Visibility, Voice, and Value: A Conversation with Jonathan Lovitz

Episode 47: Audio automatically transcribed by Sonix

Episode 47: this mp3 audio file was automatically transcribed by Sonix with the best speech-to-text algorithms. This transcript may contain errors.

Speaker1:
Any examples used are for illustrative purposes only, and do not take into account your particular investment objectives, financial situation or needs and may not be suitable for all investors. It is not intended to predict the performance of any specific investment, and is not a solicitation or recommendation of any investment strategy.

Speaker2:
Welcome to Take Pride in Retirement, the podcast dedicated to helping members of the LGBTQ+ community protect and grow their hard earned money. Get set for a show full of education and insights with your host and advisor, Matt McClure. We recognize every family is unique. The goal of the show is to help you achieve financial freedom so you and your loved ones can have the retirement you've always dreamed of, a retirement you can take pride in, no matter who you are, where you're from, or who you love. So now let's start the show. Here's Matt McClure.

Speaker1:
Hello there, and welcome to another edition of Take Pride in Retirement. I'm Matt McClure, your host, your advisor, your friend, your pal and your confidant. Very glad that you could join me here for this edition of the show, which is going to be a great one if you're joining for the first time. Or just as a reminder here, I am a licensed financial advisor and fiduciary here to help the LGBTQ plus community folks just like you take control of your financial future. You know, the whole reason that the show exists is because retirement planning can really feel overwhelming, but you don't have to figure it out alone. And on this show, we break it down step by step so that you can retire with confidence, security and pride. That is what it is all about. And also what it is about is about getting out the word that if you feel overwhelmed, if you feel like you are going it alone, if you feel like you're behind with your financial plan or with your retirement plan, with your investments, then right now is a great time to reach out, especially given the volatility we've seen in the markets lately, especially given this sort of unknown nature of what the future holds always. But I feel like especially right now for a lot of folks, they're just really concerned about what they've seen in the markets, what they've seen in the economy. And, you know, a lot of economists have predicted the chance of a recession going up in the future.

Speaker1:
And so if you want to protect what you already have and still get growth, despite whatever happens in the markets or in the economy, then I encourage you to reach out because, you know, on this show, yeah, I speak as a financial advisor because that's what I am. But I cannot give you fiduciary advice. You know, fiduciary advice is what's best for you, right? It's not what's best for me. It's specific to you and your situation. And so to give you fiduciary advice, obviously I have to, you know, meet with you Get to know you a little bit, and also get to take a deep dive into your financial situation. I can do that. And it's absolutely free of any cost and any obligation to continue on. Hey, if you just if you decide you don't like my advice or if you don't like me for whatever reason, or if you just, you know, say, oh, you wore that, you wore that green shirt and I hate green, something like that. You know, you can, uh, no obligation there to continue on regardless of the reason that you don't want to continue on. But I hope that you do, because I feel like, um, we could work together and we could probably work together. Well, uh, of course, once we get to know each other and we figure that out.

Speaker1:
But if you don't. No pressure or anything like that. Okay? So give me a call. 85524692118552469211. You can also go to the website. Take pride in retirement. Com take pride in retirement.com. Of course that's all one word at the top of the screen. There you will see a button at the very top right hand corner there that says schedule a consultation, and that is where you can go to schedule a consultation. That makes sense, right? But that's that free consultation that I'm talking about. And actually that link takes you directly into my calendar where you can book an appointment that is virtual if you would like. You can book an appointment that's in person. If you happen to be in the metro Atlanta area. I would love to meet with you. In what? We've got a couple of offices, actually. There's one up in Alpharetta. There's also one in Midtown Atlanta, which is my primary office that I work out of. So if you are in any of those places. Hey. Yeah, sure. Absolutely. Would love to meet with you in person. So just let me know that when you book with me as well. So yeah, a lot of ways to get in touch and a lot of things to find online as well, other than just, you know, going to the website to schedule a consultation. I've got all of the past episodes of the show, almost up to 50 episodes of Take Pride in Retirement now, which is great.

Speaker1:
That'll be a great milestone here before long. Also have a lot of great insights and information there just into the show and its background and myself and my background and my sort of life situation and what led me to where I am and why. I talk about the things that I talk about all the time here on the show. So all that is at the website. Take Pride in retirement.com search for Take Pride in Retirement on YouTube, on Facebook, on Instagram, on threads, anywhere you are, and also subscribe wherever you get your podcasts. Leave us a great rating. I would really love if that was the case. Also, spread the word. All right, well, um, coming up on today's show, I have just an absolutely wonderful guest that I'm going to bring on here, just momentarily. Um, I am I'm super excited to talk to him. His name is Jonathan Lovitz. And no, I'm not talking about Jon Lovitz, who used to be on Saturday Night Live and was in the City Slickers movies and all that. No, not that John Lovett, this is Jonathan Lovett, who I have known for a few years, going back to my time in New York City. But he is someone that I've wanted to have on the show for a while, and the opportunity arose here this week, and so I'm so glad to have him on.

