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The Psychology of Starting: Why One Dollar Changes Everything About Investing

MarketDash Editorial Team
20 hours ago
A former Fed executive explains why millions of Americans stay on the sidelines of investing—and how a single dollar can flip the psychological switch from 'someday' to 'today.'

Here's the trick: one dollar. That's it. Not a complicated options strategy, not a secret Fed formula, not insider knowledge from years working inside America's most powerful financial institutions. Just one dollar, and the willingness to actually invest it.

According to Kristin Kanders, who spent years as director of strategy and innovation at the Federal Reserve Bank of Boston and head of transformation engagement and communications at State Street before joining retail brokerage app Plynk as head of marketing and engagement, the barrier keeping millions of Americans out of the stock market has nothing to do with money. The real obstacle is psychological.

Kanders now leads a team focused on turning big ideas into real-world solutions for investors of all experience levels. And she's convinced that most people who say they'll invest "someday" aren't waiting for a bigger paycheck—they're waiting for permission they'll never give themselves.

The Real Problem With Investing Apps (And It's Not What You Think)

The problem with modern investing apps has nothing to do with features or functionality, Kanders explained in an exclusive interview. The problem runs much deeper. "Access alone doesn't equal empowerment," she said. "I believe the real shift in consumer psychology needs to be from transactional thinking to ownership thinking."

Most retail investors approach the market with the wrong mentality entirely, Kanders pointed out. "Right now, many retail investors see investing as a quick trade or a way to 'play the market,'" she said. "It's no wonder then that the majority of people in the U.S. feel anxious about their personal finances."

Genuine confidence grows when people stop chasing quick trades and instead form a long-range relationship with their financial goals, according to Kanders. She described empowerment as the point where investors feel steady in their decisions because they understand the purpose behind them, not just the mechanics.

The transition requires more than just access to trading platforms. "The change isn't just about giving tools; it's about building confidence so investors believe they can shape outcomes, not just chase them," she said. "In short, having a growth mindset matters. And that's why we provide lots of tools to learn as you go."

Why Starting With One Dollar Actually Works

Starting with one dollar might sound like a gimmick. Kanders insists the psychological impact cannot be overstated. "For many people, it's not the $100 or $1,000 that holds them back from investing," she said. "The psychological weight of 'I'm not ready,' 'I don't know enough,' or 'I'm not the investing type' is often heavier than any dollar amount."

The magic happens when someone makes that first transaction, Kanders explained. "Removing the financial barrier unlocks more than just access, it unlocks a starting point," she said. "When someone invests $1, they become an 'investor.' That shift, even if tiny, rewires self-perception. It creates momentum. It builds confidence. It turns 'someday' into 'today.'"

Plynk launched a feature called Steady Start built around this concept. Users pick a security, start with $1, and each week their investment increases by $1 for 52 weeks, Kanders said. "We're turning 'I'll start investing later' into 'I'm already building something.'"

The approach recognizes something important: the hardest part of investing isn't picking the right stock or timing the market. It's just starting. Once you're in, even with a dollar, you've crossed a psychological threshold that keeps most people stuck in permanent planning mode.

What Happens When The Market Crashes And You've Promised Confidence

The Plynk app's core promise centers on "invest with confidence," not "get rich" or "beat the market." That's a smart choice, because the latter two are impossible to guarantee, while the former is about mindset.

"Our messaging stays authentic because we frame investing as a marathon, not a sprint," Kanders said. "Market downturns are inevitable, so we focus on education and transparency: helping users understand why volatility happens and how long-term strategies historically outperform short-term reactions."

"Confidence isn't about avoiding losses, it's about knowing what to do when they happen," Kanders added. "Instead of promising to beat the market, we give them tools and insights to make informed decisions, even in tough times."

Kanders pointed to simulated trading as one of the platform's core teaching tools. The feature offers a real-market environment where users can practice strategies, build confidence, and learn from outcomes without putting actual money at risk.

Every fintech platform sees users take losses, Kanders acknowledged, and Plynk focuses on helping investors stay mindful of their risk limits. She added that markets move for many reasons and emphasized the value of regularly checking personal risk appetite. "It is important to continually evaluate risk appetite in investments to make sure you're not 'biting off more than you can chew,'" Kanders said.

A Financial Co-Pilot, Not An Autopilot

Kanders addressed whether Plynk intentionally designs for human psychology, nudging people toward better decisions or respecting their autonomy even when users make suboptimal choices.

"The Plynk app provides a self-directed investing experience—so we do not nudge people one way or another," she said. "Instead, our education and tools are designed to help people make the best decisions for themselves. We aim to meet people where they are and empower them to grow."

