September 6, 2024 • 50 mins
Unlock the secrets to financial empowerment as we bring you insights from the inaugural Women Demystifying Money Conference in Bentonville, Arkansas. Featuring industry leaders like Kate Verkamp of Arvest Wealth Management, Micy Liu from Life Mission Capital, Jody Dilday of the Arkansas Community Foundation, Becca Shaddock of Blue Marlin Partners, and Ifeoma Ibekwe, a wealth advisor and former estate planning attorney, this episode promises a wealth of knowledge. Discover the unique professional journeys of these women and how their passions drive them to create a dynamic learning environment for attendees.
Dive deep into the importance of approaching financial education with an open mind and why redefining philanthropy matters. You'll hear about the collaborative efforts that went into planning the conference, where seasoned attendees mentor newcomers, fostering a nurturing space for growth and learning. From demystifying investing basics to addressing the challenges women face in male-dominated financial sectors, this episode underscores the necessity of these conversations and gatherings, highlighting the positive impact on both attendees and sponsors.
Join us as we explore the journey of empowering women through financial education, emphasizing the importance of preparing for wealth transfer and the impact of creating a supportive community. Hear personal stories and anecdotes that illustrate the challenges and triumphs of women navigating financial spaces. Learn how this conference aims to eliminate money shame, encourage continuous growth, and build a resilient financial future for women at all stages of their financial journeys. Tune in and become part of a community dedicated to making informed financial decisions and achieving financial independence.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
I'm so excited to be sitting here with you wonderful
women and telling the worldabout the inaugural Women
Demystifying Money and that'slike a mouthful Women
Demystifying Money Conference inBentonville, arkansas.
I would love an opportunity foreveryone to go around the table
and introduce themselves.
You can start, kate, and tellus a little bit about yourself,
(00:21):
what you do and anything elseyou want to add.
Speaker 2 (00:25):
Thank you, ify, you're so welcome.
So my name is Kate Verkamp andI'm a client advisor with Arvest
Wealth Management.
I've been there about threeyears.
I've been in the industry.
I took a break for almost 10years altogether and I just have
a massive passion for helpingwomen and with their money and
understanding and feelingcomfortable with it.
Speaker 3 (00:44):
So Macy Awesome.
Thank you, kate.
Hi Macy.
Here, macy Liu, I'm themanaging partner of Life Mission
Capital, so we basically helpinvestors passively invest in
real estate, specifically morewomen even though right now I do
have more men, but I'm workingon bringing more women along the
journey as well.
One of the inspirations for whatI do is my business partner.
(01:06):
She actually replaced herMontessori figure and come
through passive investing, whichI never thought about.
I know Montessori figure may bea lot for some people, may not
be as much for some people, butjust the fact that she did it
and she had a similar story asme and she's able to focus on
her family just made me superpassionate about and do more in
terms of helping people andbeing part of this Women
Demonstrate my Money event.
(01:27):
I've been in Northwest Arkansason and off for 10 years and,
you know, started with notknowing anything about real
estate, to active investing, topassive investing.
You know I came here 16 yearsold by myself, as a first
generation immigrant.
If I can learn all this andknow all this, you can as well.
So, super excited for theopportunity to be here.
(01:48):
I'm excited to build thiscommunity together.
Speaker 4 (01:52):
Wonderful.
I'm Jodi Dilde with ArkansasCommunity Foundation and I am a
philanthropic advisor.
I've been in that role forabout seven years and I help
generous people who care aboutthis community as much as I do
invest in our community bygiving back through volunteerism
, advocacy and through theirfinancial resources.
And I feel like I'm the luckyone who just stumbled into this
(02:14):
by meeting one and then theother of these great ladies, and
then they said, hey, we havethis idea and we think you could
bring the philanthropic pieceto it.
So I am thrilled to be a partof it because, as our attendees
learn and go along the journeyof demystifying money, building
money, being empowered to earnmore money and invest it and
(02:35):
save it and multiply it, at somepoint they're going to want to
give back and they're going toneed a philanthropy concierge,
and that will be me.
Speaker 5 (02:44):
So I'm ready to help.
Okay, becca Shaddock's herewith Blue Marlin Partners and we
are a private equity firm thatfocuses on cash flow middle
market businesses and Ipersonally help support
investors to invest in thoseoperating companies and work
together to create businessgrowth and development.
I've been in and around techall my life, so this was a very
(03:10):
big move for me into a morefinance driven role and I'm just
glad to be here to be able toshare those experiences and talk
through what it means to investoutside of public markets.
Speaker 1 (03:25):
Hi my name is Ife Abekwe.
I am a wealth advisor at ArvestWealth Management.
I love to talk about money, andso the Women Demystifying Money
Conference is right up my alley.
I have been in wealthmanagement for a few years, but
prior to that I was an estateplanning attorney, and so I like
to talk to people about deathtoo.
(03:46):
And it's incapacitation and allthe other things that come in
life and how to plan for thosethings.
And so I'm thrilled to be partof this conversation,
particularly because I am verypassionate about educating women
on their financial options andhelping elevate the money
conversation and make it a norm,and I think this is going to be
(04:09):
a great event for doing that,and I am just very excited to be
here with all of you.
Well, that's just a littletidbit of who we are, and I
think it would be really helpfuljust to what is this women
demystifying money thing.
We have this snazzy logo andwe've been putting all of the
(04:29):
information out there to theworld.
We have a sold out conference,which feels incredible to know
that at least 150 women aregoing to be attending a
conference on financialeducation for women.
Let's talk about what to expectat this conference.
So I'll start with you, kate.
What can someone expect?
(04:51):
What are you presenting on?
Speaker 2 (04:53):
Well, we're going to kind of do soup to nuts right
from very beginning to veryadvanced things, and my portion
is the very beginning, right,everyone has to start someplace.
So we're going to talk abouthow do you get started investing
in all the things that you haveto kind of or should have in
place before you take that leap,and then maybe go through a
(05:15):
couple terms, just so you're alittle bit more familiar, and
then I've got a roundtable ofsome really experienced, really
really wonderful financialadvisors that we're going to
kind of debunk a couple of mythsabout investing and how do you
get started and just kind of acouple resources for people
around the area.
Speaker 1 (05:33):
And then I go next, actually.
So the next part of the programis talking to the audience about
caring for aging parents,everyone's favorite subject.
Just by way of background, I'man estate planning attorney,
even though I'm not practicing,and one of the things that comes
up as people progress in theirlives and in their careers is
that they find themselvessometimes in this sandwich
(05:54):
generation, where you're takingcare of people who are ahead of
you your parents, older lovedones and then you're also maybe
taking care of kids as well andtrying to manage your career and
your finances and theirfinances sometimes, and so I
thought it would be wonderful toput together a panel of experts
.
We're going to have estateplanning lawyers, we're going to
(06:16):
have a trust officer on thepanel and then a woman here in
town who helps elderly peopledownsize as they start thinking
about what's next they want toget rid of their stuff and just
having those conversations andhelping to facilitate that
transition in life, andhopefully that'll leave you with
(06:37):
tools to deal with that ifthat's happening in your life or
in a loved one's life as well.
Speaker 3 (06:44):
I'm super excited about the real estate investing
section.
It encompasses both passive andactive.
In real estate investing,active just means you know
you're kind of the person whofinds the deal, secures the deal
, finds the loan and managingeverything, even with a property
manager.
And passive is more like hey, Ifigured out the deal, people
are doing all the work.
I just wanted the money andafter I confirmed this is a deal
(07:06):
I want to invest in, did my duediligence and I just received
updates or distributions from it.
Obviously, there is pros andcons on both sides and sometimes
it's perfect for people to dopassive investing.
Sometimes it's not so good idea.
So we're just going to share alittle bit about hey, what are
the pros and cons on both sides?
Good idea, so we're just goingto share a little bit about, hey
, what are the pros and cons onboth sides, which may or may not
(07:28):
be a good idea for you.
Just kind of learning from mypersonal stories of active
investing and then went intopassive investing.
That's my business partner whowent into a similar path, but
she has a big family and howpassive investing helped her
focus on what matters.
So I felt like we'll havepeople with interesting,
(07:48):
different backgrounds, alongwith a few other panelists with
corporate career background ornon-traditional background just
women from all walks of life, Ican.
I think with that, women in theaudience can really take away
what could work for them outsidethe traditional stocks and
bonds.
You know the men in Wall Street, you know what's in the men's
(08:09):
street, right, so I'm excited toshare the knowledge on that so
other people can have theawareness to create their legacy
.
That sounds exciting.
Speaker 5 (08:19):
So yeah, so I'm next.
So I'm going to talk a littlebit about.
We have a keynote speaker andshe is a dear friend and I
worked for her at Walmart aswell, kat Terrell.
We're going to go back, we'regoing to call her Karen, karen
Ann Terrell, but yes, so she isgoing to come and talk to us
about what her experience is.
(08:41):
You know how does she go from,you know, just starting her
career doesn't have, you know,hand-me-down wealth and is
looking to.
You know really focus and buildher career.
And as she builds her career,you know that wealth starts to
build.
And then you know what do youdo with that, how do you deal
with it and how can you make itmake more for you?
(09:01):
And so she's going to share youknow really rock star story
about how she did it, what shethought and how she is looking
back to help support women asthey create their journeys as
well, and so it'll be a greatsuccess story for you to hear.
And then we're going to go intosomething a little bit more
advanced from an investingstandpoint and a little bit more
(09:24):
risky category as alternateinvestments.
So I work for a private equityfirm, so we look at very small
middle market companies, andthat's an area that I think we
don't hear enough about.
So I've got a panel of womenwho are going to come and talk
about their experiences ininvesting investing in companies
that may take up the realestate that Meecy is talking
(09:46):
about, but really are workingtowards creating that operating
capital.
I also am bringing in someonefrom the University of Arkansas
to talk about the companies outthere.
You know what does it look like, not just to invest, but you
know, you think aboutentrepreneurship and maybe you
don't want to start from theground up, maybe you want to
look at a company that alreadyexists.
So there's going to be a lot ofinformation at the 30,000-foot
(10:07):
view to talk about alternativeinvestments as you look at your
portfolio and think about whatyou may be interested in.
Jodi, do you want to share whatyou're doing?
Speaker 4 (10:17):
Sure, I'm going to talk about my favorite topic,
which is investing in yourcommunity.
So I've been serving as aphilanthropic advisor for the
last seven years and I work withindividuals who really care
about our region and they wantto leave a legacy, like Misi
spoke about, and they have donewell for themselves in investing
(10:40):
.
Some of them have done modestlywell and some of them have done
extremely well, but no matterwhat somebody's net worth, there
is a desire to give back, andwhether that's through
volunteering or advocacy orsupporting an organization with
your finances, I'm kind of thereto talk to people about
aligning their investing intheir community with their own
(11:03):
personal values.
So we're going to talk aboutsome charitable giving tools
that are available through anumber of companies and as well
as the Community Foundation, andon my panel I'm going to
spotlight an individual who hasbeen giving back for a number of
years.
