Over the years that I’ve dispensed financial advice, I’ve never distinguished much between the genders. It’s always been my attitude that an investment approach which suits a man should equally suit a woman. I’ve reasoned that a dollar in the hands of Jack is no different than in the hands of Jill, inasmuch as they both tumble down the hill together.

It appears, however, that I’ve been overlooking something. A provocative book by Lois P. Frankel, PhD, a business consultant and psychotherapist, titled Nice Girls Don’t Get Rich: 75 Avoidable Mistakes Women Make with Money, points out numerous factors that my male chauvinist focus fails to consider. She explains that “Our [women’s] real roles revolve less around money and more around relationships,” adding that “throughout our lives we’re given multiple, often conflicting, messages. This double bind causes little girls to limit their interest in acquiring wealth.” She further stresses that “if you don’t think rich, you certainly don’t consciously engage in behaviors that will contribute to getting rich.” (more…)