Brown Girls Do Invest Tour

How do women of color, feel about investing in the stock market?  For many of us, it isn’t easy because investing simply isn’t something we’ve taken to time to quite rap our arms around.  If we are being honest, many of us have 401Ks and we simply let it sit there without any real understanding of what’s happening with our own money.  This is why Brown Girls Do Invest is such an important organization.

We were able to make it to the Brown Girls Do Invest session held in Atlanta, Georgia.  Brown Girls Do Invest is a nonprofit 501(c)(3) organization for African American women.  Their goal is to educate and invest in stocks, bonds, real estate, and multiple incomes.  The organization was launched by wealth expert and economist, Bahiyah Shabazz.  What we loved most about this event is that she brought together a group of expert black women who are actually at the top of their fields.  We follow many of them on social media, so it was great to sit down and have a talk with them in person.

Daniele Pierce is the founder of Women, Wealth, and Real Estate .  Courtney Richardson, ESQ is the founder of The Ivy Investor, and a former investment adviser.  Joanna Jane is a Change Agent, and Tela Holcomb is a six-figure stock options trader, and the creator of Trade Your 9 to 5.

Women of

Color Can Invest By Simply… Starting

Here are some of the biggest lessons I learned at the Brown Girls Do Invest Event: The one

thing that stops most brown girls from actually investing is that we simply never start!  Perhaps it’s out of fear, perhaps we believe that we don’t actually make enough money.  At the event we learned for as little as $5 on some apps, you can start investing at any time.  Many of us are great talkers, or great starters, but the hardest part is – the finish.  In order to get our feet wet in the investment game, we simply just have to start.  By starting, we are also on our way to learning.

I also learned how to focus on my primary goal.  Do I want to invest for a long-term or the short-term? How do I decide which investments are for long-term investing-instead of short-term investing.  Tela Holcolm advised that we should think about the items we would still use even during a recession.  Items like toilet tissue, soap, and clothing detergents are items we would buy even if we were in a recession and trying to save money.  She said these are the best options for a long-term investment. You also need to determine if you are a trader or an investor.  Trading is buying and selling frequently, same day, ie Day Trading or Swing Trading.  Investing means that you are in it for the long haul.  These are all things you need to think about.

Also, if you’re beginner like most of us at this meet-up, one of the best apps to download for beginners is the Robinhood app.  It’s easy to use and its free; you also get one free stock.  Another good tidbit is that Youtube is a good place to learn. Many investment gurus have their own channel; find one guru you like on Youtube who knows what they’re talking about and has receipts, and follow them. Finance.yahoo.com and planet resolution are also great resources to learn about investing.  Again the important step is simply to start.  As suggested by Courtney Richardson ESQ, start with the top 10 products you use.  Then research those products: who makes them, who’s the president of the company, look at ancillary companies, and are they even traded on the stock exchange. Then look at what the cost is to purchase stock, and if you can afford it.

We also learned the importance of deciding if we would prefer Class A Stock – pays the fee up front, Class B Stock- you pay over time.  We discussed Mutual Funds and talked about real estate investing.

Daniel Pierce, real-estate investor who runs a popular Facebook group called, Women, Wealth, and Real Estate w/ Daniel Pierce suggested, if you are flipping houses or if you know someone that flips houses and they don’t know what their ARV is, you’re doing it all wrong.  She asked that we have a clear understanding of what the After Repair Value (ARV), in order to ensure that we are actually making money on a project. If you want to know all about real estate, flipping houses tax liens, join Women Wealth and Real Estate on Facebook. She also suggested these tips:

1. Find out where you want to invest
2. How much do you want to invest
3. Do you want to be a landlord or a flipper
4. learn the neighborhood

Pierce, who is probably also an expert in Tax Lien Sales offered great advice discussing some of the ins and outs of the Tax Sale game, and how we needed to be careful because just because you win a bid, in some states the property may not be yours for up to another 2 years.  Meaning owners have a certain amount of time after the bid to pay their taxes and get their land back.  She suggested looking for tax liens that are a year and under, and to know the rules before you bid.

It was so much we learned, and so many terms and resources! Nerd Wallet, Financial Need Analysis, SEP IRA / SIMPLE IRA, Budget Expenses and Income, BIGAUDACIOUSGOAL, Life Insurance is NOT an Investment, need a Tax specialist, Financial Advisor, Real Estate specialist, 529, annuities-variable/fixed!  It was enough info for everyone to go out and do the research we need to do in order to get our financial and investment lives on track.

It was truly a great discussion and these gurus are still on the Brown Girls Do Invest tour.  Check them out in a city near you, and focus on getting your coins together!