Let's face it, a large percentage of young people today are thinking riches can come fast through "investing" in the right stock or crypto.
And to some degree they have been right when they see certain meme stocks and cryptos go nuts over the last year or two. Robinhood, with its commission free trades, has become amazingly popular among 18-29 year olds. Super easy to set up an account.
But here's my caution. While I like the democratization of the financial markets for anyone to begin investing, you have to look at investing versus gambling.
Gambling is simply buying a stock for a short period of time hoping it will go up fast. And Robinhood can give you this ease of entry and kind of a gambling thrill.
But always keep in mind that to create wealth over time, let time do the heavy lifting through automated monthly investing in a group of stocks in a mutual fund or ETF.
You have what it takes to Do Money Differently and live a life that fits your dreams!
P.S. Don't forget you can receive a $25 bonus by opening up a new investment account with Acorns here.