Adelante Nasdaq! — our Employee Resource Group (ERG) which explores Hispanic, Latino, and Indigenous cultures — is a driving force behind 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 financial industry experience in wealth management, investment banking and personal finance education. Its mission is to break generational financial curses for BIPOC and 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 into the investment space.
My journey into finance and investing was driven by the housing crisis of 2008, where I supported my Salvadoran immigrant parents and family as they navigated the recession.
When I was 11, I was translating overdue notices and speaking in English on their behalf to make sure what they wanted to say was understood. Watching my parents navigate the financial system without any knowledge inspired me to go ahead and learn how money flows in the United States. This led me to earn my bachelor’s and master’s degrees in finance and work in the financial services industry for over seven years.
What are you aiming for with your social content and influence?
My goal is to inspire other First Generation Immigrant and Queer Folk children within my Latinx community. I want to create content that helps my community redefine what wealth is and can be. My goal is to influence my community to be the change they want to see for their family. To be the first to open a bank account, get a credit card, save 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 financial literacy mean to you?
Financial literacy means understanding how your money moves through your life. It may be different for each person, but it’s all about understanding the basics of money. For example, budgeting, saving, paying off debt, building up credit, etc.
Financial literacy has completely changed the way I manage my money and live my life. It allowed me to work on my mindset with money and eliminate the lack I felt of feeling overwhelmed with financial decisions.
I learned that the financial journey is volatile because we cannot control life. So I live in the moment while preparing for tomorrow.
How has financial literacy impacted you throughout your career?
My career now revolves around financial literacy and the movement to provide real, raw, and transparent financial education to marginalized communities.
Educate mi gente to ensure the next generation has more tools to navigate the financial system and create riqueza without fear.
I never thought I would be a personal finance content creator and CEO of a financial coaching firm, but the passion has always been there… to help my community avoid the similar experiences my generation has faced.
Why is it important for the next generation, and especially the Latinx community, to be financially savvy?
According to a census study of population projections, it is projected that by 2045, the United States will be a white minority and the Latinx population will represent 24.6% of the population. Our community will multiply and participate in the financial system. I want the next generation of the Latinx comunidad 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 that you’d like to share with other members of the LatinX community looking for support?
Due to the lack of financial education resources, I have been able to create my own videos and other social media content to help bridge this gap. But surprisingly, I am not alone! Just through TikTok, IG, and Youtube, you can find plenty of personal finance resources.
I also believe that 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.