“Thicker Than Water’s” Jewel Tankard’s Tips To Build Wealth

- By Bossip Staff

Reality Star & Finance Guru Reveals Top Tops For Women To Grow Wealth

You may know her as the matriarch on Bravo TV’s “Thicker Than Water.”

But Jewel Tankard is more than a trophy wife to gospel musician Ben Tankard. The economist founded the Millionairess Club to teach people – and specifically women – the ins and outs of building long-term wealth.

BOSSIP sat down with the mom of six to learn her top tips to create your nest egg:

Trust Your Instincts
“Most women don’t trust their gut,” Tankard said. “Most people have a fear of loss, but if you have a fear of loss, you’ll never gain…You have to trust your financial gut. Logic will talk you out of it. Don’t ask anybody’s permission to prosper.”

You don’t have to share all your financial info with your spouse
“Get out of that mindset that you need a man’s approval,” Tankard said. “You don’t have to discuss anything (financial) with your spouse. Prosperity should not be causing a rift in the household. You can still make him a king, he can still be an amazing provider, but you don’t have to go into details. You can make moves without compromising your marriage.”

Don’t depend only on your 401K
“What worked for my parents and what worked for me is two different things,” Tankard explained. “The danger is that 401k’s, which are made up of stocks, bonds, mutual funds and CDs, most only yield four to eight percent of profit a year. In order to grow your money, to become wealthy, you need to be growing your money 20 percent plus a year.”

Invest in new income streams
“Learn how to trade foreign currency,” she said. “You can do it all on your phone. The biggest thing is the learning curve, but now we’re teaching the average person how to do this. This is a skill set of how the uber-wealthy live.”

Don’t be afraid to buy pre-owned
“If somebody wants to get a new car, it’s fine,” she said, “but they depreciate by so much when you take it off the lot. You can still live a millionaire fabulous lifestyle without spending crazy amounts of money.”

Pay yourself first
“Don’t be in a position that you have to ask for money,” Tankard said. “Make sure that out of every check, pay yourself. Get a safety deposit box or something and make sure your pay yourself every pay period.”

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