Zev Fima, Research Analyst with ActionAlertsPLUS, had a chance to sit down with three millennial portfolio managers from Greenwood Project to discuss what advice they had for other millennials looking to start investing.
• Hayes Bynum, a recent graduate of the University of Iowa where he studied Mathematics and currently is a fixed income analyst at Sandler O'Neil and the COO of the Greenwood Impact Fund
"I would say my piece of advice is just to start, I think the best teacher is life. So I think, you know, there's no point in waiting, you're young. So the, the advice I was told is that if you're young you can go broke. So yeah, I mean that's kind of my piece of advice. I think if you start, you know, even if you stumble a little bit, you'll definitely learn faster than if you're waiting and trying to figure out the right timing and being a bit hesitant about it."
• Robert Whitmore IV, an International Development major at the University of Illinois - Urbana Champaign currently serving as a Data Analytics & Transactions Marketing intern at Nasdaq and the CEO of the Greenwood Impact Fund
"My advice would be to just utilize your resources, right. If you're interested in it we have the internet today so we could Google anything, any questions you have about the industry you could find on the Internet. If you are involved in college, join an investment club... Utilize your resources and self educate yourself."
"My advice is iron sharpens iron. If you know somebody that loves investing or loves the markets, talk to them. Speaking with people is always the number one way to learn something in my book. Form a relationship with somebody, understand who they are and why they like it, and why you would potentially like it and understand how they learn versus how you learn. We just talked about risk. If you're young, you have a lot of time and probably not a lot of money and that's perfect for risk."
For those unfamiliar with the organization, it is all about introducing participants to the financial services industry. As stated on their website, greenwoodproject.org
"Greenwood Project introduces youth to careers within the financial industry via paid summer internships, educational field trips and our summer financial institute for high school students. In many cases, our programming gives young people strong motivation to succeed in their remaining high school tenure and also a compelling reason to attend college."
Check out the full video here.