theme when it comes to who are the better investors. But current trends show that women and men’s investing habits are getting closer.1

Who are Better Investors, Men or Women?

Traditionally, women are more cautious investors while men tend to save more, but are bigger risk takers. One investment writer said that today “women are generally model investors,” while men still take unnecessary risks. While the data shows that women generally do better than men when it comes to standard investing practices, fewer differences persist.

Women Research

A recent national survey published by USA Today showed that women tend to make better investors because they research investments in depth before making portfolio decisions and they are more patient since men are more prone to market impulses.

Women Participate

When it comes to employee retirement plans, women are more likely to participate in their employer’s 401(k) retirement plan. They create ways to ensure that their contributions remain steady which is one of the keys to help grow the returns by the time they are ready to tap the funds.

According to one Vanguard study, 66 % of women participate in voluntary contributions to their 401(k) accounts compared to 58% of men. In a recent USA Today article, “Women are Mostly Better Investors than Men,” Nelli Oster, the author says that “women tend to focus on longer-term, non-monetary goals. Instead of merely viewing money as a means to purchase something, they consider money to represent independence and security.”

Women Seek Advice

The article also notes that women are more likely ask for direction on investments whereas men are more likely to make decisions on their own without seeking professional advice or guidance.

One problem for men, according to Chip Hymiller, a financial planner in North Carolina, men tend to be “more trigger-happy.” When a stock in their plan starts to go down in value, 11 percent of men will make a trade and dump the stock and try to buy a better-performing one.

And another investment advisor said that in general women have “a lack of confidence in their knowledge of financial planning and investing” that the advisor believes is really self-imposed.

The advisor went on to say that an analysis of more than 12 million investors shows that women actually demonstrated stronger saving rates than their male counterparts and enjoyed better long-term investment performance when they did engage. Unfortunately, too many women still hesitate to take control of their finances.

Future for Women

The reality is that 90% of women will have to manage their personal finances on their own at some point in their life. That is why it is imperative for women to develop a solid understanding of how to manage their money so that they can make good decisions about their investments.

In part two of our program, we will summarize the differences between men and women and their investment success and attempt then to answer the question, “Who are better investors; men or women?

### Larry Marvin
LifeCrafter – Money $ense

  1.  ©2016 Larry Marvin, Image Credit: Charging Bull by Sam Valadi CC flickr 22JUL2011

Testosterone Treatments May Cause Strokes and Heart Attacks

Heart Attack or Stroke

 

Immediately following an announcement by the Food and Drug Administration that it was investigating increased strokes and heart attacks resulting from testosterone treatments, five lawsuits were filed against the manufacturers of testosterone replacement treatment AndroGel.

In some cases, the risk of heart attack doubled.

If you suffered a stroke or heart attack after taking testosterone treatments, a LifeCrafter coach can provide information to help you make a claim.

Source: www.law360.com

Actos Increases Bladder Cancer Risks

shredding actos evidence

The Food and Drug Administration (FDA) informed the public in June of 2011 that Actos (a drug prescribed to treat diabetes) may be associated with an increased risk of bladder cancer.

Recently, during the first jury trial where a Plaintiff has asserted that claim, the maker of Actos “lost, deleted or destroyed” files rather than risk the jury seeing them.  Perhaps they were shredded?

If you have been diagnosed with bladder cancer after taking Actos, a LifeCrafter coach can help you get the information you might need to investigate a claim.

Source: fda.gov, The Jere Beasley Report, Vol. 1 No. 4 March 2014

New Food Safety Worker Protections

food worker picking greens safety

The Food Safety Modernization Act (‘Act’) protects workers who disclose food safety concerns.  If you work for a company that manufactures, processes, packs, transports, distributes, receives, holds or imports food, the Act protects you from employer retaliation from reporting safety concerns.

Prior the the Act, employees faced retaliation and termination if they reported food safety concerns to their employers or to the government.

There are time limits for filing retaliation claims and appeals.  If you need help reporting a safety concern or making a retaliation claim, subscribe to our email list.

Source:  Law360.com

 

Old Debt Dressed In New Clothes

Zombie Debt

Debt Collectors are constantly coming up with new ways to make money. Here is one you might not know about. Rather than collect a debt for someone else, Debt Collectors are buying old debt and “re-aging” it. Imagine that a man dies and someone dresses him in a new suit and then tries to convince you he is alive. The industry has actually started calling it Zombie Debt. This works something like this.