I'm going to also have apanelist who has a corporate
(11:25):
giving fund and how that companyaligns their business values
with their employees' values anduses it as a way to retain
their employees by engaging themin the community, and then
we'll also have a financialexpert on our panel.
Kate Bergkamp will also betalking about why it is smart to
give back from a taxperspective and from when you
(11:48):
have an investment portfoliothat has done well, there are
ways that you can give back in areally tax efficient way.
Speaker 3 (11:54):
So that's a little sneak peek of what I'll be
talking about, even though Jodytalked about philanthropic
giving, impact investing, likeyou know, through giving.
But also in my panel, I alsohave someone whose focus is
impact investing throughactually, you know, investing
for profit companies and thebacklash portion also is tied to
(12:16):
real estate to some degrees,with the operating companies,
and you know, at the end of theday, most people have families
and to deal with aging parents,and all of that is not possible
if you don't have the rightmindset.
I know which, if you will talka lot more about as well, so I'm
super excited to hear moreabout that too.
Speaker 1 (12:32):
I'm just excited hearing y'all talk about it and
I kept smiling at you, becca,and I was like, don't make eye
contact, don't smile at her toomuch, because I'm getting
excited just thinking about you.
Know how awesome the event isgoing to be.
Speaker 4 (12:50):
So it really is going to build throughout the day and
there has been so much synergyalready in the various
components that we each bring tothe table.
Speaker 5 (12:54):
And I want to go back to some excitement, because I
think we all get very excitedevery week after we have our
Friday morning meetings, whichwe have been doing for months.
Speaker 1 (13:02):
Yeah, I was going to say weeks and weeks, at least
since May, since May.
Speaker 5 (13:06):
Yes, so it's been quite some time.
And so when you think back tothose very first few meetings,
and hey, we've pulled this grouptogether, you know we looked at
this from a like let's have acouple hour event in the
afternoon, and you know, then wewere like, okay, we want to
talk about this, and we want totalk about this, this, and
people need to know this, andand so now we have a almost a
(13:30):
full day.
I'm going to call it a um, amom's school day.
Yes, right, um, you know, a 30to 30.
Speaker 4 (13:38):
We know our audience.
Speaker 5 (13:40):
It really is so now it's become this this much more
broad.
Um, we thought, okay, if we canget to 150 people, that would
be like golden two weeks in andwe're there.
Three weeks in, we're there,and so that's gone really fast.
But if you talk about, you know, when we look at setting the
day, how do we want people tocome and show up?
Speaker 1 (14:04):
I want people to come show up and kind of put aside
all your assumptions or all ofyour judgments that you have on
yourself about money, right?
So, whether you should knowmore, whether you should have
more, whether you should havedone more, all the what a
shoulda, couldas, don't shouldon yourself, no, don't shoulda
(14:26):
not yourself at this conference,so just leave that all at the
door.
Y'all shouldn't knock yourselfat this conference, so just
leave that all at the door.
And when you walk into thatbeautiful space and it will be a
beautiful space at the recordjust know that you are amongst
co-collaborators.
I would like to say that thepeople in there are people that
everyone has different goals,but we're on this journey
together.
Right, you're co-laborers onthis journey.
(14:48):
You're coming in there to toget information, to give
information, to make connections, to network whatever it is you
need.
I want people to feel likethere's something on that agenda
for them.
Additionally, if there'ssomething that we've just
discussed that just sounds likeI, that is way path.
Just come with an open mind,because the first thing in
(15:10):
financial education is justbeing educated.
Right, there's so much that Idon't know.
I used to think that in order tobe a philanthropist, you needed
to have lots and lots of money.
You need to be a millionaire,you need to have made it.
But how do you do that whereyou are right now?
How do you give in yourcommunity where you are now?
That's something that'spersonally very intriguing to me
(15:30):
, and maybe you're already doingthat and you just don't call it
that.
And so how do we redefinephilanthropy?
That's also something that'ssuper important to me, and so I
want people to come in there andfeel like you can get fed and
you're also going to get fed.
Speaker 5 (15:43):
And you're also going to get fed.
Speaker 1 (15:44):
Because we've been going back and forth about the
menu and the desserts and thetreats and eats and the breaks
are going to be great.
So we're not going to hold youhostage and you're going to have
a good time.
Just come in there knowing it'sgoing to be a good time and no
judgment.
Speaker 2 (16:01):
There's no judgment from anybody who's going to be
there, right?
And we will have basicallyfinancial literacy 101, 201, 301
, 401.
And so, even if it doesn'tapply to you today, maybe it'll
apply to you then.
Speaker 4 (16:14):
Absolutely Well.
And I like to say too, if youthink that some of this content
might be beneath you, don'tthink that either, Because they
say in sales, if you've had agood meeting, the meeting needs
you, the meeting needs you.
Speaker 2 (16:28):
So if you're doing really, really well and you've
got things figured out, come andpour into the other women that
are just beginning their journeyand be somebody that they can
reach out to, and that's I thinkthat's what women do best is we
can pull, pull a friend alongor someone up along.
Look at the five of us, right,I mean we're here to be
(16:49):
philanthropic right.
Speaker 5 (16:50):
This is us giving our time on something that we're
passionate about and want tolift up our community and the
women in our community andreally showcase women that maybe
you've never heard of, maybeyou've never seen, but you know
that whole.
If I can see it, I can be it,it you know.
(17:13):
I hope that it sparks somethingin everybody, at whatever stage
they're at, to do somethingdifferent or to put a plan in,
because I think that's, you know, part of what I wish I had done
sooner and known sooner is thatI should have put a better plan
together.
We're not good at what it couldhave.
Right, you're right, we're not.
So I'm going to, I'm going toswitch to.
I'm putting in a better plannow and I hope others are able
(17:34):
to do it earlier than I did.
Speaker 2 (17:38):
Yeah, so I think it's .
Speaker 5 (17:38):
it kind of brings all of that back together in a
sense.
I mean, those days, theseplanning days, have been a lot
of fun and I've learned a wholelot, if you had told me we're
going to meet every Fridaymorning ahead of time.
Speaker 1 (17:53):
I'm like absolutely not.
That would be too much of a lift, right.
But as the conference grew andthe speakers and the
possibilities even when wedidn't have the funding but the
idea was there it was like mustsee TV Friday morning at 830.
This is what we do.
Like must-see TV Friday morningat 8 30.
(18:14):
This is what we do.
We've had members here onvacation out doing amazing
things.
They're like I'm just callingin, I'm in the car, I'm heading
to wherever.
It was just appointment, youknow, that couldn't be missed
and for the most part, that'sreally what we've just decided.
We're going to invest in thisand that was, I guess, our
philanthropy to the community.
It's like let's put this on andsee what happens.
(18:35):
We don't have an agenda.
Where this came about, itreally was.
I met one person, I worked withone person, they met somebody
else.
They followed up with thatperson.
Next thing, you know, here weare.
We're a committee.
Speaker 5 (18:48):
That is exactly what happened.
Speaker 1 (18:49):
I was like wouldn't it be nice if we had this?
And Macy's like well, I'm goingto go meet with these people,
met with those.
And it's like well, I thinkwe're about to do this.
I just thought about talkingabout it for years, but from the
different roles that we allhave.
Speaker 2 (19:04):
We all felt that there was a massive need for
this information and a massiveneed for the gathering.
Speaker 5 (19:10):
Yeah, and I think the response from the people that
have signed up was the sameright.
For it to go so quickly is abig reinforcement that the
conversation is necessary andalso from the sponsors too.
Speaker 3 (19:25):
I mean the sponsors.
They were really eager to helpthe type, the variety of
sponsors and Becca did a lot ofwork on that.
Speaker 5 (19:33):
Well, I think the team has done a really good job
of figuring out what areas, likewho benefits most from helping
support this conversation.
You know, when you think abouta foundation piece and then
companies that either are partof the real estate journey or
(19:55):
part of the alternativeinvestments or part of the aging
parents Making sure that wefill the room with great
sponsors and companies, but alsofill the room with people that
are not all the same company,not all the same roles, right?
So there's really, you know, agood cross conversation that we
(20:16):
expect to come out of this.
That you know.
I think I'm excited to see it.
And you know, when we talk aboutour Friday morning meetings, I
hope that this event becomesthat for people Like it's a I
can't miss.
You could have 50 other thingscome on your calendar that day,
but I hope that you choose thisevent because it is going to be
well worth your time.
(20:36):
And and we talk about the valueI think Jodi Jodi is our value
person.
Jodi, talk to us about.
Talk to us about what valuethese women would will be
getting.
Speaker 4 (20:49):
And some male allies we have some, a few dudes, yes
just from the cost perspectiveof what we have invested in the
conference and I'm not talkingabout the intangibles or even
the um, some of the in-kindcontributions that that our, our
attendees, will receive it's a200 per person value already
(21:11):
that's crazy so that's crazy,it's going to be nice it's going
to be so.
Speaker 5 (21:16):
So maybe we um talk a little bit about our why.
I know that that's, you know,really important for us as we
walk into this is you know whywe're doing this, what is it,
what is our philanthropic umpassion for this?
And so you know, let me see youwant to talk about your why?
Speaker 3 (21:34):
Yeah, sure, that's always a great and can be a
touchy subject, but for me, youknow, when I started in real
estate in 2019, doing kind ofactive investing and then later
on got into passive investing,whenever I went to investment
conferences I was probably likeone of the five women there and
like one of the only two Asianminorities there and it just
(21:59):
made me wonder, like, are womenjust not wanting this?
Are women like not equipped forthis?
Like what, what?
Why is there not enough women?
So I dug deeper as I gotengaged more locally, met people
like you know, all of you guyshere and I really shared kind of
the answers to my question.
You know, we kind of was kindof limiting belief right to even
(22:21):
have those questions.
So like, hey, women, we can doit.
Some of us want to do it, someof us didn't know how to do it,
some of us don't have anyinspiration to look up to.
I mean, I didn't have those.
So for me, it's really aboutcreating a sisterhood of like
you guys and girls, gals orothers as well to learn about
(22:45):
investing together.
Do investing together.
Educate each other together.
Do investing together.
Educate each other together.
Also, to help break limitingmindset around creating legacies
.
Growing up, I spent the first 16years of my life growing up in
China.
It was all about doing well inplanning and save and not much
(23:07):
of investing.
But you know, inflation can eateverything.
And, most importantly, likewhat you do with your money
isn't not just about growingnumbers but the value it creates
for the community.
But you know, also in yourself,we're a family as well.
So after seeing how others havedone that, like how my business
partner has done it for herfamily, so that she could focus
more on her family versus justdoing maintenance and toilets it
(23:30):
was really, I think yeah, it istrue, it is very traumatic
actually because in the pastyear she's been working on
offloading her properties andshe has like the worst, worst
stories.
One time she had a leak thatcost like $30,000, $50,000.
She detected.
One time a trio found her house.
It's all in the past year andmost recently there was a fire.
(23:56):
I'm like you got the.
You got the worst stories toshare.
