Tools to shift your negative beliefs around money and plan for a more prosperous future.
It’s astonishing that the gender pay gap is still over 15% in the UK and 18% in the USA. But what is really scandalous is that the gender pension gap in 2018 was 40.3%. That gap is partly due to the decisions women make related to their fertility such as taking maternity leave, and working part time to deal with childcare or menopause symptoms. 25% of women consider quitting their jobs at menopause, leaving behind well-paid careers and pension plans.
Ellen Kocher is an Economist and Certified Workplace Wellness Consultant. Following 10 years in the Finance Industry, Ellen understands the challenges of a busy working lifestyle. In her book, ‘Wake-Up, Shake-Up, Thrive!’, she guides readers through the five dimensions of well-being which includes the Financial Dimension. She explores your material needs and wants and how to become financially literate.
Pat starts her show by mentioning that she and her guest for this week will talk about money. She says that what is more important about money is planning for it. Pat comments that her guest will talk about financial dimensions. Before starting the interview with her guest, Pat mentions what happened during this week not only she talks about bad news but also about good ones.
Pat talks about changes on women's bodies and the physical and mental problems during their fertility period and the consequences that the pandemic has made in the women's professional aspect. She introduces Ellen Kocher who is an Economist and Certified Workplace Wellness Consultant with an experience of 10 years in the Finance Industry. Later on, Pat shows the result of the matter about the inequality percentages in gender pay gap and invites Ellen to join the zoom room to talk about the financial aspect after the break and Ellen exposes the evidence that unfortunately most of the data are revealing the gap related to women.
After the break, Pat says that Finance is something that definitely empowers women and talks about the extensive education and experience that Ellen has acquired in this field.
Ellen talks about her deep education to get the Degree in Economics and her experience in Management Consultancy for 9 years actually after that. Pat asks her "why do you work in this area"? and why did she decide to change her job position later?; Ellen explains that it happened when she was pregnant and because of her maternity. After watching herself in the mirror she felt that she wasn't the same person that she was before and precisely at that moment it began her journey and that she changed because before she was very busy traveling a lot.
Pat concludes that then that's why she started to research and train.. Why did you decide to stay in this field? Ellen answers that she got the languages to manage the situation and that she was a great example of how with 25 kilos more she had to take into account wellness and was successful because she got many Multinational Organizations. At that time many people told her that she was great!
Pat states that this fact is very interesting because sometimes we don't realize who we are and says her own experience because she has been working over 30 years and people did the same with her! Ellen adds that sometimes it happens that when you see yourself you ask you if it is really true what I'm saying to myself!
Pat tells her that she loves reading what Ellen has written in her book "Wake-Up, Shake-Up, Thrive" and she explains the meaning of this title and exposes that at the end we have to ask ourselves; are you really happy? And surprisingly, the country with the best results on this question is Switzerland, in which people live longer.
Both make fun and say "Maybe it depends on chocolate!"
Pat talks about Planning for Pensions and asks Ellen about it. Ellen says that people can get information from her book and that it is not just to talk about money. She wonders how often we talk about it with our siblings and she refers to a British girlfriend that was proud of getting her first million and when she said her dad, he answered "you should shake off yourself"!
Pat evidences the big problem of women who leave their jobs because of the menopause and explains that this is the reason of a 40% of gap in the U.S.Ellen recommends that instead of leaving they should look forward and that most women should change their minds.
Pat tells about her own experience and says that she looked for a Financial Consultant 13 years ago and the result was great! and adds that people should realize the effect of their decisions and she adds that rich people sometimes are not very nice.. Ellen comments that 60% of the population over 55 asks how long I will live, how much money I will have, what about Medical Insurance...And that the U.S. is the opposite of Switzerland (where there are 4 languages) Swiss people are very good savers. Ellen recommends three things; Saving! but don't stay in the dark, identify what we want to be and ask ourselves what do I need to get that. She states that women are really good at making and planning this.
In this last segment, Pat talks about all that concerns to menopause and says that all decissions have a big and direct effect on our Financial Planning. She recommends, to link with the Swiss clue, that if we have enough money we have to eat good food and things that support our health, our bodies and our emotions. A good attitude is better than to have a lot of money.
Ëllen wants to give advice; first of all ask ourselves what we want to leave behind us and about millionaires she reveals that from 100.000 a 90% believed that they were going to be and that people have to be open to waste money for health for instance but do not be afraid of risk.
Pat tells about the fact when Commercials and Banks want to sell you a product and we have to be careful. Ellen answers, of course! In case of important decisions sometimes we have to go back. Pat exclaims "excellent", now we know that we have to consult professionals. Ellen recommends her Website in the U.K. because it is really good related with Financial Relationships and exclaims "Mind the gap!" and believes that everybody can get the skills to enjoy even during the risky moments the clue is to talk and have conversations. These ones are the best for everything!
Pat thanks her for the meeting and advises on her own that it doesn't depend on our age. Ellen finishes telling us her last message: We need to act, as soon as possible but slowly if necessary. Pat finishes with: Have a brilliant week! See you next week and take care!
00:00:55.680 --> 00:01:07.890 Pat Duckworth: Welcome to the hot women rock radio show empowering women leaders at menopause good morning America good afternoon UK good evening if you're in India and beyond, and.
00:01:08.730 --> 00:01:21.360 Pat Duckworth: The last week of February, what happened to February seems to have flown past and will soon be into March, but that means that spring is on its way, so I thought i'd be a bit springy today wearing a springy jumper.
00:01:22.140 --> 00:01:30.870 Pat Duckworth: So let's we're going to be talking about money, today, and sometimes money can have a lot of fear associated with it, or it can have a lot of excitement.
00:01:31.740 --> 00:01:43.830 Pat Duckworth: what's really important about money is planning for planning to have enough when you want it or need it so my guest today is going to be talking about our finances and financial literacy.
00:01:45.180 --> 00:01:54.180 Pat Duckworth: But before we get there let's have a look at what's been in the press this week about men nepal's usual lots of celebrities going through menopause bless them.
00:01:55.140 --> 00:02:03.630 Pat Duckworth: In the mirror, this is a strange story about a woman it's the headline is tiny cut lead mums shop.
00:02:04.200 --> 00:02:11.940 Pat Duckworth: A mum who discovered she had cancer after she cut her hand while serving a roast dinners that she had attributed the symptoms and medicals.
00:02:12.660 --> 00:02:24.450 Pat Duckworth: Jennifer for 54 we don't know how cheers from Wembley London brushed aside several months of feeling back pain and hot sweats believing her body was simply transitioning to a new stage of life.
00:02:24.870 --> 00:02:36.900 Pat Duckworth: The former teacher so she now owns her life to a random accident which led her to discover that she actually had kidney cancer, the carpet she happened in the kitchen more she was making dinner.
00:02:37.380 --> 00:02:48.810 Pat Duckworth: did not immediately need medical attention, however, she went to her walk in GP later that day to get it bandage properly A week later Jennifer notice discoloration on the top of her palm.
00:02:49.380 --> 00:03:03.960 Pat Duckworth: Beneath the cut finger about the size of a 50 pence piece I can't think what size of currency that would be in the US i'm not sure if you've got a coin that's a 50 pips face but it's quite a big point anyway.
00:03:05.760 --> 00:03:16.230 Pat Duckworth: Moving on i've got caught up now and 50 pence face her GP referred her to a local hospital but Jennifer claims consultants were at first dismissive of her worries.
00:03:16.620 --> 00:03:23.940 Pat Duckworth: But the concerned mum push doctors for an ultrasound and CT scan and after check up at her local hospital.
