The American education system does not focus on financial literacy in any significant way. Only 21 states actually require some form of financial literacy education and even fewer require this education to be in a designated course. As such, many young investors are not well-versed in the securities market and its many offerings.
2020: New Decade, New Financial Crisis?
The start of a new decade sparked hope that something good was coming. 2020 started off seemingly normal for most people: celebrating New Year’s, making strides towards their resolutions, and going about their normal lives as they had done in 2019. That is until COVID-19, also known as the coronavirus, tilted the world on its axis. Even though the coronavirus approached the United States slowly, it hit hard. The effects have been felt in all aspects of people’s lives: the country went on lockdown, once-booming businesses permanently closed their doors, and the economy grinded to a halt; indeed, COVID-19 is the biggest economic crisis since the Great Recession nearly a decade ago.