Investing
Zoe Team and Jacky L Petit-Homme, CFP® (Zoe Network Advisor)
7 min read
Recognize that your financial situation is unique to your specific life circumstances.
Avoid relying on peers’ financial advice as a substitute for professional planning.
Proactively discuss your finances to gain clarity and tailored financial strategies.
Your financial situation is as unique as a fingerprint; generalized advice or information found online may not apply to your specific needs.
Not necessarily. Peer advice can be misleading or inapplicable, so it is better to seek a personalized strategy from a professional advisor.
Rather than relying on crowdsourced or generic information, have open, professional discussions about your finances to develop a strategy that fits you.
Your financial picture is as unique to you as your fingerprint. If your co-workers have convinced you (rightfully so) to contribute to your 401(k), that doesn’t mean you should be investing in the same way they are.
Growing up, my parents never talked about money. As I write this today, I still honestly don’t know the level of income my parents ever earned. Since money wasn’t a frequent conversation in our house, neither was any other subject that came with a dollar sign!
When it came time for college, there were no savings earmarked for my tuition. There was no conversation about the differences between the newly opened joint checking and savings account I shared with my mom. There were no cautionary tales about that “free” credit card that I signed up for when I wanted a free t-shirt and burrito.
Besides a low-limit maxed-out credit card, I managed to work 2 to 3 jobs concurrently to pay my way through school and graduate with no major debt. As life went on after college, I started to realize that my peers were not so lucky… Many racked up credit card and student loan debt without fully grasping how their actions could haunt them in the future.
At first, I wondered why this scenario was such a regular occurrence. We can talk until the cows come home about the predatory practices of student loans and on-campus college credit card sales, but that’s not the entire story.
A survey by T. Rowe Price found that just 34% of black and brown families have discussions about money on a regular basis. The good news is that due to the pandemic, it’s up to about 44% of families. While that’s a step in the right direction, it’s still not enough. It’s no secret that the pandemic has widened the racial wealth gap: black and brown families were more likely to be negatively impacted by the pandemic.
I’ve been in the financial services industry since 2012. In my naivety, I figured that when I received my credentials, family and friends would come flocking to me for financial advice. After all, a big part of the reason why I started learning about personal finance was to help those I loved. I wanted to share my knowledge with my community, the people typically left behind by Wall Street.
I couldn’t have been more wrong. Perhaps I should have been clued in during the very first appointment I had with my older cousin. Five minutes into our conversation, her husband told me plainly “We don’t talk about financial matters with family.” At first, I was confused. As time went on and my experience broadened, I noticed my family and friends don’t really talk about money.
As Maya Angelou famously said, “Do the best you can until you know better. Then when you know better, do better.” Here is how you can do better:
Being open about money and sharing healthy money habits with them as early as possible will pay its dividends in the future. I always tell my wife that anything that our 3-year-old son would do or say was a direct reflection of us. The way we spoke to each other, how we treated strangers, and even how we walked. Even worse, whatever you’re not teaching them at home, they will learn elsewhere. If we want our children to succeed and understand how to build wealth, we must speak with them about financial matters early and often.
And please. Stop blaming the lack of personal finance education in schools. Albeit, I agree there should be some curriculum covered in high school. But at the end of the day, it’s our responsibility as parents to educate them about the impact of taking care of their credit score, paying themselves first, and building a savings account.
Good financial habits should begin at home. Learning at a young age will help young adults steer clear of common pitfalls.
70% of Black Americans do not have a will. Unfortunately, when we find out there isn’t a will, it’s usually too late.
Speak with your parents about their plan. Discuss how they want their estate to be handled. Encourage them to speak to an attorney and get their will executed. Not only will this give them peace of mind, but it will save you from additional headaches, as well. None of us look forward to having to settle our parents’ estates, but at least if you have the conversation, you can make sure you are aware of all their assets and their intentions of what to do with them.
On the flip side, you should also be talking to your parents about their retirement. About 41% of Americans say that they won’t be ready for retirement. Push them to plan and ensure they are on track. It becomes easier to avoid the question for most to avoid the pain of finding out if you’re behind schedule. However, avoiding a problem never solves it.
There are a few reasons why it’s vital for couples that manage their finances jointly should have frequent conversations around money. The lowest hanging fruit on that reason tree is to ensure your goals are aligned. The attitudes toward spending and saving can differ drastically between two partners, and that’s okay. If both of you are on the same page with your financial goals, then naturally both of your habits would align to reach the common goal.
