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Speaker 1: It's way up at Angela Yee. I'm Angela Yee and

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Speaker 1: my Wealth Wednesday partner, Stacy Tisdale is here today.

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Speaker 2: Happy Wealth Wednesdays, everybody, Happy National Financial Literacy Month. And

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Speaker 2: we are going to make you all very literate in

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Speaker 2: the stock market, so we don't miss this next bull

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Speaker 2: market with the one and only Cassandra Cummings, who is

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Speaker 2: the founder of the Stocks and Stiletto Society, which is

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Speaker 2: a group of over one hundred thousand black female investors,

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Speaker 2: and she's also the author of Fearless Finance, a timeless

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Speaker 2: guide to managing month to building wealth.

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Speaker 1: Always a pleasure to have you, by the way, such

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Speaker 1: an amazing community. When I went to her event in Vegas,

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Speaker 1: I met so many people that I keep in touch

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Speaker 1: with to this day. Really, you know, and I think

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Speaker 1: things like that are so valuable because you want to

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Speaker 1: be around people who are interested in the things that

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Speaker 1: you're interested in. In the conversations that we were able to have,

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Speaker 1: I mean, I met angel investors, hotel owners, all black

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Speaker 1: women you know at this event. So yeah, it's incredible.

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Speaker 2: So you have first of all, tell everybody about Stocks

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Speaker 2: and Stiletto Society. It's over one hundred thousand.

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Speaker 1: The fastest going online community for women investors. Yes, it is.

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Speaker 3: So. I started the community about eight years ago, and

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Speaker 3: I really just wanted to teach women how to buy stock,

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Speaker 3: how to buy and sell stock in the stock market,

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Speaker 3: because when I was with the firm, a lot of

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Speaker 3: my clients didn't look like me, and I'm like, you know,

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Speaker 3: we have to be at this table. We need to

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Speaker 3: see at this table. And so that's what really prompted

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Speaker 3: me to start the community, and the community has grown.

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Speaker 3: We actually reach about a quarter of a million people. Wow, yeah,

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Speaker 3: that's what Facebook says.

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Speaker 1: That's great.

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Speaker 2: How did you get that many black women to invest

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Speaker 2: in stocks when you consider sixty percent of black women

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Speaker 2: in this country are not invested at all.

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Speaker 3: I know, I was so shocked to see that statistic.

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Speaker 3: Sixty percent of black women are not investing in the

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Speaker 3: stock market.

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Speaker 1: And I think it has to do.

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Speaker 3: With creating a sort of sorority around money and around stock.

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Speaker 3: So there's a sisterhood that we've created around the stock market,

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Speaker 3: and who wouldn't want to be a part of that, right?

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Speaker 1: Yeah? And I think also a lot of it has

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Speaker 1: to do with the conversations that you are having like

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Speaker 1: when you're going to brunch, are you talking about, oh,

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Speaker 1: you know, I just did this. And then I also

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Speaker 1: feel like sometimes we feel that we don't have the

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Speaker 1: extra money to be able to invest. I know, you know,

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Speaker 1: there were times in my life when I was trying

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Speaker 1: to figure out how I'm going to pay all my

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Speaker 1: bills every single month. And when you're in that space,

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Speaker 1: sometimes you're like, I don't have the extra money to

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Speaker 1: be able to invest in the stock market. I got

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Speaker 1: to hold down my family. When I do have extra money,

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Speaker 1: I'm trying to make sure that, you know, the family

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Speaker 1: is good, the kids are good. I want to take

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Speaker 1: them on a trip. I want to make sure they

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Speaker 1: get nice things.

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Speaker 2: Right, you don't need to be rich to invest the

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Speaker 2: first stuff.

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Speaker 1: Yeah, you don't have to be rich to invest.

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Speaker 3: And I think inside of the community, what happens is

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Speaker 3: that you get that proximity to success. So you see

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Speaker 3: the women making strides. They're starting with two hundred dollars

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Speaker 3: and growing their accounts to twenty thousand dollars, and that's

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Speaker 3: inspiring other women to also know that they can do

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Speaker 3: it as well. And so I think the community itself

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Speaker 3: we just sort of feed off each other because success

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Speaker 3: leaves clues and success is contagious. So that's what we

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Speaker 3: do in the community.

