Women in Business Hear Biondo Advice

- Pike County Dispatch

Milford, PA November 10, 2005 - Joseph P. Biondo, Chief Operating Officer and Senior Portfolio Manager of Biondo Investment Advisors, Milford, Pennsylvania, recently addressed 72 participants attending the Women in Business Workshop conducted at Cliff Park Inn, Milford, on November 4, 2005.

The highly informative event was part of the Pike Chamber Series, which sponsors workshops on varying subjects throughout the year. Attorney Stacey Beecher Chelak, Milford, introduced Biondo, who spoke on the topic of "Women and Investing."

Biondo delivered several key messages to the women gathered in the sunlit dining room. "The world of investing DOES concern you, as women," he urged. "Each of you has the ability to be a good investor and we want to help get you started on the path."

When it comes to investing, women face certain realities that men do not. Biondo presented statistics to support this claim, including the fact that the average woman's life expectancy is 85 years and increasing, while the average man's is just under 80. In addition, women still face earning power differences. Women typically earn 80% of what a man earns in the same job.

Biondo pointed out that women must prepare financially for a longer life. "Women need a higher percentage of savings, better investment results, or both. If you don't, you'll need to work longer or live on less income during retirement," he cautioned.

Biondo went on to dispel several "myths" in the world of investing. The first, the belief that "someone will take care of you," is not supported by the evidence. "Twenty percent of women never marry; 40% of marriages end in divorce; and 50% of women will outlive their spouses. The result is that 90% of women will be individually responsible for their own financial security," explained Biondo.

And for those who believe that they don't have enough money to start investing, Biondo gave examples to illustrate how investment success is determined by the amount of time one invests, more than the amount of money. "It's never too early to start investing," Biondo noted.

Participant Ellie Wolfe, owner of Ellieogant Cakes, Shohola, PA, agrees. Her father started her on the investment path years ago while she was in her teens. "It's really important to begin and to be consistent," she points out. "Women need to set aside a regular amount of money and invest it or we'll be working into our 90's."

Wolfe has already helped her 12 year-old daughter to take her first steps along the path to a better financial future. "A parent's role in their child's financial future is significant. Start when your kids are young," she says, "but most importantly, get started and stick with it!"

Biondo believes that women possess most of the qualities that make one a good investor-discipline, good organizational skills, consistency, patience and a sense of intuition. He urged that, in addition, women need to seek good advice and to heed it.

In soliciting such advice, Biondo encouraged attendees to interview at least three potential investment advisors and to choose the one that asks appropriate questions and understands your individual needs. "It's important to tailor a plan to your individual needs. Be sure you're being listened to and trust your intuition," Biondo advised.

The session concluded with a question and answer period and participants were provided a list of suggested readings targeted specifically to women and investing. Susan Hines, of GMAC Mortgage Corporation, closed the morning's event with thanks to Biondo and all the women participants.

ABOUT BIONDO INVESTMENT ADVISORS

Biondo Investment Advisors, LLC , a SEC Registered Investment Advisor, is an independent, research-driven, client service-oriented investment management firm. Their focus is on creating and preserving wealth for foundations, institutions and individuals and their families. To find out more about "The Biondo Advantage," call 877-BIONDOS (877/246-6367) or visit www.thebiondogroup.com.