Inderes Femme - Money Talk from Women

Finanssiflikat, i.e., @Isa_Hudd, @Marianne_Palmu, @Pia_Maljanen, and @Sara_Antonacci, discussed investing in different life stages. :slight_smile:

Investing is a journey that can look different in various life stages. Factors such as age and life situation can influence the chosen investment style and willingness to take risks. Everyone’s investment story is different – some may jump into the world of investing young, while others may only discover it in retirement age. Inderes’ Finance Gals Isa, Marianne, Pia, and Sara pondered what investing can be like in different life stages through their own experiences.

Topics:

00:00 Introduction
01:16 Youth
19:15 Busy years
30:01 55–64 years

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Thank you for your writing and sharing the memory. I can relate so much. My own piggy bank was Scrooge McDuck from KOP-bank. I was a member of the denim club, I read Välkkylehti, and every time I took my Scrooge-bank to the bank, I got stickers that I collected in a sticker album. With enough stickers, you could then choose a poster for yourself.

This was, at least at that time, an extremely good and functional concept. Saving became concrete, and as a child, I realized that it was possible to succeed at it.

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I also remember the stickers I got as a KOP customer, those squirrel stickers. Additionally, I was a member of Uncle Scrooge’s Millionaire Club with my membership card. Somehow I recall that as a very little girl, I also borrowed my mom’s or dad’s bank card for outdoor games (apparently the millionaire club card wasn’t always enough). When my parents noticed, after questioning me for a while, they found it at the bottom of a ditch somewhere :smiley: after that, for obvious reasons, real bank cards were no longer part of our games.

p.s. Finanssiflikat and other content can now also be found on Instagram, on the account inderesfemme. Give it a follow :wink:

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I don’t usually link my own work here or to other forums, but now I thought I’d make an exception. I recently had the pleasure of meeting stock market veteran Marja-Leena Haapanen. In my opinion, the podcast fits this thread perfectly in terms of its themes.

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What a nice and inspiring story about saving :heart_eyes:. I also fondly remember piggy banks, which for me were globes because my aunt, who worked at a bank (and whom I also talked about in the podcast episode), worked at Union Bank of Finland (Yhdyspankki). I had these globes in many colors, and my greatest treasure was a giant globe that I never managed to fill. One reason for this, however, was that thanks to my aunt, I also had the key to the piggy bank, and especially when I was a bit older, I also took money from the piggy bank to use :sweat_smile:
It’s true that toys, books, etc., that you bought as a child with your own savings were always more valuable and dearer than others :blush:
I started thinking about my earliest money-related memory, and I think it’s related to pocket money. My brother and I received pocket money when we did certain chores, meaning we didn’t get pocket money without earning it. From that money, I put some into the piggy bank and with some, I went to the local kiosk to buy loose candies. Oh, the joy of slipping a mark into my mitten and going to the kiosk to choose 10-20 candies (depending on whether they were 5 or 10 penni candies). :candy: Somehow, the candies earned with my own work always tasted better than the treats found in the cupboard at home.

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Lovely Marja-Leena.
I myself have also been thinking about that Women’s Stock Exchange Club.

Wasn’t it founded back then because women weren’t accepted as members of the Helsinki Stock Exchange Club? I recall reading some article like that on the subject.

It’s quite crazy that women’s membership only became possible for the Helsinki Stock Exchange Club in 2019. Marja-Leena founded the Women’s Stock Exchange Club in 2017. Surely these matters are connected.

I’ve been somewhat bewildered by how equality issues are still in their infancy in economic discussions.

But yeah… I haven’t applied yet, as I’ve assumed that most events are in the Helsinki metropolitan area, and a Tampere resident living through these busy years can’t even make it to company meetings.

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Do you have women’s groups where you can naturally and openly talk about money and investing?
I myself suffer from a lack of such groups and have now become active in gathering one.
The purpose is to exchange ideas, inspire and encourage each other, perhaps go out to eat together, attend investment fairs, etc.

