GREENSBORO, NC --- It's on every phone but chances are the stock app is the one app you never look at.
I know I don't and yet stocks make up our retirement plans and even if you don't have retirement--stocks affect the cost of things we buy everyday.
The US stock market actually dates back to 1792. The New York Stock Exchange was founded by traders who met on Wall Street. The first electronic exchange was in 1971 when the NASDAQ was founded.
There are two kinds of stocks: growth and value. Growth stocks are companies that are focused on growing their company and value stocks are more stable and focused on paying dividends to their investors. But all companies who issue stocks do it to raise funds to grow their business.
Certified Financial Planner Matt Logan gave me this example, "An individual like Tanya or myself buys stocks in a company. Tanya can buy the whole company, I have to buy pieces to take part in their profits wither its dividends or growth in stock. That's the idea behind investing."
And whether you're hands on with it or not, if you have a retirement account, you're investing! Logan says once thing is pretty much the same all across the board: most people don't know much about their retirement or stocks. With that said, he reminds us all, "it's your money, so ask questions".
(© 2016 WFMY)