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Speaker 1: And you send out some great email updates too. Now,

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Speaker 1: the last one had to do with beyond Oh yes,

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Speaker 1: Cowboy Carter album and some of the investing secrets that

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Speaker 1: we got from Beyonce's album. So can you talk about

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Speaker 1: that a little bit here since we're all on the

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Speaker 1: Cowboy Carter wave right now.

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Speaker 3: Yes, yes, So Beyonce is always dropping gems and the

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Speaker 3: Cowboy Carter album is no different. But there are three

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Speaker 3: things that I shared with the community today about her

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Speaker 3: investing lessons that she can pass on to people who

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Speaker 3: are kind of watching her. So the first one is

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Speaker 3: self belief, like really having believed that she could do

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Speaker 3: a coy album to really sort of like buff the

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Speaker 3: system and cross over into a whole different genre. And

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Speaker 3: so I think that has to be applied to you

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Speaker 3: as well when you're investing.

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Speaker 1: Get out of your comfort zone.

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Speaker 3: Get out of your comfort zone. So let's not be

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Speaker 3: scared to get this money, That's what I'm saying. And

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Speaker 3: Beyonce is not fearful of any of that. She's going

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Speaker 3: to go for what she wants. The second one is

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Speaker 3: about consistency. She's on her eighth solo album, so she

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Speaker 3: is definitely sticking to it. She's got stintuitiveness, she's determined, tenacity.

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Speaker 3: All of that needs to also get carried over to

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Speaker 3: when you're investing. You can't expect to invest for two

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Speaker 3: weeks and make a million dollars starting with five hundred

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Speaker 3: dollars and even in.

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Speaker 1: The midst of starting a family, having children, going through

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Speaker 1: whatever she went through with her husband, because she talks

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Speaker 1: about that in her music as well, but still making

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Speaker 1: sure you have that consistency right.

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Speaker 3: And I think the third thing that's really key is collaboration. Now,

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Speaker 3: she was not a country singer, but she aligned herself

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Speaker 3: with other key black country artists and even you know,

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Speaker 3: other country artists Mighty Cyrus, you know, she did a

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Speaker 3: collab with her. But collaborating with people are going to

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Speaker 3: you know, they're going to help you get to your

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Speaker 3: goals that much faster. So just think this album is

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Speaker 3: so good because of these collaborations, and that's what we

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Speaker 3: need to apply when it comes to investing.

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Speaker 2: In honor of Miss Carter, let's stick it back, let's

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Speaker 2: stick with this comfort zone thing. That's what we were

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Speaker 2: just talking about this in the green room, how it's

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Speaker 2: the same for not as affluent blacks, but if you

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Speaker 2: look at affluent blacks and affluent whites, And the study

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Speaker 2: I was looking at was people who are of a

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Speaker 2: networth of seven hundred thousand dollars, So whites have eighty

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Speaker 2: to ninety percent of all of their assets and stocks.

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Speaker 2: The blacks have that in real estate, right, And we

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Speaker 2: were talking about that.

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Speaker 1: What are your thoughts on that?

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Speaker 3: So my thoughts on that Why the numbers skew so

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Speaker 3: differently between whites and blacks when it comes to the

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Speaker 3: stock market. I think it's because we've been led to

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Speaker 3: believe that real estate is really where the money is.

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Speaker 3: And I'm not putting real estate down. There's definitely a

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Speaker 3: lot of wealth in real estate.

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Speaker 2: That goes ways back. We used to be property, since

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Speaker 2: way back when we've been told you've made it when

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Speaker 2: you made it.

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Speaker 1: When you own a home and go in touch and

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Speaker 1: they want to walk up the house, put the key

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Speaker 1: in the door.

