Newsletter August 2, 2017
Welcome to Our New What the Elle Newsletter
You know here at Ellevest, we're all about the positive power of women. We recognize that money is power. Knowledge is power. Confidence is power.
But for too long — and even today — the narrative around one form of "women and money" has been too much "damsel in distress."
Much of it has been "math is scary and it makes me feel emotional and my friend lost her job, so what if I lose mine too? But if I give up my one latte a week, I can be a millionaire."
In addition, a key means to building our wealth — investing — hasn't felt accessible to us. The high account minimums (easier for the guys to reach, given the gender pay gap), the treatment of investing as some type of competitive sport, the over-complicated communication of investing issues...if these didn’t say “investing isn’t for you,” then the ultra-masculine bull brand symbol of Wall Street certainly has.
At Ellevest, we want to be about inclusivity, not exclusivity, when it comes to investing.
We want to pull down what have been real barriers for women. That’s why we built Ellevest, co-created with you, for women.
But you've also been asking us to give you greater information and confidence around your money, in some cases to translate for you. Well, I just happen to “speak Wall Street,” so our new newsletter will work to educate you, as well as to curate the latest relevant research on money issues and on all things women-and-money.
Because money is power. Knowledge is power. Confidence is power.
And when we women recognize and grow our power, it has powerful ripple effects for our families and society. (And, boy, do we need some of that now.)
Please share this newsletter with any of your friends who you think should become #FinancialFeminists, both women and men who get it.
And keep that feedback coming. I’m at Sallie@Ellevest.com.
Co-founder & CEO, Ellevest
How to Take Time Off Work and Actually Afford It
Pop quiz: Say you make $80,000 a year and you spend two years away from work. How much does that cost you? $160K? Hard "no." First, there’s your lost salary, then a gap in 401(k) contributions, health care coverage, Social Security, and other benefits. And then there’s the pay cut you’ll likely take when you go back to work. But there’s good news: A career break is something you can plan and invest for. See how it’s done here.
Ask Sallie: Beauty-School-Dropout Edition
Your last trip to Sephora was cheap compared to what a daily hair and makeup routine costs even a “low-maintenance” woman each year. To keep you more woke than your undereye concealer promises, Sallie breaks down yet another gender money gap.
#FinancialFeminist Action of the Week: Stalk Your Ex
Uh, we mean your old 401(k). If your summer bucket list looks anything like this, you’re probably-getting-ready-to-maybe-start-thinking-about rolling your old 401(k) accounts into one IRA. Finding them is your first step: Control-F the email statements you’ve been ignoring all year, and star the most recent ones. Now you know where all your accounts are. Congrats, you’re done for the week.
Term of the Week: ETF
Eject Trolls Forever. Just kidding. Exchange Traded Funds. ETFs are similar to mutual funds in the sense they track indexes such as the S&P 500 (U.S. stocks) or the MSCI World (international stocks). They are considered passive investments because they require minimal human interaction, and typically have lower fees than other investment vehicles.
Make Another Woman’s Payday: Debbie Sterling & Goldieblox
Goldieblox Founder, CEO, and Stanford engineer Debbie Sterling is blowing up the pink toy aisle that moms, aunts, and grandmas have loathed for years — and making shopping for the brilliant girl in your fam much easier. Their STEM-focused activity sets and books are the perfect palate cleanser to Barbie’s “Math is hard!” gaffe, and their new #BeLikeHer campaign gave us goosebumps.
Say It with Stats: The ROI for Women
We all intuitively “know” that women in business are awesome, but First Round Capital did the math last year: Companies with female leadership deliver a 63% higher return on investment than those without. Idea for next study: “Why Silicon Valley ignores a bonkers-big-deal-stat like ‘63% higher return on investment.”
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. Information was obtained from third party sources which we believe to be reliable but are not guaranteed for accuracy or completeness.
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.