Top tips for making investments. Overcoming fears that get in the way of investing.
Women are generally very good at day-to-day budgeting and managing money for their businesses and homes. Where they are less savvy is in investing and financial planning. That is part of the reason there is such disparity between men’s and women’s pension savings.
My Guest this week, Elizabeth Pearson, started investing while working as an architect, learning from her dad as a way of sharing something he was passionate about. She discovered it was possible to get her money working for her alongside my job. As a financial educator, she now makes investing simple, sparkly, and sustainable for others.
www.simplesuccessfulstocks.co.uk
https://www.linkedin.com/in/elizabeth--pearson
@simplesuccessfulstocks
Join me for this essential conversation at TalkRadio.nyc or watch the Facebook Livestream by Clicking Here.
Pat starts by giving updates from the media. She talks about articles related to shortages of hormone replacement therapy (HRT) in the UK, a Davina McCall documentary called Sex, Myths and the Menopause, and women quitting their jobs because of menopause. She then brings up the gender pension gap which is 40% in the UK and brings her guest, Elizabeth Pearson, into the conversation. Elizabeth will share investing tips for women. Elizabeth says that she would advise her younger self to learn more about money.
Pat gives a more detailed introduction to Elizabeth, who is a financial educator who helps women learn how to invest. Elizabeth talks about her career path which started with architecture. She learned about investing from her father which led to her investing and eventually becoming a financial advisor. She then debunks some common misconceptions about investing, explaining that you do not need to have a lot of money to start and it does not have to take a lot of your time. She speaks about her passion for helping women become more financially literate. She talks about the potential benefits of investment clubs. She has found that many women find investing daunting because they tend to have a desire to know all the information about something before getting involved. However, women are usually less emotional about it. Elizabeth then talks about how it is never too late to start investing.
Elizabeth states that the best time to start investing is now. She then gives advice on how to get started such as putting aside some money for unexpected events, setting aside a cash safety net that has three to nine months of money for basic survival, and paying off debts. The next steps would then be to open an account, put money into it, and buy something with that money. She says that when starting out you should buy an index tracker fund which will bring in money over time. She recommends having a spread of index funds. She recommends the website www.boringmoney.co.uk and the book The Wealth Chef by Anne Wilson to learn about money and investing. Elizabeth talks about what she tries to teach people. Pat and Elizabeth then speak about the social implications of money and the idea of being generous with money if you have enough to give.
Elizabeth speaks about the importance of talking to others about investing as a way to learn and make it feel less daunting. She says that many women start investing in their midlife when they start thinking about their financial future or when they start to inherit money. Elizabeth’s biggest piece of advice is to invest in your financial education. Elizabeth offers free 45-minute conversations to help people start learning about investing. She also runs taster classes for £35. Listeners can find Elizabeth at www.simplesuccessfulstocks.co.uk.
00:00:44.100 --> 00:00:52.260 Pat Duckworth: hello, and welcome to the hot within rock radio show empowering women leaders at medicals good morning America good afternoon.
00:00:52.590 --> 00:01:05.850 Pat Duckworth: To the UK and Europe, good evening, if you are in India and even further, perhaps Singapore, I have been to Singapore, and I have actually talked about medicals in Singapore, what else would I be talking about really.
00:01:06.360 --> 00:01:18.180 Pat Duckworth: And i've just heard from my producer but the radio station is now streamed into 22 prisons across the UK So if you are listening to us in prison stay.
00:01:19.140 --> 00:01:31.440 Pat Duckworth: Welcome, and if there's anything that I can help you with do let me know because I would love to be helping I don't know if any of you saw and i'm going to be talking about it in a minute, but the Athena McCall.
00:01:32.760 --> 00:01:42.810 Pat Duckworth: Channel four documentary this week and it actually followed somebody who is a prison guard and how she was being helped in dealing with her menopausal symptoms so.
00:01:43.500 --> 00:01:57.360 Pat Duckworth: it's lovely to know that we have people all over the place, so we are going to be talking to Elizabeth Pearson later, who is going to be talking to us about investing because this is an area where women are falling behind.
00:01:58.020 --> 00:02:09.870 Pat Duckworth: But first let's have a look at what's in the media, and this week, it has been dominated by two stories here in the UK, if I couldn't find anything apart from these kind of two stories.
00:02:10.410 --> 00:02:19.620 Pat Duckworth: And last week and I think two weeks before that I was talking about shortages of hrt in the UK hormone replacement therapy.
00:02:20.010 --> 00:02:25.980 Pat Duckworth: And part of it being blamed on just too many women wanting, as you know, we are just so demanding.
00:02:26.880 --> 00:02:35.430 Pat Duckworth: and partly because of the second item i'm going to be talking about the defeat them a call documentary that because it raises the profile it meant that more women.
00:02:35.850 --> 00:02:49.770 Pat Duckworth: were asking about hormone replacement therapy this article comes from the Guardian but, honestly, it was all over the press this week, even after we got our minerals our last week, which is obviously going to make a huge difference.
00:02:50.310 --> 00:02:57.510 Pat Duckworth: In the Guardian, they said acute hrt shortages have left some women taking extreme measures to access medication.
00:02:57.900 --> 00:03:03.150 Pat Duckworth: With some reportedly traveling hundreds of miles borrowing from friends or even.
00:03:03.570 --> 00:03:12.270 Pat Duckworth: Turning to the hidden market and that's what's going on the Internet and it onto the black market by hormone replacement therapy seems amazing doesn't it.
00:03:12.930 --> 00:03:19.770 Pat Duckworth: So what advice to experts have for those trying to manage multiple symptoms without their usual medic medicine.
00:03:20.370 --> 00:03:34.770 Pat Duckworth: haytham her moda clinical lead for the medical service at king's college hospital and share the British Medical society said that, while the owners should not be on patients to deal with the crisis, there are some practical steps that could be taken.
00:03:35.880 --> 00:03:43.530 Pat Duckworth: there's been lots of reports of people going online and to the black market, which gives a bit of a sensational aspect to this, he said.
00:03:44.250 --> 00:03:54.570 Pat Duckworth: Instead, her motor recommends that, if necessary, women can switch to different hrt preparations designed to deliver the same hormone concentrations.
00:03:55.140 --> 00:04:03.120 Pat Duckworth: The British Medical society has published an equivalence guide for GPS that's general practitioners if you're not here in the UK.
00:04:03.600 --> 00:04:14.880 Pat Duckworth: Especially starters that indicates the closest and trances for drugs that are in short supply, such as Easter Joel and estrogen only form of HR team, which seems to be very popular.
00:04:15.750 --> 00:04:21.150 Pat Duckworth: And FEM seven seek why patches I probably haven't heard that right.
00:04:22.050 --> 00:04:33.600 Pat Duckworth: There might be some difference variation absorption, you might get a little bit more or less but it's not going to be a huge difference, he said, in the interim that's what I encourage people to do so.
00:04:34.200 --> 00:04:50.040 Pat Duckworth: Asking for a perhaps a different form of hrt if yours isn't available, rather than borrowing off of somebody else or going on the black market if you go to the British Medical society website, if you just tap British Medical society into your.
00:04:51.690 --> 00:04:56.580 Pat Duckworth: Google, if you will see, they do provide lots of advice on this.
00:04:58.020 --> 00:04:58.710 Pat Duckworth: And then.
00:05:00.270 --> 00:05:02.550 Pat Duckworth: Going back now to the divina McCall.
00:05:03.810 --> 00:05:11.010 Pat Duckworth: documentary so she did a documentary last year called sex myths and the menopause and as a result of it, there was.
00:05:11.700 --> 00:05:23.370 Pat Duckworth: A huge engagement in this conversation about menopause and for much younger women, which is really good, because if you come into this younger if you come into the subject younger, you can be more prepared.
00:05:23.700 --> 00:05:36.570 Pat Duckworth: Or you can understand more about what's going on, so this week on Channel four, there was another documentary called sex work and menopause site touched on the whole menopause in the workplace issue.
00:05:38.010 --> 00:05:50.430 Pat Duckworth: It was reported in most of the big newspapers defeat them a call so she feared she had a brain tumor or outsiders after menopause symptoms caused her to make mistake on TV.
00:05:50.880 --> 00:06:04.710 Pat Duckworth: And I met so she felt aged and embarrassed so she started having symptoms, in her early 40s, which is why I think it struck such a chord with a bigger group of women don't realize that you can start experiencing symptoms.
00:06:05.160 --> 00:06:13.230 Pat Duckworth: years before your periods actually start, and this is called perimenopause the years leading up to menopause or you're still having periods.
