For several years, I've been speaking and conducting workshops at financial conferences across the country. And for the lion's share of that time, I have looked out upon an audience of mostly retirees - comprised primarily of men.

Boy, times are a changin'! I recently returned home from the San Francisco Money Show, which reinforced my suspicions from the last few conferences. My workshop attendees are definitely getting younger and younger. And I was absolutely amazed to see participants as young as their early 30's. But what warmed my heart even more, was to see the turnout of women investors.

What seems many lifetimes ago, but was actually just 16 years past, I worked in the banking industry. I loved meeting the public, but often, I found myself comforting and assisting a recent widow who had absolutely no idea of how much money she and her husband had in the bank, what kinds of accounts she could access, or if they had a brokerage account.

I became so angry, and felt increasingly frustrated that these women had not taken charge of their financial futures - either because their husbands wanted to 'take care' of them, or just because the women themselves had no interest in finances. Unfortunately, both choices left women in a bind when their husbands predeceased them.

At that point, I decided to do something about it. I began by lecturing every woman customer who sat in front of my desk (imagine how that went over!). Then, I started on my baby-boomer friends and relatives. They tolerated it a little better since many of them were of an age and had the opportunity to begin investing as a result of their employers' 401K plans. And secondly, most were frightened and confused with their array of choices.

At about this same point in time, I started my first investment club - all women. Wow - what an awakening that was! Many of the women were 20 years or so older than me, could easily calculate the 10% discount at Macy's Department Store, but had never worked a computer and didn't balance their own checkbooks. It was certainly a learning experience.

What I found out was this: Women are not dumber than men about finance and numbers; we just haven't been as exposed to them. Our parents talk much more readily to their sons about such things. And then our husbands take the lead. While we appreciate that our loved ones want to take care of us, it's just not a good idea. Why?

• At some point in our lives, 9 out of 10 women will be solely responsible for their finances
• The average age of widowhood in the US is 56
• On average, women live 7 years longer than men
• Women live more than 19 years in retirement
• The median income for elderly women is $8,189
• Women collectively earn more than $1 trillion a year
• Nearly 70% of women say they have no idea how much money they'll need for retirement
• 53% of women are more likely to spend rather than save for their future

Conclusion: You can see that while we are earning money like never before, we are spending, rather than saving it, and we will need more money tucked away for retirement than the average man. These are reasons enough to begin learning about finances - and sooner, rather than later.

I've been researching this issue for a number of years and it didn't take me long to realize that although men and women need to reach the same place (retirement with a comfortable income), we often have dissimilar goals and go about fulfilling them in very diverse ways.

1. We often don't set a monetary goal for where we need to be at retirement. Now, most men I know will readily tell me exactly how much money they think they will need upon exiting the workforce.
2. The last person we take care of is ourselves. We start saving and investing later (usually after a crisis like divorce or death) and don't have as many working years as men. The average woman spends 15% of her career out of the paid workforce (the sandwich generation - caring for children, then elderly parents).
3. 76% of women are too conservative when it comes to investing, where only 64% of men (and from my personal experience, I truly believe that number is too high) consider themselves conservative investors. Women often pass up excellent investment opportunities, because we are too afraid to take the leap.
4. Just 53% of women, versus 82% of men feel confident in their investment know-how. That often stops us from making necessary decisions, also limiting our returns.

Arming myself with these statistics while becoming even more impassioned about getting the message to women, I finally decided if the women wouldn't come to me, I would go to them. Consequently, I designed a workshop primarily for women investors (although, that doesn't stop the 10 or 11 men who always show up!).  

In the workshop - I admit it - I try to scare women into jump-starting their investment portfolios, pressing the need for action right now. Once they finally see the need, then I can give them some valuable information for setting up their own strategies and goals. Tips such as:

• Make a list of what you own: Bank accounts, stocks and investments, real estate, retirement plans
• How much do you owe? Consider all of your bills: Automobile, credit cards, school loans, house payments, etc.
• How much do you pay out monthly? Here's where it gets a little tricky, as most people would only count the large bills like mortgage, utilities, and car payments. But I caution you not to forget about groceries, clothing, dry cleaning, hair salons, subscriptions, insurance and entertainment. Oh, yes, don't forget your daily Starbucks habit!

So now you know how much you make, how much you owe, and you should have a pretty good idea as to how much left over you will have each month. What to do now? START INVESTING!!! The following steps are essential for any investor - male or female:

Determine your risk profile and your investment goals. I talked about these in my July 11, 2006 Financially Fit article, so go back and refresh the steps you need to take.

Investigate investment opportunities before you jump into them. Hot tips are just that - tips only; it's up to you to research them thoroughly. Most women don't have a problem with this. If you are like me, you go to every store in the mall just to make sure you are getting the best price, so do the same thing with potential investments - check them out!

Invest for the long-term. Again, most women like this anyway. Statistics show that men trade stocks 45% more than women - and you will love this one (sorry, guys!), but all-women investment clubs outperform all-men clubs by 11% and co-ed clubs by 5%. Why? Because we research more and trade less often!

Buy only investments that you can explain to your 85-year-old grandmother. If you don't understand it that well, stay away.

Set aside funds to invest every month and discipline yourself to follow-through.

Diversify your portfolio by size of companies, as well as industries. This is the 'don't put all your eggs in one basket' rule.

If you don't feel comfortable beginning your investing life on your own, consider starting or joining an investment club. For more information, see the NAIC's web-site: www.better-investing.org.

As time goes on, I know that I am reaching more and more women investors, but I fear that I am just touching the tip of the iceberg. And I want to reach every woman!

So, please get started and share this article with a friend. A great source is probably sitting across the lunch or dinner table from you, and will be only to glad to share his or her knowledge and insight with you. But remember, this is your financial future, and while you should accept all tips and sources of knowledge, it's up to you to determine which is the best investing strategy for you. Go get 'em!