Richie is a social Investment platform developed for millennials by millennials. Create an investment goal with your friends & save together.
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Richie is a social Investment platform developed for millennials by millennials. Create an investment goal with your friends & save together.
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website is clean and very clear. Doesn't take to long to sign up too so starting a venture is pretty quick and easy. My friends were all planning to go to India next year so using Richie would be a good platform to use since we can set it together as a goal. However its not a app yet so it will be hard to get them to use the product. I think they would find it taxing to use the computer to sign up rather then just use a app on their phone. Even if they sign up on their phone's browser, that still adds an extra step.
I think this is a great concept... I don't know if they can grow tho
Any tool that creates an incentive to save is a good start, however, investing is best practiced as a long term practice. Investing with friends towards a common goal (a vacation, for example), and using Richie to set a targeted portfolio value fails as a good tool under the assumption that the estimated returns are realized. What happens if you book a trip based on what Richie estimates your portfolio value will be in 6-12 months from now, and the market tanks?
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