00:06:13.740 --> 00:06:22.920 Pat Duckworth: She says i've been in television at that point for 20 years I really knew what I was doing I was extremely proud of my list making my logistical practicality.
00:06:23.220 --> 00:06:34.200 Pat Duckworth: And the fact that I could multitask somebody asked me if I was Okay, because I messed up on a TV program and I said yes and when she shut the door and went away I burst into tears.
00:06:34.980 --> 00:06:42.180 Pat Duckworth: Because I thought i'm not Okay, I think i've got a brain tumor tumor or of the outsiders, or something helped me.
00:06:42.840 --> 00:06:49.710 Pat Duckworth: I started with symptoms around 10 years ago after suffering brain fog and anxiety extent I thought I was losing my mind.
00:06:50.070 --> 00:06:58.320 Pat Duckworth: In my mid 40s I was considered by my doctor to be too young to be menopausal so I took the decision to consult a gynecologist.
00:06:58.620 --> 00:07:05.940 Pat Duckworth: So if you're in your early 40s and you're experiencing symptoms and he goes the doctor and the doctor says you're way too young.
00:07:06.360 --> 00:07:17.790 Pat Duckworth: you're not way too young, you can start getting sentence in your 40s so don't get fobbed off if you think this is your medicals you have to be ready to advocate for yourself.
00:07:18.330 --> 00:07:23.250 Pat Duckworth: If you listen to this program regularly, you know that word advocate comes up a lot.
00:07:24.090 --> 00:07:34.170 Pat Duckworth: And then the British Medical society commented on the program since the British Medical society welcomes the further high profile discussions about menopause and the role of hrt.
00:07:34.650 --> 00:07:45.450 Pat Duckworth: The minerals transition can have a significant impact on many women with more than 75 cent experiencing menopausal symptoms and a quarter describing this incidence of severe.
00:07:45.930 --> 00:07:51.060 Pat Duckworth: A third experience long term symptoms, which may last as much as seven years or more.
00:07:51.600 --> 00:07:57.060 Pat Duckworth: All women should be able to access advice on how they can optimize their menopause transition.
00:07:57.450 --> 00:08:05.250 Pat Duckworth: There should be an individualized approach and X in assessing menopausal women, with particular reference to lifestyle yes.
00:08:05.610 --> 00:08:16.800 Pat Duckworth: diet modification, yes, as well as discussion of the role of interventions, including hrt the indications for prescribing hrt include treatment and menopausal symptoms.
00:08:17.190 --> 00:08:23.040 Pat Duckworth: Premature ovarian insufficiency so that means that you don't medical start getting symptoms early.
00:08:23.970 --> 00:08:32.400 Pat Duckworth: Early menopause and the prevention and treatment of osteoporosis women should be reassured that hrt is unlikely to increase the risk of dementia.
00:08:32.640 --> 00:08:47.430 Pat Duckworth: or to have a detrimental effect on cognitive function and women initiating hrt before the age of 65 what the program was saying is, if you start hrt earlier so in so before you actually go into medicals.
00:08:47.880 --> 00:08:58.800 Pat Duckworth: Then it has a protective function really important so The next item is specifically because of my colleague, who is here on the call today.
00:08:59.370 --> 00:09:13.740 Pat Duckworth: Because I think this is really pulled medical centers forcing one in 10 women in the UK to quit their job survey this comes from sky.com and it is partly based on the information that channel for got from this survey.
00:09:14.370 --> 00:09:23.670 Pat Duckworth: The survey of more than 4000 UK women aged 45 to 55 who are currently or have previously experienced the perimenopause or menopause.
00:09:24.180 --> 00:09:36.570 Pat Duckworth: found that 14% of women had reduce their hours at work so they've gone to part time and 8% had not applied for promotion so they're working at the low their capacity.
00:09:37.050 --> 00:09:43.350 Pat Duckworth: Research was supported by the full set society which has produced a report called multiples and the workplace.
00:09:43.710 --> 00:09:54.420 Pat Duckworth: Meanwhile, the report found that 45% of women surveyed said they've not talked to someone at their GP practice about menopause or even among women with five or more severe.
00:09:55.380 --> 00:10:06.720 Pat Duckworth: Severe symptoms 29% had not spoken to the GP or us some 31% of women surveyed agreed that it took many appointments for their GP to realize.
00:10:07.140 --> 00:10:18.030 Pat Duckworth: They were experiencing the multiples of perimenopause just 1300 percent of women who spoke to GP on those said they've been offered hrt once they were diagnosed with men and pause.
00:10:18.510 --> 00:10:26.100 Pat Duckworth: The force it societies Chief Executive said menopausal women are experiencing unnecessary misery and it's the national scandal.
00:10:26.370 --> 00:10:33.240 Pat Duckworth: From waiting too long for the right care to uniforms that cause unnecessary discomfort women are being badly let down.
00:10:33.660 --> 00:10:40.110 Pat Duckworth: Too often menopausal symptoms have been dismissed as a joke and hrt has been labeled a lifestyle drug.
00:10:40.500 --> 00:10:52.020 Pat Duckworth: With 44% of women facing three or more severe symptoms our research helps to dispel that nonsense faced with that misinformation, is it any wonder that only half of women.
00:10:52.560 --> 00:11:12.780 Pat Duckworth: are even seeking help from their GP I know it's ridiculous isn't it Elizabeth so those figures about 14% of women going working part time 8% not applying for promotion 10% actually leaving their jobs.
00:11:13.800 --> 00:11:16.470 Pat Duckworth: Why, they need to think about investing isn't is.
00:11:16.800 --> 00:11:17.610 Elizabeth Pearson - Simple Successful Stocks: It is pat.
00:11:17.640 --> 00:11:18.450 Yes.
00:11:20.790 --> 00:11:36.810 Pat Duckworth: Well, I mean a lot of cystic, I quote, is that there is a 16% in the UK, a 16% gender pay gap so women generally earning 16% less than the agenda pension gap 40%.
00:11:36.870 --> 00:11:41.700 Elizabeth Pearson - Simple Successful Stocks: yeah I know it's huge really, really big yeah yeah noise.
00:11:42.030 --> 00:11:48.960 Pat Duckworth: And women don't think about that, when they're going to work part time I mean in that moment, the most serious thing.
00:11:49.500 --> 00:12:01.410 Pat Duckworth: is actually getting more sleep feeling more comfortable dealing with their symptoms and they are not even I bet you none of them tell their employer why they want to work part time.
00:12:02.310 --> 00:12:08.190 Pat Duckworth: And then you know they've got less going into their pension they're not earning as much in the moment.
00:12:08.340 --> 00:12:08.520 Pat Duckworth: By.
00:12:08.910 --> 00:12:12.780 Elizabeth Pearson - Simple Successful Stocks: Any savings yeah I know it's tricky.
00:12:13.020 --> 00:12:31.530 Pat Duckworth: i've started to bring this into the presentations that I do to organizations to women's groups to individual women I get them talking about this financial implication because I just think it is really neglected, but you know that, but when I did.
00:12:32.160 --> 00:12:33.330 Elizabeth Pearson - Simple Successful Stocks: I did, yes.
00:12:35.580 --> 00:12:38.340 Pat Duckworth: So you're going to be sharing of reinvesting juice.
00:12:39.180 --> 00:12:39.600 Elizabeth Pearson - Simple Successful Stocks: I am.
00:12:39.630 --> 00:12:40.110 Yes.
00:12:41.220 --> 00:12:45.600 Pat Duckworth: So, are there any statistics for how many women actually invest.
00:12:46.500 --> 00:12:56.820 Elizabeth Pearson - Simple Successful Stocks: No, no, there aren't and i've never come across them actually how that how yeah the actual numbers All I know is that were few and far between and our male counterparts.
00:12:57.090 --> 00:13:04.860 Elizabeth Pearson - Simple Successful Stocks: yeah yeah so but that you know that can grow that can change and actually what a lot of people don't realize women don't realize that if you have a pension.
00:13:05.130 --> 00:13:12.270 Elizabeth Pearson - Simple Successful Stocks: any type of pension, you are already invested in the stock market so you've already bought began your investing career as I like to say.
00:13:13.290 --> 00:13:24.510 Elizabeth Pearson - Simple Successful Stocks: So you can you can have a you know, a handle on that you can you can understand it, you can change what you invested into more buying options so lots of people if you have a pension, you are at any invest in the stock market.
00:13:25.890 --> 00:13:27.750 Pat Duckworth: Well i'm very glad that I have.