Very often/almost always, when I’ve cautiously asked about interest in financial matters/investing, I’ve been met with roughly a blank stare. From that, I’ve concluded, 'aha, not this again.':grinning_face:

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I don’t have women in my circle of acquaintances with whom I could naturally and openly discuss investing. I once participated in a Wealthy Woman webinar, where there were many women interested in investing, even a few from nearby. We formed a WhatsApp group so we could support each other, discuss investing, and perhaps meet for coffee. However, the group quickly faded, and we didn’t get to discuss much or meet up. As I recall, they were mainly interested in real estate investing, whereas I’m more interested in trading and stocks :slight_smile:

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I also don’t have any women in my close circle who invest, nor really any other acquaintances with whom I could discuss the topic. At least I can talk about these things with my spouse. If there were a stock market club-type association aimed at women operating in Tampere, I would join it immediately. I would definitely want to network with like-minded women and be able to discuss investing and money in general.

It’s quite odd that even though I have a really close relationship with my two sisters and we share all daily & current matters in a super active WhatsApp group, money is still almost a taboo. I have very cautiously tried to tell them the good news of saving and investing :slight_smile: We are still far from the point where it would be natural to talk about money. I do know my sisters’ health and relationship matters, but not their salaries or the amount of their mortgages.

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Wow, that really resonates!
I started a WhatsApp group, where, as per my previous message, the intention is to discuss financial matters, wealth building, etc.
You are welcome to join if you are interested. I’m just not very tech-savvy, so I couldn’t find a way to share my contact information privately. If such a thing even exists.

I myself live in Hämeenlinna and am willing to travel if meetings etc. are arranged, but I assume that we’ll mainly exchange thoughts on WhatsApp.

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You can add me to Whatsapp too.

In Tampere, there would be an Investment Fair on May 8th. I’m not sure if I’ll make it to the fair during the day due to work, but last year I was able to get out in the evening around that time.

That could be a very viable time if someone is interested in meeting up in Tampere and Hämeenlinna is quite close.

Maybe for a meal or something else?

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Great! I’d love to join the WA group. It could be interesting :slight_smile: Can’t you send private messages here? I’ll send you my contact details.

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Hi! Now, there’s a great opportunity to network. We femmes are organizing an after-work event in Helsinki in April, where the topic will be different stories about investing. Come join us, it would be lovely to meet you in person!

And yeah, as someone from Turku, it sometimes annoys me too when “everything” is in Helsinki, but there are already plans for things to be organized elsewhere too :slight_smile:

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I wonder if this is already full or if there isn’t a registration link on the pages yet? If I really went for it and came all the way from Turku! :smiling_face:

Edit: Aww, I just noticed it was already full! Maybe @Marianne_Palmu could organize something similar in Turku? :innocent:

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The event indeed filled up in record time. But no worries, we do have other plans, also for Turku :wink:

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@Sara_Antonacci interviewed Maria Nurminen. :slight_smile:

28-year-old Master of Science in Economics Maria Nurminen works as a financial consultant and, in her free time, is an active advocate for investing. In the episode, Maria shares her interesting journey as an investor and the lessons learned along the way!

Topics:

00:00 Introduction
00:22 Maria Nurminen
00:15 What made Maria start investing?
18:47 Gathering knowledge
21:22 Investment style
28:05 Mistake
34:48 Success
41:29 Money talk
47:28 Lesson for past Maria
49:49 Greetings to Femmeläiset

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Hi everyone!

Maria’s interview was really great. What particularly stuck with me was the human touch about how, when starting to invest, one feels dumber than usual (there’s so much to learn) and poorer (can’t buy all the nice things anymore). I still especially agree with the first part; knowledge also increases sorrow :slight_smile:

Femme now also has its own page, where all materials are collected. It’s worth checking out: Inderes Femme

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Thanks again to Finanssiflirttailijat for the interesting interview!

I admire Maria’s attitude: when she didn’t know why the value of funds changed, she wanted to find out for herself. I can identify with the same way of thinking: I want to understand what is happening in the markets and why.

