4 Strategies Tiffany James Used to Make 1 Million in the Stock Market

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• tiffany james invested $10,000 in the stock market and built a million dollar portfolio in just two years.
• says you don’t have to have a fortune to start investing.
• Joining a community was the key to their success. She now shares her tips for building wealth with other Black women.
• She reads more stories from personal finance experts.

despite more people investing in the stock market, a cnbc study shows that 59% of black women and 48% of hispanic women do not own individual stocks, mutual funds, bonds, cryptocurrencies or real estate, compared to 34% of white women and 23% of white men.

Reading: How i made millions in the stock market

26-year-old financial literacy coach tiffany james is dedicated to changing those statistics and teaching black women everything she knows about investing.

james was working in the fashion and hospitality industries in new york city when he started investing in 2019. one of his co-workers was a “tesla bull”, an investor who believes in the aggressive growth of tesla in the future, which continued to pressure her to buy tesla stock.

At the time, James already had a small portfolio that he started in 2016 and was doing well, but he didn’t pay much attention to it. He decided to take a chance and invest in Tesla at the end of 2019, when the shares were priced between $65 and $70 each. He began gradually investing $4,000, which turned into six-figure profits as Tesla’s stock price climbed to $1,000 each.

Since 2019, James has invested a total of $10,000 in the stock market, perfecting trades, long jumps, stocks, options and futures into a million dollar portfolio in just two years. she is now teaching black women everything she knows about the stock market by starting a community called modern blk girl (mbg).

These are four strategies Tiffany James used to amass wealth quickly.

1. start with what you know

See also : 7 Ways to Make Money Quick By Only Investing 1,000

With his massive earnings at Tesla, James said he spent a lot of time researching companies with “futuristic ideas”. he researched the electric vehicle industry and decided to invest in companies like blink (blnkw) which produces charging stations.

while she was investing in something new and risky like electric vehicles, james also invested in something safe, like the s&p 500 (spy), which measures the performance of the top 500 publicly traded countries in the united states . James says that about 60% of her portfolio is invested in safe growth.

james was also inspired by his love of makeup and fashion to invest in makeup retailer ulta. It was a smaller action, but ulta “did my account justice,” she shares.

2. Bust the myth that you have to have a lot of money to start investing

james asks his friends and the mbg community, “how many times did you go to lunch this summer? how many vacations did you take this year?”

Her friends say they typically spend between $4,000 and $5,000 on entertainment each year. “Let’s say you take even 20% of that and invest it in the market,” says James. “You’re looking for really big wins.”

In a discussion about the audio-based social media app clubhouse, James shared a challenge with his growing community of Black women investors. She wanted to turn $2,000 into $250,000 through trades, long jumps, and options, and she achieved her goal in just seven months.

“When you put it in that perspective,” James says, “people will start thinking, ‘oh, I can do that!'”

3. hear investment stories and advice from people you connect with

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“A lot of people in the financial space who are very passionate about what they do lose their grip on reality a little bit,” James says.

Historically, the financial space has been filled with white men who come from wealth and get too involved, to the point where they lose track of what it’s like to be a normal person in the stock market. While they may have helpful advice, James suggests listening to people who speak the same language as you, with experiences you can relate to.

“At Modern Blk Girl, we’re not very traditional when it comes to investing and teaching,” James says of his community’s success. “We like to bring real-life scenarios when we teach people how to invest. So we’ll compare a stock going up in price to a date and having intense emotions.”

james believes the stock market was designed to seem “scary or unattainable,” especially to black women and people of color. “Once people realize that you don’t have to get fancy degrees to learn how to make a trillion dollars in the stock market, the [financial space] could start to look really different.”

“This is why entering the market forcefully, as people of color, is so important,” he says.

4. join a community

james says the key to success is joining a community of people with like-minded values. James, the daughter of Jamaican and Haitian immigrants, had a hard time staying responsible and motivated until she found a community of black creatives who were just as excited about the stock market.

“It’s empowering, having a big sister, little sister moment where Black women who have been trading for a while can mentor younger investors,” James shares. modern blk girl is a space where james and her friends share investment and trading tips that align with her values ​​as black women.

James shares that being generous with her money also helps keep her motivated to keep investing. “When you learn about the market, your attitude toward money is that you can always get it back. I don’t really think about money that much because I know I can always get it. That’s the kind of flexibility I want for every black woman.”

Source: https://amajon.asia
Category: Stocks