Speaker1:
He is such an advocate for the LGBTQ plus community and really not just, you know, in the words that he says, but in the things that he does. I mean, he's worked in economic development, public policy, community advocacy, dedicated to really helping governments, corporations and nonprofits build stronger and more inclusive economies. Um, he most recently served in the Biden administration at the US Department of Commerce. He was part of the senior leadership team at the US Economic Development Administration. He also previously served as the senior vice president and special advisor at the National LGBT Chamber of Commerce, and did a lot of wonderful work and advocacy there for LGBTQ+ people and LGBTQ+ owned businesses as well. So I'm really excited to get his insights about financially. Um, you know, given his work in the in the government especially, like what we can do kind of in this moment that seems so uncertain for so many people and, um, love to get his, you know, expert opinion on that and on so much more. So yeah, we're we're going to talk about a lot of different things. And I'm going to bring Jonathan on here in just a few seconds. Literally just a few seconds. That's going to be the bulk of the show today. But first let's get some inspiration for our conversations today, shall we? We'll do that with our quote of the week.

Speaker3:
And now for some financial wisdom. It's time for the quote of the week in.

Speaker1:
This week's quote comes from the winner of season seven of RuPaul's Drag Race. Yes. Words of wisdom from a famous drag queen I love it. And it goes right hand in hand with conversation that I had today with Jonathan Lovitz. Actually, Violet Chachki said this. Your comfort zone is your enemy. Your comfort zone is your enemy. Wise words in just a few words there from Violet Chachki. Um, and at Lantern as well. Uh, kind of like me. And so, yeah. No, it really is true, though sometimes you have to break out of that comfort zone, right? To actually make progress really all the time. You kind of have to, to make progress, break out of your comfort zone, do things that kind of freak you out a little bit, take a chance. Sometimes, um, I feel like I'm going to break into a song by ABBA. Take a chance. But no, it really is true that you have to break out of your comfort zone. Whether your comfort zone is, you know, I go to work 9 to 5 every day, Monday through Friday. And then, you know, I come home and I, you know, collect my paycheck every couple of weeks. And then I go out and I spend it on my groceries or whatever, and I don't and, you know, going to the movies and doing this, that and the other. And I don't really have a plan for what I'm going to do with any savings, because I don't really have any savings because I just spend the money as it comes in. You know, that kind of thing, whether that's your comfort zone, stepping outside of that comfort zone would be, yeah, actually taking the time to sit down and come up with a plan for your future and for your retirement.

Speaker1:
Right. And so that's what I would love to help you do. 85524692 11 or take pride in retirement.com. I would love to help you do that. But you know, also anywhere in life, stepping outside of the comfort zone is always a positive experience. Whether it whether you know, and it's I'm not saying that because you step out of your comfort zone, you're always going to succeed at something. But at the same time, if you don't succeed at whatever you step out of your comfort zone to do, then you learn and you grow from that. I feel like in my life, especially the failures of of which I have had many, are the places where I have learned the best lessons. Sometimes you got to learn things the hard way, and I feel like that's the best way to do it, really, is to learn from your own mistakes. And so step outside that comfort zone and you will go forward. You will grow no matter what. And of course, I would encourage you to step out of your comfort zone when it comes to your money and when it comes to your retirement plan and planning for your future. I am very happy now to welcome in Jonathan Lovitz to the show. Jonathan, thank you so much for doing this. I really appreciate it so much.

Speaker4:
Uh, great to be with you, man. Hi to everybody watching. Uh, it's a real privilege. Thank you.

Speaker1:
It's a great privilege to have you on. And, you know, I mean, you have done so much as far as advocacy for the LGBTQ plus community working in and out of government on behalf of the LGBTQ plus community, um, especially in business, working for the Nglcc, the National LGBT Chamber of Commerce, also within the Commerce Department during the during the Biden administration. So it's great to have your insights and and knowledge here. And, you know, given that sort of impressive career and impressive resume that I've only partially run down there. Um, talk about how your journey sort of led you to be a champion for economic empowerment for LGBTQ plus folks.

