Money Expert Reveals How She’ll Retire With $6 Million And How You Can Too
A 26-year-old woman has gone viral after sharing her secrets about how she plans to retire with $6 million.
Tori Dunlap, a money and investment expert, has racked up more than one million followers on TikTok after sharing videos about how best to manage and benefit from your money, with her bio explaining that she is ‘fighting the patriarchy by making you rich.’
In a video posted this week, Tori told followers that despite being in her mid 20s, she already had a plan in place that would allow her to retire a millionaire.
Check out her video below:
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The TikToker assured that yes, despite the fact that finance is a very male-dominated field, there are ‘women investing experts’, one of which is herself. She joked: ‘TikTok wouldn’t tell you, but there are.’
Tori kicked things off by debunking two common myths about investing, stressing that it is not ‘just for rich people’ and that you don’t have to have a lot of money in order to invest.
She pointed out that many of those who ‘get rich’ do it through investing rather than saving, explaining: ‘you have to allow your money to work harder for you by investing it in the stock market.’
Tori described investment and financial education as ‘the best form of protest’ for women, as it allows us to grow our wealth and have financial agency, before going on to address the importance of time in helping to increase wealth.
Though the saying goes that ‘time is money’, Tori argued that time is more important than money when it comes to investing, so it is better to invest even $50 or $100 now, and ‘allow time to work harder for you because of this lovely thing called compound interest.’
Compound interest, Tori noted, is when ‘your interest gains interest’
Addressing her own money-making plans, Tori explained that she had done ‘a lot of the heavy lifting early with $100k, $150k’ she will grow her wealth over time and ‘allow it to grow for [her] over the next 30, 40 years.’
As a result of her forward planning, the Tiktoker expects to have racked up $6 million by the time she retires, ensuring she’ll be able to live comfortably in her golden years.
Tori’s savvy tips have racked up more than 54,000 views from intrigued viewers looking to see how they too can retire as millionaires, and following the success of the video the TikToker told Buzzfeed that it proves viewers are ‘looking for financial information from someone relatable and who they can trust.’
Other tips that the money expert revealed include writing down purchases to review your spending at the end of the month, building an ’emergency fund’ which could cover expenses for three to six months, and opening a tax-advantaged retirement account.
With Tori’s advice, hopefully we’ll all see the numbers racking up in our bank accounts in no time.
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