Innovating Our Financial Future: Embracing Our Roots While Planning Ahead

As Hispanic Heritage Month wrapped up, I found myself standing on stage at Empower, delivering a keynote titled "Innovating with an Accent." It wasn't just another presentation – it was a celebration of our culture and a deep dive into issues that hit close to home for our community. Front and center? The often-tricky topic of financial planning and how our heritage shapes our approach to it.

The Study That Still Hits Home

Years back, the National Institutes of Health (NIH) dropped a study that, despite its age, still feels uncomfortably relevant. They looked at middle-aged and older low-income Hispanics in Los Angeles and found something that might sound familiar to many of us: a lot of folks weren't thinking about retirement.

Here's what jumped out at me:

• We're big on family and faith. Many were counting on their kids or their beliefs to carry them through their golden years.
• Planning ahead? Not so much. Saving for retirement was barely on the radar for a lot of people.
• "It's in God's hands" was a common refrain when it came to surviving retirement.

Reading this, I couldn't help but think about my own family, my own community. It's a delicate dance, isn't it? Honoring our values while facing the reality of our financial futures.

Striking a Chord

After I stepped off that stage, the conversations I had were eye-opening. People came up to me, eager to share:

"Those photos you showed? That could've been my abuela's kitchen.""I never thought about how relying just on faith or family for retirement might not cut it.""'Innovating with an accent' – man, that hit me. It's like you're saying our background is a superpower, not a setback."

One comment really stuck with me: "You made me rethink what success looks like. It's not just about a fat bank account; it's about the freedom to live life on our own terms."

Rethinking Innovation

When most of us hear "innovation," we picture Silicon Valley, right? Smartphones, AI, all that jazz. But here's the thing – innovation is just as much about fresh perspectives on old problems. For us, it's about reimagining how we approach money and our futures.

So, How Do We Shake Things Up?

1. Break the Taboo: Money talk doesn't have to be off-limits. Let's start having those conversations over dinner, at family gatherings. It might be awkward at first, but it's a game-changer.
2. Get Schooled: There are folks out there – advisors, workshops, even YouTube channels – that get where we're coming from. Let's tap into that knowledge.
3. Tradition Meets Planning: We don't have to ditch our values to be smart about money. It's about finding that sweet spot where our culture and financial savvy meet.
4. Pay It Forward: If we start teaching our kids and nieces and nephews about this stuff now, imagine the impact down the line.

Our Heritage, Our Strength

Our tight-knit families, our faith – these aren't weaknesses. They're our secret weapons. But pairing them with some solid financial know-how? That's where the magic happens.

This whole "innovating with an accent" thing? It's about leveraging our unique experiences to cook up solutions that work for us. It means:

• Owning our diversity and using it to think outside the box.
• Sharing our stories, because that's how we build understanding and make change happen.

Time to Step Up

That NIH study might be old news, but it's still a wake-up call. We've got to take the reins on our financial futures.

So, here's my challenge to you – to all of us:

• Don't leave tomorrow to chance. Or to your kids. Or even to faith alone.
• Share what you know. If you've figured something out, pass it on.
• Let's innovate together, using our heritage as a launchpad for new ideas about success and security.

Wrapping It Up

We've got the power to write our own story. By getting innovative with our finances while staying true to our roots, we're not just securing our own futures – we're paving the way for generations to come.

Remember, being financially savvy isn't about becoming a millionaire. It's about creating a life where we can breathe easy, enjoy our cafecito without worry, and maybe even treat the whole family to dinner without breaking a sweat.

Let's make it happen, familia.