Feel Rich By Giving Big: 10 Keys to Modern Bosslady Philanthropy

Author: Emily Howe, Corporate Gender Equity Consultant, Portola Advisors

For executive women, lady entrepreneurs, and other women of financial means, living a big life – and feeling rich - is very often linked to giving back.

As the world’s sixth-wealthiest female billionaire and mega-philanthropist Laurene Powell Jobs puts it, “To leave a mark - in a way that you think is important and lasting - that's a life well-lived.”

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In fact, women report, twice as often as men, that giving to charity is one of the most satisfying aspects of having wealth (US Trust, 2013).

To help you give in a way that really makes an impact and brings you joy, here are some facts and inspirations to help you navigate modern giving:

  1. Give your time and mentorship. Pay it forward, like Oprah by inspiring and helping other women. (#womensupportingwomen) Mentor a rising female star in your industry so she can really soar. (Only 54% of women have access to senior leaders who act as mentors (Egon Zehnder, 2017). And/or give your expertise to your fave cause by serving on the board.

  2. Don’t start your own non-profit. Seriously. I know it seems glam, but if your end goal is being helpful to those in need, think again. There are 1.5 million U.S. nonprofits already – in nearly every area. The problem is this: each nonprofit spends a chunk on their own administration. (Think: If 20 hunger-fighting nonprofits merged, they could pay one administrative group instead of 20 – and then the rest of the money could be used to fight hunger directly.) So find a nonprofit already helping your cause and give to them.

  3. Vote with your dollars. These days, there are good and evil choices for just about all of our buying decisions. A great way to do good every day is making the most planet-friendly, worker-friendly, whatever-you-care-about-friendly decisions when doing what you do, from drinking beer (#craftbeer) to shopping (#ethicalshopping #womanownedbusinesses) to vacation planning (#ecofriendlytravel). For more tips, check out our vote with your dollars article.

  4.  Influence the men in your lives to give. On average, women make less money than our male peers (argh!), but we still have a big influence on household spending – from home goods to philanthropy. Making philanthropy a key part of our relationships with our partners is critical, and millennial women are doing it en masse (Fidelity Women and Giving, 2018). So, talk with your significant others, friends and family about making philanthropy moves. Bonus points: Give the big spenders in your life the opportunity to sponsor a table for a charity gala.

  5. Focus on a few. Fifty-five percent of millennial women support a wide variety of causes, which isn’t actually the most effective method. (Due to fees-per-donation and other admin costs, giving $1000 to one organization goes much further than giving $200 to five different ones.) If you have trouble choosing, pick a charity that works on lots of issues, like the Global Fund for Women or the ACLU.

  6. Be strategic, not just spontaneous. Millennial women tend to give spontaneously – as in donating a dollar on-the-spot at the register or giving to a GoFundMe when it flashes across the ‘gram. Keep doing that, but just don’t let those one-off donations make you feel like a good philanthropist who can stop giving. Instead, pick 1-2 organizations you really want to support, save up, and donate big and proud.

  7. Set a target and achieve it in your sleep. Decide how much to give annually and set up a separate bank account with automatic transfers each month. (According to several of the largest charitable foundations, the average giver donates 3-5% of their adjusted gross income.) Not sure which bank account to use? Well, we at Money & Mimosas are HUGE fans of Radius Bank’s Superhero checking  account, which supports March of Dimes’ mission to lead the fight for the health of all moms and babies. Through everyday spending, 1.00% of your total purchases each month will be donated to March of Dimes. Your donation helps advocate for policies that prioritize the health of moms and babies and provide resources and programs for moms before, during and after pregnancy. And as if that isn’t enough, you’ll also earn 0.50% APY2 on balances of $2,500 or more! All interest earned will be matched by Radius and donated to March of Dimes2

  8.  Give like a woman. Women are more likely to give to charity – and to give more - than men in similar financial situations, according to the Women’s Philanthropy Institute (2014). And it’s truer today than ever before: Since the 2016 election, women’s giving to progressive causes has outpaced men’s by six-fold (WPI, 2018). P.S. Let's all keep fighting for those higher salaries so we can give even more! (#equalpayforequalwork).

