Independence Day 2023: How women can attain freedom through financial empowerment

livemint.com:

Independence Day 2023: Financial independence is very subjective, but there remains a wide gap between women and men when it comes to investing. One doesn't have to be a financial expert to start investing, but yes basic financial education empowers women to take control of their finances. Mutual funds can enhance this education through various initiatives.

In a conversation with Livemint, Aditi Kothari of DSP Mutual Fund explained how women should prioritize safeguarding their financial future by taking control of their funds and seeking genuine financial advice. Financial education is imperative for the common investor to understand the basics of investing. Securities and Exchange Board of India’s (SEBI) investor awareness programmes have helped in enhancing the level of financial awareness and education.

Mutual funds are also doing a lot in terms of investor education. The more women learn, the more they grow in confidence. The other part is that one must hire a financial advisor.

With better investing knowledge, you would be able to ask the right questions and better understand what your financial advisor is doing and be better equipped to make an informed decision regarding your investments. SEBI’s mandate to mutual fund houses (MFH) to spend 1% of their revenue on financial and investment education has improved the level of effort put in by the mutual fund houses. Resultantly, India is now doing better than the West in terms of financial and investor education.

Today, each MFH has either an expert or a team to manage its financial education initiatives. I don't think there's any specific investment strategy for women that is different from what it is for men. When you are young and enjoying a productive career,