Carrie Sheffield makes it all look so easy. She walks into a room and instantly owns it. But make no mistake, her life has been anything but easy. The Bold, pun intended, founder, came from the most humble of means, and made the difficult choice to leave the Mormon life of her childhood behind.
She is the driving force behind Bold which is billed as a news network aimed at millennial thinkers and creators. She hosts a show on Bold TV wth Clay Aiken and she's even working with Al Roker's production company
If you think you see Carrie everywhere- you are right. She also hosts a great interview series on Salon called Salon Talks. Here's me talking Financial Grownup with her on that show. And she appears regularly on countless shows. My favorites include Making Money with Charles Payne, and Kennedy.
The grownup moment Carrie candidly shares with us is an important one. The lessons are basic but so often ignored:
*Do your homework and learn what you are investing in.
* Get advice but don't follow blindly.
* Take your hits, learn from your mistakes and move on.
Carrie's Financial Grownup Moment:
My Financial Grownup Moment happened when I was 23 years old. I had been raised before that in a household that didn't teach me about finances. We were very poor, transitory. Didn't have any roots. And so I didn't know anything about money. I wasn't taught to own my financial future. And so I got this inheritance and unfortunately I didn't seize control of that. And so I trusted someone and I put it into an investment vehicle similar to a REIT. Unfortunately I put almost all of the money into that investment. And then sadly with the financial crisis of 2008, that investment basically imploded. And so the value of the the investment fell. I ended up losing a third of what I had initially put in and so I was very disappointed.
Carrie's lesson to share:
Own your financial future. Think about diversifying your portfolio. If you have a large sum of money think about deploying it in many different places. Also understand the risk. Carefully read the documents of what you are putting it in. Because when the value imploded the investment managers wanted a capital call. I didn't even know what a capital call was. I had not educated myself. So empower yourself, educate yourself, understand diversification and then you are going to own your financial future.