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Speaker 3: They can touch it. Stocks not so much, right, but

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Speaker 3: you can see that money on paper, right, So it's

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Speaker 3: a little different. But stocks tend to appreciate at a

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Speaker 3: much faster rate than real estate depending on where you

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Speaker 3: are New York, California, the coastal states a little different,

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Speaker 3: but the interior states. The real estate's not appreciating nearly

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Speaker 3: at the same rate as the stock market. We're hitting

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Speaker 3: all time highs with the S and P five hundred,

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Speaker 3: all time house highs with the Dow Jones. We cannot

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Speaker 3: miss out on this because the wealth gap is only

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Speaker 3: going to get wider if we don't get in the game.

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Speaker 2: Talk about that because Cassandra's work is for everybody, and

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Speaker 2: I urge everybody to get her book for less finance

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Speaker 2: especial obviously affinity for black women. Seventy percent of Black

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Speaker 2: women are heads of household, responsible for all of their

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Speaker 2: family members well being, taking care of friends and family.

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Speaker 2: What happens if they don't invest?

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Speaker 3: Wow, I mean, I hate to think about that, but

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Speaker 3: if they don't invest, life is going to be so

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Speaker 3: much more difficult. I was reading something on the Wiser

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Speaker 3: website before I came in Wiser Women's Institute for a

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Speaker 3: Secured Retirement. If you can make it to sixty as

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Speaker 3: a woman, you're going to make it to eighty four.

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Speaker 3: So just think about being able to finance that time

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Speaker 3: period from time you term sixty to eighty four, right,

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Speaker 3: that's another twenty four years that you have to actually finance.

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Speaker 3: Who wants to be working from sixty to eighty four

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Speaker 3: trying to you know, keep your lights on or keep

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Speaker 3: food on the table. So you have to sort of

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Speaker 3: at least find ways to invest so that your money

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Speaker 3: can work for you when you can't.

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Speaker 1: You know, when we talk about that too, as people

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Speaker 1: are getting older. I was reading some somebody had a question.

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Speaker 1: She was like, look, I am fifty two years old

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Speaker 1: and I've never invested. And now she's concerned because a

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Speaker 1: lot of people don't have any investments or they're at

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Speaker 1: the time and they have to start really retirement as

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Speaker 1: around the corner. What would you tell somebody that's like,

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Speaker 1: I've never invested in it, I don't even really have

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Speaker 1: any spare money, because that is a time when you

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Speaker 1: can't take huge risks. But you got to do something right.

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Speaker 3: You definitely have to take some risk, and women typically

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Speaker 3: are risk at verse. We got to get over that

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Speaker 3: because our money is just not going to work for

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Speaker 3: us if we put it in a CD or put

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Speaker 3: it in a savings account.

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Speaker 1: But fifty two.

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Speaker 3: You actually still have time, plenty of time money, and

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Speaker 3: you got ten years. A lot can happen in ten years.

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Speaker 3: And I know if you can make it to one

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Speaker 3: hundred thousand in your savings, then it's easier for that

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Speaker 3: money to start compounding and really multiplying itself. So I say,

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Speaker 3: get to the first hundred thousand, get that out the way.

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Speaker 3: Then if you can get to the first seven figures,

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Speaker 3: oh my god, the compounding effect on your money is

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Speaker 3: going to be astronauts.

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Speaker 1: But how do you get to the first hundred thousand.

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Speaker 3: Get to the first hundred thousand, You probably have to

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Speaker 3: have at least two to three strings of income. So

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Speaker 3: if you only have one W two income, you're gonna

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Speaker 3: have to get at least one other side hustle. I mean,

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Speaker 3: this is the nature of the beast. This thing you

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Speaker 3: know that we're living in the economy is moving so

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Speaker 3: much faster. We got AI, we got a whole bunch

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Speaker 3: of other things that are happening where we have to

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Speaker 3: make money much faster than we ever had to make before.

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Speaker 1: Wow.

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Speaker 2: So a lot of people don't realize when they think

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Speaker 2: about the stock market, they think of risk. The US

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Speaker 2: stock market over time averaging out the ups and downs

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Speaker 2: has averaged about a nine percent return every year, and

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Speaker 2: you just can't beat that anywhere else. But to Angela's point,

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Speaker 2: early year, where can people begin?