A Debt Collector finds a creditor that has a group of people that owe them. It is too late for the creditor to file a lawsuit over the debt. Usually the creditor has written the debt off and taken the write off on their taxes. Then the creditor sells the debt to a Debt Collector for pennies on the dollar. Using various services-for-hire, the Debt Collector updates the phone and address information and sends out letters or starts making calls to collect the debt.

Why should you care? Several reasons. First, since the debt is so old the information about it is often compromised. Names get confused, payment transactions get misapplied and payoffs get lost. As a result, you get calls and letters about debts that do not even belong to you.

Second,  collection letters, which do not disclose the debt as old may violate the Fair Debt Collection Practices Act (FDCPA) even though they do not threaten litigation and merely seek to settle the debt.

Third, these bogus debts may get reported to credit reporting agencies.

The bottom line is:  if you get contacted about a debt make the debt collector tell you WHO the original creditor was and WHEN the creditor was started.  If it more than a three years old, make sure it is still collectible.

If you would like to work with a Life Crafter coach to resolve a problem with old debt (or new debt for that matter), join our email list.

Source:
McMahon v. LVNV Funding, LLC and Delgado v. Capital Management Services, L.P., 2014 U.S. App. LEXIS 4592 (7th Cir. March 11, 2014).

Fair Debt Collection Practices Act, Fair Credit Reporting Act

Source of Unexplained Identity Theft

Stealing Identity

If you are a US citizen, Experian, one of three US credit reporting agencies, most likely has a file on you.  So, it may alarm you that Experian has been sued for selling private consumer information to a Vietnamese man that in-turn sold the information to identity thieves.

It is the first action taken against the data broker and Experian bureau since Vietnamese national Hieu Minh Ngo, pleaded guilty in New Hampshire federal court to running an underground website that offered clients access to personal data of Americans. Ngo had access to database of records on some 200 million Americans, according to court filings.

Federal officials say Ngo obtained Social Security numbers through a U.S. firm known as Court Ventures, which provides customers with access to court records. It also offered them access to a database of Social Security numbers through a data-share arrangement with another firm, known as U.S. Info Search.

Officials with both Experian and U.S. Info Search say they have not been able to ascertain which records were accessed by Ngo’s customers and are therefore unable to notify victims.

If you or someone you know is a victim of identity theft, we welcome the opportunity for you to use Life Crafter’s ID Theft Checklist for free.   Or, if you prefer, a Life Crafter coach can work with you directly.

Fair Credit Reporting Act

Credit Protection Plus Refund

BOA Logo

 

 

 

 

 

Bank of America is under investigation for selling “Credit Protection Plus” and “Credit Protection Deluxe” its credit card customers.

The core of the investigation is that Bank of America used assertive or deceptive methods to sign its customers up without clearly providing the costs associated with such products, claiming that they would protect the cardholders from identity theft or cancel debt in the event of a job loss.

In fact, the products offer little financial benefit.

If you subscribed to either of these products, you are eligible to make an immediate demand for a return of fees you were charged and any related expenses.  To make a complaint go to:  http://www.helpwithmybank.gov.  Or, if you prefer, a Life Crafter coach can work with you directly.  Simply fill out the form below.

Uniform Deceptive Trade Practices Act

 

A Third Of Collection Debts Fake

Fake

A third or more of debts in collection are not owed, according to the Consumer Finance Protection Bureau.  Why should you care?

Collection calls are being made, collection letters are being sent, adverse reports are being made to credit reports  —  all for fake debts.  If it wasn’t your debt in the first place, how will you now STOP the calls or letters?  How will you get it off your credit report?

Even if it was originally your debt,  the lack of data integrity indicated by this fake debt collection results in payments not being applied correctly, charges being made wrongfully and payoffs not being rightly updated.

The other top complaints were: Improper communication tactics, Taking or threatening illegal actions, Disclosure and verification of debt, False statements or representations and Improper contact or sharing of information.

Source: Consumer Finance Protection Bureau 2014

Craft Health

Life Crafter is a non profit organization that is dedicated to empowering its members craft health.  Several tracks are available so that members can start at the level that best suits them.

The overarching purpose is to emphasize true nutrition in diet.  Click below to chat with one of our coaches (if a coach is not available, the link will convert to an email option).  Or, if you prefer, you can fill out this form:

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