00:03:24.240 --> 00:03:36.450 Pat Duckworth: She was given the worst news of her life, a CT scan had found an enlarged mass on her left kidney four months later, in April 2018 and ultrasound confirm Jennifer had state street kidney cancer.
00:03:36.900 --> 00:03:51.120 Pat Duckworth: In 2022 now her condition is stable and she's receiving or or immunotherapy and talented treatments about her cancer Why am I talking about that, on this show, because the sentence have been a pause are complicated.
00:03:51.840 --> 00:03:57.720 Pat Duckworth: When you go to your doctor and you've got a range of symptoms and you're in a certain age range.
00:03:58.290 --> 00:04:04.350 Pat Duckworth: They might either think you're too young for many apples are misdiagnosed with something else, or they think you're.
00:04:04.830 --> 00:04:14.400 Pat Duckworth: it's been a pause and it's something else completely so you know your own body, and you have to trust yourself in thinking this is sound right.
00:04:15.240 --> 00:04:32.040 Pat Duckworth: It is something else going on here should I get this checked out, and you know if you're having excessive bleeding or you know if there's other changes going on with your body that you just don't recognize go get it checked out because you can't be sure it's something benign.
00:04:33.600 --> 00:04:39.960 Pat Duckworth: And so, something simple like that just getting a car can be the thing that actually helps you to get the right diagnosis.
00:04:41.580 --> 00:04:53.970 Pat Duckworth: Moving on another serious story intergenerational violence exposure effects the age of menopause this was reported in a number of news outlets by took this one from news medical life sciences.
00:04:54.780 --> 00:05:03.330 Pat Duckworth: Research on women's violence exposure is timely as a public pandemic has elevated rates so intimate partner, violence and child abuse.
00:05:03.840 --> 00:05:16.050 Pat Duckworth: A new study shows that a woman's collective violence exposure consisting of her own abuse and that her child speeds up reproductive aging to result in an earlier age of menopause.
00:05:16.500 --> 00:05:24.810 Pat Duckworth: Study results are published online today in menopause the journal of the North American medical society and, as you can find them online.
00:05:25.560 --> 00:05:31.980 Pat Duckworth: Violence exposure has previously been shown to be associated with an array of mental and physical, mental health problems.
00:05:32.340 --> 00:05:37.290 Pat Duckworth: newer research is additionally revealing his connection with the pace of reproductive ag.
00:05:37.710 --> 00:05:46.230 Pat Duckworth: Earlier menopause particularly before age 45 is associated with increased risk of heart disease osteoporosis and premature death.
00:05:46.800 --> 00:05:53.520 Pat Duckworth: associations between violence and accelerated reproductive aging in the early in later life cause of women.
00:05:53.970 --> 00:06:00.930 Pat Duckworth: I believe, to work through the disruption of the hipness fit no foul make pituitary adrenal axis.
00:06:01.170 --> 00:06:11.400 Pat Duckworth: And the body's response to stress previous studies how am I have been limited focusing on the effect of a woman's phone abuse, in other words, not to the whole of her family and.
00:06:11.820 --> 00:06:22.230 Pat Duckworth: The whole issue of domestic violence has been talked about quite a bit here this week in the UK, so I was really interested to see this study and it also ties in with that conversation.
00:06:22.590 --> 00:06:32.130 Pat Duckworth: That I had with Dr tlc only three weeks ago, where we talked about the effect of racism on menopause and aging as well that.
00:06:32.430 --> 00:06:42.660 Pat Duckworth: People who every day are dealing with racism are experiencing more stress in their bodies and the more stress you're experiencing the more effects the other organs of your body.
00:06:42.990 --> 00:06:50.250 Pat Duckworth: So dealing with stress is absolutely huge, but this is really interesting and how it relates to domestic violence.
00:06:51.450 --> 00:06:59.280 Pat Duckworth: Okay, moving on to better news post impartial, which I think is probably the magazine of the Royal Mail here in the UK.
00:06:59.760 --> 00:07:08.190 Pat Duckworth: The Royal Mail has announced it has reviewed and enhanced it's multiple support for its employees with its let's talk better paul's campaign.
00:07:08.640 --> 00:07:16.260 Pat Duckworth: it's really good to see these big organizations coming in behind them in apple's conversation and making practical changes for employees.
00:07:17.010 --> 00:07:20.340 Pat Duckworth: In a statement issued on Thursday the seventh of February.
00:07:21.300 --> 00:07:31.590 Pat Duckworth: Royal Mail said that the campaign aims to get the conversation going about multiple symptoms raise awareness and make a difference to Royal Mail employees affected by menopause.
00:07:32.190 --> 00:07:40.470 Pat Duckworth: Royal Mail has also created a new let's talk menopause internal group to enable anyone affected by menopause to net we work with each other.
00:07:40.950 --> 00:07:50.400 Pat Duckworth: Royal Mail currently has 16,500 women employees who are likely to be experiencing menopausal or met perimenopausal symptom.
00:07:51.000 --> 00:08:03.600 Pat Duckworth: So if you're helping 16 men off, there are some women you're also helping their partners, their families, their colleagues it just makes so much business sense to be addressing this issue.
00:08:04.140 --> 00:08:09.630 Pat Duckworth: Along with lots of other really good reasons i'm going to come on to another really good reason now.
00:08:10.800 --> 00:08:16.560 Pat Duckworth: So this was reported in the metro here in the UK, but in lots of other news outlets as well.
00:08:17.700 --> 00:08:25.380 Pat Duckworth: I mentioned a few weeks ago, the case of a woman who case of into employment tribunal to court.
00:08:26.430 --> 00:08:40.320 Pat Duckworth: Because of agent sex discrimination she'd experienced around men a pause in the small business that she works with it was a husband and wife business that was creating don't food, and it was complicated by the fact.
00:08:40.740 --> 00:08:49.920 Pat Duckworth: that she was a whistle blah around what the company was doing them covert restrictions as well, so it's a little bit complicated but multiples was an issue.
00:08:50.370 --> 00:08:55.980 Pat Duckworth: And I think we will hear why so a middle aged woman we've got no but she's been late.
00:08:56.730 --> 00:09:07.740 Pat Duckworth: has won an agent sex discrimination case after her mailbox shouted at her that she must be in hand metaphors he shared it back from his office across the room so everybody could hear.
00:09:08.280 --> 00:09:18.360 Pat Duckworth: The incident happened to Essex base pet food store and bought embark on raw where the best, who was 52 at the time had been working as a sales assistant for a year.
00:09:18.870 --> 00:09:30.660 Pat Duckworth: owner David fletcher shouted inappropriate and derogatory remark at the top of his voice during a relatively small argument over an order mixer even though he's employee had made it clear.
00:09:31.080 --> 00:09:44.700 Pat Duckworth: that she didn't want to discuss multiples However, the Tribunal rolled she had actually been sacked for raising her covert 19 concerns and then victimized for complaining about Mr fletcher's behavior the Tribunal.
00:09:45.390 --> 00:09:58.410 Pat Duckworth: headed by Judge bernice l got roared Mr fletcher invaded the clients, the claimants privacy breach the highly sensitive topic for her and active tactless Lee in directly asking her as an employee.
00:09:58.740 --> 00:10:08.310 Pat Duckworth: Having the protective characteristic of sex as a woman, whether she was menopausal he asked the question, even after she'd made it clear, she did not wish to participate.
00:10:08.970 --> 00:10:20.730 Pat Duckworth: In the discussion we are satisfied that part of the reason for the company's decision to dismiss Mrs best is that she made a significant allegation of sexism ageism against Mr David fletcher.