Like Marianne, I also remembered that when you start delving into investing, you often feel dumber than you thought. And when you start investing a portion of your regular income, you feel poorer than before.

Sara brought up a really good point: usually, it’s the more experienced investors (or at least those who present themselves as such) who are vocal, which can make beginners retreat into their shells and study on their own. Many don’t dare to ask or share their own views. I had the same issue, that I didn’t dare to ask at first, but also that I didn’t know where or whom to ask. Fortunately, nowadays, finding information is so much easier, and the threshold to ask has lowered. I completely agree with Maria that one can never be “finished” with investing; there’s always something new to learn. Additionally, she mentioned that buying direct stocks brings a completely different kind of motivation to follow the markets, and I fully endorse this too.
For many years, I had the misconception that investing couldn’t be started until a large initial capital had been accumulated, and that several thousands of euros should be put into one stock. I thought that investing smaller sums didn’t make sense, which of course isn’t true, but it’s a shame that it took many people too many years to realize this.

When it comes to women’s more cautious investment style and risk-taking, I’m at the complete opposite end, I love taking risks and enjoy it :star_struck:

Maria mentioned Heikki Keskiväli’s book “Tähtäimessä osakkeet” (Stocks in Sight). I haven’t read it myself, but I’ve taken the online course with the same name and can highly recommend it if you don’t want to read books.

It’s also completely true that if you never make mistakes, you also never learn. I want to encourage everyone to approach investing with the understanding that mistakes will happen, and many of them. They shouldn’t be feared, but rather learned from, and experience should be gained :slightly_smiling_face:

I also have to confess that I’ve fallen into the trap of blindly following others’ investment decisions :sweat_smile:

It’s also a good point that an investor might easily read only news that supports their own view of a company, instead of also considering why it might be a bad investment.

Setting interim goals and achieving them is a good way to maintain motivation and manage risks. It helps to focus on long-term action instead of reacting to momentary emotional impulses.

Maria also said very well that real-life concrete examples are important. They are truly needed :slightly_smiling_face:

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Hi everyone!

I’ve been waiting for this day, as today we got to introduce Femmesalkku and its first purchases. Together with @Kaisa_Vanha-Perttula, we aim to make the portfolio as relatable as possible for long-term investors. Additionally, with this portfolio, we also aim to highlight lessons in stock picking, i.e., how to choose an investment target, compare companies within different industries, etc. The first report is now published, go and read it :blush:

Edit. Now also a video out, with thorough justifications for the picks

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Great that a dedicated femme portfolio has also been opened! I listened with interest to the entire video on the topic, and my first thought upon seeing the title was that it’s great that it’s not some lukewarm fund scheme. So, my disappointment was great when it became clear in the video that funds are also included.

Of course, I agree that funds are part of a balanced portfolio, and I also have funds as a “cornerstone” in my own portfolio. However, my association with the matter, unfortunately, is that once again, there is no trust that women also know how and are capable of stock investing specifically. Inderes is, after all, a STOCK analysis company, and I would have thought that if anywhere, Inderes would focus on stocks. Inderes’ “normal” model portfolio does not invest in funds (although I don’t know if this is explicitly in the model portfolio rules?), and it is managed by men. You probably grasp this image, and I would like to hear what kind of discussion you had about the rules of the femme portfolio? Did you consider this negative image effect that is now being created by diminishing women and women’s so-called “hard” expertise? I believe, however, that Marianne and Kaisa definitely have enough expertise specifically in stock investing, and it would have been such a good way to encourage precisely in that direction, instead of showing an example that women should just dabble with these funds. The justification that with funds, the portfolio is more like a female investor’s portfolio is, in my opinion, a bit peculiar, although as a statement, it is true in itself. Model portfolios, however, are usually meant as inspiration for investors, and not the other way around, as this justification implies.

So, I would be very interested in these considerations behind including funds :slight_smile: @Kaisa_Vanha-Perttula & @Marianne_Palmu

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