Sometimes I’m asked, “What's harder, running a startup or running Merrill Lynch?” Running a startup is much harder. I used to have a corner office. Now I sit at the end of a long desk back there.
Why? It goes back to one morning. I was putting on my mascara, and somewhere between layers one and two I had this big “aha!” moment. I’d been working in financial services for more than two decades, but something really hit me that day.
You see, in our country we have an enormous retirement savings crisis. We’re under-saving for retirement by trillions of dollars. What I realized that day is it’s really a women's crisis. That’s because we women live longer than men, and we retire with two-thirds the money of men. That’s in part because we’re paid less, and we take more career breaks, but it’s also in part because we invest less, what we call the gender investing gap.
It’s not our fault. The investing industry was built by men, for men. It’s all about outperforming the market, picking the best stock, not about explicitly taking into account women's longer lifespans and reaching our financial goals.
The good news: We can fix this and live the lives we’re meant to live. When I had that aha moment, I knew that I really, really, really had to launch Ellevest to work to close that gap.
Ellevest is built for you. It’s built by women, for women, with a mission to help women reach their financial goals. Working with an incredible team to fulfill that mission every day is hands-down the best part of my job.
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