Yahoo Finance Celebrity dancers tWitch and Allison Holker on the biggest investing lessons they've learned
Entertainers Stephen “tWitch” Boss and Allison Holker came into fame relatively quickly when each separately appeared on the Fox show “So You Think You Can Dance.”
Now, married to each other with three children, they told Yahoo Finance’s “The First Trade” on Tuesday that one of the biggest lessons they’ve learned with their increased earning power is to invest in themselves.
“An investment doesn't necessarily mean the new Jordans just came out, right? Although they are fresh, let's also look at the stock at Nike (NKE),” tWitch told Yahoo Finance’s Alexis Christoforous and Brian Sozzi. “It's kind of flipping the script on what it what it meant for me to hold and save money, was how to actually invest in ourselves.”
The couple relies on trusted advisers to help with those investments, Holker stressed. “I think it's really important, instead of just kind of being a person standing by and being like, Oh, I know all,” she said. “We ask questions. We do our research, we reach out to other people for help.”
Brands they get behind
The duo also gives careful consideration into products they will represent and endorse. For them, it needs to be something they can stand behind.
“Our son Maddox, he's 3 years old,” tWitch said. “He's just learning to blow his nose. I don't know if you guys have kids, but you know, as they are learning to blow their nose, their nose gets red and itchy and stuff like that. But the Puffs (PCG) they have now have a little bit more moisture. And it's the little things like that, that just kind of doesn't deter him, it doesn't turn blowing your nose into a painful thing. So it’s like partnering with Puffs that kind of makes it organic, do you know? I mean, so it's not it's not just like, oh, let's just get this check. It's really something that we can stand behind.”
“It can really relieve that discomfort,” Holker said. “That's really what we're trying to help our kids with. You want to be making them feel comfortable during that really stressful, uncomfortable time.”
Passing on financial knowledge
The couple also stressed the importance of passing on financial knowledge to their kids.
“That's very important to be able to give our kids the conversations that we weren't necessarily able to have, especially about finance,” tWitch explained.
“I want them to understand that money can work for them, so you shouldn't be chasing after the dollar — you should be making it work for you,” Holker added.
Each of them says they learned about money from family.
“My mother was always the one, kind of handling the finances in our household, so I still go to her for advice,” Holker said. “And my brother, I have an older brother. That's like 11 years older than me. Even when it comes to something as simple as buying a car. I call him, all right, give me some advice. Give me some tips.”
Their biggest splurges these days? Real estate for Holker and shoes for tWitch. Seems like Holker’s got the right idea on a long-term investment.
Tracey Marx Bernstein is a senior producer for Yahoo Finance’s The First Trade.
READ MORE:
42% of people say this is why they aren't investing in the stock market
Markets have been pricing in uncertainty over Iran for 'a very, very long time'
Black Friday, holiday sales surge won’t be enough for many retailers
Apple has a 'big acquisition' up its sleeve, tech analyst Dan Ives says
Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, SmartNews, LinkedIn, YouTube, and reddit.
