28-Year-Old Was An Underpaid Stock Trader, Now She's A Self-Made Millionaire: 'Make The Smartest Money Moves You Can'

'Rich Dad Poor Dad Author' Robert Kiyosaki once said, "It's not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for."

For 28-year-old Lauren Simmons, making money hasn't been an easy affair. Starting her first job at 22 as a New York Stock Exchange equity trader, she earned just $12,000 yearly. Although that didn't stop her from pushing forward and building her financial empire.

Today, she has become a self-made millionaire with much of her business expertise involving speaking engagements, brand partnerships, advising on financial wellness, and making TV appearances.

Simmons was the second-ever Black woman to work at the NYSE full-time. When she discovered that some of her male counterparts were taking home $120,000, she decided not to take less and left the trading business to start her own venture. 

Simmons began investing in the stock market during the pandemic downturn in 2020. 

In 2021, she moved to LA and earned $650,000 that year. Her wealth accumulation is due to a saving strategy she learned from her mother, as reported by CNBC.  

She keeps her emergency fund, savings, and retirement money in one bank account. And she unapologetically splurges on Bath & Body Works candles: "Any time they have a sale, I am there."

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"We get so fixated on what we think our talents might be," she says. "I was the girl who went to school for genetics and prior to that architectural engineering. I never thought my thing would be finance. But be open to opportunities to figure out what you like, what you don't like, and then take it from there," adds Simmons. 

As for managing her own money, Simmons said, "I think that there are days that I'm decent at it," but, "I know that there's a lot to learn every time I get to a different phase in my life."

With rising inflation, interest rates, and a volatile market, Simmons says she's reassessing her risk tolerance and urging caution against uncertainty.

"It comes down to being intentional with how you spend your money," she says. 

"Don't make impulsive decisions with your career, like quitting your job without another one lined up. And continue to work on your side hustles, whether to supplement your income or replace it if need be," she adds. 

Simmons says she has never waded into the cryptocurrency market as a conservative investor and would stay out of the crypto market for now. 

"At the end of the day, people have to really understand what their risk tolerance is, what their goals are, and make the smartest money moves they can," Simmons says. 

"When it comes to investing, I'm a big proponent of developing a relationship with yourself and understanding what your likes and your dislikes are, and understanding what you're absolutely not going to tolerate," adds Simmons. 

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