We are well aware of the INCOME gap for women at 84 cents to the $1 earned by men, but did you know the WEALTH gap is a dismal 55 cents to the $1?
We don’t talk about the women’s wealth gap because we don’t talk openly about money for a whole host of reasons. Some of us were taught it is rude or crude. Others of us have a lot of shame either because our families struggled or were poor or others of us feel guilty because we didn’t earn it ourselves. The big one is that we feel incompetent or even if our profession is money we feel like “imposters” that will someday be unmasked. Lastly, women are naturally more collaborative and value our relationships above anything else so we don’t want to be boastful.
The truth is women often take a longer, thoughtful view and are actually better investors, better budgeters and better community builders. The downside is that each of us, individually, have to make ALL the mistakes and quietly hide our successes.
HiveWealth believes that 3 pilars – Community, Content, and Context is the answer. Community of similar situated women has power! Think of real estate professionals in 3 cohorts of women: early career, mid career, and late career all learning, investing, celebrating and building wealth together. Content is relevant stories including the successes and failures that inspire and educate. Context is key. Just like performance by asset class is the bedrock of great portfolio management, analytics by cohort give YOU the data you need to share and help others and/or learn and ask questions in a safe, non-judgmental environment.
As Maya Angelou famously quoted, “Do the best you can until you know better. Then when you know better, do better.”
Hive Wealth is the first AI powered financial planning and investment platform and the only FinTech targeting FinFluencers and non-profit membership organizations. “Let’s Build Wealth Together”
