One of the most effective ways to achieve a comfortable lifestyle is by developing multiple streams of income.
Recent research by Sage reveals that 32% of 24–44-year-olds have a second job, alongside 28% of those aged 45–54. Meanwhile, 68% of 16–34-year-olds report having multiple income streams or side hustles in addition to their main employment.
Euronews spoke to financial influencer Jenny Okpechi (@savvymoneygirl) about how she built a multiple six-figure investment portfolio – and why she believes it’s crucial for young people to start investing early.
Building a multiple six-figure portfolio
While a multiple six-figure portfolio might sound impressive, Okpechi emphasised that her success didn’t happen overnight. She highlighted the importance of starting small and remaining consistent – even in the face of economic pressures and cultural barriers.
Raised in a traditional African household, she saw first-hand how financial matters were often viewed as the domain of men, with cultural norms frequently limiting women’s financial empowerment.
“I started very young – at 16 – by getting very intentional with my money. At the time, interest rates were fairly decent, and you could get a treasury bill investment with an annual return of 20%. I began learning how to run a business and manage finances as a woman, just to prove that I could do what a male could do – and the knowledge I acquired from doing so changed my life,” Okpechi said.
Her approach involved meticulous budgeting, living within her means, and regularly putting money aside into savings.
“Over time, I moved from savings to investing in treasury bills, commercial papers, corporate bonds and stocks,” she noted.
Many young people hold off on investing because they think they need to reach a certain income level before starting with a larger amount.
However, Okpechi explained: “I didn’t wait to earn a lot. I started investing as a student with what I had and this made me seek out other ways of making extra income like paid surveys and online tutoring. I even attempted blogging but I had to stop because of my studies.”
She added: “Over time, thanks to compound interest and consistent investing, it grew. I treated wealth-building like a long-term relationship: commitment, patience, and check-ins.”
The financial influencer currently has eight income streams. These include her full-time role as a Scrum Master and a part-time position as a healthcare assistant. Digital products – such as eBooks, finance guides, and vendor lists – form a third income stream, while sponsored content, including partnerships and brand collaborations, make up a fourth.
Another source of income comes from her investments, which include real estate investment trusts (REITs), stocks, and index funds. At one point, Okpechi even earned five-figure dividends. Subscriptions – including paid members of her investment community – add yet another stream.
She also earns through affiliate marketing and content creation, and is currently building Moneybestie, an AI-powered fintech app designed to simplify financial literacy, particularly for women and teenage girls.
“I pay myself first and invest consistently, I only invest in what I know and understand so I keep it pretty boring and simple.”
Investing early
One of the key pieces of advice Okpechi offered young people starting to build their portfolios is to start small—but start smart, by tracking spending and maintaining a budget.
She also emphasised the importance of living below one’s means and resisting peer pressure, as well as acquiring a valuable skill.
“There are good debts and bad debts, avoid the bad debts. Invest early and consistently, even if it’s just £25 (€29.8) a month. Automate your savings and investments if you must, that way compound interest will help grow your money faster. Time in the market beats timing the market,” Okpechi pointed out.
She also highlighted the importance of avoiding lifestyle inflation, which occurs when spending rises alongside income.
“Learn about money like your financial freedom depends on it, because it does!” she said.
According to the 2024 Schwab Modern Wealth survey, Generation Z are starting to invest much earlier than previous generations, at an average age of 19. This contrasts with baby boomers, who began investing at around 35, and millennials, who typically started at 25.
Okpechi also recommends websites such as Nasdaq, Seeking Alpha and Dividend.com for young investors just starting out. She suggests books like The Richest Man in Babylon by George Clason, The Intelligent Investor by Benjamin Graham, and Rich Dad Poor Dad by Robert Kiyosaki as valuable resources.
Challenges along the way
Okpechi highlighted that consciously unlearning traditional African views on money was a significant challenge in her journey. This is especially true as many African cultures prioritise passing on wealth and assets, such as property, to male heirs.
Girls are often expected to marry, move into their husband’s home, and rely on their husbands for financial security. Consequently, investing in daughters is frequently seen as a waste of resources, which means many women from African backgrounds struggle to achieve financial independence later in life.
Another challenge Okpechi faced was dealing with imposter syndrome as a woman working in finance and technology, while also confronting gender stereotypes in a predominantly male industry.
Investing and finance remain largely male-dominated fields, with women investors and experts often having to continually prove their expertise and credibility, especially when addressing audiences.
Juggling multiple jobs and coping with burnout, along with resisting social spending and peer pressure, were further obstacles.
“I learned to forgive myself for financial mistakes and keep going anyway. If I had to do it again, I’d talk more openly about money. It breaks the shame and helps others grow too,” Okpechi said.
