This week, Melissa Joy is joined by guest Valerie Rivera, CFP to discuss first generation wealth. Valerie founder and owner of FirstGen Wealth, a virtual fee-only practice serving early to mid-career professionals who are the first gen to build wealth in their family. She is part of the 1.5% of Latinas who holds the CFP designation and has been in financial planning for nearly 15 years. She is born and raised in Chicago where she resides with her husband and a feisty 3-year-old. You can find Valerie on LinkedIn or Twitter (@1GenWealth).
In this episode, we discuss:
- What defines first generation wealth? Valerie defines first generation as people who have crossed a threshold not previously achieved by family including college graduation, professional success, or the success of immigrant families.
- What are shared characteristics of first generation families and individuals.
- Financial planning strategies that are important for first generation clients.
Additional resources include:
- A study was recently published highlighting analysis of the economic impact of immigration and the reasons for immigrant success for future generations.
- Article on first generation Americans supporting families and building financial success.
- 52 Pearls Epidode: Financial Wellness Through Community Work with Diana Yanez
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Melissa Joy, CFP®, CDFA® is President and Wealth Advisor at Pearl Planning. Reach out for a call today at 734.274.6744.