Listen on…
Start investing today and put your money to work
When I first started investing and making my money work for me… I was super intimidated!
In fact, the immediate thought that comes to mind when I think “investor” is a middle-aged man, in a dark suit, briskly walking down a city street with a Starbucks coffee in hand. Maybe he’s wearing a fitted t-shirt instead of a button-down — if he’s got a little swag.
I am, quite literally, describing Bobby Axelrod from Billions. I love Bobby’s character, but… I think you would agree, that’s definitely NOT ME. ;-)
Google doesn’t think it’s me, either. In fact, if you do a Google image search of “investor,” guess what turns up? Ninety-nine percent of the images that populate are of the guy I just described above (ahem, Bobby) — and no women.
It’s no wonder I feel slightly uncomfortable thinking about investing — because women, especially millennials and older, have been so conditioned to think that you have to be a man (and have a ton of money) to invest.
But here’s the thing…
That impression is totally wrong. The game has changed, and women are investing money like never before (and Google, if you’re reading this, please push some female investor images to your first page, okay?)
Investing money doesn’t have to mean putting millions of dollars into a hedge fund — it simply means making your money work for you over time. The key here is, though, that you have to actually GET STARTED investing in order to be successful in it, and that my friend, is often the biggest hurdle.
That’s why I’m so excited for you to hear the interview I had with Bola Sokunbi, who is the go-to expert for investing, whether you’re an experienced investor or just starting out — and definitely if you’re a female investor.
She’s a Certified Financial Education Instructor, best-selling author, speaker, writer, podcaster, social media influencer, and a mama to twins — which makes her THAT much more impressive.
In our interview, we discuss:
- How to get started investing, even if you NEVER thought you’d be able to
- Some of the barriers to investing that women face, and how we’re overcoming them
- Tips on investing your money smarter so you can retire before the age of 65
- The good, the bad, and the ugly about cryptocurrency, and if it's right for you
Think of it like Investing 101, with a little extra kick. ;-)
Here’s a glance at this episode…
- [07:07] Introducing Bola Sokunbi — the founder and CEO of Clever Girl Finance, and author of Clever Girl Finance: Learn How Investing Works, Grow Your Money.
- [09:50] Most simply, investing is putting your money to work for you and growing it. By investing your money, you can grow your wealth while you sleep by taking advantage of compound interest.
- [11:58] If you want to be a smart investor, you first need to get clear on what you feel comfortable doing. The lowest barrier of entry to investing is in the stock market — but before you invest your money in anything, be sure to understand the basics of how that investment works.
- [12:49] It's important to have goals and objectives around your investments including a timeline. Ask yourself, “What is the purpose of this investment and what do I need this money for? When do I need it?”
- [14:31] You can start small and invest consistently over time. Decide how much you can invest each week or month and create a long-term strategy.
- [20:19] It’s so important for women to take control of their financial futures, so they have enough money to retire and live comfortably later in life. Investing can help women (and all people) achieve that goal.
- [25:47] If you're just learning about investing, start with the stock market and build your knowledge from there. Once you have a solid knowledge base, consider diversifying your investment options with real estate, or investing in your own side hustle.
- [28:36] Crypto is here to stay, but it is highly volatile. Before investing in digital currency, understand your risk tolerance and don't invest what you're not willing to lose.
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