Daily Archives: April 13, 2022

April is Financial Literacy Month

The National Financial Educators Council (NFEC) defines financial literacy as possessing the skills & knowledge on financial matters to confidently take effective action that best fulfils an individuals personal, family & global community goals.

keywords? Take Effective Action.

This week I want to talk about the very basis and foundation of financial planning, the pillars on which this is all built, namely your income and expenses. How are these connected? How do they fit into an overall financial plan? How and what action should you take?

There are two types of Income Active Income and Passive Income. Active Income is earnings you earn by being physically present to work (does not have to be geographical). This includes salaries as an employee and owner drawings as an owner. Passive Income is all income you earn when not physically present or by ownership. It includes rents, dividends even your share as a silent partner in a business.

If you are employed, you earn a salary; even as the business owner, you get paid by showing up. The active earnings you make are time-bound because you cannot work forever. Thus, the plan is to slowly convert your active income to passive income. Created a closed system when you invest, then reinvest your earnings from your portfolio to compound your returns. See figure 1.

An example will be you earn N500,000 a month. You have a plan to save a minimum of 10% of every paycheck, thus N50,000. Therefore, your action goal is to invest N50,000 into an asset class that either

Thus, if you buy Zenith Shares with that N50,000, you want to take dividends paid by Zenith Bank and buy more income-generating assets or expense reducing future expenses like paying for rent.

Goal: To plan to convert 100% active income to passive income over a period. Keep it simple, target 1%, then 2%then 3% over

Figure 1. Relationship between Income and Expenses

Just like income, there are two types of expenses. You have your Non-Discretionary Expenses, which are expenses you must make irrespective of income or even ability to pay, for instance, food and rent. We can call these necessary expenses. Then there are Discretionary expenses, which are expenses you are at discretion to make. Expenses like a holiday to Greece or a new suit fall into this category.

With expenses, spending becomes critical. Spending is an activity based on emotions. Humans are not always rational when making spending decisions. Remember that every naira earmarked as non-discretionary means fewer funds are available to be spent as discretionary. If all expenses are tagged as essential then it makes budgeting a cumbersome process.

Your total income, (both active and passive) should meet and exceed expenses. If your expenditures exceed your income, you can either cut back on spending or learn a skill and grow your income. Cutting back on spending is 100% in your control. Its also not easy to distinguish between Non-Discretionary and Discretionary spending. Take food, is eating out at a restaurant non-Discretionary? You can save money by eating at home.

The long-term goal is to ensure not only your income meets expenses, but the acid test is how much of your passive income can offset your non-discretionary expenses. See figure 2

Managing expenses is creating and using a budget to capture and track spending. Your budget should have all four elements

I write about this in more detail in my book Lets talk about your money

There is a gap between income and expenses, which is usually covered by debt. Its important not to borrow to fund non-Discretionary expenses but to use debt to grow passive income generating sources.

Retirement is not a chronological date but the period when your passive income can meet and cover your non-Discretionary expenses. Again, we refer to diagram 2.

Figure 2: Financial Independence

Your goal, employee, or employer, is first to earn an income, then slowly invest that income to earn and grow your passive income. Next is to seek to pay your essential non-discretionary expenses with the income from your passive income. Once you can achieve that, you have hit your financial independence milestone and can retire.

Its that simple.

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The secret to financial independence is when your passive income crosses this milestone - Nairametrics

The financial independence movement is inspiring new followers - as young as 28 - who want to quit their day job and do their own thing.

The pandemic has prompted people like 30-year-old Michelle Ives to realise how fragile her financial security is.

"Anything can happen that has the potential to shake the normalcy of our lives. It has reminded me of what matters - it's not sitting at a desk for eight hours a day," says Michelle.

She is drastically overhauling her family's finances, so they have more control over their lives. She wants to have the freedom to make choices about her life and work.

Michelle was already plugged into the growing personal finance movement that offers an abundance of information about saving and investing online. It is FIRE, an acronym for financial independence, retire early. As well, there is a more laid-back version, FI, or financial independence.