00:10:21.270 --> 00:10:36.420 Pat Duckworth: The Tribunal ordered embark on raw to pay, Mrs best 20,057 pounds and 74 pence in compensation now that's not a huge amount, although I imagine it's pretty significant for a small company at this time.
00:10:36.900 --> 00:10:45.720 Pat Duckworth: But the thing to know is that there is no cap on how much compensation could be paid, so this woman had been working there for a year, I.
00:10:46.590 --> 00:10:53.640 Pat Duckworth: don't think it's very highly paid job that she was doing but let's imagine that you're a woman who's been working for the same company.
00:10:53.880 --> 00:11:07.230 Pat Duckworth: 2030 years and you're in a leadership position and a manager makes that kind of remark, or has some other behavior that's i'm acceptable, there is no cap on the amount of compensation let's be claimed.
00:11:07.980 --> 00:11:18.510 Pat Duckworth: I prefer to stick to why it's a positive thing to support women but employers have to know the risks of not supporting women as well, because this is an important issue.
00:11:18.870 --> 00:11:25.740 Pat Duckworth: And at the moment, under the Equality Act menopause is not what's known as a protective characteristic.
00:11:26.160 --> 00:11:37.260 Pat Duckworth: which would mean that any kind of discrimination around it would definitely see you in tribunal, but if you can show that what's happened is related to your age and your agenda which menopause is.
00:11:38.250 --> 00:11:48.270 Pat Duckworth: you've got a pretty good case going on there, so really important to know that so i'm just gonna have a quick chat with Ellen before we go to the break Helen how you doing today.
00:11:49.590 --> 00:11:53.040 Ellen Kocher: i'm very well, thank you so much pad happy to be here.
00:11:53.490 --> 00:11:58.080 Pat Duckworth: you're able to see you, and I think you've been doing your own research, what have you found in the press.
00:11:59.460 --> 00:12:09.750 Ellen Kocher: I certainly have well, I found actually two very interesting things in the press, one of the things that I found in the press that I found super interesting very much related to the stress factor you just spoke about.
00:12:10.110 --> 00:12:17.340 Ellen Kocher: came out in The Times on Sunday the 19th an article that said the 50 something burnout are you on the brink.
00:12:17.760 --> 00:12:30.750 Ellen Kocher: get this path, nearly a quarter of a million britain's aged between 50 and 65 have left paid work, all together, and are not actively seeking new jobs.
00:12:31.140 --> 00:12:46.260 Ellen Kocher: This was last week, and this is sort of coke and related so we know that identity with purpose etc so again, I think we can tie this into our conversation about finance stress planning everything we're going to talk about later yeah.
00:12:46.320 --> 00:12:55.050 Pat Duckworth: I yeah it's really interesting because we hear this statistic coaches, a lot that 25% of women at medicals consider leaving their jobs.
00:12:55.500 --> 00:13:04.080 Pat Duckworth: Now we don't know how many actually leave, but I think it's significant because I often talk to women who say I you know.
00:13:04.530 --> 00:13:11.580 Pat Duckworth: I don't feel well enough I don't feel I can really do this job anymore, or they have a moment of Epiphany where they go.
00:13:12.240 --> 00:13:25.740 Pat Duckworth: I don't really want to do this job anymore, I want to do something that's more fulfilling and I think over covert we've seen a lot of people make that kind of decision of what do I really want to do and what makes life worthwhile so great.
00:13:25.830 --> 00:13:34.920 Ellen Kocher: really good absolutely yes, many women do leave more women leave the workforce at that time than men, so it is fascinating.
00:13:35.670 --> 00:13:42.090 Pat Duckworth: fascinating and you know, has financial implications let's let's look at your second month ago.
00:13:43.140 --> 00:13:51.300 Ellen Kocher: So my second article this one i'm super proud of because i'm coming to everybody from Geneva Switzerland and Swiss my husband is with my children us with my family is with.
00:13:51.570 --> 00:14:03.990 Ellen Kocher: There was an article that came on forums, the best countries to grow old and keep that in mind grow not get all rolled in and Switzerland came out number one in the world, so I thought that was pretty cool to share with everybody.
00:14:04.350 --> 00:14:06.720 Pat Duckworth: yeah lovely we're all moving to fit.
00:14:09.060 --> 00:14:10.350 Ellen Kocher: Well, with open arms.
00:14:13.050 --> 00:14:27.570 Pat Duckworth: Excellent so join us after the break when i'm going to be talking to me about life beyond 50% the Swiss way and it's five dimensional we're only going to be able to cover one dimension, I think, unless we can stretch it a bit.
00:14:27.840 --> 00:14:31.590 Pat Duckworth: But we're gonna be talking about your finances so join us after the break.
00:16:44.760 --> 00:17:01.650 Pat Duckworth: Welcome back to the hot women rock radio show and empowering women leaders at menopause and finances definitely is something that empowers women leaders, so my guest today villain kosher in she's an economist and certified workplace wellness consultant.
00:17:03.090 --> 00:17:14.070 Pat Duckworth: With a master's degree in health and wellness coaching health and mindful eating coach and co leader of the ICM community of practice hw see she was educated in the USA.
00:17:14.340 --> 00:17:24.000 Pat Duckworth: But she's lived in Switzerland for over 30 years following 10 years in the finance industry and understands the challenges of a busy working life in.
00:17:25.620 --> 00:17:30.090 Pat Duckworth: She lost weight and found her new self through nutrition and lifestyle change.
00:17:30.540 --> 00:17:41.580 Pat Duckworth: Through her company wellness she has dedicated the past 15 years to nutrition and workplace wellness promoting a non diet mindfulness based eating approach.
00:17:41.970 --> 00:17:53.310 Pat Duckworth: Physical Activity holistic health and self care Ellen has coached hundreds of individuals and groups in dozens of organizations to make sustainable lifestyle changes empowering them.
00:17:53.670 --> 00:18:04.770 Pat Duckworth: To go from knowing what to do to actually doing it there's a big difference ella resides in Geneva Switzerland with her husband and three children welcome Ellen it's lovely to see you.
00:18:05.790 --> 00:18:15.870 Pat Duckworth: Thank you very much, let me be here so tell us a bit about your early career working as an economist working in finance is what drew you to that area.
00:18:18.270 --> 00:18:29.040 Ellen Kocher: I think, as as many as often will release ourselves the calling comes very naturally it's not something that I was actually looking for I moved to Switzerland to learn French post Grad i'd already learned Italian.
00:18:29.520 --> 00:18:40.260 Ellen Kocher: And while I was here with a degree degree in economics, I sought out by the finance industry and, as some of you might know, Switzerland is the world of banks chocolate and watches, too, but.
00:18:40.320 --> 00:18:40.800 Pat Duckworth: Everything.
00:18:40.830 --> 00:18:55.170 Ellen Kocher: Is the business here, I would have loved to work on chocolate, we can talk about that later, but I was called to banking and I worked as a management consultant for a large one of the large consultancy firms for nine years actually I did that.
00:18:55.860 --> 00:18:59.070 Pat Duckworth: Yes, so what made you change paths.
00:19:00.570 --> 00:19:14.790 Ellen Kocher: very good question, and it was literally a wake up call, I had a very busy traveling lifestyle, it was the year before I would have been become a partner in the company, I was working at those big firms, you know that goes.
00:19:16.170 --> 00:19:24.060 Ellen Kocher: And I got pregnant and it was after my pregnancy, I had my babies, I had my maternity leave, and you know what happens, we get a mindset shift.
