We got a lot of requests for this week’s podcast episode

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Today we’ve got Sallie Krawcheck, widely regarded as one of the most senior women on Wall Street, who founded the women’s investment firm Ellevest. We’re talking money, and the differences between how women and men are socialized to think about investing; the most common mistakes women make with money; and the importance of knowing how to negotiate. The episode is full of interesting insights and solid strategy and practical advice, so do listen in, on Apple Podcasts, Spotify, Stitcher, or wherever you get your podcasts.

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12 Thoughts on We got a lot of requests for this week’s podcast episode
    Nadine
    7 Oct 2020
    8:54am

    Great podcast! Thank you! I loved your question about conscious investing Kim, I am very interested in learning more about it but I’m struggling with finding information that seem trustworthy.

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    kb
    6 Oct 2020
    5:23pm

    Thank you for this! Excellent information, and a great refresher for those of us who haven’t always kept up with financial planning. But I was taken aback by Krawcheck’s 50-30-20 budget rule. Spending only 50% of income on “needs” (rent/mortgage, transportation/gas, food, utilities, medical/insurance) must be a percentage for the very wealthy!

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      cw
      7 Oct 2020
      7:56am

      I agree, kb, I was put off a bit with that formula. It isn’t that I disagree with her formula, but I felt it was a tad out of reach for many women. There are financial advisors who only work with people of a certain income level. Another hurdle to jump when looking for a financial advisor. Mine works with everyone because she feels it is so important for women to understand their finances so I know there are those advisors out there.

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    Caryn
    6 Oct 2020
    12:27pm

    This might just be one of your most important episodes yet! As someone who abdicated responsibility for finances to my banker ex-husband for 21 years, I didn’t start learning about money until I divorced at age 49. I literally knew nothing about our finances, and even less about what to do with the money I received in our settlement. It was a completely humbling (but ultimately empowering) experience to sit with a financial advisor and request that he start with the basics.

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    cw
    6 Oct 2020
    2:27pm

    This was a great podcast. I sent it to my own (female) financial advisor because she is ALL about teaching women how to invest. The one thing Ms. Krawcheck did not bring up, but I have found to be essential is you MUST have complete trust in who advises you. I went to several advisors for interviews before I found Kellie, the woman I work with, and didn’t go with any of previous possibilities because I didn’t feel comfortable talking to them about money which is, of course, ludicrous. Not only does Kellie make me feel comfortable asking idiotic questions, but she also really listens to me––her patience is phenomenal .

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    Jenny
    6 Oct 2020
    4:13pm

    Thanks for this podcast. I’ll be revisiting it weekly (at least) as I negotiate my divorce settlement to remind myself that the money I am seeking absolutely is mine and that my financial stability and future is worth fighting for.

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    Remy
    12 Oct 2020
    2:09pm

    Thought about this episode this past week while doing a Biden text bank. Writing back and forth with an undecided, and I’m assuming male (due to first name) voter whose top concern was about his financial gains to be made in a Trump vs. Biden presidency. It never ceases to floor me that this would be someone’s top concern . Yet it is the very socialization your guest was speaking of in this episode that brings me to care more about others than myself and for him to be busying himself crunching numbers to see where he will come out richer. If we all survive this election and global warming and Covid it seems the future will need to addresses how to help Americans find a balance between helping others AND securing of our own finances.

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    Leah
    6 Oct 2020
    12:53pm

    I love Sallie Krawcheck! I saw her speak a couple years ago at a Network of Executive Women event. She is both brilliant and funny. Great get for the podcast!

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    Mae
    7 Oct 2020
    12:34pm

    A money podcast with someone who didn’t grow wealthy by earning a huge salary and getting huge severance packages would be more insightful than this one was. And I don’t get how anyone can not understand their own finances (Tally, honey, whaaaat?). Bills arrive in the mail monthly and must get paid. Those bills were incurred mostly via one’s chosen lifestyle, punctuated by unexpected expenses. Is it rocket science to realize that you’d better save some money along the way? No. And if an investment doesn’t make sense to you, don’t invest in it and don’t get caught up in thinking about how much money you could have made if you’d done so. No financial advisor will recommend anything simple, but there’s no shame in just having an interest-bearing savings account or money market account — the point, my darling GOACAs, is to not blow every cent you get your hot little hands on. What I’m earning monthly on a money market account right now won’t buy one decent pair of shoes, but the cash is not in my checking account, which keeps it safe from my many temptations. I once lost money through investing in something I didn’t understand, which was recommended by a financial advisor (I’m still mad at him), but it taught me an important lesson: Earning a few bucks in interest every month beats losing a large chunk of it any day. I don’t care if it’s not outpacing inflation, because I can always cut back on my spending. Cash Is King, ya’ll.

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      Lara
      7 Oct 2020
      1:43pm

      I have to respectfully disagree. Many GOACA-aged individuals, even those that were able to do an excellent job of planning for retirement, did so thinking that interest rates would be much higher than they are today. What someone considered a decent nest egg a short time ago may very well not generate an adequate level of income sitting in money market at today’s rates (at 0.5% interest, $1 million in money market pays you$5,000 a year). Rather than avoiding investments that you don’t understand, I would suggest you find someone you trust (as others have suggested) and ask questions until you do understand. And then make an informed decision. Looking forward to listening to the podcast.

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      Tally
      7 Oct 2020
      5:33pm

      Mae, honey, there are many thing I don’t understand about other people.

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        Mae
        8 Oct 2020
        11:58am

        Lara and Tally, points taken. XOXOX -Mae

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Kim France

I was born in Houston, Texas in 1964 and have lived in New York City since 1988. I had a long career in magazines, working at Sassy, Elle, New York, and Spin, and in 2000, I founded Lucky magazine, which I edited for ten years.

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