Fashion Walks, Money Talks

You might be skeptical if promised an immediate 100% return on your investment.

Maybe not if you were thinking fashion.

Fashion consultant Susan Hill and her staff recently pulled together several examples of how pieces could be worn at least two different ways during a show at Bloomingdale’s in Newport Beach.

But there was more than clothes talk at this “Fashion and Finance” seminar.

In between the models’ strolls down the catwalk in career wear and resort wear, Heidi Sammons, a second vice president with Smith Barney Inc. in Newport Beach, told the audience how to increase their financial holdings.

“Women need to build a financial portfolio as they would build a wardrobe,” Sammons says. “Just as you don’t have only one blue suit, which is great for an interview or client meeting but not great for a cocktail party or a movie, you shouldn’t just have one stock or mutual fund.”

Sammons says women need to be especially diligent because they face different financial challenges than men. For one, women tend to leave jobs before men, which decreases their pension. Also, women have historically earned less money than men, so they need to augment their salaries with wise investments. And women live, on average, seven years longer than men, magnifying their need for a retirement plan.

Sammons conducts her “Fashion and Finance” seminars, which include strategies on the new tax laws and the Roth IRA, every three months. For information on the next one, call (714) 717-5462.