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Show Comment on this story at: signpost.mywebermedia.com T O LV E V N M I L I S IP AN SH STUDEN MyWeberMedia.com | October 17, 2019 | 13 T you manage yourself.” In a report for the St. Louis Federal Reserve Bank, Ray Boshara explained that millennials do not start investing because they are confused by the markets or they feel that they do not have enough money to start. Former club president and WSU graduate, Jake Kruitbosch, sees the Wildcat Investors Club as an important resource for helping young students overcome these objections. “I think investing is a key component to retirement. I do not think anybody can retire without investing,” Kruitbosch said. “It is really scary how few people have any kind of plans for retirement.” Kruitbosch invites students from all majors to participate with the club. “Members in the club develop a good qualitative sense and quantitative skills that any kind of employer values,” Kruitbosch said. The club meets every Tuesday at noon in Wattis Building room 218. Free pizza is available. The club also organizes a yearly trip to New York City in the spring. Participation in the club does not require previous investing experience and students do not need to be business majors. EN owned 93 percent of all the stocks traded. The same CNBC report also illustrated that the aftermath of the 2007-2008 Financial Crisis is still rattling Americans. Because of this, many choose to put their money in low-risk accounts such as high-yield savings, money markets and certificates of deposit. However, a survey by Bankrate.com presented that 26.2 percent of millennials do not know their current savings rate, and 41.1 percent are earning less than one percent on their already meager savings. A report by Bloomberg demonstrated the risk associated with relying solely on savings accounts. According to the report, many savings accounts offered by banks do not offer interest rates that keep up with the two percent rate of inflation. This means that money stored in these accounts is slowly losing its purchasing power. In comparison, a conservative stock portfolio, even in a down year, could produce returns between three and five percent, easily beating the savings and inflation rates. In a good year, a well-managed stock portfolio could produce even higher returns. This is the “secret” that Fan wants to share with Weber State students. “I think everybody should have some knowledge about investing,” Fan said. “Because nowadays, there are no pensions. You just have a 401(k) or I.R.A that D LEADER Get Involved! • Student Government • Clubs and Orgs • Leadership Programs • Events such as Homecoming • And so much more! Stop by SIL to see what opportunities are waiting for you! WSU OGDEN Shepherd Union Room 326, 801-626-6349 WSU DAVIS Building 3 Suite 221, 801-395-3441 Photo by Austin Distel on Unsplash Visit weber.edu/studentinvolvement for a list of upcoming events! WSUSA @weberstudent @Weberstudents |