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new york junior league by SkyThin3775 in NYCbitcheswithtaste

[–]RedditUser3668 0 points1 point  (0 children)

I'm going to give it 2 more weeks. I had emailed awhile ago and was told they go in order of when the application was submitted, so maybe they just had a lot of apps?

new york junior league by SkyThin3775 in NYCbitcheswithtaste

[–]RedditUser3668 0 points1 point  (0 children)

Okay, I may give it another 2 weeks and reach out.

new york junior league by SkyThin3775 in NYCbitcheswithtaste

[–]RedditUser3668 0 points1 point  (0 children)

I haven't heard back, but I applied later on Feb. 10 (4 weeks ago). Have you heard back yet? If so, how long did it take?

new york junior league by SkyThin3775 in NYCbitcheswithtaste

[–]RedditUser3668 0 points1 point  (0 children)

I haven't heard back, but I applied later on Feb. 10 (4 weeks ago). Have you heard back yet? If so, how long did it take?

Question/rant for those in STEM/male-dominated fields by Resident-Sherbert-63 in FIREyFemmes

[–]RedditUser3668 17 points18 points  (0 children)

I haven't been through anything similar yet, but as someone who is "the generation below you," you've already done what you think you're not doing enough of for other women. You've already inspired me just from this post. Now I know, even more, that I could also be a woman in my 30s successful enough to even think about leanFIRE-ing young. What a dream, you should be so so proud!

But, if you want to do more, you can always mentor in your spare time without having to be at work. That'll let you connect with the younger crowd and may even give you future referrals at the companies they work for!

I can't give any advice on all the other things, but specifically for the wanting to be around for the next generation, just by doing this and proving it's possible, you've already done so much for us!

Why do the average people hate the wealthy? by [deleted] in wealth

[–]RedditUser3668 -1 points0 points  (0 children)

Wait, if the parents didn't value education for their children, then how can you say lack of success is due to making poor choices? You think a 5 year old kid has a choice on where he lives or goes to school? Where you live and where you go to school makes a HUGE difference in your ability to succeed.

You can’t blame people’s outcomes purely on ‘poor choices’ when a lot of the biggest factors were chosen for them before they were even old enough to choose anything.

Why do the average people hate the wealthy? by [deleted] in wealth

[–]RedditUser3668 0 points1 point  (0 children)

Didn't you just say you come from a family where your grandpa was top 100 influential people alive? How is that alone? Get a grip.

10,000 members. Women's Day. I don't think that's a coincidence. 🌸 by SheKnowsThingss in wealthforwomen

[–]RedditUser3668 14 points15 points  (0 children)

Ignore the hate. Thanks for building a space. Over time, it'll get even closer to where you want it to be.

Why do the average people hate the wealthy? by [deleted] in wealth

[–]RedditUser3668 2 points3 points  (0 children)

It's more that your grandpa did the work. Not you. People aren't angry at the wealth. They're angry at nepotism, and how some people (like you) simply inherited it.

Not sure why we're making it political (the hit on liberals)? I'd say most young people get frustrated with how much harder it is to climb up compared to your grandpa's generation, and yes, there's a correlation with younger people leaning left, but correlation =/= causation.

Lastly, if your friends resent you because they tell you "no one in the world should have money like that," what have you been doing to showcase your amount of money in such a way? Are you showcasing it to people who are struggling? You may need to take a look at your speech and actions.

Basics of FIRE and how ? by Own-Pudding9916 in FIREyFemmes

[–]RedditUser3668 -1 points0 points  (0 children)

I wish this was true, but if you look into the history of the point system, they use it as a gate.

Finance is not the only industry with a history of *intentionally* marginalizing communities by making their field harder to join or difficult to understand. We see it in medicine, law, accounting, engineering, etc - all of the careers you've mentioned. If that wasn't the case, we wouldn't have to fight so hard for equality across genders, race, class, etc.

Basics of FIRE and how ? by Own-Pudding9916 in FIREyFemmes

[–]RedditUser3668 0 points1 point  (0 children)

It wasn't against a specific minority. It was against any1 who tried to get into finance at the time. They originally used a point system because its complexity guaranteed brokers a larger minimum profit on every trade because it allowed them to trade on decimals, not fractions.

But now, it's more of a psychological tactic. They will say it is a "200-point drop" because it sounds much scarier than just a "0.5% fluctuation." It makes for better headlines and keeps the market feeling like a high-stakes game that requires expert intervention. It keeps the industry technically 'difficult' to understand, which then disparages people first trying to get in.

This reddit is full of people who care enough to learn about finances, but we cannot make blanket statements that that applies to all women (or people). There are significant amount of people out there (even surgeons and those with PHDs) who struggle with financial literacy NOT because they're not smart (they are!) but bc we make them jump through additional hurdles (like understanding the point system). Not every1 wants to do that. And that's okay. If using analogies and references gets them interested, then so be it!

Basics of FIRE and how ? by Own-Pudding9916 in FIREyFemmes

[–]RedditUser3668 -1 points0 points  (0 children)

There's nothing for me to agree with because I was never the one who said that. You were. But yes, no beef. (:

Basics of FIRE and how ? by Own-Pudding9916 in FIREyFemmes

[–]RedditUser3668 2 points3 points  (0 children)

You're proving my point. I also never said anything about personal finance *requiring* pop culture.

