Riqueza is Our Birthright: The Power of Personal Finance Education in Latinx Communities

¡Adelante Nasdaq! — our employee resource group (ERG) that explores Hispanic, Latinx and indigenous cultures — is a driving force of our Hispanic heritage and Latinx efforts at Nasdaq. In honor of Hispanic Heritage Month, we’re spotlighting influencers to better understand what being Latinx means to them and the role financial literacy plays in their community. Lea Landaverde is a first generation, Queer Latina content creator and wealth coach. She is the founder of The Riqueza Collective and podcast host of Mi Riqueza. Lea has over seven years of experience in the financial industry in wealth management, investment banking and personal finance education. Her mission is to break generational money curses for BIPOC & LGBTQ+ people through raw, real and transparent financial education. Lea is also an activist for immigrants, BIPOC and LGBTQ+ rights and mental health. Please tell us what inspired you to get started in the investing space. My journey to finance and investing was driven by the housing crisis of 2008 where I supported my Salvadoran immigrant parents and family while they navigated the recession. At the young age of 11, I was translating late bill notices and speaking English on their behalf to ensure what they wanted to say was understood. Watching my parents navigate the financial system with no knowledge inspired me to push forward and learn how money moved in the United States. This led me to earn my bachelor’s and master’s degree in Finance and work in the financial services industry for over seven years. What do you aim to achieve with your social content and influence? My goal is to inspire other first-generation, children of immigrants and Queer Folk within my Latinx community. I want to create content that helps my community redefine what wealth is and what it can be. My goal is to influence my community to be the change they want to see for their families. To be the first to open a bank account, obtain a credit card, put away savings and become an investor. Riqueza is our birthright, I want to spread the knowledge of personal finance so my community can regain the power to build generational wealth. What does being financially literate mean to you? Being financially literate means understanding the way your money moves in your life. This can be different for every person, but it’s all about understanding the foundations of money. For example, budgeting, saving, paying off debt, building credit etc. Financial literacy has completely changed the way I move around money and live my life. It has allowed me to work on my mindset with money and removed the scarcity I felt from feeling overwhelmed by financial decisions. I learned that the financial journey is volatile because we cannot control life. Therefore, I live in the moment while preparing for tomorrow. How has financial literacy impacted you throughout the trajectory of your career? My career now revolves around financial literacy and the movement to provide real, raw and transparent financial education to marginalized communities. Educating mi gentle to make sure the next generation has more tools to navigate the financial system and create wealth without fear. I never thought I’d be a personal finance content creator and CEO of a Financial Coaching Practice, but the passion was always there… to help mi comunidad to avoid similar experiences my generation has faced. Why is it important for the next generation, and particularly the Latinx community, to be financially literate? According to a Census study on population projections, it’s expected that by 2045 the US will have a white minority, and the Latinx population will make up 24.6% of the population. Our community will multiply and participate in the financial system. I want the next generation of la comunidad Latinx to be empowered to build their wealth through investing, and with the knowledge of personal finance, which unfortunately remains a privilege in today’s world. Is there a particular positive experience you’ve had with financial literacy resources you’d like to share for others within the LatinX community who are looking for support? Due to the lack of financial education resources, I have been able to create my own videos and other content on social media to help bridge that gap. But amazingly enough, I am not alone! Just through TikTok, IG and Youtube, you can find so many resources on personal finance. I also believe in books are a great resource to help gain education and perspective: My favorite books are: The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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