I mean, I haven't had anythinglike that one without any of my
active portfolios, but it's likehey, if you're spending time
chasing out that right, like ifyou've never been exposed to
about the possibility ofleveraging other people's time
on talent.
You know it could bephilanthropic side, it could be
financial planning side.
If you're trying to doeverything on your own, if
you're not building a communitywhether it's sisterhood or just
community with similar mindsetsand beliefs and values it's very
(24:19):
exhausting to do it on your own.
So I just want to create thatsisterhood and break limiting
barriers in their beliefs and dothings together that could be
fun and value-based.
Speaker 4 (24:30):
Wow, a sisterhood of empowered investors, I like that
, yeah, yeah, Mine's very, verysimilar.
Speaker 2 (24:37):
I think you guys all know the story.
But a couple years ago myhusband got really sick and at
the time we didn't have anestate plan.
He had accounts and I hadaccounts and we had to pull it
all together and when he wasfinally on the path to getting
better, it was literally likethat light bulb moment that I
had been waiting 40 some oddyears to have a.
You know what was I going to bewhen I grow up?
(24:58):
And I was like, oh, why am Inot helping other women put
these safety guards into place?
Why am I not helping otherwomen explain to them some of
the things that are veryconfusing or just intimidating,
and why am I not being aresource to other women to help
them grow their wealth?
And so I started on a path tokind of get back into the
(25:18):
business, grow a business, andit's been awesome.
I've had some great stories.
I've helped a lot of peoplefrom zero and I've had people
come and bring me millions andit's great and it's a
collaboration and I like peopleto be involved.
People, they should know wheretheir money is.
They should know how it'sinvested.
(25:38):
I have one of my most favoriteclients is 80 plus, and she says
Kate, if I can't understand it,I don't want it.
So you know, it doesn't have tobe difficult, it doesn't have
to be difficult, it doesn't haveto be complicated.
You know, you need to knowwhere your running is, and so I
find it really important and,like I said before, this is a
(25:59):
dynamic group and I think doinghere is going to be great.
Speaker 1 (26:06):
I'll go next.
I think everyone here, everyonein the world, has a money story
and what that means issomewhere, somehow, some way
along the way, you've figuredout how you feel about money.
It was influenced by yourparents, by your community,
whether you had money or didn't,whether you saw your parents
talk about money or it was verytaboo and disrespectful or rude
(26:30):
to speak about.
And that influences us asadults and onward.
So there's no age barrier tothat money story and we're all
on a money journey.
And that concept really startedto intrigue me about probably
about five years ago when I usedto own my own law firm and then
I would do all of this planningand try to figure out you know
(26:54):
ways to increase revenue and allthat.
And I ended up taking thiscourse where we had to talk
about our money story and I waslike, well, what's my money
story?
And there were all theseexercises about really digging
deep and saying what was yourhousehold like when you were
growing up?
How was money talked about?
Did you use credit cards?
Were loans considered bad?
And I had to do like weeks ofwork on my money mindset and
(27:16):
then I got very intrigued bythat and how, regardless of how
much money you make, regardlessof whether you think you are
where you need to be or not.
You're carrying your moneybaggage, your money story with
you, and how do we leverage that?
And I think that one of thethings that we have to do is,
when menace talk about money, wejust have to talk about it.
(27:37):
We can't keep it as a taboosubject or one filled with shame
.
I know earlier I mentionedpeople feel, oh, I should have
learned this in school orsomebody should have taught me,
or I've made bad mistakes andall that.
Bring that all to the table andtalk about it, because there's
likely to be someone who's gonethrough what you've gone through
, who's experienced it, who cangive you their wisdom and can
(27:59):
show you another path forward.
Or just say, hey, I wentthrough it and look, I'm still
alive and I'm on the other sideof it, here's what I did right.
Or keep you from making similarpoor choices or decisions.
And, honestly, that's what makesme very excited about the work
that I do as a wealth advisor.
I get to see all kinds ofpeople.
(28:20):
I get to see people who havemillions and millions of dollars
and I get to see people who youthink have millions and
millions of dollars, but theydon't.
And it's one of the mosteye-opening roles is that just
because someone has moneydoesn't mean that their money
story doesn't right?
Or it doesn't mean that theydon't have money shame.
(28:40):
Or it doesn't mean that theydon't feel guilty about having
money or not having money.
It's like, hey, we're all inthe same boat together.
Why don't we talk about itinstead of feeling so isolated?
And I think that thisconference just aligns with that
.
And Kate used my favorite term,soup to nuts, which is
basically the beginning of ameal, starts with the soup and
(29:01):
ends with the nut, especially ifyou like Masterpiece Theater,
like myself.
But it is so exciting to get ina room because, like Karen Ann,
you don't know where you'regoing to end up.
Nobody knows where they'regoing to end up.
You might come into a whole lotof money.
We are on the precipice of ahuge financial transfer.
I estimate, say, up to $84trillion will be passed on in
(29:23):
the next 20 years.
What does that mean?
Practically, it means thatwomen are going to have more
money than they've ever hadbefore.
Women are going to have moremoney than they've ever had
before.
So think about your parents andyour grandparents and all the
people who have assets and howthey don't.
No one lives forever right.
And so what is the plan for thatwealth transfer?
To continue to do the ostrichmethod, where you put your head
(29:44):
in the sand and just hope forthe best, or be empowered and
start making decisions now aboutyour financial education so
that you're able to steward ifyou have money coming to you and
you may not but if you do whatyou're going to do with that or
what you need to do in order toprepare yourself for the next
level, or to prepare it totransfer it to the next
generation, because this is amulti-generational conference.
(30:07):
This is not a conference forjust young women or for women
that have hit executive status.
This isn't every.
If you are interested inlearning about money, this is a
conference for you, and so thatmakes me so excited, and I just
think it's just very, veryimportant work that we don't see
enough of globally.
Speaker 2 (30:28):
And to that point, 90% of all women will be in
charge of their own money atsome point in time in their
lifetime, right, whether it'sthrough.
You know you are in charge ofyour money for your family, or
you have a spouse that passes ora parent that passes but 90% of
all women.
Speaker 5 (30:44):
So you got to know you got to know.
Well, I think Ify's points kindof lead to you, jodi, so I'm
not going to comment, but I will.
Speaker 4 (30:54):
Well, as a nonprofit person, one of the things that
we always do is, you know and Ithink you did this in regular
business too a SWOT analysis.
Right, and who else is alreadydoing this, and do we need to
offer something?
I am a big believer in notduplicating services.
I'm a big believer in notduplicating services, and we
(31:15):
looked around and there's justreally nothing out there that is
focusing on this targetdemographic of women, that is
providing this level ofeducation and this ambiance of
bring your whole self and thisis a safe place and we can learn
together and we can askuninformed questions together.
No dumb questions, no stupidquestions, but we can ask
uninformed questions and we canlearn together and we can ask
uninformed questions together.
No dumb questions, no stupidquestions, but we can ask
uninformed questions and we'rethere to support each other
(31:36):
along the way, and so that justthat makes my heart happy.
Speaker 5 (31:41):
I love hearing all the stories and, misi, you
talked about being in a roomwith only like four women, and
you know, I went to a conferencelast year and I thought this
was like one of the bestconferences I've been to.
During that event, the peoplethat started it talked about how
they created this conference soit's three days, so not just a
(32:02):
one day but that they createdthis because they didn't see
anything out in the market thatgave them the information all in
one place with the samelike-minded people in the same
room, and so as we started totalk about this, I kind of went
back to that conversationbecause that's exactly what this
is for me, right?
(32:23):
This is the conference that Iwish we had had years ago, full
of women to talk about money,wealth and not have the money
shame or the money guilt.
You know, I'm sure that a lotof our audience and any
listeners here today willprobably have felt that at some
(32:45):
point.
I mean, I haven't talked tomany women that haven't had some
of that in their lifetime, andto get rid of that is super
empowering and freeing.
So that's really why I want todo it is that it's bringing the
information that I wish I hadand I think that the
continuation of the conversationis what I really want to see
(33:06):
for myself, and if I need itthen I'm sure there's other
women out there that need it,and so that was the passion for
me to get involved At that event.
There was very the conference Iwent to.
There was, I don't know, therewas probably, I don't know maybe
an eighth woman, don't knowlike maybe an eighth woman.
(33:28):
I mean, there was a lot ofpeople and so it was definitely
a lot harder and I'm a shortfemale and men in finance, I
guess, are really tall.
So I felt not only notrepresented in the room, I felt
like walked over and pushed likebecause I was just, I was an
(33:48):
eye level right, and so I'manxious to get into a room and
watch women really empower eachother, have conversations, and
not feel that pressure to notspeak or to shy away because it
feels dominated in another way.
Speaker 4 (34:11):
Thinking about both of you.
In the field of wealthmanagement, I mean, that has
been a male-dominated field forso long and as I have worked in
nonprofit and have partneredwith professional advisors,
wealth managers the women havebeen few and far between.
But an 80-year-old donor cameto me one time with a
significant gift to theorganization I worked with and
she said you know, my husbanddid all of our financial
(34:32):
planning, all of our life, andhe did very well for us.
And then he passed away and shewent into the financial
advisor's office who sort oftalked down to her and patted
her on the head and she said Itook that money and I moved it
to a woman who would speak to meas a peer and an equal and I
(34:53):
followed her example.
We didn't have a bad financialadvisor, but when we were
looking for one, I told myhusband.
I said you always tell me thatyou're going to go out with a
splat before I leave this earthand if that is the case, then
I'm going to be in charge of allthis and I want a young woman
working for us.
I didn't want somebody olderthan us because when I retire I
(35:18):
don't want her to retire and belooking for somebody new.
So you know, I think it'sreally important.
I think the room will be filledwith people that you can look
around and find.
You know who do I connect withand who is best for me, because
you're great and you're greatand I know about 50 other great
advisors.
But you have to find the personthat makes you feel most
(35:40):
comfortable, that you can sit inthat seat and ask your
uninformed questions and have nomoney shame.
Speaker 1 (35:48):
And get eye contact and get eye contact and respect
you are the customer.
And this is such a great pointbecause this is actually
something that's being discussedwidely in the field of wealth
management.
We talked about that wealthtransfer.
That's happening.
All this money is going to betransferred.
Women tend to live longer thantheir husbands if they have male
(36:09):
spouses, and what's going tohappen if you have no
relationship with that personinheriting the money?
It's such an opportunity forjust in the field.
It is an opportunity butespecially as women, you know to
have that power and say no, Idemand respect, this is my money
(36:29):
, this is what we built, orthese are our assets or my asset
, and I want the courtesy of.
I don't understand this.
Please explain that to me again.
Is this in the best interest ofwhat I'm trying to achieve?
And hopefully this conferencewill give people the ability to
know no, you're in control ofyour money.
You get to say yes or no or sayyou know what we're going to
(36:52):
pull it.
That's not working for us.
I don't feel like you'reaccessible to me or that I have
enough to be considered a keycustomer, Because you have to
trust your instinct when itcomes to money and the money
decisions.
If something doesn't sit rightwith you, believe that and trust
that there's somebody else thatcan help you too.
