According to a Fidelity study of teens ages 13 to 17, 75% say investing is important to them while only 23% have actually started to invest. Fidelity SVP of Emerging Customers Kelly Lannan and Economics Founder Ross Mac join Wealth! to break down the importance of investing at a young age and give advice on how to get younger Americans to take their first steps into the market world. Lannan dismisses a misconception about teens and investing: "I also think sometimes there's a misconception that teens are going to social media or other sources in order to get their advice. Yes, of course they're doing that, but often teens are telling us the very first place they go for advice, for guidance, for their questions is to a family member. More often than not, it's to their parents." Mac outlines the importance of finding a reliable source of information and starting to invest early on: "When it comes to investing, I think there's an unlearning process. But as you stated earlier, social media is effectively the new teacher, so when students, when children are looking to social media, there's obviously a lot of misinformation, but I think the most important thing is that people are starting to have the conversation a lot earlier...So when teens start thinking about investing, you're talking about an additional 20 years of compounded interest. So the fact they're having the conversation is one, remarkable, but two, it gives the ability for a person to truly turn their entire retirement, turn that whole thing around." For more expert insight and the latest market action, click here to watch this full episode of Wealth! Editor's note: This article was written by Nicholas Jacobino

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