May 15th 2024.
Originally published on November 19, 2023, meet Schelo D. Collier, a visionary leader in finance and real estate investment. She is the founder of Black Women Invest, a community of 13,000 members dedicated to empowering Black women to excel in their financial pursuits.
Collier's journey began when she lost her "dream job" and realized that her financial well-being was in her own hands. This realization motivated her to connect with like-minded women who were also on their investment journeys. However, she found a surprising lack of dedicated platforms for Black women, with most groups focusing on saving and budgeting rather than investing. This led her to start Black Women Invest, providing a safe and supportive space for Black women to learn tangible investing strategies together.
With a passion for breaking stigmas around investing, Collier has noticed that many women tend to stick to budgeting rather than taking an active role in investing their money. She believes that this is due to common misconceptions, such as the belief that you need a lot of money to invest. Collier emphasizes the importance of education and consistency, teaching women that even small investments, like $50 a month, can make a difference in their long-term portfolio.
Another common stigma is that investing is like gambling, which Collier believes stems from a lack of knowledge. She encourages Black women to educate themselves and overcome their fear of financial loss by understanding what they are investing in. Through chapters in various cities and an online community, Collier is determined to connect women from all walks of life through Black Women Invest.
For those still skeptical about investing, Collier offers some tips. First, she advises understanding your risk tolerance level by asking yourself questions like how you would react to a significant loss in your investments. Next, she suggests setting specific goals for your investments, such as saving for a house or retirement. This will help determine the best types of investments for you, whether it be in real estate, index funds, or stocks.
Collier also stresses the importance of choosing the right investment strategy for your individual goals and timeline. She shares the example of a woman who wanted to further invest in her stock portfolio but was already at retirement age. After discussing her goals and timeline, they decided that converting her basement into a rental property would be the most profitable option for her. Collier reminds us that investing is not just about stocks, but also about finding the right strategy for your unique situation.
In addition to her work with Black Women Invest, Collier and her partner have launched a series of real estate investment courses, aiming to help more Black couples build their wealth through property investment. Through her leadership and dedication to empowering Black women, Collier is making a significant impact in the world of finance and real estate.
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