Magazine

Progress for Women Is Not Inevitable

By Sallie Krawcheck

And, just like that, it’s March. Women’s History Month, International Women’s Day, Equal Pay Day.

In other words, March is sort of our month over here at Ellevest. (Although on that last thing, Equal Pay Day? Snort. After the financial devastation that the pandemic has caused for women, there’s seriously no way that women only have to work until March 24 to earn what men earned in 2020. Just no way.)

Over the past couple of weeks, I’ve written about the money lies we’re told as women, as well as the money truths.

As we round the corner into March, it strikes me that there may be another money lie that we should put to rest: that the financial and economic progress of women is inevitable.

It feels like it should be, doesn’t it? With our first woman vice president. With a woman Speaker of the House. With women as the majority of college and advanced degree graduates. With more women than ever leading Fortune 500 companies. With the number of new women-owned businesses running at more than double that of all businesses over the five years leading up to the pandemic.

But that was before the pandemic, and the past year has demonstrated that progress is 100% not inevitable.

In fact, with the threat of decades of headway reversed in what feels like the blink of an eye, it’s become unignorable that progress has been built on a rickety underpinning. Our progress, up until now, has been driven by the sheer will and talent of women, overcoming this country’s sub-par social safety nets.

The way forward is to make some noise and make some changes.

It can be engaging with the new administration by raising our voices in support of the Marshall Plan for Moms or a child care stipend to bring women back into the workforce. (Passing the Equal Rights Amendment and the Equality Act can’t hurt, either.)

It can also be using the power of our money. To invest — whether via an online platform or as a private wealth investor — in companies that are best at advancing women. To buy from women-led businesses. To donate to non-profits that center on women and girls.

And we just maaaaaayyyyyy have a few things in the works for March in this vein. Ground-breaking things. Win-wins. Firsts.

We’re (clearly) bursting to tell you everything about it, but need to just put a few finishing touches on it before rolling it out. Hint: If you’re not a member yet, you can start there — do it now and we’ll drop $5 into your Ellevest Spend account.*


Sallie Krawcheck Signature

The “Ellevest Women’s History Month” promotional offer (the “Promotional Offer”) is offered to new Ellevest banking clients who satisfy the following “Eligibility Terms” on or before 11:59 PM EST on March 31, 2021 (the “Promotional Period”): (1) enroll in the Ellevest banking service (Ellevest Spend or Ellevest Save accounts) and (2) make a successful deposit into either their Ellevest Spend or Ellevest Save account. This promotion is available to the first 1,000 eligible clients who satisfy the Eligibility Terms, as determined by Ellevest in its sole discretion. Clients who satisfy the Eligibility Terms on or before the end of the Promotional Period will receive a $5.00 USD credit (the “Promotional Credit”) deposited to their Ellevest banking account by 5/31/2021. Clients must maintain an active Ellevest banking account through 5/31/2021 in order to receive the Promotional Credit. This Promotional Offer is only available to new Ellevest banking clients and is not valid in conjunction and cannot be combined with any other offers or promotions. Limit of one (1) promotion per new client. Ellevest reserves the right to withhold payment and refuse to award you the Promotional Offer if it determines, in its sole discretion, that the promotion was claimed under wrongful or fraudulent circumstances, that your participation is against the spirit of the program, that making payment would constitute a violation of your Ellevest Membership Terms and Conditions Agreement or applicable federal or state law, that the Promotional Offer is not applicable to the particular Ellevest membership service, or that incomplete or inaccurate information was provided. Ellevest reserves the right to end or modify any promotion at any time.

© 2021 Ellevest, Inc. All Rights Reserved.

*The “Ellevest Women’s History Month” promotional offer (the “Promotional Offer”) is offered to new Ellevest banking clients who satisfy the following “Eligibility Terms” on or before 11:59 PM EST on March 31, 2021 (the “Promotional Period”): (1) enroll in the Ellevest banking service (Ellevest Spend or Ellevest Save accounts) and (2) make a successful deposit into either their Ellevest Spend or Ellevest Save account. This promotion is available to the first 1,000 eligible clients who satisfy the Eligibility Terms, as determined by Ellevest in its sole discretion. Clients who satisfy the Eligibility Terms on or before the end of the Promotional Period will receive a $5.00 USD credit (the “Promotional Credit”) deposited to their Ellevest banking account by 5/31/2021. Clients must maintain an active Ellevest banking account through 5/31/2021 in order to receive the Promotional Credit. This Promotional Offer is only available to new Ellevest banking clients and is not valid in conjunction and cannot be combined with any other offers or promotions. Limit of one (1) promotion per new client. Ellevest reserves the right to withhold payment and refuse to award you the Promotional Offer if it determines, in its sole discretion, that the promotion was claimed under wrongful or fraudulent circumstances, that your participation is against the spirit of the program, that making payment would constitute a violation of your Ellevest Membership Terms and Conditions Agreement or applicable federal or state law, that the Promotional Offer is not applicable to the particular Ellevest membership service, or that incomplete or inaccurate information was provided. Ellevest reserves the right to end or modify any promotion at any time.

Information was obtained from third-party sources, which we believe to be reliable but not guaranteed for accuracy or completeness.

All opinions and views expressed by Ellevest are current as of the date of this writing, for informational purposes only, and do not constitute or imply an endorsement of any third party’s products or services.

The information provided should not be relied upon as investment advice or recommendations, does not constitute a solicitation to buy or sell securities, and should not be considered specific legal, investment, or tax advice.

The information provided does not take into account the specific objectives, financial situation, or particular needs of any specific person.

Investing entails risk, including the possible loss of principal, and there is no assurance that the investment will provide positive performance over any period of time.

Banking products and services are provided by Coastal Community Bank (“Coastal”), Member FDIC, pursuant to license by Mastercard International. Your Ellevest Save and Ellevest Spend Account deposits will be insured to the regulatory limits by the FDIC through Coastal Community Bank, Member FDIC.

Funds held in your Ellevest investment accounts are not FDIC insured, not guaranteed by Coastal, and may lose value. Ellevest does not guarantee investment performance.

Ellevest Membership fees are as follows: Ellevest Essential is $1 per month, Ellevest Plus is $5 per month, and Ellevest Executive is $9. Other fees as described in Ellevest’s Wrap Fee Program Brochure and the Ellevest Membership Terms and Conditions Agreement will continue to apply.

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Sallie Krawcheck

Sallie Krawcheck is the Co-Founder & CEO of Ellevest. Her life’s mission is to help women to reach their financial and professional goals.