Tori Dunlap

for the average person that's like a 401k if a 401k is not offered that's a IRA which is an individual retirement account and a lot of people tell me oh I want to start investing and I go cool do you have a 401k and they go yeah yeah that's not really investing no it is it's actually the best kind of investing because it's what's called taxed advantaged investing meaning that the government is incentivizing you to save for retirement by offering you tax breaks which is incredible and

The mistake though, I see women make time and time again that I have, I just like, if you've been tuning us out.

I know exactly what you're going to say.

If you're somewhere and you like are half listening to this episode, I need you to dial back in.

Women don't understand that investing is a two-step process.

Because a multi, multi-billion dollar industry exists by making you feel like you're too stupid to understand.

Okay, it is that.

They have built these platforms to be way more confusing than they need to be.

Right.

So that you give your money to a wealth manager-

that, by the way, has no idea what they're doing.

Yeah, they're making you feel like, I can't do this.

Again, I don't have a degree in finance.

Nobody ever taught me this.

So that two-step process is so crucial where you're opening the account, the 401k, the IRA, the brokerage account, which is just a general investing account.

But then you have to choose your investments.

So it's not like a bank account where you just put $1,000 in and you like wipe your hands and you're good.

You have to go choose your investments.

So that account is not the investments.

The index funds or the individual stocks, if you want to go that way, like those are the investments.