When you think of financial feminism, Tori Dunlap is likely one of the first names that comes to mind, and for good reason. As the founder of Her First $100K and host of the Financial Feminist podcast, she’s on a mission to help women not only make more money but also claim their full financial power unapologetically.
This week on the HerMoney Podcast, Jean Chatzky is joined by Tori Dunlap. Together, they dive into the psychology of money, why perfectionism keeps women stuck, and the sneaky myths that make investing feel scarier than it needs to be.
Money Means Options
Jean Chatzky: Walk us through your journey. What were the most important investing lessons that helped you get on that road?
Tori Dunlap: I went from 100k at 25, to being a millionaire at 27, to multimillions at 28… And that wasn’t accidental. That was very strategic. One, it was entrepreneurship. But investing was also that rocket ship behind that growth. We are told all of these narratives around investing that it’s too complicated or too scary or that we should hand over our money to somebody else to manage it for us, and none of those things are true. And unfortunately, it’s leaving us behind in terms of the wealth gap, in terms of our own financial agency.
Tori Dunlap: I want you unabashedly pursuing wealth, because wealth means options. Having money means options for your life and choices. So you never have to stay in a situation that makes you feel stuck or unsafe, and you can put yourself in situations that make life so joyful and healthy, and exciting.
Index Funds Are A Girl’s Best Friend
Jean Chatzky: Let’s talk about your investing philosophy. Are you indexing everything? Are you picking individual stocks? What’s your personal mix?
Tori Dunlap: I am 99.9% in index funds, and I think that shocks a lot of people. Index funds are a great way to invest, especially because they’re diversified and they’re low-cost. So, rather than trying to cherry-pick the hot stock, you can basically choose from hundreds, if not thousands, of different companies and have the hot stock every time. But also, if you know stocks underperform or if a certain company goes bankrupt, that doesn’t affect you as much. Diversified investment has not lost so far. It never has.
Your Money System Should Work While You Sleep
Jean Chatzky: You’ve talked a lot about systems and systems being the secret to financial growth. What do you mean?
Tori Dunlap: You can get to a point, and I know because I’m living it and I’ve watched other people live it, where the money is not stressful or the money is not even top of mind, and you’re not having to actively work to grow your money because it’s all happening for you.
Tori Dunlap: My investing is automated, my bills are automated. I know what feels good when I spend money and what doesn’t feel good. I’ve spent years figuring out how that feels inside my body when I spend money in a way that’s just to help me cope versus something I actually want. And so when you’re fluent in money, when you have the system set up to support you, it’s not an active choice every single day. You don’t have to actively go, okay, I have to set up my money here, and I have to invest here, and I have to do this. It’s happening on autopilot for you.
… Does more financial confidence sound good to you? We thought so! We’d love for you to join us at our two all-star hands-on financial wellness programs:
🚀 FinanceFixx – HerMoney’s 4 or 8-week Money Makeover financial coaching program that will help you get your finances on track!
📈 InvestingFixx – HerMoney’s investing club for women who are ready to learn market lingo, and grow their wealth. Your first month with us is completely free!
MORE ON HERMONEY:
- HerMoney Podcast Episode #277: How To Make Your First $100k
- 13 Women On Where They Keep Their Emergency Funds (and Why They Love HYSAs)
- These Two Examples Illustrate the Magic of Compound Interest
More money news when you need it! Get the latest and greatest updates on all things investing, budgeting, and making money. Subscribe to the HerMoney newsletter at Hermoney.com/subscribe!
