Liliane Bettencourt

For every woman plotting ways to find a rich husband there are ten more wondering how to build their own wealth. Especially at this tax time of year when we are face to face with our financial realities, many of us think, "There's got to be a better way."

MAKING THE LIST

On Forbes' billionaire's list for 2007, 78 women made the grade, ten more than the previous year. Of those, only six are self-made with Oprah Winfrey and J.K. Rowling among the few with authentic rags to riches stories.

Many of these billionaires are really billion-heiresses such as Liliane Bettencourt, the richest woman in the world with $20.7 billion, who inherited her father's L'Oreal beauty empire or the next women on the list who are all related to the Wal-Mart fortune either by marriage, Christy Walton, or family, Alice and Helen Walton. Weighing in at $13 billion is Abigail Johnson who actually has an active role in her grandfather's Fidelity Investments, America's largest mutual fund company. The only woman in the top ten richest women without an inheritance base is Cristina Green who helped build the British retail empire Arcadia with husband Philip.

Abigail Johnson

We can also look at pioneers like Meg Whitman who took the helm at eBay in 1998 or China's richest woman Yan Cheung who is the co-founder of Nine Dragons Paper Holdings, a company which turned waste paper into a boxing empire.

What you will find in common in lists of wealthy women, such as the richest women in entertainment, is that it is not just high priced salaries which land them there. Many stars have branched out into multimedia enterprises like Jennifer Lopez who has a perfume and fashion business or Gisele Bundchen the Victoria Secret model who made a fortune with a certain body part… her feet. She has a hot selling line of sandals in Brazil.

SEPARATE BUT EQUAL?

So why is it that women often find it harder to make money and build wealth than men?
According to research at Merrill Lynch, women are starting businesses at twice the rate of men. Are we disillusioned because of the corporate world where women still don't make as much of their male counterparts or are "mommy tracked" because of child bearing and rearing responsibilities? Or in terms of building wealth, are women more risk averse or defer to a man to handle the financial matters?

Oprah Winfrey

Lois P. Frankel Ph. D., author of "Nice Girls Don't Get Rich: 75 Avoidable Mistakes Women Make with Money," believes the mentality starts young. "Without your awareness, behaviors learned as a girl are preventing you from becoming a woman who is financially independent and free to follow her dreams." Many of the mistakes she describes will resonate with women such as spending as an emotional crutch or not being comfortable asking for the salary or fee you deserve. The questions she asks range from "Do you balance your checkbook every month?" to "Do you have a plan to survive financially if something catastrophic were to happen?" She urges women to examine how they earn, spend, and save money, and what the attitudes are surrounding those practices.

WEALTHY WOMAN OR RICH BITCH?

Even attitudes in general about money and about rich people subtly affect our psyche. Is she a wealthy woman or a rich bitch? Do we believe that rich people got there through ill gotten gain, long hours which prevented any quality family life, or do we have a real us and them mentality?

JK Rowling

Louise Hay in her best-selling "You Can Heal Your Life" also points out the influence our attitudes and beliefs about money hold, using phrases such as "Money doesn't grow on trees," and "Money can't buy happiness," and even "Shop 'til you drop." She uncovers subconscious attitudes and stories we buy into such as artists having to struggle or a woman having to be ruthless to make it to the top. Hay urges us to take a spiritual approach and realize the universe is lavish and abundant and it is our birthright to be supplied with everything we need. There is no set sum to the divided up. There is no sense of "deserving." "I have found it easier to teach a seminar on sexuality than I have on money," Hay relates, "People get very angry when their money beliefs are challenged."

She encourages being open to new avenues of income and unexpected sources. She even encourages us to kiss our bills to acknowledge it is our good credit which allows us to receive goods and services without paying up front. I don't personally want to kiss the LIPA bill, but my home equity line of credit has been a god send at times.

DOLLARS AND SPIRITUAL SENSE

"Money never seems to be neutral," says financial advisor Rosemary Williams in her book "A Woman's Book of Money & Spiritual Vision." She believes we have attitudes developed from our families, friends, religions, schools, and the media. In her workbook she sets out specific steps such as examining emotional beliefs about money, gathering all of one's financial data, calling in expert help, and bringing things into alignment. "In simple terms alignment is balancing our needs and wants with our values and goals." Her last steps include thinking outside the box and dreaming big.

As a financial advisor to high net worth clients, Dan Hunter of Raymond James – IP Strategies Inc. points out another very important role of women and wealth, namely that of philanthropy and literally using money to make the world a better place. "Our clients are a blend of traditional businesses and new wealth stemmed from the age of technology," he relates, "The 'new wealth' families are much more cohesive and the woman often plays a key role in components, especially the philanthropic space. I believe traditionally women are more compassionate about giving back, and we see this with our ultra wealthy families where they move to create foundations to share their success with their respective charities and communities."

So why not dream big, believe we deserve great wealth, and have faith that we can do it all while enjoying our lives and helping others. Go ahead and insert your own name on that Forbes billionaire's list. Just don't tell the IRS.