March 16, 2025
Accelerate Your Wealth, Ladies: Start Now!
International Women’s Day (IWD) 2025 is all about “Accelerate Action” – a bold call for women to fast-track their journey towards empowerment. One pivotal way to achieve this is by taking control of a fundamental element that fuels independence, confidence, and freedom: money.
Our women are powerhouses. They are CEOs, entrepreneurs, and trailblazers. They run boardrooms, businesses, and households with an energy that is nothing short of legendary. Yet, when it comes to investing, many remain on the sidelines without plans to build generational wealth and secure their future and those of their families. But what underlies their reluctance to invest?
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Outdated Narratives
Outdated narratives that suggest that investing is complex and only for the wealthy disproportionately affect women. As a result, women are less likely than men to talk to a financial professional about their financial health. A recent study from Wells Fargo found that while 74 per cent of women think financial health is important, only 51 per cent feel confident in financial management. Even worse, only 26 per cent of women worldwide invest in the stock market, according to a 2023 study by Fidelity Investment, while approximately 37 per cent of JCSD investment accounts are held by women in Jamaica.
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Insufficient Earnings
The gender pay gap is a persistent global and regional issue, with the World Economic Forum in 2023 reporting that globally, women still earn 20 per cent less than men. In Jamaica, women earn, on average, 39 per cent less than men according to the Caribbean Policy Research Institute (CAPRI). Earning less makes it more challenging to cover family needs and personal expenses, minimising the amount available for saving and investing. It’s unsurprising then, that women may decide to put investing off. But the longer you wait, the harder it is to catch up.
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Investment Phobia
The fear of investing is real, and it’s a major barrier to financial growth for many women. While everyone has different financial goals and risk tolerance — whether conservative, moderate, or aggressive — many hesitate to invest because they think the jargon is too confusing or the risks are too high. However, investing is a skill that can be learnt. The good news? There are many resources available today, including online courses, investment blogs, webinars, and even financial advisors, that can help demystify the world and break the investment phobia.
Investment Myth- Busting
If any of these concerns resonate, it’s time to debunk some common myths.
1. “I shouldn’t invest because it’s risky.” – Indeed, investment is risky but so is stuffing cash under your mattress while inflation erodes its value. Smart investing is about calculated risks that lead to higher returns.
2. “I don’t have enough money to invest.” – Gone are the days when investing required deep pockets. Online platforms like NCB Capital Markets’ GoIPO allow everyone, including women, to start small and grow steadily over time.
3. “I need to know everything before I start.” – No one has all the answers initially, as shown by Oprah or Jamaica’s very own Dr Trisha Bailey, who journeyed from humble beginnings to billionaire. Financial literacy, and more broadly generational wealth creation, is a journey. So start now and learn as you go.
4. “I don’t understand the market.” There are many options to gain investment knowledge – No one is born with investment knowledge. However, Jamaican investors have access to investment advisors, digital platforms, and resources like free investment workshops, or webinars – including NCB Capital Markets Limited’s (NCBCM’s) ongoing “Invest Like an Owner” webinar series – that make investing easier than ever to learn.
How to Accelerate Your Wealth: A Practical Guide
As we debunk common investment myths, it’s imperative to shift our focus towards practical strategies that empower women to take control of their financial futures. Here’s a foundation to fast-track your wealth-building journey:
1. Get a Financial Advisor
Just like when you cook ackee and saltfish with a recipe or based on how mom used to make it, it’s best to seek guidance from financial experts when investing. NCBCM offers wealth advisors and digital tools for everyone – from first-timers to experienced investors.
2. Know Your Investment Options
Educate yourself on investment instruments. One way is by attending NCBCM’s “Invest Like an Owner” webinars, which is a good way to learn about wealth-creation tools like individual stocks, unit trusts and supplementary content that keep you in the know. These and other insightful webinars are available on the NCB Jamaica YouTube channel. Take the time to enhance your financial literacy and investment opportunities.
3. Set Goals. Then Take Action
Approach investing as you would a fitness journey: Set a goal, plan, and track your progress. Decide how much you want to invest this year and establish systems — like automated monthly contributions to your favourite unit trust fund.
4. Stay the Course
Markets rise and fall, much like the tides at Hellshire Beach. However, remaining invested through these ups and downs ensures that long-term investors come out ahead. The Laws of Wealth Creation recommends a long-term approach to investing. Financial goals = Commitment + Focus + Patience.
5. Build Generational Wealth
As women invest and increase their wealth, they can play a key role in securing not just their future but also the well-being of the next generation.
• Plan for retirement. Savings accounts are great, but investments grow wealth over time.
Diversify income streams. While side hustles can provide additional income, using investments to earn passive income can lead to long-term financial stability. Exploring opportunities such as unit trusts, dividend-paying and growth stocks, or other investment avenues can help your money work for you, even while you sleep!
• Teach children about investing early. This way they’ll learn the importance of investment and growing wealth over time, making them better stewards of future income and any inheritance they receive.
Why Start Now?
Picture this: It is 2045, and your investments have grown into a financial cushion that lets you retire early, start a passion project, or travel the world. Future-you is looking back and thanking today-you for making the move. The next time you think wealth — think that it’s for women too. Make that smart decision to accelerate your wealth creation by starting early and starting now. For more information, email ncbcapinfo@jncb.com or call 1-876-960-7108 to speak with a wealth advisor.
Dr Karrian Hepburn Malcolm, Head — Wealth Management, National Commercial Bank Jamaica LimitedStudioCraft
