An Interview with Natalia Ivanova Founder of NewGen Wealth Creation, Financial Planner & Expat!
Her Expat Life chatted with Natalia Ivanova, founder and CEO of NewGen Wealth Creation, former financial advisor at Morgan Stanley and experienced expat about creating financial freedom, wealth, and financial planning tips!
1: Congratulations on starting NewGen Wealth Creation, Registered Financial
Advisor firm! What made you decide to start your own business?
My journey to becoming an entrepreneur began with two deeply impactful events in my
life. I arrived in the United States with only $500 in my pocket from Eastern Europe and
soon after college, I found a job in finance. Being young and single, I often worked
during holidays. I was in the process of obtaining my Green Card and because of the
legal process, I was unable to visit my home country for a long period of time. When I
got my citizenship and applied for a job as a Financial Advisor, I was sure that I would
be able to return home without any issues, but unfortunately, it took three months for me
to get the necessary authorisation from work. I was met with much criticism and
discouraging words for wanting to prioritise my family over my career. Despite all of this,
I was certain that family was my top priority and I wanted to be able to go home without
having to worry about getting the right permissions. This was the moment I first
seriously considered starting my own independent Registered Investment Advisor firm.
With this goal in mind, I began to build my network and ask questions.
When Russia invaded Ukraine, I felt the weight of the world on my shoulders. I had to
be a financial advisor to my clients, an immigration lawyer to my family, and a
fundraising coordinator to support Ukraine. Amidst the fear of bad news from home, I
knew I had to make a change and find a career that revolved around me. I no longer
could revolve around my New York job. And so I decided to leave Corporate America
and use this time to take care of my family and create something entirely new. I wanted
to enable young professionals to take control of their financial future and build their
wealth with confidence, no matter where they start from. Thus was born NewGen
Wealth Creation - a revolutionary way to help young people plan for their financial future
early in life.
2: What advice would you give to females looking to generate wealth?
I would like to gently encourage all women to take brave steps to improve their financial
picture. It can be daunting to try to learn the entire financial industry, but it doesn't have
to be. Creating wealth requires consistent effort, planning, and dedication.
There are many paths to wealth that individuals can pursue.
Here is a quick example, of how much a decision of buying a car versus investing could cost you:
- In 2019 I could buy a Tesla Model 3 for $60,000. At the time, Tesla stock was
trading at $200/share.
- Alternatively I could invest $60,000 into the stock instead of the car, I'd have
$420,000 in 2020.
- The car in 2020 would be worth about $35,000. The cost of me buying the car
instead of the stock: $385,000!
Consider finding a wealth planner who can provide the guidance and expertise
necessary to help you make smart financial decisions. Taking action is essential to
making progress and improving our financial situation. There are many ways to start
working with a financial professional without committing to a huge expense.
3: Some people are struggling financ