How a 20-year-old TikToker earning $33,000 a month teaching Gen Z about money invests to build wealth

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  • Taylor Price moved back in with her mom so she could save and invest more money.
  • Her strategies include dollar-cost averaging, diversification, and planning ahead. 
  • She also maxes out her Roth IRA so that she can have a fund dedicated to retirement. 
  • Read more stories from Personal Finance Insider.

Today, Taylor Price has a following of over 1 million users on TikTok and uses her platform to educate Gen Z on all things personal finance. But Price wasn’t always an expert on money, nor did she expect to end up in the field.

In college, Price dreamt of becoming a neurosurgeon, but due to complications from spinal fusion surgery that she underwent in high school, her dream was jeopardized. She couldn’t pursue a career that would require her to stand or bend for hours on end. 

Price changed her career path and went into business management, with a focus on finance. But that didn’t quite feel right either. After learning about endless financial concepts for companies, she realized she knew nothing about her own finances.

That’s when she began teaching herself about money through books, blogs, and YouTube videos. She would then try out concepts and strategies and share her experience on her blog. This habit eventually led her to found her current company,  Tap Intuit, a website focused on financial literacy for Gen Z.

Even though she now generates a very comfortable income — sometimes $33,000 a month, according to documents viewed by Insider — Price decided to move back in with her mom so she can save as much money as possible and continue to use her knowledge to invest. Below, she shares the key investing strategies she uses to build wealth. 

She uses the dollar-cost averaging method 

Price uses the dollar-cost averaging method to invest, contributing a steady amount of her income to a diversified portfolio every month. She doesn’t try to time the market. 

Investing the same amount on a weekly, biweekly, or monthly basis, regardless of what’s happening in the market, reduces the risks associated with market volatility. If the market goes down, you get more shares for your money, and if the market goes up, the shares you already own increase in value.

This method also reduces the stress associated with trying to guess or speculate about market behavior, and it prevents you from putting a lump sum of money into the market when it’s too high. 

She diversifies her portfolio 

Price invests to build long-term wealth. She maintains a diversified portfolio that includes exchange-traded funds (ETFs), index funds, stocks and bonds, and even cryptocurrencies. Being young means she’s able to take on a bit more risk than someone who may be closer to retirement. 

Her favorite ETFs are from ARK Investment Management. The asset-management firm is led by one of her idols, Cathie Wood. Wood, a rare female CEO, has been a point of inspiration for Price because she’s a successful woman in a field that is still predominantly male.

Additionally, Price invests in ETFs that mirror the S&P 500 index because they are diversified. Some of her picks are SPY, and Vanguard funds such as the VOO and VTI.

She also maxes out her annual allowable contribution on her Roth IRA. This allows her to tap into the tax advantages associated with this account while tucking away money for retirement. 

She creates a plan before she makes an investment decision

Any time Price wants to make an investment decision or add to her portfolio, she creates a plan before taking action. This helps her avoid making quick or emotional decisions. She is aware of the addiction, anxiety, and other emotions associated with regular trading. The user interface that can be found on some trading apps integrates color and flashing icons, making the process feel like a game. 

“One of the strategies I’ve implemented is writing everything down and having a plan of action when it comes to my investment portfolio,” Price told Insider. “By having a plan of action, the greens, reds we see in trading apps and the volatility of the market does not affect me as emotionally as someone who may not have a plan and just hope for the best. I know when I’m buying in and when I’m getting out.”