 Thank you for joining me on Think Tech Hawaii. I am Shayna Park, your host for Money Talks. My guest today is Rianne Ischevez. Welcome back to the show, Rianne. Thank you, Shayna. It's always a pleasure being here. So thank you for having me. It's always fun having you. I'm so looking forward to our conversation we're having today. So March is actually Woman's History Month. And yesterday was Girls' Day, so happy related Girls' Day. I thought it would be a great time for us to talk about women and the important women in our lives who have taught us valuable money lessons. Yes, absolutely. So happy related Girls' Day to you as well. I love March. It's actually very significant. Like you said, it was Girls' Day, right? Yesterday, the 3rd of March every year, which is interesting because it's actually something that not like all... It's not really an official holiday, but because we have such Japanese, a huge Japanese culture and influence in Hawaii, that we celebrate Girls' Day. And then of course, it's Women's History Month. And another reason is because, of course, March is my birthday, so that's why March is awesome. Yes, March is a great, fantastic month. Happy early birthday. So let's get into it. Can you give a quick timeline of Women's History? Yeah, absolutely. So with Women's History, so the reason why we celebrate Women's History Month is because we wanna, of course, acknowledge how far we've come as women. So let's start with going all the way back to just a little over a hundred years where we first are able to vote. So finally in 1920, women had rights to vote. And that's huge because this is really the first step towards gender equality because prior to the 1920, only men could vote, right? So that was a huge deal in 1920. And then of course, in 1960 women entered the workforce. So it's not like women didn't work prior to that, but mainly they were primarily at home, taking care of the family. But because of what happened in World War II, where many of the men were deployed and more women needed to go into the workforce. And now in 1960, that's where we kind of officially see women entering into the workforce, which really helped our economy. And then of course, fast forward, 2013, women were able to serve in combat. And in 2018, we had the most female Congress in the US. That's a big deal because women bring a different perspective when it comes to that only women face, so they bring issues to help shape some of the laws that we have today. And in 2019, we had an all women's face rock, which I thought was really cool. And then 2020 was our very first elected female vice president. So that's just some of the things that happened in the last 100 years. Wow, we've come a very, very long way. It's crazy to think that not too long ago, it really not too long ago, we weren't even working and now we have our very own first female vice president. So how does the timeline affect our financial lives today as women? That's such a great question. I think even though we've made so much progress as women today, there are still, what we call financial facts of life that women have to face. So some good and some that we are still working on. So first one is women are inheriting more money. So 70% of the money that's gonna be transferred over the next several years and over two generations are actually going to be going to women. So that's a huge deal, whether, we say two generations because it's parents and sometimes, you know, from their spouse. And so that's a lot of assets, right? That women will inherit over the next few years. Also 39% of U.S. investable assets are controlled by women and 70 to 80% of consumer spending is also controlled by women. So you can see how that can make a huge impact, right? On the economy. And women today are, we have more women who have degrees, you know, higher education, but unfortunately, even though we are higher, you know, more educated, we're still earning less. I think it's somewhere about 80 cents. You know, for women over men, right? So we're earning slightly less than men even till today, even with all the profits that we've made. And of course that translates into, of course, that puts us at a slight disadvantage of future savings, right? Which also another financial fact that we face as women is we are caregivers, right? Whether that's like childbirth or caring for others or parents, other family members, that can also affect us financially. And so not only are we earning less, but also we're not, we have to take a career pause or work, we can only work part-time or completely stop working because we have to take care of family, which then again brings us to our next point, right? For women in retirement, all of those things can stack against us when it comes to our financial future. And we are also living longer and so we'd actually need more money, right? So because we live longer, we need more money. We will more likely need more healthcare, which again translates into needing more money. We're also more vulnerable to gray divorces and poverty during in widowhood. There's, you know, we see that women are more vulnerable to poverty when that happens. So, you know, some of the things that we wanna talk about as women because good and bad, but we have to, you know, really talk about it so we can be better prepared, knowing that these are just some of the challenges, not all women face, but a