Speaker 2 (37:12):
It's not easy, it's not Find the right person, and I
think that's part of you know.
Another thing we're going tobring some resources.
You know, I just had aconversation with a friend who
is an advisor for a very largecompany in another city and her
minimum client has to have fivemillion dollars.
Right, and I said really, andshe said I know I hate it
(37:33):
because there's so many peoplethat have less than five million
that need that help, and sothat's part of the problem with
the industry as well.
Right is that we've got thesevery lofty goals and some people
just don't know where to, andeverybody has to start somewhere
.
Yeah, everyone has to taketheir very first step.
Speaker 5 (37:51):
So yes, when I think that also, you know, when you
think about the type of peoplethat need and crave this
information I mean, probablyhalf of them are just starting
out right and so you know youcan't expect to be at those
levels.
Yeah, when you're just startingout.
Speaker 2 (38:08):
It removes people from the conversation because
you're like this is not for meright, and that's part of the
problem is how the conversationcomes but and and we helped a
client who has a um, a bluecollar job like right, and, and
sent money back to his homecountry, brought his siblings
(38:28):
over and he just saved, andsaved, and saved, and he had
millions and millions, and so wedon't have to have these very
lofty jobs that pay hundreds ofthousands of dollars.
It's the consistency, it's thediscipline of saving and putting
money away and investing andbuilding.
Speaker 5 (38:46):
Well, and also, you know thinking about your
salaries right and how younegotiate, what you're bringing
in and or benefits, right and Ithink that's something that I
know I wish I had moreinformation about.
Is that and what to do withthose things?
Because you know you just takehis money and then what do you
do?
It burns a hole in those things.
Because you know you just takehis money and then what do you
(39:07):
do?
It burns a hole in your pocketand so you want to spend it, and
you know that's a piece thatyou just don't think about.
And moving from job to job,like what are the values of
those, what are the benefits?
And then what are some of theconsequences too, because every
dollar made, every dollar spent,has some type of impact, and I
(39:28):
don't think that there's a lotof conversation around that
either.
Right, and how to plan better.
Speaker 3 (39:34):
And also following along with what you said about
from job to job and sometimesfrom job to no job.
Yeah, exactly To reality a lotof people like financial
planning for cushion funds oreven having side hassles or
passive income, whether fromstocks and bonds or real estate
or other assets, operatingcompanies.
I mean you want to have thatcushion right, because when it
(39:55):
stops coming, how, what do youdo right?
Your mortgage payments don'teven be made, your kids,
education and all thesedifferent things just being half
lose, just being access, havingaccess to all this knowledge.
You don't have to, you know, gomake an investment today, talk
to financial advisor right away,but you should at least start
thinking about what are thepieces you have missing from the
(40:17):
conference, hopefully, and whatcan and cannot work for you so
that you have more cushions andwhat I call is peace of mind and
freedom, so you can focus onwhat matters.
That's one of the reasons mycompany is called Life Mission
Capital, because I feel likeeveryone has their own life
mission.
If you help them, give enoughcushions and I see that in the
wealthy versus non-wealthy a lotLike people make choices in
(40:41):
their career and habits and etcetera because they're not
wealthy or they don't feel likethey have enough, but the ones
who feel like they do, theypursue their hobbies, their
passion.
I mean, it's also mindset youdon't have to have the money to
live a good life, but it doeshelp to a good degree.
So how do you continue tointroduce that cushion, that
income, to help you live a moremeaningful life?
(41:04):
So I feel like that's the coreof what gets me excited.
And going back to the why andwhat we're doing this Right.
Speaker 5 (41:12):
And I think the demystification and demystifying
was really our key word, right.
Speaker 1 (41:18):
How did we come up with demystifying in our
scripted time?
Speaker 5 (41:23):
So Karen and I have had this conversation a lot and
she wanted to do a dinner withsome friends of hers to talk
about private equity and doingthis demystifying investment
dinner.
Right, you know, 10, 12 womenget around a table and talk
(41:49):
about what they're doing or notdoing or here, and so really
that that was kind of whatstarted the passion.
And I know I think we talked alittle bit about it, Ibi, when
you came to the office.
Speaker 1 (41:59):
Yeah, because I met with you together the first time
Talking about women, and I'mlike, oh, this is good and great
, but like, like, where, wherecan this go?
Yeah, and here we are.
Speaker 5 (42:08):
Here we are, um, and so here and so we you know, ours
was very specific around, youknow, private equity and
investing, and then, as westarted to talk together, we we
kind of, you know made it thatbroad women, um, instead of you,
just yeah.
So that also as we thoughtabout, like what does this look
like?
We've come together, we're likethis thing has gotten really,
(42:31):
really big and you know whathappens next, and so we really
wanted to leave it open to makesure that you know it could grow
however it needed to grow.
Speaker 1 (42:42):
So the organic after when you said a three-day
conference, I had the firstflash that oh my god to read in
conference like fully, I wouldintend it.
Speaker 5 (42:54):
You know what I mean absolutely where is that
happening?
I was like oh, no more fridaymorning, more friday mornings,
um, yeah, maybe, maybe I canreach out to them and see if
they lend some some time andsupport no and so yeah, that's
how we we created thatdemystifying because it is right
, it is, it is.
(43:15):
And to debunk the myths aroundmoney and the, the shame and
guilt.
Speaker 1 (43:23):
But to acknowledge that those things are there, but
not let them be limitingfactors in moving forward.
You know, right, there's stillsomething that can be done from
wherever you are.
Today, you know, we've hadpeople come in.
We ended up helping themconsolidate debt and we were
like, oh, this is a greatprospect, oh, okay.
Well, she will be a greatprospect after we get some
(43:45):
things, and that's also verysatisfying to help someone
because if they're not sleepingor they feel like the burden of
just their money issues likelet's give people a chance to.
Okay.
Here you are today.
What can we do today?
Speaker 5 (44:02):
How many of you have had sleepless nights because of
money?
Speaker 3 (44:06):
I mean right, Usually around the big purchases and
those decisions, and is thisright or not right?
Speaker 4 (44:12):
Or when the markets go or they're looking at the
house and your interest rates,yeah.
Speaker 5 (44:17):
Oh, okay.
So I mean, you know, if allfive of us have, then you know,
I know we're in the right plateand we talk about money as part
of our work.
Speaker 1 (44:26):
So it's almost we are like unicorns in our profession
and being able to just talkabout money every day, Right?
Like we're talking aboutpeople's money every day and
there are so few of us in ourrespective spaces that do that
kind of work, much less aregular, you know, I don't know.
In the law we call them laypeople, but it's.
(44:47):
It's always sounds so likedemeaning, but someone who's not
in that space, just trying toget whatever they have to get
done done.
How do they enter thatconversation and feel like, okay
, I have a seat at this tableand that this is something I
need to really press into andreally focus on?
Speaker 4 (45:03):
And often lay people just don't even know where to
start.
Like, who do I call first?
Do I call a brokerage firm?
Do I call a bank for the wealth?
I'm not eligible for privatebanking.
Speaker 2 (45:15):
I don't have wealth.
How?
Speaker 5 (45:16):
do I find there's no yellow pages really anymore to
just flip through.
Speaker 4 (45:22):
So how do you even find that person?
And if you haven't been toldfrom your you know the folks who
gave you the money, oh well, weuse so and so you know my mom
would talk about where some oftheir money is, not that they're
just very average, but theywould talk about and I'd say,
why are these all men's names?
You know, all these investmentfirms were just a bunch of white
(45:45):
men's names and I'm looking forthe day when there's going to
be, you know, good mix.
Speaker 5 (45:51):
Yes.
Speaker 3 (45:52):
Women owned investment firms.
Speaker 1 (45:55):
You know More options .
Speaker 4 (45:57):
Yes, we need more.
Speaker 5 (45:58):
Yes, and I think there's more options out there
that we don't even know, and soI hope also this conference
brings forward resources.
Speaker 1 (46:05):
Yes, that we haven't, that haven't in our community
Right.
Speaker 5 (46:08):
That we haven't even discovered.
Or you know, I mean we have thefive of us have a very large
network of women in these spaces, but even sometimes we ran into
some, hey, we don't haveanybody in these spaces and we
don't know anybody in thesespaces, and so I hope that you
know, with this type ofconference and conversation it
(46:28):
brings forward more resources.
Speaker 3 (46:32):
Which they will get, will have a QR code with
resources in our community thatthey can hear more about.
So they have to attend theconference.
Speaker 5 (46:40):
You have to attend the conference.
Must be present, must bepresent, but what about?
Speaker 1 (46:44):
people who are hearing about this and we've
said we've sold out ourconference and it kind of feels
a little hopeless.
What would you say to someonelike that, who's jazzed to hear
about it, wants to sign up andthen finds out we're sold out?
Speaker 5 (46:59):
Well, I know that we are going to continue the
conversation for a little while,you know, through podcasts.
We are going to continue theconversation for a little while,
you know, through podcasts.
So I know we're going to have acouple of people, a couple of
speakers, come in and talk alittle bit and then we're going
to have some interviews withsome sponsors.
So I know that we've got someinformation out there and as
(47:21):
soon or I guess it's probablyalready happening We'll have a
LinkedIn page.
So you know, people could askquestions and we'll just see
organically how it goes.
Speaker 1 (47:28):
And I think that if we provide a space for people to
share ideas and maybe they wantto hear about a specific topic
that's something that we'd bevery open to seeing what happens
after this conference and thenalso we have a wait list, we do.
Speaker 5 (47:43):
Oh, yes, yes, the wait list.
Um so don't just despair.
Speaker 1 (47:48):
Um, you know, people register and things happen, and
so if it's something that isimportant, make sure you
register, put your name on thelist in case there's a spot that
opens up so that you can yeah,and next, to make sure you
register early, yeah we don'teven get to open it up to the
pub now, so much.
Speaker 2 (48:09):
now you know what this all reminds me of.
Have you ever gotten like agreat recipe from a friend or a
recommendation for a hairdresseror a landscaper?
And if you know who that personis and you appreciate who they
are, you're like great.
I don't need to check anyreference, I'm in.
Right, this is kind of whatwe're offering to people, right,
like we're giving you theresource.
(48:31):
Yeah, it's a great recipe thatwe're giving it.
It's a great recipe.
Speaker 4 (48:37):
Yeah, yes, so that's exciting.
So, speaking of people that werereally grateful for sharing
recipes and sharing a vision,our sponsors shared our vision.
They caught on early that thiswas something that we needed in
our community and they werewilling to invest in us and the
planning of this initiative andalso the logistical expenses
(48:58):
that come along with planning areally nice event.
So thank you to Arvest forstepping up right away, and to
Blue Marlin also, and LifeMission Capital.
And then we also want to thankPodcastVideoscom, who's
graciously allowed us to come inand record today and we'll be
getting it out there on theinterwebs everywhere, and, of
course, ingeborg Initiatives,because they really understand
(49:20):
the importance of women havingthe power and influence and
access to their own financialresources.
Speaker 5 (49:27):
And to Arkansas Community Foundation, Jodi as
well, for helping support usfrom the nonprofits.
