On Air with Ella - podcast episode 280
Money is freedom. Why do we avoid talking about it?
Kimberlee Davis' life suddenly went horribly downhill after her divorce. Her ex-husband abruptly stopped paying alimony and in one day, her and her children’s financial future was on very tenuous ground.
Your Partner is not a Plan. - Kimberlee Davis
"I have been pondering the relationship of women and their fiscal responsibility to themselves for quite some time due to very unfortunate financial problems that I had to circumnavigate over the years. My story could have had a very different ending – a sad ending where mine and my children’s futures could have been negatively impacted and my retirement a nightmare.
How did this happen? I would never do anything to purposefully put myself and my children at risk. It happened because I did not have my priorities straight, was not vigilant, didn’t take preventative action, and didn’t have 'uncomfortable' money conversations. As a result, for several years I was entrapped by fear and uncertainty."
Women have unique financial issues and concerns that they must confront over the course of their lives that differ from men’s. Many of our base truths about money are formed by our upbringing and the people in our lives. We are not born with preconceived notions about money, hence it is within our control to change our mindset, reprogram and secure our financial futures.
It is risky to live in denial, and Kimberlee is encouraging women to agree to get uncomfortable in the short-term by asking the right questions and taking preventative action to secure future calm financial waters however life unfolds.
Her mission is to help all women of all ages and wealth levels embrace their responsibility to themselves to achieve solid financial footing in both calm and turbulent times.
For several years I was entrapped by fear and uncertainty. - Kimberlee Davis
In this episode:
How did Kimberlee's financial devastation impact her life and mission?
The "motherhood penalty" you didn't know existed
Why prenups are critical even if you have no assets when you marry
Kimberlee's children will lose their inheritance if they do not secure a prenup!
How prenups protect women and how to talk about them
Is using a credit card ok?
Why you shouldn't use a debit card online
Should you co-mingle your finances with your partner or spouse?
Ella does and Kimberlee does not. Kimberlee explains why.
Should I pay off student loan debt or start saving for retirement first?
I make a decent living and I want my money to be making more money for me, but I have absolutely no idea where to start. Besides funding my retirement account and having a savings account, where do I get started if I want to invest?
Financial planning and investing are not available only to wealthy people!
How (and when) to get started with a financial manager with $50, $500, or $5000!
Why Kimberlee is not a fan of crypto currency
What is the best way to stop living month-to-month?
The two most important numbers EVERYONE should know
Kimberlee’s book The Fiscal Feminist: A Financial Wake-up Call For Women (2022) provides guidance with thoughtful strategies pertaining to personal finance, advocating for yourself, negotiating a raise, retirement planning, buying property, making investments, managing relationships with others, preparing for marriage and the creation of prenuptial agreements, navigating divorce, and estate planning. Her passion is to inform and educate women about their fiscal responsibilities and she attributes this to her own life lessons.
Today, Kimberlee has more than 25 years of finance, legal, and corporate experience and is a Managing Director at The Bahnsen Group, a wealth management firm where she specializes in personal wealth advising, and financial, retirement and estate planning solutions, for high net worth individuals and multi-generational families. She is also a Certified Divorce Financial Analyst focusing on helping women transition to financial independence after life-altering events such as death or divorce. Kimberlee is the host of The Fiscal Feminist, a podcast and platform about women and their relationship with money and finance.
CONNECT WITH KIMBERLEE
IG: @thefiscalfeminist
LinkedIn: www.linkedin.com/in/daviskimberlee
Podcast: The Fiscal Feminist
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