lot of us, they face during, you know, throughout our lifetime. Yes. Wow, and it's very interesting that we're having this conversation because when you're discussing all of these different topics, it's something that we see and hear often. But when you're stating all these facts, it's like, oh my goodness, this is gonna happen sometime in my lifetime or someone I know and love and care about, it's gonna happen in their lifetime. And when you think about it over the years, you know, we have come a very long way, but we do take on a huge responsibility in the household as well. And I think it's fantastic that we're transitioning into being more financially responsible and taking on these bigger roles, but also, you know, we're the ones now that, you know, end up becoming the financially responsible, right? We handle all the bills. I can see that a lot for women these days and men, they just go to work or they just hand off all the financial responsibilities to women. So to see everything else that we're gonna have to deal with throughout our life, it may seem like a lot. And I'm hoping that this conversation we have today will better, you know, prepare at least me for the future. So I know it's to come and I can feel a lot more comfortable. But, you know, let's take this time to honor a few women that have made a difference in Hawaii. And, you know, can you please share with us who these women are? Absolutely. I mean, there are so many women that have made a huge impact in Hawaii. So there's just too many of them to list for our, you know, discussion today. But just some of the ones that I really, that I picked out was, you know, I feel like these women have, of course, made a huge impact in Hawaii. And I think a lot of us know who these women are. So the first one I want to, of course, honor is Queen Lilio Kalani, who was actually the only reigning queen of Hawaii. And so I wanna read to you this, what I found here. It says, Queen Lilio Kalani presided over the Hawaiian kingdom during a time with great economic growth. So by 1890, 21 international treaties and more than 80 embassies around the world recognized the Hawaiian Islands. So that's a huge deal. Also, Hawaii and its multi-ethnic society enjoyed universal suffrage in 1840, right? Which means that that's a whole 120 years before the United States. I mean, we just talked about how women, we didn't actually get to vote until 1920, but for, you know, Hawaii, this was already happening in 1840. And then it says here there was universal healthcare and 95% literacy rate during her time, so which was the second highest in the world. So that's pretty significant. So it also says here that she, even though she was not an American woman, she made a significant vote in the framework of American imperialism. So a force to be reckoned with, she protected her country, citizens, and role as sovereign until her passing. So, you know, that's huge, right? That's Queen Emilio Colani. The second woman I would like to honor is of course, Patsy Nink. So she was the first woman of color in the US House of Representatives and the first Asian American women elected to Congress. So another, you know, huge seat here for Patsy Nink and she served actually a total of 12 terms in Congress. So that's pretty significant. So she, yeah, she made a huge difference of course in representing Hawaii. And then the last one I wanted to kind of point out is, so she may not, actually, I know, of course, everyone knows who Patsy Nink is and Queen Emilio Colani, but this other lady, I just found this actually article on USA Today, which they actually, every year, they honor women. They have a USA Today Women of the Year. Okay, so it's a recognition for women across the country who have made a significant impact. And so there is a woman from Maui. Her name is Lisa Pulsett, who was actually recently recognized for her efforts during the Maui fire. And as we know, it was one of the deadliest fires in history and she actually led a group of tourism managers on a daring mission to evacuate 12,000 tourists from the island. And so, you know, so this is very, very recent. She actually, I think they just honored her this year for that award. And so we're proud, of course, of all the other women who have made an impact in Hawaii, but I just figured I'd share a few. The two that, you know, most of us know and love and respect, and then of course, this is a great honor from, you know, Lisa receiving the Women of the Year. Yeah. These are all very influential and incredible women. And I like how you're sharing people from, you know, history, like Queen Lili Okulani in the past, like Patsy Mink, and, you know, some of more recent, like Lisa Pulsett. And the incredible and amazing thing too is that these women are all different races, right? And they have made such a huge impact, not only in Hawaii, but in the world. And going back to, you know, Queen Lili Okulani, I feel like she has tremendously changed the whole trajectory of how Hawaii is with her reign, all right? And she did a lot during her time, and she is continuously honored till this day. She's a very, very social woman in Hawaii. With that being said, you know, Raeanne, who are some special women in your life that taught you valuable money lessons. Yeah, what a great question, Shaina. Thank you for that. Last time I have had so many wonderful women impact my life. And so I'll