Press Releases

December 15, 1995
NCWRR AND EAST END 21: A WOMEN'S INVESTMENT CLUB

Contact: Virginia Bennett
(516) 287-8313 phone
(516) 283-4081 fax

A group of East End women with diverse backgrounds and of varied ages have come together with the common goal of learning all they can about finances and investing. To do this they have formed an investment club, East End 21, through the National Center for Women and Retirement Research at the Southampton Campus.

"We knew that finding interested members of a women's investment club would not be difficult", said Dorothy Clarke, Director of the NCWRR. "Our extensive research on women and finances and the reported successes of such investment clubs elsewhere point to a growing interest among women in shaping their own financial futures." The first meeting was held on Monday, December 4, at the Southampton Campus. The club's name, East End 21, is a nod to the group's movement toward financial security and independence as the 21st century nears. The club has 23 members whose ages range from 21 to 71.

Some members came with previous investment experience, others have inherited stocks about which they know nothing, and some are just diving in with a goal of learning all they can through this group effort.

Ms. Clarke, addressing the group the first evening, said the combined efforts and support the group can offer members is the big advantage. The research shows that most women are interested in investing but don't have the self confidence to take the first step. Women have ventured into the mutual fund arena but not into ownership of individual shares of stock.

As a monthly assignment each member will be responsible for researching and then presenting at least one stock during the meeting. The group will decide by majority vote which stock or stocks to invest in that month. Each member contributed a $100 initial fee to jump start the kitty and agreed to deposit $50 per month toward the investments.

"Women of the coming 21st Century are bridging the knowledge and investment gap between men and women," Ms. Clark said. "Investment Clubs for women will play an important role in educating women about the stock market."

Each monthly meeting will have an educational component such as a lesson on how to read and understand the Value Line. Marilyn Crockett, a Certified Financial Planner who is first vice president for investments at Paine Webber in Manhattan, will act as the group's advisor and investor. Ms. Crockett, one of forty NCWRR licensed representatives, conducts financial workshops for the National Center in New York City.

Since 1986 NCWRR has conducted landmark studies on the pre-retirement planning needs of women. Established with a grant from the Administration on Aging, Department of Health and Human Services, NCWRR offers seminars throughout the country on the financial planning concerns of women through its PREP Program. To date over 136,000 have contacted the Center to participate in seminars or use its self-help materials.

For further information on the National Center for Women and Retirement Research at the Southampton Campus of Long Island University call 800-426-7386, (516) 283-4809, or fax (516) 283-4678.