Speaker4:
Oh, well, thanks, man. That's very, very kind. I am the luckiest person. I've joked for years that I am so fortunate to make my day job and my gay job the same thing for so long. Uh, you know, look, we we are all privileged to have identities that help define who we are. But sometimes those identities also define what we do. Um, and I am really lucky that in my career, which began in, uh, entertainment and media, uh, progressed simply by being out and vocal about things that I care about, uh, To be able to turn that into a full fledged career in communications, political advocacy, Dei work, you name it, in support of not just LGBTQ people. But one of my favorite things about this work is that I get to remind everyone every day. We are women. We are people of color. We are veterans. We are immigrants. There is no such thing as a fight, particularly in America right now, that doesn't immediately intersect with LGBTQ people. So making sure that our voices are heard and as you said, our economic strength is respected is invaluable in moving us forward. I've been in, in, in advocacy, particularly on the economic side, for nearly 20 years. And if there's one thing I've learned, it's that red or blue, everybody sees green, and it's the quickest way to get to strength for the pink.

Speaker1:
That's right. I love that. I absolutely love that because it's true. I mean, you know, there are so many. And this was, you know, sort of a recurring theme during the campaign on the side that did not win the campaign, but that there is so much more. We have so much more in common than the things that divide us. And I think that's so important to emphasize right now, especially since things are kind of going the way that they are going on an administrative standpoint in the federal government. I mean, you know, I assume you would agree with that.

Speaker4:
I would and I, you know, and I think as we saw, whether it was the Equality Act or other pieces of civil rights legislation, uh, moments like this not only underscore how much we have in common, but also bring some of the best collaborations. And you know what some might consider strange bedfellows together? Uh, because so many of us have seen these fights before, we know how to win. We know the winning playbook, and we're willing to share that with our partners. Because especially right now, if they're coming for us on a Monday, they're coming for another community on Tuesday and another community on Thursday. So either we link arms and fight for a common good, uh, or we give up. Those are the two options.

Speaker1:
Yeah. And I feel like I saw, I don't know if it was a meme or something the other day that sort of alluded to that same kind of concept that, you know, okay, it's like we've taken care of these people now who's next? You know, and it's just like there's always somebody next on the list. And, you know, that being said, a lot of LGBTQ plus people and I know that this is something that I've experienced in my life previously. Thankfully not now. Um, with my job, my position and my my many different roles here. But a lot of LGBTQ plus people face unique challenges in the workplace. They face unique financial challenges due to things like workplace discrimination, um, wage gaps that are still there. They're still a thing. They haven't gone away. Um, lack of generational wealth a lot of times as well. Um, what are some maybe policies or initiatives that you think could help, maybe close some of those gaps and, and really help, um, you know, just LGBTQ plus people, um, really and truly just catch up to everybody else, by and large.

Speaker4:
Well, it's a great question. And I think one that speaks to, you know, we take such pride in our solidarity and our visibility in so many ways in the community, whether it's the visible demonstration of, you know, pride flags in public spaces or just identifying who we are with our teams and our staff. Um, but I think, honestly, one of the most powerful lessons from all of that is if you wouldn't hide one place, don't hide anywhere. And that includes in the economy. We have tremendous power right now, both as consumers, to use our dollars in the way that we would use our vote at the ballot box and on any other year, and we're seeing that play out as some companies stocks are plummeting while others are soaring. We saw that recently when we were reminded that not all chicken nuggets taste the same. Some taste like they hate you. So why would you give your hard earned money to use it to? To give it to a company that's going to use it to harm you and people you care about. And it's never been easier to spend smartly and spend effectively by checking things, whether it's the HRC Corporate Equality Index or its parallel index from other organizations that support women and veterans and people of color, etc.. But to your point about cultivating our generational wealth and using it for good the way so many other communities do, you know, we're playing catch up, but we are as as we always do as LGBTQ people doing it with, uh, I think rockets on our roller skates because we are not just playing catch up.

Speaker4:
We are, in fact, moving entire industries and models forward as it comes to things like wealth development, insurance, long term planning, whatever it might be, because we're demanding one parity with other communities, but also a recognition that some of our own struggles and idiosyncrasies in building capital, uh, are unique to us just being queer people. Um, and that's why I think there are tremendous opportunities at companies to keep elevating, uh, inclusive opportunities to meet with um, lenders or advisors or whoever they might be that speak to you from your community. You know, you don't need a gay financial advisor to make your money any more secure. But when you have that initial meeting and you have to have some frank conversations about health and family and babies and all these things, speaking to someone who gets it can already take so much pressure off and help you get to a much better place. Uh, and I think that's true of really anywhere we put our money or our time, which is, quite frankly, I think our most valuable investment that we have. We are a reflection of what we do. And if you're using your money or your skills or your network, whatever it might be, to push advocacy, to push for candidates, to push for just a good way of life for you and your family. That is a way of using economic advocacy in a just as powerful a way as marching in the streets.