00:13:30.690 --> 00:13:43.350 Pat Duckworth: enables me to do what I do often when I am on podcast I get asked that question, what would you say to your 18 year old self and my answer to that is.
00:13:43.860 --> 00:13:57.480 Pat Duckworth: keep going you're doing a brilliant job because I won't be able to do what I do today, if my 18 year old self hadn't made some really good decisions it's normally the last question Elizabeth but what would you say to your 18 year olds.
00:13:57.840 --> 00:14:12.780 Elizabeth Pearson - Simple Successful Stocks: um I would say, learn more about money, invest in your financial education, because with that knowledge and confidence, then you could I could have made different financial or made financial choices sooner and then created more stability for myself so yeah.
00:14:12.840 --> 00:14:16.020 Pat Duckworth: And being even more amazing when you are today.
00:14:18.510 --> 00:14:28.020 Pat Duckworth: So join us after the break when Elizabeth will be telling us more about her journey into investing before she tells us my top tips we can't wait for both see you after the break.
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00:16:40.980 --> 00:16:49.050 Pat Duckworth: Welcome back to the hot women rock radio show empowering women leaders at menopause when my guest today is Elizabeth Pearson.
00:16:49.440 --> 00:17:01.410 Pat Duckworth: So Elizabeth works with independent women who wants to understand money and get it working for them, yet struggle to know where and who to trust I think that's really important is that fear around it.
00:17:02.010 --> 00:17:08.610 Pat Duckworth: She gives them knowledge and confidence to invest in the stock market themselves and take charge of their financial future.
00:17:08.970 --> 00:17:16.470 Pat Duckworth: Elizabeth started investing more working as an architect learning from her diet as a way of sharing something he was passionate about.
00:17:16.800 --> 00:17:32.280 Pat Duckworth: She discovered, it was possible to get her money working for her alongside her job as a financial educator she now makes investing simple sparkly we like a bit of sparkly and sustainable for others, welcome to the show Elizabeth.
00:17:32.790 --> 00:17:34.260 Elizabeth Pearson - Simple Successful Stocks: Thank you very much for having me back.
00:17:35.070 --> 00:17:36.990 Pat Duckworth: we've never met in person, but we've had.
00:17:36.990 --> 00:17:38.430 Pat Duckworth: Enough sunlight.
00:17:39.480 --> 00:17:41.070 Elizabeth Pearson - Simple Successful Stocks: Yes, I had yeah.
00:17:41.460 --> 00:17:46.980 Pat Duckworth: So you didn't start out as an investor you started in architecture.
00:17:47.130 --> 00:17:49.350 Pat Duckworth: yeah what took you into architecture to.
00:17:49.350 --> 00:17:49.980 Pat Duckworth: start with.
00:17:50.220 --> 00:17:54.990 Elizabeth Pearson - Simple Successful Stocks: um well, I suppose it it actually wasn't a very well informed decision.
00:17:55.020 --> 00:17:56.580 Elizabeth Pearson - Simple Successful Stocks: I had to write a levels.
00:17:56.610 --> 00:18:04.980 Elizabeth Pearson - Simple Successful Stocks: I mean, like most people I launched myself into I had my a levels, and I was, and I was kind of had a friend who did it, I was studying with and.
00:18:05.700 --> 00:18:17.160 Elizabeth Pearson - Simple Successful Stocks: My mom noticed that i'd been affected by my you know the building the school buildings, I was in which weren't that great so, then I went off and became an architect, and then realized I didn't really like it at all.
00:18:20.130 --> 00:18:22.950 Pat Duckworth: and your dad was really a Kenyan first Dorothy.
00:18:23.370 --> 00:18:31.890 Elizabeth Pearson - Simple Successful Stocks: Well, my dad so I Yes, he keep so there's some years ago now, he was sold some not very good financial products.
00:18:32.250 --> 00:18:42.420 Elizabeth Pearson - Simple Successful Stocks: And he decided that he was he had actually could do better than the products, he was sold and when my data size is going to learn something is brilliant so he said about teaching himself, how to invest, he was actually.
00:18:42.870 --> 00:18:51.300 Elizabeth Pearson - Simple Successful Stocks: A university academic, so the second time around, he invested with a lot more knowledge, he was 58 and he did you know, he did really well and I thought well.
00:18:51.570 --> 00:18:59.280 Elizabeth Pearson - Simple Successful Stocks: It really wasn't about so much sort of the money, I thought, but I thought this could be really helpful in terms of financial things it was really about.
00:18:59.610 --> 00:19:08.970 Elizabeth Pearson - Simple Successful Stocks: You know how can I learn something, how can we, you know he can teach me something that he knows, and it was been brilliant you know we would go off to investor shows together and talk about money, it was just really.
00:19:09.300 --> 00:19:21.660 Elizabeth Pearson - Simple Successful Stocks: It was great because I think the thing is, especially in the UK is that we just don't talk about money it's a really big taboo subject, and can also be quite dull and dreary so it was yes, it was had those two benefits.
00:19:22.410 --> 00:19:30.780 Pat Duckworth: yeah you know when I read that about your dad I was thinking that my dad and we you know, we were not a prosperous family.
00:19:31.950 --> 00:19:43.200 Pat Duckworth: He had some money and he decided to invest in what was called a unit trust at the time when you had that basket of investments and you invested in the basket, rather than the individual investments.
00:19:43.380 --> 00:19:47.640 Pat Duckworth: yeah and he lost his money and so his view of it all was.
00:19:47.700 --> 00:19:57.720 Pat Duckworth: yeah very negative and these experiences we have when we're young yeah really informal so we create some of the fear, have you found that with other women.
00:19:58.080 --> 00:20:06.240 Elizabeth Pearson - Simple Successful Stocks: Absolutely, I mean, I think I think the thing about investing I think that really gets in the way for women is having the knowledge and confidence to do it.
00:20:06.750 --> 00:20:17.280 Elizabeth Pearson - Simple Successful Stocks: And, and there are also lots of fears for women and men there's this firstly, we think that we have to have a lot of money to start like big piles of money when really we don't you know you can start with.
00:20:17.790 --> 00:20:20.130 Elizabeth Pearson - Simple Successful Stocks: 50 pounds, you know to buy your first investment.
00:20:21.000 --> 00:20:24.750 Elizabeth Pearson - Simple Successful Stocks: people think that we have to have you know you have to like spend all your time.
00:20:25.050 --> 00:20:38.430 Elizabeth Pearson - Simple Successful Stocks: staring at all these screens or going up and down, you know when actually i'd much rather be outside that is also not true, you can the idea is you set up these investments these assets to work for you, so you can then go out and live your life and have a great time.
00:20:39.660 --> 00:20:55.110 Elizabeth Pearson - Simple Successful Stocks: So yes, and it can be done, alongside you know you're already you know you're busy like your work, your family and yeah and there is that big people think they have to be really good at numbers which also isn't true it's just about understanding a few simple principles and applying those.
00:20:56.340 --> 00:20:58.830 Pat Duckworth: And then another big 100 hang on.
00:21:00.180 --> 00:21:04.110 Pat Duckworth: yeah cuz I was afraid I kind of sent you down a different path.
00:21:04.140 --> 00:21:06.990 Pat Duckworth: yeah I had to finish learning about how you became.
00:21:08.310 --> 00:21:21.930 Pat Duckworth: No, no, I my fault completely because I started telling you about my dad so how did you make that transition then from being an architect, did you go into full time investing.
00:21:23.190 --> 00:21:23.910 Pat Duckworth: What did you do.
00:21:24.120 --> 00:21:32.010 Elizabeth Pearson - Simple Successful Stocks: So basically I I learned some I you know I look gotta fight learned about investing for my dad and then I save some money.
00:21:32.370 --> 00:21:42.780 Elizabeth Pearson - Simple Successful Stocks: And then my lunch out work I bought you know rabbit in my pocket job as I called it, I bought my first investment, and I remember sitting in my lunch hour in the on the computer in the summer and I went I press the button.
00:21:47.430 --> 00:21:53.040 Elizabeth Pearson - Simple Successful Stocks: I didn't die of course it didn't it was just unfamiliar it was uncomfortable all those things, and so that's how.
00:21:53.340 --> 00:21:59.280 Elizabeth Pearson - Simple Successful Stocks: I began, and because what was really good, I think, is what I learned was the thing about having a really simple strategy.
00:21:59.550 --> 00:22:07.560 Elizabeth Pearson - Simple Successful Stocks: And then, a following it so that I would just once a year now, a bit more often set aside a certain amount of time, not a huge amount and sit down and do it.
