SO
SO WITH
SO WITH ALL THE GAMES STOP STOP AND THEN READ IT DRIVEN STOCK INSANITY
YOU'D THINK THAT INVESTING IS
ALL ABOUT PICKING A SINGLE
STOCK AND CASHING IN BUT THAT'S
NOT NECESSARILY THE CASE BUT
DON'T TAKE MY WORD FOR IT.
OUR FRIEND TORI DUNLAP, FOUNDER
OF HER FIRST ONE HUNDRED K IS
JOINING US NOW.
AND TORI, FIRST OF ALL, THANK
YOU FOR BEING HERE.
THANK YOU SO MUCH FOR HAVING
ME.
IT'S GOOD TO BE BACK.
IT IS ALWAYS A PLEASURE TO HAVE
YOU ON OUR SHOW AND EXPLAIN
THESE THINGS BECAUSE I DON'T
KNOW MUCH ABOUT STOCKS BUT I
ALWAYS HEAR THINGS ABOUT
DIVERSIFYING YOUR PORTFOLIO.
WHY IS THAT SO IMPORTANT VERSUS
SINGING STICKING WITH A SINGLE
STOCK?
YEAH, IT'S A GREAT QUESTION.
SO ONE OF THE THINGS THAT YOU
HAVE TO THINK ABOUT WHEN YOU'RE
INVESTING IS THAT INVESTING IS
A LONG TERM STRATEGY AND ONE
OF THE THINGS IN ALL OF THIS
GAMESTOP MADNESS THAT WE SAW IF
THESE QUICK DECISIONS RIGHT
WHERE PEOPLE ARE BUYING AND
SELLING SOMETIMES MULTIPLE
TIMES A DAY AND WHEN YOU'RE
THINKING ABOUT DIVERSIFYING
YOUR PORTFOLIO, BASICALLY IT'S
JUST A FANCY WAY OF SAYING
YOU'RE NOT PUTTING ALL OF YOUR
EGGS IN ONE BASKET BECAUSE IF
WE ARE INVESTING FOR YEARS OR
EVEN DECADES RIGHT.
WE DON'T WANT TO NECESSARILY
JUST BE INVESTED IN ONE COMPANY
OR HAVE ALL OF OUR EGGS IN JUST
ONE BASKET.
SO BY DIVERSIFYING YOUR
PORTFOLIO MEANS INVESTING IN A
LOT OF DIFFERENT COMPANIES OR A
LOT OF DIFFERENT INDUSTRIES.
GOT IT.
OK, SO WHAT CAN YOU INVEST IN?
WHAT ARE THE DIFFERENT OPTIONS
?
YEAH, SO THERE'S TWO BASIC
THINGS TO INVEST IN A STOCK OR
BOND.
A STOCK IS LIKE A LITTLE TINY
SLIVER OF A COMPANY.
RIGHT.
YOU OWN PART OF THE COMPANY SO
IF YOU BOUGHT LET'S SAY ONE
SHARE OF AMAZON STOCK GRANTED
THAT'S LIKE A GRAIN OF SAND ON
AMAZON'S BEACH.
RIGHT.
BUT YOU OWN PART OF AMAZON A
BOND.
ON THE OTHER HAND, IF THE DEBT
OF A COMPANY OR A GOVERNMENT SO
WHEN YOU'RE INVESTING IN A BOND
IT'S ACTUALLY YOU GIVING A LOAN
TO A COMPANY OR TO A GOVERNMENT
AND YOU MAKING MONEY IN THE
INTEREST OF THAT LOAN.
SO IT'S LIKE YOU'RE ON THE
OPPOSITE SIDE OF OF GIVING A
LOAN AS OPPOSED TO TAKING OUT A
LOAN.
SO WHAT A TYPICAL FINANCIAL
ADVISOR WILL TELL YOU IS THAT
STOCKS ARE MORE RISKY BUT
THEY'RE ALSO MORE REWARDING AND
BONDS ARE LESS REWARDING BUT
MORE STABLE.
