Did you know that for every dollar in wealth that men have accumulated—in their retirement accounts, their stock portfolios, in real estate, in the businesses they own—women have just 32 cents? And If you’re a Black woman or Latina, it’s even worse—like pennies on the dollar!
Of course we don’t need the research to tell us what we already know and feel on a daily basis, that women, on average, earn less than men, put their money in savings accounts vs. investing it, and just have less to work with to build wealth. Even talking about our money, investments and salaries can feel taboo. And when it comes to investing in particular, many of us feel overwhelmed, intimidated or excluded in the process. All this to say, if money is indeed power—for many women, this important topic has never felt especially empowering. That is what we are here to change with the OUR MONEY POWER podcast.
And this is why I was especially excited to talk with Tracy Gray, who is a powerful advocate for women standing in their money power. Tracy is an engineer who helped build Space Shuttles for NASA, a practising Buddhist, and now a venture capitalist who is on her way to becoming the first Black woman to raise a hundred-million-dollar fund. She is a leading voice in a wave of women investing in women - and women of color in particular, and she’s got a lot to say about the ways our country, our planet, and the next generation of young women are better off when women step into our money power.
"I have four goddaughters, ages 15 to 32, and they know, I'm always talking to them about money. And I don't think I ever talked to them about sex. I start with money, right. Because if they understand their money, I'm not going to worry about all that other stuff." - Tracy Gray