00:22:08.490 --> 00:22:16.890 Elizabeth Pearson - Simple Successful Stocks: And because I was so in a way, I had such a had so many other things I was doing as qualified to be an architect had a job I see my boyfriend all those kind of things.
00:22:17.340 --> 00:22:28.200 Elizabeth Pearson - Simple Successful Stocks: I you know I just did it then, and then I didn't get pulled into like looking at the looking at how they were doing and then going up and down I just really wasn't you know wasn't that interested and that.
00:22:28.500 --> 00:22:37.950 Elizabeth Pearson - Simple Successful Stocks: That thing about not being not been personally involved emotionally involved in in how my investments are doing that really stood me in good stead and.
00:22:39.150 --> 00:22:39.480 Elizabeth Pearson - Simple Successful Stocks: alone.
00:22:40.230 --> 00:22:53.310 Pat Duckworth: I have a dear friend called Judy filmmaker, who is a foreign exchange trader and she talks about how trading is the gift that keeps on giving because it reveals things to you about yourself.
00:22:53.460 --> 00:23:01.470 Pat Duckworth: yeah you know about your fears and how you deal with them and how you deal with stresses so, but we will go on to talk about.
00:23:02.100 --> 00:23:04.200 Pat Duckworth: I don't going to go down that alley again so.
00:23:05.640 --> 00:23:07.680 Pat Duckworth: What happened next you started investing.
00:23:07.680 --> 00:23:10.770 Elizabeth Pearson - Simple Successful Stocks: So I started to invest, I was doing a little, so my job, and then.
00:23:11.880 --> 00:23:20.130 Elizabeth Pearson - Simple Successful Stocks: So, then, I basically had some Yes, some time between jobs, a friend of mine suggested running some classes teaching other people what they knew what I knew.
00:23:20.370 --> 00:23:29.340 Elizabeth Pearson - Simple Successful Stocks: which I did some friends came and is my little guinea pig so what had a great time so, then I started to teach people about investing alongside my job, and then it was only then.
00:23:29.910 --> 00:23:37.500 Elizabeth Pearson - Simple Successful Stocks: That I sort of realized that there was this big gap in sort of female investors in financial education and.
00:23:37.860 --> 00:23:50.310 Elizabeth Pearson - Simple Successful Stocks: And it's really important to me equality in all kinds of levels is important so that's you know that's why I focus on teaching in particular women about investing and about money and that giving them that knowledge and competence.
00:23:50.640 --> 00:23:53.190 Pat Duckworth: So when did it become a full time thing for you.
00:23:53.430 --> 00:23:59.670 Elizabeth Pearson - Simple Successful Stocks: yeah it became all time five five years ago now, so i've been doing this for five years yeah yeah it's great.
00:24:00.420 --> 00:24:09.450 Pat Duckworth: Fantastic and when you say you got women together, I mean I know people who are part of investment clubs your investment groups.
00:24:09.810 --> 00:24:12.870 Pat Duckworth: Is that a good way to start or.
00:24:13.050 --> 00:24:18.870 Elizabeth Pearson - Simple Successful Stocks: can be absolutely it can be I think anything that starts but think about investment clubs, as you put in.
00:24:19.920 --> 00:24:32.160 Elizabeth Pearson - Simple Successful Stocks: Like a small amount of money and you talk about money and you make fun of decisions about what you're going to invest in which is, which is one way of doing it you don't have to do that it's a it's a conversation it's not something I did myself.
00:24:33.360 --> 00:24:47.310 Elizabeth Pearson - Simple Successful Stocks: I think I was lucky in that I had my dad he was somebody I trusted So when I got stuck I just bring him up and we'd have a chat, but I think that you know in fact that sort of social side of it, somebody to talk to check things out is you know that's one way of doing it yeah.
00:24:47.370 --> 00:24:51.930 Pat Duckworth: Do you think, women have a different attitude through inverse well, let me.
00:24:51.960 --> 00:24:53.760 Pat Duckworth: roll back again so.
00:24:55.020 --> 00:25:00.750 Pat Duckworth: Women are really good at budgeting, you know most women are in control of the household budget.
00:25:00.840 --> 00:25:01.110 Elizabeth Pearson - Simple Successful Stocks: yeah.
00:25:01.530 --> 00:25:04.740 Pat Duckworth: they're really good at savings know holidays.
00:25:06.300 --> 00:25:10.770 Pat Duckworth: And yet they don't get involved in this longer term investing.
00:25:10.980 --> 00:25:11.880 Elizabeth Pearson - Simple Successful Stocks: yeah it's this.
00:25:11.970 --> 00:25:13.770 Pat Duckworth: weird disconnect isn't there.
00:25:14.010 --> 00:25:20.700 Elizabeth Pearson - Simple Successful Stocks: It is a way disconnect it's not because women are not any good at it, though they are just as good If not you know.
00:25:21.450 --> 00:25:39.900 Elizabeth Pearson - Simple Successful Stocks: There is a you know research that shows that they do perform better they do get a better return if the disconnect is the gap between having that we want to understand it or before we begin and then that becomes very overwhelming daunting that's full of jargon can look so dreary.
00:25:41.250 --> 00:25:47.670 Elizabeth Pearson - Simple Successful Stocks: You know, and then it's like oh it's just like, but the word investing and Google and it's like Oh, you know, please so that's that's the problem.
00:25:48.810 --> 00:25:49.140 Elizabeth Pearson - Simple Successful Stocks: yeah.
00:25:50.190 --> 00:25:58.590 Pat Duckworth: And that's that's one of our problems in all of our careers isn't it, but we never go through things unless we know absolutely everything about them.
00:25:58.770 --> 00:26:01.020 Pat Duckworth: yeah men will take a pump things.
00:26:01.020 --> 00:26:02.940 Pat Duckworth: So for jobs that they perhaps.
00:26:02.970 --> 00:26:06.450 Pat Duckworth: Not quite qualified for the assume that they would learn.
00:26:06.930 --> 00:26:13.410 Pat Duckworth: were three go well i'm not going for it, unless I know I can do it, what you're saying it seems like the same with investing.
00:26:13.620 --> 00:26:18.360 Pat Duckworth: As I know everything about it i'm not going to take that risk.
00:26:18.420 --> 00:26:27.960 Elizabeth Pearson - Simple Successful Stocks: yeah yeah which is yes, I think i've got here that expertise happened to have all the expertise beforehand, rather than just knowing enough essentials, before making a considered.
00:26:29.190 --> 00:26:29.760 Elizabeth Pearson - Simple Successful Stocks: investment.
00:26:31.440 --> 00:26:45.150 Pat Duckworth: And I think I don't know if there's a difference as well, but men get really fueled up on the adrenaline of investing and the fear of it, you know and sometimes they might make bad decisions because of being fueled by.
00:26:45.510 --> 00:26:55.080 Pat Duckworth: The fear of loss or the fear of missing out or any of those other fears even I suspect women worry about being successful.
00:26:56.730 --> 00:27:00.810 Elizabeth Pearson - Simple Successful Stocks: I don't know, I think that that fear, I mean i've i've had more, I think.
00:27:02.820 --> 00:27:05.490 Elizabeth Pearson - Simple Successful Stocks: yeah I think i've spoken to more men who.
00:27:06.660 --> 00:27:13.830 Elizabeth Pearson - Simple Successful Stocks: find it difficult not to get emotional about their investments, I don't I don't find that so much with women but and that actually that's sort of.
00:27:14.250 --> 00:27:25.080 Elizabeth Pearson - Simple Successful Stocks: Being aware of the risk doing it for the long term, also doing it for a sort of a bigger purpose, you know their families, their futures the planet, that really kind of holds them kind of steady in all that.
00:27:25.830 --> 00:27:37.590 Elizabeth Pearson - Simple Successful Stocks: And I always say to people, you know don't invest money you can't afford to lose you know you put aside certain things, and then you invest that money, so you don't you know if you're spending any sleeps nice about it, you know just don't do it it's just not worth it, you know.
00:27:37.830 --> 00:27:45.030 Pat Duckworth: So yeah yeah absolutely, and I mean the title of the show is around it's never too late to start.
00:27:45.030 --> 00:27:46.260 Elizabeth Pearson - Simple Successful Stocks: Investing yeah.
00:27:46.560 --> 00:27:56.100 Pat Duckworth: For women at mid life if you're in your 40s I cause i'm going to live to 120 i'm still middle aged as far as i'm concerned.
00:27:57.780 --> 00:27:59.370 Pat Duckworth: i'm not sure when mid mid life.