  9. Donate like a Black philanthropist. African-American households at all income levels give 25% more than their same-income peers of other races. And, more African American households donate - nearly two-thirds compared with 55% of all American households (W.K. Kellogg Foundation, 2011). For inspiration, check out Black Philanthropy Month (it’s August!) (#GetYourGiveOn).

  10. And, consult a lady tax expert. (Actually, any gender will do, but going with a female supports women’s empowerment.) Anywho: the new tax codes make it harder to get tax breaks (unless you’re giving a LOT). Ask your accountant for tips, such as "bunching" a.k.a. saving for a few years and then donating one large sum (to get the tax break). But, BTW: Research shows that most people give because it feels good, not for the tax break (Scharf, 2018), so open your heart and your pocketbook and make it happen, either way.

And just in case you need a little more inspo, here’s a final thought from mega-star and philanthropist, Beyoncé: “We’re all in this together. Each and every one of us can make a difference by giving back.”

For more tips on how to use your money for good, join our weekly insider list.

About Emily Howe: Emily Howe is a senior management consultant with Portola Advisors. She has a MA degree in Gender and Cultural Studies from Simmons College, and has a special focus on helping businesses advance women in leadership and reduce gender bias throughout organizations. For 15+ years, as an expert in change management, Emily has served large international companies, public and private universities, nonprofit and arts organizations, philanthropic groups, government entities, and individuals. Emily is Prosci-certified in change management and is on the board of the Association of Change Management Professionals, Northern California. And, she co-produces an event series called "Taboo Topics in Business.Connect with her on LinkedIN.

This post is sponsored by Radius Bank.

Should you invest in a private jet membership?

Author: Amanda Shaffer

Have you ever dreamed of flying private? We know we do! Even Suze Orman, the famed personal finance advisor for America, spends half a million dollars every year to fly private. For ambitious, boss ladies like yourself with crazy schedules, flying private on the regular is definitely in your future. But, does it make more financial sense to own your plane or go for a membership? We did some digging to find out and this is what we found out!

More executives and entrepreneurs are tapping into private jet membership as it offers more value than owning a private jet individually. Investing in your own aircraft is like handling a business unit and if you are flying less than 300 hours in a year, it’s not a wise investment as mid-size jets were reported to cost annually at $1.2M according to Executive Jet Management.

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Forbes recently reported that the number of jet card providers has doubled in 2018. 35 providers with over 250 programs are now available for executives who want to fly privately. This membership also entails one to a shared jet ownership, so you’ll chip in with other co-owners on the maintenance needed for the jet when flying like charges on de-icing the aircraft when flying in winter. This process has an average hourly cost of around $1000-$4000 depending on the size of the jet, so you can cut down on your usual private jet charter costs.

Jet Card Membership a Worthy Investment

Aside from private jet membership, more jet charter brokers are also encouraging jet card membership. The amount deposited on your jet card account is also withdrawable for most private jet card providers subject to a few terms and conditions, so there’s assurance that your investment won’t go to waste.

Private Jet Membership versus Flying Commercially

If you’re frequent traveler flying commercial on a first-class setting, the average tickets cost about $1,300 and are subject to available flights and other exit fees which in the long run will cost you more than getting yourself an annual membership wherein you’re given access to all premium facilities at a fixed hourly rate.

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Ideal for First Time and Corporate Private Travelers

For entry-level flyers, choosing a jet card is a great way to save on hourly rates every time you fly. It’s also a plus to corporate travelers who want to stick to the budget since the card works as a prepaid account wherein you’ll deposit a set amount which is good for a few flight hours, so they don’t have to swipe for payment and incur extra fees along the way every time they opt to fly privately. Plus, rebates are offered every time you use it, so it lessens the cost of your next travel.

