Steve Quirk, Chief Brokerage Officer at Robinhood, explains that there are alternatives if you’re nervous about getting into the markets.
Transcript:
Right now, if you look at the market, there’s a lot of volatility that’s happening. There’s a lot of uncertainty. And our customers are young. Average age of just over 30. Some of them, most of them, at least half are first time brokerage customers. So navigating what I’ll call volatile waters can be new to them or intimidating.
My advice to some of the younger people. Look, if you ever feel uncomfortable in any area of investing, there’s an easy path to deal with that level of discomfort. It’s just take a step back. And there’s a reason we have a yield product. It earns 4% which is about 10% higher. And you’re going to get at a bank if you’re not comfortable investing right now, then just step out. 4% is better than zero. And when you feel more comfortable with what you think is going to happen in the market, then you can step back in. And that’s a very natural thing to do. This is all about, that’s the beauty of investing. You get to do it your way. I think that was very good.
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