This 27-year-old former stock trader is on track to earn $1 million this year—here's her investing mindset. (via CNBCMakeIt)
before she began investing. Two, she wanted to do a lot of research in companies and funds where she felt her money could grow.
"I'm very cautious," she says. "I have to have the statistics, data and information that help me make an informed decision before I invest.""I refuse to spend money on crypto," Simmons says. "I do believe a digital currency will be permanent and it will stay within our infrastructure. But right now it is highly speculative for me."
Simmons believes cryptocurrency will become centralized eventually, but she doesn't think it will be bitcoin or ether. "I think it'll be a new one entirely," at which point, "yes, of course I will put my money into that new digital currency." Financial experts say cryptocurrency is a risky and speculative investment and that you should only put in what you can afford to lose.Beyond the market, Simmons invests in several women- and Black-owned start-ups in tech and beauty. When backing a business, she looks for a good product, of course — but even more so, she's looking for a strong founder.
"I have the same mindset. Do I believe in the potential of this person to be able to grow their company where they say they're going to go, as well as believe in the product?"who don't have the same access to capital as white men. In doing so, Simmons hopes to "pay it forward" for underrepresented individuals who are "going to be history-makers in the future."
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