Generational wealth and bridging the racial wealth gap
have been topics discussed heavily throughout the past year as a result of the protests over racial injustice. Since then, numerous organizations have made new pledges to do their part to help the Black community create more wealth for their families. One Black woman used her finance background to create a platform to teach Black consumers how to generate wealth through the stock market.Tiffany James is the founder of the Modern Black Girl
, a digital platform designed to help newcomers learn to use the stock market and other resources on wealth-building and managing a stock portfolio. James says she was inspired to start her business after learning about stocks in her free time driven by her curiosity and sought to create a platform where users can learn the basics.“The stock market is 80% psychology 20% technical,” said James in an email interview with BLACK ENTERPRISE. “Not only do you learn wealth-building tips and how to manage your money but you also learn patience, confidence, critical thinking skills, and leadership.”
James has also been using the audio social app Clubhouse to help provide resources and engaging panels through the app that has helped her reach a new audience.
“When Clubhouse started I would join the guy’s stock rooms and in most cases be the only women in the conversation,” she said. “After a few rooms with the guys, a lot of women begged me to start my own platform back in November. Three months later, we are here with over 94,000 members [who are] primarily women of color.”
The platform also hosts a Teen University
for younger people to learn the basics about the stock markets in addition to classes for adults.