We recently connected with Lyndsey Monahan and have shared our conversation below.

Lyndsey, thanks for joining us, excited to have you contributing your stories and insights. So let’s jump to your mission – what’s the backstory behind how you developed the mission that drives your brand?

Mission Statement: Empowering Women Through Personal Finance.

The story behind the mission statement:

Personal finance and certainly financial literacy were not terms I ever heard growing up. I was raised by a single-mom and
while she did her best to provide for our family, she lived paycheck to paycheck.

The lack of money and anxiety around money were always front and center in our household. Even at a young age, I could sense the feeling was not normal and certainly not healthy. I believe her self-confidence was significantly impacted by her finances which perpetuated the choices she did and did not make. Seeing her struggle inspired me to want to do better, aim higher, and not ever be in a position where anxiety around money would impact my own self-confidence.

Early in my professional career, I was blessed to work with co-workers and mentors who helped me understand the importance of financial literacy and encouraged me to learn as much about personal finance as possible. The conversations and experiences I had in my corporate career, pushed me to start on this journey of continuous learning and development where I earned the designations necessary to help others with personal finance.

A huge part of the reason I founded Women Inspire Wealth has to do with my perception and observations from childhood and my own experiences seeking knowledge and information from those around me. I believe women need and should have better access to education, knowledge, skills, and trusted resources when it comes to personal finance. Melinda Gates said it perfectly in her book The Moment of Lift – “When we invest in women and girls, we are investing in the people who invest in everyone else.”

I believe my mom would have been in a better financial position if she would have had access to someone she felt comfortable talking to about money. She did not have that someone in her life. So, I became that woman – for me, for her, and for the strong women everywhere who should have access to someone they feel comfortable talking to about money.

Lyndsey, before we move on to more of these sorts of questions, can you take some time to bring our readers up to speed on you and what you do?

Absolutely!

I’m the Founder and CEO of Women Inspire Wealth, a boutique financial planning firm empowering women and their families through personal finance. We provide comprehensive financial planning services and financial consulting services for professional women and their families. The women and families who work with us know from the start they are choosing the right team to work because of our core values – Integrity, Relationships, Empowerment, Well-Being, and Community.

I’m most proud of the feedback we receive from our clients and our community. Clients appreciate the way and manner in which concepts and ideas are explained to them using simple, easy to understand and relatable explanations. My personal favorite is hearing how authentic, real, and approachable we are and, as a result, make conversations about personal finance less intimidating and more approachable.

I did not set out to be a Financial Consultant and Wealth Manager, nor did I set out to be the founder of a company or run my own independent Registered Investment Advisory firm. Life transitions have played a huge role in my personal and professional life and because of those life experiences, continuous pursuit of personal development, and my willingness and ability to serve others – I have created a business and life I love.

Are there any books, videos or other content that you feel have meaningfully impacted your thinking?

Yes, a mentor introduced me to two books when I first started on my own personal finance learning journey. He asked me to read two books on personal finance – Rich Dad, Poor Dad by Robert Kiyosaki and Total Money Makeover by Dave Ramsey. The lesson was in the follow-up assignment which was to take the two personal financial philosophies/strategies and determine where between the two opposite sides of the spectrum did my own personal financial preferences fall. This exercise helped me learn more about my own preferences more than any other exercise – including those in my formal education.

How about pivoting – can you share the story of a time you’ve had to pivot?

Life transitions are made up of both challenges and opportunities. My path through my career, business, and life is no different.

The most challenging years of my life have been from 2016-2018 when I had three major life transitions happening at the same time. The most significant life transition was my father having a massive stroke at a young age preventing him from ever working again and becoming completely dependent upon me as his primary care manager.

My business at the time was a traditional brick-and-mortar insurance agency where I led a team of 4 full-time and 2 part-time employees. I knew almost immediately I would not be able to be as present in the business as I had been and would need to be moving forward.

The internal conversations I was having with myself all came back to the same question – what type of a life do I want and will my current business allow me to life that life?

The answer for me was – my current business and the model under which the captive insurance company required me to do business was not going to work for me and the needs of my family moving forward. The decision was not an easy one to make because of the impact on clients; however, once I explained to them the reason for the change – most of them understood and a portion of them were excited to transition with me.

The change from being an insurance agent (who also handled some financial services) to being a financial advisor and ultimately transitioning into financial planning has been incredibly rewarding. I have been able to build a life and a practice which allows ultimate freedom and flexibility with my schedule to meet the needs of my family while also providing a first-class experience for my clients. Ultimately, empowering myself to make the decision to close down one business has helped me empower others to define what an ideal life and wealth really means for them.

Contact Info:

• Website: www.womeninspirewealth.com
• Instagram: https://www.instagram.com/womeninspirewealth/
• Facebook: https://www.facebook.com/womeninspirewealth
• Linkedin: https://www.linkedin.com/in/lyndseymonahan/
• Other: https://www.facebook.com/groups/womeninspiringwealth (private facebook community/group)

Image Credits
Lauren Bethany Photography