Discover how Tori Dunlap, known for her financial advocacy, empowers women to make money work for them without the stress of stock-picking or financial barriers.
When it comes to financial feminism, Tori Dunlap stands out as a prominent figure. As the creator of Her First $100K and the host of the Financial Feminist podcast, she aims to help women not just increase their income but also embrace their financial autonomy.
This week, she joins Jean Chatzky on the podcast to explore the mindset around finances, the impact of perfectionism, and the misconceptions that often make investing seem daunting.
Financial Freedom Equals Choices
Jean Chatzky: Can you share your journey and the key investing insights that guided you?
Tori Dunlap: I transitioned from having $100k at 25 to becoming a millionaire by 27 and then reaching multimillion status at 28. This was no accident; it was a calculated strategy. Entrepreneurship played a role, but investing served as the catalyst for that success. We're often misled to think investing is complex, intimidating, or that we need to rely on others to manage our funds. Those beliefs are false and hinder our progress in closing the wealth gap.
Tori Dunlap: I encourage you to pursue wealth unapologetically, as it provides options. Financial security allows you to escape situations that feel confining or unsafe, enabling you to embrace a more joyful and fulfilling life.
Index Funds: A Smart Choice
Jean Chatzky: Can you elaborate on your investment strategy? Do you favor index funds or individual stocks?
Tori Dunlap: I invest 99.9% in index funds, which surprises many. Index funds offer a smart investment route; they are cost-effective and provide diversification. Instead of chasing individual hot stocks, you can invest in a broad range of companies, ensuring you capture growth while minimizing risks. Even if one stock underperforms or fails, your diversified investments protect you.
Your Money Should Work for You
Jean Chatzky: You've emphasized the importance of systems in achieving financial growth. What do you mean by that?
Tori Dunlap: I've reached a stage where financial matters are no longer a source of stress or constant concern; they work for me. Everything is automated—from my investments to my bills. Understanding what spending feels good or detrimental has been crucial. After years of navigating my financial habits, I can now ensure my money management is on autopilot.
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