00:28:02.430 --> 00:28:03.900 Pat Duckworth: But it's not too late to.
00:28:03.900 --> 00:28:18.870 Elizabeth Pearson - Simple Successful Stocks: snow, no, no, I mean I always I always get my dad as a reissuing sample so he invested $1,000 actually in his 20s and lost everything is second kind of investing career he started at 58 and he's done brilliantly so it's you know.
00:28:19.350 --> 00:28:21.450 Pat Duckworth: middle aged when he was totally middle aged.
00:28:22.710 --> 00:28:36.030 Elizabeth Pearson - Simple Successful Stocks: middle aged yeah so I started a bit younger when I was 36 and it's good to start as early as you can, and you know it's still never too late to learn about money and have this kind of yeah get it to work for you never too late.
00:28:36.510 --> 00:28:44.610 Pat Duckworth: yeah I think conferencing, some of those fears around money i'm not sure why money is so scary I think it's.
00:28:45.300 --> 00:28:55.320 Pat Duckworth: This weird energy around it probably comes from when we were younger and were told that people who've got a lot of money, a bad people poor people are bad people you know.
00:28:55.710 --> 00:29:04.470 Pat Duckworth: And people are just people and there's good ones and bad ones it doesn't matter how much money they've got or how little money they've got it's just people.
00:29:05.310 --> 00:29:07.860 Pat Duckworth: When it comes to it we're all just people yeah.
00:29:07.950 --> 00:29:11.160 Elizabeth Pearson - Simple Successful Stocks: And I think I mean you're right the money thing about money, as we learn we have.
00:29:11.580 --> 00:29:20.040 Elizabeth Pearson - Simple Successful Stocks: Like a relationship to money from our you know the the what we see around us, the kind of behaviors we see or pick up the habits, we get into and it's.
00:29:20.430 --> 00:29:34.410 Elizabeth Pearson - Simple Successful Stocks: it's money in the end is it's it's an energy that's what it is and it's Am I do I want to learn about this energy harness this energy thought, for you know for for my for my dude or you know better.
00:29:35.190 --> 00:29:37.080 Elizabeth Pearson - Simple Successful Stocks: yeah there's things.
00:29:37.230 --> 00:29:44.940 Pat Duckworth: yeah for a good place to go to the break and I promise you, when we get back i'll let Elizabeth share her top see you after the break.
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00:31:47.610 --> 00:32:00.120 Pat Duckworth: Welcome back to the hot women rock radio show empowering women leaders at medicals and my guest today is Elizabeth Pearson, who is a financial educator I love a bit of financial education.
00:32:02.340 --> 00:32:06.210 Pat Duckworth: And she's also very funny if you have a conversation with it so.
00:32:08.160 --> 00:32:13.710 Pat Duckworth: Elizabeth let's get back to it, so the best time to start investing was like yesterday.
00:32:13.770 --> 00:32:15.090 Elizabeth Pearson - Simple Successful Stocks: And it's not it's now.
00:32:15.990 --> 00:32:18.360 Elizabeth Pearson - Simple Successful Stocks: it's now yeah the moment now.
00:32:18.960 --> 00:32:20.250 Pat Duckworth: Like planting a tree is.
00:32:21.540 --> 00:32:22.620 Pat Duckworth: A few years ago.
00:32:22.650 --> 00:32:23.070 Elizabeth Pearson - Simple Successful Stocks: But yeah.
00:32:23.610 --> 00:32:26.370 Pat Duckworth: We talked time travel yet so now I would be good.
00:32:27.090 --> 00:32:28.620 Elizabeth Pearson - Simple Successful Stocks: yeah now it's always good yeah.
00:32:29.370 --> 00:32:30.810 Pat Duckworth: And where do you get started.
00:32:32.490 --> 00:32:39.600 Elizabeth Pearson - Simple Successful Stocks: hey So the first thing to do so, I was saying earlier about having a few financial things in place before you start investing so.
00:32:40.080 --> 00:32:49.440 Elizabeth Pearson - Simple Successful Stocks: The first thing I would say to people, and this is about having your money to provide and protect for you and not investing money that you can't afford to lose because I don't want to be spending any sleepless nights so.
00:32:49.860 --> 00:32:56.880 Elizabeth Pearson - Simple Successful Stocks: putting aside, so, as you said, women are good at saving so putting aside 1000 pounds of thousand dollars, whatever.
00:32:57.180 --> 00:33:11.580 Elizabeth Pearson - Simple Successful Stocks: In the savings account so that is your like expected unexpected events money, so if the dishwasher blows up or your cat needs an emergency opposite opposite, you know operation you've got that money to do it and it's not really kind of you know, painful.
00:33:12.240 --> 00:33:20.010 Elizabeth Pearson - Simple Successful Stocks: Then it's a really good idea to have something called a like a cash safety net, so this is again this is saving so you know we're good at saving.
00:33:21.060 --> 00:33:28.770 Elizabeth Pearson - Simple Successful Stocks: is putting aside in an easily accessible place that money that's like your basic level of income sort of survival income.
00:33:29.280 --> 00:33:41.310 Elizabeth Pearson - Simple Successful Stocks: multiply by between three to nine months, depending on your level of sort of security really so again, you leave that as a savings and then it's there for you, if you lose your job there's a pandemic, you know something like.
00:33:42.450 --> 00:33:49.380 Elizabeth Pearson - Simple Successful Stocks: You know, so that then it's a really good idea to pay off your consumer debt so, for example.
00:33:51.030 --> 00:34:04.590 Elizabeth Pearson - Simple Successful Stocks: Investing is about creating assets, the things about money flowing towards you, whereas consumer debt credit card debt is our liability so you're you know that money is flowing away from you at like 80 90% so to pay off that.
00:34:05.100 --> 00:34:09.750 Elizabeth Pearson - Simple Successful Stocks: Then, once you've got those things in place, you can start getting your money to grow.
00:34:11.280 --> 00:34:19.440 Elizabeth Pearson - Simple Successful Stocks: And so there's you know a number of different sort of steps which, like I can't go into all the detail right now but it's it's quite it's it's really about.
00:34:19.710 --> 00:34:31.830 Elizabeth Pearson - Simple Successful Stocks: opening a sort of an account a place where you want to invest, which is online you put some money into it, which is, as I said, could be as little as $50 or 50 pounds and then you buy something with it.
00:34:32.250 --> 00:34:39.840 Elizabeth Pearson - Simple Successful Stocks: And if you're starting investing you want to buy something called an index tracker fund, which is a very low cost low risk investment.
00:34:40.200 --> 00:34:49.350 Elizabeth Pearson - Simple Successful Stocks: And then it's great if you can pay into that every month, you know sort of 10% of your net income and then you just leave it alone don't twiddle don't.
00:34:49.770 --> 00:34:58.470 Elizabeth Pearson - Simple Successful Stocks: tweak don't panic don't sell it you just leave it alone, because this is a long term thing you know five or 10 years it's not a quick fix but investing is a long term thing.
00:34:58.920 --> 00:35:04.590 Pat Duckworth: Because the best funds tend to be those that don't really do anything they just sit and work.
00:35:04.860 --> 00:35:14.430 Elizabeth Pearson - Simple Successful Stocks: yeah yeah so they so you basically have these things, called index trackers and what you do it's a it's a fund it's a pool of money you put your money in and you're 50 pounds you're.
00:35:15.060 --> 00:35:23.970 Elizabeth Pearson - Simple Successful Stocks: $50 will be used to say it was tracking the UK stock market that pot of money and these funds can have a lot of money in would be used by.
00:35:24.240 --> 00:35:33.810 Elizabeth Pearson - Simple Successful Stocks: Five or 600 different companies and why that's brilliant is that you're then spreading your risk in terms of a lot of different companies and then what you're doing is you're following.
00:35:34.230 --> 00:35:39.930 Elizabeth Pearson - Simple Successful Stocks: How the stock market grows over time, so it does go up and down all the time, like at the beginning of the end of it.
00:35:41.010 --> 00:35:46.410 Elizabeth Pearson - Simple Successful Stocks: And then just with the recent sort of invasion of Ukraine with Russia again it sort of goes down.
00:35:46.800 --> 00:35:53.940 Elizabeth Pearson - Simple Successful Stocks: In the long term, though it's going in an upward direction, and you have this force of compounding working for you, which is.
00:35:54.240 --> 00:35:59.610 Elizabeth Pearson - Simple Successful Stocks: about the money that you make making more money, so you make a bit of money and then that money makes more money.
