Money-expert, New York Times best-selling author, and fashion-lover Nicole Lapin dishes about her new book Miss Independent and the pieces she believes are always worth the splurge. Keep scrolling to read the interview, then shop her top picks.
Rue La La: What was your first investment purchase?
Nicole Lapin: Tiffany & Co. stock! I was bullied in school for not having all the cool clothes and accessories, namely this one chunky sterling silver bracelet from Tiffany & Co.. There was no way I could afford that growing up. But the mean girls in school made fun of me and my knockoff jewelry (and Dr. Martens, which they called “Nurse Martens”). I always wanted to work hard enough to one day be able to afford my own actual Tiffany & Co. bracelet. Once I became a network news anchor and started appearing on the “TODAY” show a lot, I got an email from one of those girls basically congratulating me and asking for career advice. I’ll never forget going straight to the Tiffany & Co. store in Manhattan to get that damn bracelet once and for all. I got all the way there, tried it on, and then decided to use the money to buy stock in the company instead. The purchase was not only an actual investment, but an investment in leaving the past behind.
RLL: What’s one thing you believe is always worth splurging on?
NP: Tips and donations! I think there’s a law of attraction with money. If you don’t have a lot, the impetus is to hold onto it and hoard it. But, money has energy. The more you put out, the more that I believe comes back to you.
RLL: As a fashion-lover yourself, what advice do you have for shopaholics looking to make a big purchase?
NP: There are some purchases that retain or even increase in value (I’m looking at you, Birkin) on the secondary market. If it’s a really big purchase, keep that resell value in mind. Also, invest in insurance for jewelry or other fashion valuables.
RLL: What’s the one takeaway from Miss Independent you want readers to remember?
NP: No one in the history of the world has been glad they didn’t invest earlier. You’re never as young as you are today. As far as I’m concerned, today is as good a day as any to start investing and grow your own wealth.
By Mia Zarrella, Staff Writer
