How can you turn 1 penny into £5 million? How can women’s typical risk-aversion be a strength? What actually are cryptocurrencies?
These were just some of the questions explored in last night’s ‘Women and Wealth’ event with Roz Thornton and Tehmina Zaman to a packed audience of entrepreneurial, business-minded women. TRVST forged the introduction between Roz and Tehmina in May 2018 and are thrilled to have hosted their first joint event at TRVST’s offices.
9 in 10 women will be solely responsible for their finances at some point in their lives. Fact. There is a need to help women become financially literate, demystify investments and help them start investing, traditionally a male-dominated arena.
Both Roz and Tehmina drew upon their personal stories to share why they are so passionate about encouraging women to invest, not be intimidated by money, and ultimately how to secure their own financial future.
In Roz’s early career days, she found herself living the high life, but an unexpected pregnancy led to a change of direction. Overcoming her difficult relationship with money and savings by listening to life coaches and investing in her financial education, she’s now a successful investor, property investor and business coach. She’s passionate about sharing with other women what she’s learnt and help them develop a positive relationship with money – fostering a ‘wealth mindset’.
Similarly, Tehmina’s childhood was influential – when her mother was widowed at the age of 38, Tehmina experienced the challenges of growing up in a struggling household with 8 siblings all under the age of 16 and supporting her mother, a first generation Pakistani housewife and mother with little financial education and understanding of British culture but plenty of tenacity, resourcefulness and determination. As a business coach and investor Tehmina is passionate about ensuring women do not rely solely on their jobs, businesses or even their partners for financial security and are prepared for the unexpected by always having a ‘Plan B’, and ideally multiple streams of income.
Roz started out with some very practical ways of identifying common limiting beliefs regarding money and overcoming them. Roz’s description of most women’s relationship with money was met with a lot of knowing laughs around the room. It was clear Roz was passionate about presenting and communicating these key life-lessons – even on the thorny, often taboo topic of money. She explained the difference between how wealthy individuals think differently to the majority of the population in a highly energetic and engaging way. For the wealthy, it is all about making money work for you, not about earning and saving. The aim is to make your money grow and multiply, not simply saved. She drew upon an enlightening example of Robert Kiyosaki’s The Cashflow Quadrant outline the difference between an employee and self-employed person’s attitude to money versus that of a business owner and investor. She encouraged all women to start to see themselves as potential investors and look at ways to make their ‘money work for them’ . The concept is foundational to Roz’s coaching workshops. If you want to know more, you can contact her directly on Linked In. or via www.amazingwomenglobal.com She clearly made an impression to those in the room.
Building on the clear energy and appetite in the room, Tehmina led us on a whirlwind tour of blockchain and cryptocurrencies. From the early days of cryptocurrencies and the difference between Bitcoin and Ethereum, Tehmina made it all sound simple and straightforward – a clear example of an excellent communicator. The evolution of money to cash to cards to e-money to crypto was well illustrated by handing around novelty Bitcoins widely promoted on the internet, which are made to look like fiat currency, when in fact, Bitcoins and cryptocurrencies are completely digital and exist only as strings of code.
Tehmina believes that cryptocurrencies are the future and cryptomining especially can be a simple way for women to begin their investment journey and critically, protect themselves financially. It’s a great time to get involved with cryprocurrencies, particularly mining because it is passive and with various contracts available, there is something for everyone – from seasoned investors to the more risk-averse looking to dip their toes into this industry.
Tehmina is currently investing with a US-based company that offers mining packs ranging from $500-$5000 on lifetime mining contracts that typically run for 3-5 years but a minimum of 1,000 days. After researching the potential of this exciting space for several months and receiving weekly coin payouts from her own mining contracts, she’s now passionate about encouraging other women to do the same. Tehmina is always happy to chat with anyone interested to find out more and support them through the process. You can contact her directly on LinkedIn and on Facebook where she runs a Facebook group called ‘Empower and Enrich’ and provides education and information about cryptocurrencies.
How do you turn 1 penny into 5 million pounds? The answer is by ‘compounding your money’ or doubling a 1 penny every day for 30 days. The principle of compounding is a powerful one that has been used by savvy property investors for years, and can work with cryptomining too.
Traditionally, property investors have reinvested their profits back into property to build up their portfolios without using additional capital. Similarly, Tehmina illustrated how it’s possible to maximise the value from the mining contracts by reinvesting the coin that is mined to purchase further mining packs and allow the cryptocurrency to accumulate until some point in the future. This opportunity is open to all, without the need for significant capital upfront.
The event ended on a high, with many great life-lessons left, a renewed call for more accessible financial inclusion and a real buzz of new excitement and new knowledge.
Being part of this event, seeing these self-confident, empowered women passionate about empowering other women, was a real joy. It was a great example of what TRVST exists to do. I’ll certainly be back and at TRVST, we’ll be supporting Roz and Tehmina to share their message as widely as possible, meet the need for women’s financial education and empowerment.
If you’d like be involved, attend a workshop, or offer your expertise to support Roz and Tehmina, contact us at email@example.com