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Women and Money: Crowdsourcing Financial Advice

I was on Facebook recently when a former colleague who has just started a new job jumped in with a query about investment portfolios. “I need...

stock marketI was on Facebook recently when a former colleague who has just started a new job jumped in with a query about investment portfolios.

“I need advice on stock-picking strategies,” she wrote on her wall. “I want to feel more in control of my finances.”

Within minutes, a whole bunch of us who’d worked with her had glommed onto this thread. Turns out, she wasn’t alone. Several of us – seeing the cusp of retirement in the not too distant future – had taken a sudden interest in managing our money more wisely.

At some point several comments in, someone in the thread suggested that if my colleague was able to obtain the answer to this question, she could share it with the rest of us over drinks. (We’d pick up the tab.)

And then someone else had this brilliant idea: Why don’t we make a deal where one of us is put in charge of making these sorts of vital, grown-up decisions for the entire group on a six-month, rotating basis?

And just like that, the “Designated Adult” (DA) Club was born.

Read the rest of this post over on Better After 50

Image: Stock Market Indices by Karsten Reuss via Flickr

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