“You mean to tell me my money is going to be in the stock market. Whoa….nobody told me this!
The day I found out that a 40IK was not a savings account, I nearly lost it. I was six months in at my first job out of college and I was sitting next to my seventeen-year-old coworker, who somehow got the memo. But, I didn’t.
From that moment on, I promised myself I would never be in that situation ever again! I went on a quest to learn everything there was to learn about money. Stocks, bonds, mutual funds, ETFs, index funds, life insurance, savings, gold….todo!
And let me tell you, it was so boring!
I read Kiplinger’s magazine—even though back then they rarely featured anyone that looked like me; I listened to old white dudes lecture me on audiobooks; and I watched a lot of Jim Cramer, even though his voice annoyed me.
One of the first personal finance books I read was Nice Girls Don’t Get Rich by Lois Frankel. She talks about everything from not planning for unexpected situations to not making your financial well-being a priority. Each chapter is dedicated to a mistake that often keeps women from creating wealth.
Nowadays, I use social media to continue learning about personal finance, but when I was starting out, this little book was a life saver!
Tell me, what are some of your favorite ways to learn about dinero?