22 : Teri Ijeoma
We sit down with full time day trader, Teri Ijeoma to talk about her journey and get her tips pertaining to building financial independence through investing.
Learn About Teri here: https://investwithteri.com/
Zach: What's up, y'all? It's Zach with Living Corporate, and yes, you're listening to a B-Side. Now yes--of course yes, we're late into the first season--we've introduced the purpose of a B-Side before, but every episode is someone's first episode. So for our new folks, B-Sides are essentially random shows we have in-between our larger shows. These are much less structured and somehow more lit--that's right, more lit--than our regularly scheduled shows. Sometimes they're discussions with the hosts we have, extended monologues, or maybe just a chat with a special guest. Today we have another great special guest, Teri Ijeoma. Teri is an educator turned real estate agent turned NPO executive turned educator again turned real estate agent again turned full-time investor. That's a lot of switches. Today, Teri travels the world and invests from the comfort somewhere near the last postcard that you got.
Zach: [laughs] Teri, welcome to the show. How are you doing?
Teri: I'm great. How are you? Thanks for having me.
Zach: Thank you for being here. So I know you love traveling. What are some of your favorite cities?
Teri: Oh, man. I think my biggest surprises have been Seoul, South Korea. I thought Korea would be something totally different than it is, but it's just so beautiful. And then Tel Aviv is real. It's like a mix between Chicago and Miami. It's gorgeous. It's beautiful.
Zach: That sounds incredible. So today we're talking about financial freedom. I know I set you up in your intro, but what does financial freedom mean to you? And what have you done to move closer to achieving it for yourself?
Teri: Wonderful question. For me, financial freedom means not having a boss. My testimony is that I've worked so hard to help other people's dreams come true. I was always the first one in the office, the last one to leave, but then I realized, like, I was helping everyone else's dreams just get bigger, but not my own. And I'd have my own passions on the side, so I'd be doing real estate and helping other people on the side and investing on the side while I was spending most of my time helping other people's dreams come true. So for me, financial freedom is being able to have the money to do what you love when you want to, and that's why I started trading and investing, so that I could trade and travel.
Zach: So speaking about investing, what would you say are some of the common misconceptions that are associated with being an investor or actively being engaged in active investing? What would you say are some of the common misconceptions?
Teri: A lot of people feel like they're just not smart enough, like they have to be some math major or know numbers to be able to invest, but really you just need to be able to see companies that you like and see trends and go for it. Another big misconception is that you have to have a lot of money, but I think that you should learn the skill when you don't have money so that as you do get more income then you can learn how to make it multiply as it comes in. Those are probably the two biggest ones that I see a lot, people just being scared or thinking they don't have enough money to start.
Zach: Okay. Now, I'm not trying to give your sauce away, right? But if you had to give three tips for how folks interested in investing should get started, what would they be?
Teri: Of course I'd tell people to take my class because I think taking classes is important.
Zach: Yes. [laughs]
Teri: I've been trading eight years. In the first seven years,I can honestly say I was just trying to do it on my own and losing money. It wasn't until I took classes and went to school that it actually started--like, started growing and becoming something that I could truly live off of. So I think education is important. Another thing is pick good companies. A lot of people want to invest in penny stocks and things that aren't really that good of a company. You really make money when you invest in valued companies that can give you good returns, and we do have a class on that too, like, how to pick good companies. And then I think the next part is being able to protect your portfolio. I hear so many stories of people who blew up their accounts because they made this big investment that they thought would be the best thing, and then it went down and now they don't have any money left. So I think you need to learn how to protect your portfolio. Like, did you know you can actually put orders in that will get you out of a trade if it goes down? Like, you can automate that so that you can go to work and don't have to think about it. So I think being able to protect your portfolio is important too.
Zach: Well, see, this is the thing about when it comes to investing for me. I'm pretty risk-averse when it comes to that space, and so for me I know that I would really benefit from going to some sort of class to formally learn because when I think about day trading, I think about investing, I think about, like, Wolf of Wall Street, or, you know, if I want to go old school, like, Trading Places. I think about, like, very volatile, risky activities, right? So, like, you know, my investments really center around my Roth IRA, my 401K and longer-terms (holes?) that I have, so I definitely believe when it comes to--when it comes to being a little more engaged in that space, I have plenty of--a ways to go, and I would actually venture that a lot of folks who are listening in have a ways to go as well. So, you know, where can people learn more about you? And if I wanted to learn from you about trading, how could I do that?
Teri: Sure, great question. So we have a website called Invest With Teri. So investwithteri, T-E-R-I--and that's all one word--dot com. If you go to my website, you can put in your email address, and we'll send you updates of our new fall enrollment. We actually have online self-paced classes, and then for advanced students I have actually one-on-one coaching to help them invest. So I think that's a great place to start. And then just in your comment about, like, 401Ks, I think that's always great to invest in retirement, but a lot of those are only giving you, like, 2%-5% returns, where as the market last year was up 25%. So there was a lot of upside that you missed out on if you weren't actually looking at companies for yourself. So I think we just don't get taught that kind of stuff, and we should be.
Zach: No, I absolutely--I agree, and I think, to your point, we don't think about that, right? We're like, "Okay, look. We got this job. Let's just hold on to what we have." We're not necessarily trying to put ourselves out there and really over-extend or expose ourselves more than we feel like we need to, but to your point earlier when you were talking about financial freedom and really being in a position to not have to work for somebody else, what you're talking about speaks to a certain level of intentionality, right? And effort, because it's easy, right--again, I have a 401K and I have a Roth IRA. I'm not shaming people who are in that bucket who are like, "I'm just gonna invest in these spaces." It's just that to really get to that next level of financial independence it's gonna take a certain level of intentionality on an individual level, right?
Teri: Exactly, exactly.
Zach: So this has been a great discussion. Before we go, do you have any shout outs? Any parting words of wisdom?
Teri: Thank you so much for letting me come on the show. I just help people to take risks. Like, you won't be able to get to a higher level if you never take risks. So invest. Like, invest in anything, just something. Take a risk, and you'll do better.
Zach: [laughs] This has been great. So this is what we're gonna do. We're gonna make sure that we have all of your information in the show notes, and we'll shout you out to make sure folks sign up. Guys, people, if you're listening to this, make sure you at least give Teri's info a look. She has great resources, great information, and I am positive that you will be happy with what you see, okay? So that does it for us. Thank you for listening and joining us on the Living Corporate podcast. Make sure to follow us on Instagram at LivingCorporate, Twitter at LivingCorp_Pod, and subscribe to our newsletter through www.living-corporate.com. If you have a question you'd like for us to answer and read on the show, make sure you email us at email@example.com. This has been Zach, and you've been listening to Teri Ijeoma. Peace.
[winding down sound effect]
Zach: Yay. [laughs]
Kiara: Living Corporate is a podcast by Living Corporate, LLC. Our logo was designed by David Dawkins. Our theme music was produced by Ken Brown. Additional music production by Antoine Franklin from Musical Elevation. Post-production is handled by Jeremy Jackson. Got a topic suggestion? Email us at firstname.lastname@example.org. You can find us online on Twitter, Facebook, Instagram, and living-corporate.com. Thanks for listening. Stay tuned.