Wealth & Women: Smart Finance Beyond Social Media

Ever feel like the world of finance is speaking a different language? You're not alone. Many women find themselves hesitant to jump into financial planning, but knowledge is power, and taking control of your financial future is totally achievable.

In this episode of Media Rebel Unplugged, Janice Becker chats with Chelsea Hussey, wealth advisor at Return on Life Wealth Partners and a 2025 Forbes Best-In-State Women Wealth Advisor, about women's financial empowerment. Chelsea shared her journey and unique challenges that she sees women face, and how to build a strong financial future. Get ready to learn how to break free from the norm and gain the confidence to manage your money like a true boss.

Chelsea's Inspiring Journey and the Power of Financial Education

From Denmark to Wealth Management: An Unconventional Path

Chelsea's journey into wealth management wasn't exactly a straight line. After high school, she planned to immerse herself in language studies in Denmark. "I'd love to get back over there. I love languages. I love learning," Chelsea recalls. She even had a family member who offered to sponsor her to attend a community college-like program for international students. The goal? Learn Danish and figure out the next steps.

But fate had other plans. About halfway through the semester, the school unexpectedly closed. Chelsea found herself sharing a one-bedroom apartment in Copenhagen with a group of international students. "It was a wild ride," she laughs.

Then came more news: her dad was sick and her plans to attend NYU in New York were put on hold. Instead, Chelsea chose to be closer to home and attended the University of Akron. She initially planned to major in international business, but as she progressed through her courses, something unexpected happened. "I took an accounting course and then a corporate finance course," she says. "I thought, 'Whoa, this is really interesting. I'm kind of enjoying this puzzle piece and putting everything together.'"

It was during this time that Chelsea realized her passion for finance. Growing up, she didn't have a lot of financial savvy in her family, a common situation for many. With encouragement from her boyfriend (now husband), she landed an internship in financial planning at Northwest Mutual in 2008 – right when the economy was crashing.

Turning Adversity into a Catalyst for Change

The economic crisis, coupled with her father's passing, became a turning point. Her father didn't have a financial advisor to guide him. There was no one to help him navigate financial decisions or plan for the future.

This personal experience fueled Chelsea's desire to help others. She saw a need for trustworthy advisors who could provide guidance and support, and she wanted to be part of the solution. "My drive there is to get into this industry and see it bit by bit, and it sounds corny, but I can help people reverse whatever that generational issue is that's keeping them from accomplishing their financial goals, personal or professional goals," Chelsea explains.

Return on Life Wealth Partners focuses on helping clients achieve their goals with a holistic approach to wealth management.

Breaking Down Barriers: Financial Empowerment for Women

Knowledge is Power: Overcoming Hesitancy

Why do women sometimes hesitate when it comes to taking charge of their finances? Chelsea believes it often comes down to a desire for certainty. Women tend to want to feel fully prepared before making financial decisions. "In general, a barrier I find that as women we have to overcome is we want a little bit more certainty before we do something. We want to feel like I've got this," she says.

It takes courage to jump in, but the more knowledge you have, the more confident you'll feel. As Chelsea puts it, "Knowledge is power."

The Advisor as a Teacher: Understanding the "Why"

Chelsea sees her role as more than just a financial advisor; she's a teacher. She loves explaining the "why" behind financial plans, empowering her clients to understand how things work. "Here's what we're setting up for you. Here's how we're going to help you build this financial plan, but here's the why behind it. Here's a bit of how it works," she explains.

This approach helps clients develop discernment and navigate the constant stream of financial information they encounter. By understanding the fundamentals, they can better assess advice from social media, news outlets, and other sources.

From Products to Relationships: The Core of Financial Planning

Forget the idea of financial planning as just a collection of products. For Chelsea, it's all about relationships. "A financial plan really shouldn't be a collection of products, it really should be a relationship," she emphasizes.

She gets to know her clients on a deep level, understanding their values, culture, and personal history. This allows her to provide truly impactful advice tailored to their unique circumstances.

Navigating the Financial World: Advice and Resources for Women

Knowing Yourself: The First Step to Financial Savvy

Before seeking financial advice, take some time to understand yourself and your goals. What do you want to achieve financially? What does financial success mean to you? The better you know your goals, the easier it will be to create a plan to get there.

Start by figuring out your net worth and understanding its components. What are your assets? What are your liabilities? Once you have a clear picture of your current financial situation, you can start setting realistic goals.