Innovation at Your Fingertips

Investing in a private jet membership is now made easier with private jet applications wherein you can sign in and request a jet and flight schedule within 10 hours. Depending on your choice of program, private jet charter providers will also give all-out access to several jet models.

With different types of travelers owning specific travel preferences, the best part of having a private jet membership is the flexibility you get when it comes to choice of jets, costing, and budget for your next travel. Having one allows you to fly your own terms at calculated costs, so you’re assured that every cent of your hard-earned money will be worth your next business trip. Plus, jet memberships are great sources of global partnerships too. For more information on private jet membership, consult with your trusted jet charter broker or an exclusive charter service provider.

Of course, you want to make sure that you are in a stable financial position before investing in a membership. If you are newer on your financial independence journey, be sure that you have a steady monthly income from your business and you are maximizing all of the ways you can make money. For instance, most folks have a checking account with 0% interest. Which means, they are not making any money on the funds they are essentially loaning to the bank. That’s why we’re a huge fan of Radius Bank’s Hybrid Checking Account. An account that acts like a savings account, in that you earn interest on your balance but it has the additional flexibility that checking accounts offer. Click here to learn more.

Want more money tips? Join our Money & Mimosas Insider List.

This post is sponsored by Radius Bank.

3 Ways to Vote with Your Dollars

There is no force more powerful than a woman determined to rise.” Cheers to our new faces in Congress!!

We 👏🏾 are 👏🏾 on 👏🏾 the 👏🏾 move.

On this Wealth Wednesday lets celebrate the women who made HER-story last night and to us who made a difference with our votes. 

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However, remember that the work is not done. Everyday we VOTE with our DOLLARS.

Voting at the polls is one way to express our views and create the world you wish to live in. On a daily basis, we also have the power to vote with our dollars. How you choose to spend, or not spend, your money has a direct impact on the world around you. Here are three ways you can use your dollars to affect positive change:

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  1. Bank with a bank that actually cares. We have seen time and time again examples of financial institutions that take advantage of their customer base and do little to give back to their community. We have the power to change these practices by intentionally banking with institutions that uphold our values. One of my favorite banks is Radius Bank, which recently launched their Superhero Checking account. Through everyday spending, 1.00% of your total purchases each month will be donated to March of Dimes. Your donation helps advocate for policies that prioritize the health of moms and babies and provide resources and programs for moms before, during and after pregnancy. And if that wasn’t enough, you also earn 0.50% APY on balances of $2,500 or more! All interest earned will be matched by Radius and donated to March of Dimes.

  2. Shop with the environment in mind. Manufacturing clothes is one the top pollutants of our environment. It is estimated that apparel and footwear industries account for 8% of global greenhouse emissions and is steadily increasing. The impacts include water pollution and toxic waste. We all need to wear clothes, so let’s be mindful about where we shop. Companies like Patagonia and Athleta make a conscious effort to use sustainable materials and practices to manufacture their clothes. Or you can host a mimosa party and swap clothes with your trendy girlfriends. Saving money and the environment never looked so good.

  3. Visit the local market. Shopping online is super awesome and convenient and all the things, but doing it all the time does have an impact on your local community. Local grocers, farmers markets and boutiques depend on us to keep them in business. Keeping them in business means that they are able to pay taxes that support local initiatives, create jobs that allow them to hire people within the community and add to the overall well-being of the area. The next time you visit a local shop, instead of price-checking an item to purchase it online, ask the small business owner if they would be willing to match the price for you or create some sort of loyalty program. Shopping local creates stronger communities and benefits you and everyone in the area.

For more tips on how to use your money for good, join our weekly Money & Mimosas insider list.

This post is sponsored by Radius Bank.

5 Side Hustles You Can Do From Bed

One of the most common questions I hear is how can I make a little extra money on the side without putting in too much time?

