When it comes to managing their investments, only half of Canadian women say they are satisfied about their investments, 49% say they feel concerned or often worried.

That’s according to the results from a survey by TD Waterhouse Canada Inc.

And the other half? Forty-nine per cent say they feel concerned or often worried according to the 10th annual TD Waterhouse Female Investor Poll which surveyed women aged 45 to 64 who share in the responsibility of their household’s finances.

According to Patricia Lovett-Reid, senior vice president, TD Waterhouse, women don’t realize they have more power to shape their financial futures than they give themselves credit for.

“The first step is deciding to take action,” Lovett-Reid says.

She offers the following steps to motivate women to take charge of their financial happiness:

1. Build a team of trusted advisors
Those who seek professional advice are far more likely to have a financial plan (60%) than those who do not (16%). Those who have a financial plan are more likely to feel financially successful than those who do not (84% vs. 54%). Even for self-directed investors, a second opinion can be beneficial.

>2. Invest early
Ninety-two per cent of women polled agree with investing as early as you can. However, only 33% contribute to RRSPs. The power of time and compounding is further enhanced through the tax deferred growth of an RSP account.

>3. Invest often
Only half of women say they follow a budget. People are always surprised by how much they can cut their discretionary spending. Invest your new found monthly savings through a systematic investment plan.

>4. Learn more, earn more
Women are becoming increasingly financially independent and seven in 10 women now have investments in their own name. As with everything in life, when it comes to investing, knowledge is power. When you have a deeper understanding of the economy and the workings of the financial markets, you are better placed to implement investment strategies that could improve returns while reducing risk.

>5. Be disciplined
Volatility in the markets can put you through a roller coaster of emotions. From fear and panic to optimism and euphoria, don’t let emotions dictate your decision making and stick to your investment plan.

The TD Waterhouse Female Investor Poll surveyed 1,010 adult women aged 45-64 who share in the responsibility of planning the finances for their households. Results for this study were collected through an online survey of Canadian women investors by Environics Research Group, conducted between August 20-27.

IE