Investing into stocks at an early age can offer opportunities to have an amazing financial future. Recently, saving and investing was brought into view as something teenagers need to start putting all their financial abilities into. According to Christine Benz, Director of Personal Finance and Retirement Planning, she encourages everyone to focus on what she calls your “time on earth” allocation. That is, prioritize what is important to you and what you want to spend more of your time doing – not just in retirement, but today and in the foreseeable future. It could be that you want to travel to be with your aging parents more often. Maybe you want to step out of the workforce for a few years to be home with your kids, or leave a well-paying job that sucks you dry for one that is less lucrative but more fulfilling. Benz also explains that investing in stocks at an earlier age creates a more promised future. In addition, Benz explains that younger people might not worry about their future financial status. Many people utilize CNBC’s website to view changes in the market.
Written in an article on CNBC, stocks are explained in a nutshell. “If $100 is invested in the S&P 500 and it gains 10% in a year, that holding will be worth $110 by year’s end. After another year and another 10% gain, it’s worth $121. After a third year it’s $133,” explained Barbara Booth from CNBC.
CNBC comes to introduce an online platform called Greenlight. Greenlight was formed for teens to be able to form their own credit card with abilities to invest in businesses of their choice. Tim Sheehan, the creator of this company, introduced an article to advertise his new website.
“You don’t really build wealth with a savings account. The earlier you begin to teach and prepare your kids, the more time they have to learn, ask questions and make mistakes in a safe and supervised way. And if you learn to do it properly and do it well,” he said, ‘it can make life easier.’”
As Greenlight becomes more popular, thousands of teenagers have begun to invest and continue forming their future. Signing up for Greenlight was reviewed as the most beneficial thing you can do while being underage. Beginning to invest in something at such an early age can create a more advanced, financially stable future,with either loads of money at your age or just enough money to fit in your pockets.