"If anything, the pandemic has just encouraged us to reach our goal more aggressively," says Michelle.

Michelle and her husband are saving 70% of their income and hope to retire in a few years. They have been FIRE followers for seven years. While she loves running her own copywriting business, she wants to take back her life while she is in her 30s and healthy, and to get out and enjoy it.

"In some ways, COVID-19 has actually galvanised the importance of FIRE for many because we've now had a glimpse of what a better work-life balance feels like."

People have increasingly realised that they don't want to be stuck in a soul-crushing job, with long commutes, well into their 60s. They didn't want the anxiety that comes with working flat out, explains Serina Bird, who was connected to a work chat group and emails with alerts pinging from early morning until late at night.

So much so that two in five Australian workers (43%) are unhappy with their work and are planning to actively search for a new job in 2022, according to a survey by Elmo Software. Workers are prioritising more flexibility, working remotely more often, access to extra annual leave as well as increased wages and promotion.

A third of workers say they plan to quit their current job as soon as they secure a new role, with 19% intending to quit before lining up another job.

"The 'great resignation' is a thing and most employers don't get it," says Serina, who retired at 47 from a desirable public sector position.

There are newcomers switching onto the FIRE and FI philosophies to get rid of debt, rigorously save, invest sensibly and enjoy a modest, agreeable life. Those people on the FIRE journey retire in their prime.

"The pandemic has reinforced for many the value of the basic building blocks of FIRE, such as having a cash cushion in uncertain times," says Jason, who has accumulated $2.7 million and will retire early next year.

FIRE is based on the philosophy of Peter Adeney, aka Mr Money Mustache, who kicked off the movement in 2011 (see mrmoneymustache.com).

It is about building up enough investments so you can live off the returns for the rest of your life. Once you hit the point where the income exceeds your living expenses, you no longer need to work because you are financially independent.

Adeney came up with what he calls a "shockingly simple" formula. You take your annual expenditure and multiply it by 25. This calculation is based on "the 4% rule", where retirees withdraw no more than 4% of their total savings each year.

He says if you can save 50% of your take-home pay from the age of 20, you can retire at 37. If you can save 75%, you can retire in seven years.

Adeney's "mustachianism" lifestyle is about 50% cheaper than that of most of his peers and the surplus is invested in simple exchange traded funds and a rental house or two. He has inspired not only our six case studies but has resonated with millions of followers.

The philosophy of FIREs isn't about getting rich quick, but about taking a slow path. Forget about market timing - trying to find the best time to get in and out of the market - because, as Adeney says, it generally sucks.

The FIRE movement is evolving in a time of interesting financial changes. While the focus is still on saving and taking frugal steps, it is also about the choices that open up as you edge towards financial independence.

You can fire up any part of your life with a FI strategy. It can mean you live overseas and travel 52 weeks a year. You can volunteer to help others. Or, in Tasha's case, you can have a baby on your own.

You can connect with all sorts of FIRE communities for support and feedback from real people.

Financial independence increasingly is for people who don't want to retire young or sacrifice too many of life's indulgences, but want flexibility in their lives.

"Early retirement conjures up hazy images of long golf games and pastel leisurewear," says Jason. "For seekers of early retirement, this vision doesn't connect with them very often - they are usually highly motivated and goal-oriented people with no desire to sit around on the couch for 30 to 50 years following early retirement."

"Many actively seek alternative passion projects, or to simply approach work from a strong negotiating position. This has led many to observe - myself included - that it's the financial independence we seek first and foremost, with the retire early part being optional or even irrelevant."

Dave Gow, who retired at 28, says: "You can choose your own adventure. It's not a one-size recipe for early retirement."

Some FIREs, like Matt, who runs the Aussie Firebug podcast, wants to "start a small business, spend time with my family and not have to commute to work".

Matt says he has always wanted to be able to scale back his work from five to three days a week when kids came along.