SO THAT'S KIND OF THE
DIFFERENCE AND WE ALL OBVIOUSLY
HAVE DIFFERENT WAYS THAT WE CAN
INVEST WITHIN THOSE TWO AS
WELL.
GOT IT.
SO YOU CAN HAVE MULTIPLE STOCKS
AND HAVE FUNDS OF THOSE KIND
OF STOCKS.
IT'S A MIX OF BOTH CAN ALWAYS
BE GREAT.
WE ALWAYS HEAR A LOT ABOUT 401K
IS A LOT OF PEOPLE INVEST IN
FOR ONE BECAUSE YOUR COMPANY IS
HEY DO YOU WANT TO DO THIS AND
YOU SAY YES BECAUSE YOU KNOW
YOU'RE SUPPOSED TO DO IT BUT WE
MIGHT NOT KNOW EXACTLY WHAT
THEY DO.
CAN YOU EXPLAIN, SIR?
YEAH, I HEAR THAT A LOT FROM
CLIENTS BUT I KNOW FOR ONE
CAN'T SUPPORT BUT I DON'T
EXACTLY KNOW WHAT IT IS.
YEAH.
SO FOR ONE K IS AN INVESTMENT
VEHICLE MEANING THAT IT'S LIKE
A BANK ACCOUNT AND YOU'RE
PUTTING MONEY IN AND DECIDING
WHAT INVESTMENTS ARE GOING TO
GO IN THE ACCOUNT.
I HEAR A LOT OF TIMES EITHER
THAT OR K IS NOT INVESTING AND
THAT'S NOT TRUE.
YOU ARE INVESTING WITH PAWLAK
OR THAT YOU'RE SOMEHOW
INVESTING LIKE IN THE 401K
ITSELF THAT THE 401K STOCK OR
THE BOND AND THAT'S NOT RIGHT.
IT'S JUST THE ACCOUNT WITH
WHICH YOU'RE YOU'RE INVESTING
THROUGH.
SO A 401K IS A TAX ADVANTAGED
RETIREMENT ACCOUNT MEANING IF
THE GOVERNMENT IS INCENTIVIZING
YOU TO SAVE FOR RETIREMENT BY
OFFERING YOU TAX BREAKS.
SO IT'S LIKE WHY WOULDN'T YOU
INVEST WITH A BORROW AND PAY
OFF?
THE GOVERNMENT'S GOING TO
INCENTIVIZE YOU TO DO IT AND IF
YOU GET A EMPLOYER MATCH THREE
OR FOUR ONE K THAT MEANS THAT
YOUR EMPLOYER WILL MATCH A
PERCENTAGE OF YOUR
CONTRIBUTION.
SO LET'S SAY YOU GET A THREE
PERCENT MATCH AT YOUR EMPLOYER
THAT IS FREE MONEY.
YOU SHOULD TAKE ADVANTAGE
OF IT.
IT MEANS IF YOU CONTRIBUTE
THREE PERCENT OF YOUR SALARY
THEY WILL DOUBLE YOUR MONEY
AUTOMATICALLY.
WOW.
AUTOMATICALLY. WOW. YOU CAN'T LOSE THERE.
WE'RE TALKING ABOUT INVESTING
WHO IS MOST LIKELY TO BE LEFT
OUT OF THE CONVERSATION?
YEAH, I AM SEEING WITH ALL THIS
,YOU KNOW, NEWFOUND INTEREST
IN INVESTING AND DISCUSSIONS ON
REDDIT AND WITHIN THESE
COMMUNITIES ABOUT THIS KIND
OF DEMOCRATIZATION OF WALL
STREET.
WE'RE SO EXCITED RIGHT, BECAUSE
IT'S LIKE OK, PEOPLE ARE
STICKING IT TO THE HEDGE FUND
MANAGERS.
YOU HAVE A LOT OF THE EVERYDAY
NORMAL KIND OF PEOPLE WHO ARE
INVESTING AND GROWING THEIR
WEALTH BUT WOMEN AND PEOPLE
OF COLOR ARE STILL GETTING LEFT
OUT OF THIS CONVERSATION.