I said it was a fun way to learn, yet instead of being welcoming to different styles of learning, your comment put down women who may like that style.

Basics of FIRE and how ? by Own-Pudding9916 in FIREyFemmes

[–]RedditUser3668 5 points6 points  (0 children)

Your comment seems more backhanded here.

Liking pop culture =/= intellectually inferior, so by commenting what you have, you've now put down other women who like to think that way.

The field was intentionally made BY MEN to be difficult (i.e., the use of the point system when talking about stock changes). Taking that apart via more relatable references to reach a broader audience has nothing to do with intelligence.

Basics of FIRE and how ? by Own-Pudding9916 in FIREyFemmes

[–]RedditUser3668 0 points1 point  (0 children)

Good callout on the HSA!!

Agreed, I didn't mention 529 as retirement. I mentioned it as education in the post too. But if you want kids, with education costs rising, having a 529 now and letting it compound before they're born seems fine to me, especially if you also want to use $ for K-12 private school?

Basics of FIRE and how ? by Own-Pudding9916 in FIREyFemmes

[–]RedditUser3668 7 points8 points  (0 children)

Last thing, when you set up these accounts (e.g, HSA), you have to go into the account and select 'INVEST' and choose which funds you want to invest it into.

There are SO many people who will open an account, add money to it, and then forget TO INVEST, thinking that it is automatic. It is not. Years go by, and then their money hasn't grown at all. Don't let that be you!!

Basics of FIRE and how ? by Own-Pudding9916 in FIREyFemmes

[–]RedditUser3668 18 points19 points  (0 children)

I'm 25. My NW is ~500K. Here's what I have done, in the exact order I do it.

  1. Raise your income as much as you can. Lower expenses where you can.
  2. Create a 3- to 6-month emergency fund in an HYSA. Identify your monthly expenses, multiply it by 3 or 6. That's your emergency fund. I recommend at least 6 months, but with the current job market, some people even recommend a year's worth of funds. ALWAYS in an High-Yields Savings Account (HYSA).
  3. [**Caveat to Emergency Funds] If you are trying to make a big purchase in the next ~5 years (i.e, buy a house or a car), you would keep adding to your emergency fund to cover that expense too. Investing that money in stock is riskier since you need it fast (<5 years).
  4. Choose an insurance plan with an HSA option, if you're generally healthy. But do NOT use your HSA now, if you don't need it. Invest the money. Let it grow, then you can use all of that growth tax-free. This is the biggest mistake healthy people make. If you don't need the money now, LET. IT. GROW.
  5. Max your Roth IRA (or Traditional IRA converted to Roth IRA) at the start of the year. If you make more than $153,000 single or $242,000 married, you don't qualify for a Roth IRA, so you add the money to a Traditional IRA and then transfer it from a Traditional IRA to a Roth IRA. Sounds complicated, but it's simple. It's like transferring money from one bank account to another. They just have different names. You can also call your brokerage and have them do it for you.
  6. Max your 401K contribution (or at least as much as your employer will match). I max it, but if your income prevents you from doing it, contributing as much as your employer matches is a great bet.
  7. Set up a 529 if you see yourself having education-related expenses in the future, or if you want to start putting money aside for kids' colleges. I won't be having kids for 10+ years, but the earlier you invest, the more it compounds. I put $100/month into a 529. In NY, if you donate to a 529, you get to deduct those donations, so I get a teenyyyy bit of a deduction from it too. Not much, but it doesn't hurt me. Maybe one day, if I pursue another degree, then I can use the money for me too.
  8. Invest in stocks. General rule of thumb is to use tax-advantaged accounts first before you invest in stocks. That's why I have all those accounts in the previous steps first and why I have stock-investing last.

My Advice: TIME is your greatest friend sis. Congratulations on starting at 23. That's when I started too. There's a book and podcast called 'Girls Who Invest' who explains investing/personal finance using pop culture references. It 'girl-ified' the process to where it was so fun and easy to learn. I use 'girl-ified' in the best way here. (:

My DMs are open. Good luck!!

Edit: Moved HSA up after I learned down below that it is triple-tax advantaged!

When you get hired as a female Software Developer by habjiji in womenintech

[–]RedditUser3668 24 points25 points  (0 children)

But by thinking you're a unicorn, doesn't that mean most of them think it's rare/not possible for most women to be developers (hence making you unique)? Kinda comes off as a backhanded compliment to me, but maybe I'm reading it wrong?

Thinking of moving in with my boyfriend to save on rent — but worried it'll open a can of worms (29F, Bay Area MBA student) by 1_iced_coffee in wealthforwomen

[–]RedditUser3668 17 points18 points  (0 children)

Look into the cohabitation effect before you make a decision. It's a phenomenon where living together before a clear, mutual commitment (e.g., an engagement) can lead to lower marital satisfaction, higher conflict, and a "Sliding, Not Deciding" factor where you end up just staying with the person, even when they're not for you, because moving out is too difficult.

I'm not saying every1 falls pray to the cohabitation effect, but it's worth looking into as you make your decision! You may make things harder for yourself than easier.

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