Speaker1:
Yeah, it really, it really can be. And that's the thing I think people there are a lot of different ways that that you can advocate that you can, you know, make your voice heard. And as you said there, your your dollar where you spend your dollar is a very powerful way to do that. Especially, you know, we live in a in a capitalist system. And so that is just, you know, kind of capitalism 101 is, you know, where you spend your money matters basically. And so that that really is um, really huge. And one of the things that that I just sort of wanted to ask as well, kind of related to that and related to corporate America right now, is we've seen this landscape of so many corporations, um, under this new administration, pulling back on Dei programs, pulling back on, um, you know, things that have been in place. These are not new initiatives. These are not things that just, you know, somebody to, to use a phrase and I guess, pun intended here. Woke up one day and and started these are initiatives that, I mean, I remember when I was in high school and you know, I'm in my 40s when I was in high school and I had a summer job we did there was like a dei, like a, like celebrating our diversity course that we all had to take. And this was in the mid 90s. So, like, it's not a new thing. Why do you think so many corporations are capitulating to the current, um, thing that's happening in DC. And what do you think are some things that maybe people can do? Obviously, spending your money in one place rather than another is one of them. But is there anything else that we can do to to advocate for specifically things like diversity, equity and inclusion?

Speaker4:
Well, let's be really clear about what those attacks are. They are it is easier to make people afraid than it is to make good policy. And so while you're distracting people with lies about people taking your jobs because of who they are or what they look like, uh, you are actively working to dismantle things like Social Security and other safety nets that everyone in the country, uh, cares about. But it's easy to keep you distracted when you're worried about that one trans person who's going to steal your job. Uh, which I think one of the best things we've heard lately is that there are more kids who have measles in red states than there are trans athletes in the entire NCAA. Aa. So being able to keep scale about what is being said about us versus what is really happening is, I think one of the things that we all as advocates, as just people existing in sort of this confine right now, have to be very vocal about. Um, Dei programs have been given a target because it's easy to do. Uh, you you don't know the people who are behind it. You just know that the sign on their office door. And so by othering them, it's reverting back to, you know, the other side's playbook for how we got around marriage equality. They were trying to say, you know, these other people want something special and weird and gross and different as opposed to the way that we won, which was your fellow American, your family member, your friend, your kid's teacher just wants the same life that you have.

Speaker4:
And why would that be strange to ask for? Um, and when you remove sort of the otherness from other people, we get back to a place of yes and get back to a place of collaboration. And I think these companies are really reckoning with are, as you said, you know, is the training module or the webinar or the once yearly town hall on diversity actually doing us anything, or is actual programmatic work policy shifting going to matter? I have my own consultancy, and I encourage a lot of LGBTQ people out there. If you've got a voice and you've got skills you believe in, start something. It's the best way to get yourself out there and get it certified as an LGBT owned company. And one of the ways that that really benefits you is being able to get your foot in the door with these places to say, hey, I can help you get the target off your back while not compromising what you stand for as a company. To your point, since many of these companies began adopting inclusive policies policies in the 60s. And so, you know, 60 years later is not the time to blow them up, it's the time to rethink them. And some of these companies that I've been advising have been saying, look, we let's say it's a $250,000 spend to march in Atlanta pride. Uh, and I said, if you have to choose between putting your logo out there and being a target at pride, or putting that $250,000 towards scholarships for young people, or make sure you're making sure your healthcare plans are inclusive of prep and transition services, or whatever it might be.

Speaker4:
Spend the money there. The actual policy implications of that are much more beneficial for attracting, retaining, and growing your best talent and keeping them safe, healthy and alive than necessarily seeing you in the pride parade. That is well and good, but your employees can still march. Your community will still be there to fill the void. We need you to do what you do best, which is run a great business. And part of that is being cognizant of the lessons that you're supposedly in the white House and other places here in Washington were being governed by experts in business. Well, they're ignoring the lessons of the last 50 years of business, which is diversity is good for every single aspect of your business and the economy. And that turning your back on communities not only hurts you internally, but is absolutely disastrous to you in the marketplace. We're looking at you target. So we we we as community, we as LGBT people in our community and our allies have a very long memory. We remember those who take the strong pivot and do better, uh, in a beautifully, you know, inclusive and welcoming light, i.e. Barilla and some of these companies that have had a total 180, but even more so, we remember the people who had, you know, swore they had our back in March, but are nowhere to be found in June. Um, and I think, you know, again, not only is this important to LGBT people, but everyone's watching this. Uh, you know, our allies have just as much skin in this game, because, again, if you're kind of out, uh, remove your policies towards LGBTQ protections one day, your workplace benefits for women and their, uh, financial parity are going to be gone by Thursday.

