Jeremie SaintVil

It was an attention-grabbing, albeit clickbait-based title that you may have seen, particularly if you fall between the ages of 18 and 35. It read, in big, bold sans-serif letters “74% of Millennials Are Making a Huge Financial Mistake–Don’t Be One of Them.” The incredible 74-percent figure referenced in the title of the article from the Motley Fool refers, of course, to those who do not have investment portfolios or own stock in any businesses. There’s no need to read any further into the article in order to understand that the incredibly high percent of what has now become the most populous generation in America are missing an enormous opportunity.

 

Investing By the Generation

Depending on who you ask, words and phrases like “joint stock company,” “index fund” or even  “stock options,” might elicit some very different responses from the listener. For millennials, the reaction might be casting their vision downward, shaking their heads, muttering under their breath or changing the subject. It’s an incredibly simple–and equally disappointing–fact that millennials are not nearly as involved in investing as their older counterparts. According to Marketwatch, 58 percent of people between the ages of 50 and 64 own stock, make it over twice as likely for a baby boomer to be involved in the stock market than a member of generation Y.

 

Why Aren’t Millennials Investing

Most millennials who haven’t taken the time to build a proper investment portfolio have neglected to do so for one of three reasons.

 

  1. They lack the knowledge
  2. They lack the courage
  3. They lack the capital

 

Each of these reasons presents a very real–and often very legitimate–excuse for Gen-Y’s seemingly innocent avoidance of the stock market. So while millennials may lack the knowledge, nerve and capital to start investing, each of these problems is readily fixable. Knowledge of the stock market, the ins, outs and intricacies can be gained if time and effort is put it on behalf of the learner.

Overcoming the fear can be instilled. Confidence in what you’re doing isn’t easily taught, but can be introspectively gained through repeated attempts and repeated success.

While capital has been a longstanding issue as the cliche remains that the stock market is only for the wealthy and well-off among us, the stigma couldn’t be further from the truth. A basic financial education can help teach millennials not only about properly managing their money, but how to invest for maximum return. An education centered around investments and the stock market could be key in forcing millennials to realize that they often do have the money, they just might not be using it right.

 

Where (and When) does VERB Come In?

Another reason that most millennials seem to avoid the stock market like the plague–one that isn’t often reported on in the media–is the lack of “fun,” and familiarity in the act of investing. It has been reported time and time again that millennials are, more than any other generation, obsessed with the idea of having fun. They want to have fun at work, fun at school, and fun at home. So how could something as dull, dry and bland as the stock market possibly be categorized as “fun?” It’s an idea that many organizations have dwelled on, but few have perfected.

With a reported 26 percent of millennials reporting having money in investments, it’s clear that, for many, the interest either isn’t there or perhaps more accurately, is laying dormant. But like the snapping of a twig or closing of a door could abruptly awaken the metaphorical sleeping guard dog, simple changes in the approach of investing could awaken the livelihood of investing for a good portion of today’s youth.

VERB will be that tool. When the app is launched on July 7, the investing game will change.

With VERB you can play, learn, socialize and earn. VERB is about empowering Millennials to manage their money seamlessly while having a great time doing so. VERB believes Millennials can figure this out with the need for paying large banking fees. They just need a fun platform with no risk and one the enables them to acquire real cash for just loving to learn. VERB is the only mobile application that can do that.