She compared the app to a financial co-pilot. "Think of the Plynk app as a financial co-pilot: we don't take the wheel, but we give users a better rearview mirror and tools that help users spot their blind spots, map their path, and adjust course," Kanders explained.

The app introduced new features in 2025 that follow this philosophy, Kanders said, including a "what-if" tool that lets users explore virtual portfolios. These scenario-based views help people see how different choices might have played out, reinforcing the long-term benefits of staying invested rather than waiting on the sidelines.

The goal is to help users visualize consequences. "What if they started investing a year ago? What if they skipped the impulse trade?" Kanders said.

The Fintech Marketing Nobody Talks About

When asked what about the fintech industry gets sanitized in marketing, Kanders pulled no punches. "Well, a lot of marketing that I see doesn't look that sanitized. It's sensationalized!" she said. "But we definitely don't do that at Plynk. We stick to the 'underpromise, overdeliver' philosophy."

The often-overlooked factor most fintech companies avoid discussing centers on market complexity. "While we aim to make the process of investing simple, the reality is that markets are messy," Kanders said. "It takes tenacity and confidence to get through downtimes, and we know it's not effortless."

That's refreshingly honest. Most fintech marketing makes investing look like ordering food delivery—tap a few buttons, watch your money grow, done. But markets don't work that way, and pretending they do sets people up for panic the first time things go south.

Democratizing Finance: Buzzword Or Real Goal?

The phrase "democratizing finance" has become nearly universal in fintech marketing. Kanders outlined what the phrase means to Plynk and how the company ensures the concept translates into action rather than empty language.

"The core meaning behind 'democratizing finance' is simple: accessibility," Kanders said. "It's about knocking down the barriers that made investing hard to break into, whether it's because of minimum asset thresholds, the jargon surrounding the industry, or the ability to engage on a mobile device."

Plynk brings this philosophy to life through community-focused outreach, Kanders explained. The team connects with people in the spaces they already spend time in, including finance creators, young women, service members, and veterans at events and conferences. Feedback from these groups informs new app features and directs product decisions, she added.

"Ultimately, democratizing finance means making it possible for more people to participate in the market because we've given them the knowledge and confidence to do so," Kanders said.

Why Military Veterans Became A Core Focus

The military community represents a strategic focus for Plynk. Kanders described the unique financial challenges veterans and service members face that traditional investing apps completely miss.

"We believe in the purpose of what we are doing and feel it is an honorable mission," she said. "We were moved by the challenges military veterans and service members face and felt there was a great fit with the Plynk app being able to be an ally for the community."

Veterans shared strong concerns about financial tools that feel inaccessible or out of step with their needs, Kanders said. These conversations motivated the team to create Plynk Serve: Military, a tailored offering designed in response to complaints about complicated language and hard-to-navigate app interfaces.

The sentiment Kanders hears most frequently from this community reveals a deeper problem. "We hear this often: 'Investing isn't for me,'" she said. "Not because of ability, but because the investing world can feel unwelcoming, full of jargon and assumptions that you already know the playbook. It's easy to feel like an outsider. The Plynk app is for anyone who has ever felt overlooked or intimidated by the world of investing, and a large part of this community fits that demographic."

The move from military service to civilian life often brings unfamiliar financial decisions and less structure than veterans are used to, Kanders explained. This change can feel overwhelming, with most apps offering either rigid paths or too many choices with no clear guidance. She added that Plynk built Plynk Serve: Military to offer a resource that supports this transition in a more practical way.

The TikTok Revolution: 76% Of Gen Z Get Investment Advice From Social Media

Technology is changing not just access to investing, but investor behavior itself. Kanders identified several major trends in how new investors make decisions, manage risk, and seek advice.

"Social media is now a primary source of financial advice for younger investors: 76% of Gen Z turn to TikTok, Instagram, and Reddit for investing tips, compared to just 18% of older investors," she said.

"This creates a fast-paced, community-driven dynamic where [fear of missing out] and viral trends influence risk-taking," Kanders added. "Trading frequency is higher among social-media-driven investors, and speculative assets like crypto and meme stocks dominate."

Artificial intelligence represents the biggest turning point coming to personal finance, according to Kanders. "It makes sense to me that AI is all over the headlines. It has the potential to be a game-changer for helping people manage their finances, either directly or indirectly. We're being brought into a new era of personalization because of AI," she said.

When asked what single skill retail investors should develop before ever investing, Kanders gave an answer that had nothing to do with technical analysis or financial statements.