00:35:59.880 --> 00:36:07.200 Elizabeth Pearson - Simple Successful Stocks: And it's it's it's not it sounds really boring, except that Einstein called it, the eighth wonder of the world and it and it really is it so.
00:36:07.470 --> 00:36:15.540 Elizabeth Pearson - Simple Successful Stocks: Your investment for a while it looked like nothing is happening, and then it would like slowly begin to sort of take off and that's what you want to be harnessing.
00:36:16.710 --> 00:36:17.340 Elizabeth Pearson - Simple Successful Stocks: With investing.
00:36:17.880 --> 00:36:25.140 Pat Duckworth: So i've had lots of index tracker farms that are the ones that are more green than one for yeah I don't know.
00:36:26.910 --> 00:36:34.830 Elizabeth Pearson - Simple Successful Stocks: There are a lot of yeah there are a lot of them and and yeah there were there were lots of different funds and a lot of different index funds.
00:36:35.880 --> 00:36:43.530 Elizabeth Pearson - Simple Successful Stocks: And what you want to do is have a kind of spread of them like one of them is in the UK, one of them is in, you know that you know America is kind of different kind of spread.
00:36:44.880 --> 00:36:54.270 Elizabeth Pearson - Simple Successful Stocks: And, and there are now coming through a lot more one green it's either called green or sustainable or MSG is also another term.
00:36:54.690 --> 00:37:07.440 Elizabeth Pearson - Simple Successful Stocks: And what they're doing is they're they're sort of what they what they're investing is is is is more sort of in sort of a benefit to the planet so, for example, they might be screening out.
00:37:07.920 --> 00:37:16.050 Elizabeth Pearson - Simple Successful Stocks: companies that are investing in tobacco or Defense or or you can also buy ones that are investing in clean energy or.
00:37:17.340 --> 00:37:31.650 Elizabeth Pearson - Simple Successful Stocks: What other kinds of things, things are making an impact so there's lots of different ways, you can have that really sort of invest in a way that is in alignment with your values or you can make a much better go with it than just putting into anything.
00:37:32.640 --> 00:37:37.260 Pat Duckworth: i'm guessing that if you put investing into Google you're gonna get a lot of hits.
00:37:37.290 --> 00:37:42.180 Pat Duckworth: yeah so where where's a good place to start apart from talking to you.
00:37:42.780 --> 00:37:43.800 Elizabeth Pearson - Simple Successful Stocks: Yes, of course, always.
00:37:43.800 --> 00:37:44.280 Pat Duckworth: Just a nice.
00:37:44.610 --> 00:37:45.120 Pat Duckworth: place to.
00:37:45.270 --> 00:37:47.700 Elizabeth Pearson - Simple Successful Stocks: OK so i'll give you a website and a book.
00:37:47.820 --> 00:37:51.480 Elizabeth Pearson - Simple Successful Stocks: And so there's a way in the UK there's a really good website called boring money.
00:37:52.680 --> 00:38:01.050 Elizabeth Pearson - Simple Successful Stocks: I know it's great it's so run by a woman called holly MCI and she's got great resources on investing and funds and things like that, and how to set yourself up.
00:38:01.470 --> 00:38:08.010 Elizabeth Pearson - Simple Successful Stocks: a really good book not written by me I haven't written a book yet it's a book called and by Ann Wilson she's called the wealth chef.
00:38:08.580 --> 00:38:16.170 Elizabeth Pearson - Simple Successful Stocks: And she looks at money in likely we're talking about how we think about money, she talks about money in the account all kinds of things it's about investing.
00:38:16.500 --> 00:38:22.410 Elizabeth Pearson - Simple Successful Stocks: But it's also about saving about paying off debts sort of money in the bigger in a bigger sense.
00:38:22.890 --> 00:38:33.270 Elizabeth Pearson - Simple Successful Stocks: But what you don't need to do is you don't need to read the Financial Times you don't need to it's about sort of getting the essence of it for for yourself and then kind of going ahead with it so.
00:38:33.660 --> 00:38:43.770 Elizabeth Pearson - Simple Successful Stocks: and choose what it feels right with you, you know, if you like, listening to podcasts do that you like reading do that find a format that is makes it more you know, makes it digestible and even yummy.
00:38:45.900 --> 00:38:48.270 Pat Duckworth: Nice writing book and we should.
00:38:54.480 --> 00:38:55.350 Pat Duckworth: taste right now.
00:39:02.700 --> 00:39:06.330 Pat Duckworth: yeah, so this is really important, the education part.
00:39:06.360 --> 00:39:06.840 Elizabeth Pearson - Simple Successful Stocks: Of yeah.
00:39:06.960 --> 00:39:10.200 Pat Duckworth: it's fine when you're educating women.
00:39:10.260 --> 00:39:15.120 Pat Duckworth: yeah or any of your influences what kind of thing, are you teaching them.
00:39:15.690 --> 00:39:28.230 Elizabeth Pearson - Simple Successful Stocks: Well, we start at the beginning, started, I mean when I work to people, I mean I run sort of classes and then I also worked one to one, so it really depends, where people are in their sort of financial knowledge.
00:39:29.070 --> 00:39:38.940 Elizabeth Pearson - Simple Successful Stocks: But from the beginnings it's like what investing is why you want to do it, and when to do it, so I just skipped over these things now and then, how to go about it so it's like.
00:39:39.330 --> 00:39:48.090 Elizabeth Pearson - Simple Successful Stocks: opening an account putting some money in, and then buying something with it, so you can do it in a very simple way of buying these index funds or you can do it in a more.
00:39:48.960 --> 00:40:03.990 Elizabeth Pearson - Simple Successful Stocks: sort of is called active investing where you're buying individual stocks and shares, so I teach people both so it's really taking people through that Scott so lots of sort of notes and you know pictures of women drinking champagne on bikes on the 1940s, so I think.
00:40:04.200 --> 00:40:19.050 Elizabeth Pearson - Simple Successful Stocks: Because I have a like an architectural design background i'm doing my really best to make it visually attractive because so generally it's not so yeah I don't have a single piggy bank with money coming to shoot I don't have any of those.
00:40:19.980 --> 00:40:32.190 Pat Duckworth: I like what you said, actually right up front, which was more of a money management thing which was pay off your credit card, first, that was the first piece of advice I was given when I went to see a financial advisor.
00:40:32.220 --> 00:40:33.750 Pat Duckworth: And at the time, honestly.
00:40:33.960 --> 00:40:49.140 Pat Duckworth: I didn't have a lot of credit card debt, but the guy said to me why aren't you paying off your credit card now it's like well we pay off this much every month, and he said, and you know you're talking about compounding like your debt is compounding in the background.
00:40:49.140 --> 00:40:51.480 Pat Duckworth: I just leaving it there, so the.
00:40:51.480 --> 00:40:57.450 Pat Duckworth: first thing to do before you think about putting money anywhere else is pay off your credit card.
00:40:57.510 --> 00:41:10.020 Elizabeth Pearson - Simple Successful Stocks: yeah yeah because compounding is a force which you can either work for us with investing or really against us with our liabilities our credit card debt so yet that so yeah pay that off definitely.
00:41:10.350 --> 00:41:16.350 Pat Duckworth: And to address this issue of women's or anybody's beliefs around money because.
00:41:16.740 --> 00:41:35.550 Pat Duckworth: let's just I would I would love it if women were putting in some of their beliefs around money on the first page, you know the penny wise, pound foolish and you know things about rich people and things about poor people, because all of those beliefs, will affect your energy around investing.
00:41:35.790 --> 00:41:49.740 Elizabeth Pearson - Simple Successful Stocks: yeah well, I mean it's there's so many different ones that i've got a home and I couldn't go into them I yeah absolutely we do we do talk about that, and I mean just money is a really interesting things because there's you know there's a kind of there can be a.
00:41:50.820 --> 00:41:52.410 Elizabeth Pearson - Simple Successful Stocks: Like not sort of.
00:41:53.820 --> 00:42:02.130 Elizabeth Pearson - Simple Successful Stocks: Like not having money and then not and then sort of feeling uncomfortable about people who have money and then having money and then feeling guilty about that, like i've had that.
00:42:02.160 --> 00:42:12.120 Elizabeth Pearson - Simple Successful Stocks: it's like I think wow i've got so much, and I feel uncomfortable about that, because so many people have so little so what right do I have to have that money, and yet the thing is about.
00:42:12.600 --> 00:42:15.480 Elizabeth Pearson - Simple Successful Stocks: Money is that well it's, the best thing to do.