While we would all like to make more money while we sleep, starting a side hustle does take some effort. But there are a few options that require a little less work than others--- and can be done from the comfort of your bed or kitchen table.

Side Hustles on Money & Mimosas

The best part about these side hustle ideas is that you don’t need a huge investment to get started or need to develop a specific skill. Whether you’re saving up for a fancy trip or just want some extra spending money, it’s always a good idea to learn how to earn money in your spare time.

This is a small list of ideas to help you get started and spark your creative juices. And you can do them all from your bed!

  1. Transcribing podcasts and trainings. I used this service when a company hired me to create a 15-hour training for their accounting team. As a transcriber you earn a percentage of the overall fee. Check out Scribie for more information.

  2. Customer Interviews. A lot of companies use customer interviews to get feedback on new products. Ping Pong is a sweet service that facilitates those interviews remotely.

  3. Renting Out Your Car. In select markets, you can rent out your car on a daily or hourly basis to earn extra cash through companies like Turo. Nick and I used this service during our long weekend trip to Portland and loved it! According to Turo, the average car sits idle 22 hours a day, so their service is a unique opportunity to capitalize on those idle hours!

  4. Virtual Assistant Service. Virtual assistants provide administrative support, remotely. If that sounds like a fun side hustle you can create your own business or join an established VA company such as Freedom Makers (they hire military spouses) or Fancy Hands.

  5. Rewards Points from Credit Cards or Interest on Banking Account. The points from our credit cards have resulted in hundreds of dollars of gift cards and free travels. Also, the interest rates on your bank account balances can start to add up. Check out Radius Bank’s hybrid checking account for an easy way to earn cash on your checking account balance. Most checking accounts offer 0% interest, but Radius Bank actually pays you to store your money with them.

Want more money-making tips? Join the weekly Money & Mimosas newsletter.

This post is sponsored by Radius Bank.

5 Surprising Investments that Justify Being a Shopaholic

Bernard Maybeck. The famed late architect best known for designing the Palace of Fine Arts in the Marina District of San Francisco. The son of a German immigrant, he studied at the Ecole des Beaux Arts in Paris before moving to Berkeley, California. His style was an eclectic blend of Mission style, Gothic revivial and Beaux-Arts classicism.

 Palace of Fine Arts in San Francisco. Designed by architect, Bernard Maybeck.

Palace of Fine Arts in San Francisco. Designed by architect, Bernard Maybeck.

I had the distinct pleasure of being invited to a private lunch to one of the residential homes Maybeck designed in the Oakland Hills, known as the Guy Hyde Chick House. The owner, an art collector affectionately described as a raconteur by the Mercury News, graciously invited me over after we met a party hosted by our mutual tech publicist friend. The design of the home is known as “First Bay Tradition” style, where the structure is designed to merge with the natural surroundings. Perhaps laying the foundation for today’s green movement.

Everything about the home was breathtaking, but what stood out to me the most was the incredible art collection. It was almost as if the rooms decorated the art, not the other way around.

 "Time is fleeting" by Fong Fai. Originally from Hong Kong, he now resides in San Francisco.

"Time is fleeting" by Fong Fai. Originally from Hong Kong, he now resides in San Francisco.

As someone who is new to the art collector’s world, I was in for a treat and some major education about fine art pieces embodying 5,000 years of cultural expression- Chinese. I also learned a little bit about the business of fine art and the opportunities it presents for investors.

Inspired, immediately after lunch, I did some research on luxury items as investments. How is that art can be a place to store and build wealth? Are there other luxury items that can do the same?

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Apparently, yes! So, the next time someone judges you for shopping for the finer things in life. First, tell them that you are making a practical investment and expect to see a decent ROI on your purchase. Then say, bye. Because you don’t need that kind of negativity in your life.

