Recent Research Shows Younger African-Americans Invest at Lower Rates
Than Other Americans In Their Age Group
NEW YORK–(BUSINESS WIRE)–Invstr,
the leading investing app educating the next generation of investors,
launches Stock Market Tracks, a new investing-themed rap competition to
inspire young people to learn about the world of finance through music.
The competition, which offers a $1000 cash first prize for best song, is
aimed to encourage individuals to sharpen their investment knowledge in
a creative way. While African-Americans have been closing the gap, studies
have still found that they aren’t investing at the same rates, and only
23 percent of Americans aged 18 to 37 say that the stock market is
the best place to put money they won’t need for 10 years or more.
Invstr is partnering with New York City-based STEAM 16 — a youth
organization that focuses on making Science, Technology, Engineering,
Art and Math accessible through the “16 bars” in a rap verse — founded
by Ron Livingston. Growing up in the foster care system in Camden, New
Jersey, Ron noticed that students are falling behind, particularly in
communities of color, because schools are failing to present and
integrate STEAM subjects. He was inspired to educate students in these
communities through entertainment.
“Our goal is to open up finance to people who may never have considered
investing as an option before. This competition is a great way for
people to start thinking about an investment portfolio,” said Kerim
Derhalli, founder and CEO of Invstr. “Music is a great medium to learn
and we hope that this competition opens doors to the world of finance.”
“If minority communities had access to better investment tools and
resources, they would be able to put money back into their communities
more effectively,” said Ron Livingston. “Prominent rappers are investing
in startups and launching their own businesses, and the Invstr and STEAM
16 partnership builds on this momentum so minority groups can also
successfully manage their money. Invstr makes it easy to learn how to
invest before taking on real stock market risk, which aligns perfectly
with STEAM 16’s goal to demystify the world through rap music.”
To participate, entrants create a one-minute song using investing terms,
such as Diversification, Cryptocurrency, Bulls, Bears, and Buying the
Dips. Submissions to the competition will be posted onto the @StockMarketMusic
Instagram account, where anyone can cast their vote on the best video.
Individuals interested in participating can click here
to submit their video.
Invstr’s award-winning financial literacy app helps young people learn
about the financial markets through an engaging “Fantasy Finance” game
that allows users to compete and learn about investing in a fun and
risk-free way. The app includes real-time market data and enables users
to also invest in the real stock market from as little as $1.
Invstr has reached over 200,000 Fantasy Finance users in just six months
and has been promoted by Apple’s App Store as a popular finance app over
2,000 times worldwide.
About Invstr Ltd.
is the award-winning smartphone app empowering everyone to take charge
of their financial future. Founded by Kerim Derhalli in 2013, the app
combines fun, learning and competition to break down barriers and help
users become better, more confident investors.