November 19th 2023.
Meet Schelo D. Collier, a visionary leader in finance and real estate investment who is revolutionizing the way Black women invest. After losing her "dream job," Collier realized that she had to take control of her own financial future. This led her to launch the 13,000-member community, Black Women Invest.
Collier's mission is to empower Black women to excel in their financial pursuits. With a passion for breaking stigmas and misconceptions around investing, she is determined to make investing accessible to all.
"I was motivated to launch Black Women Invest after my 'dream job' ended abruptly. I was suddenly faced with the realization that my financial well-being was truly up to me," she told BLACK ENTERPRISE. "If I continued to rely on someone else to write my checks, then this situation could happen again. So, I went on a search to find like-minded women who were also on their investment journeys. I desired a supportive community; however, the research revealed a surprising lack of dedicated platforms for Black Women. Instead, I found that more groups were focused on saving and budgeting — not investing. Therefore, I started Black Women Invest to provide Black women with a safe place to flourish and learn tangible investing strategies together."
Collier has seen more women stick to budgeting rather than taking an active initiative in investing their money. She believes that education and consistency are the keys to successful investing.
"Some of the biggest stigmas I hear include the misconception that you need a lot of money to invest, which is far from the truth," she says. "Black women might perceive investing as risky behavior, particularly if they don’t have a good understanding of what they’re investing in. Getting educated helps them to overcome that fear."
With chapters in Miami, Houston, Atlanta, D.C., Charlotte, and an online community, Collier is looking to grow Black Women Invest by connecting women from all facets of life. For anyone still skeptical about investing, Collier offers these three tips: understand your risk tolerance level, set your goals, and choose the right investment strategy for you.
Collier is passionate about helping Black women make informed decisions when it comes to investing. She teaches that even small amounts, like $50 a month, can make a difference in the long-term.
"Investing is not just about stocks," she says. "I had a woman join our group who wanted to invest further in her stock portfolio, but she was already at retirement age. So when we discussed the best strategy for her goals and timeline, we realized that it would make the most sense for her to convert her basement into a new living quarters and rent it out. And that’s precisely what she did, she now rents it out to travel nurses and earns a profit."
Collier is determined to make investing accessible and attainable for Black women. Through her platform, Black Women Invest, she is helping to create a new generation of financially-savvy women.
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