Do you get freaked out when dealing with money? I do. I’ve spent years being a passive investor, judging myself as unqualified to manage my money. This morning I took that fear leaned in. I completed transferring money from a long-ignored retirement account to Ellevest. I found Ellevest on social media.
Their goal is a no brainer, “put more money in the hands of women”; I’m a woman and I want more money. Ellevest is an investment firm focused on women led by founder, woman and CEO Sallie Krawcheck. She founded the firm in 2014 based on a “mascara moment”. The realization hit as she spruced up for her day.
“Holy camoly (ph), the gender investing gap – men are investing more and therefore over time getting more of the returns that the market provides for them. And that difference is the gender investing gap. You know, nobody’s talking about it. It can be as big for some women as the gender pay gap. And it’s solvable. It’s actually solvable.”
After checking out Ellevest, I was motivated. The company is a fit. I researched a bit and finalized my decision because:
1. I love their branding.
2. Ellevest is approachable.
There’s a ton of resources on their website. The literature isn’t dumbed down nor is it pink-thank you for that Ellevest. The online magazine is sleek easy to navigate with how to articles and current trend information. I just finished Smart Money Moves for Every Age.
3. Ellevest is addressing some long ignored inequalities head on.
Simply put, women don’t invest as much as men do. And they don’t invest as early as men do, either. Of all the assets women control—both inside and outside their portfolios—they keep a full 71% in cash, according to a survey by BlackRock, whereas men hold 60%. Cash may feel like zero risk, but it also has zero potential to grow as stocks do over time. And even with low inflation, the purchasing power of that cash will decline over time. So the price of certainty you get with cash is high. – Sallie Krawcheck for Time.com
“Money is power. Invest like a woman.” -Ellevest
Check out more information
Ellevest’s Sallie Krawcheck On Getting More Money In the Hands of Women |Investor’s Business Daily
NPR story featuring Krawcheck.