Home Education This 27-year-old girl shares how she managed it

This 27-year-old girl shares how she managed it

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This 27-year-old girl shares how she managed it

Building wealth is cool.

This is the mantra of Modern Blk Girl, a community aimed at teaching black women the importance of investing and creating wealth, founded by Tiffany James when she was just 25 years old.

Like most college freshmen, James had a student loan debt and was barely able to afford it when a colleague suggested she use one salary to buy shares Tesla y 2019, when stocks were $ 60 to $ 70 each.

It was my first real taste for investing, ”she said.

Tiffany James

Source: Tiffany James

Since then, James, now 27, has turned his initial investment of about $ 10,000 into more than $ 2 million, adding among other investments a mix of long-term growing companies, S&P SPDR stock funds and semiconductor chip stocks (he still owns some Tesla companies).

But James, the daughter of Jamaican and Haitian immigrants, continues to see herself as an outsider in a world of predominantly white men with “excellent diplomas”.

“For people of color, it was something they didn’t talk about,” she said of the investment. “It’s very scary, it has its own unique language, and if you’re not familiar with that language, it can be very difficult to understand.”

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In fact, the stock market was the main source of wealth creation in America during the pandemic – as well as a major factor in wealth inequality.

10% of the richest U.S. households now own 89% of all U.S. stocks, a record high, according to the Federal Reserve.

Almost 70% of their wealth growth over the past two years – one of the fastest wealth booms in recent history – is accounted for by stocks.

Millions of new investors first entered the market during the pandemic (thanks in part to stock trading apps like Robin Hood), and more 59% are black women and 48% are Hispanic women do not own individual stocks, mutual funds, bonds, exchange-traded funds, cryptocurrencies or real estate, compared to 34% of white women and 23% of white men, according to recent data CNBC / Momentive Invest in You Poll.

James and a group of other millennial women are trying to change that with practical investment tips expressed in an attractive and affordable way – what James likes to call “girlfriend talk but stock training”.

“You have people like me to tell you” hey, that’s what’s possible. “

You have people like me to let you know, “Hey, that’s what’s possible.”

Tiffany James

founder of Modern Blk Girl

Her approach is taking root – quickly. Now, with a community of more than 225,000 (mostly) women, James considers himself a “bird-of-flight retailer” at a time she calls a “revival of wealth”.

Tips don’t come for free – classes, including “1,000 to 100,000 in 1 year,” start at just under $ 100, and a monthly subscription costs $ 130, although introductory content is available for free.

But James is also happy to share what she knows with other women.

“If you raise a woman, you raise a village,” she said. “When a mom starts investing, she tells her kids.”

Here are her three key strategies to get started:

1. Get ready

Although war in Ukraine, inflation and rises fuel prices James said markets are beating, the best days aren’t necessarily over.

“Every time you go through a traumatic event, there’s usually a rebound.”

However, it is important to study some “specifications” to identify key levels of support and resistance and focus on companies with a solid foundation and then look for opportunities to buy.

Amazon‘s upcoming 20-for-1 stock splitfor example, there may be a chance to get some affordable shares of the retail giant.

2. Think broadly

Don’t just stick to names you know. For example, if you love Apple“Go deeper,” James said.

There are other components that are part of some of your favorite products such as smartphones. “The chips are great,” James said.

Continued crunch power supply for semiconductors harmed the consumer electronics industry, but things could improve in the second half of the year.

3. Don’t be afraid

“There are more scary things we face every day as women,” James said.

To create wealth, “investing is a necessity, not an option,” she said, and making money in the market will open the door to greater financial freedom and independence to do what you want.

“We can live the way we want to live.”

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