Investing is one of the best ways to turn your hard-earned money into wealth that works for you. But it can be a risky business. If the companies you choose to invest in thrive, so will your portfolio. If they flounder, you could lose everything.
Studies show that men are far more willing to take that chance. When it comes to money, men are less risk-averse than women, and it has earned them a reputation as financial daredevils who will put aside thoughts of possible failure or loss to go after promising investment opportunities.
Women, on the other hand, are more inclined to play it safe, creating a gender investing gap where men make the money moves in the investing market while women lose out on wealth-building by keeping their money in cash.
But there are a number of high-profile women who are kicking that norm to the curb and jumping into investing in a big way. One of them is Jennifer Lopez. A Grammy-nominated pop sensation known for her dazzling on-stage performances, Lopez banked $47 million of her $400 million net worth in 2018 alone, pulling in earnings from her albums, licensing, acting credits, and Las Vegas residency. Now she’s adding another stream of income with investing.
Just a few weeks ago, Lopez joined the list of celebrity investors that have contributed funding to Acorns, a fintech company that helps users automate their savings by rounding up debit, credit and PayPal purchases to the nearest dollar and putting the change into a savings account. But Lopez has been steadily growing her investment portfolio for some time now.
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