Moneda Moves (73): What it means to be a first mover and pioneering in building wealth
We’ve made it, folks…to the end of the first week of 2021. After the riots we saw take place at the heart of the country, surely we could all use a moment pause, take stock and practice self-preservation.
We’re going to kick off this newsletter with a palette cleanser of sorts and link you to this LA Times article on all the ways Latinos were seen big time in 2020. In addition to the community’s symbolic achievements, from Bad Bunny’s growing global popularity to Latinas dominating the Super Bowl stage, Latinos kicked off this year strong by showing up at the polls like never before and presenting a record-shattering turnout for the Senate runoffs in Georgia.
And here’s my perspective: While our country is divided, the growing influence of Latinos in the US offers an opportunity to better understand this group made of so many diverse perspectives, as it grows, drives for change, hungry for more.
One way we’re doing so? By taking interest in acquiring financial security and building wealth, which is what this week’s podcast focuses on, in an interview with Ramona Ortega, founder of the personal finance platform for first movers My Money My Future.
You can read more about the latest episode below. For now, onto this week’s stories.
Con poder,
Lyanne
Headlines to put on your radar.
What the end of an eviction ban would mean for Black and Latino people🏠: With Black and Latino people twice as likely to rent than white people, this sets a concerning outlook. Experts say the displacement caused by evictions would do no favors to contain Covid. An eviction mark on renters’ records would lead to difficulties renting again and further exacerbate the racial homeownership wealth gap already existing.
Though the national eviction moratorium is currently extended through January, it’s unclear what happens next. As of December 2020, 14 million Americans (1 in 5 renters) said they were not caught up with their rent. Meanwhile, only 30% of Latinos reported confidence in being able to make their rent last month. (Politico)
How to support Latino businesses celebrating a second Christmas this year🎁: On January 6, many Latinos celebrated what you might call a second Christmas, or Three Kings Day thus extending the holiday season into January. A thought on this? The time to purchase a rosca or cake for the occasion may have passed, but check out your local businesses this weekend and find out if there’s a way you can support. The organization mentioned in this article, for instance, gathers gifts for children in low-income families. (USA Today)
Boardrooms need diversity, but Latinos are fighting for seats💵: Only 3% of corporate directors are Latinos. Per Bloomberg Businessweek, “boards that remain mostly White—the race of 8 in 10 directors at S&P 500 companies in 2019— and 72% male.” (Bloomberg Businessweek)
Rising voices in business, fintech, entrepreneurship and beyond.
🎧NEW PODCAST EPISODE🎧
Pioneering in Building Wealth & Entrepreneurship | My Money My Future Founder Ramona Ortega: A daughter of farmworkers and the first generation in her family to attend college then build wealth, Ramona is on a mission to help other underserved millennials have a roadmap to wealth.
In 2020, Ortega was named One of the Most Notable Women in Financial Advice by Crain’s New York Business. In the first Moneda Moves episode of the year, we’ll discuss her journey as being the first in her family to secure wealth, to securities attorney, to founding her own company and what growth has looked like.
Once you listen to the episode, if you find you are ready to tackle your own journey to building wealth through investing, Ramona is also hosting a workshop all about it, launching January 15. Check it out here.
And that’s a wrap for this Friday, Until next week, mi gente. Get some rest over the next few days and find us here next week.