This is a multi-generational conversation that includes those not living anymore, and those yet to be born. Our experiences with money are non-linear. We carry with us the traumas and experiences of generations before and are impacting the lives of those yet to come. I, someone who has not born any children, am a stepmother to 3. My boys undoubtedly will carry forward my impact on them. My dear friends who are Aunties, both formal and informally, will carry forward impact on the young ones in their lives. How we influence the young people in our lives is critical, and it’s one of the leading conversations at the Wealth Catalyst Summit Oct 16th.
Understanding the imprint that has been left on you is one thing, knowing that you can make different decisions is another, and actually doing it is what changes the world around you.
Last week in Rockridge Sonali Kothari opened up her beautiful home, and Lotus Malana Wong designed a beautiful evening. Our champions at 1919 Investment Counsel Jennifer Evans, Erika de la Rosa Hennessey and Madelyn Ferreros, MBA anchored us in their lived experiences strengthening the trust in the room.
Many women in room when asked where they get their financial information from cited the men in their lives. Not because there aren’t brilliant women around them, its because of the socialization of those men to talk more about money. Women need more modeling and more normalization around our struggles, successes and the role money plays in our lives.
We also need to socialize more opportunities. Not just the investments that get the biggest headlines, but the ones that create a unique portfolio construction suited to our values, financial needs, and timelines. At the end of the evening someone came up to me and said, wow, it blew my mind that I could think of investments on a 3-5 year timeline. That, coming from the Bay Area, doesn’t surprise me. We aren’t talking about optionality and possibilites enough.
What you would have experienced in the room
One woman mentioned she had outgrown her fathers advice, unsure of where to turn. The other expressed dissapointment and frustration that a career in impact, has left little impact on her financial life. Another expresesd that she is expanding her legacy and focusing on preservation.
Next week the conversations continue. Women from all over the country are flying into San Francisco for our Summit October 16th. I am so excited to be with them all. Together, we will unlock wisdom.
