The Daily Money: Young investors often lack knowledge needed to protect their money

Good morning, it's Nathan welcoming you to Wednesday.

☄️ Look up at the sky tonight! The best meteor shower of the year is expected to reach its peak over the next few nights.

📈 Many young investors have become enthusiastic about day-trading opportunities and cryptocurrencies since the pandemic began. That could be good if they can begin building wealth. But experts are concerned that young investors will get burned.

Their investing time horizon is often too short and they’re scooping up too many speculative assets, one expert told Jessica Menton in this first story in our new series on young investors.

On to our ... 

💡 INSIGHT OF THE DAY: Research shows that the flood of new investors who entered the market in 2020 have lower levels of investing knowledge than their more experienced counterparts – underscoring the need for wider access to financial literacy. To be a professional trader on Wall Street requires exams and a FINRA license to execute orders for a securities or brokerage firm. Regular people aren’t required to do that if they're day trading for themselves. Check out our new series geared toward young investors.

📰 And here are more stories you won't want to miss:

1. Instagram is taking action to protect users from hate and abuse: But is the new Limits feature enough to make a difference?

2. Flood and fire risks for American homes are far greater than the government is letting on, according to experts.

3. Another chicken recall has been issued: This one involves 60,000 pounds of meat suspected of possible salmonella contamination.

4. Thinking about doing a home renovation project? Here are five ways to pay for it.

5. Is that home worth getting into a bidding war? Here are three cases when it might be.

6. What happens when you mix Mountain Dew with alcohol? Well, this.

🥤 It's probably good I gave up soda a couple of years ago.

--@NathanBomey