A Fresh Spin on Finance with Cally Ingebritson
By Ella Murdock Gardner
In the words of Cally Ingebritson of Chillax Finance, the financial industry is overwhelmingly “pale, male, and stale.” This isn’t just a catchy slogan: out of all financial advisors across the US, the average age is 55, 14% are women, and merely 4% are Black, Indigenous, and People of Color (BIPOC). Last Tuesday, Cally joined Stephanie and members of the community to bring a fresh perspective to budgeting and investing.
As an openly bisexual financial coach, Cally strives to carve out a safe space for people who are typically underrepresented in the heteronormative world of finance. Discrimination in the field shows up in surprising ways; as Cally pointed out, target-date funds (funds that grow assets over a particular period) are calculated based on the average life expectancy and career fluctuations of cis men.
Unsurprisingly, most people’s lives do not follow this “standard” trajectory. In this vein, members of the community spent the first part of the event reflecting on their own post-retirement goals and desires. (Many envisioned peaceful walks in nature, tending to their gardens, sharing delicious meals with loved ones, and traveling the world.) When we understand our priorities for the future, we’re able to make more informed budgeting decisions in the present; Cally and Stephanie talked about how to budget for day-to-day life while investing in the best cocktail of stocks and bonds according to your expected lifespan and your tolerance for risk.
Stephanie and Cally also broke down different stages of investing depending on your experience level and the time you’re willing to commit to your portfolio. For Cally, that means contributing automatic payments to target-date funds that she can set and forget. For Stephanie - who prefers choosing individual stocks - that means devoting at least three to five hours a week to researching companies and funds. Both Cally and Stephanie encouraged members to base their investment strategies on their ability to absorb risk, their comfort level (the ‘can-I-sleep-at-night’ measure), and their lifestyles.
Wrapping up the event with a mini Shakira dance party, Cally Ingebritson’s Lounge and Learn with the community was anything but pale, male, or stale.
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Cally is a self-described bilingual, bisexual, bicyclist who is bringing the good vibes back to a financial services industry that is typically "pale, male, and stale"! Learn about Cally on her website and social media.