  1. Fine Art. According to the Knight Frank Luxury Investment Index, the fine art category is making a comeback as a passion investment. After a depressed 2016 market, the value of art at auctions has grown by 21 percent with the headliner, Salvator Mundi by Leonardo di Vinci selling for $450 million.

  2. Jewelry. Prices for jewelry grew four percent last year and 138 percent over the last decade. The record price was set by ‘Apollo & Artemis’ diamond earrings, which were sold for $57.4 million. And the record for a diamond? $71 million was the selling price for a rare diamond known as the “Pink Star”.

  3. Fine wines. After being the leader in the passion investment class in 2016, fine wines are going through a slight contraction in pricing. After a 24% price growth in 2016, last year it slipped to 11%.  However, with a double digit growth increase, the category remains a strong contender.

  4. Vintage Cars. Who would have thought that cars could be an investment vehicle. Maybe it’s not a surprise to you, but the amount that these cars sell for is mindblowing to me. Last week, a 1962 Ferrari 250 GTO sold for $48.4 million at RM Sotheby’s annual Monterey collector car sale. The value of the car is expected to increase to $100 million within the next two to three years.

  5. Furniture. Yes, you love for fabulous for home decor is 100% justified. A rare set of four Chinese huanghuali folding chairs sold for over $5 million. Sounds like your interior decorating haul is a retirement plan.

See, your love for shopping is totally a legit investment strategy. With that said, be sure to do it responsibly and have an ample amount of savings to support any unexpected (welcomed or otherwise) needs. I recommend a high-yield savings account because the return is much higher than traditional accounts. Click the link to check out the Radius High-Yield Savings account* - they have one of the highest interest rates.

For more fun money tips, join our weekly Money & Mimosas Insider list.

This post is in partnership with Radius Bank.

5 ideas for investing $5,000

Taking one final glance in the mirror, Rose* hesitantly gave a tiny smile of success.

“Wow,” she whispered quietly to herself. “What a difference a year makes.” Drinking in her reflection, she couldn’t help but to admire what she saw. A woman who stood tall and fully grounded in her skin. Her once long, luscious strawberry blonde locks had been traded in for a chocolate pixie cut. Having shedded twenty-five pounds, thanks to her Cross Fit weight training and diet overhaul, her slender frame was strong yet feminine in her New York and Company creme colored jumpsuit.

Just last year, she thought her world was over. At the ripe old age of 29 (as society would have her think), she was single and depressed. Her fiancee had dumped her. Claiming that he had had a change of heart, only to find out that his fling in Dubai may have had something to do with it. The breakup sent her into an immediate spin of questioning everything in her life. Her job, her friendships, her purpose in life, her relationship with food and not least of all, her relationship with money.

Working full-time as a makeup artist for a department store in Scottsdale, Rose was ready for a change. She was ready to move to the big city of Los Angeles and embark on a career as a freelance makeup artist. But, before she made the move, she wanted to make some big-girl decisions about her money and start investing.

She had about $5,000 that she could play with, but was too scared to invest it. Rose knew the importance of making money work for you (how else was she supposed to be able retire and live in the South France),  but was a tad embarrassed that she didn’t know the first step to take. Nor felt comfortable asking anyone for help.

I had met Rose at a gala on one of my speaking gig trips to Arizona. Rose and I immediately hit it off, easy to do when you’re the only two obnoxiously crowding the bartender to get a refill as soon as your drink is empty.

As luck would have it for a money blogger, Rose and I started chatting about money. Rose confided the hesitation around investing to me along with her recent breakup, the haircut and her plans to move to Los Angeles. The whole mirror scene is a figment of my imagination. Hopefully you don’t mind that I took literary liberty with that, Rose.

After doing some research, here are five ideas that I came up with for Rose (and maybe, you!) to invest $5,000.

Before you get started, ask yourself if you need access to these funds within the next five years. If so, I recommend using an investment vehicle that is liquid. This means that you can easily access the funds with no, or little, penalty fees.

