DeepSummary
Tori starts the episode by sharing her experience of attending several Broadway shows during her recent trip to New York City, including 'Illinois', 'Suffs', 'Water for Elephants', and 'Uncle Vanya'. She then discusses the importance of investing and provides an overview of who is ready to invest - those with a fully funded emergency fund and no high-interest debt.
Tori explains the steps involved in opening an investment account, including determining your investment goal, opening the account, funding it, and choosing your investments. She highlights the differences between DIY platforms, robo-advisors, and her own platform, Stock Market School, which combines education and an intuitive investing platform.
Tori emphasizes the importance of starting to invest as early as possible, even with a small amount of money, due to the power of compound interest. She encourages listeners to take action and provides resources such as the 'Stock Market Secrets' workshop and her book 'Financial Feminist' to help them get started on their investing journey.
Key Episodes Takeaways
- Start investing as early as possible, even with a small amount of money, to benefit from compound interest.
- Open an investing account and choose your investments (such as index funds) after having an emergency fund and paying off high-interest debt.
- Determine your investment goal (e.g., retirement, education, or other goals) to choose the appropriate account type.
- Consider educational resources and platforms like Stock Market School to learn about investing and make informed decisions.
- Invest consistently, even if it's a small amount, and take advantage of employer-matched retirement contributions.
- Understand the differences between DIY platforms, robo-advisors, and educational platforms to choose the best option for your needs.
- Investing is crucial for building wealth and achieving financial success, especially for retirement.
- Seek resources and take action to start your investing journey, rather than delaying or feeling intimidated.
Top Episodes Quotes
- “If there's one thing I try to get women to take away from our work, other than all of the other things that I say, one thing I tried to take away from your work, but truly, like, I need you investing, it is your best way to build wealth. It is the best way for you to set yourself up for financial success.“ by Tori
- “We built it because I didn't like any of the two options. DIY was way too complicated. Robo advising was way too passive. So I built you stock market school, which is not just education from me, but actual investing through a new platform that is intuitive and accessible and inclusive and not jargony.“ by Tori
- “If you are not investing, you are losing money. The average person cannot afford to retire if they do not invest.“ by Tori
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Episode Information
Financial Feminist
Her First $100K
6/6/24