Investing apps that encourage you to invest like the rich are focused on active trading.
The wealthiest 10% of US households own nearly 67% of the wealth in our stock market, according to data from the Federal Reserve.
Investment apps are made for trading, not savingI put investors into two buckets: traders and savers.
Most investment apps are designed to make users act like traders: They encourage you to pick individual stocks, trade them frequently and keep a close eye on their performance.
Unless you're investing for the thrill of big wins and losses, stop seeking get-rich investment strategies from people who were already rich.
Persons:
—, Michael Jordan, Read, Stephen King, Gary Vee, I'm, Rich
Organizations:
Service, TikTok, Echo Trade, Federal