Kevin O’Leary has always been a strong proponent of investing. With his new Beanstox app, O’Leary hopes to motivate millennials to invest in a portfolio, regardless of the amount, as the app allows users to purchase fractional shares.
“We teach young people everything: geography, math, sex education… but we don’t teach them about investing,” O’Leary said on the Steve Harvey Show on Monday. “The average salary in America is $52,000. And if you put aside 10 percent of what you get paid, by the time you are 65, you’ll have $1.2 million in the bank. Nobody teaches them that.”
O’Leary said he is a man on mission with his Beanstox app, saying the app can be downloaded for free and users can learn how to invest.