2017 FORECAST : TAKE MORE RISKS WITH MONICA MEHTA
By Beth Levine | Photography by Joseph West
It ’ s not often I get intimidated by an interview subject , but then again women like MONICA MEHTA don ’ t come around that often . At only 42 , Monica has already established herself as a force to be listened to in the financial world , contributing to The Wall Street Journal ’ s “ The Experts ” with appearances on Fox News , Fox Business , CNBC , CNN , Bloomberg , MSNBC and HBO ( I know right ?!).
The daughter of a merchant marine ship captain , Monica spent most of her early years living at sea , before migrating to Texas in the early 80s . As immigrants , her parents faced the usual economic struggles before turning to entrepreneurship , starting their own small business . Monica ’ s parents left an indelible imprint on her upbringing , leading her to write her first book ( she is working on a second one , so stay tuned people ) The Entrepreneurial Instinct : How Everyone Has the Innate Ability to Start a Successful Small Business . With such an extensive background running the gamut from finance to politics , I jumped at the chance to get a little insight into how to get a head start , or just ahead in general , on your finances and successfully navigate today ’ s business and political climate .
Monica ’ s viewpoint is that the drive to start your own business resides in all of us . That the nuts and bolts of starting your own business is the ability to take risks , which is something we all possess regardless of what we do for a living . That while you might have a fairly straightforward path on whatever career ladder you are on , if you want to leap forward a rung , the ability to do so is innate . You just need to move forward with intent , venturing into the physiology of risk taking , and avoiding the analysis paralysis that holds many of us back .
As Houstonians , we are well aware that the last two years have been well , pretty craptastic financially . But Monica says be optimistic , and thinks 2017 will offer us a more robust economy , through lending and stabilizing oil prices . Her biggest pieces of advice for us to take advantage of the coming year ’ s opportunities ?
" If you are on the fence about buying a house ,” she stresses , “ DO IT NOW .” Like right now , as she hasn ’ t seen a real estate climate like this in 8 to 10 years .
“ SAVE , SAVE , SAVE .” Monica feels saving is vital to getting the jump on your finances . Think of it as the fuel for your risk-taking engine .
" Houston is an entrepreneurial city with a great infrastructure network of support and it ’ s infectious so don ’ t be afraid to use this support system ,” she says .
Taking into account her advice for her fellow Houstonians , I was also curious about what advice Monica would give to her past , present and future selves .
Past advice : Take MORE RISKS and don ’ t think so much .
Present advice : Make a conscious effort to be more present , to be in the moment . We are too easily distracted and find ourselves sandwiched between the delicate balance of life and work .
Future advice : Be incredibly picky about how you spend your time . Narrow your core focus , cultivate and curate what you are passionate about .
50 LOCAL | february 17