 INVESTING IN WOMEN AND GIRLS
You may not have known this but July 11 was World Population Day (6.775 billion and counting) and this year’s theme was Investing in Women and Girls—investing in their education, health care and opportunity for a better life.
Today, more than 600 million girls live in the developing world. According to Thoraya Ahmed Obaid, executive director of the United Nations Population Fund (UNFPA), “investing in women and girls during the global financial crisis will help set the stage for economic recovery and reduce inequality and poverty.” An important initiative because educated girls turn into educated women who earn better incomes and are more likely to make sure their own children get an education.
The Nike Foundation has spent the last four years investing in this program. Its goal is to create conditions that support and value girls during their adolescent years before it’s too late for them. They have learned that when 10 per cent more girls go to secondary school, the country’s economy grows by three per cent. When an educated girl earns income, she reinvests 90 per cent in her family, compared to 35 per cent for a boy. When women have the skills to participate in public life, government corruption declines.
Check out their short (just over 2 minutes), but powerful video called the “Girl Effect.”
 WE LIFT AS WE CLIMB: WOMEN AND THE POWER OF MONEY
By Tracy Theemes, MA, CFP, FMA, FCSI and Kamal Basra FMA, FCSI, Investment Advisors, Sophia Financial Group of Raymond James, LTD.
As the owners of Sophia Financial Group Raymond James, a new financial advisory firm in Point Grey that serves the financial planning and investing needs of women and their families, we regularly face the question: How are women different when it comes to investing and managing their financial affairs?
Women currently own half of the financial assets in Canada and projections are that the number will rise to 70 per cent by 2019 (Oppenheimer Funds, 2005 Report on Women and Investing). Yet, only eight per cent of financial advisors in Canada are women.
Women live longer and often have interrupted careers. We tend to be society’s custodian of social order and values and our financial decisions are often values-based (Ad Edge, 2001; Yaccato Group, 2002). Women place an emphasis on the process of decision-making and collaborative interaction (Trendsight, 2000). Women are wired for top-down, big picture overview (Psychology Today, 2003) and see money in context to their whole lives and not as a detached, separate entity.
Women want to know that they are dealing with a high integrity, credible and technically competent advisor. They need to work in an atmosphere of respect and collaboration. Money is not just about “getting ahead” and “buying more stuff.” It is about stewarding the gifts we have and the rewards that have been earned in ways that reflect our principles and that support the people and causes we believe in.
If you ask the majority of women about their biggest worry, it is that they want to know that the decisions they are making are the most responsible ones possible. They want to be assured that they have stewarded their resources well and that decisions were well thought out and made to the best of their ability.
In short, women are unique in several facets of their financial planning needs. Our life circumstances such as life expectancy, being mothers, and having lower lifetime earnings create both challenges and opportunities. We are wired differently. And we communicate in a context of life goals and personal values.
When women are given the facts and data about how to best learn to manage our financial resources they feel motivated and inspired. And as we approach the day when we will control the majority of Canada’s assets, it becomes imperative that we use this unprecedented opportunity to create true societal change for the betterment of us all.
Your thoughts? Send your comments to judy@workthepond.com
 TELL US WHAT YOU WANT
What you are you looking for from the Women’s Leadership Circle? Well, here’s your chance to tell us what you want…what you really, really want. Just complete the WLC Survey that was sent out earlier this month. And remember, for all those who participate, there is a chance to win a fabulous prize—the latest version of the BlackBerry Pearl, courtesy of TELUS Mobility!
See survey
 DID YOU KNOW?
The Vancouver Board of Trade led the charge to rescue the RAV Line (now Canada Line) when it was voted down in May 2004 by the TransLink board. The Board got 38 organizations together within a matter of days. Tourism Vancouver and its president and CEO Rick Antonson was first on board. The heavy lifters were Dave Park of The Board of Trade and Bruce Rozenhart of Counterpoint Communications. Bruce invested over $100,000 of his firm’s time to help the Canada Line become a reality—corporate citizenship at its best.
 MORE BOOKS OF SUMMER
In our last newsletter, we asked you tell us what books you are reading this summer. Here is what some of you told us:
Eye surgeon and brand new mom, Dr. Carolyn Anderson says she has read a lot of books this summer. How does she have time for this? She reads the books out loud to her six-month old baby, Nicholas. “At this point, he doesn’t care if it is Dr. Seuss or the latest personal development, business or parenting book. My usual one book a week has turned into two.” Here are some books that Carolyn (and Nicholas) thought were great:
- The Good Life by Jessie Dylan: a compilation of advice from some of the greatest visionaries in the realm of human wellness, physical health, inspiration and transformation. This book offers some amazing tips to move your life forward.
- The Five Secrets You Must Discover Before You Die by John Izzo: A Vancouver author and business expert who interviewed 200 people between the ages of 60-106 who had found happiness and meaning in their lives and asked them what ultimately mattered and what didn’t. This genuine wisdom honors the experienced population and captures the heart.
- The Last Lecture by Randy Pausch: It is the last lecture given by an esteemed computer science professor from Carnegie Mellon who had been diagnosed with terminal pancreatic cancer. It is not about dying but more about overcoming obstacles, enabling the dreams of others and seizing every moment.
- The Art of Possibility by Zander and Zander: A how-to book for bringing possibility into your life. It brings together art and business in an extraordinary way. This book promotes passionate communication and leadership.
- The First Billion Is the Hardest: Reflections on a Life of Comebacks and America’s Energy Future by T. Boone Pickens: A great business read. This book inspires us to realize anything is possible no matter what age you may be. He also presents a very interesting solution to our dependence on foreign oil and some possibilities for creating a sustainable relationship with our planet (interesting coming from a man who made his fortune in the oil industry).
Lyn Hellyar, Executive Director, West End BIA, says all women should read:
- My Stroke of Insight by Dr. Jill Bolte-Taylor: “I started to read the book two nights before I had my stroke. (I have always believed in karma!) It has made a huge difference to me, and to how I perceive life! Her ‘insight’ into how we react to things in life would make a difference to any woman I know!”
 SUNGLASSES FOR LAPTOPS
For all of you who must crack open your laptop on your summer vacation, but struggle to read the screen in the sun, there is a solution. Glarewear Sunglasses. These glasses allow light through from the laptop, but at the same time make the lenses block the light from everything else. When the maximum amount of light from the laptop reaches the eyes, the eyes adjust and the LCD screen appears much brighter than the surroundings. Check them out at: http://www.glarewear.com.
YOUR FEEDBACK
We would love to hear from you. Send your comments, ideas for this newsletter, for speakers, for content to: info@wlcircle.com
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September 11, 2009 