Finance Camp, a unique investment mentorship program for teenagers founded by investment expert Ron Speaker, will be held from June 10th to June 14th at Tacow, 400 Robinson Street, Basalt. I'm planning on doing it. The camp aims to significantly expand its reach from 12 participants in 2021 to more than 100 students this year.
Applications for the next session are due by April 15th and will offer a week-long immersive educational experience. After the application process, students will be interviewed from April 15th to May 31st to select camp participants.
The initiative aims not only to educate but also to engage participants in community service projects, and provides participants with $500 in initial investment funds. This is an increase from her original $250 that she set when she started Finance Camp. If a student exceeds her $1,250 threshold, the speaker adds an additional $750.
This camp focuses on hands-on, interactive learning through the use of computers, specialized software, and trading platforms that are generally not accessible to teenagers. The student who is able to grow their account the most will be awarded her $5,000 by the speaker herself. Last year's winner was Aspen High School student Emma Jane Mallory, who beat out second place by nine dollars.
“We had a summer camp, but it was 12 days, five days and eight hours a day. And I just wanted to reach out to a larger area,” said the chairman, who said he wanted to expand the camp's impact. He spoke while looking back on his aspirations. “We want to give these students an early start so they can grow financially.”
Last year's camp saw a blend of education and real-world applications, including a financial fair that featured speakers on topics such as compound interest.
“There were 100 children and 40 parents in the room…It turned out to be a mini-finance fair,” the chairman said, highlighting the camp's involvement with the community. “We put coupons under every chair, and if a student wants to open an account with Charles Schwab by the end of the year, he will give them $250 to fund that account. ”
Despite widespread invitations, only 22 of the 100 students opened accounts with Charles Schwab and received $250 in funding. This is a partnership facilitated by the Chair to support student investment activities. This year, the selected student will also be required to complete her 25 hours of community service and open her Schwab account to participate.
“On the first day of camp, when they show up…we wire $500 into each account,” the speaker explained, highlighting the program's commitment to providing a hands-on financial experience. “We want to help these students begin the process of building their education and background on what investing is, what the different options are, and how to trade.”
Speakers also noted the intense involvement of the community and friends in supporting students' financial education efforts and shared exciting results from the program.
“The main message to the camp is to invest in companies you already know and are involved with,” the chairman said. “It’s important that we can hold events like this and continue to encourage young students to grow their bank accounts at a young age.”
To learn more and apply for Finance Camp, visit thefinancecamp.com..