Speaker 3 (49:34):
Well, I can't believe this conversation is coming to
an end.
What great chemistry we had inthis room here.
All five of us are superexcited to host this event on
September 17th and we believeyou all get great value from the
event, and also we're superexcited for other sponsor and
attendees as well.
If you want to follow along ourjourney how we help women
(49:56):
domestic buying money, pleasefollow us on LinkedIn.
Women domestic buying moneywill also share our waitlist
information for those whocouldn't make it into this round
so far.
Please follow along and please.
Women love sharing, sharing iscaring and for that too, a
friend, anyone you know thatcould benefit from this.
I would love to see you on ourfuture steps of our journey.
(50:18):
See you next time, thank youyou.
I'm so excited to be sitting here with you wonderful
women and telling the worldabout the inaugural Women
Demystifying Money and that'slike a mouthful Women
Demystifying Money Conference inBentonville, arkansas.
I would love an opportunity foreveryone to go around the table
and introduce themselves.
You can start, kate, and tellus a little bit about yourself,
(00:21):
what you do and anything elseyou want to add.
Speaker 2 (00:25):
Thank you, ify, you're so welcome.
So my name is Kate Verkamp andI'm a client advisor with Arvest
Wealth Management.
I've been there about threeyears.
I've been in the industry.
I took a break for almost 10years altogether and I just have
a massive passion for helpingwomen and with their money and
understanding and feelingcomfortable with it.
Speaker 3 (00:44):
So Macy Awesome.
Thank you, kate.
Hi Macy.
Here, macy Liu, I'm themanaging partner of Life Mission
Capital, so we basically helpinvestors passively invest in
real estate, specifically morewomen even though right now I do
have more men, but I'm workingon bringing more women along the
journey as well.
One of the inspirations for whatI do is my business partner.
(01:06):
She actually replaced herMontessori figure and come
through passive investing, whichI never thought about.
I know Montessori figure may bea lot for some people, may not
be as much for some people, butjust the fact that she did it
and she had a similar story asme and she's able to focus on
her family just made me superpassionate about and do more in
terms of helping people andbeing part of this Women
Demonstrate my Money event.
(01:27):
I've been in Northwest Arkansason and off for 10 years and,
you know, started with notknowing anything about real
estate, to active investing, topassive investing.
You know I came here 16 yearsold by myself, as a first
generation immigrant.
If I can learn all this andknow all this, you can as well.
So, super excited for theopportunity to be here.
(01:48):
I'm excited to build thiscommunity together.
Speaker 4 (01:52):
Wonderful.
I'm Jodi Dilde with ArkansasCommunity Foundation and I am a
philanthropic advisor.
I've been in that role forabout seven years and I help
generous people who care aboutthis community as much as I do
invest in our community bygiving back through volunteerism
, advocacy and through theirfinancial resources.
And I feel like I'm the luckyone who just stumbled into this
(02:14):
by meeting one and then theother of these great ladies, and
then they said, hey, we havethis idea and we think you could
bring the philanthropic pieceto it.
So I am thrilled to be a partof it because, as our attendees
learn and go along the journeyof demystifying money, building
money, being empowered to earnmore money and invest it and
(02:35):
save it and multiply it, at somepoint they're going to want to
give back and they're going toneed a philanthropy concierge,
and that will be me.
Speaker 5 (02:44):
So I'm ready to help.
Okay, becca Shaddock's herewith Blue Marlin Partners and we
are a private equity firm thatfocuses on cash flow middle
market businesses and Ipersonally help support
investors to invest in thoseoperating companies and work
together to create businessgrowth and development.
I've been in and around techall my life, so this was a very
(03:10):
big move for me into a morefinance driven role and I'm just
glad to be here to be able toshare those experiences and talk
through what it means to investoutside of public markets.
Speaker 1 (03:25):
Hi my name is Ife Abekwe.
I am a wealth advisor at ArvestWealth Management.
I love to talk about money, andso the Women Demystifying Money
Conference is right up my alley.
I have been in wealthmanagement for a few years, but
prior to that I was an estateplanning attorney, and so I like
to talk to people about deathtoo.
(03:46):
And it's incapacitation and allthe other things that come in
life and how to plan for thosethings.
And so I'm thrilled to be partof this conversation,
particularly because I am verypassionate about educating women
on their financial options andhelping elevate the money
conversation and make it a norm,and I think this is going to be
(04:09):
a great event for doing that,and I am just very excited to be
here with all of you.
Well, that's just a littletidbit of who we are, and I
think it would be really helpfuljust to what is this women
demystifying money thing.
We have this snazzy logo andwe've been putting all of the
(04:29):
information out there to theworld.
We have a sold out conference,which feels incredible to know
that at least 150 women aregoing to be attending a
conference on financialeducation for women.
Let's talk about what to expectat this conference.
So I'll start with you, kate.
What can someone expect?
(04:51):
What are you presenting on?
Speaker 2 (04:53):
Well, we're going to kind of do soup to nuts right
from very beginning to veryadvanced things, and my portion
is the very beginning, right,everyone has to start someplace.
So we're going to talk abouthow do you get started investing
in all the things that you haveto kind of or should have in
place before you take that leap,and then maybe go through a
(05:15):
couple terms, just so you're alittle bit more familiar, and
then I've got a roundtable ofsome really experienced, really
really wonderful financialadvisors that we're going to
kind of debunk a couple of mythsabout investing and how do you
get started and just kind of acouple resources for people
around the area.
Speaker 1 (05:33):
And then I go next, actually.
So the next part of the programis talking to the audience about
caring for aging parents,everyone's favorite subject.
Just by way of background, I'man estate planning attorney,
even though I'm not practicing,and one of the things that comes
up as people progress in theirlives and in their careers is
that they find themselvessometimes in this sandwich
(05:54):
generation, where you're takingcare of people who are ahead of
you your parents, older lovedones and then you're also maybe
taking care of kids as well andtrying to manage your career and
your finances and theirfinances sometimes, and so I
thought it would be wonderful toput together a panel of experts
.
We're going to have estateplanning lawyers, we're going to
(06:16):
have a trust officer on thepanel and then a woman here in
town who helps elderly peopledownsize as they start thinking
about what's next they want toget rid of their stuff and just
having those conversations andhelping to facilitate that
transition in life, andhopefully that'll leave you with
(06:37):
tools to deal with that ifthat's happening in your life or
in a loved one's life as well.
Speaker 3 (06:44):
I'm super excited about the real estate investing
section.
It encompasses both passive andactive.
In real estate investing,active just means you know
you're kind of the person whofinds the deal, secures the deal
, finds the loan and managingeverything, even with a property
manager.
And passive is more like hey, Ifigured out the deal, people
are doing all the work.
I just wanted the money andafter I confirmed this is a deal
(07:06):
I want to invest in, did my duediligence and I just received
updates or distributions from it.
Obviously, there is pros andcons on both sides and sometimes
it's perfect for people to dopassive investing.
Sometimes it's not so good idea.
So we're just going to share alittle bit about hey, what are
the pros and cons on both sides?
Good idea, so we're just goingto share a little bit about, hey
, what are the pros and cons onboth sides, which may or may not
(07:28):
be a good idea for you.
Just kind of learning from mypersonal stories of active
investing and then went intopassive investing.
That's my business partner whowent into a similar path, but
she has a big family and howpassive investing helped her
focus on what matters.
So I felt like we'll havepeople with interesting,
(07:48):
different backgrounds, alongwith a few other panelists with
corporate career background ornon-traditional background just
women from all walks of life, Ican.
I think with that, women in theaudience can really take away
what could work for them outsidethe traditional stocks and
bonds.
You know the men in Wall Street, you know what's in the men's
(08:09):
street, right, so I'm excited toshare the knowledge on that so
other people can have theawareness to create their legacy
.
That sounds exciting.
Speaker 5 (08:19):
So yeah, so I'm next.
So I'm going to talk a littlebit about.
We have a keynote speaker andshe is a dear friend and I
worked for her at Walmart aswell, kat Terrell.
We're going to go back, we'regoing to call her Karen, karen
Ann Terrell, but yes, so she isgoing to come and talk to us
about what her experience is.
(08:41):
You know how does she go from,you know, just starting her
career doesn't have, you know,hand-me-down wealth and is
looking to.
You know really focus and buildher career.
And as she builds her career,you know that wealth starts to
build.
And then you know what do youdo with that, how do you deal
with it and how can you make itmake more for you?
(09:01):
And so she's going to share youknow really rock star story
about how she did it, what shethought and how she is looking
back to help support women asthey create their journeys as
well, and so it'll be a greatsuccess story for you to hear.
And then we're going to go intosomething a little bit more
advanced from an investingstandpoint and a little bit more
(09:24):
risky category as alternateinvestments.
So I work for a private equityfirm, so we look at very small
middle market companies, andthat's an area that I think we
don't hear enough about.
So I've got a panel of womenwho are going to come and talk
about their experiences ininvesting investing in companies
that may take up the realestate that Meecy is talking
(09:46):
about, but really are workingtowards creating that operating
capital.
I also am bringing in someonefrom the University of Arkansas
to talk about the companies outthere.
You know what does it look like, not just to invest, but you
know, you think aboutentrepreneurship and maybe you
don't want to start from theground up, maybe you want to
look at a company that alreadyexists.
So there's going to be a lot ofinformation at the 30,000-foot
(10:07):
view to talk about alternativeinvestments as you look at your
portfolio and think about whatyou may be interested in.
Jodi, do you want to share whatyou're doing?
Speaker 4 (10:17):
Sure, I'm going to talk about my favorite topic,
which is investing in yourcommunity.
So I've been serving as aphilanthropic advisor for the
last seven years and I work withindividuals who really care
about our region and they wantto leave a legacy, like Misi
spoke about, and they have donewell for themselves in investing
(10:40):
.
Some of them have done modestlywell and some of them have done
extremely well, but no matterwhat somebody's net worth, there
is a desire to give back, andwhether that's through
volunteering or advocacy orsupporting an organization with
your finances, I'm kind of thereto talk to people about
aligning their investing intheir community with their own
(11:03):
personal values.
So we're going to talk aboutsome charitable giving tools
that are available through anumber of companies and as well
as the Community Foundation, andon my panel I'm going to
spotlight an individual who hasbeen giving back for a number of
years.
I'm going to also have apanelist who has a corporate
(11:25):
giving fund and how that companyaligns their business values
with their employees' values anduses it as a way to retain
their employees by engaging themin the community, and then
we'll also have a financialexpert on our panel.
Kate Bergkamp will also betalking about why it is smart to
give back from a taxperspective and from when you
(11:48):
have an investment portfoliothat has done well, there are
ways that you can give back in areally tax efficient way.
Speaker 3 (11:54):
So that's a little sneak peek of what I'll be
talking about, even though Jodytalked about philanthropic
giving, impact investing, likeyou know, through giving.
But also in my panel, I alsohave someone whose focus is
impact investing throughactually, you know, investing
for profit companies and thebacklash portion also is tied to
(12:16):
real estate to some degrees,with the operating companies,
and you know, at the end of theday, most people have families
and to deal with aging parents,and all of that is not possible
if you don't have the rightmindset.
