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Lyndsey Monahan's avatarPerson

Lyndsey Monahan

CEO | Financial Consultant at Women Inspire Wealth | SpeakerWomen Inspire Wealth

Frisco, TX

Member Since May 2023

Skills

Financial Planning & Advice
Relationship Management
Wealth Management

About

Financial literacy is not a term I ever heard growing up. While my mom did her best to provide for our family, she lived paycheck to paycheck. Money and anxiety around money were always top of mind and I knew it was not normal. Seeing her struggle inspired me to aim higher. I never wanted to be in a position where I would have to tell my children no because I could not afford it. I graduated from Illinois State University in 2004 with a degree in Accounting/Business Information Systems and immediately began working in the insurance industry for one of the largest insurers in the country. My experiences there led me down the path of completing both the Chartered Financial Consultant (ChFC®) and Chartered Life Underwriter (CLU®) designations from The American College. The entrepreneurial spirit in me grew as I learned more about personal finance and in 2015, I began my agency career in insurance and financial services. Since then, my role has evolved into a financial advisor and wealth manager. After spending 8 years in the industry and seeing women STILL being overlooked or underserved by advisors, I had to help change the narrative. Women should feel empowered by their personal finances. I've always felt my mom would have been in a better financial position if she would have had access to someone she felt comfortable talking to about money. She did not have that someone in her life. So, I became that woman - for me, for her, and for the strong women everywhere who should have access to the knowledge and tools to help them build wealth. Women Inspire Wealth was founded to do just that - empower women through personal finance!

Published content

Looking for the Right Tax Professional for You? Seven Factors to Consider

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The right professional will help you more than just once a year. As April 15 draws closer and closer, the need to file your taxes on time grows even more urgent. While there are self-filing services and software available, many people still look for the personalized guidance and care a tax professional can provide. But are all tax professionals the same? With so many to choose from, narrowing down the perfect planner or adviser for you can be a complex challenge. To help make the search a little easier, the financial experts of Kiplinger Advisor Collective offer their guidance. Below, they outline some of the most important factors you should consider when looking for a tax pro and discuss why making the effort to find the best help now can save you both time and money well into the future.

Six Essential Questions to Ask Yourself Before Making a Major Purchase

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If you want to get ahead with money, it’s important to think before you buy. Making the decision to spend your hard-earned cash should be worthy of more than just a passing thought — especially when it comes to big purchases. And yet, people make impulse purchases every day, whether it’s a cute blouse, the latest smartphone or even a new car. Often driven by instant gratification or the subconscious (or conscious) desire to impress others, these purchases can be damaging to your overall financial health if you’re not in the right place to make them. Learning to take a step back and reflect before making a big purchase is essential to getting ahead financially and not saddling yourself with debt or furthering negative patterns of behavior. But how can you go about changing these behaviors, especially if shopping in this way is something you’ve been doing for a long time? To start, ask yourself the following six questions, as recommended by the financial leaders of Kiplinger Advisor Collective. Below, they explain why these particular questions are so vital to ask before making a major purchase and how they can help you make better buying decisions in the future.

10 Steps for Having Better Money Conversations With Your Spouse

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The way you approach these conversations can set the stage for your whole relationship — for better or worse. Money and finances can be a truly divisive topic, and nowhere is this more true than with romantic partners. With differing spending and saving habits, economic backgrounds, values or beliefs around money, couples may find it difficult to get on the same page when it comes to their finances. In some cases, disagreements around money may even lead couples to break up or divorce. In this way, it’s vital couples have conversations about money early on to set a better foundation for their financial future together. However, ensuring you’re having these conversations the right way — without them turning into arguments — is key to your success. To offer their guidance, 10 financial experts from Kiplinger Advisor Collective each share one piece of advice they’d give to a couple about how to approach money conversations in a better way and work together to accomplish their financial goals.

Financial Experts Weigh In on Six Questions You Might Have About Robo-Advisers

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Could this technology lead you toward financial success? In this current world of artificial intelligence and tech-first solutions, even the financial industry is seeing new advancements in technology. Robo-advisers are just one of those solutions, leveraging financial data and complex algorithms to provide investment suggestions and financial advice — all without a human touch. While this technology is certainly not a recent innovation, increasing interest in convenience, speed and overall ease of use has brought robo-advisers to the forefront of the collective conversation. But is a robo-adviser right for you?  This is just one of the many questions you may have when considering robo-advisers. Here, to offer some clarity, six financial experts from Kiplinger Advisor Collective answer common questions the public may have when it comes to robo-advisers and whether or not they are the right solution for their financial needs.

Seven Common Misconceptions People Have About Buying a Home

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Holding on to these beliefs could be holding you back from realizing your dreams. With high interest rates and even higher housing prices scaring many people away from the  thought of purchasing a home any time soon, strong narratives and beliefs around home buying in general continue to swirl around the cultural conversation. While some believe they’ll never be able to afford a home, others believe it’s the ultimate end goal and indicator of true financial success.  Though every person’s situation is unique, there are some common misconceptions people have about home buying that may be holding them back from realizing their true financial potential. Here, the financial and investment experts of Kiplinger Advisor Collective discuss seven of those misconceptions as well as the real truths behind these common beliefs.

Struggling to Understand Your Employee Benefits Package? Six Ways to Make Sense of It

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Taking a few key steps can help you both better understand and utilize your employee benefits. Employee benefits can be a big draw for job seekers looking for companies that will care for their employees well beyond their paychecks. Whether it’s a good employer match on your 401(k) contributions, employer-covered healthcare or unlimited paid time off, different employees find value in different benefits, but a well-rounded benefits package — often paired with a competitive salary — can help companies attract the best talent in their respective fields. But despite the initial draw of quality benefits, many of these benefits go unused or are improperly utilized. In fact, according to the Bureau of Labor and Statistics, an employee’s benefits make up nearly a third of their total compensation — meaning employees could be missing out on a significant portion of their total pay.  To ensure you’re taking full advantage of your employee benefits, it’s important to first ensure you have a clear grasp on what they entail. Below, the financial experts of Kiplinger Advisor Collective suggest practical steps anyone can take to not only understand their benefits package but also make the most of what their company offers.

Company details

Women Inspire Wealth

Company bio

Financial Planning and Consulting for For Women Who Want to Build Wealth

Industry

Financial Advising & Planning

Area of focus

Wealth Management
Financial Advising & Planning
Tax-Advantaged Investing

Company size

Myself only