00:19:24.420 --> 00:19:32.670 Ellen Kocher: When you're doing something different, I was no longer on a plane twice a week, I was no longer working with teams and having stressful deadlines, I was on maternity leave.
00:19:33.360 --> 00:19:48.960 Ellen Kocher: And it was during that maternity leave actually after the third day that I looked at myself in the mirror and I didn't feel like what I saw corresponding to the person I was before, so I decided to start losing weight and, by the way, Pat was big secret until anybody.
00:19:50.100 --> 00:19:52.110 Ellen Kocher: Without terrorist you know I.
00:19:52.290 --> 00:19:58.740 Ellen Kocher: yeah I thought of it before I hit it was just a wake up call, and that was the beginning of my of my journey.
00:19:59.640 --> 00:20:10.410 Pat Duckworth: And so you then did your own research and training and what made you decide to stay in that field was it just that's where the new calling.
00:20:11.520 --> 00:20:14.610 Ellen Kocher: This is lovely lovely question, thank you for that question.
00:20:15.750 --> 00:20:23.580 Ellen Kocher: there's a stop In between there, because what happened when I actually lost my weight is the corporation, and I love, to say the name of the cooperation of the last.
00:20:23.580 --> 00:20:32.220 Ellen Kocher: yeah okay what's with weight weight watchers Emily nobody knows weight watchers weight watchers actually reached out to me, and they said hey Alan you've got this wonderful business savvy.
00:20:32.550 --> 00:20:38.160 Ellen Kocher: you've got the languages and you're a great example of someone who's lost 50 pounds.
00:20:39.120 --> 00:20:48.660 Ellen Kocher: 25 kilos would you like to lead up our workplace wellness called me watch was at work, and I said Oh, I would love that and they said, but we don't have any clients.
00:20:49.140 --> 00:20:56.310 Ellen Kocher: So you have to find the clients and then and that's where it started pad my first client was the World Health Organization in Geneva.
00:20:56.670 --> 00:21:02.670 Ellen Kocher: And then I got many, many multinational corporations and I stayed for nine years.
00:21:03.240 --> 00:21:12.570 Ellen Kocher: And that shift between so i've gone from business, you know finance businesswoman stressful to workplace well being where I stayed for approximately nine years.
00:21:13.020 --> 00:21:21.930 Ellen Kocher: And then I had a second kind of an Epiphany and the Epiphany was twofold first of all I recognize that workplaces needed more than weight management.
00:21:23.910 --> 00:21:27.750 Pat Duckworth: yeah that's clear for all of us stress resilience sleep so.
00:21:27.750 --> 00:21:39.630 Ellen Kocher: Many things were important that that was not answering and not only that, but many of the people that were losing weight would regaining so are you seeing these yo yos happen.
00:21:40.020 --> 00:21:51.300 Ellen Kocher: And as well on the aging spectrum people would their bodies would change and they wouldn't adjust with that they try to apply rules and it just didn't work, so I literally left.
00:21:51.750 --> 00:22:03.570 Ellen Kocher: Not it didn't fit anymore I wasn't feeling I was, I was authentic in the work I was doing and I left but I didn't know what was going to create my business until somebody said to me as.
00:22:04.770 --> 00:22:09.540 Ellen Kocher: You walk the talk you can't do something different that's I just got goosebumps saying.
00:22:09.540 --> 00:22:21.720 Ellen Kocher: yeah because it it's what grounds, you when you find your mission your passion your purpose it's right, and you know it like meeting a husband or a wife.
00:22:22.350 --> 00:22:34.410 Pat Duckworth: But other people recognize it in you don't wait don't know friends so to you sometimes it takes somebody else seeing who we are, in a way that we don't see ourselves.
00:22:34.860 --> 00:22:45.660 Pat Duckworth: I mean, I had over 30 years working in public service i've worked in property and property, taxation and when I said I was taking early retirement, I was going to retrain.
00:22:46.440 --> 00:22:57.480 Pat Duckworth: A woman sets, and you know, I was in a very male dominated a very technical job, and one of the women who've known me for number years said, what are you going to do, Pat start your own ashram.
00:22:59.130 --> 00:23:06.660 Pat Duckworth: And it's like she had seen that there was something different, and when I said well i'm going to train to be a therapist so totally makes sense.
00:23:07.830 --> 00:23:12.990 Pat Duckworth: So other people we can't help but leak, who we really are.
00:23:13.650 --> 00:23:17.250 Ellen Kocher: I think that's so true and it's you know, in the coaching world.
00:23:17.550 --> 00:23:31.380 Ellen Kocher: that's one of the things that we do as coaches is we we help individuals identify what other see and sometimes it's similar question, this is a great tip just to leave with people when you say something to yourself.
00:23:32.400 --> 00:23:35.340 Ellen Kocher: Ask yourself a second question is that really true.
00:23:36.870 --> 00:23:45.630 Ellen Kocher: Is that really true when i'm saying to myself and looking at yourself in the mirror is different than just being a custom to who you think you are.
00:23:45.870 --> 00:23:58.860 Pat Duckworth: yeah absolutely we've gone deep on that already, and you know I love just reading out your approach to weight management, because it's often simplified of you just need to.
00:23:58.890 --> 00:24:00.540 Pat Duckworth: eat less and exercise more.
00:24:00.570 --> 00:24:08.820 Pat Duckworth: And it is so much deeper than that if you if you, you know if you thought Oh, I have to eat less and exercise i'm still not getting.
00:24:10.320 --> 00:24:27.180 Pat Duckworth: So much more to it's not your fault that's just the kind of a myth that is put out there and actually sticking to a different way of eating and being mindful, it takes some practice it's you have to change the mindset around it, we could talk about that for hours.
00:24:27.300 --> 00:24:28.140 Pat Duckworth: we're not going to.
00:24:30.540 --> 00:24:44.460 Pat Duckworth: know it would be lovely so I have had the opportunity to read your book wake up shake up thrive tell us a bit about the five dimensions of well being, even if we can't cover them all today let's just talk quickly about them.
00:24:44.970 --> 00:24:55.230 Ellen Kocher: I would be happy to thank you, thank you for talking you speaking about about my book wake up shake and thrive, by the way, that name came out like that, when we named when we named our business.
00:24:55.590 --> 00:25:03.630 Ellen Kocher: We want to wake up the conversation about our demographic world shake up the mindsets so that we can thrive.
00:25:04.080 --> 00:25:09.900 Ellen Kocher: And to do so it's not about weight it's not about what is the same conclusion, you had not about the astral.
00:25:10.260 --> 00:25:16.500 Ellen Kocher: it's about many dimensions, so we narrowed it down to five dimensions, you can call them what you like we came down with five.
00:25:16.860 --> 00:25:27.060 Ellen Kocher: Physical physical well being because that is basically the 70% of the illnesses and aging is due to our physical well being.
00:25:27.480 --> 00:25:35.460 Ellen Kocher: emotional well being intellectual well being that's about brain power that's about keeping your brain alive and an active.
00:25:35.910 --> 00:25:45.720 Ellen Kocher: spiritual well being and no fears that that's not about religion it's about that purpose, we just talked about that grounding feeling when you know it's right.
00:25:46.260 --> 00:25:53.130 Ellen Kocher: And just to say something, you said earlier, keep in mind and let's open our minds to the fact that that changes in a lifetime.
00:25:53.670 --> 00:26:12.360 Ellen Kocher: If we live video nine years, I certainly hope I have multiple purposes that show up on my on my spectrum and, last but definitely not least is financial and before we do that deep dive on financial i'd like us all i'd like to put bringing my Swiss touch here.
