Tela Holcomb, a stock market investor, joined the HER AGENDA INSIDER community for a lunchtime #PowerHour chat to share how women can start to invest. While saving is important, building wealth requires a bit more. As the creator of Trade Your 9 to 5®, Tela is quickly becoming America’s favorite stock market educator.
In 2009, as a single parent and Air Force veteran, Tela started learning how to invest in the stock market. By 2013, she more than doubled her retirement account and retired from a 9 to 5! As we look for ways to improve the lives of women, financial empowerment is essential.
Through her culturally responsive approach to teaching the stock market, Tela has helped tens of thousands of people all over the U.S. learn how to make money in the stock market. We wanted to bring her expertise to HER AGENDA INSIDERS.
Keep reading to check out a few excerpts from the conversation.
On the first steps to investing:
The first step is to start with your goals in mind. Figure out what you want to achieve through investing in the stock market. Once you’ve determined that, then you can dive into the right tools/accounts to invest based on your needs/goals.
Tela on whether women should approach investing differently than men:
Yes, women should definitely approach investing differently than men. Studies show on average, we live longer than men, make less than men and are usually the ones who take a break in our careers when we decide to start a family. All of this needs to be factored in when investing in order to reach our financial and retirement goals. One resource that takes all this into consideration when building your portfolio is Ellevest.
Tela on the ideal amount to invest:
For long-term investing, you can get started with as little as $20 with some apps! One app I really like for this is Stockpile. They offer what is called “fractional shares.” Think of a share (one piece of stock) like a sweet potato pie. You may not be able to buy the whole pie right now but some apps will allow you to buy a slice of that pie.
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Tela on investing as a beginner:
I always recommend a practice account for learning what to do and how the stock market works. A practice account is a virtual account with play money that lets you buy/sell against the real market BEFORE using your real money. This let’s you get a feel for how everything works, what it looks like when you’re making money, what it looks like when you are losing money, and to ultimately develop an investing strategy that fits those goals we talked about.
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