Millennials/Generation Z encouraged to improve their financial fitness with $45 in free F45 stock

New Ways of Investing - Hands Only Using Smart Phone

Global fitness company F45 Training, a Mark Wahlberg-backed franchise, made its debut in the New York Stock Exchange this past July. A worldwide success with almost 3,000 franchises in over 60 countries, F45 continues to expand and is now adding F45 stock investing to its growth strategy.

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Digital brokerage platform Stake is encouraging Millennials and Generation Z to kickstart their financial fitness by offering $45 in free F45 stock investing to new users.

Andrew Dengate of Stake explains: “Increasingly, we are seeing people, particularly of younger age groups, looking to more actively manage their wealth by treating their financial fitness much like their physical fitness. However, this number is still significantly lower, so we want to use today’s F45 IPO as an opportunity to encourage investors (of all ages!) to kick-start their financial fitness journey.”

The F45 stock investing option fits Millenials’ investment choices

While research shows that 76% of millennials are exercising at least once a week, only 54% believe they are saving enough money and just 43% are actively investing in the stock market.

Stake is encouraging people to prioritise their financial fitness in the same way many do their physical fitness. And they’re doing this by offering a F45 stock investing option to kickstart that journey.

Stake has a unique position in the UK market. Originally an Australian company, Stake does not offer any UK stocks. Instead, it focuses on the American market with direct investments in over 4,000 US stocks and ETFs. It also offers free trading, no FX on trades and no inactivity fees. For those who are curious about the platform, signing up with an F45 stock investing gift could be a good move. 

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Money habits of millennials

According to Investopedia, millennials face an uncertain economic future. They are unsure that they will be able to meet key financial goals such as saving for their retirement or buying a home. Millennials’ stock investing philosophy is also different. They prefer to put their money in companies they care about or support.

For many, that means companies that are connected to social responsibility and the environment. For others, it’s about companies that supply services they use anyway, including fitness and wellness such as F45.

The pros and cons of investment apps

If the F45 stock investing option sounds appealing, carefully consider whether investing through an app is right for you. Investment apps are great for beginners, as they make it simple to invest with just one click. Many apps, including Stake, also offer premium accounts with data on price targets, analysts ratings, and full company financials.

If you don’t want to spend time researching the market on your own, finding information about companies like F45 right in the app will make things easier. 

On the negative side, apps don’t provide personalised advice and guidance. This is usually a good idea if you’re looking to invest large sums and want to reduce your risk.

Fees are another issue. Before committing to investing through a particular app, read the small print. Fees can add up, even if they seem small at first.

Finally, as with all investments, when investing using an investment app, you may get back less than you put in.

The post Millennials/Generation Z encouraged to improve their financial fitness with $45 in free F45 stock appeared first on The Motley Fool UK.

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