00:26:13.410 --> 00:26:17.340 Ellen Kocher: i'd like us to think of these five dimensions, like the gears of a Swiss watch.
00:26:17.850 --> 00:26:26.190 Ellen Kocher: hmm so as they intertwine they all affect each other, not one is more important than another.
00:26:26.880 --> 00:26:33.660 Ellen Kocher: Financial if you're not eating at the end of the month, because you can't afford it, can you be healthy.
00:26:34.170 --> 00:26:39.540 Ellen Kocher: yeah are you emotionally happy, of course, not so they're all intertwined think it is Swiss watch.
00:26:39.870 --> 00:26:53.490 Ellen Kocher: Think of the gears shifting throughout your lifetime and think about your rewinding that watch every once in a while you're responsible for that rewinding so I quite like that that Swiss metaphor that works quite well understanding the five dimensions pat.
00:26:53.940 --> 00:26:55.890 Pat Duckworth: Can we bring a toblerone in there somewhere.
00:26:56.400 --> 00:26:57.840 Ellen Kocher: Oh okay all right.
00:26:57.870 --> 00:27:06.420 Ellen Kocher: i'm throwing it in right now, which country which country, do you think it's the most chocolate in the world for person.
00:27:07.710 --> 00:27:08.730 Pat Duckworth: Is it the UK.
00:27:10.050 --> 00:27:10.860 Ellen Kocher: it's Switzerland.
00:27:10.890 --> 00:27:29.190 Ellen Kocher: The country oldest best in how awesome is that i'm such a foodie and such a chocolate person Swiss people eat more chocolate per capita than any other country and live alone we live the longest and we're According to statistics for the baggage roldan so how cool is that.
00:27:29.430 --> 00:27:31.470 Pat Duckworth: when of course you're happy you're eating chocolate.
00:27:33.000 --> 00:27:36.240 Ellen Kocher: Exactly exactly and making watches.
00:27:37.680 --> 00:27:46.230 Pat Duckworth: But I do like these five dimensions that you've come up with, because when I talk about menopause I think people think i'm just going to talk about hot flashes.
00:27:47.040 --> 00:27:55.530 Pat Duckworth: And that is such a narrow down version of what menopause is about because it's about all of these dimensions that you've talked about.
00:27:55.800 --> 00:28:01.950 Pat Duckworth: You know, there is the physical side of it, there is the emotional side, there is a spiritual side of it.
00:28:02.460 --> 00:28:14.850 Pat Duckworth: And again, not trying to scare people by saying it's religious but no it's about a whole mindset shift which becomes very spiritual, which is why a number of women.
00:28:15.360 --> 00:28:26.370 Pat Duckworth: Do change their jobs at this stage of life because they start to change their idea of purpose as your body's changing as it's kind of giving you the wake up call.
00:28:27.060 --> 00:28:35.280 Pat Duckworth: Your maybe halfway through your life it's like time to reassess let's have a think about this Where are we now how are we doing.
00:28:35.850 --> 00:28:44.100 Pat Duckworth: Where do we want to be over the next you know that's what happened to me, I thought i'm not going to do this job for the next 1015 years I don't want to.
00:28:44.850 --> 00:28:53.400 Pat Duckworth: You know, end up retiring and sitting in a chair somewhere, I want to do something different, and something meaningful and it turned out to be menopause.
00:28:57.600 --> 00:29:03.270 Pat Duckworth: So join us after the break when we will be deep diving into those finances with Ellen see there.
00:31:06.540 --> 00:31:14.880 Pat Duckworth: Welcome back to the hot women rock radio show empowering women leaders at medicals with today I am talking to Ellen kosher.
00:31:15.360 --> 00:31:22.560 Pat Duckworth: who originally from America and having lived in Switzerland for 30 years and she's a wellness coach.
00:31:22.890 --> 00:31:32.190 Pat Duckworth: And today, we could talk about whole range of subjects, but we're going to talk about finances, because this is something i've wanted to talk about four weeks and finding somebody.
00:31:32.580 --> 00:31:38.790 Pat Duckworth: Who would talk about it has not been easy so i'm really happy that ELENA has joined me today.
00:31:39.570 --> 00:31:49.770 Pat Duckworth: In the way I think about women and finances is that we are so good at budgeting day to day women control, a lot of household spending.
00:31:50.160 --> 00:32:01.230 Pat Duckworth: If you want to know if you want to target women or with advertising it's normally around household spending, but they tend not to be involved so much in the long term planning.
00:32:01.560 --> 00:32:14.220 Pat Duckworth: The planning for pensions, the planning for savings so Ellen, why is it that women are financially literate day to day but illiterate when it comes to the longer term.
00:32:15.390 --> 00:32:27.270 Ellen Kocher: very, very good question and I just want to sort of prepare everybody we're not going to be giving you financial advice today and, in fact, when we got this chapter in the book.
00:32:28.110 --> 00:32:34.950 Ellen Kocher: I could have brought in all my finance and, by the way, the main well as well, plus health done him he right wellness for my business.
00:32:36.390 --> 00:32:43.170 Ellen Kocher: And we really decided that we needed to talk about was literacy mindset and and let's just start with your question there.
00:32:44.640 --> 00:32:57.000 Ellen Kocher: I think that, like, speaking about menopause money is a little bit taboo we don't speak about money, and some people partners actually quite like that.
00:32:57.780 --> 00:33:12.720 Ellen Kocher: it's good not speak about money and money goes both ways, how many women spend money and they hide it from their partner or vice versa Okay, so I think we have to be honest, we don't talk about it think about this path, how often have you had conversations with your parents.
00:33:14.040 --> 00:33:15.060 Your siblings.
00:33:16.350 --> 00:33:33.780 Ellen Kocher: Your spouse and your children about money, the future of money there's this little thing it may it's kind of evil, I have one British friend when she made her first million she told her dad so proud, you know what he said to her pat.
00:33:34.440 --> 00:33:53.190 Ellen Kocher: should be ashamed of yourself ah, you should be ashamed of yourself it's a mindset, so I think that one of the reasons that there's this gap, and we could talk a little about about that that financial literacy gap is that we don't talk about it yeah.
00:33:53.610 --> 00:34:07.500 Pat Duckworth: yeah, and the reason that I bring it up in respect of metaphors is that, as we were looking at in the news reports, a lot of women change jobs that men are paul's leave their jobs.
00:34:08.280 --> 00:34:21.150 Pat Duckworth: and often it's because they don't feel very well at work and they work part time or they take jobs that are a lower level than their experience and qualifications, because they don't feel like they can.
00:34:21.510 --> 00:34:27.030 Pat Duckworth: cope with something more, some women just think i'd be so much easier to go and work at the supermarket.
00:34:28.080 --> 00:34:38.280 Pat Duckworth: Even though they're really experienced and qualified and other women just walk away or you know they don't go off to promotions.
00:34:38.700 --> 00:34:44.460 Pat Duckworth: And you might think oh that was just me I just thought i'd do that this is what's going on in a lot of women's heads.
00:34:44.850 --> 00:34:56.790 Pat Duckworth: And why there is a 40% pension gap for women in the UK, you have 40% less in your pension pot than your male colleagues have that is huge.
00:34:57.420 --> 00:35:11.580 Pat Duckworth: Because you know the pension age has moved back and back and you're now looking at working to your nearly 70 and then have you got enough money I don't mean to sound really like dark about it, but what I really would do is just wake women up I.
