Mentors and Mentees: Why Every Woman Needs to Look Both Forward and Backward on Her Financial Journey
There's an African proverb that perfectly captures the power of financial mentorship: "To go fast, go alone. To go far, go together." As women building wealth, we're not interested in just going fast—we want to go far. We want to build lasting financial security, generational wealth, and create positive change in our communities. And that requires both learning from those ahead of us and lifting up those behind us.
What Are Financial Mentors and Mentees?
Financial Mentors are people who are 10 steps ahead of you on one of your Big Financial Goals. They've already achieved a version of what you're working toward—whether that's hitting a million-dollar net worth, buying their first investment property, starting a successful business, or retiring early.
Financial Mentees are people who are where you were 5-10 years ago. They're just starting their financial journey, facing challenges you've already overcome, or working toward goals you've already achieved.
The magic happens when you actively cultivate relationships in both directions—learning from those ahead of you while sharing your experience with those behind you.
Why Women Need Financial Mentors
They Make Your Goals Feel Achievable
When financial goals exist only in your imagination, they can feel overwhelming or impossible. But when you meet someone who's actually done it—who's paid off six figures of student loans, built a seven-figure business, or retired at 50—your goal suddenly becomes real and attainable.
They Share the Real Story
Most success stories skip the messy middle. You hear about the end result but not the practical steps, the setbacks, or the daily decisions that led to success. Financial mentors fill in these crucial details.
Ask your mentors:
"What were your first steps when you set this goal?"
"What early actions prepared you for this achievement?"
"What would you do differently if you started over?"
"What resources were most helpful in your journey?"
They Talk you through the Messy Middle
Big Financial Goals aren't just about money—they're about taking leaps, moving forward when your crystal ball is broken, and the money beliefs that come with wealth building. Mentors help you prepare mentally and emotionally for the journey ahead.
They Expand Your Network
Successful people know other successful people. A good mentor can introduce you to additional Specialists, opportunities, and resources that would take you years to find on your own.
Why Women Need Financial Mentees
They Keep You Grounded
Teaching others reminds you how far you've come and helps you appreciate your progress. It's important to pause and reflect on how you've learned and done when you're focused on your next goal.
They Inspire You to Continue Growing
Mentees ask fresh questions and bring new perspectives that can reinvigorate your own financial journey. Their enthusiasm can reignite your motivation.
They Create Positive Impact
By sharing your knowledge, you're helping close the gender wealth gap and creating positive ripple effects in other women's lives.
They Force You to Articulate Your Strategies
Explaining your financial decisions to a mentee helps you clarify your own thinking and identify what's working (and what isn't) in your approach.
Finding Financial Mentors
Look in the Right Places
Professional associations in your field
Investment clubs and real estate groups
Online communities focused on your specific goals
Alumni networks from your school
Industry conferences and networking events
Social media groups dedicated to financial topics
What to Look For
Authentic Success: They've achieved what you want to achieve
Willing to Share: They're open about their journey, including failures
Similar Values: Their approach to money aligns with your values
Available: They have time and interest in mentoring
Recent Experience: They remember what it was like to be where you are
How to Approach Potential Mentors
Don't start with: "Will you be my mentor?"
Instead, try:
"I'm working toward [specific goal]. Could I ask you a few questions about your experience?"
"I'd love to learn from your journey to [achievement]. Would you be open to a brief conversation?"
"Your story about [specific accomplishment] really resonated with me. I'd appreciate any advice you might have."
Start with specific questions rather than requesting ongoing mentorship at the jump. Many mentor relationships develop naturally from initial conversations and can be formalized as it evolves.
Then set expectations: Mentors may not want to overshare or overwhelm you. Be clear on what can helpful to you at which stage. Ask for a specific feedback or amount of time. At this point, ask, “Will you be my mentor?” It’s an honor to be asked to be someone’s Mentor.
Types of Financial Mentors You Might Need
The Wealth Builder
Someone who's achieved the net worth you're targeting through investments, business ownership, or strategic career moves.
The Industry Insider
Someone successful in your specific field who can guide your career advancement and income growth strategies.
The Real Estate Investor
If property investment is your goal, find someone with a portfolio you admire who can share practical strategies.