I know which, if you will talka lot more about as well, so I'm
super excited to hear moreabout that too.
Speaker 1 (12:32):
I'm just excited hearing y'all talk about it and
I kept smiling at you, becca,and I was like, don't make eye
contact, don't smile at her toomuch, because I'm getting
excited just thinking about you.
Know how awesome the event isgoing to be.
Speaker 4 (12:50):
So it really is going to build throughout the day and
there has been so much synergyalready in the various
components that we each bring tothe table.
Speaker 5 (12:54):
And I want to go back to some excitement, because I
think we all get very excitedevery week after we have our
Friday morning meetings, whichwe have been doing for months.
Speaker 1 (13:02):
Yeah, I was going to say weeks and weeks, at least
since May, since May.
Speaker 5 (13:06):
Yes, so it's been quite some time.
And so when you think back tothose very first few meetings,
and hey, we've pulled this grouptogether, you know we looked at
this from a like let's have acouple hour event in the
afternoon, and you know, then wewere like, okay, we want to
talk about this, and we want totalk about this, this, and
people need to know this, andand so now we have a almost a
(13:30):
full day.
I'm going to call it a um, amom's school day.
Yes, right, um, you know, a 30to 30.
Speaker 4 (13:38):
We know our audience.
Speaker 5 (13:40):
It really is so now it's become this this much more
broad.
Um, we thought, okay, if we canget to 150 people, that would
be like golden two weeks in andwe're there.
Three weeks in, we're there,and so that's gone really fast.
But if you talk about, you know, when we look at setting the
day, how do we want people tocome and show up?
Speaker 1 (14:04):
I want people to come show up and kind of put aside
all your assumptions or all ofyour judgments that you have on
yourself about money, right?
So, whether you should knowmore, whether you should have
more, whether you should havedone more, all the what a
shoulda, couldas, don't shouldon yourself, no, don't shoulda
(14:26):
not yourself at this conference,so just leave that all at the
door.
Y'all shouldn't knock yourselfat this conference, so just
leave that all at the door.
And when you walk into thatbeautiful space and it will be a
beautiful space at the recordjust know that you are amongst
co-collaborators.
I would like to say that thepeople in there are people that
everyone has different goals,but we're on this journey
together.
Right, you're co-laborers onthis journey.
(14:48):
You're coming in there to toget information, to give
information, to make connections, to network whatever it is you
need.
I want people to feel likethere's something on that agenda
for them.
Additionally, if there'ssomething that we've just
discussed that just sounds likeI, that is way path.
Just come with an open mind,because the first thing in
(15:10):
financial education is justbeing educated.
Right, there's so much that Idon't know.
I used to think that in order tobe a philanthropist, you needed
to have lots and lots of money.
You need to be a millionaire,you need to have made it.
But how do you do that whereyou are right now?
How do you give in yourcommunity where you are now?
That's something that'spersonally very intriguing to me
(15:30):
, and maybe you're already doingthat and you just don't call it
that.
And so how do we redefinephilanthropy?
That's also something that'ssuper important to me, and so I
want people to come in there andfeel like you can get fed and
you're also going to get fed.
Speaker 5 (15:43):
And you're also going to get fed.
Speaker 1 (15:44):
Because we've been going back and forth about the
menu and the desserts and thetreats and eats and the breaks
are going to be great.
So we're not going to hold youhostage and you're going to have
a good time.
Just come in there knowing it'sgoing to be a good time and no
judgment.
Speaker 2 (16:01):
There's no judgment from anybody who's going to be
there, right?
And we will have basicallyfinancial literacy 101, 201, 301
, 401.
And so, even if it doesn'tapply to you today, maybe it'll
apply to you then.
Speaker 4 (16:14):
Absolutely Well.
And I like to say too, if youthink that some of this content
might be beneath you, don'tthink that either, Because they
say in sales, if you've had agood meeting, the meeting needs
you, the meeting needs you.
Speaker 2 (16:28):
So if you're doing really, really well and you've
got things figured out, come andpour into the other women that
are just beginning their journeyand be somebody that they can
reach out to, and that's I thinkthat's what women do best is we
can pull, pull a friend alongor someone up along.
Look at the five of us, right,I mean we're here to be
(16:49):
philanthropic right.
Speaker 5 (16:50):
This is us giving our time on something that we're
passionate about and want tolift up our community and the
women in our community andreally showcase women that maybe
you've never heard of, maybeyou've never seen, but you know
that whole.
If I can see it, I can be it,it you know.
(17:13):
I hope that it sparks somethingin everybody, at whatever stage
they're at, to do somethingdifferent or to put a plan in,
because I think that's, you know, part of what I wish I had done
sooner and known sooner is thatI should have put a better plan
together.
We're not good at what it couldhave.
Right, you're right, we're not.
So I'm going to, I'm going toswitch to.
I'm putting in a better plannow and I hope others are able
(17:34):
to do it earlier than I did.
Speaker 2 (17:38):
Yeah, so I think it's .
Speaker 5 (17:38):
it kind of brings all of that back together in a
sense.
I mean, those days, theseplanning days, have been a lot
of fun and I've learned a wholelot, if you had told me we're
going to meet every Fridaymorning ahead of time.
Speaker 1 (17:53):
I'm like absolutely not.
That would be too much of a lift, right.
But as the conference grew andthe speakers and the
possibilities even when wedidn't have the funding but the
idea was there it was like mustsee TV Friday morning at 830.
This is what we do.
Like must-see TV Friday morningat 8 30.
(18:14):
This is what we do.
We've had members here onvacation out doing amazing
things.
They're like I'm just callingin, I'm in the car, I'm heading
to wherever.
It was just appointment, youknow, that couldn't be missed
and for the most part, that'sreally what we've just decided.
We're going to invest in thisand that was, I guess, our
philanthropy to the community.
It's like let's put this on andsee what happens.
(18:35):
We don't have an agenda.
Where this came about, itreally was.
I met one person, I worked withone person, they met somebody
else.
They followed up with thatperson.
Next thing, you know, here weare.
We're a committee.
Speaker 5 (18:48):
That is exactly what happened.
Speaker 1 (18:49):
I was like wouldn't it be nice if we had this?
And Macy's like well, I'm goingto go meet with these people,
met with those.
And it's like well, I thinkwe're about to do this.
I just thought about talkingabout it for years, but from the
different roles that we allhave.
Speaker 2 (19:04):
We all felt that there was a massive need for
this information and a massiveneed for the gathering.
Speaker 5 (19:10):
Yeah, and I think the response from the people that
have signed up was the sameright.
For it to go so quickly is abig reinforcement that the
conversation is necessary andalso from the sponsors too.
Speaker 3 (19:25):
I mean the sponsors.
They were really eager to helpthe type, the variety of
sponsors and Becca did a lot ofwork on that.
Speaker 5 (19:33):
Well, I think the team has done a really good job
of figuring out what areas, likewho benefits most from helping
support this conversation.
You know, when you think abouta foundation piece and then
companies that either are partof the real estate journey or
(19:55):
part of the alternativeinvestments or part of the aging
parents Making sure that wefill the room with great
sponsors and companies, but alsofill the room with people that
are not all the same company,not all the same roles, right?
So there's really, you know, agood cross conversation that we
(20:16):
expect to come out of this.
That you know.
I think I'm excited to see it.
And you know, when we talk aboutour Friday morning meetings, I
hope that this event becomesthat for people Like it's a I
can't miss.
You could have 50 other thingscome on your calendar that day,
but I hope that you choose thisevent because it is going to be
well worth your time.
(20:36):
And and we talk about the valueI think Jodi Jodi is our value
person.
Jodi, talk to us about.
Talk to us about what valuethese women would will be
getting.
Speaker 4 (20:49):
And some male allies we have some, a few dudes, yes
just from the cost perspectiveof what we have invested in the
conference and I'm not talkingabout the intangibles or even
the um, some of the in-kindcontributions that that our, our
attendees, will receive it's a200 per person value already
(21:11):
that's crazy so that's crazy,it's going to be nice it's going
to be so.
Speaker 5 (21:16):
So maybe we um talk a little bit about our why.
I know that that's, you know,really important for us as we
walk into this is you know whywe're doing this, what is it,
what is our philanthropic umpassion for this?
And so you know, let me see youwant to talk about your why?
Speaker 3 (21:34):
Yeah, sure, that's always a great and can be a
touchy subject, but for me, youknow, when I started in real
estate in 2019, doing kind ofactive investing and then later
on got into passive investing,whenever I went to investment
conferences I was probably likeone of the five women there and
like one of the only two Asianminorities there and it just
(21:59):
made me wonder, like, are womenjust not wanting this?
Are women like not equipped forthis?
Like what, what?
Why is there not enough women?
So I dug deeper as I gotengaged more locally, met people
like you know, all of you guyshere and I really shared kind of
the answers to my question.
You know, we kind of was kindof limiting belief right to even
(22:21):
have those questions.
So like, hey, women, we can doit.
Some of us want to do it, someof us didn't know how to do it,
some of us don't have anyinspiration to look up to.
I mean, I didn't have those.
So for me, it's really aboutcreating a sisterhood of like
you guys and girls, gals orothers as well to learn about
(22:45):
investing together.
Do investing together.
Educate each other together.
Do investing together.
Educate each other together.
Also, to help break limitingmindset around creating legacies
.
Growing up, I spent the first 16years of my life growing up in
China.
It was all about doing well inplanning and save and not much
(23:07):
of investing.
But you know, inflation can eateverything.
And, most importantly, likewhat you do with your money
isn't not just about growingnumbers but the value it creates
for the community.
But you know, also in yourself,we're a family as well.
So after seeing how others havedone that, like how my business
partner has done it for herfamily, so that she could focus
more on her family versus justdoing maintenance and toilets it
(23:30):
was really, I think yeah, it istrue, it is very traumatic
actually because in the pastyear she's been working on
offloading her properties andshe has like the worst, worst
stories.
One time she had a leak thatcost like $30,000, $50,000.
She detected.
One time a trio found her house.
It's all in the past year andmost recently there was a fire.
(23:56):
I'm like you got the.
You got the worst stories toshare.
I mean, I haven't had anythinglike that one without any of my
active portfolios, but it's likehey, if you're spending time
chasing out that right, like ifyou've never been exposed to
about the possibility ofleveraging other people's time
on talent.
You know it could bephilanthropic side, it could be
financial planning side.
If you're trying to doeverything on your own, if
you're not building a communitywhether it's sisterhood or just
community with similar mindsetsand beliefs and values it's very
(24:19):
exhausting to do it on your own.
So I just want to create thatsisterhood and break limiting
barriers in their beliefs and dothings together that could be
fun and value-based.
Speaker 4 (24:30):
Wow, a sisterhood of empowered investors, I like that
, yeah, yeah, Mine's very, verysimilar.
Speaker 2 (24:37):
I think you guys all know the story.
But a couple years ago myhusband got really sick and at
the time we didn't have anestate plan.
