#131 Sallie Krawcheck: Nothing Bad Happens When Women Have More Money

The Julia La Roche Show

In this conversation, Julia interviews Sallie Krawcheck, the CEO and founder of Ellevest, about the economy, the role of women in finance, and the retirement crisis.

Sallie shares her assessment of the economy and markets, emphasizing the importance of long-term investing and the historical growth of the stock market. She also discusses the significant impact women had on the economy in the past year and the growth of Ellevest as a platform for women's wealth-building.

Sallie reflects on her initial skepticism about starting a women-focused investing firm and the importance of overcoming imposter syndrome with a growth mindset. The conversation concludes with a shared love for their alma mater, UNC, and a reminder to support and promote women in finance.

Takeaways

• Long-term investing in the stock market has historically delivered strong returns, making it a scalable way to build wealth.
• Women played a significant role in the economy in the past year, defying stereotypes and embracing their spending power.
• The retirement crisis disproportionately affects women, who have less wealth and live longer than men.
• Women tend to be better investors than men, as they are less likely to panic and trade frequently.
• Men have a crucial role to play in advancing gender equality and supporting women's financial empowerment.

Chapters

00:00 Introduction and Gratitude

00:46 Assessment of the Economy and Markets

03:12 The Role of Women in the Economy

04:48 Update on Ellevest

07:33 Sallie's Initial Skepticism and Change of Perspective

10:26 The Retirement Crisis and its Impact on Women

12:48Women's Investment Behavior and Performance

16:02 Regional Banking Crisis and Risks

20:01 Incentive Structures for Bank Executives

20:48 The Role of Men in Advancing Gender Equality

23:57 Overcoming Imposter Syndrome with a Growth Mindset

25:33 Shared Love for UNC and Closing Remarks