WHAT IS THE CURRENT STATUS OF WOMEN’S WEALTH? – BUSINESSWOMEN BREAKFAST ZOOMS IN ON WOMEN’S INVESTMENTS
According to Cornell Meeks, Head of Private Wealth at Nedbank, the distinction between being wealthy and rich lies in one’s mindset. Speaking at the Economist Businesswoman breakfast on July 21 at Am Weinberg, Meeks emphasized that fear should not hinder the pursuit of dreams and aspirations. Taking the step forward and continuously progressing is crucial.
Meeks clarified the difference between being rich and wealthy, stating that richness involves short-term goals, instant gratifications, and keeping up with societal norms. On the other hand, wealth is about ensuring long-term stability and security, leaving a lasting legacy. Fear management plays a pivotal role in this distinction, as Meeks highlighted the importance of handling fear to prevent the suppression of genius.
To embark on the journey towards wealth, Meeks advised setting goals, planning actions, and seeking guidance from wealth managers or advisors. Living within one’s means is a common trait among wealthy individuals, as overspending and high debt are viewed as obstacles to wealth growth.
Meeks presented statistics indicating that women control 32% of the world’s wealth, and their investment decisions often align with their values. She noted the increasing representation of women in director roles on S&P 500 boards, suggesting that women will play a significant role in shaping the future of wealth and financial markets.
At the breakfast, attendees, predominantly women, expressed agreement on the importance of supporting each other’s endeavours and avoiding skepticism. The forum, organized by Desere Lundon-Muller, provides a platform for the exchange of ideas and expertise through planned networking. Meeks is set to be the guest speaker at the next event, focusing on topics such as identifying and changing one’s wealth mindset, money psychology, and archetypes, and how financial wellness benefits individuals and organizations.
Meeks, with over 20 years of experience in senior positions within the banking and wealth management sector, is expected to delve into the intricacies of women’s wealth management, emphasizing strengths and weaknesses. The breakfast club aims to advance the personal development and management skills of its members, contributing to the empowerment of women in various professional fields.