It may not seem like earth-shattering news but investment adviser, Charles Schwab, now has a Twitter account. Check out @SchwabMoneyWise if you don’t believe us. But why on earth are we wasting time telling you about it and, furthermore, was it even worth the miniscule exertion of effort it took to type these words? We think so. Even though everyone and their pet cat has a Twitter account, the fact that this legendarily stuffy, conservative – dare we say snooty – company has chosen to engage young investors on their own turf, the social media, speaks volumes of a change in the proverbial wind back at Schwab headquarters.
“We can no longer simply talk at this generation,” said Charles Schwab Foundation president Carrie Schwab-Pomerantz. “Social media isn’t just a place where young adults spend their time, but it’s also a place that allows for a two-way conversation.”
Strong words indeed for a company that has always chosen to talk AT its audience rather than engage in actual conversation. Schwab’s Twitter assault, which is not likely to set the world on fire all at once, is part of a larger effort by the company to access young investors on the own turf and try to educate them about money, investing, and finances.
At Young Wealth, we have to say we think any education at all aimed at young people and understanding finances is a step in the right direction, especially in light of the woeful job that most public school systems do in this area. Understanding how money works is the first step towards learning how to generate more of it through savvy investing. We’d love to see each and every one of our readers reach the land of financial independence and if it takes Charles Schwab strutting their stuff in the happenin’ world of social media – you go, Chuck.
Remember, though, that Schwab
is a stock market company. We would like to suggest that you not get so caught up in the Schwabification of America that you forget that the proven best investment in history is real estate. Not just any old chunk of real estate but the kind that makes you a landlord, collecting passive income every month. We call it income property investing. It’s powerful stuff. The kind of stuff that could lead you to the land of financial independence if you let it.
The Young Wealth Team
(Flickr / _DaniloRamos)