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Breadwinning female millionaire moms? Yes please.
Liz of Chief Mom Officer is a millionaire mom of three boys and wife to an amazing stay at home dad. She’s traveled the world for her MBA and has crushed it in her career. We talk to her about how she handled her husband’s layoff and traumatic medical event, expanding her family later than expected (thanks, Gwen for asking), ensuring her career progressed while supporting her family, and financial independence of course.
You’ll love Liz and her story.
We also chat about…
- Questions women get asked versus questions men get asked in interviews
- Breadwinning female millionaires
- Female role models for Gen X vs Gen Y
- How Liz’s financial journey started at 18
- Raising your kids to be resourceful and good with money
- Taking time off of work and maternity leave
She was an absolute delight to speak with! Enjoy this chat with Liz, and please subscribe to us in iTunes if you enjoyed it!
Show notes and links from today’s episode
- Chief Mom Officer – Liz’s blog
- Breadwinning Female Millionaire Mom Series
- Alanna Series
- The Wealthy Barber
- How to Flip Supreme Brand Clothing
- Ep. 32 w/ Justin of Saving Sherpa <- $70/month on food
- The Tightwad Gazette Interview
- Paula Pant Podcast Episode
- Six Figure Dog Mom – J’s feature on Liz’s blog
Key takeaways from our chat with Liz of Chief Mom Officer
1 – Female role models go a long way
J & Gwen grew up as ‘girl power’ millennials. They loved the Spice Girls, read the Alanna series by Tamora Pierce, and participated in take your daughter to work day. Liz didn’t have the same opportunities as a member of Gen X. She did read some working women magazines but she had to go out and find her own role models.
Now, Liz writes the Millionaire Mom Series on her blog to help provide visibility to these amazing working six-figure working women and to provide inspiration to others.
2 – Kids are ready for the money conversation at different times
Liz said she could tell when her individual kids were ready to have more mature money conversations. She does worry whether providing them too much information will limit their resourcefulness as an adult, but it’s a risk she’s willing to take to have financially educated kids.
3 – Your career doesn’t have to hit pause when you have kids
Liz went to China and France as part of her MBA program when her kids were little. She spent a few weeks in both places. Liz also has a blog which is a time-intensive hobby. She has been able to achieve all of the goals she wanted to achieve in her career, except not at the same time.
Liz recommends finding an adaptable employer and always prioritizing your family over work. Your family will be their your entire life.
Kids are adaptable. They don’t have preconceived notions of what a working Mom is. If you decide to be a traveling working mom, then that is what they know and kids are fine with it.
4 – Emergency fund money is mandatory. Period.
A few years ago Liz’s husband got septic shock syndrome and was in a coma. When he came out of a coma, he was worried about money but Liz was able to step in. Her husband had previously taken care of their 3 kids full-time but now that he couldn’t, she was able to pay for activities and their care. Her savings allowed her to focus 100% on helping her husband get better.
Liz knows what it’s like when everything goes to hell and in those times, no one wants to be worrying about money.
This experience turbocharged her savings goals and motivated her to eliminate all of their remaining debt.
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