Millennials Are Gonna Pay Big

My friend L wants to live out of a van.

For the moment, she works for Whole Foods and walks dogs for extra cash. The rest of the time, though, she climbs — indoors or outdoors, it doesn’t matter.

Every time she’s able to put together a few days of paid time off … she’s off scaling mountains in Kentucky, West Virginia, Tennessee or Colorado.

And now she’s ready to take this hobby to the next step.

A month ago, L told me she’s going to commit to climbing — all the time. That means living out of a van, one she’s been outfitting herself. It’ll have a bed, a mini-kitchen, gear storage — everything she’ll need to live life on the open road.

Now this might seem like an unusual choice, but L is 25 — she’s a millennial. And her generation is increasingly able to make decisions like these because millennials are incredibly adept at exploiting the new technologies that make them possible.

In fact, these technologies are setting up to make investors a fortune…

One of the potentially biggest technologies that L will be taking advantage of is mobile banking.

The reason is simple: Since she’s living on the road, she’s going to need to “gig” for money while she travels.

A gig is a job with no employment arrangement. That could mean quickly helping someone with a fast home-construction project or acting as a research assistant to people like me who need information quickly for an issue. Other gigs are more sophisticated, like writing a small part of a computer program.

In some instances, your client could be someone in Singapore, Dubai, New York or London.

After you complete the gig and it comes time to be paid, the client simply sends you the money using a smartphone app, such as Venmo, PayPal or Dwolla. So it’s easy for people like L to make money while they’re traveling in pursuit of their passions.

As a result, this type of payment platform is gaining wild popularity.

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Paul Mampilly joined The Sovereign Society in 2016, and serves as Senior Editor specializing in helping Main Street Americans find wealth in growth investing, technology, small-cap stocks and special opportunities.

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