The Entrepreneur
For business goals, connect with women who've built successful companies in your industry or with similar business models.
The Early Retiree
If financial independence is your goal, learn from women who've successfully retired early or achieved location independence.
Finding and Being a Great Mentee
Look for Emerging Professionals
Recent graduates in your field
Women changing careers who could benefit from your experience
Online community members asking questions you once asked
Professional organization newcomers
Women starting businesses in areas where you have experience
How to Be an Effective Mentee
Come Prepared:
Have specific questions ready
Do your homework before meetings
Take notes and follow up on advice
Show Appreciation:
Thank your mentor for their time
Update them on your progress
Acknowledge their help when you achieve milestones
Be Coachable:
Listen more than you talk
Ask clarifying questions
Be open to feedback and different perspectives
Don't Be Pushy:
Respect their time and boundaries
Don't expect immediate responses to messages
Understand they may not be available for everything you want to discuss
Being an Effective Mentor
Share Your Real Experience
Don't sugarcoat your journey. Share both successes and failures, including:
Mistakes you made and lessons learned
Resources that were particularly helpful
Emotional challenges you faced
Practical steps that made the biggest difference
Be Specific and Actionable
Instead of general advice like "save more money," provide specific strategies:
"I automated transfers to savings every payday"
"I used the envelope method for discretionary spending"
"I negotiated my salary using this specific script"
Set Appropriate Boundaries
Be clear about how much time you can commit
Establish preferred communication methods
Let them know what topics are and aren't within your expertise
Connect Them with Resources
Recommend books, podcasts, and courses
Make introductions to your Specialists when appropriate
Share tools and systems that worked for you
The Unique Challenges Women Face in Financial Mentorship
Confidence Gaps
Women often underestimate their own expertise and hesitate to mentor others. Remember: if you're even one step ahead of someone, you have valuable experience to share.
Imposter Syndrome
You might feel like you're not "successful enough" to be a mentor. The truth is, you don't need to be perfect or have achieved all your goals to help someone who's behind you on the journey.
Time Constraints
Life is lifing. Be realistic about your availability and communicate boundaries clearly.
Finding Authentic Connections
It can be difficult to find mentors and mentees who share your values around money and success. Look for women who define wealth holistically, not just in terms of dollar amounts.
Making the Most of Mentor/Mentee Relationships
For Mentees: Ask Better Questions
Instead of "How did you get rich?" try:
"What was your mindset shift around money in your 30s?"
"How did you decide between paying off debt and investing?"
"What financial habit had the biggest impact on your success?"
For Mentors: Share the Journey, Not Just the Destination
Instead of just sharing what you achieved, explain:
Your decision-making process
How you overcame specific obstacles
What resources were most valuable
How your approach evolved over time
Both: Maintain the Relationship
Schedule regular check-ins
Share relevant articles or opportunities
Celebrate each other's wins
Be authentic about challenges
The Ripple Effect of Financial Mentorship
When women mentor other women around money, we create powerful ripple effects:
Knowledge transfers more effectively within our communities
Success stories become more relatable and achievable
Financial strategies get adapted for women's unique circumstances
The gender wealth gap begins to close
Building Your Mentor/Mentee Network
Start with one relationship in each direction:
Identify one person ahead of you who's achieved something you want
Find one person behind you who could benefit from your experience
As these relationships develop, your network will naturally expand. Mentors will introduce you to other successful women, and mentees may connect you with their peers who could benefit from your expertise.
The Long-Term View
Financial mentorship isn't a quick fix—it's a long-term approach to building wealth and wisdom simultaneously. The mentor who guides you through your first investment property purchase might become a lifelong friend and business partner. The mentee you help with budgeting basics might someday mentor you on a goal she achieves first.
Remember: You don't need to wait until you've achieved all your financial goals to start mentoring others. If you've successfully paid off debt, you can mentor someone just starting that journey. If you've increased your income, you can help others negotiate for raises. If you've started investing, you can guide someone through their first stock purchase.
Your experience has value at every stage of your financial journey. Use it to help others while continuing to learn from those ahead of you.
Ready to connect with women who can serve as Mentors and Mentees on your financial journey? Join our community where experience is shared freely and everyone is committed to lifting each other up.
