This year’s Thanksgiving season is killing it, with sales smashing projections. But that doesn’t mean retailers are thriving. Quite the opposite.
This year has seen a number of major retailers go belly up this year. The year prior saw even more casualties, with 7,000 stores closing in the US in 2017.
And we’re not talking mom-and-pop bush league operations. We’re talking heavyweights like Radio Shack, Sports Authority, and Toys R’ Us knocked out by the relentless pressure from e-commerce.
So about e-commerce. Sales growth online is pulling ahead; 17% vs. 6% year-over-year in Q4’17. Amazon controls upwards of 40% of US online sales in the US, according to the US Department of Commerce and Slice Intelligence.
This should bode well for Cyber Monday, the big online sales bonanza. Not a coincidence “Bezos, Jeff” is the richest man alive.
3 Ways To Invest From Your Smartphone For Under $5
The numbers say 80% of millennials don’t invest in stocks.
Reason? Half say they don’t have money, one-third says it’s too early and another third says they don’t know how.
In addition to that, there’s demographic gap. “The average age of a financial advisor is 55,” said Douglas Boneparth, a New York City-based financial planner. “There are more financial advisors over the age of 70 than there are under 30.”
Despite these beliefs, you don’t really need much money, nor experience, to get started. (Just look at our fearless co-founder Odunayo Eweniyi and what she’s pulled off here)
Be that as it may, here are three ways to get started for $5 or less.
What: A micro-investment app (iOS and Android) with over 30 ETFs according to industry, sector and risk tolerance.
How it works: Download the app and choose your investment.
Minimum investment: $5
Cost: Fees range from $1 a month for accounts under $5,000 to 0.25% a year.
“We help people who don’t have a lot save money on a weekly basis,” CEO and co-founder Brandon Krieg said in one interview. “Stashers look like America, they look like people you meet every day: they are nurses and teachers and Uber and Lyft drivers.”
What: iOS and Android app.
How it works: Download the app and choose one of six index funds. When you buy, say a cup of coffee for $1.75, it rounds up the change to $2 and deposits the difference.
Minimum investment: $5
Cost: Just like Stash, fees range from $1 a month for accounts under $5,000 to 0.25% a year.
“We’re not trying to preach austerity to the client, because that’s a bummer,” CMO Manning Field says. “Some people will say, ‘Don’t have the cup of coffee.’ We’ll tell you to have the cup of coffee and invest along the way.”
What: A commission-free investment app (iOS and Android).
How it works: Download and start buying stocks.
Minimum investment: Whatever stock you want to buy.
And by the way, if you want to get a fast start on real estate, here’s Forbes’ list of nine REITs with yields between 8% and 10%.
CHART: How Blockchain Powers Bitcoin
Blockchain, Bitcoin. Bitcoin, blockchain.
The two terms go hand in hand—and have become almost ubiquitous with this year’s insane rise (and fall) of Bitcoin.
But what does it all really mean? How does it come together? In this week’s chart, our friends at CB Insights break down exactly how blockchain powers Bitcoin.
VIDEO: Shark Tank’s Mr. Wonderful Demonstrates Compound Interest
How young should your children be when you start teaching them about money? How should I teach my children about money?
The key to children and money is explaining what it is to them early in life. Shark Tank’s Mr. Wonderful, Kevin O’Leary, answers all these questions with this tip on explaining compound interest to your kids.