Speaker4:
And, you know, the Dei office, the boogeyman on the on that floor that that was, you know, ripping up resumes of straight white guys, uh, or so people think is actually the people who make sure that your wheelchair can get into the building are the people who make sure that, you know, I think about a case in point that the Commerce Department, where the secretary asked for ideas in an LGBTQ roundtable to make things more inclusive, and a trans member of our staff said, you know, we have 300 bathrooms in this building and none of them are single gender. Um, and she said, well, that's amazing. I'm so glad you told me that because I pee in my office. So had I not had the workers perspective of the other bathrooms that you use, I wouldn't know what to do. And what that also led to was a very frank discussion of, you know, a single gender, single occupancy bathroom isn't just for trans people. That's for a guy like me who has anxiety attacks in the middle of the day and just needs a place to go. A lactating mother, someone with a disability who might need a little privacy or safe space to do what they need to do. So that's equity is making a change that actually lifts everybody and not just a targeted group.

Speaker1:
Yeah. And that's the that's the thing is, you know, one of the lessons that I have learned over the years, um, as a, as a gay man is, is the difference between equality and equity. Equity is realizing that not everybody starts off in the same place with the same, you know, privileges and, and all of the things. So getting lifting people up who aren't at that same starting point, just to that starting point, just so that everybody then can, you know, have an equal shot at, at life. That's really what equity is all about. And just the very basic terms of it. Yeah. And I mean, it's it's a great. And speaking of lessons learned, what you had just said made me think about something else as well. I mean, you know, we've got a generation now of young LGBTQ plus folks who have been who have grown up really with a lot of social acceptance out there, who have grown up in an environment where, you know, Obergefell, the marriage equality decision is now almost ten years old. And so for most of their lives, these young people's lives, marriage equality has been a thing. And I sort of can't imagine that in my own life. Like what the like the majority of my life having been where LGBTQ plus equality was more prominent in society. Um, but I think that sort of to, to see the, the silver lining, I guess, around a really big dark cloud right now. For me, anyway, is to be like, oh, well, maybe this brings out the fight in that generation and says that, oh yeah, you know, we we do have something to fight for. This fight is not over. And these rights are rights that could be taken away at any point in time. I mean, it's it's so important. Like I, you know, we grow up, grew up in an era where marriage equality wasn't even thought of as a possibility. And so now this new generation, I feel like they maybe maybe it lights a fire a little bit, right?

Speaker4:
You're absolutely right. And I think one of the great things that that particularly younger workers and members of the community have is they have found their as to many of us had to do, uh, finding community the analog way. Uh, they have never had it easier to find each other and to find resources and healthcare and access. But they to your point, I think, are missing the fact that that can be turned off at any moment. Um, and I again is is why in teaching our history is so important, where corporate ergs do such an important role in helping bring in speakers and such that can speak to history and collective power, because they lose sight of the fact that we landed on the moon in 1969, the same year Stonewall happened. That's still three years before the American Medical Association said, gay men like you and me are not mentally defective. That's five full years before a woman can get a credit card without a husband. And as someone who just served openly in a presidential administration as a gay man, I was in high school before the laws that said I could have a security clearance or should not have a security clearance were repealed. And in fact, in the Biden administration, we had a celebration of our LGBT appointees in the Eisenhower building, which was an amazing piece of irony, to be here out proud and celebrating in a building named for the man who signed the lavender scare laws and said none of us should be here at all. So keeping that sense of history is so important, and also being aware that we're shaping a future now too, and that we have obligations, especially to those of us, uh, in our 40s and all, like we are and above, who realize we lost an entire generation of mentors who were supposed to be here. So not only are we having to step up, we're having to remind the entire generation after us just what they have now and how precious that is that, you know, laws for equality are written on tissue paper. Uh, and the real difference is how they're applied and protected.

Speaker1:
Yeah. It's so, so important. And those are, you know, lessons that I think, um, a lot of us are learning in real time that these days it's so, so important to keep that in mind. And, you know, we talk about history. It's very, very recent history, but we also need to keep our eyes on the future as well. And and speaking of future, you know, everybody is, you know, hopefully going to be at a point where they can retire someday. Of course, the show is take pride in retirement. Um, and so, you know, I know that you have worked a lot with LGBTQ plus small businesses and small business owners, and, um, you've advocated for them, as we've been saying, quite a bit for a couple of decades now. So that's obviously been very important work. What in that work have you found maybe are some key sort of financial and retirement planning steps that entrepreneurs should take, you know, even early on in their careers? I think, you know, I often talk about when I, when I talk about, um, retirement planning with my, my clients, when I talk about retirement planning, just in general for educational purposes on the show, I sort of use the analogy of when's the best time to plant a tree 100 years ago. When's the second best time to plant a tree? Now, you know, So starting as early as possible is a good thing. But what are some things that that those entrepreneurs should be doing either right now or, you know, several years ago if they could go back in time?