It’s not unusual for one spouse to handle the family’s finances. I’m a firm believer in the division of labor in the household, and if one partner is savvier than the other, then I’m all for it. But just because one partner handles the money, it doesn’t mean the other shouldn’t be in tune with the big picture.
Where and how do we access our savings and investment accounts? Who do we have our life insurance through? Do we even have life insurance? What happens if we get sued? What happens if one of us gets sick? Who gets the kids if we both die prematurely? These questions should be discussed and implemented through a proper financial plan and executed Will.
Talking about money with your friends doesn’t have to be taboo. You don’t even have to talk abouthow muchyou’re making (although studies show that transparency in compensation leads to more equal pay across the board). Discussing financial goals and aspirations with your peers will help you feel less alone. Folks don’t hesitate to discuss pop culture, sports, or even personal details of their love lives. Why do we always leave money at the bottom of the list?
Are you talking about personal finances within your circles? What are your friends doing financially that you can incorporate into your own household? What are some mistakes you’ve made that you can help your friends avoid?
We shouldn’t only talk about our wins, we should also talk about our failures. That way you’re not only learning from your own mistakes.
Similarly, don’t WebMD your financial plan. Financial advice shouldn’t come from internet articles. Please, avoid the financial gurus and prophets of social media. Make sure the person you’re speaking with has the credentials to talk about real financial planning.
Watch out for the glorified salesman, and always seek professional advice and guidance to ensure that you are making the best decisions for yourself and your family.
Your financial picture is as unique to you as your fingerprint. If your co-workers have convinced you (rightfully so) to contribute to your 401(k), that doesn’t mean you should be investing in the same way they are.
Growing up, my parents never talked about money. As I write this today, I still honestly don’t know the level of income my parents ever earned. Since money wasn’t a frequent conversation in our house, neither was any other subject that came with a dollar sign!
When it came time for college, there were no savings earmarked for my tuition. There was no conversation about the differences between the newly opened joint checking and savings account I shared with my mom. There were no cautionary tales about that “free” credit card that I signed up for when I wanted a free t-shirt and burrito.
Besides a low-limit maxed-out credit card, I managed to work 2 to 3 jobs concurrently to pay my way through school and graduate with no major debt. As life went on after college, I started to realize that my peers were not so lucky… Many racked up credit card and student loan debt without fully grasping how their actions could haunt them in the future.
At first, I wondered why this scenario was such a regular occurrence. We can talk until the cows come home about the predatory practices of student loans and on-campus college credit card sales, but that’s not the entire story.
A survey by T. Rowe Price found that just 34% of black and brown families have discussions about money on a regular basis. The good news is that due to the pandemic, it’s up to about 44% of families. While that’s a step in the right direction, it’s still not enough. It’s no secret that the pandemic has widened the racial wealth gap: black and brown families were more likely to be negatively impacted by the pandemic.
I’ve been in the financial services industry since 2012. In my naivety, I figured that when I received my credentials, family and friends would come flocking to me for financial advice. After all, a big part of the reason why I started learning about personal finance was to help those I loved. I wanted to share my knowledge with my community, the people typically left behind by Wall Street.
I couldn’t have been more wrong. Perhaps I should have been clued in during the very first appointment I had with my older cousin. Five minutes into our conversation, her husband told me plainly “We don’t talk about financial matters with family.” At first, I was confused. As time went on and my experience broadened, I noticed my family and friends don’t really talk about money.
As Maya Angelou famously said, “Do the best you can until you know better. Then when you know better, do better.” Here is how you can do better:
Being open about money and sharing healthy money habits with them as early as possible will pay its dividends in the future. I always tell my wife that anything that our 3-year-old son would do or say was a direct reflection of us. The way we spoke to each other, how we treated strangers, and even how we walked. Even worse, whatever you’re not teaching them at home, they will learn elsewhere. If we want our children to succeed and understand how to build wealth, we must speak with them about financial matters early and often.
And please. Stop blaming the lack of personal finance education in schools. Albeit, I agree there should be some curriculum covered in high school. But at the end of the day, it’s our responsibility as parents to educate them about the impact of taking care of their credit score, paying themselves first, and building a savings account.
