This App Helps Teens Invest Responsibly With Parental Permission
Rahul Kalvapalle — November 16, 2021 — Tech
References: joinbumper & ketv
A pair of entrepreneurially minded college students have launched a new investing app that is specifically focused towards members of the Gen Z age group who want to be able to dip their toes in the stock market, learn about responsible investing and develop financially sound instincts without getting taken advantage of.
The 'Bumper' investing app is designed to help parents and families play a role in teenagers' investing experiments. Once a teen has an adult sponsor, they can register to start using the app. What's more, parents are able to keep tabs on the portfolio at all times, and have to approve requests before they can go through.
In addition to helping teens explore the world of investing, this investing app also gives them the knowledge to do so by offering educational modules to get users accustomed to the process of researching companies, trades and risk factors.
While investing apps have increasingly targeted the millennial demographic in recent years, the fact of the matter is that with most members of that cohort in their 30s and 40s, there's a growing necessity for investing options targeting the next generation, which is precisely what the 'Bumper' app is poised to provide.
Image Credit: Bumper
The 'Bumper' investing app is designed to help parents and families play a role in teenagers' investing experiments. Once a teen has an adult sponsor, they can register to start using the app. What's more, parents are able to keep tabs on the portfolio at all times, and have to approve requests before they can go through.
In addition to helping teens explore the world of investing, this investing app also gives them the knowledge to do so by offering educational modules to get users accustomed to the process of researching companies, trades and risk factors.
While investing apps have increasingly targeted the millennial demographic in recent years, the fact of the matter is that with most members of that cohort in their 30s and 40s, there's a growing necessity for investing options targeting the next generation, which is precisely what the 'Bumper' app is poised to provide.
Image Credit: Bumper
Trend Themes
1. Teen Investing Apps - Teens are becoming more financially savvy through investing apps that provide educational resources and parental oversight.
2. Gen Z Investing Focus - Investment products created with Generation Z interests and knowledge in mind have potential to disrupt the traditional investment landscape.
3. Youth Financial Literacy - Investment apps have the potential to enhance financial literacy for young people, filling a gap in traditional education programs.
Industry Implications
1. Fintech - Fintech companies can develop innovative investment products that target younger demographics and offer educational resources.
2. Education - Educational institutions can incorporate investment education programs into their curriculums and partner with investment apps to offer real-world experiences.
3. Parental Control Apps - Investment apps that offer parental oversight have the potential to disrupt traditional personal finance management apps and services.
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