My first experience with investing was not opening a Roth IRA when I got my first job. Like so many other young adults, my foray into investing began with downloading the Robinhood app. The median age of users on the app is 31 (if anything, that might sound a little high) and
I’ve never used that app before but certainly hear a lot about it. Your analysis sounds accurate to me. It’s important to recognize that it’s not a bug but a feature; it was designed to make them money (not the consumer). Behavioral economics at it’s worse.
Great article and putting it in layman's; I like the comparison to the lottery. I shared this with my younger sister as she was recently asking me about Robinhood and how to start investing. I told her to buy and hold, which is tough when you have an app to easily check your gains/losses 10x a day.
Enjoyed article. Wish you would have covered crypto as lots of people buy Crypto on Robinhood. Some recommend having 3 to 5 percent of portfolio in crypto.
Great communication Daniel and analysis. Keep it going!