"Curiosity," she said. "Approaching the market with curiosity, ambition, and caution is what leads to a successful investing journey. When you're genuinely curious, you're more receptive to learning, actively seeking to grow your financial literacy and investing knowledge. This practice of curiosity is often what leads to a stronger sense of confidence when it comes to investing."

That's a good answer. Curiosity means you'll actually want to understand what you're doing instead of just copying what some influencer says worked for them last week.

What 2030 Looks Like From Here

Looking five years into the future, Kanders predicted completely normal investing behaviors that would shock someone from 2020. "In five years' time I think we'll have new ways to 'see' and explore our personal portfolios that feel more natural, intuitive and immersive than today's pie chart world," she said. "Picture more interactive experiences and less finance spreadsheet."

Kanders added that the company had already begun experimenting with what the next chapter of investing could look like. This led to the launch of Plynk Spatial, an initiative aimed at exploring more immersive ways to engage with markets.

For Plynk, success doesn't get measured just in user growth. Kanders detailed how she personally defines success and when she'll know Plynk has accomplished its mission. "True success lies in our ability to make financial confidence accessible to everyone," she said. "If we hit a hundred million users, but none of them feel confident or informed about their money choices, I'd consider that a failure."

That's the right framework. Building a massive user base while leaving people anxious and confused about their money isn't democratizing finance. It's just adding more people to the pile of folks who feel like investing isn't for them.

The one-dollar trick sounds simple because it is. But simple doesn't mean ineffective. The hardest part of investing has always been starting, and if it takes a dollar to flip that psychological switch, that's a dollar well spent.

All investments involve risk, including the possible risk of loss.

Simulated trading is for informational purposes only. Past performance does not guarantee future results; actual performance returns will vary.

The projections or other information generated by the Virtual Portfolio regarding the virtual investment outcomes are hypothetical in nature, do not reflect actual investment results and are not guarantees of future results.

DBS does not provide individualized investment advice or recommendations. All general educational resources that DBS provides are available to help users make educated investment decisions on the mobile app. None of the general education tools or information we provide should be viewed as individualized recommendations to buy, sell, or hold any investment.

The Plynk app is supported by a team of Digital Brokerage Services LLC associates. Brokerage services are offered through the Plynk application only by Digital Brokerage Services LLC. Plynk marks are the property of FMR LLC; third-party marks are the property of their respective owners. 1236494.1.0

Back to News

The Psychology of Starting: Why One Dollar Changes Everything About Investing

MarketDash Editorial Team
20 hours ago
A former Fed executive explains why millions of Americans stay on the sidelines of investing—and how a single dollar can flip the psychological switch from 'someday' to 'today.'

Here's the trick: one dollar. That's it. Not a complicated options strategy, not a secret Fed formula, not insider knowledge from years working inside America's most powerful financial institutions. Just one dollar, and the willingness to actually invest it.

According to Kristin Kanders, who spent years as director of strategy and innovation at the Federal Reserve Bank of Boston and head of transformation engagement and communications at State Street before joining retail brokerage app Plynk as head of marketing and engagement, the barrier keeping millions of Americans out of the stock market has nothing to do with money. The real obstacle is psychological.

Kanders now leads a team focused on turning big ideas into real-world solutions for investors of all experience levels. And she's convinced that most people who say they'll invest "someday" aren't waiting for a bigger paycheck—they're waiting for permission they'll never give themselves.

The Real Problem With Investing Apps (And It's Not What You Think)

The problem with modern investing apps has nothing to do with features or functionality, Kanders explained in an exclusive interview. The problem runs much deeper. "Access alone doesn't equal empowerment," she said. "I believe the real shift in consumer psychology needs to be from transactional thinking to ownership thinking."

Most retail investors approach the market with the wrong mentality entirely, Kanders pointed out. "Right now, many retail investors see investing as a quick trade or a way to 'play the market,'" she said. "It's no wonder then that the majority of people in the U.S. feel anxious about their personal finances."

Genuine confidence grows when people stop chasing quick trades and instead form a long-range relationship with their financial goals, according to Kanders. She described empowerment as the point where investors feel steady in their decisions because they understand the purpose behind them, not just the mechanics.

The transition requires more than just access to trading platforms. "The change isn't just about giving tools; it's about building confidence so investors believe they can shape outcomes, not just chase them," she said. "In short, having a growth mindset matters. And that's why we provide lots of tools to learn as you go."

Why Starting With One Dollar Actually Works

Starting with one dollar might sound like a gimmick. Kanders insists the psychological impact cannot be overstated. "For many people, it's not the $100 or $1,000 that holds them back from investing," she said. "The psychological weight of 'I'm not ready,' 'I don't know enough,' or 'I'm not the investing type' is often heavier than any dollar amount."