He had accounts and I hadaccounts and we had to pull it
all together and when he wasfinally on the path to getting
better, it was literally likethat light bulb moment that I
had been waiting 40 some oddyears to have a.
You know what was I going to bewhen I grow up?
(24:58):
And I was like, oh, why am Inot helping other women put
these safety guards into place?
Why am I not helping otherwomen explain to them some of
the things that are veryconfusing or just intimidating,
and why am I not being aresource to other women to help
them grow their wealth?
And so I started on a path tokind of get back into the
(25:18):
business, grow a business, andit's been awesome.
I've had some great stories.
I've helped a lot of peoplefrom zero and I've had people
come and bring me millions andit's great and it's a
collaboration and I like peopleto be involved.
People, they should know wheretheir money is.
They should know how it'sinvested.
(25:38):
I have one of my most favoriteclients is 80 plus, and she says
Kate, if I can't understand it,I don't want it.
So you know, it doesn't have tobe difficult, it doesn't have
to be difficult, it doesn't haveto be complicated.
You know, you need to knowwhere your running is, and so I
find it really important and,like I said before, this is a
(25:59):
dynamic group and I think doinghere is going to be great.
Speaker 1 (26:06):
I'll go next.
I think everyone here, everyonein the world, has a money story
and what that means issomewhere, somehow, some way
along the way, you've figuredout how you feel about money.
It was influenced by yourparents, by your community,
whether you had money or didn't,whether you saw your parents
talk about money or it was verytaboo and disrespectful or rude
(26:30):
to speak about.
And that influences us asadults and onward.
So there's no age barrier tothat money story and we're all
on a money journey.
And that concept really startedto intrigue me about probably
about five years ago when I usedto own my own law firm and then
I would do all of this planningand try to figure out you know
(26:54):
ways to increase revenue and allthat.
And I ended up taking thiscourse where we had to talk
about our money story and I waslike, well, what's my money
story?
And there were all theseexercises about really digging
deep and saying what was yourhousehold like when you were
growing up?
How was money talked about?
Did you use credit cards?
Were loans considered bad?
And I had to do like weeks ofwork on my money mindset and
(27:16):
then I got very intrigued bythat and how, regardless of how
much money you make, regardlessof whether you think you are
where you need to be or not.
You're carrying your moneybaggage, your money story with
you, and how do we leverage that?
And I think that one of thethings that we have to do is,
when menace talk about money, wejust have to talk about it.
(27:37):
We can't keep it as a taboosubject or one filled with shame
.
I know earlier I mentionedpeople feel, oh, I should have
learned this in school orsomebody should have taught me,
or I've made bad mistakes andall that.
Bring that all to the table andtalk about it, because there's
likely to be someone who's gonethrough what you've gone through
, who's experienced it, who cangive you their wisdom and can
(27:59):
show you another path forward.
Or just say, hey, I wentthrough it and look, I'm still
alive and I'm on the other sideof it, here's what I did right.
Or keep you from making similarpoor choices or decisions.
And, honestly, that's what makesme very excited about the work
that I do as a wealth advisor.
I get to see all kinds ofpeople.
(28:20):
I get to see people who havemillions and millions of dollars
and I get to see people who youthink have millions and
millions of dollars, but theydon't.
And it's one of the mosteye-opening roles is that just
because someone has moneydoesn't mean that their money
story doesn't right?
Or it doesn't mean that theydon't have money shame.
(28:40):
Or it doesn't mean that theydon't feel guilty about having
money or not having money.
It's like, hey, we're all inthe same boat together.
Why don't we talk about itinstead of feeling so isolated?
And I think that thisconference just aligns with that
.
And Kate used my favorite term,soup to nuts, which is
basically the beginning of ameal, starts with the soup and
(29:01):
ends with the nut, especially ifyou like Masterpiece Theater,
like myself.
But it is so exciting to get ina room because, like Karen Ann,
you don't know where you'regoing to end up.
Nobody knows where they'regoing to end up.
You might come into a whole lotof money.
We are on the precipice of ahuge financial transfer.
I estimate, say, up to $84trillion will be passed on in
(29:23):
the next 20 years.
What does that mean?
Practically, it means thatwomen are going to have more
money than they've ever hadbefore.
Women are going to have moremoney than they've ever had
before.
So think about your parents andyour grandparents and all the
people who have assets and howthey don't.
No one lives forever right.
And so what is the plan for thatwealth transfer?
To continue to do the ostrichmethod, where you put your head
(29:44):
in the sand and just hope forthe best, or be empowered and
start making decisions now aboutyour financial education so
that you're able to steward ifyou have money coming to you and
you may not but if you do whatyou're going to do with that or
what you need to do in order toprepare yourself for the next
level, or to prepare it totransfer it to the next
generation, because this is amulti-generational conference.
(30:07):
This is not a conference forjust young women or for women
that have hit executive status.
This isn't every.
If you are interested inlearning about money, this is a
conference for you, and so thatmakes me so excited, and I just
think it's just very, veryimportant work that we don't see
enough of globally.
Speaker 2 (30:28):
And to that point, 90% of all women will be in
charge of their own money atsome point in time in their
lifetime, right, whether it'sthrough.
You know you are in charge ofyour money for your family, or
you have a spouse that passes ora parent that passes but 90% of
all women.
Speaker 5 (30:44):
So you got to know you got to know.
Well, I think Ify's points kindof lead to you, jodi, so I'm
not going to comment, but I will.
Speaker 4 (30:54):
Well, as a nonprofit person, one of the things that
we always do is, you know and Ithink you did this in regular
business too a SWOT analysis.
Right, and who else is alreadydoing this, and do we need to
offer something?
I am a big believer in notduplicating services.
I'm a big believer in notduplicating services, and we
(31:15):
looked around and there's justreally nothing out there that is
focusing on this targetdemographic of women, that is
providing this level ofeducation and this ambiance of
bring your whole self and thisis a safe place and we can learn
together and we can askuninformed questions together.
No dumb questions, no stupidquestions, but we can ask
uninformed questions and we canlearn together and we can ask
uninformed questions together.
No dumb questions, no stupidquestions, but we can ask
uninformed questions and we'rethere to support each other
(31:36):
along the way, and so that justthat makes my heart happy.
Speaker 5 (31:41):
I love hearing all the stories and, misi, you
talked about being in a roomwith only like four women, and
you know, I went to a conferencelast year and I thought this
was like one of the bestconferences I've been to.
During that event, the peoplethat started it talked about how
they created this conference soit's three days, so not just a
(32:02):
one day but that they createdthis because they didn't see
anything out in the market thatgave them the information all in
one place with the samelike-minded people in the same
room, and so as we started totalk about this, I kind of went
back to that conversationbecause that's exactly what this
is for me, right?
(32:23):
This is the conference that Iwish we had had years ago, full
of women to talk about money,wealth and not have the money
shame or the money guilt.
You know, I'm sure that a lotof our audience and any
listeners here today willprobably have felt that at some
(32:45):
point.
I mean, I haven't talked tomany women that haven't had some
of that in their lifetime, andto get rid of that is super
empowering and freeing.
So that's really why I want todo it is that it's bringing the
information that I wish I hadand I think that the
continuation of the conversationis what I really want to see
(33:06):
for myself, and if I need itthen I'm sure there's other
women out there that need it,and so that was the passion for
me to get involved At that event.
There was very the conference Iwent to.
There was, I don't know, therewas probably, I don't know maybe
an eighth woman, don't knowlike maybe an eighth woman.
(33:28):
I mean, there was a lot ofpeople and so it was definitely
a lot harder and I'm a shortfemale and men in finance, I
guess, are really tall.
So I felt not only notrepresented in the room, I felt
like walked over and pushed likebecause I was just, I was an
(33:48):
eye level right, and so I'manxious to get into a room and
watch women really empower eachother, have conversations, and
not feel that pressure to notspeak or to shy away because it
feels dominated in another way.
Speaker 4 (34:11):
Thinking about both of you.
In the field of wealthmanagement, I mean, that has
been a male-dominated field forso long and as I have worked in
nonprofit and have partneredwith professional advisors,
wealth managers the women havebeen few and far between.
But an 80-year-old donor cameto me one time with a
significant gift to theorganization I worked with and
she said you know, my husbanddid all of our financial
(34:32):
planning, all of our life, andhe did very well for us.
And then he passed away and shewent into the financial
advisor's office who sort oftalked down to her and patted
her on the head and she said Itook that money and I moved it
to a woman who would speak to meas a peer and an equal and I
(34:53):
followed her example.
We didn't have a bad financialadvisor, but when we were
looking for one, I told myhusband.
I said you always tell me thatyou're going to go out with a
splat before I leave this earthand if that is the case, then
I'm going to be in charge of allthis and I want a young woman
working for us.
I didn't want somebody olderthan us because when I retire I
(35:18):
don't want her to retire and belooking for somebody new.
So you know, I think it'sreally important.
I think the room will be filledwith people that you can look
around and find.
You know who do I connect withand who is best for me, because
you're great and you're greatand I know about 50 other great
advisors.
But you have to find the personthat makes you feel most
(35:40):
comfortable, that you can sit inthat seat and ask your
uninformed questions and have nomoney shame.
Speaker 1 (35:48):
And get eye contact and get eye contact and respect
you are the customer.
And this is such a great pointbecause this is actually
something that's being discussedwidely in the field of wealth
management.
We talked about that wealthtransfer.
That's happening.
All this money is going to betransferred.
Women tend to live longer thantheir husbands if they have male
(36:09):
spouses, and what's going tohappen if you have no
relationship with that personinheriting the money?
It's such an opportunity forjust in the field.
It is an opportunity butespecially as women, you know to
have that power and say no, Idemand respect, this is my money
(36:29):
, this is what we built, orthese are our assets or my asset
, and I want the courtesy of.
I don't understand this.
Please explain that to me again.
Is this in the best interest ofwhat I'm trying to achieve?
And hopefully this conferencewill give people the ability to
know no, you're in control ofyour money.
You get to say yes or no or sayyou know what we're going to
(36:52):
pull it.
That's not working for us.
I don't feel like you'reaccessible to me or that I have
enough to be considered a keycustomer, Because you have to
trust your instinct when itcomes to money and the money
decisions.
If something doesn't sit rightwith you, believe that and trust
that there's somebody else thatcan help you too.
Speaker 2 (37:12):
It's not easy, it's not Find the right person, and I
think that's part of you know.
Another thing we're going tobring some resources.
You know, I just had aconversation with a friend who
is an advisor for a very largecompany in another city and her
minimum client has to have fivemillion dollars.
Right, and I said really, andshe said I know I hate it
(37:33):
because there's so many peoplethat have less than five million
that need that help, and sothat's part of the problem with
the industry as well.
Right is that we've got thesevery lofty goals and some people
just don't know where to, andeverybody has to start somewhere
.
Yeah, everyone has to taketheir very first step.
Speaker 5 (37:51):
So yes, when I think that also, you know, when you
think about the type of peoplethat need and crave this
information I mean, probablyhalf of them are just starting
out right and so you know youcan't expect to be at those
levels.
