Vita Nelson”™s entrance into publishing came by accident.
Like most recent grads, she had a piece of paper ”“ but no real idea what to do with it.
“Without an appointment, I went over to Street & Smith publications at 56th Street and Fifth Avenue,” she said. “They were, at the time, the publishers of Mademoiselle.”
A 20-something Nelson ”“ who later would go on to found Westchester Magazine ”“ was waved into the hiring manager”™s office by her secretary.
“She returned with all the bags from the shopping she”™d been doing and she came in and said, ”˜Well what would you like to do?”™”
Nelson wanted to write.
“And she gave me the job ”“ can you imagine?”
A promotional copy gig at Living for Young Homemakers led her to the other company publication, Mademoiselle.
It wasn”™t long before Nelson got antsy and made her move to the financial district to work in municipal bonds.
“Because after I had been working at Mademoiselle for awhile, I thought if I said, ”˜divine”™ one more time, I would hate myself.”
It was there she met her Wall Street husband and, together, had three children and moved out of the city.
It was 1969 and Nelson was at a dinner party when a friend floated the idea of beginning a regional magazine for Westchester County.
That brainstorm quickly became a rampantly successful reality.
“We focused on the psychological in a sense, and we used local examples to bring home important stories. I really loved doing Westchester.”
The magazine was sold in 1980 and is now owned by Today Media.
At the time of sale, Nelson”™s next career move came from her recognizing her own unfamiliarity with managing portfolios.
“I thought, if I”™m this nervous about investing, other women must be totally freaked.”
The Moneypaper ”“ a financial publication that has grown to 700,000-plus subscribers as of today ”“ was born.
“It”™s very different (than Westchester Magazine),” she said. “It”™s kind of formula-driven.”
The company offers direct investment plans and runs its own mutual fund with shareholders who are “by and large subscribers.”
The online component of the publication was launched in 1995, and offers information about companies one can invest in without a broker.
Part of Moneypaper”™s job is to make people more self-sufficient.
“We turn them over to themselves,” she said. “I”™ve gotten letters from subscribers saying, ”˜I was able to invest $25 at a time and I”™m a housekeeper. Now I have a portfolio.”™”
Whether Nelson”™s attention is turned to lavish lifestyle or direct investment, she remembers the wise words of an earlier mentor.
“Absolute integrity is the biggest bonus you can give yourself. Your word is your bond. You don”™t need to sign it. You need to say it.”
