The Truth About a Good Financial Plan

By Sallie Krawcheck

Who doesn’t love a good plan? 

I LOVE a good plan. Especially a good financial plan. 


For so many reasons:

Because people who have a financial plan have 2.7x the wealth of those who don't.*

Because if you write something down, you’re 42% more likely to do it. 

And because simply having a plan is a really powerful thing to do for your overall wellness: Taking action on your money is the #1 driver of confidence in achieving your goals. So putting a plan into motion can shift our relationship with money from being our biggest source of stress to a source of strength.

Can I talk about Ellevest for a second, and why I particularly like an Ellevest financial plan

Because, as in our investing offering, we take into account that women’s finances are just different: We tend to earn less, take more career breaks, and live longer than men. Not taking this into account can be (very) hazardous to our financial health. 

In addition, our financial planners and financial advisors are all women: We do this because 94% of you say you prefer to work with a woman financial planner or financial advisor. And 89% of you say you feel more confident about your money decisions working with a woman. Women who work with a woman advisor also tend to invest more than women who work with a man; that means they tend to build more wealth. 

When they said the best-laid plans of mice and men often go awry, they never mentioned women. 

An Ellevest plan can help you get on track for retirement, build a budget or a tax strategy, navigate a new marriage or a divorce, buy that dream home, recalibrate after a big promotion, and course-correct when needed. Or just give you some peace of mind that you’re doing things right and won't run out of money. 

How about the men in our lives? 

Glad you asked! We can work with you and your partner as well. (!!!)

So all of that good stuff above holds. And there’s a bonus here, which is that bringing in your partner can lead to a healthier relationship: The more often couples talk about money, the happier they report themselves to be. (And the less often they talk about money, the less happy they report themselves to be.) 

If we women instead outsource the management of the money to our partner, we set ourselves up for disappointment. Because when that money comes back to us (and it does, since 74% of women die single, given our longer lifespans and the divorce rate), 74% of us have a negative surprise


So a man is not a plan; a financial plan is a plan. 

You know that at Ellevest we love to say: Nothing bad happens when women have more money. We may need to change that to: Nothing bad happens when women have a financial plan. 

LFG. Here's a link to book a complimentary 15-minute call with us to chat through your next steps.

Sallie Krawcheck Signature


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*Source: Strategic Business Insights MacroMonitor 2020-2021 Report

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Sallie Krawcheck

Sallie Krawcheck is the Founder & CEO of Ellevest.