NGPF Podcast welcomes back Kelly Lannan from Fidelity to talk Gen Z and their increased interest and access to the world of investing. The past year has seen increased stock market participation with the meme stock craze, new trading platforms with no fees and low minimums and the influence of social media (TikTok and WallStreetBets come to mind). Kelly shares what she is seeing in her role at Fidelity and how her company is embedding education into their apps geared for a younger audience. Enjoy! 

Details:

• 0:00~1:21 Introduction
• 1:21~3:13 Kelly’s role at Fidelity and passion for personal financial education
• 3:13~5:11 Meme stocks and the increase of young retail investors
• 5:11~7:36 How Fidelity educates its users on investing
• 7:36~10:26 The Fidelity Youth Account
• 10:26~13:15 The dangers of options trading and trading on margin
• 13:15~14:03 A word from NGPF
• 14:03~17:13 Social media, pandemic, and the rise of cryptocurrencies
• 17:13~20:21 Catalysts that led to the increase in access for people to invest
• 20:21~23:28 Type of personal finance resources and tools that are most popular
• 23:28~26:00 Findings from surveys on how GenZ approaches investing
• 26:00~29:09 Tips for novice investors
• 29:09~30:20 Conclusion

Resources:

• Fidelity Spire
• Fidelity Youth Account
• Fidelity on TikTok
• NGPF Podcast: Tim Talks To Fidelity's Kelly Lannan About The 2018 Millennial Money Survey

Quote:

“Before you start investing, you have to make sure you at least get a handle on your finances… Until you actually kind of do a financial gut check assessment, or whatever term makes you more comfortable, you should not get started investing. You need to understand a little bit more about your money before you take that first step.”

About the Authors

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

More posts by Tim

Ren Makino

Ren started interning at NGPF in 2014, and worked part-time through high school and college. With his knowledge growing alongside NGPF, he joined the team to work full-time after graduating from college in 2020. He is also the producer of the NGPF podcast. During his free time, he likes to try out coffees from different roasters across the world.

More posts by Ren