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Between crypto, meme stocks, and day trading on Robinhood, a number of investment fads have sparked the attention of novice investors in recent times. While these trends may seem exciting, it is crucial for teens to focus on long-term financial security. This is where Blooom, a robo-advisor, stands out by offering management of 401(k)s and other workplace retirement plans — a rare service among robo-advisors.
Investing at a young age can provide significant advantages, and Blooom aims to empower teenagers to start building their financial future early. With the guidance of Blooom's platform, teens can learn about the importance of long-term investing, diversification, and risk management. By starting early, they can take advantage of compounding returns and potentially secure a comfortable retirement.
Teaching safety tips for kids and investing is key to making sure they're not financially compromised. Blooom recognizes this need and provides education on the fundamentals of investing, helping teens understand the risk and rewards associated with different investment options. By instilling financial literacy at a young age, Blooom aims to equip teens with the knowledge and skills necessary for making informed investment decisions.
Allan Maman, a young Ridgewood entrepreneur, got his business career started early, creating Fidget360 while he was still in high school. With Blooom's platform, teens like Allan can now take their entrepreneurial ventures to the next level by investing their earnings wisely. Blooom not only offers investment management but also encourages teens to explore entrepreneurship and embrace their financial independence.
While more kids are being taught financial literacy than in the past, most still lack the necessary knowledge to make sound financial decisions. This is where technologies like money apps and platforms like Blooom come into play. By providing user-friendly interfaces and education resources, Blooom makes it easier for teens to understand investing and make informed choices about their financial future.
Gen Z needs to understand the big picture of personal finance and investing if they want to thrive. Being debt-averse is not enough; they need to grasp the concepts of budgeting, saving, and investing. Blooom's platform offers a holistic approach to personal finance, guiding teens through various aspects of money management, including goal-setting, budgeting, and investing wisely for the future.
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As part of their commitment to financial education, Blooom has collaborated with Juni, an online learning platform, to provide free access to the On-Demand Introduction to Investing course until the end of April. This collaboration aims to empower teens with the knowledge and skills necessary to make informed investment decisions. Additionally, Blooom will award the top three performers of the course, further incentivizing teens to engage with financial education.
