Let’s start my morality play with a financial angle. Buying bonds with sequential maturities is an investment strategy called a bond ladder; certificates of deposit can work, too. Retirees and pre-retirees with defined spending needs can use a bond ladder. Insurance companies and pension funds operate similarly; it’s matching needs with income. Bond ladders also allow some protection from rising interest rates, too. If rates rise, when a “rung “on the ladder matures it can be replaced with a higher yielding one.
Since investors often need high quality fixed income, I buy bond and CDs for them. One day a client got a good bond, and I got a dose of humility. Surprise, surprise, surprise — the bond desk’s new girl was better than the guys. My subtle chauvinism surprised me, and my wife gave me another (needed) dose of reality. She reminded me women often do a better job than men while routinely having their work underappreciated.
Piggybacking on earlier work by Terrance Odean and Brad Barber, Fidelity combed over eight million accounts and reasserted that women investors beat men. Women save more (almost 1 percent annually), and their investments earn more (.4 annually). While these differences seem tiny, with beginning salaries of $50,000 at age 22, the average woman will have $250,000 more than her male counterpart. Women trade less so their portfolios have less cost and tax drag. Plus, women invest more conservatively and are more likely to use target date funds, which minimize investment decisions. One pundit noted men look at investments the way they do sports teams. Some of the smartest financial minds I know are inside a woman’s head. Without Sheryl Garrett, I wouldn’t have a career.
On Facebook, a former employee posted I was her best boss ever. While there are likely differing opinions, here’s the story. A customer started touching her inappropriately, but she never complained to me. Another employee busted the pervert out, and the next time Mr. Smooth came by I told him he had to behave or be gone. His response was classic. “I fought in World War II.” I didn’t care if he was Audie Murphy, “There’s a store down the street.” For a man to be a decent boss, here’s the deal, just don’t be a jerk; that’s how low the bar is.
Unless you live under a rock, high profile, salacious disclosures flood the news. It is never appropriate for someone to use their fame and power to bully others, whether it is physically, mentally or financially. Boorish behavior is bad for business; we will be a better society and a better nation without it. If you want America to be great, my two granddaughters can help, just let them.
You can’t always get what you want, but Buz Livingston, CFP can help figure out what you need. For specific recommendations, visit livingstonfinancial.net or come by the office in Redfish Village, 2050 Scenic 30A, M-1 Suite 230.