How this 92-year-old became a top American money manager

Joan Payden’s Remarkable Journey: From Corporate Job to Wealth Management Mogul

At the age of 52, Joan Payden made a bold decision that would change the trajectory of her life. Leaving behind a secure job and liquidating her 401(k), she ventured into the risky world of entrepreneurship. Her goal was to establish her own money management firm, a move that many might have considered overly ambitious or even reckless.

Undeterred by the challenges ahead, Payden’s determination and financial acumen propelled her forward. She founded Payden & Rygel in 1983, in the heart of Los Angeles, California. From its humble beginnings, the firm has grown into one of the largest independently owned global investment management companies. Payden’s vision was clear: to provide top-notch financial services and investment opportunities to a diverse clientele, including ultra-wealthy individuals and large institutions.

Throughout the decades, Payden’s firm has navigated through various financial crises and market fluctuations, always emerging stronger. Her leadership and strategic decisions have been pivotal in the firm’s sustained success. Payden’s approach to investment is characterized by meticulous research, risk management, and a deep understanding of market dynamics. These principles have earned her the trust and respect of clients worldwide.

Payden’s story is not just one of financial success, but also of breaking barriers in a male-dominated industry. Her achievements have paved the way for other women in finance, demonstrating that determination and expertise can lead to extraordinary accomplishments regardless of gender.

Re-reported from the article originally published in Forbes.