Chicago Latina Magazine

CHICAGO LATINA CHICAGO LATINA

EMPOWERING WOMEN

Blanca Sepulveda

Building Generational Wealth for Families

Generational Wealth

WHAT YOU NEED TO KNOW

Photo by LDB

EDITORS CORNER

HOLA!!

We welcome summer 2023 with open arms and full excitement, paving through the hot summer nights that will only last about 45 days. As it has it, mother nature will send in the next season. Register to attend Illinois’ Latinx Economic Summit on 7/27 to celebrate the state’s 116K+ Latinxowned businesses & learn about:

Knowing your rights as a business owner

Access to capital Marketing Training & more

Register here: https://bit.ly/44zqInE

In this issue, we celebrate Blanca Sepulveda, Business Leader, Financial Coach & Strategist with Transformation Financial. Blanca is an example of working in one industry and finding her passion in helping Latino families learn about the importance of generational wealth, college savings plans, and how to leverage their money to work for them. Latinos have the money to invest, though they need the education to understand the fundamentals and tools to preserve their financials. It is that time we become educated and teach our children how to save and spend money.

Linda del Bosque, Editor in Chief

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Blanca Sepulveda

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Sepulveda

"ALWAYS UNDERSTAND THAT SETBACKS ARE A PART OF GROWTH AND GAINING EXPERIENCES."

Business Leader, Financial Coach & Strategist

Blanca

Blanca is driven by financial transformation, uplifting individuals and communities towards prosperity that is generational. Blanca’s background is in banking and spent 20 years at the Federal Reserve Bank of Chicago (FRBC)

She took a bold leap of faith and followed her passion; she quit her corporate job at the FRBC to open up her own business, Transformation Financial. She is an awardwinning nationally licensed financial expert, she mentors, trains, and develops other individuals to become entrepreneurs.

Her company helps families from all walks of life create an independent financial future. She is passionate about giving back to the community and partners with many community-based organizations and businesses; to bring financial awareness and implement financial strategies and solutions for families and individuals through workshops and complimentary consultations.

Over the years she has continued to advocate and support community social causes for the betterment of society and legacy building with solutions at the forefront.

Blanca is a woman of faith. She proudly serves as a NAHREP 10 Certified Trainer. Blanca is on the Board of the Fig Factor Foundation, is a contributing author in Today’s Inspired Latina (Vol 5) and Business Divas (Vol 1) She has been a committee member/volunteer of Junior Achievement of Chicago,

Rotary Little Village-Chicago, Recognized as Negocios Now; Who’s Who Chicago’s Suburbs (July 2021) and The Daily Gerald’s Business Ledger; Influential Women in Business (Oct 2020).

Blanca is a certified JMT member of the John Maxwell Team. She loves traveling and spending time with family and is a proud mom of her son, Christian. Quality time and creating memorable moments are the foundational support systems to her life and impacts.

" NO MATTER WHERE WE ARE IN LIFE, THERE IS ALWAYS SOMETHING NEW TO LEARN AND ANOTHER LEVEL TO ACHIEVE."

BIENESTAR

SOME MENTAL HEALTH ISSUES THAT ARE MORE PREVALENT IN WOMEN INCLUDE

Woman Wellness: Tips and Strategies for Maintaining Physical and Mental Health

In a country like India, women ’ s health is not an openly discussed topic In some cases, it might even be considered taboo to talk about menstrual cramps, changes in the breasts, or other health irregularities connected to women This needs to change immediately.

WOMEN’S MENTAL HEALTH

Women’s mental health is a complex and important topic which encompasses a range of issues that affect women ’ s emotional, psychological, and social well-being and is determined by social and biological factors. Some common mental health issues that affect women and the quality of their life and overall health include:

Anxiety

Depression

Eating disorders

Bipolar disorder

Post-traumatic stress disorder

Perinatal mood and anxiety disorder (PMAD), also called postpartum depression, is experienced during pregnancy, after having a new baby, adopting, or experiencing infant loss; Premenstrual dysphoric disorder (PMDD), a severe extension of premenstrual symptoms (PMS), can cause mood swings, irritability, anger; and Menopause-related mood changes.

These changes are caused by hormonal fluctuations, life transitions, and other factors that are unique to women ’ s experiences.

WOMEN’S PHYSICAL HEALTH

Women’s physical health comprises their overall wellbeing in terms of bodily functions, physical abilities, and the absence of illness or diseases. Some key areas of women ’ s health include reproductive health, cardiovascular health, and musculoskeletal health. Reproductive health is particularly important, as it includes menstruation, pregnancy, childbirth, and menopause Regular gynecological check-ups and screenings are vital to maintaining reproductive health Women are at a higher risk of osteoporosis than men, a condition in which bones become weak and brittle Therefore, eating a healthy diet, maintaining weight, exercising daily, and getting adequate rest rest are of utmost importance

COMMON WOMEN’S HEALTH ISSUES

Breast cancer, ovarian cancer, heart diseases, as well as depression and anxiety rank among the top most common health and wellness issues in women On International Women’s Day, it is important to bring these issues to light so that more women are aware of their health risks and can protect themselves accordingly

THE IMPORTANCE OF WOMEN’S WELLNESS

There are several reasons why women ’ s wellness is important, but we will focus on the top three.