"Also, the free time to keep fit is a priority for me. I understand that when kids come on the scene things change and most people give up some of their 'me' time. I don't want to sacrifice my health and still want to be able to do all things I do now," he told the blogger Adventures with Poopsie.

Some people may not believe that retiring early in their 20s, 30s or 40s is really an option, but our case studies show that you don't need a windfall or a high-paying job or a lucrative tech start-up to retire early.

Serina, Leo, Michelle all show it is possible to save and retire early with a young family despite plenty of people telling them that financial independence wouldn't happen if you had kids and all the financial responsibilities that came with them.

Of our six case studies, Dave, Serina, Michelle, Jason and Tasha run blogs. Dave Gow hasstrongmoneyaustralia.comand, with Pat Seyrak fromlifelongshuffle.com, hosts fortnightly podcasts, FIRE & Chill. Serina Bird:joyfulfrugalista.com. Michelle Ives:thatgirlonfire.com Jason runsthefiexplorer.comand doesn't give his real name as he is apprehensive about talking to his work colleagues about his plans to retire early. Nataasha Torzsa:tashagetsfrugal.com.

The pandemic, and now the Russia-Ukraine war, have challenged short-term plans for some FIREs, especially those who enjoy travelling.

Jason, for example, says his plans to travel around Australia and overseas are now "up in the air". But it's also an opportunity to "keep my head down investing, until the outlook becomes a little clearer".

The economic fallout from the war may also hit saving and investing targets in the short term, but it's the long term that counts.

"The war in Ukraine is many things - most obviously an urgent and tragic humanitarian event as well as an opportunity for giving - but it is not a reason to change overall investment direction for someone seeking financial independence through a well-diversified portfolio," says Jason.

Markets, especially sharemarkets, tend to climb a wall of worry and expand even across periods that are objectively challenging.

"There are always sensible-sounding reasons to hold off investing, and await more certainty, but inaction just delays the powerful force of compounding returns getting underway over time. Putting in place simple automatic systems can help avoid the temptation to just wait and see that can end up costing investors dearly as markets recover and grow."

Jason says most major events reflected in newspaper headlines today will have little impact on returns over long-time investment frames of 10, 20, and 50 years.

Stay tuned over the next three weeks as Michelle, Serina, Dave, Leo, Tasha and Jason share their FIRE journeys. Or,order a copy of the April issue of Money!

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How the pandemic has 'galvanised the importance' of early retirement - Money magazine

How to find the right financial adviser for you. Getty Images/iStockphoto

Question: Im about three years from FIRE (Financial Independence, Retire Early) status and have been looking at placing a portion of my investable assets with an advisor, which would still be seven figures. As Ive been conducting interviews with many of them, they all have two areas of concern that I do not like and give me pause. One, they want to charge a fee even if they are not making my assets grow (they get paid no matter what the portfolio does), and two, they want me to place my assets all at one time, whereas I prefer a leg in strategy over time, much the way I handle any stocks I buy. Since I dont know the advisor nor their firm, Id like to move assets over in tranches, perhaps 25% each quarter for 4 quarters. (You can use this tool to get matched with a financial adviser who might meet your needs.)

Have a question about working with your financial adviser or looking to hire one? Email chill@marketwatch.com.

Are these expectations of mine unrealistic, and am I going to have a very difficult time finding an advisor that fits my preferences with which I am comfortable? Ive been in the markets for over 20 years and have been comfortable, up to this point, in managing my own investments. But I want to spend less time on that and allocate time to other pursuits during my second act, and I also want to be sure the investments are being managed for my wife in the event I predeceased her since she is not financially savvy.

Answer: Lets start with your first issue: why all the advisers wanted to charge you a fee no matter how the assets performed. Thats probably because one of the most standard fee structures among financial advisers is for them to charge a percentage of your assets under their management (roughly 1% is common). They do it because markets do go up and down, and advisers want to protect themselves. And adds Steve Stanganelli, certified financial planner at Clearview Wealth Advisors: Many, not all, investment advisers will also be providing retirement projections, portfolio withdrawal scenarios, advice on Social Security, tax projections budgeting and cash flows or even real estate issues in addition to standard rebalancing and investment allocation. No doubt, they want their time on those tasks paid for as well, so the assets under management system may work well for them.

