What happens when a traditional homemaker who has no idea about how to take investing decisions is left to fend for herself because of her husband's sudden death? Even more disconcerting, she may lack the basic knowledge she needs to get started. She may have to rely on her husband's pension and life savings to see her children through school and college, and scrimp and save and try to make both ends meet. Going to an investment house may seem the obvious solution, but the brokerage fees will eat into your savings. This is when one realises the importance of making active investment decisions. Once you take the reins into your hands, with a little guidance, you will find that your portfolio will nearly double from the time you took charge.
With the changing society, the fact is that women do outlast men. Then, you take into account the spate of divorce cases which again mean that the woman has to fend for herself. Therefore, looking after one's finances, whether you are a working woman or a home maker, becomes a necessity and not a luxury. At some point of time, women are catapulted into the investment market where they can sink or swim. With their intuitive powers, women are naturals for this field and soon get to make intelligent decisions. Most women now feel the need to educate themselves and their children so that they are never left in the dark about finances. They realise that in this case, ignorance is certainly not bliss, but is, in fact, dangerous because it affects your whole livelihood.
A recent survey conducted among women revealed that the more money a woman has, the smarter she is. This effectively dispels the myth that women are too conservative, or are afraid of the stock market. It also reveals that women are hungry for more investment knowledge so that they can take informed decisions. In fact, with the changing marketplace and the presence of a sizable number of women in the workforce in top positions or as entrepreneurs, these women want to play an active role in any decision – making.
| How do you begin? As a starting point, |
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Hire a professional and get to learn the ropes. |
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When you do so, be sure to define your goals. Determine what you are saving for, and how much money you want to come out with. |
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Then ask yourself about the time frame: For how long do you want to tie up your money in a particular stock or mutual fund? |
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Never be afraid to take a chance and have the confidence to invest. It will take you a long way in your quest for financial independence and, soon enough, you will be handling your finances with grit and confidence born out of knowledge. |
So what are you waiting for? Come on! Make a beginning and see how your natural instincts guide you on the path to financial independence. |
The role and responsibility of entrepreneurs is changing as India changes. This is an important issue to think about, because the nature of entrepreneurship is different in India- it is more complex, complicated and more granular than the West. 
List out business ideas and make your choice. Once you have identified your business idea, find out what you will require eg. Staff, inventory, storage space, communication network, stationary etc 