Yeah, when you're just startingout.
Speaker 2 (38:08):
It removes people from the conversation because
you're like this is not for meright, and that's part of the
problem is how the conversationcomes but and and we helped a
client who has a um, a bluecollar job like right, and, and
sent money back to his homecountry, brought his siblings
(38:28):
over and he just saved, andsaved, and saved, and he had
millions and millions, and so wedon't have to have these very
lofty jobs that pay hundreds ofthousands of dollars.
It's the consistency, it's thediscipline of saving and putting
money away and investing andbuilding.
Speaker 5 (38:46):
Well, and also, you know thinking about your
salaries right and how younegotiate, what you're bringing
in and or benefits, right and Ithink that's something that I
know I wish I had moreinformation about.
Is that and what to do withthose things?
Because you know you just takehis money and then what do you
do?
It burns a hole in those things.
Because you know you just takehis money and then what do you
(39:07):
do?
It burns a hole in your pocketand so you want to spend it, and
you know that's a piece thatyou just don't think about.
And moving from job to job,like what are the values of
those, what are the benefits?
And then what are some of theconsequences too, because every
dollar made, every dollar spent,has some type of impact, and I
(39:28):
don't think that there's a lotof conversation around that
either.
Right, and how to plan better.
Speaker 3 (39:34):
And also following along with what you said about
from job to job and sometimesfrom job to no job.
Yeah, exactly To reality a lotof people like financial
planning for cushion funds oreven having side hassles or
passive income, whether fromstocks and bonds or real estate
or other assets, operatingcompanies.
I mean you want to have thatcushion right, because when it
(39:55):
stops coming, how, what do youdo right?
Your mortgage payments don'teven be made, your kids,
education and all thesedifferent things just being half
lose, just being access, havingaccess to all this knowledge.
You don't have to, you know, gomake an investment today, talk
to financial advisor right away,but you should at least start
thinking about what are thepieces you have missing from the
(40:17):
conference, hopefully, and whatcan and cannot work for you so
that you have more cushions andwhat I call is peace of mind and
freedom, so you can focus onwhat matters.
That's one of the reasons mycompany is called Life Mission
Capital, because I feel likeeveryone has their own life
mission.
If you help them, give enoughcushions and I see that in the
wealthy versus non-wealthy a lotLike people make choices in
(40:41):
their career and habits and etcetera because they're not
wealthy or they don't feel likethey have enough, but the ones
who feel like they do, theypursue their hobbies, their
passion.
I mean, it's also mindset youdon't have to have the money to
live a good life, but it doeshelp to a good degree.
So how do you continue tointroduce that cushion, that
income, to help you live a moremeaningful life?
(41:04):
So I feel like that's the coreof what gets me excited.
And going back to the why andwhat we're doing this Right.
Speaker 5 (41:12):
And I think the demystification and demystifying
was really our key word, right.
Speaker 1 (41:18):
How did we come up with demystifying in our
scripted time?
Speaker 5 (41:23):
So Karen and I have had this conversation a lot and
she wanted to do a dinner withsome friends of hers to talk
about private equity and doingthis demystifying investment
dinner.
Right, you know, 10, 12 womenget around a table and talk
(41:49):
about what they're doing or notdoing or here, and so really
that that was kind of whatstarted the passion.
And I know I think we talked alittle bit about it, Ibi, when
you came to the office.
Speaker 1 (41:59):
Yeah, because I met with you together the first time
Talking about women, and I'mlike, oh, this is good and great
, but like, like, where, wherecan this go?
Yeah, and here we are.
Speaker 5 (42:08):
Here we are, um, and so here and so we you know, ours
was very specific around, youknow, private equity and
investing, and then, as westarted to talk together, we we
kind of, you know made it thatbroad women, um, instead of you,
just yeah.
So that also as we thoughtabout, like what does this look
like?
We've come together, we're likethis thing has gotten really,
(42:31):
really big and you know whathappens next, and so we really
wanted to leave it open to makesure that you know it could grow
however it needed to grow.
Speaker 1 (42:42):
So the organic after when you said a three-day
conference, I had the firstflash that oh my god to read in
conference like fully, I wouldintend it.
Speaker 5 (42:54):
You know what I mean absolutely where is that
happening?
I was like oh, no more fridaymorning, more friday mornings,
um, yeah, maybe, maybe I canreach out to them and see if
they lend some some time andsupport no and so yeah, that's
how we we created thatdemystifying because it is right
, it is, it is.
(43:15):
And to debunk the myths aroundmoney and the, the shame and
guilt.
Speaker 1 (43:23):
But to acknowledge that those things are there, but
not let them be limitingfactors in moving forward.
You know, right, there's stillsomething that can be done from
wherever you are.
Today, you know, we've hadpeople come in.
We ended up helping themconsolidate debt and we were
like, oh, this is a greatprospect, oh, okay.
Well, she will be a greatprospect after we get some
(43:45):
things, and that's also verysatisfying to help someone
because if they're not sleepingor they feel like the burden of
just their money issues likelet's give people a chance to.
Okay.
Here you are today.
What can we do today?
Speaker 5 (44:02):
How many of you have had sleepless nights because of
money?
Speaker 3 (44:06):
I mean right, Usually around the big purchases and
those decisions, and is thisright or not right?
Speaker 4 (44:12):
Or when the markets go or they're looking at the
house and your interest rates,yeah.
Speaker 5 (44:17):
Oh, okay.
So I mean, you know, if allfive of us have, then you know,
I know we're in the right plateand we talk about money as part
of our work.
Speaker 1 (44:26):
So it's almost we are like unicorns in our profession
and being able to just talkabout money every day, Right?
Like we're talking aboutpeople's money every day and
there are so few of us in ourrespective spaces that do that
kind of work, much less aregular, you know, I don't know.
In the law we call them laypeople, but it's.
(44:47):
It's always sounds so likedemeaning, but someone who's not
in that space, just trying toget whatever they have to get
done done.
How do they enter thatconversation and feel like, okay
, I have a seat at this tableand that this is something I
need to really press into andreally focus on?
Speaker 4 (45:03):
And often lay people just don't even know where to
start.
Like, who do I call first?
Do I call a brokerage firm?
Do I call a bank for the wealth?
I'm not eligible for privatebanking.
Speaker 2 (45:15):
I don't have wealth.
How?
Speaker 5 (45:16):
do I find there's no yellow pages really anymore to
just flip through.
Speaker 4 (45:22):
So how do you even find that person?
And if you haven't been toldfrom your you know the folks who
gave you the money, oh well, weuse so and so you know my mom
would talk about where some oftheir money is, not that they're
just very average, but theywould talk about and I'd say,
why are these all men's names?
You know, all these investmentfirms were just a bunch of white
(45:45):
men's names and I'm looking forthe day when there's going to
be, you know, good mix.
Speaker 5 (45:51):
Yes.
Speaker 3 (45:52):
Women owned investment firms.
Speaker 1 (45:55):
You know More options .
Speaker 4 (45:57):
Yes, we need more.
Speaker 5 (45:58):
Yes, and I think there's more options out there
that we don't even know, and soI hope also this conference
brings forward resources.
Speaker 1 (46:05):
Yes, that we haven't, that haven't in our community
Right.
Speaker 5 (46:08):
That we haven't even discovered.
Or you know, I mean we have thefive of us have a very large
network of women in these spaces, but even sometimes we ran into
some, hey, we don't haveanybody in these spaces and we
don't know anybody in thesespaces, and so I hope that you
know, with this type ofconference and conversation it
(46:28):
brings forward more resources.
Speaker 3 (46:32):
Which they will get, will have a QR code with
resources in our community thatthey can hear more about.
So they have to attend theconference.
Speaker 5 (46:40):
You have to attend the conference.
Must be present, must bepresent, but what about?
Speaker 1 (46:44):
people who are hearing about this and we've
said we've sold out ourconference and it kind of feels
a little hopeless.
What would you say to someonelike that, who's jazzed to hear
about it, wants to sign up andthen finds out we're sold out?
Speaker 5 (46:59):
Well, I know that we are going to continue the
conversation for a little while,you know, through podcasts.
We are going to continue theconversation for a little while,
you know, through podcasts.
So I know we're going to have acouple of people, a couple of
speakers, come in and talk alittle bit and then we're going
to have some interviews withsome sponsors.
So I know that we've got someinformation out there and as
(47:21):
soon or I guess it's probablyalready happening We'll have a
LinkedIn page.
So you know, people could askquestions and we'll just see
organically how it goes.
Speaker 1 (47:28):
And I think that if we provide a space for people to
share ideas and maybe they wantto hear about a specific topic
that's something that we'd bevery open to seeing what happens
after this conference and thenalso we have a wait list, we do.
Speaker 5 (47:43):
Oh, yes, yes, the wait list.
Um so don't just despair.
Speaker 1 (47:48):
Um, you know, people register and things happen, and
so if it's something that isimportant, make sure you
register, put your name on thelist in case there's a spot that
opens up so that you can yeah,and next, to make sure you
register early, yeah we don'teven get to open it up to the
pub now, so much.
Speaker 2 (48:09):
now you know what this all reminds me of.
Have you ever gotten like agreat recipe from a friend or a
recommendation for a hairdresseror a landscaper?
And if you know who that personis and you appreciate who they
are, you're like great.
I don't need to check anyreference, I'm in.
Right, this is kind of whatwe're offering to people, right,
like we're giving you theresource.
(48:31):
Yeah, it's a great recipe thatwe're giving it.
It's a great recipe.
Speaker 4 (48:37):
Yeah, yes, so that's exciting.
So, speaking of people that werereally grateful for sharing
recipes and sharing a vision,our sponsors shared our vision.
They caught on early that thiswas something that we needed in
our community and they werewilling to invest in us and the
planning of this initiative andalso the logistical expenses
(48:58):
that come along with planning areally nice event.
So thank you to Arvest forstepping up right away, and to
Blue Marlin also, and LifeMission Capital.
And then we also want to thankPodcastVideoscom, who's
graciously allowed us to come inand record today and we'll be
getting it out there on theinterwebs everywhere, and, of
course, ingeborg Initiatives,because they really understand
(49:20):
the importance of women havingthe power and influence and
access to their own financialresources.
Speaker 5 (49:27):
And to Arkansas Community Foundation, Jodi as
well, for helping support usfrom the nonprofits.
Speaker 3 (49:34):
Well, I can't believe this conversation is coming to
an end.
What great chemistry we had inthis room here.
All five of us are superexcited to host this event on
September 17th and we believeyou all get great value from the
event, and also we're superexcited for other sponsor and
attendees as well.
If you want to follow along ourjourney how we help women
(49:56):
domestic buying money, pleasefollow us on LinkedIn.
Women domestic buying moneywill also share our waitlist
information for those whocouldn't make it into this round
so far.
Please follow along and please.
Women love sharing, sharing iscaring and for that too, a
friend, anyone you know thatcould benefit from this.
I would love to see you on ourfuture steps of our journey.
(50:18):
See you next time, thank youyou.
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