Jully-Alma Taveras’ story is inspiring and extremely important for the millions of Latinas who feel the urge to change their future. And knowing that Latinas earn 55 cents for every dollar a non-Hispanic white male earns, financial education is key.
Jully-Alma Taveras is a Plutus Award-winning, bilingual (Spanish) personal finance expert. She writes for CNBC, Time’s Next Advisor, HuffPost, and others on money topics ranging from saving to investing.
On her YouTube channel, she tells money stories from the point of view of a Dominican-born immigrant living in New York who went from shopaholic to savvy spender and diligent investor. Her philosophies on money have inspired thousands of women to live minimally and spend intentionally so that they can invest more.
The key? Losing the fear.
“Get started, get rid of the fear because I know it can seem very scary at first,” Taveras tells Hispanic women. “Because we hear those ideas from previous generations that it’s risky, we don’t do it,” Taveras told Yahoo Finance.
And if anyone knows the power of paradigm shifts, it’s Taveras.
She is a sought-after Fortune 20 speaker and facilitator who has led workshops at Nasdaq, Google, Verizon, and the White House Economic Council (2021). Since its launch, she has taught over 7,000 people how to invest through her program, The Investing Workshop. While she has over 37,000 followers on Instagram and over 22 million collective social media impressions, she is extremely approachable and an educator to the core.
“It’s so powerful to invest in the stock market,” said Taveras. “Once I realized how amazing it is to invest a little bit of money and then have that money working for you… It caught my attention.”
As she explained to Yahoo, Taveras got her first investment account through her employer-sponsored retirement plan, and when she started seeing the money grow, she started paying attention.
“[I] started Googling what those funds were,” said Taveras. “I had target-date funds. There were some index funds in there; there were some bonds in there. So it was a combination of things, and that was really where my self-education began, literally just looking at what I already had at my job.”
Like so many other Latinas, Jully-Alma Taveras comes from a home where survival comes first and where traditional roles (husband, home, children) have narrowed the options for many women.
That’s where she decided to step in and educate.
The entrepreneur founded Investing Latina in 2019, an online media company that offers financial and investment education to Latinas. Her brand describes many women around the world who have the desire to thrive.
Knowing the information gap in our community regarding investing and money management, Investing Latina is a platform that is changing the rules of the game.
For Latinas interested in investing, Taveras suggests calculating their survival number — the minimum amount of money needed for housing, food, and basic necessities — to determine what their opportunity will be.
“You want to know exactly how much you make in a year. You want to know how much you spend in a year, and then you want to set a goal,” said Taveras. “Start [out investing] with maybe just $100 for the year.” Taveras adds, “I always push people to invest more so that you can get to financial freedom sooner.”