LIVE with The Famous Dr AL and Jessica Weaver

Host: Dr. Allen Lycka

Guest: Jessica Weaver, CEO of Women's Wealth Boutique, Best-Selling Author

Dr. Allen Lycka welcomes Jessica Weaver, a woman wealth advisor, CEO of Women's Wealth Boutique, best-selling author, and founder of the empowering women's community, #PinkFix. Jessica's books, such as Confessions of a Money Queen and Time to Refine: A Strong Women's Guide to Retiring on Her Own Terms, provide invaluable insight into wealth management for women.

Growing Up in the Financial Industry

• Early Exposure: Jessica shares how she was introduced to the financial world through her father, a financial advisor.
• Career Start: After working summers at her father's office, Jessica earned her securities license during college and became a Certified Financial Planner (CFP).
• The Gender Gap: Jessica highlights the lack of financial education for women and the myth that women are not good at math.

The Need for Women's Wealth Education

• Challenges for Women: Women often face significant gaps in financial literacy. The industry is predominantly male, with only 18% of financial advisors being women.
• Jessica’s Mission: Through her wealth boutique and productions company, she aims to fill the education gap, offering financial tools and information specifically for women.

The Importance of Smart Investment Strategies

• Warren Buffett's Influence: Dr. Lycka shares how Warren Buffett's buy-and-hold strategy has influenced his own investments, with Jessica emphasizing the importance of understanding investment costs and value.
• Compound Interest & Early Investing: Both Jessica and Dr. Lycka discuss the magic of compound interest and the need for early investments to build wealth over time.
• Reallocating Investments: Jessica explains her firm’s strategy of reallocating investments to protect gains during market highs and buy in during market lows.

The Psychology of the Market

• Investor Emotion: Jessica describes how fear and greed drive market fluctuations and investors' often emotional decision-making.
• Dollar-Cost Averaging: She explains the benefits of dollar-cost averaging, a strategy many use unknowingly through contributions to 401(k)s.

Estate Planning and Wealth Preservation

• The Importance of Planning: Jessica stresses the need for effective estate planning, citing that 70% of wealth is lost from one generation to the next without proper planning.
• Tax Changes: The estate tax threshold is expected to decrease significantly by 2025, meaning more people will need to plan carefully to avoid hefty tax bills.

Empowering Women in Wealth Management

• Changing the Industry: Jessica shares how she is leading the charge to bring more women into financial services through books, scholarships, and retreats for female advisors.
• Collaboration over Competition: Jessica’s mission is to foster collaboration among female advisors to elevate each other and the industry as a whole.

A Fantastic Life: Balancing Passion and Personal Life

• Work-Life Balance: Jessica reflects on how she balances her career with her family life, teaching her children the value of passion for work and financial independence.
• Legacy Building: Through #PinkFix, Jessica is creating a legacy by involving her children in her businesses, ensuring that wealth and knowledge are passed on to future generations.

BIO

Jessica Weaver, CFP, CDFA, CFS is a Wealth Advisor, Best Selling Author, and author of the blog: Not Your Father's Advisor. She is the founder of #pinkfix, a powerhouse community of women to grow their career, build wealth, and form lasting relationships. Her #1 bestselling books include, "Confessions of a Money Queen", "Strong Woman Stronger Assets" and "Time to Refine: a strong woman's guide to retiring on her own terms."

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