Speaker4:
I mean, you're spot on about the tree analogy, and I use that myself. I think that is so important for people to realize the best day to begin investing in yourself is day one. And and I think particularly as LGBTQ people, we are inherently entrepreneurial because we've had to be the entrepreneurs of our own lives from day one. We've had to know, we've had to weigh risk. We've had to weigh reward. We've had to weigh strategic partnerships. Will they be safe for us, etc. and those as true in our social as they are professional lives. And so applying those same lessons to your business, to your financial future is, is incredibly important. I think about my own journey, um, pre and post being married and the conversations I had with financial advisors and planners where, you know, you have to be very real about, are you planning to pass on a business? Are you planning to have kids? Are you planning to leave? You know, uh, bequests behind, helping know what you want to achieve in the future sets you up for great planning and success right now, and also lets you set up how flexible and risk averse or not, you're going to be in both saving and spending over the next few years. Um, one of the things that I think is also phenomenally fascinating about this moment we're in is you mentioned succession planning earlier.

Speaker4:
That's a concept our community never had until just a few years ago, where the first generation of LGBTQ business owners is now passing their business on to potentially their LGBTQ children or senior workers or whatever it might be. And that takes the same kind of logistics and financial planning that any other business owner and any other community would need with the added, uh, pressures and potentially benefits of the unique resources and opportunities that are out there just for diverse businesses and entrepreneurs like ourselves, to be able to leverage capital and connections in our own community. No one looks out for us better than we do. So building that network, not just of advisors and guides and mentors, but also of people that can be opportunity models and role models for you personally and professionally can be tremendously beneficial to your financial future. Future? Excuse me. Uh, being able to tie you know, I think LGBTQ people are also uniquely, uh, aware of that, that sort of concept of of the thing you're good at, the thing you care about and the thing that you do. Well, uh, all being, uh, overlapping at the same time.

Speaker4:
You know, we're able to seek out those opportunities because of some of our flexibility and our determination to succeed in the face of adversity. Uh, that allows us to fall into things that matter more to us than maybe they do to preconceived notions of what success looks like. So I encourage everyone out there to not only invest in themselves, but if possible, you know, invest in the greater ecosystem for our community that our venture capital funds just for LGBTQ people, like, uh, like those at, um, the Angels network and through the Startout network and others. But even just being pure advisors to one another, you know, growing up, Matt, you and I had very few role models that weren't, uh, you know, Will and Will and Jack on TV. Right now we've got CEOs and cabinet members and military leaders and, uh, Oscar winners and everyone in between to show us different paths. But we also have one another as corporate executives, as people working up their ladder as public servants to show you that anything is possible. And when you are able to leverage the fact that any opportunity is possible to us, that also means any financial future is possible. If you plan right and plan with the right partner.

Speaker1:
Yeah, that's very, very true. And, you know, I think just such again, one of those important lessons that that we all need to need to learn as we as we go forward. Because, you know, I mean, it's, it's something that at least I know in my life from a, from a financial standpoint, I grew up, you know, right smack dab in the, you know, kind of, I guess, lower half of the middle class probably. You know, my dad worked in a factory. My mom was before she retired was a beautician and a hairdresser, as we called them back in the day, um, and owned her own shop. She was she was an entrepreneur. She owned her own shop. So that, you know, I had that sort of, um, you know, upbringing or I guess, influence around me as I was growing up. But, you know, aside from that, like in school and everything, I didn't really learn a lot at all about finances, or even how to balance a checkbook or write a check back in the day. Now we don't even use checks, really, except on very rare occasions. But you know, things, things like that that I think could really be. Um, so, so helpful and, and, you know, could have set a lot of people up for better success, no matter who you are. Um, and that's my sort of my, my spiel on the show each week is no matter who you are or where you come from or who you love, how you identify or how much money you have, you know you deserve to have a retirement you can take pride in. And that's why the show is is named what the show is. Um, and so I think that's so, so important. Um, and just just a few other.

Speaker4:
Element on that mat, too, if I may.

Speaker1:
Oh, sure.

Speaker4:
Something that needs to be said over and over again to remind folks, sort of our obligation as we move up the ladder, both as a community and as individuals, is to throw that, throw the ladder down, to pull others up with you. Um, one of the most important things have happened in my time. Working at the Chamber of Commerce and in LGBT economic spaces was helping to close the under banking and financial illiteracy gap that exists out there. You know, again, talking about the sort of difference between equality and equity. Sure. Uh, yes. All of us may be able to walk into a bank branch, but there is no federal credit protection for LGBTQ people stopping a bank owner in the Deep South or in the Midwest to say, we don't need to bank your kind. Um, and knowing that there are not only ways to push back against that, but also ways to be planning with those who proactively have your back. The banks, the cdfis, the community groups who want to work with people from their first, you know, uh, from their first minimum wage paycheck to their last cash out of their 401 K and everything in between to help them understand what just saving a small percentage every month can do for you as a cushion. What being able to invest in index funds that support our community can do for the greater good. That your dollar is so powerful. But most of us have no sense, especially early in our careers, just what to do.

