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Women and Finance – Prof. Alexandra Niessen-Ruenzi in ZEIT Magazine

The article titled “Keine Frau braucht rosa Finanzen” (No Woman Needs Pink Finances) (14 July, ZEIT ONLINE) discusses the financial insecurity faced by women compared to men and how this has led to the emergence of female-focused financial advisory services. The authors, Marilena Piesker and Sina Osterholt, emphasize the role of Prof. Alexandra Niessen-Ruenzi, holder of the Chair of Corporate Governance at the University of Mannheim, who studies gender-specific differences in financial markets.

The article highlights that traditional financial advertising has often excluded women or relegated them to passive roles. The authors reference Niessen-Ruenzi, saying that women have been overlooked as capable investors for over 50 years. Consequently, fewer women participate in the stock market, which leads to lower financial security in retirement.

While the financial industry is now recognizing women as an underserved and lucrative market segment, the authors question the efficacy of female-targeted financial advice. The article discusses various platforms and influencers offering financial advice tailored to women, often with high costs attached. However, experts like Niessen-Ruenzi suggest that financial education through conventional channels like adult education centers (Volkshochschulen) may be more reliable and affordable.

The authors argue that rather than relying solely on female-targeted financial advice, women should seek reputable and certified sources of financial education to empower themselves in managing their finances effectively. The article concludes by emphasizing the importance of financial literacy for women and challenging traditional gender norms associated with financial decision-making.

Find the article here (German only).

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