Thats not to say that you cant find someone who doesnt work like this. Some advisers charge performance-based fees, though certified financial planner Mark Brinser of Stewardship Advisors says this may be difficult to find. Performance based fees are when an adviser only collects a fee if they outperform a certain benchmark and the fee is forfeited if the adviser does not beat the benchmark, says Brinser. This compensation method was actually banned for registered investment advisers for a time, and now, its only allowed for clients who meet certain criteria. (You can use this tool to get matched with a financial adviser who might meet your needs.)

And one thing to note: Even in a traditional assets under management model, should an account value drop and the dollar amount decrease, the adviser still has an incentive to make good investment decisions to help the account recover as quickly as possible, says Brinser. In fact, I would argue that a good financial adviser demonstrates their value the most when markets are volatile. We can listen to clients concerns and help them develop a strategy to get through market turmoil, says Brinser.

One option you may want to consider is paying an adviser hourly or a one-time fee to set you up a plan. You might be able to enlist an advice-only, fee-only, certified financial planner to help streamline your investments to a point where you can still enjoy your pursuits without handing it over to someone else, says Jay Zigmont, certified financial planner and founder of Live, Learn, Plan. The challenge is that you are going to have to find a sweet spot between do-it-yourself and delegating responsibility, says Zigmont. For this reason, you should work with your adviser to create a comprehensive financial plan that takes into account both your preferences and consideration and the advisers approach and experience. (You can use this tool to get matched with a financial adviser who might meet your needs.)

Zigmont says its not odd for people to move only part of their portfolio to an investment adviser and plenty of advisers should be willing to work with you on this.

So why did the advisers not let you move money slowly over to them? One possible reason is this: The more assets they have under management, the more they take home from your accounts, so they want more, not less money. Some firms even have asset minimums. Advisers can make such accommodations given a clients particular circumstances, but each firm has an assets under management minimum for a reason, says wealth adviser Bruce Tyson at Morton Wealth. The reason firms may have minimums is to keep their client roster within a certain range and to possibly dissuade short-term investors from taking up time that could be spent on longer-term clients. And moving over the funds in increments creates special challenges when planning a clients asset allocation. As with any business, there is much more under the hood than most clients may initially realize, says Tyson.

You can use this tool to get matched with a financial adviser who might meet your needs.

If youre concerned about your less money-savvy spouse, Stanganelli says you should consider adding life insurance to the mix. This will provide replacement income and even liquidity for any state-level taxes that your wifes estate may ever end up having to pay, says Stanganelli.

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2 things all the financial advisers I talked to told me that I dont like - MarketWatch

Money has a bit of a bad rep. Especially when women prioritise their financial well-being above marriage or having children. But at the same time, every woman has, at some point, faced the inevitable question of whether she should let her life partner take care of her financially or continue to remain largely independent.

Which is why we just had to talk about thisRedditthread where women are discussing what they would do if their partner asked them to quit their job, in exchange of financial support. Maybe we can all find something to relate to in here? Let's take a look.

-contextISeverything

-Idrialis

-windysunshine

-kitty_withlazers

-Idrialis

-freckled8082

-No_Airline_970

-19CatsInATrenchCoat

-Batsarebest

-WuTangraisedme

Financial independence is freedom. You never know what could happen and he would always have the upper hand. Want space? Too bad cant afford it. Want some thing he doesnt want to pay for? Too bad, cant afford it. He does something warranting breaking up? How will you afford leaving? Itll be hard, it'll take much longer. Big nope. Unless there is some form of monetary compensation for running the household (and using your tax credits, in certain countries).

-Ladidaladidi

-MyLife-is-a-diceRoll

-malaavida

-tsh87

-Kind-Set9376

-shrimpfajita

-Joia_Floof

-ClaireHux

What would you do if you were in a similar position?

