Sibling duo Spirit and Kali Rahman have built their brand Stock Up Kids to help educate others about the inner workings of the stock market before they have even entered high school.
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ABC WAMR Baltimore reports the brother and sister, now in middle school, became interested in the stock market when she was 7 and he was 9. At the time, they began paper trading, or ‘trading’ on a financial app that doesn’t use money to learn more about the market.
They used the knowledge they gained to launch Stock Up Kids to ensure others had the opportunity to learn from them as they continue to expand their financial acumen.
“We started with companies that we already knew like Nike, Microsoft, McDonald’s, and stuff like that and we just used Yahoo finance which is a free website,” Kali shared with the news outlet.
Spirit shared how the longer they continue to dedicate their energy towards learning the intricate details of the stock market, the easier it becomes.
“Well at first it was because we were 7 and 9 and it was a little complicated but as we started practicing and doing more of it we learned more and it got easier,” the preteen said.
According to the official website, Stock Up Kids “is the solution for breaking the cycle of poverty and despair.” Although they are equipped to educate their youth peers, Kali and Spirit do not limit their information to younger audiences. Through their business, they teach people of all ages about finances, trading and financial literacy.
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The company was born after Spirit expressed a personal goal of landing on The Ellen DeGeneres Show. Their parents, Gary and Calli Rahman shared that together they came up with the idea with hopes of landing their kids a spot on the show.
“On Sundays, we have roundtable meetings and we discuss not only the trades of the week, but they also have researched other trades. They go over different terms as far as they can, speak the language, and know the language well,” Gary said.
Calli added, “We’re very proud of them in the way that they carry themselves and share the information. They really want to give back.”
On their YouTube channel, Kali and Spirit share their journey as well as information on financial success. Together, they travel to colleges and conferences for speaking engagements and more. The self-produced platform showcases their lifestyle beyond being budding financial gurus – Kali wants to be a zoologist and professional athlete and Spirit loves to sing, dance, and create art.
For the Black community, learning about the stock market early could be a valuable investment. As theGrio previously reported, only 33.5% of Black households owned stocks in 2019, according to data released recently by the Federal Reserve, compared to white households where the ownership rate is nearly 61%.
“We didn’t have a grandfather or aunt or uncle or mom and dad educating us on the markets because they didn’t benefit from it because of historical discrimination in this country,” said John Rogers, founder and co-CEO of Ariel Investments, according to the report.
The difference in stock ownership between white and Black households goes back decades, but this narrowed a bit between 2016 and 2019, the most recent data available from the Federal Reserve. But researchers say the coronavirus pandemic and resulting recession may have widened the gap again, despite the rise of new retail investors entering the stock market.
This article contains additional reporting from the Associated Press.
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