00:35:11.610 --> 00:35:20.070 Pat Duckworth: want to do is wake up shaped our nation let's wake up and see what's going on here, so what needs to change in the mindset.
00:35:20.940 --> 00:35:28.380 Ellen Kocher: yeah and the truth of the matter is when we actually get literate we can look forward to retirement.
00:35:28.830 --> 00:35:36.420 Ellen Kocher: As long as it's hidden we're actually frightened most women are frightened they're kind of in a state of denial.
00:35:36.720 --> 00:35:48.360 Ellen Kocher: And not only women and again it happens, for reasons that are not necessarily under our control many women leave the workforce for for pregnancy other reasons they got blessed built up into that pension.
00:35:48.780 --> 00:35:55.470 Ellen Kocher: But knowledge really is power so one of the things that we do have to do is start having those conversations.
00:35:56.190 --> 00:36:04.650 Ellen Kocher: We need to seek out expert advice, and you know, one of one of the things I would like to just and again, this is an invitation I would invite people to start.
00:36:05.130 --> 00:36:13.140 Ellen Kocher: Counting and when I say count I don't mean count your pennies and do an excel spreadsheet let's first of all count how often do you think about money.
00:36:14.460 --> 00:36:25.500 Ellen Kocher: What do you think about it, is it totally preoccupying you are you in denial, are you ignoring it How often do you think about count in the day how often is it how often you talk about money.
00:36:26.760 --> 00:36:38.640 Ellen Kocher: How often do you speak about it count how often it's a preoccupation in your mind, and then the mindset shift because of our age.
00:36:39.840 --> 00:36:48.990 Ellen Kocher: Where do I want to be, you know we've seen a lot in the news now with some people are retiring selling everything living in a camping car and living, naturally.
00:36:49.620 --> 00:36:58.440 Ellen Kocher: Wonderful other people, they want to retire on a beach others want to be on a golf course but it's about thinking about where do want.
00:36:58.890 --> 00:37:11.820 Ellen Kocher: To be and then you can work toward it and, by the way, it's never too early to have this thought process never be encouraged children wouldn't you love your children to be able to retire at 60.
00:37:12.480 --> 00:37:23.340 Ellen Kocher: In the Bahamas we don't want that, so I think that, in order to change this, we need to start like open the conversation we need to find people that are skilled, where we are not.
00:37:23.700 --> 00:37:24.060 yeah.
00:37:25.440 --> 00:37:43.110 Pat Duckworth: yeah I remember the first time I had a financial consultant, which was a few years ago and sat down with her, and it was just so helpful and things that she put in place, then I benefit from now, and this is probably 30 years ago.
00:37:44.310 --> 00:37:59.760 Pat Duckworth: That I just found this financial consultant, I was quite happy that it was a woman, because she would understand the situation that I was in and yeah it was really helpful to have that conversation, then, and since then i've always had a financial advisor.
00:38:00.450 --> 00:38:04.200 Ellen Kocher: it's interesting though that Look how late in life, you took that consultant.
00:38:04.680 --> 00:38:16.470 Ellen Kocher: yeah right a lot of people count on their employer to give them this information and some employers do, but what they don't discuss are things like money mindset, how do you feel about money.
00:38:16.800 --> 00:38:28.200 Ellen Kocher: What is your history with your family, what is your cultural background around money you know what do you want to communicate to your family and your children and he was in there are you a saver and how you want to be.
00:38:28.740 --> 00:38:37.170 Pat Duckworth: yeah and you know those family patterns around money the messages you've got at home about money, as you were saying about your friend.
00:38:37.590 --> 00:38:46.770 Pat Duckworth: You know, you might have had messages that rich people were not very nice that you know you shouldn't have too much, because it means somebody else's got less.
00:38:47.730 --> 00:38:48.690 Ellen Kocher: root of all evil.
00:38:49.020 --> 00:38:51.390 Pat Duckworth: Money is the root of all evil all of.
00:38:52.110 --> 00:39:00.630 Pat Duckworth: All of that, and you take those messages on board as a child, you might not even realize they're running in the background of your mind and affecting your decisions.
00:39:02.280 --> 00:39:03.690 Ellen Kocher: Completely affect your.
00:39:03.690 --> 00:39:06.540 Pat Duckworth: Decisions and and, by the way, the statistics are.
00:39:07.020 --> 00:39:19.230 Ellen Kocher: 60% of the population 55 and over are actually preoccupied about retirement about having enough money to survive and to pay their medical bills so that's a huge amount.
00:39:20.370 --> 00:39:25.920 Ellen Kocher: And we don't need to be worried there's a way of anticipating them to not have that worry.
00:39:26.460 --> 00:39:32.670 Pat Duckworth: yeah yeah absolutely such an important voice a Swiss touch around finances.
00:39:33.570 --> 00:39:39.030 Ellen Kocher: So there are a couple things there and, as we said earlier, chocolate is very important yeah, of course, does.
00:39:39.390 --> 00:39:41.670 Pat Duckworth: have enough money to eat chocolate yes.
00:39:41.790 --> 00:39:48.060 Ellen Kocher: it's super interesting because, in terms of retirement Swiss are really, really good at saving.
00:39:48.630 --> 00:39:57.120 Ellen Kocher: super good, in fact, they are the best in the world at saving you per capita and I actually had the statistics in our book, I do believe Finland had the lowest rate of savings.
00:39:57.510 --> 00:40:11.940 Ellen Kocher: But we had to go one layer deeper, for example in the United States there are huge number of Homeowners so their savings is wrapped up in your home and your mortgage in Switzerland, the very expensive country, not many people own home.
00:40:12.420 --> 00:40:13.860 Pat Duckworth: owners are being it's not.
00:40:13.860 --> 00:40:22.470 Ellen Kocher: proprietary you have very it's almost the exact opposite of the US I kind of took the two extremes, so what people will do is they will build a retirement.
00:40:22.860 --> 00:40:37.080 Ellen Kocher: Income up and they will have a lot of savings so that's an interesting there's there's very typical cultural difference in two places also interesting, you may not know this little fun fact in Switzerland, we have four national languages, did you know that.
00:40:38.370 --> 00:40:39.450 Ellen Kocher: You did do you.
00:40:39.480 --> 00:40:41.220 Ellen Kocher: know what the for on testing you.
00:40:41.610 --> 00:40:42.360 Pat Duckworth: Oh.
00:40:42.600 --> 00:40:43.620 Pat Duckworth: If you ever.
00:40:43.740 --> 00:40:46.650 Pat Duckworth: Forget German, Italian and.
00:40:47.490 --> 00:40:52.170 Ellen Kocher: Real much yeah it's romantic before when a lot of people think English but it's normal.
00:40:52.170 --> 00:41:02.970 Ellen Kocher: us about me it's about the language here within those areas, the way people say is very, very different, so I thought that was super interesting that, even within a country.
00:41:03.360 --> 00:41:13.740 Ellen Kocher: Depending on the vocal customs but Swiss, as a rule, are very good savers and again people that anticipate the anticipate with call.
00:41:13.800 --> 00:41:16.110 Pat Duckworth: We talked about the relationship of stress.
00:41:17.040 --> 00:41:27.000 Ellen Kocher: You know, with our with our with our menopause with our retirement and the people that don't anticipate don't have that stress and we end up being the country that's the best country to grow older and.
00:41:27.300 --> 00:41:28.950 Pat Duckworth: So it's we're doing something right there.
00:41:30.060 --> 00:41:39.420 Pat Duckworth: I know in Japan, I have this on the news years ago that women have what they call belly button money have you ever heard that tell me more no tell me.
