Money Matters 2024 - Your Unique Wealth Building Journey
On March 3rd, 2024, Vestpod's Money Matters festival took centre stage at the iconic KOKO in Camden, London. Our second panel discussion included Clare Seal, Claer Barrett, Lisa Picardo and Tiwalola Ogunlesi who shared their unique paths to building wealth and finding fulfilment.
The discussion didn’t disappoint, and our amazing panellists offered valuable insights into the evolving and complex nature of wealth and the importance of intentional productivity in achieving financial goals.
The panel explored changing ideas about productivity and career decisions, supporting various ways to balance work and life while also examining ways to gain financial empowerment. Talks covered pensions, investing, and ways to negotiate and boost income. It also focused on personalised financial planning and asked: what strategies serve you and your life best?
Moderated by: Tiwalola Ogunlesi, life coach and founder of Confident and Killing It.
Speakers:
Clare Seal, the author of Real Life Money, The Real Life Money Journal and Five Steps to Financial Wellbeing.
Claer Barrett, Financial Times columnist, Host of Money Clinic podcast, TV Expert ITV Lorraine and author of ‘What they don't teach you about money’
Lisa Picardo, Chief Corporate Officer at PensionBee.
PERSONAL REFLECTIONS
Claer Barrett kicked off the discussion by sharing her unconventional journey to success. For Claer, the concept of wealth used to trigger a sense of unease, associated more with inheritance than personal achievement. Growing up without affluent privileges, she understood the value of hard work firsthand. Success, to her, was about fulfilment and financial stability crafted through dedication and passion.
Her career path was far from traditional. Working her way up from the Investors Chronicle, she defied the odds and secured her place in the competitive landscape of financial journalism. Claer’s journey emphasises the importance of seizing opportunities and embracing your unique path to success.
Meanwhile, Lisa Picardo's journey offers a glimpse into the impact of early financial literacy. Raised in a family that migrated with minimal resources, Lisa learned invaluable lessons about money management from a young age. The openness within her household gave way to a healthy dialogue around finances, laying the foundation for her future.
Lisa’s money awareness helped her in her professional ambitions, including internships at investment banks. Through her story, we appreciate the power of education and proactive engagement with financial concepts.
Clare Seal's journey is all about resilience in the face of adversity. Struggling with overwhelming debt and financial instability, Clare faced a moment that began her financial transformation. She was faced to confront her precarious financial situation head-on.
Through vulnerability and self-reflection, Clare navigated the complexities of debt repayment and career progression. By being honest with herself and seeking support, Clare exemplifies how you can reclaim control of their financial destinies and build a path towards financial security.
REDEFINING PRODUCTIVITY
Claer Barrett offered insights into redefining productivity on the path to wealth building. Amidst the hustle and bustle of professional life, Claer talks about the importance of prioritisation. Learning to say "no" and allocating time to meaningful endeavours are key to optimising productivity.
Claer underscored the value of cultivating relationships and leveraging networking opportunities. By nurturing connections and showcasing one's contributions, you can amplify your impact and advance your career.
Lisa also gave a nuanced perspective on productivity, challenging the conventional emphasis on sheer output. Instead, she urged women to consider the multifaceted elements of their careers over the long term. From financial considerations to work-life balance and personal fulfilment, productivity includes a spectrum of factors that contribute to success.
BALANCING CAREER AMBITIONS AND FAMILY RESPONSIBILITIES
Tiwalola reflects on the challenges of juggling career aspirations with family commitments, resonating with Clare’s experiences of feeling torn between work and motherhood. Clare’s reflections highlight the need for a nuanced perspective on success, one that spans decades of a career rather than fixating on acute moments of decision-making.
As women navigate the demands of professional advancement and personal fulfilment, it is essential to cultivate self-compassion, prioritise family moments, and embrace the fluctuating nature of our individual lives.
EMBRACING SELF-ADVOCACY AND BOUNDARIES
The challenges of overcommitment and the importance of setting boundaries are real. The emphasis on the power of saying "no" resonates deeply, highlighting the need to prioritise one's own well-being and aspirations amidst societal pressures.