00:42:15.900 --> 00:42:26.490 Elizabeth Pearson - Simple Successful Stocks: For for people who don't have money have poor is not not be poor and the Pope, one of the purposes of having money and well is to be generous, you know it's the way to make financial contributions so.
00:42:26.850 --> 00:42:43.020 Elizabeth Pearson - Simple Successful Stocks: So what I do now is I get like 5% of my income away to call this that are worthy so that's you know so, then I know so and I get stopped in the street and asked by someone you know when you get to this I say I always get 5% of my income awake so that i've chosen my charities.
00:42:43.080 --> 00:42:44.730 Pat Duckworth: And that's fine so that's yeah that's.
00:42:44.970 --> 00:42:51.030 Elizabeth Pearson - Simple Successful Stocks: You know that's the perfect you need to be generous to friends to you know all that kind of thing that's a kind of learned thing as well.
00:42:52.080 --> 00:43:02.430 Pat Duckworth: Recently, because you know if you haven't got anything you can't help anybody else, and I think that, in terms of my business I do same as uber.
00:43:02.820 --> 00:43:14.820 Pat Duckworth: I make micro loans through kiva, which is a charity if you've never seen it ke VI VI a they support businesses around the world, so entrepreneurs.
00:43:15.360 --> 00:43:29.220 Pat Duckworth: All over the world, who are who are trying to build build businesses and, of course, that has compounded for me because I give every month and, and then the loans are repaid.
00:43:29.880 --> 00:43:45.540 Pat Duckworth: And, and because i've been doing it practically since I started my business that has accumulated in itself, but that wasn't why I did it initially I thought you know I talked about women becoming entrepreneurs, the least I can do is support women entrepreneurs.
00:43:46.140 --> 00:43:46.440 Pat Duckworth: yeah.
00:43:46.830 --> 00:43:56.340 Pat Duckworth: And you know, to think that you're influencing somebody's life in Cambodia or Rwanda or in America, I.
00:43:56.790 --> 00:44:10.320 Pat Duckworth: give loans to women, starting businesses in America, so you know by pulling money and being able to help other entrepreneurs, I think, is really good I mean let's face it, we are not Elon musk.
00:44:11.010 --> 00:44:12.720 Pat Duckworth: We don't have that kind of money.
00:44:12.810 --> 00:44:19.620 Elizabeth Pearson - Simple Successful Stocks: No, no, you don't it's also because that whole thing about giving it's like it's some there was something from the Dalai Lama.
00:44:21.510 --> 00:44:33.120 Elizabeth Pearson - Simple Successful Stocks: About you joy it's like when we give it give you know the benefit of that last a lot longer and that's the same with money you know same kind of thing it's like be rich to be generous yeah.
00:44:33.720 --> 00:44:35.550 Pat Duckworth: And you don't have to be that rich.
00:44:35.580 --> 00:44:35.970 In fact.
00:44:37.830 --> 00:44:47.040 Pat Duckworth: I have a secretary, when I was working in London, who was a Muslim and she so she had a very strong thing about giving alms and.
00:44:47.640 --> 00:44:59.280 Pat Duckworth: She always used to have a coin in her pocket didn't matter how much it was so that if she saw somebody on the street, she could give that amount of money so it's about not waiting until you're ridiculously.
00:44:59.310 --> 00:45:16.830 Pat Duckworth: Right yeah give money, even if you're giving 20 Peter about making a difference to somebody live on that note, because we are all hardwired for kindness, we will see you after the break when I will ring the last dress of wisdom out of Elizabeth see your break.
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00:47:15.300 --> 00:47:20.430 Pat Duckworth: Welcome back to the hot women rock radio show empowering women leaders at metaphors.
00:47:20.760 --> 00:47:30.150 Pat Duckworth: And my guest today's and Mr Pearson, who is a financial educator I know i'm learning a lot, I hope you are too i'd love to see you put some comments on the Facebook page.
00:47:30.810 --> 00:47:48.630 Pat Duckworth: And, and so I know from the work that I do around menopause that some women prefer to learn and to make these journeys with a friend, can you body up with somebody or you know for any opportunity for doing something like but.
00:47:49.560 --> 00:48:02.760 Elizabeth Pearson - Simple Successful Stocks: I I don't have anything set up myself, and I think, as I was saying earlier, just to have a conversation either just start having conversations with you know with your friends about it is really good you know you might.
00:48:04.740 --> 00:48:10.110 Elizabeth Pearson - Simple Successful Stocks: yeah like learn something separately and then come together and talk about it, or even just like asking each other well.
00:48:10.740 --> 00:48:21.360 Elizabeth Pearson - Simple Successful Stocks: And I do understand your pension or what do you know about investing it's it's just I think investing can be quite a sort of solitary lonely thing you know it's sort of at home can be.
00:48:21.780 --> 00:48:29.370 Elizabeth Pearson - Simple Successful Stocks: And so you were talking about you know investing clubs and things like that it's just having you know talking about it it's really you know it's really good.
00:48:29.820 --> 00:48:30.330 Elizabeth Pearson - Simple Successful Stocks: yeah.
00:48:30.630 --> 00:48:39.630 Pat Duckworth: yeah yeah yeah so you know, like some women like to have a gym Bobby has a thing if they've committed to somebody else and then more likely to do it and that doesn't mean.
00:48:40.020 --> 00:48:47.820 Pat Duckworth: That you have to pull your money in order to do it, but you but, as you say you can be having a conversation, you can be seeing how you're both doing and.
00:48:47.910 --> 00:48:56.520 Pat Duckworth: yeah you know, sharing the books or whatever so finding a party and being able to talk about it might be a bit sexier.
00:48:58.230 --> 00:49:04.680 Elizabeth Pearson - Simple Successful Stocks: And I think it's like anything it's having accountability, like, I had a lot of support over the years of just saying to somebody okay.
00:49:04.980 --> 00:49:13.530 Elizabeth Pearson - Simple Successful Stocks: I was going to this is what I was going to do, I was going to sit down and kind of sort out my investment so until it became a sort of habit and I didn't need that kind of.
00:49:15.000 --> 00:49:24.270 Elizabeth Pearson - Simple Successful Stocks: You know yeah just it's like doing what doing what I say i'm going to do, and so, then I have to be careful about what i'm going to say, but to do so it's not not kind of overloading myself with things but.
00:49:24.330 --> 00:49:39.540 Pat Duckworth: yeah yeah and do you find women invest for a particular reason are they thinking about their pensions or investing just because they're interested what kind of reasons to women have to doing it.
00:49:40.050 --> 00:49:51.240 Elizabeth Pearson - Simple Successful Stocks: Generally, I find that women are they've always wanted to invest or learn about investing and they just there hasn't been a time or they haven't really know where to start and then.
00:49:52.170 --> 00:49:59.670 Elizabeth Pearson - Simple Successful Stocks: You know in this sort of like mid life so to get into like 40 thinking, I really do need to think about this now because of their financial future.
00:50:01.350 --> 00:50:11.550 Elizabeth Pearson - Simple Successful Stocks: or some and sometimes it's been that you know, there may be there, brother has been taught about investing they haven't so there's you know there's still all that kind of stuff that goes on, or they might have they might have been very.
00:50:12.540 --> 00:50:23.580 Elizabeth Pearson - Simple Successful Stocks: They might have a bit of a might have some redundancy money or inherited some money and it feels like it's like it's a responsibility, and I think often it can feel like a burden as well.
00:50:24.900 --> 00:50:30.450 Elizabeth Pearson - Simple Successful Stocks: And yet, of course, as soon as they start learning about it it's not as difficult I think and it's like Okay, this is it's actually really.
00:50:30.660 --> 00:50:42.660 Elizabeth Pearson - Simple Successful Stocks: exciting, this is what I found and empowering to be an investor Oh, you know and seeing that money you know it goes up and down i'm not saying doesn't you know grow over time it's like oh wow this is this is great.
00:50:42.780 --> 00:50:54.150 Pat Duckworth: And I think that's a really good point that sometimes you inherit money either a small amount, or a large amount and you would think you'd be really pleased and then suddenly it's really scary because.
00:50:54.600 --> 00:51:02.490 Pat Duckworth: Somebody has left you something that was precious to them and then you're thinking Oh, I call you know I don't squander this after.
00:51:02.880 --> 00:51:12.210 Pat Duckworth: You know I think that's a really good point that you can get to a stage in your life, where you're suddenly give them something, and you feel that responsibility to do something good with it.
00:51:12.300 --> 00:51:19.020 Elizabeth Pearson - Simple Successful Stocks: yeah it's but yeah just being responsible because, having money is a responsibility because there's then suddenly there are choices it's like you know.
