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Ep. 3 - Financial Literacy is Incomplete Without Financial History

Ep. 3 - Financial Literacy is Incomplete Without Financial History

Hear from Phuong Luong, CFP®, Principal Financial Planner at Saltbox Financial on why financial history is key to full financial literacy

Gabe Rissman

“I didn’t grow up with wealth, and my friend group, a lot of people didn’t grow up with wealth either. They didn’t grow up with that level of financial literacy or financial exposure that people who do grow up with wealth or work in finance do.”

Welcome in to another episode of “YourStake, Your Story,” a podcast dedicated to telling the stories of financial advisors who lead with socially responsible and values-based investing.

Joining us today is Phuong Luong, CFP®, Principal Financial Planner at Saltbox Financial. She specializes in financial planning for individuals and families as well as sustainable investing, with a focus on ESG investing and regenerative investing in community loan funds, land trusts, and cooperatives -- to shift capital from extractive industries toward building a solidarity economy.

Before joining Saltbox, Phuong was the founder of Just Wealth, a virtual financial planning firm. She is the Chair Emeritus of the CFP® Board’s Council on Education, where she advises CFP® Board staff on the development of education standards and certification requirements for CFP® professionals. Phuong is also a Facilitator for the Boston University Financial Planning Program and a regular contributor to Morningstar, where she writes about financial planning and sustainable investing for an advisor audience.

YourStake aims to provide advisors with everything they need to understand ESG issues, analyze portfolios, and report to clients. We want to equip you with the underlying data and analysis tools to navigate ESG. The YourStake, YourStory podcast is designed to amplify voices in the financial industry who are leading the charge for socially responsible investing practices.

Each episode, we are joined by experts in the field to hear their stories about what brought them into the industry, why they are passionate about ESG and values-based investing, and much more.

Dive in to this episode to hear about:

  • Phuong’s journey to financial planning (0:50)
  • When everything came “crashing together” (9:55)
  • How not growing up with wealth shaped Phuong’s perspective (13:49)
  • Learning about financial history and economic injustice (18:31)
  • You need the big three of “Education, Access, Resources” (28:54)
  • How Phuong’s “why” drives her on a day-to-day basis (31:35)
  • The spectrum of accepting ESG investing (35:20)
  • Phuong’s thoughts on the future of ESG (46:14)

Thank you to Phuong Luong for joining us in this episode! Be sure to tune back in every other week for a new episode of YourStake, YourStory and hear another amazing voice in the industry.

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