ORLANDO, Fla. (Ivanhoe Newswire) – At just 31 percent, millennials are the lowest percentage age group to own stocks. However, an app with an average user’s age of 32 is changing the way people view, buy, and sell the stocks of the hottest companies on the market.
The market is open for business! And millennials are the new buyers, thanks to the user-friendly app, Robinhood. It is an online brokerage with a surprising 78 percent of users under the age of 35. On sites like Robinhood, M1 finance, TD Ameritrade and Fidelity allow buying and selling stocks free of charge! And, on Robinhood, you can purchase stocks for as little as one dollar by only buying part of a stock share. “10 Cent, Disney, I owned Tesla for a minute, yeah, you can buy anything you want,” said Jeff Mier, a Robinhood User.
Consider setting long and short-term goals. Think about the life events you want to accomplish and how long it will take you to get there.
Once you figure out how much you want to invest, the net annual earnings on it, and how long it will be, then you can decide if certain stocks are worth the investment. Also, be diverse. Invest in different companies and different industries so that if one industry is not doing well at one point, another industry may be thriving. Finally, control your emotions. You might think a company is about to go under because of what others feel, but it’s important to stick to logic rather than feeling.
With the stock market dropping drastically, now is a good time to buy. Companies that have halted their services will really need investments to keep them afloat for the time being.
Contributor(s) to this news report include: Addlyn Teague, Producer; Bob Walko, Videographer and Editor.