Creating Wealth with Ellevest

Let’s talk about money. The gender pay gap is a real thing. It’s why teachers, a female dominated profession, get paid less than police and fire fighters, both male dominated professions. Don’t even get me started on the differences between the inequities of retirement contributions between these three professions Hint, teachers contribute to our retirements out of our paychecks each month, while police and firefighters don’t (at least that is true in California).

When women make more money, everyone in the society benefits because women are more likely than men to share their wealth with their family and community. Women need to be smart with what money we do get paid. Unfortunately, women also on average do not invest their money in the stock market. As a woman, one place that I invest my money is Ellevest. This is a company started and run by women.

I invest a little bit of my pay check each month into Ellevest’s impact investment portfolio which invests in companies that advance women leaders and policies. companies that are sustainable and accountable, and companies that provide services to the community. According to Ellevest, “There are more CEOs named John or David than there are total women CEOs in the US.” When we invest in women leaders, it adds $28 trillion to the global GDP, and women leaders hire and pay women more.

I am really impressed with how my money is performing in this impact account from Ellevest. Not only is my money growing at a far higher interest rate (right now, I am earning 10% interest on my money) than my savings account (which is earning next to nothing), but I know that my investments are also making the world a better place.