Northside College Prep Class of 2021
Umair Ahmed resides in the Albany Park neighborhood in Chicago. He is currently a junior attending Northside College Prep High School. Umair joined On the Money in 11th grade in January 2020, and his anticipated graduation year is 2021. He typically writes articles about personal finance tips for youth. Umair is very passionate about finance and economics. He believes that finance and economics provide a coherent worldview in making the world a better place.
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Become Financially Literate, Live Longer
ATTENTION: America is facing an emergency and YOU may be at risk. Most Americans are financially illiterate — both working and retired individuals are unable to “understand the topic of money.” In fact, 25% of non-retirees have no retirement savings whatsoever, making them unprepared for their financial future (Federal Reserve Bank 2018).
Can Economics Save the World?
Do you think economics can save the world? Well, the economists at the University of Chicago seem to think so. On November 19th, the Becker Friedman Institute for Economics at the University of Chicago (BFI) hosted a policy round table where they discussed the implications of economics on a variety of social issues facing the world including poverty, education in third world countries, and gender inequality.
The Future in
While FinTech began primarily as highly advanced data analysis tools for investment banking and other institutional investing, it has expanded. Now, over half (64%) of global consumers use FinTech including mobile wallets like Apple Wallet, crowdfunding sites such as GoFundMe, and online banking apps (EY).
Closing the Gender Gap in Finance
18%.That’s the percentage of finance professionals who are women. Over the past 20 years, the number of women in the industry has steadily increased; however, there is still a significant gender gap that needs to be addressed.
Active vs Passive Investing
People always say to invest your money, but what does that mean? When it comes to the stock market, you can make a portfolio of stocks with the hope of increasing its value. To create a balanced portfolio, there must be diversification: investment in a variety of stocks in order to get “as much exposure to the market,” reducing risk, says Cynthia Plouche, a former portfolio manager.