Urban Youth Financial Education Project

DonateApplications

Investing In The Minority Community & Our Future Generation

The Urban Youth Financial Education Project was created to help build generational wealth in the minority community and advocate financial literacy to our future generation.

Project Objectives

k

Sign Up Over 10,000 Youth With Long-Term Investment Accounts (Cash Management, IRA & Roth IRA)

  • We will make a monetary donation of $50 – $100 to start each invidudual out
  • We will award additional monetary donations to individual’s accounts as a way to encourage future successes. (E.g. doing well in the classroom, accomplishing pre-set goals.)

Help Attribute To Closing The Wealth Gap In The Minority Community

  • The median wealth of Black families ($17,000)—is less than one-tenth that of White families ($171,000). [Source: jec.senate.gov]
  • Less than half (42%) of Black families own their homes, compared to almost three-quarters (73%) of White families. [Source: jec.senate.gov]
  • Black children are three times as likely to live in poverty as White children. [Source: jec.senate.gov]
  • Black men and women on average from age 55-64 each only hold $30,000 in their savings compared to white men’s $100,000 and white women’s $60,000 [Source: jec.senate.gov]

Teach & Advocate Financial Education In Public Schools Across The Valley

  • Financial education isn’t typically taught in K-12 schools. Our goal is to help get financial education added in the cirriculum. 

Why Having An Investment Account Is Important

Investing not only provides long term financial security, but it can also provide a steady source of income. The earlier you start with investing, the more time your money will have to grow. Investing offers higher returns than an average savings account and can help jumpstart a retirement plan, plan ahead for education, prepare to purchase a new home, or be equipped to withstand an emergency. All your capital gains (money grown) in a Roth IRA account would be 100% tax-free if used for retirement, first time home purchase, or college.

Learn About IRA/Roth IRA Accounts Here

Investment Account Vs Savings Account

For this comparison, we will be starting with $100 and adding $100 each month for a total of 30 years and compare the difference.

Investment Account

According to montlyfool.com, the stock market’s average annual return is 10% a year. In 30 years, the total interest earned would be $191,933. The total you would have $227,933. With a Roth IRA account, $191,933 gained would be 100% tax-free!

Savings Account

The average interest earned each year from a savings account is .09%. In the graph above, we used a generous .50% interest earned each year. In 30 years, the total interest earned would be $2848. The total you would have $38,848.

Number Of Youth Investment Accounts Urban AZ Signed Up & Funded

*Updated 06/01/21

Project Sponsors