The magic happens when someone makes that first transaction, Kanders explained. "Removing the financial barrier unlocks more than just access, it unlocks a starting point," she said. "When someone invests $1, they become an 'investor.' That shift, even if tiny, rewires self-perception. It creates momentum. It builds confidence. It turns 'someday' into 'today.'"

Plynk launched a feature called Steady Start built around this concept. Users pick a security, start with $1, and each week their investment increases by $1 for 52 weeks, Kanders said. "We're turning 'I'll start investing later' into 'I'm already building something.'"

The approach recognizes something important: the hardest part of investing isn't picking the right stock or timing the market. It's just starting. Once you're in, even with a dollar, you've crossed a psychological threshold that keeps most people stuck in permanent planning mode.

What Happens When The Market Crashes And You've Promised Confidence

The Plynk app's core promise centers on "invest with confidence," not "get rich" or "beat the market." That's a smart choice, because the latter two are impossible to guarantee, while the former is about mindset.

"Our messaging stays authentic because we frame investing as a marathon, not a sprint," Kanders said. "Market downturns are inevitable, so we focus on education and transparency: helping users understand why volatility happens and how long-term strategies historically outperform short-term reactions."

"Confidence isn't about avoiding losses, it's about knowing what to do when they happen," Kanders added. "Instead of promising to beat the market, we give them tools and insights to make informed decisions, even in tough times."

Kanders pointed to simulated trading as one of the platform's core teaching tools. The feature offers a real-market environment where users can practice strategies, build confidence, and learn from outcomes without putting actual money at risk.

Every fintech platform sees users take losses, Kanders acknowledged, and Plynk focuses on helping investors stay mindful of their risk limits. She added that markets move for many reasons and emphasized the value of regularly checking personal risk appetite. "It is important to continually evaluate risk appetite in investments to make sure you're not 'biting off more than you can chew,'" Kanders said.

A Financial Co-Pilot, Not An Autopilot

Kanders addressed whether Plynk intentionally designs for human psychology, nudging people toward better decisions or respecting their autonomy even when users make suboptimal choices.

"The Plynk app provides a self-directed investing experience—so we do not nudge people one way or another," she said. "Instead, our education and tools are designed to help people make the best decisions for themselves. We aim to meet people where they are and empower them to grow."

She compared the app to a financial co-pilot. "Think of the Plynk app as a financial co-pilot: we don't take the wheel, but we give users a better rearview mirror and tools that help users spot their blind spots, map their path, and adjust course," Kanders explained.

The app introduced new features in 2025 that follow this philosophy, Kanders said, including a "what-if" tool that lets users explore virtual portfolios. These scenario-based views help people see how different choices might have played out, reinforcing the long-term benefits of staying invested rather than waiting on the sidelines.

The goal is to help users visualize consequences. "What if they started investing a year ago? What if they skipped the impulse trade?" Kanders said.

The Fintech Marketing Nobody Talks About

When asked what about the fintech industry gets sanitized in marketing, Kanders pulled no punches. "Well, a lot of marketing that I see doesn't look that sanitized. It's sensationalized!" she said. "But we definitely don't do that at Plynk. We stick to the 'underpromise, overdeliver' philosophy."

The often-overlooked factor most fintech companies avoid discussing centers on market complexity. "While we aim to make the process of investing simple, the reality is that markets are messy," Kanders said. "It takes tenacity and confidence to get through downtimes, and we know it's not effortless."

That's refreshingly honest. Most fintech marketing makes investing look like ordering food delivery—tap a few buttons, watch your money grow, done. But markets don't work that way, and pretending they do sets people up for panic the first time things go south.

Democratizing Finance: Buzzword Or Real Goal?

The phrase "democratizing finance" has become nearly universal in fintech marketing. Kanders outlined what the phrase means to Plynk and how the company ensures the concept translates into action rather than empty language.

"The core meaning behind 'democratizing finance' is simple: accessibility," Kanders said. "It's about knocking down the barriers that made investing hard to break into, whether it's because of minimum asset thresholds, the jargon surrounding the industry, or the ability to engage on a mobile device."

Plynk brings this philosophy to life through community-focused outreach, Kanders explained. The team connects with people in the spaces they already spend time in, including finance creators, young women, service members, and veterans at events and conferences. Feedback from these groups informs new app features and directs product decisions, she added.

"Ultimately, democratizing finance means making it possible for more people to participate in the market because we've given them the knowledge and confidence to do so," Kanders said.