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18 Women Reveal What They Would Do If Their Partners Asked Them To Quit Their Jobs - ScoopWhoop

Press Release - Apr 12, 2022 12:00 EDT

CALVERTON, Md., April 12, 2022 (Newswire.com) - Potomac Financial Group (PFG), a Maryland-based provider of premier financial planning and wealth management services,announced today that Managing Partner Todd Wike has once again been named to Forbes'distinguished list of America's Best-in-State Wealth Advisors. Out of approximately 34,925 nominations,the annual ranking spotlights more than 6,500 advisors who are researched, interviewed, and assigned a ranking based on an algorithm of qualitative and quantitative criteria. This is the third consecutive year Wike has appeared on the prestigious list, which was released on April 7, 2022.

"To be recognized among the nation's leading wealth advisors for a third consecutive year is an honor and tribute to the entire PFG team," said Todd Wike, Managing Partner at Potomac Financial Group, Financial Advisor and CERTIFIED FINANCIAL PLANNERprofessional at Raymond James Financial Services."In these uncertain and often volatile times, we understand more than ever our important role in delivering financial confidence to our clients. It's this very commitment that drives us every day as we help our clients find their financial freedom."

The Forbes ranking of Best-In-State Wealth Advisors, developed by SHOOK Research, is based on an algorithm of qualitative criteria, mostly gained through telephone and in-person due diligence interviews, and quantitative data. Those advisors that are considered have a minimum of seven years of experience, and the algorithm weights factors like revenue trends, assets under management, compliance records, industry experience and those that encompass best practices in their practices and approach to working with clients. Portfolio performance is not a criteria due to varying client objectives and lack of audited data. Out of approximately 34,925 nominations, more than 6,550 advisors received the award. This ranking is not indicative of an advisor's future performance, is not an endorsement, and may not be representative of individual clients' experience. Neither Raymond James nor any of its Financial Advisors or RIA firms pay a fee in exchange for this award/rating. Raymond James is not affiliated with Forbes or Shook Research, LLC. Please visit https://www.forbes.com/best-in-state-wealth-advisors for more info.

Visit PotomacFinancialGroup.com to learn more about PFG's wide-ranging financial planning and personal wealth management solutions.

Media Contact:SaraAulebachExecutive Assistant & Marketing CoordinatorPotomac Financial GroupTel: 301.595.8600Sara.Aulebach@RaymondJames.com

About Potomac Financial Group|Since 1973, Potomac Financial Group (PFG) has served as a premier financial planning and wealth management firm singularly committed to helping its clients and families achieve financial independence and security. With almost 50 years of combined experience, PFG has grown to be one of the region's most trusted financial planning firms through its innovative financial solutions and commitment to exemplary personal care. To learn more, visit PotomacFinancialGroup.com.

4061 Powder Mill Road, Calverton, MD 20705Phone: 877.595.8605

Potomac Financial Group is not a registered broker/dealer and is independent of Raymond James Financial Services. Securities offered through Raymond James Financial Services, Inc. Member FINRA/SIPC.

Investment advisory services are offered through Raymond James Financial Services Advisors, Inc. Certified Financial Planner Board of Standards Inc. owns the certification marks CFP, CERTIFIED FINANCIAL PLANNER, CFP (with plaque design) and CFP (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements.

Source: Potomac Financial Group

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Potomac Financial Group's Todd Wike Named to Forbes' 2022 List of Top Wealth Advisors for Third Consecutive Year - Newswire

(Justin Paget via Getty Images)

As people are living longer and many young adults are struggling to gain financial independence, about a quarter of U.S. adults (23%) are now part of the so-called sandwich generation, according to a Pew Research Center survey conducted in October 2021. These are adults who have a parent age 65 or older and are either raising at least one child younger than 18 or providing financial support to an adult child.