00:41:40.020 --> 00:41:40.530 Ellen Kocher: about money.
00:41:41.550 --> 00:41:42.630 Ellen Kocher: mattress money.
00:41:42.990 --> 00:41:57.390 Pat Duckworth: Well, believe that money is almost like an escape fund, you know that they have the women put this money aside as their own savings i'm sure belly button is some kind of colloquialism but that's what it's called, and so the.
00:41:58.140 --> 00:42:04.500 Ellen Kocher: Big the big band around the belly in the I don't know what we call that belt, you know the.
00:42:04.770 --> 00:42:05.520 Pat Duckworth: Oh it's an.
00:42:05.580 --> 00:42:06.330 Ellen Kocher: op mode oh.
00:42:06.990 --> 00:42:09.480 Pat Duckworth: yeah I have an Ob or something like that.
00:42:10.290 --> 00:42:12.930 Pat Duckworth: Right oh so perhaps that's where they keeping them.
00:42:15.030 --> 00:42:19.050 Pat Duckworth: Keeping it safe great what other tips, have you got for us.
00:42:19.800 --> 00:42:30.300 Ellen Kocher: yeah another tip is know where you're at we talked about counting earlier know where you're at don't stay in the dark pull out that stuff you're not looking at.
00:42:30.660 --> 00:42:38.760 Ellen Kocher: Do that excel spreadsheet if you can't do it have somebody do it for you and a cool thing would be asked as your siblings your children.
00:42:39.090 --> 00:42:49.830 Ellen Kocher: Ask your partner but sit down and do a reality check know where you're at that's the very first thing the second thing is going to be identify kind of where you want to be.
00:42:50.400 --> 00:42:58.680 Ellen Kocher: So you can identify your proper gap again, do you want to be, you know, maybe earning less money and less fancy clothes and.
00:42:59.130 --> 00:43:06.570 Ellen Kocher: really happy because you have time with your grandchildren, or do you want to be in the speedboat no judgment call and figure that out what's important.
00:43:06.810 --> 00:43:15.300 Ellen Kocher: I did there's your purpose identify where do I want to be right now, what is my purpose, what is my what is my driver now in my life.
00:43:15.810 --> 00:43:31.260 Ellen Kocher: And then the third thing would be really to identify those options, so what can I do to get there, do I need to work part time do I need to you know sell some stuff off Do I need to whatever it might be shift around some bank accounts, whatever it might be it's opening it up.
00:43:31.680 --> 00:43:42.120 Pat Duckworth: yeah and I think it was part of that is is really looking to see where the money is leaking away because money doesn't leave you know, am I paying for subscription that I don't use.
00:43:42.570 --> 00:43:53.730 Pat Duckworth: Am I you know where is the money that's going out 10 pounds a month, whatever a month, but if you took it all together would actually make a difference, you could be saving it.
00:43:54.360 --> 00:43:58.980 Ellen Kocher: which will be there and we can see you women, we women were really good at this.
00:43:59.220 --> 00:44:06.750 Ellen Kocher: yeah do household budgets, you know we remember those days, we all had periods of life we skinned and save and those little bits.
00:44:08.970 --> 00:44:19.350 Pat Duckworth: Up excellent join us after the break when we will be getting the final pennies out of LM on her financial advice see you after the break.
00:46:17.730 --> 00:46:25.890 Pat Duckworth: Welcome back to the hot women rock radio show and powering women leaders at menopause where my guest today and enclosure and I are talking about.
00:46:26.400 --> 00:46:31.080 Pat Duckworth: financial literacy and why it's important at any stage of life.
00:46:31.890 --> 00:46:42.660 Pat Duckworth: and very important at menopause when you might be making decisions about the number of hours you're working where you're working whether you're going for promotions it all has a big effect.
00:46:43.020 --> 00:46:59.370 Pat Duckworth: On your financial planning and your future, and you know we were talking about the fact that all these things into link like those gears of a Swiss clock you haven't got enough money it's hard to eat well no cheap food isn't necessarily good food.
00:47:00.510 --> 00:47:16.800 Pat Duckworth: And so to eat things that will support your health and support your body and your emotions, as put your well being you need a certain amount of money so money isn't like isn't a bad thing it's not the root of all evil.
00:47:17.970 --> 00:47:30.780 Pat Duckworth: If you've got a bad attitude to it, it can be, but if you've got a good attitude about what you're trying to achieve with it, how you want to live your life what you want to pass on to your children, these are really positive things to be thinking about.
00:47:32.160 --> 00:47:39.510 Pat Duckworth: ella we're heading into the last 10 minutes of the show what what what the women need to know what can you tell us.
00:47:40.530 --> 00:47:46.830 Ellen Kocher: I think there are two things that I loved it I would love to share I love the fact that you just spoke spoke about our legacy.
00:47:47.700 --> 00:47:54.990 Ellen Kocher: And again it's it's really a big chunk of the financial piece, what do you want to leave behind.
00:47:55.440 --> 00:48:03.630 Ellen Kocher: And when I say that I don't only mean in terms of finances money what contribution, do you want to leave what impact, you want to leave.
00:48:03.990 --> 00:48:14.700 Ellen Kocher: And again, this can affect your choice to work or not to work, but I know if, for example, United States certain if you do volunteer work, it can be deducted from your taxes, so there are ways of.
00:48:15.030 --> 00:48:30.750 Ellen Kocher: Of maneuvering your legacy, so it is what you want, so I would encourage people to start thinking about what do I want to leave leave behind who do I want to seem and there's Another thing which we talked a little bit about mindset and what i'd like to talk about is the.
00:48:31.860 --> 00:48:33.990 Ellen Kocher: abundance and scarcity mindset.
00:48:34.620 --> 00:48:35.970 Pat Duckworth: This is a big one Ellen.
00:48:37.440 --> 00:48:38.310 Pat Duckworth: is a big round.
00:48:38.520 --> 00:48:46.050 Ellen Kocher: yeah it's a really big one, and there's this one piece I would love to things i'd like to share so first of all, this is a really cool statistic from ramsey solutions.
00:48:46.410 --> 00:48:59.100 Ellen Kocher: And they conducted a study of over 10,000 millionaires and one of the most fascinating findings was that 90% of millionaires believed they could become millionaires.
00:48:59.970 --> 00:49:10.860 Ellen Kocher: I find that fantastic that's not a small, and this the abundance mindset it's not about spending more money it's being generous with your thinking.
00:49:11.250 --> 00:49:21.240 Ellen Kocher: it's not having that attitude shame on you or money is at the root of all evil it's having a good gary's open minded attitude toward money.
00:49:21.780 --> 00:49:30.570 Ellen Kocher: For example, i'm doing a lot of working a lot with older women entrepreneurs, because they leave the workplace, the realism to work and they're going to create their own business well.
00:49:31.110 --> 00:49:38.610 Ellen Kocher: At one point you've got to be abundant with your money and spend a little money, for example, to get help to do it right.
00:49:38.970 --> 00:49:48.630 Ellen Kocher: And we need to be open to that because if you don't you won't get where you need to get to be true to your purpose your identity your legacy.
00:49:48.960 --> 00:49:56.790 Ellen Kocher: All of these other things you've been speaking about so it really is about opening that mindset and it's something that we talked about in the book and.
00:49:57.120 --> 00:50:11.310 Ellen Kocher: it's again i'll give you some links afterwards to some self quizzes so people can test themselves and see where they're at because now we're still we're waking it up we're shaking it up, but let's do something with it let's move to the practical side of things yeah.