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  1. High-yield savings account: If you’re new to investing, it’s a good idea to begin with a conservative approach. With a high-yield savings account, the $5,000 you put in will be returned you. And then some. I’m a big fan of Radius Bank . It has one of the highest APY rates on the market.

  2. Robo-advisor: Usually working with a personal financial advisor is costly because of the fees we need to pay to compensate a human being for their time and expertise. An alternative is to use a tech platform, until you are ready to hire someone. A couple of options to look into are Ellevest and Moola.

  3. Real estate:  if real-estate is your jam, unfortunately $5,000 won’t get you very far. But, you can check out platforms such as Fundrise, RealtyShares, RealCrowd for non-traditional real estate opportunities.

  4. Personal loans platform: these platforms give you the opportunity to help another individual pay down a loan, cover their IVF costs or grow their small business. Two platforms you can check out are Prosper and Lending Club.

  5. Invest in your small business or your personal development: as Warren Buffet says, the best investment is the one you make in yourself. Consider working 1:1 with a business or life coach, enrolling in a class, or checking out Marie Forleo’s B-School program to boost your marketing skills.

This post is in partnership with Radius Bank.

For more tips on how to lead a financially independent life, sign up for my weekly Money & Mimosas Insider list.

*Name changed to protect identity.

Five steps to Get Financially Fit

You wanna live fancy? Live in a big mansion? Party in France? You betta…

Get financially fit. And there is no getting around it. Unless you were born with a silver spoon in your mouth, if you dream of living the rich and famous lifestyle you will have to learn how to make, manage and grow your money.

And even if you have been raised with access to a lot of resources, becoming savvy with your finances will help you boost your sense of self-worth and give you the confidence you need to achieve all of the dreams you have in life.

Mastering your money is the gateway to personal freedom. Once you have the confidence in your ability to manage your finances and the skills you need to increase your net-worth, a world of possibilities will open to you. It may mean the ability to travel the world, spend quality time with friends, feeling a sense of accomplishment that you can stand on your own two feet.

Whatever success looks like to you, money will play a role within it. Commiting to your financial fitness is demonstrating a commitment to the dreams you have for your life.

Here are the five steps you need to do to get financially fit:

Wealth Wednesday on Money & Mimosas


  1. Get clear on your money story. A lot of our financial habits stem from our upbringing, culture and beliefs about money. Take ten to fifteen minutes and think about your money story. To get you started, you can ask yourself: what did I learn about money from my parents and how I view money today as a adult?

  2. Find a money buddy.  There’s nothing like having an accountability partner to help you stick to the goal you set for yourself, whether it’s fitness or finances. So, the next step to getting financially fit is to find someone to help you stay accountable. This is a person that you can trust, you know has your best interest at heart and is someone that is not afraid to tell you the truth. Check out this post for more tips on how to choose your money buddy.

  3. Weekly date. With your money buddy, schedule a weekly time to chat about money. At Money & Mimosas, we call this your money date. During this time, you want to review your expenses, income and share your goals. And the best part- is when you’re done, we say treat yo’self to a mimosa.

  4. Bank account. Choosing where you store your money is a HUGE step in getting financially fit. Because, this will determine if you make, or lose, money while it’s sitting in a bank account. With inflation, most checking accounts are set up for you to lose money because you don’t earn any interest on the balance. But, with Radius Bank Hybrid Checking Account, you earn money on your money. Cha-ching!

  5. Pick up a side hustle or additional income stream. Having multiple income streams is the best way to ensure that you financially fit and secure. When you rely on one source, you can place yourself in a vulnerable position if it disappears all of sudden. Beyond preventing a financial crisis, a side hustle also offers an opportunity to explore your creative side. For more reasons to pick up a side hustle, check out 14 Reasons Why You Need a Side Hustle, Now.

For more money tips, join our Money & Mimosas Insider List.

This post is in partnership with Radius Bank.