In her new book, “Does This Make My Assets Look Fat?: A Woman’s Guide To Finding Financial Empowerment And Success,” JP Morgan financial adviser Susan Hirshman compares wealth management to something women tend to be familiar with: dieting. After all, healthy eating and healthy money management share a lot in common; both require planning and discipline, and both produce results when done right. Here, Hirshman talks about the impetus for the book, how to discern between healthy choices and financial “junk food,” and her most crucial piece of advice for first-time investors.

Why did you decide to write a financial guide for women? What financial issues do women in particular tend to face?

Women tend not to be the breadwinners as they have oftentimes been out of the workforce to raise a family, and culturally it hasn’t been the norm for women to be involved in financial planning. Women are also living a lot longer than men; that combined with higher divorce rates means many women are forced to take a look at their financial situations after not doing so for much of their lives.

You compare maintaining a balanced diet to maintaining a balanced financial portfolio. From an investment perspective, what do you consider to be “junk food”?

Junk food is anything that sounds too good to be true. For example, anything that promises a consistent 12 percent return, or a tip like a small cap stock that’s going to be the next Apple. Anything that has you placing too much of your assets into something high-risk is never a good choice.

What would you consider to be some “healthy” financial choices?

In my book I relate each of the basic asset classes to the four basic food groups. Equities are like carbs and protein; they power your body. Cash is like fruits and veggies (but too much cash can be a bad thing as cash doesn’t keep up with inflation). Bonds are like dairy products; they can help build the “bones.” Alternative investments are like fats in that a little can go a long way, but not everyone can stomach the volatility.

What would you say to someone who feels completely overwhelmed by the thought of investing?

I hear you, I get it, you’re not alone! The number one reason people feel overwhelmed about investing is, where are we supposed to learn this? We don’t learn any financial advice in school. But there are resources out there to help you. It’s not going to take you hours to educate yourself and you’re not going to have to do it alone.
For savvier investors, my best advice is to understand your goals. Think of it as what are your “must-haves,” your “nice-to-haves” and your “aspirational” goals? Food and shelter are must-haves. Nice-to-haves are any extras, and aspirational goals are your big dreams.

Any advice for someone considering hiring a financial adviser?

There are three main things to keep in mind. First, if the adviser is always talking about themselves and how they do what they do, that’s a bad sign. If it’s not about you as an individual investor, that’s a sign that they will treat all of their clients the same. Next, make sure to ask them about their process. You want to know how they decide what’s right for you and why.  Finally, make sure you feel comfortable with them. Money is a sensitive topic and you need to feel comfortable with this person. A great way to find a financial adviser is to ask someone whose profile looks like yours—they have a similar job, live in a similar home, etc. If you don’t know anyone like that to ask, try your accountant or your lawyer for a referral since you already trust them with your sensitive information.

Do you have one overall piece of advice for first-time investors?

Do it sooner rather than later. Too many bad things happen to good women. In the wake of this last financial crisis, I heard a lot of, “if I only knew…” Don’t be a part of the “if only” crowd.