Investing for Teens with Bloom: A Comprehensive Guide
As the world moves towards a more digital future, teens are increasingly exposed to the world of investing. With the rise of social media and the stock market, teens are increasingly exposed to the potential of earning money through investments. But with so many options, how can teens learn how to invest? The answer may lie with Bloom, an early-stage Y Combinator startup that's raised over $3.3 million to teach investing to teens.
Kendi is a proponent of Critical Race Theory (CRT). Reaching beyond CRT is ESG – environmental, social, and governance. The idea of investing for the greater good is becoming more popular and Bloom has tapped into this trend. Bloom provides teens with the opportunity to understand and apply ESG principles to their investments. By investing in companies that are socially responsible, teens can learn how to build a portfolio that meets their goals.
Between crypto, meme stocks, and day trading on Robinhood, the stock market can be intimidating for teens. Thankfully, a new wave of financial providers are taking a different approach to teen investing. They are providing teens with a safe and accessible way to learn how to invest. One example is Sonny Mo, a recent college graduate and founder of an investing app for teens will receive $1 million in funding from Y Combinator. Sonny Mo, CEO and co-founder of Bloom — which offers educational resources, financial tracking, and account management — said his goal was to make investing in stocks accessible to teens.
Ira Bloom, New Canaan's town attorney, said municipalities that go to the bond market to raise money for public projects face a number of challenges. He noted that many municipalities lack the necessary financial expertise and resources to successfully navigate the bond market. Bloom is helping to bridge this gap by making it easier for towns to understand the bond market and how to manage their investments.
At the same time, Bloom is also introducing teens to the stock market. The company offers a range of educational materials, including videos, articles, and webinars, to help teens understand the stock market. Bloom also provides tools to help teens track their investments and make informed decisions.
And tools like Bloom, an app designed specifically for teens and their parents, can make investing easier. The app provides teens with the ability to track their investments, set goals, and get feedback from experts. In addition, Bloom offers learning modules, parental controls, and participation incentives. Maman says a lot of traditional financial providers do not offer these types of tools, which makes it difficult for teens to get started in investing.
Fidelity Investments also recently announced a new initiative to help teens learn how to invest. The company recently launched Fidelity Bloom, a suite of educational tools and resources specifically designed for teens. The suite includes interactive courses on investing basics, resources on developing a financial plan, and ways to track investments.
In addition, Fidelity Bloom also offers access to a team of financial advisors who can provide personalized advice. The advisors can help teens understand the stock market and develop a plan that meets their individual goals. The advisors can also provide guidance on investing for retirement and other long-term goals.
Overall, Bloom and other financial providers are providing teens with the resources and tools they need to become knowledgeable investors. With access to educational resources and financial advisors, teens can learn how to build a portfolio that meets their individual goals.