Tiffany James, a 27-year-old African American woman from New York City, turned a $10,000 investment in the stock market into $2 million in just 2 years. Later, she founded Modern Blk Girl, which helps educate women with her investing strategies to help them build wealth.

James advises those who want to get started to constantly get ready to invest and think broadly about where to put the investments. She also encourages women not to be afraid, saying that "investing is a necessity, not an option" and it will open doors to greater financial freedom.

"If you educate a woman, you educate a village," she told CNBC. "If a mom starts investing, she tells her kids."

"There are scarier things we deal with every day as women," James said, emphasizing that by making money in the market, "We can live the lives we want to live."