Back in the day, success looked an awful lot like wealth to me. Alicia Silverstone’s character in Clueless exuded sophistication with a side of success when she’d waltz into her mansion with shopping bags in tow. Like, totally.
But wealth and success have many forms, and it isn’t all as complicated to figure out as we make it out to be. When faced with a moneymaking opportunity, just ask yourself one question: Will this make me happy? If an opportunity presents a whole lot of moolah but just isn’t jiving with you, it’s OK to say no. You are the only one who can define your worth.
WOMEN IN NUMBERS: 1 Percent
Even though only 28 percent of women say they feel self-assured enough to invest, according to DailyWorth, the financial-advice website for women, women are quite savvy when it comes to money management. Take investments, for instance. Women’s investments actually outperform men’s investments by 1 percent annually. That might not sound like much, but over time, it all adds up.
WOMAN TO WATCH: Abigail Johnson, President and CEO of Fidelity Investments
A great example of a woman who really knows how to invest is Abigail Johnson. She’s the 65th richest person in the world and has a net worth of more than $13 billion.
Abby is the president and CEO of Fidelity Investments, the massive financial-planning and mutual-fund company that boasts $1.8 trillion in assets and was founded by her grandfather. In 2014, Abby replaced her father at the helm of the company, becoming the third-generation Johnson to head Fidelity.
Since its founding in 1946, Fidelity has gained 25 million individual customers, and continues to focus on all aspects of investing, from personal and workplace investing to asset management. One of the company’s key concentration areas these days involves connecting with millennials through digital tools, and giving consumers rewards when they make savvy financial decisions. Fidelity also has a charitable arm, which extensively funds organizations and causes in the industries of health, arts and culture, preservation and education.
Something that comes across very clearly in many press articles about Abby is that she’s defined and described in relation to her former CEO father. Media outlets can’t help but say they’re nervous about whether she will follow in her father’s successful footsteps or step out from under his shadow.
Her quiet and serious demeanor exudes a sense of power and control, demonstrating that while she will invest her all in her career, she isn’t going to be the same CEO as her father. Instead, she’s going to be the CEO she wants to be, and from the looks of it, her position suits her—and Fidelity’s millions of customers—just fine.
QUITE THE QUOTE
When it comes to women investing intelligently, financial author Laura Vanderkam was spot-on when she said:
“Smart women figure out what exactly makes them happiest. They spend generously on those things but cut out the rest.”
This is Melinda Garvey signing off until next time. Remember, ladies, empowered women empower other women. Share On the Dot so more women can have a voice. Thanks for getting ready with us.