A 37-year-old woman with a $2 million investment portfolio attributes her success to three habits.
Kiana Danial was living her dream life in New York City in 2010. She relocated to the United States from Japan and found work as a financial public relations associate on Wall Street. She then found the ideal Upper East Side apartment. And for a little more than a year, everything was going swimmingly for her.
"I was let go. I was not prepared for it. I believed I was slaying it "Danial explained to Insider. "As a result, I was completely blindsided. Naturally, my boyfriend then dumped me a week later. And at the time, I was unable to afford the rent on my dream apartment."
She believed she had saved enough money in an emergency fund to cover her rent as she looked for work. However, she soon discovered that the money she'd set aside for emergencies was not withdrawable without incurring a significant penalty.
She was initially taken aback. However, upon further examination of her savings, she found she lacked sufficient knowledge of her own finances.
"That inspired me to first learn how to invest independently, and then to share my story with other women who might be in a similar situation," Danial explained.
Danial now has more than $2 million in her investment portfolio at the age of 37, according to documents seen by Insider. She is also the founder and CEO of Invest Diva, a forum that empowers women to take ownership of their financial futures and make their money work for them. She is the co-author of four novels, the most recent of which is "Million Dollar Moms."
She revealed to Insider the three main habits that aided in her net worth development.
1. She began by investing in herself.
Investing in herself took on multiple meanings at various points in time. If she lacked financial resources, she had to become resourceful by investing the time necessary to learn something new. This often manifested itself in the form of unpaid internships, which she pursued following her job loss. If she desired a particular career, she would devote her energies to acquiring the necessary new skills.
"Rather than saying, 'I am incapable of doing it,' I would inquire, 'How am I capable of doing it?' How am I going to make this happen?'" As Danial said.
When her income grew, she was able to invest in herself by enrolling in personal finance courses, trading courses, and hiring a coach to assist her in taking her company to the next level. Even though she has reached a point in her life where she feels financially stable, she continues to spend a significant amount of money in herself in order to advance to the next level.
"You will still have issues, but they will vary in kind and severity. When your company scales and develops, you will face obstacles, and there will always be those who know more than you. And you can use their insights to your advantage by learning from them "As Danial said.
2. She concentrated on increasing her earnings.
The more skills Danial acquired, the more she discovered ways to supplement her income. She began hustling her way through life, picking up odd jobs and gigs to help pay the rent. She performed admirably in others and was shot from others.
She taught English to Japanese students because she spoke the language. Additionally, she developed the ability to read from a teleprompter and create her own images. This allowed her to produce content for businesses that requested it.
"I tell my students, 'Look at your skills; there are always things you believe other people know and can do easily, but it's something that others don't," Danial explained to Insider. "I wanted to teach Japanese students because I am fluent in the language and my English was adequate at the time. Every individual is unique. This is merely a move you're taking with an end goal in mind; you're doing it temporarily because you have a goal in mind and this is the road to achieving it."
Diversifying her sources of income taught her to be resourceful. Today, she has developed multiple sources of revenue, the majority of which are passive. Affiliate marketing, sales from her books, speaking engagements, consulting and coaching fees, as well as dividends and development on her investments, all provide revenue for her.
"To truly achieve financial independence, you must have several revenue sources. Thus, when I lost my employment, it was a rude awakening to the fact that I was dependent on a single source of income that was contingent on my boss not firing me "As Danial said.
3. She arranged for her money to work for her.
Danial was a perpetual optimist when it came to investing her capital. However, her approach evolved during the process. She initially traded on the foreign exchange market (Forex), but soon realized that it was much too risky for her. She started to alter her approach after learning more about how to create long-term wealth. Each time she earned money, she set aside a portion to invest.
While she admits to taking more risk initially, she was young and had time on her side to weather market uncertainty.
"What I want to emphasize here is that personal finance is a personal matter," Danial explained to Insider. "You must manage your personal finances independently and often, if your financial condition changes, since this enables you to adapt your investment plan to your current risk tolerance and financial goals."