As we celebrated International Women’s Day this week, I want to share this quote that inspires me thinking about women and finance:
“Here’s to strong women. May know them. May we be them. May we raise them.”
It is important to recognize and celebrate the women who have helped shape each of us into the people we are today.
May we know them.
I hope most of you reading this blog can share in my sentiments saying thank goodness for the women in our lives. Whether it has been your mom, sister, wife, friend, mentor or teacher, women have had an impact in shaping each of us in to the people we are today. Women in my life have inspired me to dream bigger, love deeper and keep going and, most importantly, supported me every step of the way.
Each day women are making incredible progress in terms of representation in finance, something that inspires and shapes how I approach my work. This progress wouldn’t be possible without the women who came before them. Here are some finance foremothers that helped (or are helping) pave the way:
- Maggie Lena Walker: The first African American woman to found a bank and serve as its president
- Muriel Siebert: the first woman to own a seat at the New York Stock Exchange
- Janet Yellen: the first woman to lead the Federal Reserve and Treasury Department
This does not represent the full list by any means and the list is an incredibly simplified version of what they have accomplished (or are accomplishing). Each of these women (and more) were met with “no” many times before they heard “yes” and changed the course of finance for each of us. I implore each of us to learn more about our finance foremothers and talk about their stories because they are incredibly inspiring tales.
May we be them.
As the youngest (and shortest) of four children, there was little choice but to be strong and find ways to be “seen” in our family. There was no way I was going to be left behind. I still carry that determination with me today and aim to surround myself with women who ask questions, share their opinions, challenge the status quo and take an active role in their finances.
Since TCI’s founding in 1990, empowering clients and employees has played an important role in the firm. Building confidence through education is a core pillar of TCI. As clients go along their journey with TCI, our advisors work with them to make sure they understand and are comfortable with what’s happening with your financial plan. We believe that educated clients, no matter of gender, make better investors.
As an employer in financial services TCI empowers women by helping break the bias. Women play an instrumental role as department heads, advisors and represent a guiding voice for the firm as shareholders. At TCI, our aim is to have women be a part of all client meetings; having a diverse group of people and voices make better outcomes.
May we raise them.
Talk to your daughters, granddaughters and nieces early and often about finances and investing. Involve them in conversations so they become comfortable talking about money and knowing their voice matters. Educate them on what it means to be an informed investor and teach them how to save. Then empower them to invest early to capitalize on compound interest. Share what you would have done differently knowing what you know today.
We’re on the cusp of one of the next great financial events in history, the great wealth transfer. Over the next number of years an estimated $30 trillion dollars will be passing from older generations to younger generations, and women are expected to inherit a large portion of the sum. All of this will be happening as women continue building their own wealth. This is an incredibly exciting time for women and finance, and I am excited to see the continued financial progress of women across the globe.
I am proud to be part of a firm that is fostering an environment where every voice matters. In a historically male-dominated industry, we encourage women to continue breaking barriers. May we all make room for the perspectives of others and this week take time to celebrate the women in our lives.