How to build wealth
Women generally earn less than their male counterparts, are often the primary caregivers for children and aging parents, and are heavily targeted by advertisers. Does anyone in the LGBTQ community look familiar? So how can we? all Build wealth to level the playing field?
Hear the benefits of building wealth
Benefits of building wealth
Allegra Moet Brantly is the founder and CEO of Factora Wealth, a platform designed to empower women to build real wealth through community, education and events. She spent nine years in corporate America, living paycheck to paycheck despite a six-figure salary, before reinventing herself as an entrepreneur. Allegra is passionate about helping women increase their earning and investing potential to achieve financial freedom.
In this episode of Queer money®, Allegra tells us what inspired her mission to help one million women achieve a net worth of $1 million. We discuss the parallels between women and the LGBTQ community when it comes to money, and Allegra offers insight into the value of developing financial literacy within a community. Listen to Allegra’s advice on spending in accordance with what makes you happy, and learn some simple strategies for starting the money conversation with your friends and colleagues.
Make sure there is space between what you earn and what you spend so you have money for the most important expense, Future You. – Allegra Moët BrantlyClick to tweet
Wealth creation topics covered
What inspired Allegra to help 1 million women make $1 million
- A basis for a comfortable retirement
- Can be reproduced again and again
Allegra’s insights into living the American dream
- Taught to go to college and get a good job
- Most people don’t ask questions and live with discomfort
The three asset classes with which we can build wealth
- Paper
- Property
- Business
The parallels between women and the LGBTQ community
- Earn less money for the same role
- Standard caregiver for aging parents
- Targeted spending on consumer goods
Why Allegra focuses on developing financial literacy
- Teach to build wealth (separate time and money)
- Align your spending with what brings you joy
Allegra’s take on saving for an emergency fund
- It depends on WHEN and not IF an emergency occurs
- Will not plunge financial life into a crisis
The value of learning about money in a community
- Creates responsibility
- Help women HAVE more (not just earn more)
Allegra’s advice for starting the money conversation
- Speak to colleagues to expose injustices
- Talk to friends about financial life
- Write down goals and share them with others
Factora Wealth’s partnership with Capital One
- Need for discussion on the topic of women + wealth
- Host a live event series to talk about money