High risk of serious illness: All the women ’ s health issues mentioned earlier are serious conditions that could considerably affect the quality of life of women suffering from them Both breast and ovarian cancer are treatable when detected in the early stages. This is why women need to get annual tests to keep track of any changes in their bodies. Irregular bleeding, severe abdominal pain, lumps in the breast, and so on should not be ignored and should be reported to a doctor

The whole family gets affected: Daughters, mothers, and wives form the backbone of the family unit. They are usually the ones who plan the meals, care for the children and elderly, and transform houses into homes. A woman who is mentally or physically unwell finds it very difficult to cope with the expectations that society has of her. If she is already suffering from stress and anxiety, this situation could make it worse and even lead to depression affecting all those around her as well.

WHAT ARE THE BENEFITS OF WOMEN’S WELLNESS?

Improved physical health: Women who prioritize their own well-being are more likely to maintain a healthy weight, have better cardiovascular health, and have stronger muscles and bones. Their improved physical health enables them to fight chronic conditions, such as diabetes, blood pressure, and heart disease

Reduced stress: Women who prioritize their wellness have better stress-management skills and are relaxed in the face of adversity. Reduced stress also improves their mental health, which provides them with a positive outlook on life

Improved mental health: Being physically active also promotes psychological well-being, reducing the risk of anxiety and depression. Practising yoga or meditation can boost productivity and improve the overall quality of life.

Increased self-esteem: Women’s wellness motivates them to become the best version of themselves, making women feel confident in their skin. This can lead to improved self-esteem and an optimistic self-image.

LIDERAZGO EMPRESARIAL

THE 4 A’S LEADERSHIP PLATFORM

As leaders must constantly be Aligned, Accountable, Authentic, and Aware. Further, we must demonstrate and help our teams hold the line when it comes to being Aligned, Accountable, Authentic, and Aware

Characteristic of a Leader

Decisiveness

Trustworthiness

Empowerment of others

Clear communication

Resilience

Flexible

Persuasion & Influencing

Innovation & Creativity. Effective decisiveness.

Characteristic of a Leader

Stay Authentic

Garner Credibility

Have a Bias for Action

Stay Authentic Focus on Relationship Building

Flexible

Become a Mentor

Be Fully Present

Develop Your Leadership

DEON TOLLIVER

A PERSON YOU SHOULD KNOW BLACK BUSINESS HIGHLIGHT

Growing up on the Westside of Chicago, in the Austin community, the oldest of three boys; raised by his grandmother and mother, Deon Tolliver embraced his passion for Basketball at an early age. The women in his life instilled the importance of leadership through their parenting skills and surrounded the family with love, support, understanding, and fruitfulness. Their perseverance thrives through Tolliver today as he continues his commitment to serving the youth by engaging them in sports to provide mentorship off and on the court.

After graduating from De La Salle Institute and attending Morton College, he attended the University of Minnesota at Morris, graduating from Lewis University in Romeoville, IL. Tolliver set records while playing Basketball in college; Team Captain, Athlete of the Year, Leading Scorer, and All-American As he conquered milestones during his college sports career, he looked into the future to see how to make a difference and empower the youth. Tolliver pursued his career as an Athletic Administrator Combining his drive for community and sports he launched DT Sports Group in 2013 with six youth basketball tournaments

Tolliver demonstrates his athletic ability to interface his leadership skills through his passion for unifying youth development. " Youth development programs can lead to greater self-awareness in young individuals," says Tolliver Beyond the G A M E was launched as a nonprofit 501C(3) providing youth sports, education, and mentorship access to close the gap of resources by supporting the disproportionate and disadvantaged youth.

Today, Tolliver provides an inclusive space hosting 160 schools, over 1500 youths and has expanded the program to other inner cities around the Midwest. Tolliver understands sports can have numerous benefits for youth.

These programs provide each student atelete physical activity, which can improve overall health and wellbeing. Youth can also develop critical social skills through sports, such as teamwork, communication, and leadership. Sports can also teach valuable life lessons, such as perseverance, dedication, and sportsmanship.

Deon Tolliver | CEO & Founder

Tolliver adds, "Sports participation can provide a sense of accomplishment and boost self-es opportunities for physical activity, which can improve overall health and well-being Youth can also develop critical social skills through sports, such as teamwork, communication, and leadership. Sports can also teach valuable life lessons, such as perseverance, dedication, and sportsmanship Tolliver adds, "Sports participation can provide a sense of accomplishment and boost self-esteem."teem."

For the past ten years, both organizations have taken pride in ensuring that their events provide all youth athletes with the value of sportsmanship Developing sportsmanship is crucial for student-athletes as it allows them to compete and do so with respect for their opponents and the game itself By embracing sportsmanship, youth athletes can enhance their field or court experiences and serve as role models for others.

RIQUEZA GENERACIONAL

Generational Wealth What You Need to Know

What is generational wealth?

