Ellevest

Despite the frustratingly slow journey to lower inflation, the Federal Reserve hasn’t been deterred from making another interest rate cut. At their last meeting of the year, they announced an additional cut of a quarter point, bringing it to a range of 4.25% to 4.5%. They also hinted at least two more rate cuts in the coming year — which they would consider with extreme caution. Read more: https://lnkd.in/ezB-sxBF

In 2014, we founded Ellevest after recognizing that the financial industry wasn’t built for women. Two years later, a brilliant team of people helped launch it, to a less-than-rousing reception. ⁠ ⁠ In 2024 — ten years later — we’ve built a community of 3+ million and are managing more than $2.4 billion in assets.⁠ ⁠ Quite the brand character arc, huh?⁠ ⁠ Between then and now, for women and finance in particular, a lot has changed. Even if it can be hard to see that change when you’re living it. (An important distinction: Change is not always progress.)⁠ ⁠ As Ellevest celebrates ten years of getting more money in the hands of women, here are some ways women are more confident about using their financial power than they were a decade ago.⁠ ⁠ We’ll never stop working to get more money in the hands of women. And we’ll never stop rooting for you and your financial goals. Book a complimentary call with us to start planning for the next decade (and beyond) — together: https://lnkd.in/edD-Qm-V

A message from Sallie Krawcheck. ❤️

It’s been a year full of meaningful conversations. At Ellevest, we love bringing together our community to discuss how to use our dollars to make the world a better place, for women and everyone else. Connect with the Ellevest team to get a head start on your impact in 2025:  https://lnkd.in/gVYjGZUj 

Your friends are actually your financial and professional superpower. In fact, one 2019 study found that women who communicate regularly with friends are more likely to land a higher leadership position at work. ⁠ ⁠ This is your sign to lean into your network of women for support — and to consider adding a financial expert to your roster. Learn more about what that could look like with an Ellevest financial advisor or financial planner:  https://lnkd.in/eH4EWMm8 Ellevest, Inc. is an SEC-registered investment adviser. Registration with the SEC does not imply a certain level of skill or training. Ellevest fees and additional information can be found at www.ellevest.com.

A world where women have more education, wealth, and power is coming. And it’s a world that’s better for us *all*. That’s not just our opinion at Ellevest, or what we saw in a crystal ball. That’s what our research tells us. Read more about the Feminization of Wealth: https://lnkd.in/g3fCDFbg Credit: @pewresearch

Your money is what allows you to do things like support your loved ones, start businesses, and leave corporate jobs for something more meaningful. In other words, when it comes to the person who helps you manage your money, women can’t afford “OK.”⁠ ⁠ If you’re working with a financial partner who does just an OK job, you don’t have to carry that into the new year.⁠ ⁠ Of course, ending any relationship is tough. Nerves can make you second-guess yourself. Many clients have told us they’ve stayed with a mediocre financial advisor longer than they should have because they felt guilty about cutting ties. And it’s cost them their confidence — and sometimes millions.⁠ ⁠ You deserve a better financial partner. That’s what we’re here for. And now, when you join Ellevest, you get a $500 investing credit for your Ellevest account when you purchase your first Comprehensive Planning package by December 15, 2024, and start investing with us by December 31, 2024. (Terms and conditions apply.) Get started with a free call with an Ellevest financial planner here: https://lnkd.in/eQ9bRnuy

Economic uncertainty can really change your relationship to money. Over the last year, we’ve heard about a lot of people resorting to “doom spending,” aka a form of retail therapy that you may engage in when you’re feeling a little … uneasy about the state of the world. Like impulsively buying plane tickets or getting sushi delivered five nights of the week. (If anyone gets it, we do.) Lately, we’ve been reading about the other extreme: “stress-saving.” It’s exactly what it sounds like. It’s extreme hoarding. It’s choosing to eat beans and rice for dinner every day when you could afford a more elaborate meal. It’s denying yourself a vacation you deeply deserve — and need. It’s saying “no” to the daily latte and making coffee at home every day, even on the weekends. All to squirrel away as much money as you can in your bank account. Cost-of-living anxiety, big political shifts, job insecurity — there’s a lot going on right now that may force you to rethink your budgeting and spending. And we’re all in favor of it. There’s no better time than now to start implementing better money habits — and saving money is definitely a good money habit. But you can, in fact, do too much of a good thing. When you leave your money in a bank account, you miss out on an opportunity to help it grow. Having a healthy emergency fund is important — but so is having a healthy retirement account and investment account. As Dr. Sylvia S. Kwan, CFA, CAIA noted in Ellevest’s Election Edition of our Monthly Market Insights, historically, markets have generally trended upward, no matter which political party is in the White House. In fact, the stock market has returned an annual average of 10% since 1928*. And, of course, there are other good money habits to implement. At Ellevest we believe that budgeting for the so-called “frivolous stuff” — whether that’s a daily latte or an impromptu island getaway — is an important part of financial wellness. That’s what budgeting is for — giving you permission to splurge on fun. And if you need a financial planner to help you do it — and feel better about the future — that’s what our all-women team of financial planners are for. *As measured by the S&P 500. Prior to 1957, S&P used a composite of 90 stocks to represent the stock market. https://lnkd.in/gxbBFKSj

We’re living through interesting economic times. On the one hand, inflation is — and has been — stubbornly high. On the other hand, the investing markets are swinging. More than ever, clients are asking: “How much money should I keep in cash?”

In terms of negotiating your salary, the right time is yesterday. If you didn’t do it yesterday, the right time is today.⁠ ⁠ Asking for a raise is one of the single most important things a woman can do to increase her total earning power over the course of her career. But for many, salary negotiations can be a difficult and uncomfortable conversation. ⁠ ⁠ Read Ellevest CEO Sallie Krawcheck’s best advice on how to approach these conversations with confidence: https://lnkd.in/ebQGh4S7