Good financial habits should begin at home. Learning at a young age will help young adults steer clear of common pitfalls.
70% of Black Americans do not have a will. Unfortunately, when we find out there isn’t a will, it’s usually too late.
Speak with your parents about their plan. Discuss how they want their estate to be handled. Encourage them to speak to an attorney and get their will executed. Not only will this give them peace of mind, but it will save you from additional headaches, as well. None of us look forward to having to settle our parents’ estates, but at least if you have the conversation, you can make sure you are aware of all their assets and their intentions of what to do with them.
On the flip side, you should also be talking to your parents about their retirement. About 41% of Americans say that they won’t be ready for retirement. Push them to plan and ensure they are on track. It becomes easier to avoid the question for most to avoid the pain of finding out if you’re behind schedule. However, avoiding a problem never solves it.
There are a few reasons why it’s vital for couples that manage their finances jointly should have frequent conversations around money. The lowest hanging fruit on that reason tree is to ensure your goals are aligned. The attitudes toward spending and saving can differ drastically between two partners, and that’s okay. If both of you are on the same page with your financial goals, then naturally both of your habits would align to reach the common goal.
It’s not unusual for one spouse to handle the family’s finances. I’m a firm believer in the division of labor in the household, and if one partner is savvier than the other, then I’m all for it. But just because one partner handles the money, it doesn’t mean the other shouldn’t be in tune with the big picture.
Where and how do we access our savings and investment accounts? Who do we have our life insurance through? Do we even have life insurance? What happens if we get sued? What happens if one of us gets sick? Who gets the kids if we both die prematurely? These questions should be discussed and implemented through a proper financial plan and executed Will.
Talking about money with your friends doesn’t have to be taboo. You don’t even have to talk abouthow muchyou’re making (although studies show that transparency in compensation leads to more equal pay across the board). Discussing financial goals and aspirations with your peers will help you feel less alone. Folks don’t hesitate to discuss pop culture, sports, or even personal details of their love lives. Why do we always leave money at the bottom of the list?
Are you talking about personal finances within your circles? What are your friends doing financially that you can incorporate into your own household? What are some mistakes you’ve made that you can help your friends avoid?
We shouldn’t only talk about our wins, we should also talk about our failures. That way you’re not only learning from your own mistakes.
Similarly, don’t WebMD your financial plan. Financial advice shouldn’t come from internet articles. Please, avoid the financial gurus and prophets of social media. Make sure the person you’re speaking with has the credentials to talk about real financial planning.
Watch out for the glorified salesman, and always seek professional advice and guidance to ensure that you are making the best decisions for yourself and your family.
Disclosures: Zoe Financial, Inc. ("Zoe Financial") is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. Zoe Financial provides investment advisory services and access to independent registered investment advisers through its platform. The information provided by Zoe Financial is for educational and informational purposes only and should not be construed as personalized investment advice or as an offer to buy or sell any security. All investments involve risk, including possible loss of principal. Past performance is not indicative of future results. Clients should consult with their own financial, tax, or legal professionals before making any investment decisions. The material presented by Zoe Financial is for informational purposes only and is not intended to serve as a substitute for personalized investment advice or as a recommendation or solicitation of any particular security, strategy, or investment product. Material presented has been gathered from sources believed to be reliable, however Adviser cannot guarantee the accuracy or completeness of such information, and certain information presented here may have been condensed or summarized from its original source. Past performance is no guarantee of future results. Zoe Financial does not provide legal or tax advice, and nothing contained in these materials should be taken as legal or tax advice. SEC Registration does not constitute an endorsement of Zoe Financial by the SEC nor does it indicate that Zoe Financial has attained a particular level of skill or ability. The sole purpose of this material is to inform, and it in no way is intended to be an offer or solicitation to purchase or sell any security, other investment or service, or to attract any funds or deposits. Investments mentioned may not be appropriate for all clients. Before making any investment, each investor should carefully consider the risks associated with the investment, as discussed in the applicable offering memorandum, and make a determination based upon their own particular circumstances, that the investment is consistent with their investment objectives and risk tolerance. Lower expenses do not guarantee better investment performance. Certain information contained herein may constitute forward-looking statements. Due to various risks and uncertainties, actual events, results or the performance of a fund may differ materially from those reflected or contemplated in such forward-looking statements.
