Listen to your parents: be financially savvy

I first started Daughters in Charge after moderating a business roundtable whose members were all young women working in their family’s business. Fast forward five years and we’re still together. In our meeting yesterday I was reminded once again about one of the reasons why I thought these women were special-and still do: they are financially savvy.

The group had invited Mackey McNeill, mother of one of our members, to talk about money. Mackey is the founder of Mackey Advisors, an innovative financial planning firm that specializes in supporting small businesses. Check out their website and you’ll see what I mean: www.mackeyadvisors.com. Mackey is also the author of a recently updated book, The Intersection of Joy and Money: A Workbook for Changing your Relationship with Money.

Mackey’s daughter, Sarah Grace Mohr, works with and for her mother as the Operations and Communications Director at Mackey Advisors. She also lent her design talents to creating a very modern and upbeat and playful office space.

Mackey is a great presenter and teacher, and we were all riveted. But what struck me, in addition to Mackey’s great insights and suggestions, was how the daughters in my group responded to the topic of money. They asked very thoughtful questions, demonstrating their knowledge of everything from home ownership to whether owning land is a good investment. These are women who understand money and how to manage it.

I hope that those of you who are working with your family never underestimate the value of what you learned from listening to your parents talk about their business. Being financially savvy is a true asset, just as a stock or bond or a home or land is-a source of confidence and independence that many women don’t have.

I’m going to read Mackey’s book. I hope you will, too.

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