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Speaker 3: I mean you can begin with the mag seven, the

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Speaker 3: Magnificent seven, right, that's your Apples, your Amazons in video,

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Speaker 3: Netflix Meta, you know, so start with the Max seven.

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Speaker 3: The Max seven alone returned seventy percent last year.

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Speaker 2: I know in Vidia, I have a video I have

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Speaker 2: in video in my stash.

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Speaker 1: I thought you woant have invested one thousand dollars in

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Speaker 1: two thousand and five, and you would have had.

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Speaker 3: One hundred and twenty thousand dollars.

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Speaker 1: I saw that one too. It was more than that.

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Speaker 1: In two thousand and five.

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Speaker 2: You would invested that last week you would.

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Speaker 1: Have And that's what you don't know if it's too

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Speaker 1: like because people are like, oh, it's too late, but

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Speaker 1: it's not too late because they feel like, man, I

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Speaker 1: kind of missed that wave of investing because you know,

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Speaker 1: they always say, you don't investment, it's at a peak investment.

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Speaker 2: Things are low and consistently. The very first UH interview

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Speaker 2: I did with Angela and when we decided to start

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Speaker 2: Wealth Wednesdays That was my messaging, you don't need to

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Speaker 2: be rich to invest.

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Speaker 3: Right.

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Speaker 2: When I was on the air, I mentioned that my

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Speaker 2: son turned me on to micro investing because he had

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Speaker 2: a little He asked me for my debit card for

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Speaker 2: acorns okay, and I gave it to him. And then

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Speaker 2: a couple months later I looked and there's one thousand

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Speaker 2: dollars in this account and I'm like, what are you doing?

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Speaker 1: Yeah, what are you doing here?

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Speaker 2: And he asked me on top of that instead of allowances, well,

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Speaker 2: in addition to allowances, I should say, he adds like

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Speaker 2: forty dollars a month to it.

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Speaker 3: Nice.

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Speaker 2: Can you believe that account? I wanted to tell you

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Speaker 2: that it is twenty eight thousand dollars. It's investing spare change,

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Speaker 2: so getting an app rounding up. There's so many ways

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Speaker 2: to participate in this market now.

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Speaker 1: And he's just in college now, so that's great.

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Speaker 2: I know that's just from taking my debit card. And

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Speaker 2: when I went to see him over the holiday weekend

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Speaker 2: and we were looking at it, and I'm like, that's

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Speaker 2: money I would have just never thought of. It's, you know,

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Speaker 2: spare change. Yeah, there's so many ways to make money,

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Speaker 2: and I know you have a free initiative for people

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Speaker 2: called Spring into Stocks.

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Speaker 1: Yes, talk about that. I'm excited.

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Speaker 3: Spring into Stocks is our free spring stock market event

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Speaker 3: that we're doing. And so we're basically taking a letter

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Speaker 3: out of every I'm sorry, we're taking spring and we're

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Speaker 3: breaking it down. Each letter stands for something. So S

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Speaker 3: is going to be for stock basics. We're going to

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Speaker 3: show you how to get into the market. P is

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Speaker 3: for passive income. We're gonna show you how the stock

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Speaker 3: market can help you make passive income. R is for

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Speaker 3: reads real estate investment trusts, how you can basically have

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Speaker 3: digital real estate. And then I is for index funds.

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Speaker 3: We're gonna go over index funds. In is for stocks

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Speaker 3: you need to own now, stocks you should have in

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Speaker 3: your portfolio now. And then G is gonna be for

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Speaker 3: graphs and charts. How do you actually read charts? What

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Speaker 3: are some of this you know, mystical stuff that you

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Speaker 3: see on charts. We're going to break that down for you.

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Speaker 3: So Spring into Stocks no gate keeping here. We're gonna

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Speaker 3: actually you know, and it's free.

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Speaker 1: It's free, it's.

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Speaker 2: Free, and all you have to do to get it

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Speaker 2: is follow Cassandra. We'll follow stocks and stilettos on Instagram.

