In honor or Women's History Month, we take a look at two culinary icons, Julia Child and Rachael Ray. These two pioneering ladies changed the way we cook, and their lessons transfer to finance as well.
The financial industry tends to focus on “high net worth” clients, but there are many advisors who prioritize working with “the mass affluent.” Having a trusted advisor who is a fiduciary – puts your interest first - can make all the difference. Make sure she takes the time to “deconstruct” each step in your financial plan, and that she doesn’t move forward with any investment strategy until you have enough information and understanding to make an educated decision.
Ray invites viewers to relax and be willing to make mistakes and be flexible with ingredients. Her infamous “garbage bowl” tip is a great timesaver and one I’ve incorporated intovideos. When you watch her on TV – she also has a daily talk show – it’s obvious that Ray is the opposite of pretentious. In fact, she refuses to call herself a chef because she never had any formal culinary training.
Ray prioritizes giving us the confidence to take charge in the kitchen and the courage to put our own personal spin on flavor and ingredients. Her relaxed and “saucy” presentation style has created legions of fans of all ages. Along the same lines, your financial plan should be comprehensive, but not intimidating or pretentious. Women especially are notorious for believing that they cannot manage their own finances, even though we live longer, own more businesses, and tend to oversee family spending.
Too often, our instinct is to defer to men for financial decisions, whether they be fathers, brothers, or husbands. Child and Ray invite us to claim our culinary power, and I invite you to trust yourself when it comes to understanding and making financial decisions.