Disclosure: This page is not investment advice and should not be relied on for such advice or as a substitute for consultation with professional accounting, tax, legal or financial advisors. The observations of industry trends should not be read as recommendations for stocks or sectors.
Investment advisory services are provided by Zoe Financial, Inc. (Zoe Financial), an investment adviser registered with the U.S. Securities and Exchange Commission (SEC). Registration does not imply a certain level of skill or training. Learn more about Zoe Financial on the SEC’s Investment Adviser Public Disclosure website. Brokerage services are provided by Zoe Securities LLC and Apex Clearing Corporation, members of the Financial Industry Regulatory Authority Inc. (FINRA) and Securities Investor Protection Corporation (SIPC). Learn more about Zoe Securities and Apex on FINRA’s BrokerCheck website.
The information in the visuals above is for illustrative purposes only and does not represent an actual user's account, balance, or return. Zoe Financial does not provide tax or legal advice.
Explore the Zoe Wealth Platform with AI
Some of this content may have been generated with the assistance of AI. Please review and sense-check all outputs, as AI tools can occasionally produce incomplete or inaccurate information.
In certain situations, you may be required to disclose that the content was “generated by AI.” Please confirm any specific disclosure or labelling requirements with Compliance.
(646) 680-9244
support@zoefin.com
666 Third Ave, 6th Floor
New York, NY, 10017
Copyright © 2026 Zoe Financial, Inc. | All rights reserved
Find an Advisor
Retirement Planning
Disclosure: This page is not investment advice and should not be relied on for such advice or as a substitute for consultation with professional accounting, tax, legal or financial advisors. The observations of industry trends should not be read as recommendations for stocks or sectors.
Investment advisory services are provided by Zoe Financial, Inc. (Zoe Financial), an investment adviser registered with the U.S. Securities and Exchange Commission (SEC). Registration does not imply a certain level of skill or training. Learn more about Zoe Financial on the SEC’s Investment Adviser Public Disclosure website. Brokerage services are provided by Zoe Securities LLC and Apex Clearing Corporation, members of the Financial Industry Regulatory Authority Inc. (FINRA) and Securities Investor Protection Corporation (SIPC). Learn more about Zoe Securities and Apex on FINRA’s BrokerCheck website.
The information in the visuals above is for illustrative purposes only and does not represent an actual user's account, balance, or return. Zoe Financial does not provide tax or legal advice.
Explore the Zoe Wealth Platform with AI
Some of this content may have been generated with the assistance of AI. Please review and sense-check all outputs, as AI tools can occasionally produce incomplete or inaccurate information.
In certain situations, you may be required to disclose that the content was “generated by AI.” Please confirm any specific disclosure or labelling requirements with Compliance.
(646) 680-9244
support@zoefin.com
666 Third Ave, 6th Floor
New York, NY, 10017
Copyright © 2026 Zoe Financial, Inc. | All rights reserved
Find an Advisor
Retirement Planning
Disclosure: This page is not investment advice and should not be relied on for such advice or as a substitute for consultation with professional accounting, tax, legal or financial advisors. The observations of industry trends should not be read as recommendations for stocks or sectors.
Investment advisory services are provided by Zoe Financial, Inc. (Zoe Financial), an investment adviser registered with the U.S. Securities and Exchange Commission (SEC). Registration does not imply a certain level of skill or training. Learn more about Zoe Financial on the SEC’s Investment Adviser Public Disclosure website. Brokerage services are provided by Zoe Securities LLC and Apex Clearing Corporation, members of the Financial Industry Regulatory Authority Inc. (FINRA) and Securities Investor Protection Corporation (SIPC). Learn more about Zoe Securities and Apex on FINRA’s BrokerCheck website.
The information in the visuals above is for illustrative purposes only and does not represent an actual user's account, balance, or return. Zoe Financial does not provide tax or legal advice.
Explore the Zoe Wealth Platform with AI
Some of this content may have been generated with the assistance of AI. Please review and sense-check all outputs, as AI tools can occasionally produce incomplete or inaccurate information.
In certain situations, you may be required to disclose that the content was “generated by AI.” Please confirm any specific disclosure or labelling requirements with Compliance.
(646) 680-9244
support@zoefin.com
666 Third Ave, 6th Floor
New York, NY, 10017
Copyright © 2025 Zoe Financial, Inc. | All rights reserved
