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A coalition of community-based organizations in Milwaukee have teamed up with EconomicsWisconsin to launch the “Stock Market Game” – a pilot program that teaches youth about investing during the summer break from school.
“In order for us to change the financial inequities for Black youth we must ensure that access to financial education is within their reach,” said Shannon Reed, Director of Innovative Strategies for Boys & Men of Color at United Way. “I truly believe the proverb ‘give a man a fish and you feed him for a day; teach a man to fish and you feed him for a lifetime.’ That’s how legacy is built.”
This year, Asset Builders of America Inc. and United Way of Greater Milwaukee & Waukesha County launched the Collective Impact Initiative for Economic Inclusion (a.k.a. “The Collective”) in order to bring more robust and sustainable financial education to youth of color in Milwaukee.
The “Stock Market Game” Pilot is the first project to be undertaken by The Collective. Seven local youth development agencies or schools – Journey House, Neighborhood House, Milwaukee School of Excellence, Peak Initiative, Neu-Life Community Center, Running Rebels, and Milwaukee Fellows – each sponsor a team of five youth, ages 14-18 years old. The winningest team, defined as the team with the “swaggiest” portfolio, will receive cash prizes or gift certificates.
While “swaggiest” portfolio is defined as the portfolio that grows to the highest value from the $100,000 simulated starting point, all of the participants will acquire “swaggy knowledge” along the way. Dr. Mark Schug, UW-Milwaukee Emeritus Professor and a renowned advocate of economic education, developed a customized series of short video lessons that the participants will view and discuss with their advisors each week.
The competition is already underway and runs from June 15 – August 21, 2020.
“The “Stock Market Game” has a long and successful history as an educational tool within the classroom framework,” Bob Glowacki of EconomicsWisconsin explained. “The significant innovation we are trying here is to see if the game can also be implemented effectively through community-based organizations. If so, this will open up an entirely new and accessible way to bring early education in investing to more youth of color.”
EconomicsWisconsin and The Collective thank the Securities Industry Foundation for hosting this innovative program on their “Stock Market Game” electronic platform.
About Asset Builders of America, Inc.: Asset Builders is a nonprofit organization that has been teaching financial capability and economic empowerment to low and moderate-income youth and families since 1999.
About EconomicsWisconsin: Works to educate every Wisconsin student in economic and free market concepts; understanding the underpinnings of the markets that shape our history, our society and our daily life.
About United Way of Greater Milwaukee & Waukesha County: United Way of Greater Milwaukee & Waukesha County fights for the health, education, and financial stability of every person in our local community.