This 27-year-old shares how she made it

Wealth building is cool.

That’s a mantra from Modern Blk Girl, a community that aims to teach black women the importance of investing and creating wealth, and that was founded by Tiffany James when she was just 25 years old.

Like most recent college grads, James was in debt on student loans and was living just above his means when a colleague suggested that she use a paycheck to buy Tesla stock 2019 when shares were $60 to $70 each.

That was my first real taste of investing,” she said.


Source: Tiffany James

Since then, James, now 27, has turned her initial investment of around $10,000 into more than $2 million by adding a mix of long-term growth companies, S&P SPDR Exchange Traded Funds and semiconductor chip stocks, among other investments (she still owns a few Tesla).

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

“For people of color, it was something that wasn’t talked about,” she said of investing. “It’s very intimidating, it has its own unique language and unless you’re privy to that language, it can be very difficult to understand.”

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In fact, during the pandemic, the stock market has been the primary source of wealth creation in America — as well as the primary driver of wealth inequality.

According to Federal Reserve data, the richest 10% of American households now own 89% of all US stocks, a record high.

Almost 70% of their wealth gains over the past two years — one of the fastest wealth booms in recent history — have come from stocks.

Millions of new investors were entering the market for the first time during the pandemic (thanks in part to stock trading apps like Robinhood), and yet 59% of black women and 48% of Hispanic women do not own individual stocks. Mutual funds, bonds, exchange-traded funds, cryptocurrency, or real estate, compared to 34% of white women and 23% of white men, according to a recent CNBC/Momentive Invest in You poll.

James and a group of other millennial women want to change that with practical investing advice delivered in an engaging and approachable way — what James likes to call “girlfriend talks but learning stocks.”

“You have people like me that let you know, ‘Hey, this is possible.'”

You have people like me letting you know, “Hey, this is possible.”


Founder of Modern Blk Girl

Your approach catches on – quickly. With a community of more than 225,000 (mostly) women, James sees herself as a “bird’s-eye view of the retailer” in what she calls a “renaissance of wealth.”

Advice isn’t free — courses like 1,000 to 100,000,000 in 1 year start at just under $100 and a monthly subscription is $130, though introductory content is available for free.

But James also likes to share her knowledge with other women.

“When you raise a woman, you raise a village,” she said. “When a mother starts investing, she tells her children.”

Here are their three key strategies for getting started:

1. Get ready

Although the war in Ukraine, inflation and rising fuel prices are shaking markets, the best days are not necessarily over, James said.

“Anytime you go through traumatic events, there’s usually a rebound.”

However, it is important to learn some “techniques” to identify key support and resistance levels and focus on companies with solid fundamentals – and then look for buying opportunities.

Amazon’s upcoming 1:20 stock split, for example, could be an opportunity to pick up some affordable shares in the retail giant.

2. Think broadly

Don’t just stick to the names you know. For example, if you love Apple, go deeper, James said.

There are other components that go into building some of your favorite products such as: e.g. smartphones. “Chips are great,” said James.

An ongoing supply shortage for semiconductors has hurt the consumer electronics industry, but things could improve in the second half of the year.

3. Don’t be afraid

“There are scarier things that we as women deal with every day,” James said.

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

“We can live the life we ​​want to live.” This 27-year-old shares how she made it

Gary B. Graves

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