My friend L wants to live in a truck.
At the moment, he works for Whole Foods and walks dogs for extra money. The rest of the time, however, it goes up, indoors or outdoors, it doesn’t matter.
Every time you can put together a few days of paid time off … you’re climbing 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 that he was going to commit to climbing, all the time. That means living in a van, one that she has been outfitting herself. You will have a bed, a mini kitchen, equipment storage, everything you will need to live life on the road.
Now this may seem like an unusual choice, but L is 25 years old, he’s a millennial. And your generation is increasingly capable of making decisions like these because millennials are incredibly adept at exploiting the new technologies that make them possible.
In fact, these technologies are being set up to make investors make a fortune …
One of the potentially most important technologies that L will benefit from is mobile banking.
The reason is simple: since you live on the road, you will need to “perform” for money while traveling.
A concert is a job without an employment contract. That could mean quickly helping someone with a quick home construction project or acting as a research assistant for people like me who need information quickly on a problem. Other jobs are more sophisticated, like writing a small part of a computer program.
In some cases, your client could be someone in Singapore, Dubai, New York, or London.
After the concert is complete and it’s time to get paid, the customer simply sends the money to you via a smartphone app, such as Venmo, PayPal, or Dwolla. So it’s easy for people like L to earn money while traveling in pursuit of their passions.
As a result, this type of payment platform is gaining great popularity.
Follow the millennial money
Remember, L is not the only one doing this. Their entire generation, the millennial generation, see this way of life as a viable option because they have grown up with smartphones and the Internet, which have become as vital to them as electricity and water.
As you may know, millennials are between the ages of 18 and 34 today. This generation numbers a whopping 92 million people in the US alone, making it the largest generation in history, surpassing the baby boomer generation of 77 million.
Globally, it is estimated that the millennial generation reaches 2 billion people.
And many of the habits of American millennials are shared by their peers in Australia, the UK, China, India, Brazil, Russia, etc.
In other words, if you’re traveling, it won’t take long to meet a millennial who, like my friend L, is pursuing a passion: outdoor rock climbing, surfing, diving, mountaineering, volunteering, etc.
Most of them rely on mobile payments to get paid while pursuing their passion. And other millennials who are still rooted in one place also use these services. They can use a platform like PayPal for everyday activities, like transferring money to a friend or paying for their rides on Uber.
In fact, a recent survey showed that 15% of millennials use mobile payments multiple times a day. Another 10% use it once a day. And 29% use it several times a week.
It’s no wonder, then, that mobile payment growth is skyrocketing. For 2016, growth is expected to reach 183.3%, and is expected to double in 2017. By 2020, total transactions are expected to reach $ 314 billion, a growth of 1,034%!
That’s where you want to be as an investor: in explosive growth trends like that.
Bet on a powerful trend
I expect similar gains for the millennial-based stock recommendation I publish this month.
Now, I can’t give these shares away here for free. And right now, there is no ETF that is liquid enough to recommend it to capture this millennial megatrend. Keep checking back, though, and I’ll be sure to let you know once I find a good ETF to recommend.
In the meantime, I suggest following companies that benefit from millennial trends, such as mobile payment services. Because that’s where the big money is going to flow.