For some reason, conversations about money seem taboo among most women. However, sharing the wealth creates financial literacy and makes way for others to create a legacy of financial freedom most of us dream about.
No matter where you are in your career path, it is never too early to start investing. In fact, ordinary people become wealthy by making the decision to do a little bit as they go.
If you are ready to start investing, there are a few prerequisite steps you should take. First, you'll want to learn the full gamut of benefits offered by your job. Sit down with your manager or human resources representative to get the rundown on whether your company offers a 401(k) plan, as well as the contributions made by the company to that 401(k).
Next, it's a good idea to understand various investment options offered outside of work and determine which ones are a good fit for you. Below are 7 types of investments all girl bosses should know about. These investments build upon each other to give you a better understanding of the big picture. Put the knowledge of each one together and you're one step closer to learning how to invest like a boss.
7 Types Of Investments To Build Wealth
1.Savings Account:
Getty Images
Savings accounts are used to store cash while also earning interest on the money deposited into the account. Usually, the interest rate provided by the bank is no more than 2%. When used over the long-term, savings accounts grow your money while also helping you put funds aside for important matters that arise in the future. Experts encourage individuals to save 3-6 months of expenses in a savings account in case of an emergency.
Feature image by Getty Images.
Originally published on January 1, 2019
- Getting To The Bag With Wall Street Rapper Ro$$ Mac - xoNecole ... ›
- An Expert Gives 3 Crucial Tips For Building Wealth In The Black ... ›
- Why Generational Wealth Is The Ultimate Form Of Securing The Bag ... ›
- The Black Woman's Guide To Building Generational Wealth ... ›
- The Black Woman's Guide To Building Generational Wealth ›
- Money Expert Jamila Souffrant Shares Her Financial Independence ... ›
- #BudgetBae: 4 Tips On Building Your Wealth From A Financial Pro - xoNecole: Women's Interest, Love, Wellness, Beauty ›
- Investing 101: How to Start Investing | Chris Hogan ›
- What is Wealth Building & How to Get Started | FortuneBuilders ›
- The 7 types of accounts you need to accelerate your wealth ... ›
- 9 Ways To Build Wealth Fast (That Your Financial Advisor Might Not ... ›
- A Finance Expert Explains 7 Types of Investments | MyDomaine ›
- The 7 Types Of People Who Never Succeed At Work ›
RELATED
They inspire ongoing advocacy for women's rights, fostering discussions on issues such as workplace discrimination, healthcare access, and representation in leadership. By celebrating women's contributions and amplifying their voices, these observances help pave the way for a more inclusive and equitable future.
Here are four ways to celebrate International Women's Day and Women's History Month.
Attend a Women History Month Event
This month, there are numerous events happening, particularly for International Women’s Day. One such event is organized by Media Girls Network, which will be held over a multi-day period starting on Thursday. The entire event is dedicated to celebrating women.
On Friday, the organization will honor prominent women in business and entertainment, including the OMG Girlz, celebrity restauranteur Gocha Hawkins, and more.
On Saturday, guests can indulge in a day of wellness and self-care, featuring a fitness class, massages, a journaling workshop, and other activities. For more information about these events, visit www.mediagirlsontour.com.
Support a Woman-Owned Business
Harbucks/ Getty Images
Reports indicate that women constitute 39.1% of business owners, and this percentage is steadily rising. In light of this, let’s celebrate and support women-owned businesses this month.
Here are a few ways to do so: shop at their establishments, leave positive reviews, follow and engage with them on social media, collaborate with them, or contribute to their crowdfunding efforts.
Support Women's Rights Groups
Carlos Barquero/ Getty Images
Since President Trump took office, we’ve witnessed an unprecedented number of rights being reversed, including DEI programs. Women have been particularly concerned about his decision regarding abortion and reproductive rights. Recently, he dismissed the Idaho Emergency Abortion case, which was a legal battle to ensure Idahoans had access to emergency abortion care.
Writing in her Substack blog, Abortion, Everyday, journalist and abortion rights advocate, Jessica Valenti, said, “By dropping this case, the Trump administration is sending a clear message that anti-abortion states don’t have to adhere to [the Emergency Medical Treatment and Labor Act] by giving pregnant patients life-saving care.”
Instead of waiting on Trump's next move regarding women's rights, support women's rights organizations and charities like In Our Own Voice Action Fund and Planned Parenthood.
Empower Others
Xavier Lorenzo/ Getty Images
Use your voice to raise awareness about the challenges women encounter. This can be achieved through social media platforms or by speaking at local rallies and events. By leading by example, you can inspire others to get involved and contribute to the support.
Let’s make things inbox official! Sign up for the xoNecole newsletter for love, wellness, career, and exclusive content delivered straight to your inbox.
Feature image by izusek/ Getty Images