In this digital age, technology has revolutionized various industries, and the financial sector is no exception. In a recent interview on Tech Leaders Unplugged, Tullio Siragusa, the host, spoke with Wesley Belden, CEO of Raise Financial, about the power of technology in shaping the future of traditional investing. The conversation focused on a staggering statistic - 78% of millennials lack confidence in their ability to retire. Wesley and his team at Raise Financial are on a mission to change this by using innovative technology to provide a solution for the younger generation to secure their financial future.
From Unconventional Beginnings to Financial Entrepreneurship
Wesley Belden's journey into the finance world began unconventionally. With an undergraduate degree in sociology and chemistry and a minor in anthropology, he took a path less traveled and landed in the world of finance. Despite this unconventional start, he embraced the opportunity to learn the language of finance and pursued an MBA, setting the foundation for his financial career. Having benefited from a debt-free education, Wesley understood the importance of financial freedom and how it can open doors for people to invest in themselves and their future.
The Unique Challenges Faced by Millennials
Wesley emphasized that the financial challenges faced by millennials are not due to a lack of desire to invest or plan for their future. Instead, they are often burdened with student loan debts that make it challenging to invest early in their careers. High student debt coupled with soaring housing costs in desirable job locations further exacerbates the situation. This leads to the inability to take advantage of compounding returns that could significantly impact their wealth-creation journey. Wesley and his team at Raise Financial aim to use technology to help millennials multiply the impact of their resources and achieve financial success.
A Novel Approach to Financial Empowerment
The heart of Raise Financial's approach lies in making investing easy and seamless for users. By leveraging technology, they create user-friendly platforms that automate investments, making it easier for individuals to build wealth over time. The company adopts a unique investment approach that allows users to benefit from upfront capital to kickstart their compounding returns. The concept resembles a mortgage, where users can live in a house and enjoy its appreciation while paying it off over time. This innovative approach bridges the gap between those who can afford to invest upfront and those who cannot, democratizing access to financial success.
The Road Ahead and the Power of Disruptive Technology
Raise Financial's mission is to provide financial solutions that empower the 78% of millennials who lack confidence in their retirement. Through their innovative tech-based investment approach, they aim to democratize investing and give everyone the opportunity to secure their financial future. As they continue to grow and scale, Wesley envisions expanding their reach and possibly partnering with institutional players to extend their impact. By using technology to disrupt the traditional financial landscape, Raise Financial is poised to change the trajectory of countless lives and empower future generations to thrive financially.
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