Preparing Financially for a Career Transition: an interview with Lana Gifas of Women's Mentoring Network

Lana Gifas joined the Women’s Mentoring Network as Executive Director in 2015. The organization focuses on the economic empowerment of women and their families, providing support services that focus on finding better employment and educational opportunities.  Lana shared that a strong work ethic was instilled in her by her father, who was a first generation American. She heard him leave early in the morning, 3:00 or 4:00 am, to go to Hunts Point Market to purchase produce for his fruit and vegetable store. She and her brother worked since they were teenagers, in food service or in retail.After graduating from college, Lana joined Citibank as they were expanding their customer service for Fortune 500 companies, This began her multi-decade career working with corporate loans, culminating in a position working 24/7 as a manager in charge of documentation and loan closings at UBS Investment Bank. When an organization of which she was a board member, Women's Mentoring Network, approached her about taking over the Executive Director position from the founder who was retiring, she jumped at the chance. “I was the primary breadwinner for many years, so I said this is my time; I could  go back to school and I could start at the bottom of the education or nonprofit world, or I could start as the executive director of a smaller organization, but the support would be there.”  - Lana GifasKey takeaways:- Be a self-advocate. Lana knew that she was ready to step out of the financial services world, and into a new role as executive Director of a small not-for-profit. Rather than just walk away from her position with UBS, she advocated for herself, agreeing to stay with the team and help them through a transition, in exchange for a generous severance package. - When planning a career transition, be intentional about preparing financially. Lana and her husband, who also left banking and started a business, made sure their healthcare was covered and that their savings would enable Lana to change careers while still meeting their commitment to pay for their children’s college education. - Learn something new each day. When making a transition to the non-profit world, Lana relied on many people and resources to guide her. She attended online sessions about fundraising and boards, and even took some related college courses to help educate herself. Lana notes that the world is always changing, and it’s important to be open to learning new things. About the guest:Lana Gifas joined Women’s Mentoring Network as Executive Director in 2015. Women’s Mentoring Network, a nonprofit located in Stamford, CT, focuses on economic empowerment of women and their families, providing support services that focus on finding better employment and educational opportunities. Ms. Gifas earned her MBA and undergraduate degree from The Gabelli School of Business at Fordham University. Ms. Gifas has worked at various financial institutions throughout her career prior to transitioning to her current role at Women's Mentoring Network. Lana serves on several committees to help support the efforts of the organization, including Co-Chairing Stamford’s Food Collaborative, serving on a committee for Stamford Cradle to Career’s initiative, and serving on the 2Gen, Financial Literacy, and Internship committees for the CT’s Governor’s Council for Women and Girls. Under her leadership, Women’s Mentoring Network was awarded Moffly Media's Light a Fire Women's Impact Award in 2020, and both the National Association of Social Workers of CT Latino/a/x Award and the SHero Award from the Commission on Women, Children, Seniors, Equity & Opportunity in 2021.Email Address: [email protected]: @womensmentoringnetworkLinkedIn: linkedin.com/in/lanagifas / https://www.linkedin.com/company/wmninc/Instagram: @womensmentoringnetworkWebsite: https://wmninc.org Interested in booking a free consultation? Schedule a call.Stay connected:Connect with Laura on LinkedIn@Rotters5 on TwitterConnect with Laura on FacebookSubscribe to my YouTube channelSubscribe to my newsletterGet your free copy of Unlock Your Money Blocks Workbook : Your step-by-step guide to unlocking your blocks to financial freedom.Disclaimer: Please remember that the information shared on this podcast does not constitute accounting, legal, tax, investment or financial advice. It’s for informational purposes only. You should seek appropriate professional advice for your specific information.