Why Military Veterans Became A Core Focus

The military community represents a strategic focus for Plynk. Kanders described the unique financial challenges veterans and service members face that traditional investing apps completely miss.

"We believe in the purpose of what we are doing and feel it is an honorable mission," she said. "We were moved by the challenges military veterans and service members face and felt there was a great fit with the Plynk app being able to be an ally for the community."

Veterans shared strong concerns about financial tools that feel inaccessible or out of step with their needs, Kanders said. These conversations motivated the team to create Plynk Serve: Military, a tailored offering designed in response to complaints about complicated language and hard-to-navigate app interfaces.

The sentiment Kanders hears most frequently from this community reveals a deeper problem. "We hear this often: 'Investing isn't for me,'" she said. "Not because of ability, but because the investing world can feel unwelcoming, full of jargon and assumptions that you already know the playbook. It's easy to feel like an outsider. The Plynk app is for anyone who has ever felt overlooked or intimidated by the world of investing, and a large part of this community fits that demographic."

The move from military service to civilian life often brings unfamiliar financial decisions and less structure than veterans are used to, Kanders explained. This change can feel overwhelming, with most apps offering either rigid paths or too many choices with no clear guidance. She added that Plynk built Plynk Serve: Military to offer a resource that supports this transition in a more practical way.

The TikTok Revolution: 76% Of Gen Z Get Investment Advice From Social Media

Technology is changing not just access to investing, but investor behavior itself. Kanders identified several major trends in how new investors make decisions, manage risk, and seek advice.

"Social media is now a primary source of financial advice for younger investors: 76% of Gen Z turn to TikTok, Instagram, and Reddit for investing tips, compared to just 18% of older investors," she said.

"This creates a fast-paced, community-driven dynamic where [fear of missing out] and viral trends influence risk-taking," Kanders added. "Trading frequency is higher among social-media-driven investors, and speculative assets like crypto and meme stocks dominate."

Artificial intelligence represents the biggest turning point coming to personal finance, according to Kanders. "It makes sense to me that AI is all over the headlines. It has the potential to be a game-changer for helping people manage their finances, either directly or indirectly. We're being brought into a new era of personalization because of AI," she said.

When asked what single skill retail investors should develop before ever investing, Kanders gave an answer that had nothing to do with technical analysis or financial statements.

"Curiosity," she said. "Approaching the market with curiosity, ambition, and caution is what leads to a successful investing journey. When you're genuinely curious, you're more receptive to learning, actively seeking to grow your financial literacy and investing knowledge. This practice of curiosity is often what leads to a stronger sense of confidence when it comes to investing."

That's a good answer. Curiosity means you'll actually want to understand what you're doing instead of just copying what some influencer says worked for them last week.

What 2030 Looks Like From Here

Looking five years into the future, Kanders predicted completely normal investing behaviors that would shock someone from 2020. "In five years' time I think we'll have new ways to 'see' and explore our personal portfolios that feel more natural, intuitive and immersive than today's pie chart world," she said. "Picture more interactive experiences and less finance spreadsheet."

Kanders added that the company had already begun experimenting with what the next chapter of investing could look like. This led to the launch of Plynk Spatial, an initiative aimed at exploring more immersive ways to engage with markets.

For Plynk, success doesn't get measured just in user growth. Kanders detailed how she personally defines success and when she'll know Plynk has accomplished its mission. "True success lies in our ability to make financial confidence accessible to everyone," she said. "If we hit a hundred million users, but none of them feel confident or informed about their money choices, I'd consider that a failure."

That's the right framework. Building a massive user base while leaving people anxious and confused about their money isn't democratizing finance. It's just adding more people to the pile of folks who feel like investing isn't for them.

The one-dollar trick sounds simple because it is. But simple doesn't mean ineffective. The hardest part of investing has always been starting, and if it takes a dollar to flip that psychological switch, that's a dollar well spent.

All investments involve risk, including the possible risk of loss.

Simulated trading is for informational purposes only. Past performance does not guarantee future results; actual performance returns will vary.

The projections or other information generated by the Virtual Portfolio regarding the virtual investment outcomes are hypothetical in nature, do not reflect actual investment results and are not guarantees of future results.

DBS does not provide individualized investment advice or recommendations. All general educational resources that DBS provides are available to help users make educated investment decisions on the mobile app. None of the general education tools or information we provide should be viewed as individualized recommendations to buy, sell, or hold any investment.

The Plynk app is supported by a team of Digital Brokerage Services LLC associates. Brokerage services are offered through the Plynk application only by Digital Brokerage Services LLC. Plynk marks are the property of FMR LLC; third-party marks are the property of their respective owners. 1236494.1.0

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