share a few. So I grew up, of course, with my mom and three other sisters and an auntie who was very influential as far as, you know, my financial life. So I'll start with her. She, from a very early age, one of the things that she had taught me about money was, and this is, it still, you know, has stuck with me till today. But she said, it's when you're making a purchase of anything, you know, always ask yourself, is this something that's going to appreciate in value? Right? Every time I make, like, significant purchases or want to make impulse buying, I always remember her, you know, and she was really one of the first ones to teach me about just, again, not just throwing my money away, but instead investing my money in things that we'll appreciate. So she early on taught me to invest in real estate. So she was one of my major influence, you know, when it comes to finance and investing. And then some of the other financial lessons and impacts that I learned along the way was from my sister. And so I have one sister who married very early on. She, straight from high school, my brother-in-law joined the military and they were married very early on. They had children very early on. And so my sister pretty much was a stay-at-home mom the entire time. And so what that taught me, kind of watching them throughout the years was, number one, how communication about money is so important when it comes to your two marriages, right, couples. And we talked about this last show, right, Shayna, how important it is to communicate about money. And I saw that firsthand actually with my sister and that communication is important. And understanding your role in the household is important because my brother-in-law works with my sister to care of the family, but it didn't mean that their roles were any less because they, again, they both knew what their roles are, but it taught me that, you know, communication and planning or financial planning for this future was important because, of course, you know, technically my sister would have been in a vulnerable place if they didn't share their finances, but because they did and they planned along the way, they were able to set themselves up for the future, even though it was only my brother-in-law working. And then my other sister, she actually, what I learned from her was, financial devastation from divorce, right? So I know these are some of the things that we talked about, you know, when we talked about the financial facts of life and I've seen it firsthand, where, again, women can be very vulnerable when it comes to, you know, divorce. A lot of times they walk away with less assets or nothing at all. And so in my sister's case, they kind of saw that financial devastation. Fortunately though, you know, she was able to graduate as a nurse and, you know, was able to take care of herself, but I think the lesson learned in that is also making sure, kind of learning from my other sister, that you have to still put things in place for yourself and so that when things, you know, like that happen, you'll still be okay financially. Does that make sense? Yes, definitely. Yeah. And of course, there was my younger sister, who's a single mom. I learned from her, you know, the hustle to really do whatever you need to do to be able to provide for yourself and your family. And sometimes, you know, and really, you know, budgeting and saying no, sometimes is really what, so that you can take care of your responsibility. Sometimes it's hard to say no to the things that we want in the gratification, but she really taught me to be disciplined and budget so that, you know, first things first, prioritizing taking care of family and having to say no sometimes. So I, you know, that in itself is a huge financial lesson. And of course lastly, you know, my mom, she taught me was the value of working hard and being generous. And so, you know, working hard has taught me that it doesn't matter your background or, you know, where you come from, your skillset, how much knowledge you have, those are the things that you can work on as long as you're willing to work hard towards those, attaining those things, right? And of course, you know, being generous that the mindset of abundance and really you reap what you sow and you cannot give of what you don't have. So those are the things that she had taught me. So, yeah, I was very privileged to grow up with very strong women in my family. And, you know, of course, the countless other women who have impacted me throughout the years, but what about you, Sheena? I'm sure that you had, you know, many influential women in your life, especially coming from having a very strong mom. What are some of the things or, you know, you learned from the important women in your life? Yeah, well, you know, Ran, I feel very, very lucky to know every single person that you're talking about. And I have to say you do come from a very, very strong family, but a bunch of strong women, too. And to start off, yes, I feel like my mom is the most influential person in my life. However, the second person is also you. And when I, you know, was thinking about this earlier, really the only two people are you and my mom. And, you know, my mom, I've learned so much from her in terms of, you know, hardships while also persevering through everything and really taking control of your situation where you don't have to, you know, stay