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Speaker 1: And she is about trying to say money because she

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Speaker 1: came in here and I showed her some bookshelves, like

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Speaker 1: I was like, I love these bookshels, but they're so expensed.

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Speaker 1: You say, girl, you can go to a Kia, get

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Speaker 1: some LED lights put it back. She said, that's a

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Speaker 1: hack right there, hack, but it is true. There's certain

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Speaker 1: things that you have to think, like when you're splurging,

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Speaker 1: you have to make sure that what you're splurging on,

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Speaker 1: you know the value that it holds, is it worth it?

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Speaker 1: And you know, for me sometimes I'm like, I just

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Speaker 1: like how that looks. But there are ways to get

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Speaker 1: things done where you it can just look like you splurge.

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Speaker 3: When you got it, you can ball out right so.

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Speaker 1: Right now or as I like to say, I'm a

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Speaker 1: little cash poor at the moment. Mindset does matter and

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Speaker 1: into existence, you know.

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Speaker 3: It's huge, I mean, and you just have to be

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Speaker 3: practical about some purchases. Right, do you really have to

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Speaker 3: spend you know, five thousand dollars on a book case?

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Speaker 1: Hower than that? Okay?

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Speaker 3: I mean, but you know you can spend two thousand

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Speaker 3: and save the other eight or whatever, and do something different,

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Speaker 3: you know. So it's just really about perspective, mindset, things

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Speaker 3: like that.

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Speaker 1: But and like you said, it is financial Literacy month,

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Speaker 1: and it is also tax time, tax time, you know, yeah.

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Speaker 2: Take some of that refund, but really putting small amounts

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Speaker 2: to work and dollar something called dollar cost averaging, which means,

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Speaker 2: no matter what the market's doing, you put the same

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Speaker 2: amount in. Like once a month, I have an extra

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Speaker 2: forty dollars taken out of my bank account and just

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Speaker 2: put into one of these investment apps. That's how you

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Speaker 2: really build wealth.

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Speaker 3: And that's key to you know, putting it on autopilot

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Speaker 3: because that way you don't have to think about it,

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Speaker 3: and if you can do that, or if you know

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Speaker 3: you're in real estate, you get commission check. Just no

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Speaker 3: off the top, I'm putting ten percent over here in

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Speaker 3: this account. Just really creating those habits for yourself. You

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Speaker 3: talk about starting small. There are a lot of companies

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Speaker 3: that are going to be doing stock splits. We just

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Speaker 3: had Walmart do a stock split. We recently had Tesla Apples.

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Speaker 3: So basically what happens is that they give you if

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Speaker 3: you have a share and they say it's going to

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Speaker 3: be a two for one split. You'll now have two shares,

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Speaker 3: but it will have the same value as that one

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Speaker 3: share had. So if you had a share that was

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Speaker 3: one hundred dollars and they're going to do a two

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Speaker 3: for one split, now you'll have two shares that are

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Speaker 3: worth fifty dollars. And so we have Chipotle, believe it

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Speaker 3: or not, Chipotle, it's a three thousand dollars a share

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Speaker 3: stock and it's about to do a fifty to one split.

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Speaker 3: So do you if you do the math, it's going

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Speaker 3: to be about sixty dollars I think, right, a fifty

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Speaker 3: to one split.

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Speaker 2: Yeah, Chipotle at sixty dollars is a buy.

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Speaker 3: It's a huge buy. And so you have to pay

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Speaker 3: attention to these types of things. We talk about these

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Speaker 3: things in our community. Redd it just went public, right,

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Speaker 3: So we talk about companies that go public.

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Speaker 1: Should we get in?

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Speaker 3: What price should we get? So all these conversations are

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Speaker 3: taking place inside of the community.

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Speaker 1: A truth Social talk to me about that, because we

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Speaker 1: saw Donald Trump to truth Social public and now they're

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Speaker 1: saying the value of it drops a billion.

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Speaker 2: Dollars, never worth anything?