00:51:19.380 --> 00:51:28.230 Elizabeth Pearson - Simple Successful Stocks: Where they stand there's I don't have my choices are limited by money it's it it's not that it's easy it's in a way it's it's simpler, because I have less choices.
00:51:29.310 --> 00:51:33.060 Pat Duckworth: yeah is there one last top.
00:51:34.410 --> 00:51:40.140 Pat Duckworth: One golden nugget that you never share with anybody else that you're going to share with.
00:51:41.610 --> 00:51:44.430 Elizabeth Pearson - Simple Successful Stocks: it's not it's not a golden nugget I never share with anyone because.
00:51:44.730 --> 00:51:47.070 Elizabeth Pearson - Simple Successful Stocks: You know it's what I say all the time.
00:51:47.340 --> 00:51:52.650 Elizabeth Pearson - Simple Successful Stocks: pretended oh sorry yeah, this is the golden, this is the platinum nugget that i've never told anyone.
00:51:53.010 --> 00:52:02.310 Elizabeth Pearson - Simple Successful Stocks: And no just I would say, invest in your financial education, you are, you know as a as a person, we are also a really where our own best asset.
00:52:03.150 --> 00:52:09.720 Elizabeth Pearson - Simple Successful Stocks: So, invest in your financial edge investing financial education, you know start small start simple listening to this is a start.
00:52:10.410 --> 00:52:19.950 Elizabeth Pearson - Simple Successful Stocks: Learning a way that works and just a quiet know that you don't need to know everything know enough to have a go and you don't yeah and and yeah you can start small.
00:52:21.210 --> 00:52:21.840 Elizabeth Pearson - Simple Successful Stocks: Start small.
00:52:21.990 --> 00:52:25.020 Pat Duckworth: definitely say when you say, well, you could start with 50 pounds.
00:52:26.160 --> 00:52:26.460 Elizabeth Pearson - Simple Successful Stocks: yeah.
00:52:26.490 --> 00:52:27.420 Pat Duckworth: I could find 50.
00:52:28.500 --> 00:52:29.100 Pat Duckworth: happy.
00:52:29.730 --> 00:52:31.140 Elizabeth Pearson - Simple Successful Stocks: i'll be manageable totally.
00:52:31.200 --> 00:52:33.330 Pat Duckworth: yeah that's a tiny golden nugget.
00:52:36.300 --> 00:52:38.910 Pat Duckworth: it's like golden grain that we were.
00:52:40.680 --> 00:52:45.030 Pat Duckworth: So I think you have an offer for our listeners what you bring to them.
00:52:45.060 --> 00:52:49.290 Elizabeth Pearson - Simple Successful Stocks: Yes, so if anyone would like to talk to me about investing.
00:52:50.310 --> 00:52:54.270 Elizabeth Pearson - Simple Successful Stocks: And how to get their money working for them, I offer a free 45 minute.
00:52:54.690 --> 00:53:05.160 Elizabeth Pearson - Simple Successful Stocks: conversation we can have a chat on the phone or zoom call is no obligation, no obligation just you know i'm really happy to get you started and gain more financial clarity I run.
00:53:05.790 --> 00:53:12.930 Elizabeth Pearson - Simple Successful Stocks: taster classes i've got the next one on the eighth of June it's called girls just want to have green funds it's all about.
00:53:14.100 --> 00:53:14.940 Elizabeth Pearson - Simple Successful Stocks: cyndi lauper.
00:53:17.070 --> 00:53:28.320 Elizabeth Pearson - Simple Successful Stocks: it's the basics of investing how to start and how to do it in a sustainable way, so what I say is sort of simple sparkling sustainable and that's also about making it sustainable for yourself so you've got like the energy to do it and.
00:53:28.710 --> 00:53:34.500 Elizabeth Pearson - Simple Successful Stocks: So yeah that's it costs 35 pounds, you can also join the step on the stage that's.
00:53:36.330 --> 00:53:36.510 Pat Duckworth: What.
00:53:36.810 --> 00:53:38.580 Pat Duckworth: time of day, when they can you.
00:53:39.360 --> 00:53:42.000 Elizabeth Pearson - Simple Successful Stocks: Know it's 11 in the morning and 7pm in the evening so.
00:53:42.540 --> 00:53:43.440 Elizabeth Pearson - Simple Successful Stocks: That would work yeah.
00:53:43.500 --> 00:53:46.830 Pat Duckworth: There are no excuses well stateside cousins.
00:53:47.280 --> 00:53:48.450 Get on those calls.
00:53:49.500 --> 00:53:51.300 Pat Duckworth: So Elizabeth Thank you so much.
00:53:51.330 --> 00:54:00.990 Pat Duckworth: Thank you so much information it's been great and I will put the links under the recording your background is so creative all your pictures.
00:54:02.790 --> 00:54:12.810 Elizabeth Pearson - Simple Successful Stocks: Actually, yes, you know, this is, you know, this is a lockdown creations, you know yeah so try and remember that i'm a creative person and I thought, these are sort of planetary as well, green and planetary.
00:54:12.840 --> 00:54:13.440 So.
00:54:14.880 --> 00:54:16.770 Pat Duckworth: I see more of landscapes.
00:54:18.030 --> 00:54:19.590 Elizabeth Pearson - Simple Successful Stocks: Well, you can read into what they're like I don't.
00:54:20.880 --> 00:54:22.320 Elizabeth Pearson - Simple Successful Stocks: They are my own creations, thank you.
00:54:22.350 --> 00:54:35.850 Pat Duckworth: I just wondering whether you can be creative in investing as well that's a conversation for another day sorry i've just taste you with that I have to say it's almost time for us to move on, but thank you so much, I know.
00:54:36.060 --> 00:54:40.290 Pat Duckworth: He loves from this conversation and yeah i'll put some links up.
00:54:40.320 --> 00:54:42.660 Pat Duckworth: Under the recording remember you can.
00:54:42.720 --> 00:54:50.730 Pat Duckworth: always find the recordings that talk radio dot nyc forward slash hot women rock all the recordings for previous shows up there.
00:54:51.450 --> 00:54:58.200 Pat Duckworth: So, last week I was talking about multiples in the workplace, with two wonderful representatives of Cheshire five service.
00:54:58.680 --> 00:55:07.200 Pat Duckworth: i've talked about Oh, we had Christine powers, the previous week talking about kicking and screaming into menopause not everybody is welcoming with open arms.
00:55:07.560 --> 00:55:15.360 Pat Duckworth: And the previous week it was me talking about how to manage your own menopausal symptoms in the workplace, so you can always find it there.
00:55:15.690 --> 00:55:22.650 Pat Duckworth: If you want more help with your minerals, I have written a book in fact i've written five books that you can find all over Amazon.
00:55:23.370 --> 00:55:32.370 Pat Duckworth: Hot women cool solutions, was the first one, and last year was menopause mind the gap which was about menopause in the workplace.
00:55:32.700 --> 00:55:44.640 Pat Duckworth: Stay tuned talk radio dot nyc with the next program is dismantle racism, with the wonderful Reverend Dr tlc this week subject is recognizing systemic gaslighting.
00:55:45.120 --> 00:55:58.950 Pat Duckworth: and her guests this Community leader to nisha arena so stay tuned for that and, of course, afterwards, it will be the wonderful seven leibovitz the conscious consultant, there are lots of great programs to stay tuned for.
00:55:59.700 --> 00:56:06.780 Pat Duckworth: And next week, I will be talking to any boudreaux who is talking to me about.
00:56:08.160 --> 00:56:17.730 Pat Duckworth: Nutrition we're talking about nutrition for a healthy mind we're talking about it for mental wellness and that was something that came up in the divina call.
00:56:18.090 --> 00:56:23.670 Pat Duckworth: documentary was about how metaphor paul's metaphors you see it affects the brain.
00:56:24.480 --> 00:56:30.720 Pat Duckworth: But some women do get problems with their emotional well being and so, knowing that you can.
00:56:31.080 --> 00:56:43.290 Pat Duckworth: change your nutrition, to help with that is always really good next week, I will actually be coming to you from the beautiful island of New York so i'm just hoping that the broadband is going to be good enough, otherwise any is going to be talking about.
00:56:43.890 --> 00:56:49.710 Pat Duckworth: Self have a great week Thank you again Elizabeth see you next week, and thank you to my producer.
00:56:50.160 --> 00:56:50.640 Elizabeth Pearson - Simple Successful Stocks: Thank you.
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