LOS ANGELES, CA / ACCESSWIRE / September 19, 2024 / Gifted Savings, an innovative nonprofit in the direct giving space, is thrilled to announce the launch of its inaugural high school investment gifting program at Westbrook Academy, a Los Angeles County Office of Education (LACOE) authorized school, in collaboration with the ASU Learning Transformation Studios. Starting today and underwritten by the generosity of an anonymous donor, every senior at the high school will receive an investment portfolio valued at $1,000 in an online account, offering them a unique and practical introduction to saving and investing. Students will be invited to track the value of their gifted investment portfolio throughout the school year. After the school year and once they turn 18, students will be given complete control over their entire portfolio to do with as they please, no strings attached.
Gifted Savings Executive Director Josh Landay introduces 12th-grade students at Westbrook Academy to the transformative Gifted Savings program. (Photo Credit: Jahanshah Ardalan)
Gifted Savings aims to prove that the direct gifting of investment assets is the most simple, efficient, and rewarding way to inspire hope and empower individuals to create their own opportunities, while promoting a widespread spirit of generosity and shared prosperity. In this pilot, the donor has chosen to gift students portfolios composed of $500 in the Vanguard Growth ETF, which includes 190 stocks, including Apple, Nvidia, Netflix, Amazon, and Tesla, along with $500 in Bitcoin.
The Gifted Savings program is facilitated through a custom-built web app, which allows students to track their gifted investment portfolios while delivering bite-sized, interactive lessons on investing education. As students progress through the program, they will document their journey by sharing short video testimonials, offering insights into their personal growth and the impact of their new financial knowledge. The goal is to help students experience generosity and see the long-term power of saving and holding investments while sharing their learning with their peers and communities.
"Gifted Savings is about more than just giving students money - it's about empowering generosity while giving young people skin in the game of saving and holding investment assets," said Farhad Mohit, founder of Gifted Savings. "We're out to prove that when young people are given a chance of owning investment assets, they'll naturally pursue financial literacy and be better prepared to make choices about opportunities they find."
Josh Landay, Executive Director at Gifted Savings, adds, "And for donors, we want to show that the direct giving of investment assets can be the most simple, empowering and rewarding way to help people create a positive impact for themselves and our collective future."
Students already are dreaming of how they'll make the most impact with their Gifted Savings. "I would use it towards saving for college in the future," one student said, "and also possibly investing my own [money] in addition to the $1,000."
Principal Zeidy Revolorio of Westbrook Academy expressed her enthusiasm for the program. "Gifted Savings is giving our students a unique opportunity to gain practical experience owning real investments," Revolorio said. "We're excited to see how this will fuel their interest in financial literacy and help them to develop a solid foundation in managing their own finances so that they can realize their dreams."
The program, launching on Sept. 19, 2024, will run throughout the academic year. Gifted Savings is committed to scaling this transformative initiative by empowering donors to extend the reach of their generosity to schools nationwide, amplifying the impact of financial empowerment to countless more students.
About Gifted Savings: Gifted Savings' mission is to make the direct gifting of investment assets simple and rewarding, empowering people to create their own opportunities. By providing students with gifted investment assets and free educational resources, Gifted Savings enables them to take charge of their financial futures. The program is designed for widespread impact, partnering with donors who believe in the power of infectious generosity through direct giving. By leveraging technology, Gifted Savings aims to reach students nationwide and prove that giving people freedom and responsibility is the best way to invest in our shared future.
Contact Information
Josh Landay
Executive Director
[email protected]
SOURCE: Gifted Savings
View the original press release on newswire.com.