Steve Quirk, Chief Brokerage Officer at Robinhood, explains that there are alternatives if you’re nervous about getting into the markets.
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00:00Right now, if you look at the market, there's a lot of volatility that's happening.
00:04There's a lot of uncertainty, and our customers are young, average age of just over 30.
00:09Some of, most of them, half, at least half, are first-time brokerage customers.
00:14So navigating what I'll call volatile waters can be new to them or intimidating.
00:20My advice to some of the younger people, look, if you ever feel uncomfortable in any area of investing,
00:27there's an easy path to deal with that level of discomfort.
00:33It's just take a step back.
00:35And there's a reason we have a yield product.
00:37It earns 4%, which is about 10% higher than you're going to get at a bank.
00:41If you're not comfortable investing right now, then just step out.
00:454% is better than zero, and when you feel more comfortable with what you think is going to happen in the market,
00:53then you can step back in.
00:54And that's a very natural thing to do.
00:56This is all about, you know, that's the beauty of investing.
00:59You get to do it your way.