04-10-19 Manisha Thakor, founder of MoneyZen, Helping Women Better Understand Money
Manisha Thakor demystifies the basics of personal finance and helps women increase financial fluency.
Financial Literacy and Women
- Women live longer than men, which means they need more money than a man in their older years.
- Women spend more time outside of the work force caring for family members, which means that over the course of their career, women earn less, save less and have retirement portfolios that grow slower.
- Companies are no longer offering traditional pension plans, meaning that individuals are fully in charge of their own retirement planning.
Ouch! Couple those tidbits of information with the fact that many women, for whatever reason, haven’t learned much (or anything!) about finances, financial planning or money at all, and you can see how becoming financially literate at any age is vitally important for women! It also shows why this show is one you MUST NOT miss!
Manisha Thakor, founder of MoneyZen, is passionate about helping women better understand money, and she is here today to help you, as well as all the women in your life learn a bit more about money.
Find Manisha’s Top Tips Here:
- Do not invest any money in the stock market that you need to spend in the next five years. The stock market is for long term investment, not short term growth.
- Ask your financial advisor if they operate under a fiduciary standard or a suitability standard. A fiduciary has to act with your best interest in mind, but the suitability standard only requires your investment advisor to offer products that are suitable for you, which may be in his or her best interest, and not yours!
- Ask what your “all in fees” are. They should be less than 1.5%. Over 30 years’ time, an extra percentage point can eat up 20% of your total investment revenue.
- Ask your financial advisor if they have an active or a passive investment style. Manisha likens an active investment style to driving in the fast lane, cutting in and out of traffic in hopes of getting ahead. Sure, sometimes it might work, but it’s dangerous and more often than not, you end up in the same place as the driver who safely drove the speed limit and stayed in the right lane.
The future is yours! Better make it safe, secure and supportive!
Bio: Manisha Thakor is the Vice President of Financial Wellbeing at Brighton Jones, an innovative Seattle-based wealth management firm devoted to helping clients from coast to coast “Live a Richer Life” – literally and figuratively. At Brighton Jones she spearhead a variety of multi-media initiatives designed to help clients incorporate financial wellbeing into their overall self-definition of personal wellbeing. Her favorite part of this work is hosting the True WELLth podcast. This 25-minute show airs every other week and is focused on helping listeners craft lives that integrate social, emotional, physical and financial wellbeing TrueWELLthPodcast.com.
Manisha is also the Founder of MoneyZen LLC, a boutique financial educational consultancy providing select keynote speaking and financial literacy workshops to organizations focused on financially empowering women and families. Known for making the complex simple, the cornerstone of Manisha’s financial education work is a concept she calls “MoneyZen,” a joy-based approach to personal finance honoring the core values of simplicity, freedom, and abundance. MoneyZen.com
Manisha is the co-author with Sharon Kedar of two critically-acclaimed personal finance books aimed at women in their 20s and 30s: ON MY OWN TWO FEET: a modern girl’s guide to personal finance and GET FINANCIALLY NAKED: how to talk money with your honey. Manisha is also on Faculty at The Omega Institute’s women’s leadership center where she teaches a course on financial wellbeing and is also a Visiting (Personal Finance) Teacher at the Institute for Integrative Nutrition. Manisha is extremely proud to serve on the board of The National Endowment for Financial Education. She also sits on the advisory board of Savvy Ladies, a non-profit focused on financially empowering women in need through educational seminars and access to pro-bono CFPÒ practicioners.
Manisha’s financial wisdom has been featured in a wide range of national media outlets including CNN, PBS, NPR,The Wall Street Journal, The New York Times, Barron’s, Money,The Today Show, Rachel Ray, Real Simple, Women’s Day, Glamour, Essence, Cosmopolitan, and Women’s Health to name but a few.
Manisha earned her MBA from Harvard Business School in 1997, her BA from Wellesley College in 1992, is a CFA charterholder and a CFP® practitioner. She lives in Portland, OR where she revels in the amazing Third Wave Coffee scene and the stunning outdoor beauty of the Pacific Northwest.
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Love the pointers provided. I have 3 young adults starting their career/financial journeys and the info provided will set them up financially way better than what I have had to struggle with as a single parent w limited resources. Everyone should start planning, saving and investing earlier rather than later!
Thank you for your feedback Paula, I hear you as I was a single parent as well. Manisha’s wisdom surely is making a difference, so other women won’t have to struggle.
I am thrilled that you are sharing your newfound knowledge with the young adults in your life. I agree that we should all plan and invest, and I wish I would have know a lot of this information a lot sooner than I did!