Ellevest’s Post

There’s no one-size-fits-all approach to financial planning. It looks a little different for everybody — and it can especially look different for LGBTQIA+ couples. But one thing that absolutely applies to all couples: the importance of discussing money early and often with your partner in life. Here are 5 conversations LGBTQIA+ couples should have before they tie their financial futures together, from Ellevest Private Wealth Advisor @/Mari Delgado and Ellevest Financial Planner Sofia Figueroa, CFP®.

The lives of LGBTQIA+ people are different — which means they have different financial needs and realities. And if you’re part of an LGBTQIA+ relationship, the conversations you should have with your partner look a little different, too. Thank you to Ellevest Private Wealth Advisor Mari Delgado, CFP® and Ellevest Financial Planner Sofia Figueroa, CFP® for putting together this guide.

It's important for ALL women to understand the cash flows and financial resources under their own roof, but even more so for divorced women. The statistics are sobering, but gaining knowledge and building a plan will make all the difference for your financial security and new happiness! To get started on a healthy path — let's talk. #womenfinancialhealth

In a powerful collaboration, John T. Christy, CFP®, and Megan Brenner, WMS™, CFP®, join forces to redefine financial empowerment for women. They specialize in assisting those navigating the transitions of sudden singlehood due to death, divorce, or disability, as well as supporting female business owners and retiring executives. Their approach transcends traditional financial planning by aiming to instill confidence and knowledge in their clients during life's most challenging moments. "I think when clients walk through the door, especially female clients, they can know right away that they're going to be understood, they're going to be heard, they're going to be taken care of," Megan Brenner. If you or someone you know is facing the challenges of sudden singlehood, we warmly invite you to reach out. You don't have to walk this path alone. Our team is ready to listen, provide support, and help you regain your footing during this transitional period. https://lnkd.in/g4GA4Wts #WealthManagement #FinancialEmpowerment #KansasCity

Whether due to the death of a spouse, a divorce, retirement or some other major life event, women who find themselves in a process of life transition face unique challenges. Kimberly Foss, CFP®, CPWA® presents five principles and five action points that can help you put female clients in transition on the best path for the rest of their lives. #financialplanning #women https://lnkd.in/gpts5ekt

Whether due to the death of a spouse, a divorce, retirement or some other major life event, women who find themselves in a process of life transition face unique challenges. Kimberly Foss, CFP®, CPWA® presents five principles and five action points that can help you put female clients in transition on the best path for the rest of their lives. #financialplanning #women https://lnkd.in/dvzxmB_M

Our assets don’t just represent our financial well-being (or lack thereof), they also remind us of all the blood, sweat and tears we have put into building our lives. Even if, to other people, our house is a piece of real estate, it is, to us, a symbol of so much more — our hopes and dreams, and those are all the more complicated when they are wrapped up with another person. It is not a failure to bring in an attorney. Women suffer a greater decline in living standards after a divorce than men, and sound legal counsel should always be on the table as an option. Securing your financial settlement that will ensure your long-term financial independence is the No. 1 priority. Conflict or disagreements may be an inevitable part of that. Post-divorce, women experienced a 45% decline in their standard of living — as measured by an income-to-needs ratio — compared with a 21% drop in men’s living standards, a separate 2021 study found. But there was good news for women: “These declines persisted over time for men, and only reversed for women following repartnering,” the researchers wrote. via MarketWatch

I've always said, there can’t be a one-size-fits-all approach to financial planning. But this is specially important for the LQBTQIA+ community. There's different financial needs and realities that must be taken into account (that we always prioritize at Ellevest.) If you’re joining your life with someone else — no matter how you or they identify — we encourage having money convos early and often. Sofia Figueroa, CFP® and I partnered in the below article to describe the five things to talk about with your partner (and your financial planner), ASAP. #Ellevest #FinancialPlanning #PowerOfCustomization #WealthManagement #HolisticPlanning

Today, I'm thrilled to unveil the remarkable journey of "Financially Savvy." It all began with a vision to tackle a pressing issue that countless women encounter: the financial turmoil that follows a separation or divorce. Just like many of you, I found myself in a similar situation, forced to start anew with no clear path forward. The emotional and financial challenges were daunting, and I was convinced that there had to be a better way. With unwavering dedication, boundless creativity, and tireless hours of hard work, this vision was transformed into a reality. A sanctuary for women was conceptualized, a place where they could acquire the knowledge and tools to reclaim control over their finances and chart a course toward financial empowerment. The aim was to provide a resource that not only offered guidance and support but also presented an opportunity to rebuild lives in the wake of life-altering events like separation or divorce. "Financially Savvy" goes beyond a mere service; it's a lifeline, a robust support system, and a thriving community. It delivers financial education, meticulous planning, and expert guidance to empower women in regaining their financial stability and securing a brighter future. The unique challenges that women confront, from the persistent wage gap to the burdens of caregiver responsibilities, are recognized and addressed with unwavering commitment. If you resonate with "Financially Savvy" and believe in the potential of financial empowerment for all women, drop a ❤️. Together, you can navigate the transitions that life throws your way and construct a stable financial future. #FinanciallySavvy #AboutMe #BehindTheScenes