The Investing Starter Kit Blog

Tool 4 used to be the same as Step 4, but we have now updated it. --As soon we start working, we should ideally begin preparing for retirement--I read that somewhere but can’t remember where (which is why you see me hesitating in the beginning of the video! I want to give credit where credit is due, but it made so much sense to me that I guess it just felt like a universal truth! Anyway…) It IS true. Getting started planning for retiring from working early allows time to work

A practice of giving back can inspire us.

Click HERE to watch this week's video Getting good financial advice can be a godsend. It can make a big difference to a person's long term wealth. But of course, we must use discernment. When shopping around for an advisor, anyone can look up the advisor's name on BrokerCheck from FINRA, the organization that regulates the financial industry. That link is below: https://brokercheck.finra.org/ Have you thought about getting a financial advisor? Would you be willing try havin

After the stock market, real estate investing is the next most accessible form of putting money to work, in my opinion. I bought my first apartment in 1996, using the proceeds from the life insurance payout that I had received after my father's death. After living in it, I sold it five years later for double what I had paid for it. Very satisfying. That's an example of the market going up, and I got lucky, to be honest. But something I like about real estate is: if the marke

A quick summary of all 12 tools.

There are SO MANY WAYS to learn about investing. Here are some of our favorite resources (and we don’t get any referrals for this, it’s just a pure recommendation. That said, of course, use your discernment as you research these tools.) Books: Paris Woods, The Black Girls Guide to Financial Freedom (Not just for women!) Instagram account: MGB (has book recommendations) Newsletters: The Motley Fool Magazines: Kiplingers Websites: Investopedia Have you tried any of these? W

Anything we pay attention to, benefits from that attention. The 7th tool in the MGB Investing Starter Kit financial fluency process is to review our finances regularly. If you have started investing , we suggest reviewing those investment quarterly--taking time every three months to take a deeper look and how those investments are coming along. Log into the account and then update the numbers in a spreadsheet to keep track. If you haven't started investing yet, this review co

In investing, one is actually NEVER DONE. There's always something one could do to improve things. ALWAYS. The market is constantly changing, and new innovations keep coming out that can make things better. If we don't stop and acknowledge the progress we have made, it can feel like an endless process. That's why this tool, Celebrating Milestones, is SO IMPORTANT. No one else can do it for us. We have to take stock of how far we have come, and celebrate the victories, big or

A time-honored way to do ANYTHING, mentorship is receiving guidance, advice, support from those who are farther along on the journey than us. When I started my career in acting, a brilliant woman named Dr. Barbara Ann Teer took me under her wing and cast me as Dorothy Dandridge in a one-woman show at her storied company, the National Black Theatre, based in Harlem. I learned so much from being connected with this woman, and her children, Michael and Sade are doing so much to

A financial friendship, a buddy system for improving your money skills.

Ease with money and investing.

Once you've got your Money Journal, what do you do with it? Well, Money Excavations is what we suggest--start to explore your relationship with money. Have you started doing any digging into your money history? Let me know in the comments! And as always, thanks for reading this. Quick Links: Step 1 in the MGB Investing Starter Kit process is HERE Step 2 is HERE --Keep a Digit Tally, like You Need A Budget or RocketMoney or our free tracker HERE Step 3 is HERE What is Inv

We can 'write our own deliverance' by using the tool of a ' money journa l' to document our process. Have you bought a new notebook for your investing journey? Let me know in the comments! And as always, thanks for reading this. Quick Links: Step 1 in the MGB Investing Starter Kit process is HERE Step 2 is HERE --Keep a Digit Tally, like You Need A Budget or RocketMoney or our free tracker HERE Step 3 is HERE What is Investing? is HERE What is The MGB Investing Starter Kit