We are reminded to focus on what truly brings joy and fulfilment serves as a guiding principle for navigating the complexities of work and life. Individuals can reclaim agency over time and resources by discerning between commitments that align with personal values and those that drain energy.
PRACTICAL STEPS FOR NEGOTIATING BETTER FINANCIAL OUTCOMES
Taking cues from their own journeys, the panellists share tips for women to improve their financial lives:
Leveraging Side Hustles: Claer Barrett emphasised the value of side hustles in diversifying income streams and honing additional skills. When it comes to your side projects, negotiating some flexibility and recognition can be a game-changer, boosting both job satisfaction and financial security.
Advocating for Fair Compensation: Lisa highlighted the importance of advocating for fair compensation and benefits in the corporate world. Women must assert their worth, seek transparency on salaries, and leverage professional networks for support and guidance.
Setting Competitive Rates: Clare Seal talked about the significance of setting competitive rates and valuing one's time and expertise in freelancing and entrepreneurship. Seeking professional advice, conducting market research, and negotiating confidently are essential steps in securing favourable financial outcomes.
Embracing Negotiation as a Skill: The panelists acknowledge that negotiation can bring up emotions and uncertainty, particularly when discussing one's worth. However it’s important we learn negotiation skills, communicate our value with clarity and confidence, and seek support from mentors and advisors.
SECURING FINANCIAL FUTURES
When it comes to financial planning, the panelists discussed the importance of proactively managing pensions, retirement planning, and long-term financial goals.
Start Early and Save Consistently: Lisa talked about the significance of starting early and saving consistently for retirement. By harnessing the power of compounding returns, individuals can build substantial pension pots over time.
Be Strategic with Investments: Claer encouraged women to be strategic with their investments and consider diversifying their portfolios to maximise returns.
Address Career Breaks: The panelists also discussed the importance of addressing career breaks and mitigating the impact on pension contributions. Whether due to maternity leave, caregiving responsibilities, or career transitions, women should proactively manage gaps in pension savings to safeguard their financial futures.
FINAL THOUGHTS
As the panel draws to a close, Tiwalola reflects on the transformative potential of overcoming imposter syndrome and embracing financial empowerment. By reframing self-doubt as a catalyst for growth and adopting proactive strategies for financial planning, individuals can chart a path to greater confidence, resilience, and prosperity:
Normalise discussions around imposter syndrome
Invest in and prioritise self-development.
Take control of your financial future by proactively manage pensions, retirement planning, and long-term financial goals.
Challenge negative narratives and self-limiting beliefs.
Panel #2: Crafting Your Future: Unveiling Women's Unique Wealth Journeys.
Catch up on Money Matters 2024:
Ottolenghi at Vestpod's Money Matters Festival 2024. Credit: KOKO
Candice Brathwaite and Emilie Bellet talking about redefining wealth. Credit: KOKO
Thank you to our partners:
At JPMorgan Chase, we believe that we have a responsibility to harness our business and policy expertise, research, data, talent and global presence to help create greater economic opportunity for more people.
PensionBee is incredibly passionate about helping women to save for retirement and eradicating the gender pension gap once and for all.
The Financial Times is one of the world’s leading business news organisations, recognised internationally for its authority, integrity and accuracy.
KOKO is an iconic London venue featuring live music, electronic nights, art exhibitions and a dynamic cultural calendar of events within its private members club The House of KOKO.
EQ Investors (EQ) is a B Corp wealth manager with an emphasis on providing high quality financial advice.
Live Nation Women is a division of Live Nation with a mission to power progress for women.
L’OCCITANE is a real romance novel; a simple story of being in love with nature and Provence, where some of the very best ingredients in the world can be found.
TOM FORD BEAUTY is a covetable collection of cosmetics, skincare, and fragrances, shaped with Tom Ford’s distinct vision of modern glamour and crafted with quality and luxury.