Greenlight Max Aims to Teach Kids How to Invest
The children’s television series “Sesame Street” teaches children valuable life skills like as budgeting, spending wisely, and helping one another. Greenlight Financial is introducing an additional life skill that is almost as significant: investing.
Greenlight Max is the next offering from the fintech startup that brought you the parent-managed debit card and app for kids. Greenlight Max is geared at teaching youngsters how to invest in the stock market.
Greenlight claims that its new approach will address a gap in educational opportunities since investing skills are not often taught in schools on a widespread basis.
According to a survey compiled by Next Gen Personal Finance, a nonprofit organization that offers free personal finance curriculums, the number of states that require all high school students to take classes on personal finance has decreased to only six.
According to a survey that was carried out by a worldwide analytics company called Gallup during the months of March and April, 45 percent of American adults said that they do not hold any kind of stock.
It’s possible that one method to help close such disparities in financial knowledge and investing is to start educating children at a young age how to invest their money.
Greenlight Max is an upgraded plan for families that includes all of the standard features in addition to the following: the ability for children to conduct research on stocks using data analysis provided by the financial services company Morningstar; the ability to learn from in-app educational content; the ability to buy and sell stocks and mutual funds with parental approval; and the ability to track portfolios.
“Tim Sheehan, co-founder and CEO of Greenlight, made the following comment in an interview: “Investing is one of the most crucial components of the personal financial jigsaw.” “In order to help parents establish a solid financial footing for future generations, we devised Greenlight Max.”
Greenlight Max costs $9.98 per month per family and offers extra improved features such as smartphone, purchasing, and identity theft protection in addition to not charging any transaction fees for investments.
Greenlight’s conventional banking plan continues to be offered at the same price point of $4.99 per month per family, while the Greenlight Invest plan, which provides families with access to investment options, costs $7.98 per family, per month.