Kicking things off with an informative panel on trading and investing that certainly demystified stocks, cryptos, and a lot more for us was amana‘s Chief Marketing Officer Joy Dabeet on the first day of Cosmo Careers 2023.
The marketing leader has 16+ years of experience in the area which made her the perfect choice for the first panel of Cosmo Careers 2023: Financial Feminism in the Digital Age, led by Milli Midwood, Head of Young Women’s Lifestyle at ITP Media Group.
Everything we learned from Joy Dabeet of amana’s Financial Feminism panel
The financial parity between men and women
Joy Dabeet began by addressing the audience about the financial parity between men and women across industries. She spoke about her regrets with regard to her own finances as she only began investing money in equities, ETFs or exchange-traded funds, deposits, and more in her late thirties.
What is amana and how does it help you take the first steps to start investing?
Let us take a minute to reintroduce amana, the all-in-one platform to manage your financial portfolio across diverse investments. The app makes it easier for beginners to test the waters of investing and become a pro in no time as it offers thorough tutorials for newcomers and helps them learn quickly. We will be checking amana out for suuuure.
Who runs the world? GIRLS.
Joy also gave us a boost of motivation to begin investing as, according to her, women are better investors as we are good at achieving long-term success in the market and are more cautious while making risky decisions that will pay off. It’s our time to shine, girlies.
Trading vs Investing
The difference between trading and investing may seem too small to notice for some, but it is important to know this. Putting money into an asset or a financial product that can give you profits in the long term is investing in a nutshell. While investing is a long-term financial activity, trading is more short-term and active, focusing on faster-moving markets.
Why depositing your money in a bank is just. not. enough.
Did you know, investing by depositing your savings in the average bank hardly makes you any money? This is because of inflation which sees the value of money going down, and in the UAE, the inflation rate is currently 4.5 to 5%. Hence, investing in bonds, ETFs, equities, derivatives, and other financial products is smarter than putting your money in a bank.
Compounding is awesome
“Compound interest is the eighth wonder of the world,” said Albert Einstein, and Joy Dabeet repeated his words to the audience to communicate to us how compounding can provide you with a much higher return than you originally invested. Basically, it multiplies your money. Doesn’t that sound great?!
Diversifying is key
“Don’t put all your eggs in one basket,” said Joy Dabeet, while talking about how it is important to invest in a variety of assets instead of putting all your money in one. To illustrate this, she talked about ETFs in depth which are, to simplify, a collection of equities of different companies whose shares may individually be volatile but overall balanced for minimum risk.
DO. YOUR. HOMEWORK.
Joy emphasized this point multiple times, BTW. Look at the price-to-earnings ratio of the companies you’re interested in investing in and observe their profits over the years. Start with what you know and invest in the companies you believe in. Read the news and stay updated.
Start small
Confidence is great but do not let it completely control your financial decisions. Start by experimenting with trading, take small risks, and figure out your risk appetite. That being said, it is important to start, fail, and learn from your mistakes early on in your career because of all the reasons we talked about above.
Powered by amana. Click here to register for the remaining Cosmo Careers 2023 panels (!!)