The Young Investors Challenge has announced its free online investment competition for 13- to 19-year-olds in Canada and the United States launching January 4. Using an innovative web and mobile platform developed by three 18-year-old students, participants will have the opportunity to compete for $10,000 worth of cash and prizes risk-free.
Teenagers will have access to a virtual paper portfolio of $100,000 to invest in S&P 500® stocks and ETFs, including Apple, Microsoft, Facebook, Berkshire Hathaway and Tesla. Participants will compete in challenges focused on portfolio performance and strategy development and will be judged by industry professionals and leaders from prominent organizations in investment banking, wealth management and financial services.
Financial literacy crucial
"In this day and age, financial literacy has become crucial for youth,” said founders Charles Frédette, Philip Becker and Ryan Dollinger, CEGEP students from Marianopolis College and the Collégial Sainte-Anne.
“Our organization focuses on promoting saving and investment practises among the younger generation. With the platform we have created for the Challenge, teens will be able to learn the art of finance in a fun and engaging way.”