Speaker4:
Um, and again, you know, one of our secret weapons, I think, in the fight is that particularly for many of us, like you and me, cisgendered white guys and a shirt and tie that can walk into just about any room and take a seat means we have an obligation when we look left and look right and see no one like you and no one like the rest of our community represented, saying, what are we doing for them? Why am I the token representative here? When the majority of the people were looking out for, particularly in the financial space, are racial minority under 30 and have minimal access to resources, and yet none of them are here to hear about the incredible work that we're doing in those spaces. So all of us have an obligation, whether it's using LinkedIn and social media or whatever it might be, being active in our ERGs and then taking that information out to our communities, solving that last mile problem, that these resources to help grow wealth and success in our community, at whatever scale you want to achieve, are out there. But finding them in New York City and San Francisco is quite different than trying to find them in Tupelo, Mississippi. And yet we are able to meet virtually like this, which means a inclusive, welcoming, knowledgeable support system is out there. One click away.

Speaker1:
Yeah, it really is. I mean, you know, that's one of the things that I feel like is speaking of, you know, I was talking about earlier, little silver lining around the big dark cloud. Well, during Covid, this is, I think, you know, the rise of virtual meetings and things like that. That was one of the silver linings around that big dark cloud. Because, you know, now we have technology like the one that we're using today, um, to really help people connect in a much easier way and in a much, you know, more personal way than before. And, um, yeah, I think it's it's that's been something that has been, you know, fantastic to just help people, you know, have closer and easier access to resources no matter where they might be in life. And really, speaking of that, I mean, are there any resources out there that you would recommend maybe for those LGBTQ plus entrepreneurs or small business owners, people who might want to start a business, um, to kind of ensure their, you know, financial stability and their and their long term success. What are some things out there that you might recommend to them?

Speaker4:
Well, on a on an immediate, practical level, you know, seek help from the experts. You've got start out, you've got nglcc, you've got angels, you've got so many networks now focused on economic health, because that really is one of the most powerful tools we have, not only to fight back against the erosion of our own rights, but to build a future where we can fight for newer, stronger ones for us and everyone else. But also, in this day and age, even with the attacks on Dei and corporate, etc., you're seeing particularly the financial institutions, the big banks lean in and saying, you know, just on the grounds, you know, of good CFO advice. We are not cutting out 15% of the American population just because somebody doesn't like them. That's just bad business. Add to that, it's even better when the entire national spectrum of businesses and communities is represented for the diversity of ideas, to invest in the diversity of talent that we can potentially be hiring and sharing with one another. So do your homework. Look at the big banks, look at the large insurance companies. Look at those who have had our back in the past and look at what they're doing today through the various indexes that are out there.

Speaker4:
And the websites that you can visit to see, you know, is putting your money in the hands of an ally going to have real returns for you and our community, or is it just lip service and, you know, real point of pride we should take in 2025 versus 1995 is that everyone wants a piece of the LGBTQ dollar where 917 plus billion dollars in consumer power, but we're almost $2 trillion in GDP power as business owners and entrepreneurs. That is a heck of a lot of heft to throw around. And then when you find yourself potentially in a situation where you're underbanked or under-resourced and you can't get to what you need based on where you live, the internet is a big, friendly place, and there are people who can have conversations as, as sort of frank as this or as detailed as you could have with a certified financial planner who's an LGBTQ community expert and everything in between. So leverage your community probably more than you ever have right now to find the good, find the resources, and find the ways to give back. By looking out for yourself with pride, you'll be able to invest countless dividends in our community for generations.

Speaker1:
Love it. Well, just about a couple of minutes here left in our time, but I wanted to ask two quick questions just to close out. One being sort of kind of bouncing off of what you just mentioned there. You know, you've worked. You've worked very closely with government leaders, with corporate leaders, with other advocates in the LGBTQ plus community. Um, given the situation right now, what is there out there that gives you hope about LGBTQ plus economic equality going forward.

Speaker4:
This. We're talking about it. Um, they're one of my heroes and mentors, and one of the greatest leaders in the LGBTQ movement was David Mixner, who unfortunately passed away about a year ago. And if you don't know him, Google David Mixner. You'll be blown away by what he's done for all of us and for all communities in America. But one of the things that he said and was quoted several times at his beautiful funeral was, uh, the he was a devout Catholic and a gay man his whole life. And those things always seemed a bit incongruous. But the lesson he took away from that was the only sin I believe in is the sin of not doing something. And I think we as a community have to remember that, that whenever we are trying, whenever they are trying to silence us, whenever they're trying to other us or diminish us, that is our excuse to turn up the gas a little bit and flame a bit, or Shine the flame a bit brighter because we've always been here. We're always going to be here. And in this moment, it's our visibility that's going to save us, and particularly young lives who might feel lost in this moment. So, you know, it's one of the reasons I took this, this flag set on my desk in my government office. And I had people stick their heads in and go. I love seeing that. I've even had people stick their heads and go, you know, is that okay? On this moment, I said, it's okay for me. Uh, and if for nothing else, it shows somebody walking down the hallway who might be too nervous to ever put a flag on their desk, that I'm here, thriving and at the most senior level of the federal government. Uh, and you can be, too. Yeah. So whatever it is that you do in life, take pride in it. Shine brightly, and you never know whose life you're going to save simply by existing.