SO YOU HAVE HEDGE FUND MANAGERS
WHO ARE LARGELY STRAIGHT WHITE
MALE AND YOU HAVE A LOT
OF THESE PREDATORS WHO ARE
LARGELY STRAIGHT, WHITE MALE
AND SO THESE COMMUNITIES LIKE
WOMEN, PEOPLE OF COLOR, MEMBERS
OF THE LGBTQ COMMUNITY.
I WOULD ARGUE THAT THESE ARE
THE PEOPLE WHO NEED TO GROW
THEIR WEALTH EVEN MORE, THE
PEOPLE WHO COULD HAVE SOCIETAL
IMPACTS WITH BUILDING THEIR
MONEY THROUGH INVESTING.
BUT UNFORTUNATELY WE'RE JUST
GETTING LEFT OUT OF THESE
CONVERSATIONS.
WE'RE ACTIVELY BEING TOLD THAT
THIS INVESTING YOU THIS
INVESTING LANDSCAPE ISN'T FOR
US, WHICH IS PART OF THE WORK
THAT I DO.
I WANT WOMEN TO FEEL MORE
COMFORTABLE INVESTING AND FEEL
MORE COMFORTABLE HAVING
CONVERSATIONS ABOUT THEIR MONEY
BECAUSE IT'S THE BEST WAY WE
CAN CHANGE THE WORLD.
ABSOLUTELY.
SO WHAT DO YOU THINK ABOUT THE
FUTURE INVESTING INFLUENCERS
YOU MENTIONED?
WILL WE SEE MORE REDDIT FORUMS,
TECH TALKS DEVOTED TO INVESTING
ADVICE AND WHAT ARE THE PROS
AND CONS OF THESE THINGS?
I MEAN OBVIOUSLY I'M A LITTLE
BIT BIASED.
I HAVE A TICK TOCK PRESENCE.
ONE OF THE CREATORS THERE ON
TICK TOCK TALKING ABOUT MONEY,
ONE OF THE THINGS THAT IN ANY
SORT OF ONLINE SPHERE THAT YOU
NEED TO KEEP IN MIND,
ESPECIALLY WHEN IT COMES TO
YOUR MONEY IS MAKE SURE THAT
THE PEOPLE YOU'RE TAKING YOUR
ADVICE FROM ARE CREDIBLE AND
ALSO MAKE SURE THAT THEY SHARE
THEIR VALUES OR SHARE YOUR
VALUE.
EXCUSE ME.
SO IF YOU'RE THINKING THROUGH
YOU KNOW, A PIECE OF ADVICE
THAT YOU SEE ON TICK TOCK OR
INSTAGRAM AND IT DOESN'T FEEL
RIGHT TO YOU OR THE PERSON
WHO'S SAYING IT DOESN'T REALLY
UNDERSTAND YOUR LIFESTYLE OR
DOESN'T REALLY UNDERSTAND WHO
YOU ARE AS A PERSON THAT'S A
HUGE RED FLAG.
RIGHT.
AND AT THE SAME TIME GOOGLE
PEOPLE, RIGHT?
YEAH.
THAT'S A REALLY EASY WAY TO DO
RESEARCH LIKE IF YOU GOOGLE ME
YOU FIND THAT I'M BEEN CREDIBLE
NEWS ORGANIZATION.
RIGHT?
I HAVE A SUBSTANTIAL FOLLOWING.
I HAVE PEOPLE WHO ARE TRUST ME
AND WHERE THERE'S WAYS THAT YOU
CAN FIND SUCH A GREAT SOURCE.
THANK YOU SO MUCH FOR BEING
WITH US.
WE WILL CHECK IN WITH YOU SOON.
MEANTIME, COMING UP NEXT, WHEN
IT COMES TO YOUR FAMILY, YOU'RE
NEVER GOING TO SEE EYE TO EYE
ABOUT EVERYTHING.
BUT WHAT HAPPENS WHEN YOU
WITNESS RACISM