#young-investors

#young-investors

The first thing I did was I bought an insurance policy. Many of my coworkers used their first cash piles to buy cars instead. Life insurance is a form of savings because you build up value in the insurance company that you can tap if you need it.

Recently released data from the FINRA Investor Education Foundation (1) shows that about 25% of U.S. adults surveyed say they use recommendations from social media influencers when making investment decisions. Among people aged 35 and younger, the share jumps to 61%. Even more concerning: 57% of people with less than two years of investing experience reported relying on social media for financial guidance.

Maximizing contributions to the Roth IRA and investing primarily in equities is a wise idea for a young, new investor.