Financial experts have encouraged people to invest at a younger age for decades. However, they’ve traditionally been ignored by most individuals. Investing in the stock market may be accepted as a smart thing to do, but it’s also been accepted as an overwhelming and intimidating project. When the pandemic lockdowns hit, many found that they suddenly had time to do things they would have otherwise procrastinated on. On top of this, technology made investing more accessible, less intimidating, and a lot more appealing to the younger generation.
How did that finally happen?
Financial Podcasts Made Investing Cool
Shortly after pandemic lockdowns began in 2020, there was a significant rise in the publication of podcasts. They were one of the notable trends alongside activities like baking bread at home. While podcasts were on a wide variety of subjects, many were on finances. Podcasts like HerFirst100k were started by younger financial experts who focused on making investing accessible to younger people.
Social Media And Investing Trends
During the pandemic lockdowns, people of all ages were talking more online. Different “meme trends” began to hit the financial sector. For example, at one point, young people began investing in GameStop in droves, despite the fact that the company had mostly been seen as a failing stock prior to this hit. These trends caught national news and encouraged more young people to consider investing options.
Mobile Banking Options And Investments
Mobile banking has grown in popularity. That was true before the pandemic lockdowns, but like many industries, lockdowns encouraged people to use online finance tools instead of visiting a bank in person. Many online bank accounts offer applications or options for investments. As more young people took a closer look at the available finance technology, investing became a more popular choice.
Investment Apps Made It Easy To Start
Most people have heard of the stock market. Despite this, a great number of people don’t really understand how it is that they can put their own money into the stock market. One of the many misconceptions about investing is that someone needs to be wealthy in order to invest.
Investment apps have made it clear to younger people that even if they only have a small amount of money, they can start putting that into investments easily. With ten minutes of downloading an app, funding it, and clicking a few basic buttons, young people can start investing with little money and without needing to research more about the stock market first. Lowering these barriers has made investing more appealing.