Ellevest’s Post

The financial industry was built for men. We say this a lot, but implicit in its meaning is that the financial industry was built for straight, white men. So much of common financial advice, especially for couples, assumes heterosexuality as the standard. (Much like, you know, most things in the world.) But there can’t be a one-size-fits-all approach to financial planning for all couples, because the lives of LQBTQIA people are just different — which means they have different financial needs and realities. If you’re joining your life with someone else — no matter how you or they identify — we encourage having money convos early and often. But there are a few conversations that are especially important for LGBTQIA couples. Here are five things to talk about with your partner (and your financial planner), ASAP:

Trust us, Cameron Rogers, CFA and Emily Green have heard it all. Breaking up with your “just fine” financial advisor can be tough, but you (and your money) deserve better than decent. You deserve a financial advisor who really listens to you — and doesn’t subscribe to a one-size-fits-all approach. Switch to a firm that puts you first. Learn more about Ellevest Wealth Management at https://lnkd.in/dnm_KcU.

The financial industry is overwhelmingly male-dominated, with 86% of financial advisors being men and 98% of mutual funds dollars being managed by men. That’s why we created Ellevest, a financial company where 100% of our financial advisors and planners are women. Learn more about our investing and wealth management services at Ellevest at www.ellevest.com.

Who needs an estate plan? You do. When do you need one? Now. Even if you’re not retired, everyone can benefit from having an estate plan. Especially women. Because women largely outlive their spouses, and then become responsible for figuring out the best way to manage their household finances. Because more women have custody of their children than men, and because more women are caregivers for their aging parents, too. If something happens to us, the dependents who rely on us might be in a tough financial situation and without a guardian. Because women earn less than men — and women deserve to have control over their legacies, too. The list goes on. Read how to get started with estate planning at the link below.

Deciding whether to have a child is a complicated, expensive, emotionally fraught journey — especially if you’re also trying to work on things like your career, retirement planning … the list goes on. Ellevest Financial Advisor Cameron Rogers, CFA is going through her own family-planning journey — and has some advice: She also recently co-hosted a family-planning webinar with Ellevest Financial Planner Darci Zaunmiller, CFP®, CDFA® and VP of Employer Growth at Maven Clinic, Isha Vij, which you can watch here in full: https://lnkd.in/eb9FdzTC

The first days, weeks, and months of widowhood are so hard. And it doesn’t help that they’re also filled with plenty of questions to answer and decisions to make — many of which have to do with money. Here’s some advice from Ellevest Private Wealth Advisor Ashley Bleckner, MA, CFP®, CDFA® on how to handle finances in the aftermath of losing your partner: https://lnkd.in/eWaga2HA.

"When we say the quiet part out loud, it’s not just us who benefits, but everyone around us does, too. And that goes for any topic society has tried to make women feel small about: money, menopause, motherhood."

We know it can be tough to talk about inheritance — especially before the death of a loved one. But it’s one of the most important conversations to have with your family to prepare them for what’s to come. Here’s how Ellevest CEO Sallie Krawcheck suggests you do it. For more, visit: https://lnkd.in/eZ76dUwa.

1. “Puts money aside so I can spend it with joie de vivre.” 2. “I do not look at my bank account while on vacation. I plan before so I don’t have to.” 3. “Eats dessert. Every. Single. Day.”  4. “Makes more spontaneous decisions.” How do your financial habits change while on vacation? We asked women in our communities and networks. Find out what they said on our latest Substack post. https://lnkd.in/ezM__WkA