The only time in my career I've lost sleep - wake up 3:30 in the morning, and you know you're not going back to sleep - is when I've been an entrepreneur. Even in the financial crisis.
— Sallie Krawcheck
Albert Einstein is reported to have said compounding is the eighth wonder of the world. Obviously, a dollar invested in your 20s is worth so much more than a dollar invested in your 60s.
We shouldn't think anyone needs a Ph.D. in advanced investing in order to begin to invest.
Women bring some great qualities to work. We bring risk-awareness. We bring a greater focus on relationships. We bring more holistic decision-making than gentlemen do. We bring a more long-term perspective than gentlemen do. We tend to look for meaning and purpose in our jobs to a greater degree than gentlemen do.
The whole icon of a bull that stands for Wall Street - you couldn't come up with an image of a more male environment. Women feel that the brand doesn't speak to them.
Stop hoping for a promotion that's not coming. Instead, start a business at which you want to work.
People just haven't saved enough for retirement. And they're going to outlive their money.
Whatever your income level is, save as much as you can - up to 20 percent, but more if you can - and invest it. Put that into an IRA; put that into a brokerage account.
I never talk about my money! It is interesting how awkward it is to talk about it, even though I talk about it in the abstract every day.
If you are a senior woman in business, you intuitively know two things: If a white man promotes a woman or a person of color, he gets credit for it. If a woman says great things about a woman, you get dinged for it. Research is clear on this.
In the old world of business, there was often just one seat at the leadership table for women, two at best. That meant that only so many women could advance. But in a world where women recognize the power that they own - and where technology can upend the traditional rules of engagement - one woman winning doesn't mean another loses.
To empower women, power must be given to them, presumably by an entity that already has it. And that entity is the patriarchy. This also implies that women must be on the receiving end, waiting - politely - to be empowered. Very Victorian-era courtship, isn't it?
I hated being a junior investment banker. I loved the research business, the wealth management business.
First, pay off your high-interest-rate debt. If you have student loan debt - that's low interest rate; that has a tax benefit - you can leave that out. A mortgage can be an OK one. Credit card debt is poison. That needs to be paid off right away.
If you are going to fire this person or hire that person, do it all in a concentrated period. The Band-Aid gets ripped off, and everybody goes back to work.
Somehow, there is this feeling that women require remedial financial education, and so everything must be dumbed down. The reality is that we all need a lot more education, but guys just go ahead and invest anyway.
I've taken a few public hits in my career, and I never hid the pain of it from my children. Nor did I hide the regrouping and rethinking that occurred after each one. After all, that process allowed me to re-emerge and go on to build a more impactful - and more engaging - career path than the one I had been knocked off of.