Speaker1:
That that's so true and so powerful. I mean, you know, you don't know the impact that you have on others just simply by being who you are and being proud of who you are, the way you are made and the way that you can, you know, have an impact on others and just, you know, maybe being a little bit more conscious of that impact, um, can just make all the difference in, in the world, really. Um, yeah. Just own it.

Speaker4:
Or own who you are. Own what? You're, you know, own the beauty of the community you're a part of. Um, and I used to say this in, in countless workshops I've done with corporations over the years where they ask, you know, what is the right model of leadership? I said, it's the one that makes a difference. I don't care if you're at the front of the parade and doing the high kicks and carrying the banner, or you're just at the back waving and showing support as an ally. The important thing is that you showed up. So whatever that is to you, your life, your future, your community. Showing up is the most important thing you can do, because if you feel deeply connected to whatever the outcome is, you'll give more. Um, but the one thing we we don't have the privilege of doing is staying quiet and staying in the shadows. Not right now. Not ever.

Speaker1:
This is very true. And just to kind of put a pin in things for this conversation, if there is one thing, one bit of, you know, financial advice or career advice that you would give to someone just starting out, whether they're an entrepreneur or whether they're just a young person trying to figure out what in the world to do with their life, their life, career wise or financially. Um, is there anything that you would give to them as far as advice? Maybe what? Just one thing to just kind of stick a pin in here at the end of this conversation.

Speaker4:
So I'll leave you with one more quote from another dear colleague who unfortunately passed too soon, Candace Waterman, who was one of the greatest allies not just for LGBTQ people, for women, for people of color, for entrepreneurs of all kinds. And one of the things that she said that is on my desk here and forever ingrained in my heart, and I think this speaks particularly true of minorities and LGBTQ people. We didn't come this far to come this far. So wherever you are in your business, wherever you are in your personal journey, you're exactly where you're supposed to be, and you're ready to take the next step forward because this is not the end of your journey. You're just getting started.

Speaker1:
That's fantastic. And I cannot think of a better way to close out this conversation. Jonathan Lovitz, thank you so much for taking time for me. I really do appreciate all of your your insights. I've loved this conversation. Um, hopefully we'll have you back sometime. Again here on the show.

Speaker4:
Would be an honor. And everyone watching. Go get em, you. We've got your back, and we're proud of you.

Speaker1:
Thank you. Absolutely. Thank you so much. Thanks, boy. Such a great conversation there. Covered a lot of ground. And once again, my thanks to Jonathan for joining me. And I really do hope to have him on once again here on the show. Hope you enjoyed it. Hope you have gotten something out of the conversation today with him. Remember folks, go to take pride in retirement.com or call 855246921185524692 11. That's the number you can call toll free. Um, just leave me a message there. Or, you know, if I pick up or if I don't pick up, I'll get right back to you. If I pick up, I will talk to you. Make an appointment right there for that free consultation to plan. Because, you know, we don't know what's going to happen. My crystal ball is broken, and my goal is to get you a plan in place. No matter who you are, where you come from, who you love, or how you identify, or how much money you have, you deserve a retirement you can take pride in. And I want to make it happen for you. Well, that's going to do it for this edition of the show. Thank you so much for being a part of things this time around, folks. I really, really do appreciate it. And I thank you for your time and for spreading the word about the show. If you do get something out of it each and every time that you listen. So until next time, take pride in yourselves and take care of each other. We'll see you then.

Speaker2:
Thanks for listening to Take Pride in Retirement. Members of the LGBTQ+ community deserve to work with the fiduciary financial advisor who puts their needs first. To schedule a free, no obligation consultation with Matt McClure and the team at Active Wealth Management, call (855) 246-9211 or go online to take pride in retirement. Dot com investment advisory services offered through Brookstone Capital Management LLC. Bcm, a registered investment Advisor, BCM and Active Wealth Management Incorporated are independent of each other. Insurance products and services are not offered through BCM, but are offered and sold through individually licensed and appointed agents.

Speaker1:
Registered investment advisors and investment advisor representatives act as fiduciaries for all of our investment management clients. We have an obligation to act in the best interest of our clients and to make full disclosures of any conflicts of interest. Please refer to our firm brochure, the Adv2 to item four for additional information.

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