Americans in their 40s are the most likely to be sandwiched between their children and an aging parent. More than half in this age group (54%) have a living parent age 65 or older and are either raising a child younger than 18 or have an adult child they helped financially in the past year. By comparison, 36% of those in their 50s, 27% of those in their 30s, and fewer than one-in-ten of those younger than 30 (6%) or 60 and older (7%) are in this situation.

Men and women, as well as adults across racial and ethnic groups, are about equally likely to be in the sandwich generation, but there are some differences by educational attainment, income and marital status. About a third of married adults (32%) are in the sandwich generation, compared with 23% of those who are divorced or separated, 20% of those who are living with a partner, and just 7% each of those who are widowed or have never been married.

To assess the share of U.S. adults who are in the sandwich generation, that is, who have an aging parent age 65 or older and are raising children younger than 18 or providing financial support to adult children, the Center surveyed 9,676 U.S. adults during the period of Oct. 18-24, 2021. Everyone who took part is a member of Pew Research Centers American Trends Panel (ATP), an online survey panel that is recruited through national, random sampling of residential addresses. This way nearly all U.S. adults have a chance of selection. The survey is weighted to be representative of the U.S. adult population by gender, race, ethnicity, partisan affiliation, education and other categories. Read more about the ATPs methodology.

Here are the questions used for the report, along with responses, and its methodology.

Adults with at least a bachelors degree (30%) are more likely than those with some college or less education (20%) to be in the sandwich generation. And while 27% of those with upper incomes are sandwiched between an aging parent and their own children, a smaller share of those with lower incomes (21%) are in this situation. About a quarter of adults with middle incomes (24%) are part of the sandwich generation.

The family circumstances of sandwiched adults vary considerably by age. In their 30s and 40s, most have an aging parent and at least one child younger than 18, but no adult children theyve supported financially. This is the case for nearly all sandwiched adults in their 30s (95%) and 65% of those in their 40s.

By the time theyre in their 50s, far smaller shares of sandwiched adults are raising children who are minors. Instead, a majority of those in their 50s (59%) and those 60 and older (83%) are sandwiched between an aging parent and an adult child theyve helped financially.

Among those in their 40s and 50s, the two age groups most likely to be in the sandwich generation, about one-in-five have both a child younger than 18 and an adult child theyve helped financially, in addition to having an aging parent. There arent enough sandwiched adults younger than 30 to analyze separately.

Adults who are sandwiched between an aging parent and a minor child or an adult child theyve helped financially are more likely than those who are not in this situation to say they are very satisfied with their family life (48% vs. 43%, respectively). This difference is particularly pronounced among those in their 40s: About half of sandwiched adults in this age group (49%) say they are very satisfied with their family life, compared with 38% of other adults in the same age group.

When it comes to assessments of some other aspects of life, adults who are and are not sandwiched give similar answers. About a quarter in each group say they are very satisfied with their social life and with the quality of life in their local community, and 17% in each express high levels of satisfaction with their personal financial situation.

Adults who are sandwiched between an aging parent and their own children are about as likely as other adults to live in a multigenerational household, though they may not be living with the family members they are sandwiched between. About one-in-five in each group live with multiple adult generations under the same roof (19% of those in the sandwich generation vs. 18% of other adults).

A Pew Research Center survey conducted in 2014 also found that 23% of U.S. adults were in the sandwich generation. However, the 2014 survey was conducted by phone rather than the Centers online American Trends Panel, so these results arent directly comparable.

Note: Here are the questions used for the report, along with responses, and its methodology.

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More than half of Americans in their 40s are 'sandwiched' between an aging parent and their own children - Pew Research Center

In North America, the issue of diversity within the financial workplace has improved in the past few years.

A report conducted by McKinsey and LeanIn.org found that at an entry level, women accounted for 52% of the workforce and had also significantly improved at senior levels. Despite this, female representation is still low, especially for women of color. From entry to C-Suite, the number of women of color fell by 80%.

Although representation varies according to the sector, the results are clear; there is still much work to be done to enhance diversity within the financial services industry.

The issue affects not only the people who aim for a career in the financial sector but also the engagement of the general public with companies and the development of varied, innovative solutions to improve the whole of the general population.