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Speaker 1: Yeah, how that works? Because I was trying to figure

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Speaker 1: that out because at first they were like, we're to

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Speaker 1: social going public, Donald Trump is going to be worth X,

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Speaker 1: Y and z. Then it did, and then it dropped

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Speaker 1: like incredibly.

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Speaker 2: Now you're getting into very sophisticated stuff that's kind of spack. Okay,

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Speaker 2: right because I as a special purpose acquisition essentially because

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Speaker 2: it doesn't deserve more than ten seconds.

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Speaker 1: No, the facks are some spacks are great.

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Speaker 2: But suppose an investment company. I'm Donald Trump and I

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Speaker 2: go to an investment company and I said, I have

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Speaker 2: you know this thing, the investment company can be public.

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Speaker 2: So by them acquiring his company, he all of a sudden,

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Speaker 2: it's almost like a shortcut to being public. But it's

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Speaker 2: still not. If it's still not a good company the mark,

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Speaker 2: it's gonna devalue it immediately. It was never.

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Speaker 1: It was never. It was definitely not what it was

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Speaker 1: way because you were talking about how much money to

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Speaker 1: Social laws last year. Yeah, so they're like, there's no

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Speaker 1: way it's worth.

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Speaker 3: And that's why it's important that you have to do

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Speaker 3: your research. You have to do your own due diligence.

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Speaker 3: A lot of these companies can almost move like penny stocks,

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Speaker 3: where you have this you know, pump and dump, you know, right,

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Speaker 3: things happening to the stock or pop and drop where

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Speaker 3: it shoots up, people run and get their money out

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Speaker 3: and then you're left once it drops. Right, So you

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Speaker 3: have to really be careful about those types of stocks,

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Speaker 3: especially when they're mean stocks or hot stocks. You know,

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Speaker 3: they have a tendency to have really large fluctuations and volatility.

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Speaker 3: So you know, so the best thing really is stocks

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Speaker 3: that we use every day.

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Speaker 1: Yes, stick with what you know?

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Speaker 2: Right?

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Speaker 3: Who that burritos three thousand dollars.

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Speaker 1: To share it?

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Speaker 3: Right?

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Speaker 2: Do I have to know how to invest to become

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Speaker 2: a member of the Stocks and Stilettos Society?

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Speaker 3: You don't. We start with where you are. So we

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Speaker 3: have women who have never bought stock to women who

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Speaker 3: have seven, you know, seven figure portfolios. So we really

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Speaker 3: sort of you know, it's.

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Speaker 1: Like a Montessori school. Everybody each other different, all different levels.

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Speaker 3: Right.

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Speaker 2: How do people join?

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Speaker 3: So they can join the Facebook group by going to

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Speaker 3: bit dot lee Stocks and Stilettos. And if you're not

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Speaker 3: able to join inside the group, you can follow us

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Speaker 3: on Facebook just our page, so that's open to everybody.

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Speaker 1: Okay, is one L two ts? Yeah? About Cassandra and

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Speaker 1: mentorship is so important in community is so in partant inside.

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Speaker 1: Appreciate what you've been doing.

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Speaker 3: Thank you. I appreciate that you do.

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Speaker 2: And what is a message that you have for our

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Speaker 2: audience on this financial literacy month? You are our first

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Speaker 2: Wealth Wednesdays of the month.

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Speaker 1: Oh wow, pick the book up Fearless Finance.

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Speaker 2: Fearless Finance Stanta coming. That's on Amazon to grab the book.

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Speaker 1: You know.

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Speaker 3: My message I would want to leave is, you know,

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Speaker 3: if things get really hard, just continue to push through

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Speaker 3: and to always always take care of your own money.

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Speaker 3: You are going to be the best thing to ever

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Speaker 3: happen to your money. No one will ever take care

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Speaker 3: of your money like you will.

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Speaker 1: Okay, yeah that's a fact.

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Speaker 2: And follow Stocks and Stiletto's on Instagram and you get

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Speaker 2: all of her information. It's a it's a great content.

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Speaker 2: I love your content.

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Speaker 1: Yes, thank your way up on a Wealth Wednesday. Well