For a lot of women, investing can seem like an old boys’ club. The concept of “playing the market” might conjure images of dudes yelling over each other à la “The Wolf of Wall Street.” But this is not at all what investing looks like today — it’s easier than ever for anyone, from any background, to get started. More than easy, it’s crucial for historically disenfranchised groups to build wealth.
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To Tori Dunlap, author, entrepreneur, and the voice behind Her First 100K, investing is the best way women can earn real money. She wants women to “smash” their fears about investing and learn how to navigate the stock market to win. Dunlap argues that having money is one of the best ways for women to protect themselves from bad bosses, bad partners, and a patriarchal system designed to hold them back.
Dunlap adds that women lose millions of dollars over their lifetimes by not investing, so it’s essential to learn how to grow wealth.
Unpacking The Origins of Fear
In a TikTok video about why investing is a feminist issue, Dunlap shared that “the number one reason women don’t invest is fear.” Women are conditioned to believe that investing is too risky, that they’ll make mistakes and lose money. Persistent stereotypes about women and math compound this fear, fostering the belief that investing is overly complicated.
Understanding the root of your anxiety around investing can be the first step in healing your relationship with money while building more confidence all around.
Getting Started is Easier Than You Think
You might think that starting to invest requires mastering complex graphs or giving yourself a crash course in obscure financial jargon. In reality, all you need to do is open an account, like an IRA.
Funding that account is also likely simpler than you imagine. Dunlap emphasizes that you don’t need tens of thousands of dollars. You only need a small amount of money to start funding your account. The most important step is choosing your investments. Dunlap compares this process to the joy of receiving a gift card — except in this case, you’ve gifted yourself the means to grow wealth.
Learning Isn’t as Hard as You Think
In a TikTok about how to get started investing, Dunlap broke down some terms like stocks, bonds, mutual funds, index funds, and ETFs. Tuning into Dunlap’s podcast or reading her book, “Financial Feminist,” is a great place to start, but she’s not the only expert who can simplify investing concepts.
Explore other finance educators through social media, podcasts, or books in your local library to find a voice you connect with. Once you’ve grasped the basics, you’ll feel empowered to spread your wings and explore your investment options.
Remember the Benefits
Having money isn’t just about flaunting it to keep up with the Joneses — or the Kardashians. Dunlap urges women to remember that having money means having options. Financial independence allows you to leave toxic situations and build better ones for yourself, affording you the home and lifestyle you want without having to rely on anyone else to support you.
You also have the freedom to donate to causes that matter to you and support your community in times of need. For Dunlap, who successfully turned her initial $100,000 into millions, this means supporting other women who are starting their own pathways as entrepreneurs and business owners as an angel investor.
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“I have seen firsthand in my own life: when I have money, I have choices. I have options. I have the ability to leave a toxic situation I don’t want to be in anymore,” she said. “I have the opportunity to live in a safe place and drive a car that I know is going to get me from point A to point B and to take a restful vacation and to be able to donate to causes I believe in, and that’s the feeling I want for every single woman.”
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This article originally appeared on GOBankingRates.com: If Women Don’t Invest, They Don’t Make Money: Financial Expert Tori Dunlap Explains
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
