Riqueza is Our Birthright: The Power of Personal Finance Education in the Latinx Community

Advance the Nasdaq! – our employee resource group (ERG) that explores Hispanic, Latinx and indigenous culture – is the driving force of our Hispanic heritage and Latinx efforts at Nasdaq. In honor of Hispanic Heritage Month, we’re spotlighting influencers to better understand what Latinx means to them and the role financial literacy plays in their communities.

Lea Landaverde is a first generation, Queer Latina content creator and wealth coach. He is the founder of The Riqueza Collective and host of the Mi Riqueza podcast. Lea has over seven years of experience in the financial industry in wealth management, investment banking and personal finance education. Their mission is to break the generational money curse for BIPOC & LGBTQ+ people through raw, real and transparent financial education. Lea is also an activist for Immigrants, BIPOC and LGBTQ+ rights and mental health.

Please tell us what inspired you to get started in the investment space.

My journey into finance and investing was fueled by the 2008 housing crisis where I supported my Salvadoran immigrant parents and family as they navigated the recession.

At the young age of 11, I translated late bill notices and spoke English on their behalf to make sure what they wanted to say was understood. Watching my parents navigate the financial system with no knowledge inspired me to go ahead and learn how money moves in the United States. This led me to earn a bachelor’s and master’s degree in Finance and work in the financial services industry for seven years.

What are your goals to achieve with your content and social influence?

My goal is to inspire other first generation, immigrant children and Queer Folk in my Latinx community. I want to create content that helps my community redefine what wealth is and what it is. My goal is to influence my community to be the change they want to see for their families. Be the first to open a bank account, get a credit card, save and become an investor. Riqueza is our birthright, I want it spread knowledge of personal finance so that my society can regain the strength to build the wealth of generations.

What does financial literacy mean to you?

Being financially literate means understanding your money’s path in your life. This may be different for each person, but it’s all about understanding the basics of money. For example, budgeting, saving, paying debts, building credit etc.

Financial literacy has changed the way I move money and live my life. This allowed me to work on my mindset with money and remove the lack I felt from being overwhelmed by financial decisions.

I learned that the financial journey is volatile because we cannot control life. Therefore, I live in the moment while preparing for tomorrow.

How has financial literacy affected you throughout your career trajectory?

My current career revolves around financial literacy and movement to provide real, raw and transparent financial education for marginalized communities.

Educating mi gente to ensure the next generation has more tools to navigate the financial system and create riqueza without fear.

I never thought I would become a personal finance content creator and CEO of a Financial Coaching Practice, but that passion was always there… to help my community avoid the same experiences my generation faced.

Why is it important for the next generation, and especially the Latinx community, to be financially literate?

According to Census study of population projections, it is estimated that in 2045 the US will be a white minority, and the Latinx population will make up 24.6% of the population. Our community will multiply and participate in the financial system. I want the next generation of la comunidad Latinx to be empowered to build their wealth through investment, and to have knowledge about personal finance, which unfortunately remains a privilege in today’s world.

Are there specific positive experiences you’ve had with financial literacy resources you’d like to share with others in the LatinX community who are looking for support?

Due to the lack of financial education resources, I was able to create my own videos and other content on social media to help fill that gap. But amazingly, I’m not alone! Just through TikTok, IG and Youtube, you can find many resources for personal finance.

I also believe that books are a great resource to help with education and perspective:

My favorite books are:

The views and opinions expressed herein are those of the authors and do not necessarily reflect those of Nasdaq, Inc.

Leave a Reply

Your email address will not be published. Required fields are marked *