McKinsey reported back in 2015 a correlation between greater diversity and increased profits. They stated, Our latest research finds that companies in the top quartile for gender or racial and ethnic diversity are more likely to have financial returns above their national industry medians.

While correlation does not equal causation, the correlation does indicate that when companies commit themselves to diverse leadership, they are more successful.

Various reports and surveys since, carried out by entities such as the Harvard Business Review, have corroborated this conclusion.

As we see that entry-level percentages are now relatively equal, it seems that the problem lies not only within the employment itself. It is the access to the culture surrounding the employment that for many is so essential to climbing the career ladder.

According to Women in Consumer Finance (WCF), the issue comes from three primary sources; access to a professional network, problems with confidence, and lack of career examples.

The annual event focuses on targeting these issues and improving female access to employment opportunities in a holistic and immersive way.

Stephanie Eidelman, CEO and WCF conference co-chair, said, It feels like everything Ive done has led me to Women in Consumer Finance. I have often found myself to be the only woman in a room or one of just a few.

As I think back on my career, I realize that nobody ever really took me under their wing. Although Ive achieved success, I cant help but wonder how it might have been different if I had a stronger hand guiding me along the way.

Women in Consumer Finance is designed to be that guiding hand for anyone who needs it.

Established in 2017, the WCF event aims to bring a community of female finance professionals together, enrich the sector, and support ambition.

The WCF sees a lack of opportunity to access the same social networks as men in the sector, resulting in a disadvantage when applying for promotions, especially at a senior level.

They have found there to be a general lack of confidence when applying to senior-level roles and a lack of leading female role models for entry-level women to follow and learn from.

With the use of the event as a focal point, they have various programs which tackle these issues during the conference and throughout the year. Through the Magic is in the Connection and The WCF Advisory Board programs, they target the problems of networking, confidence, and mentorship head-on with small focus groups matched together by the WCF administration.

In addition, they have introduced the use of the Storyboard, an online platform for articles and testimonies, providing insight and guidance for female professionals.

The co-chairs of WCF, Stephanie Eidelman and Shelly Sheppick, both come from established backgrounds, dedicated to improving the communitys access to career prospects. Sitting on the boards of LIFT and For The Good, they integrate the work they do with WCF into these initiatives.

The two charities focus on empowering women and families to lift themselves out of poverty and financial exclusion.

LIFT provides families with life coaches tailored to family needs to achieve long-term goals and professional connections to create financial stability. For the Good is based in Kenya and is directly involved in improving girls education, encouraging inclusion in secondary education, and financial independence as they grow into womanhood.

We partner with hand-picked organizations where we can make a real impact to help support women and girls, said Eidelman. We support them both financially and via exposure through the conference and inspiring content during the year.

The event targets deep-rooted issues and preconceptions with a three-day networking experience. Ranging from group activities and excursions to panel discussions and team-building seminars aimed at building connections, the conference sets out to enrich the professional outlook of the attendees.

The personal focus on active network building within small groups and story sharing is said to create a friendly and intimate atmosphere.

Testimonials from women at all levels of the career ladder praise their approach, valuing the opportunity and the importance of the event in their professional path during the following year.

This is not a passive listening exercise but rather a 100% immersive experience. There is nothing else like it. In short, we take a unique approach to building confidence, connection, and careers. concluded Eidelman.

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Isabelle is a creative project manager and freelance journalist with a BA Honours Degree in Architecture and a MA in Photography and Visual Media.

With over five years in the art and design sector, Isabelle has worked on various projects, writing for real estate development magazines and design websites, and project managing art industry initiatives. She has directed independent documentaries on artists and the esports sector and assisted in producing BBC Twos Venice Biennale: Britains New Voices.

Isabelles interest in fintech comes from a yearning to understand the rapid digitalization of society and the potential it holds for our future, a topic she has addressed many times during her academic pursuits and journalistic career.

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WCF tackles the issue of diversity head-on - LendIt Fintech News