Generational wealth implies financial assets owned by an individual that can potentially be passed from one generation to the next Therefore, tangible assets such as real estate, investments, and stocks can be considered generational wealth

Average Latino households have only 15% to 20% as much net wealth as non-Latino white households, according to the Federal Reserve

So, why is it essential to build generational wealth? Well, the main reason is to ensure the financial well-being of your family and loved ones with assets that, when inherited, can continue to grow as they pass from generation to generation It’s like creating a long-term safety net and preventing families from potential financial stress or problems.

RIQUEZA GENERACIONAL

How to generate your own generational wealth?

Building wealth is not easy, especially for Latinos and migrants who must deal with all the issues and difficulties of starting a life from scratch in a new country With good advice and small steps, it is possible to generate a good financial base that will allow you to create future wealth.

Develop a plan that fits your possibilities

Although the concept of building wealth may seem simple, in practice, it is very different, and planning is a crucial element. Draw up goals based on the current income and calculate the amount of money that can be allocated to this.

Consider purchasing life insurance

While the primary goal of generational wealth is to secure the future of our families, sometimes the unexpected can happen It is important to take precautions to prevent difficult times. Having a Life insurance policy is one way to ensure that families do not face a financial crisis should tragedy strike.

By empower.com

Pros on Building Wealth and Knowledge 5

Want to build generational wealth? Education is key, financial experts say. Money shouldn't be a taboo topic for families of color anymore, they add, so communication is vital, too, says Nerdwallet.com

Build wealth by investing

INVEST IN YOUR CHILD’S EDUCATION

Raising financially independent adults is important if you want to build lasting wealth

You can help your kids create a path to support themselves by teaching them about personal finance. Giving your kids a financial education is one of the most important things you can do to start building generational wealth. It starts with having open conversations about money at home so your kids know they can ask questions

INVEST IN THE STOCK MARKET

You can invest in many assets To better understand your net worth that is, your assets minus your liabilities you may consider signing up for Empower’s free financial tools. Millions of U.S. households use this technology to see all of their financial accounts in one place and analyze their investments, all for free.

Investing in the stock market provides an opportunity to build wealth passively and protect your money from inflation Most people who invest in the stock market with a long-term plan and diversify their portfolios generally increase their assets over time.

The S&P 500, which is an index that tracks the stock of 500 of the largest U.S. companies, has returned 10% on average before inflation2, since 1926 Investing in the stock market can be intimidating at first; that’s why as a beginner, a simple way to get started is through low-cost index funds, which provide longterm growth opportunities at relatively low fees

RIQUEZA GENERACIONAL

INVEST IN REAL ESTATE

Real estate can be a great tool to build wealth. Real estate generally appreciates with time In addition, real estate can provide cash flow opportunities for investors.

It may be hard to see yourself as a real estate investor. But there are less intimidating ways to get started, such as moving out of your home, renting it out, and purchasing another property. That’s a strategy many investors have used to build a real estate portfolio one house at a time

CREATE A BUSINESS TO PASS DOWN

More than 30% of family-owned businesses are estimated to have made it to the second generation 3 So, building a business to pass down to your children is another way to build generational wealth. For anyone interested in passing down their business to their children, it’s a good idea for them to start working in the business at a young age. It can help encourage them to take over the business However, if your children are not interested in running the family business, there’s still the option to create wealth by selling the business.

TAKE ADVANTAGE OF LIFE INSURANCE

Life insurance is a great tool to pass down wealth. It provides a safety net for your family if you were to die unexpectedly If you have children or dependents who rely on your income, their financial situation would be negatively impacted by an eventual passing.

Term life insurance can be an affordable option to ensure that your loved ones would be financially cared for if you were no longer here to provide for them Losing a loved one is difficult in itself; alleviating the stress by making sure that they are financially secure through a life insurance policy will help them focus on grieving Here’s a resource to help you determine how much life insurance is appropriate

How to Pass Down Generational Wealth

A critical step in building generational wealth create an estate plan which will ensure that i event of death or incapacitation, your assets divided according to your wishes

There are several steps that one can take to generational wealth. Here are a few. Build wealth by investing

WRITE A WILL

A will should provide specific instructions on yo in your state is very important to ensure that your will is enforceable. Also, when you have young children, a will helps communicate your wishes regarding their care You can also list your financial assets to make it easier for your family members to locate them. When you don’t have a will, you leave the decision up to the state when it comes to your children, property, and assets

SET UP A TRUST

A trust, commonly referred to as a trust fund, is a legal entity you can use to hold and transfer assets to your beneficiaries. It is another option to consider for parents of minor children. Trusts can be expensive, but they also provide other benefits such as avoiding or reducing estate and gift taxes depending on the size of your estate.

NAME ACCOUNT BENEFICIARIES

To ensure that your assets pass down to the beneficiaries of your choice, it is sometimes as easy as naming specific beneficiaries for each account Naming beneficiaries can save your loved ones a lot of time and energy in the event of your death, especially if they are adults.

Proper estate planning is an essential part of passing down generational wealth. Therefore, it’s important to consult with an estate attorney to ensure that you have a solid estate plan