Tiffany James saw the many doors that building wealth could open. Her 2016 stock market debut laid the groundwork for a life-changing investment in Tesla three years later. James, a Good Change Maker for 2022, invested half of his check—buying about $4,000 worth of stock for less than $100 per share—and the initial investment That, along with multiple deals, resulted in a $2 million portfolio.
This self-taught trader amassed his stock market knowledge through trial and error, as well as online communities and resources. However, as a Haitian-Jamaican American woman, there is no one-size-fits-all, early stage investment background designed for her unique journey and identity. She created a solution: Modern Blk Girl, a “one-stop shop for all kinds of investing,” as James describes it. Together with her partner, Sharlea Brookes, the 28-year-old entrepreneur built a one-of-a-kind community and school for newcoms, teaching Black women the importance of investing and creating wealth. cabbage.
“Who am I to come and start teaching people about stocks and investing?” asked James, who was initially hesitant to launch Modern Blk Girl. “I know that my system is up and running and I know that, if not me, there are others in the community who can help me grow. [this]. That is exactly what happened.”
Addressing the “double gap” through financial literacy
Black women bridge the gap between rich and poor in both gender and race, resulting in 90% less wealth than white men. The inequality between the rich and the poor and the lack of easily accessible financial information certainly affects their ability to invest. According to a survey by CNBC/Momentive Invest in You, half of adult black Americans and 49 percent of Latino adults currently do not own individual stocks, mutual funds, bonds, or exchange-traded funds. item, cryptocurrency or real estate. When the data is broken down by gender, nearly 60% of Black women and nearly 50% of Latinos don’t invest in anything, compared with 34% of white women and 23% of white men.
The stats don’t stop James. Instead, they encouraged her to assist Black women in creating wealth. “There are so many different ways to make money in the stock market,” she said.
Transparency share the journey
James is determined to transparently share his investment and trading journey on social platforms. In fact, the social space is where Modern Blk Girl first got its start through the Clubhouse. “I want women to know that it’s not like, I woke up and I’m a millionaire. No, we put some work in, she said.
Scroll through Modern Blk Girl’s Instagram account, which has amassed 48,300 followers, and you’ll find a number of posts where the former hotel and event guru discusses how she made thousands of dollars. in one day. She doesn’t stop there; James plans to drop an app and is working towards a TV show in 2023.
But related story
“What we do is very unique, and I don’t think anyone can master it the way we do it, in regards to making stocks interesting,” James said. “I think the more we normalize it and the more people like me normalize it, the further we’ll go.”
