Investing strategy of a 27-year-old former stock trader earning $1M
Lauren Simmons received a crash course in the financial world after she was named the youngest full-time female traderThe New York Stock Exchange was 22 years old in 2017.
Simmons, who is 27 years old, left Wall Street in order to start her own business. Earned $650,000 last yearIt is projected to earn $1 million through speaking engagements, brand partnership, book and movie sales, as well hosting the streaming TV show “.Going Public.”
Simmons shares that despite spending nearly two years on the trading floors, she “didn’t begin investing until the March 2020 crash and I don’t regret it,” CNBC Make It.
Simmons claims that she was told by a number of traders at the NYSE Floor that they don’t invest in stocks. Simmons says many traders have experienced at least three to four recessions. They believe you cannot beat the stock market.
Simmons was working at the NYSE herself, but she earned just $12,000 a yearBy living at home with her family instead of going out, she managed to save over 85%. She didn’t prioritize investing her money, and she wasn’t interested in using her subway cards.
Simmons, who opened a brokerage with approximately $300 in the spring 2020, changed that. The account currently has $6,000.
If it is comes to investingSimmons believes in two things. First, she needed to ensure she had good financial health and was able to afford to live. cover her basic expensesBefore she started investing. Zwei, she was interested in researching companies and funds that could help her grow her wealth.
She says, “I am very careful.” She said, “I need to be able to access the data and statistics that will help me make informed decisions before I invest.”
This mindset means that she avoids cryptocurrency.
Simmons states, “I don’t want to spend any money on cryptocurrency.” I believe digital currencies will last forever and be part of our infrastructure. It is still highly speculation for me right now.”
Simmons is positive that cryptocurrency will one day be centralized, although she doubts it will ever be bitcoin or Ethereum. It will “be a completely new one,” Simmons said. “Yes, I will invest my money in that new digital currency.”
According to financial experts, cryptocurrency can be a risky investment that could lead to losses.
Simmons is an investor in many Black-owned and woman-owned companies in beauty and tech. When backing a business, she looks for a good product, of course — but even more so, she’s looking for a strong founder. Simmons compares it to how people are attracted to Tesla’s vision because they trust in Elon Musk.
“I share the same outlook. Are you a believer in this person’s potential to build their business to where they want it to go?
Simmons loves backing. women- and minority-led foundersThey don’t enjoy the same capital access as white men. Simmons is attempting to pay it forward by assisting underrepresented persons who “will be history-makers” in the near future.
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