somewhere because of life and, you know, hardships. You can definitely put yourself in a better financial situation. And, you know, growing up, I feel like we, I had a very great childhood. We were pretty well off, I would say. However, with the lack of financial education, I could see how that, you know, was really devastating for my family. And, you know, we lost a lot. We lost a lot. And, you know, after my parents had divorce and through those financial hardships, I realized that it's taking responsibility and accountability and the power of education and just you don't know what you don't know. So I'm very grateful for my mom teaching me about the power taking control of life and my own financial situation. And I think one valuable lesson she taught me is, you know, the decision I made today will reflect, you know, 10, 15 years from now. And it's important that I'm very cautious about every decision I do make financially or big purchases or small purchases because it'll lead me into where I want to go. And, you know, with you as well, I feel like you have taught me so much about money. My mom, she's, I wouldn't say she's old, she's very young, but we're much closer in age too. I feel like you can relate to my Gen Z mind and you give me really fruitful advice and you know how to talk me down when I'm in, you know, financial situations where I just don't know what to do. And I think my point here is that every day or throughout each season of my life, there's something that needs to be taught and learned, right? And I feel like you too continuously teach me so many important lessons, whether I like it or not, tough love or sweet love, I feel like I get a lot of value out of you too. So basically you and my mom, you're basically my other mom. You're welcome. You know, with that being said, I feel like being women, you know, the future is women right now. And I feel so much liberty into being able to learn about money and be able to make my own money. And when you just shared about history earlier as well, you don't realize how far we've come and how different our lives could possibly be if we were still living in a time where we're not able to work or we are only, you know, limited to just caring for the household. But now I feel very fortunate that that has stretched. You know, we see in our times that we live in now that the men are cooking or staying at home and the women are out at work. And I just think that's so beautiful to see. You know, it doesn't have to be so traditional and gender roles, right, of what we can and cannot do. So I know for myself, you know, I don't cook at all and I love what I do for my career. And, you know, I'm out there hustling but transitioning into, you know, the new season of my life, I will be staying at home with baby and I'm really grateful that, you know, the roles can be reversed with my husband. And I know for you as well, right? You're your husband, he provides a lot in the household. Yeah, I can't complain. I love my husband, he does, he definitely does a lot. And so, you know, and I love what you said about that because they really, I think a lot of times like, you know especially in the past, we were identified as certain roles just based on our gender. But I think that that's, you know, like you said, we're seeing a huge shift in that today. And because it really doesn't matter, it's really just about equality and what works for the household, right? But I think each gender plays an important role and it's important to recognize what that role is. So, yeah. Yeah, and going based off of our conversation we had last week about money and marriage and this week about women as well, my biggest takeaways is communication. And when you shared about your personal stories with, you know, your sisters and your auntie and your mom, a big one was communicating and learning and just understanding, yeah, the roles that we have in our life and being able to adjust and switch what needed to be, right? Don't be so focused on one thing and you have to do it this way. So, you know, I really feel like times are changing and women are becoming more influential in this world. And we're playing a lot more significant roles and it's important that we recognize that, right? Like I said earlier, the future is female. Yes, absolutely. And what a perfect time to honor all these women during Women's History Month. So, thank you, Shayna. Of course, always a privilege to be on this show and I just, you know, actually love advocating for women, empowering women, especially when it comes to business and finances. And so, the more we have conversations about these things, I think it's really, I feel that it gives permission to other women to openly talk about these things, to other women and of course their spouses and people of influence in their lives. So, you know, really that's the goal, right? To have open conversations so that we can, you know, communicate, right, about these things that are important and plan for a better future. Yes, yes. And, you know, thank you again, Rayanne, so much for being on the show and for giving insight on powerful women in history and in your personal life as well. And it's great that we have this entire month to honor women, wealth, and the history of women. So, I hope to see you all at the next episode of Money Talks. I'm Shayna Park, a Gen C inspiring lives of the ladies. Thank you.