Key Facts
• In 2004, Bola Sokunbi graduated college and earned $54,000 annually (approx. ¥8.1M).
• Saved $100,000 (approx. ¥15M) in three years while working full-time.
• Continued saving and investing during the 2007 recession, founding Clever Girl Finance.
• Built a $1.5M (approx. ¥150M) portfolio over eight years using three strategies:
1. Maintain an 18-month cash cushion for essential expenses.
2. Diversify income sources through side businesses like photography and bridal shops.
3. Invest in diversified portfolios, including U.S. stocks, bonds, and international equities.
• Advocates for using separate bank accounts for savings and automating deposits.
• Encourages creative side hustles, such as selling unused items or part-time work.
• Follows John Bogle’s three-fund portfolio approach for broad investment diversification.
• Also invests in individual stocks, angel investments, and real estate.
• Emphasizes financial education and helping women, especially Black women, manage money.
• Advises focusing on emergency savings and stable income before starting investments.
Summary
Bola Sokunbi, founder of Clever Girl Finance, saved $100,000 in three years after graduating in 2004. Despite the 2007 recession, she continued saving and investing, eventually building a $1.5M portfolio over eight years. Her three key strategies include maintaining a cash cushion, diversifying income through side hustles, and investing in a diversified portfolio. Sokunbi highlights the importance of financial education and encourages women to take control of their finances. She advises starting with emergency savings and stable income before investing, while also promoting creative ways to generate additional income. Her approach demonstrates resilience and adaptability during economic challenges.