Recommended Resources: Books and Mindset

Chelsea recommends The Millionaire Next Door as a must-read. This book highlights the fact that many financially secure people live modestly and avoid flashy displays of wealth. They focus on building long-term wealth rather than keeping up with trends.

This book is about the mindset that you can live below your means and still build wealth. This helps you avoid comparisons and focus on your own path to financial security. In a world of social media highlight reels, it's easy to get caught up in comparing yourself to others. Remember that what you see online isn't always reality.

Combating "TikTok" Advice: Building a Solid Foundation

Where should women go to educate themselves on how to be financially savvy? Social media can be a mixed bag. While there's plenty of good information out there, there's also a lot of bad advice.

Always do your research and be wary of anything that sounds too good to be true. When in doubt, consult with a qualified financial advisor.

Before you talk to a financial planner, these steps will get you on the right path:

• Know yourself

• Know your goals

• Know your numbers

Finding the Right Fit: Working with a Financial Planner

Overcoming Fear and Stigma: The Importance of Research

Are you nervous about working with a financial planner? It's understandable. Some people worry about high fees or potential conflicts of interest. But don't let fear hold you back.

Do your research and seek personal referrals from friends, family, or colleagues. The initial "discovery meeting" is crucial. This is your opportunity to ask questions, get to know the advisor, and determine if they're a good fit for you.

Questions to Ask: Due Diligence and Credentials

During the discovery meeting, ask about the advisor's credentials, experience, and team. Are they a fiduciary, meaning they're legally obligated to act in your best interest? Understanding their team and their expertise is crucial. Do they have experts in taxes, alternative investments, or estate planning? A multidisciplinary team can provide comprehensive support.

Is a Financial Planner Right for You?

Working with a financial planner isn't for everyone. If you're just starting out, focus on maximizing your employer benefits, such as 401k matching. If you don't have clearly articulated goals, it may be difficult for an advisor to help you.

However, if you're feeling overwhelmed or want to take your financial planning to the next level, an advisor can be a valuable partner. An advisor can help you grow your wealth faster and more efficiently. "I'm going to help you try to get there faster or get this working for you while you're not even thinking about it," Chelsea says.

When is the Right Time to Seek Help?

The right time to seek help depends on your individual circumstances. Sometimes, it's a matter of timing. You might meet with an advisor and realize it's not the right time. That's okay. Build a relationship and stay in touch. Eventually, you may reach a point where it makes sense to move forward.

Evolving Roles: Women in Finance and Decision-Making

The Changing Financial World: More Women in Finance

The financial industry is slowly but surely evolving. While it's still a male-dominated field, more women are entering the profession and making their mark.

One of the benefits of a career in financial planning is the flexibility it offers. This can be especially appealing to women who are balancing work and family.

The Power of Empathy: Reaching All Voices

Chelsea notes that in many families, one spouse tends to dominate financial discussions. She makes a conscious effort to engage both spouses, ensuring that everyone's voice is heard.

This is especially important because women often outlive men and become the primary decision-makers. "Women outlive men," she says. "And now 40% of business owners are female. We're a growing demographic. We're in charge of a lot more."

Historical Context: A Reminder of Progress

It's easy to forget how far women have come in the world of finance. Until the 1970s, women weren't allowed to have their own bank accounts or credit cards. And until the 1980s, they often needed a male cosigner to get a business loan. These historical barriers highlight the progress that has been made and the importance of continuing to empower women financially.

Staying Motivated: Finding Strength in Overwhelming Times

The Power of "Why"

What keeps you going when you're feeling overwhelmed? For Chelsea, it's her kids. "The biggest one is definitely my kids," she says. "You have to think about who's watching you, what they're seeing, and that set right there is the biggest why, for sure."

Inspiration from Others

Chelsea finds inspiration in biographies, learning about how others have overcome challenges and achieved success. She also emphasizes the importance of mentorship and support.

Connect with Chelsea:

Want to connect with Chelsea and learn more about how she can help you achieve your financial goals?

• Email: Chelsea@returnonlifewealth.com

• Phone: 440-740-0130

• Company: Return on Life Wealth Partners

• Website: Return on Life Wealth Partners

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Important Information:
Chelsea Hussey is an Investment Adviser Representative of Planned Financial Services, LLC dba Return on Life Wealth Partners, an SEC-registered investment adviser. The content provided herein is for informational purposes only and does not constitute personalized investment advice or a recommendation. Investment advisory services are only provided to individuals who become clients of the firm pursuant to a written agreement. All investments involve risk, including the possible loss of principal.