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Wednesday, August 18, 2021

The Daily Money: Should teens be encouraged to invest?

In today's Daily Money newsletter, we have insights on the T-Mobile cybersecurity hack, teenage investors and an FDA warning on dog food. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 
usatoday.com

The Daily Money
 
Wednesday, August 18

Good morning, it's Nathan saying hi this Wednesday morning!

💹 I was fortunate to learn some basic money tips in a high school economics class two decades ago. I know a lot of students don't have the privilege of having such a class.

I distinctly remember my teacher preaching the virtues of the Roth IRA. He urged us to start as soon as possible.

But should teens be allowed to invest in stocks on their own? Some are beginning to. More on that below from my colleagues Craig Harris and Jessica Menton.

💰 The Daily Money is USA TODAY's Monday-through-Friday-morning roundup of all things personal finance, business and tech. If this email was forwarded to you or if you found it online, you can subscribe for free here!

On to our ... 

💡 INSIGHT OF THE DAY: Teenage investors are joining the stock market thanks to programs like Fidelity's that allow 13-to-17-year-olds to trade by themselves. However, several competitors told USA TODAY that Fidelity's program raised some eyebrows in the banking industry as most other institutions only allow custodial accounts for teens, meaning they require an adult to execute a trade. 

⌚ WHAT TO WATCH FOR: T-Mobile customers need to keep an eye out for this one. T-Mobile has been struck by yet another data breach. This time the data includes personal information like Social Security numbers, birth dates and names for tens of millions of customers

📰 And here are more stories you won't want to miss:

1. Make sure you don't have this dog food: The FDA says more than 130 dog deaths and 220 illnesses may be linked to brands made by Midwestern Pet Foods.

2. Nissan is stripping the numbers from its 370Z sports car: Meet the 400-horsepower 2023 Nissan Z.

3. Going to college could cost unvaccinated students more than vaccinated students: Some colleges are imposing COVID testing fees on students who resist the shots.

4. Say goodbye to separate sections for women's clothes based on size: Old Navy will merge them and offer sizes of 0-28 for each in-store item.

5. The iPhone 13 is coming: Here are the latest rumors and reports on Apple's next smartphone.

6. Got your COVID-19 vaccination pass? You can store it in your Samsung Galaxy and your iPhone.

7. Robots are getting good: Boston Dynamics showcased one that can do gymnastics.

Yes, but can robots write this newsletter?

Wait, they can?!

--@NathanBomey

Alex Kearns (center in glasses) killed himself thinking he had suffered huge financial losses on the Robinhood website. His family filed a wrongful death suit against the company, which was settled. Also pictured are Alex's sister Sydney (front), father Dan and mom Dorothy.
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