Banks, investment advisors, financial planners only target rich people with money or people with full-time positions to help them get their personal finances together. Most millennial and generation X cannot afford a financial planner or have time to think about planning their finances using an excel sheet or by hand in a notebook. Studies have shown that most millennials and generation X get their financial information from facebook and twitter, which at times can be miss leading. In addition, most competitors such as “IMarket Live” only educate and advise their users to participate in high-risk financial markets leading them to high financial losses.
Banks, investment advisors, financial planners come at a cost most millennials and generation X cannot afford. This app/business provide millennials, generation X, and other users access to a complete financial plan, not just the wealthy. With just a few minutes a month, users can build, keep track of their own financial plan, and learn how to invest in asset classed markets.
What I Will Do With $5,000
The $5,000 will be used to develop a comprehensive financial app that would provide millennials and generation X with information on investing, financial planning for short term and retirement goals, and track student loan indebtedness and growth rate. The app would charge users a monthly subscription fee for educational courses and investment advising services. It will be 4 different levels of the course and 4 different subscriptions for each course (basic, intermediate, and advance).