00:50:11.940 --> 00:50:20.160 Pat Duckworth: yeah and putting something into practice, so if you've been listening and you think, or perhaps I should be looking at my finances fantastic.
00:50:20.730 --> 00:50:23.730 Pat Duckworth: don't go back into your show don't go back into contraction.
00:50:24.390 --> 00:50:34.080 Pat Duckworth: If you're in fear about it that's not going to help if you're frightened of money that's not going to help you and you can be frightened some people are frightened of too much, some people are frightened of too little.
00:50:34.590 --> 00:50:49.590 Pat Duckworth: none of it is to be frightened of it's about okay So where do I want to be in the hell, am I going skipper and when you're talking to financial advisors find one that you like this is really important financial advisors come in all shapes and sizes.
00:50:50.040 --> 00:50:50.820 Ellen Kocher: are free.
00:50:50.910 --> 00:50:54.660 Ellen Kocher: Lots of free of charge, they don't they don't charge you at the beginning.
00:50:56.220 --> 00:50:56.820 Ellen Kocher: employer.
00:50:57.930 --> 00:51:04.290 Pat Duckworth: Their people and you might talk to the first one thing or do you really like that person that's okay you don't have to like everybody.
00:51:05.190 --> 00:51:16.500 Pat Duckworth: I talked to a few more and then you know you're looking for somebody who listens to you and that's what I found with my financial advisor that she listened, she was asking me about.
00:51:16.950 --> 00:51:27.480 Pat Duckworth: risk and about how I felt about the future and what sort of places where I feel comfortable putting money and so she was really listening and gauging.
00:51:27.720 --> 00:51:37.170 Pat Duckworth: Who, I was and, therefore, what I would want to do with my money and that's really important that you haven't got somebody who just immediately tries to sell you a product.
00:51:37.530 --> 00:51:48.000 Pat Duckworth: But they actually listen to you and explain to you why this would be a good product for you or why this wouldn't Sue you, I can see you're you're thinking about that Ellen what's.
00:51:49.560 --> 00:51:58.530 Ellen Kocher: You know what's what's stirring up for me is all of the decisions we make during menopause and throughout from the beginning of the news you shared.
00:51:59.250 --> 00:52:05.400 Ellen Kocher: Be careful about the decisions you make whatever they might be, but financial decisions are important.
00:52:05.940 --> 00:52:19.920 Ellen Kocher: Leaving the workplace is important becoming an entrepreneur is an important decisions when you're in that space of not feeling good if that's the case if you're having symptoms, or if you're really stressed pause pullback and as.
00:52:21.000 --> 00:52:35.700 Ellen Kocher: i've made this this week is is about take that pause somehow take that pause to to have that bird's eye view, to make a good decision that that suits whatever that decision might be that's what that's what popped up for me there.
00:52:36.870 --> 00:52:50.070 Pat Duckworth: i'm so glad you said that that's a really important point don't make any decisions through a place of fear or Fo mo you know, like Oh, if I don't get this now i'm going to miss it no take a breath.
00:52:51.450 --> 00:52:54.000 Pat Duckworth: I love that, thank you for saying it because.
00:52:54.000 --> 00:52:54.330 Ellen Kocher: It is.
00:52:54.360 --> 00:53:02.730 Pat Duckworth: so important that you make relaxed decisions about it, that your brain isn't in contraction when you're thinking about this stuff.
00:53:03.210 --> 00:53:10.020 Pat Duckworth: And if you're feeling fear if you're feeling anxious, you might need to talk to somebody like Ellen like me.
00:53:10.440 --> 00:53:21.270 Pat Duckworth: Just so that you can calm yourself down and make some really good decisions around it you're not on your own with this, there are all sorts of people that can help you excellent anything else.
00:53:23.040 --> 00:53:24.690 Ellen Kocher: I have three top tips, would you.
00:53:24.690 --> 00:53:25.950 Ellen Kocher: Like me to share those.
00:53:26.430 --> 00:53:26.940 Ellen Kocher: Yes.
00:53:27.000 --> 00:53:27.960 Pat Duckworth: Before we we love with.
00:53:29.010 --> 00:53:40.470 Ellen Kocher: A very pragmatic person, first of all on our website wake up shake up thrive, which we, by the way we call it short wasn't wsu to wake up wizards and it's become a verb I was with us if we wasn't.
00:53:41.190 --> 00:53:50.220 Ellen Kocher: We have a resource hub tons of downloads there go and get your free stuff get your free chapters grab that stuff because it's really going to be useful for you.
00:53:51.180 --> 00:54:00.090 Ellen Kocher: My three tips number one to take stock i'm going to give you a website that I find very good and it is a UK website with lots of quizzes about your money mindset.
00:54:00.510 --> 00:54:09.840 Ellen Kocher: Again you're not putting in your financials it's about what are you thinking where your priorities relate.org.uk relate relationship with finances.
00:54:09.900 --> 00:54:18.720 Ellen Kocher: yeah very good website very good quizzes please go to that and figure out where you're at mind the gap How does that sound hat to you to mind the gap.
00:54:19.350 --> 00:54:20.370 Pat Duckworth: In amazing times.
00:54:20.730 --> 00:54:21.900 Ellen Kocher: A great title right.
00:54:23.490 --> 00:54:36.780 Ellen Kocher: mind the gap, if you are feeling uneasy about the literacy thing up skill it's really easy online classes available we've got people, you need lots of people available.
00:54:37.080 --> 00:54:44.520 Ellen Kocher: To upscale or to give you the confidence you need to move forward, because that confidence is going to make you enjoy your menopause.
00:54:45.060 --> 00:55:03.690 Ellen Kocher: embrace these years and thrive and, last but not least, something you and I do really well pad talk have the conversation open up the conversation plan the conversation conduct the conversation thank the other person for the conversation follow up and do it.
00:55:04.770 --> 00:55:14.580 Pat Duckworth: Fantastic so for everybody listening if you've been inspired don't just think well that was inspiring go and do something start a conversation.
00:55:14.940 --> 00:55:24.660 Pat Duckworth: Go to one of those websites i'll be putting them underneath the recording start upscaling yourself, because we want you to be thriving into your.
00:55:25.260 --> 00:55:37.650 Pat Duckworth: 60s 70s 80s 90s wherever you want to be at that stage of life, we want you to be thriving Thank you so much Ellen this has been a brilliant conversation i'm so glad we focused on.
00:55:39.390 --> 00:55:41.010 Pat Duckworth: Money is not so easy word.
00:55:41.310 --> 00:55:54.990 Ellen Kocher: It certainly isn't and I will finish with the quote from our federal counselor something that he said during coven which was, we need to ask now as fast as possible, but as slowly as necessary yeah.
00:55:55.800 --> 00:55:57.060 Pat Duckworth: The rush just.
00:55:59.010 --> 00:56:08.160 Pat Duckworth: Thank you so much, thank you today to my producer kyle for everything that he does quietly in the background stay tuned for.
00:56:08.850 --> 00:56:19.710 Pat Duckworth: That Reverend Dr tlc dismantle racism today she's talking about liberation in Community and her guests are Tracy J and Monette chiasson discussing how we can.
00:56:20.250 --> 00:56:28.410 Pat Duckworth: break down the ways in which we are in meshed in certain systems so that will be another powerful conversation with Reverend Dr Tara Lynn.
00:56:28.920 --> 00:56:41.880 Pat Duckworth: join me next week, when I will be talking to the wonderful Dr Valerie shepherd about happiness and, all things around happiness and have a brilliant week I look forward to seeing you next Thursday take care.