Tacoma Students Can Open Roth IRAs Through Futures 253

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  Tacoma Students Can Open Roth IRAs Through Futures 253“Eligible students may open a Roth IRA through the program even if they have not yet reached age 18.”
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  Program helps high school students build financial wellness with Roth IRA accounts and incentives.“Futures 253 is a TPS initiative in partnership with the Tacoma Education Dream Fund (TEDF) and local financial and community organization. It is designed to help students build long-term financial wellness through investing. Students complete a financial literacy and investing module, learn about concepts such as compound growth, retirement savings, and Roth IRAs, and then have the opportunity to open and fund a Roth IRA with earned income from an employer (requiring a W2). Students who complete the program requirements are also eligible for an incentive grant through our partnership with the Tacoma Education Dream Fund.”
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  Tacoma Public Schools has launched the Futures 253 program, which enables high school students to open Roth IRA accounts with earned income and complete financial literacy modules.“Futures 253 is a TPS initiative in partnership with the Tacoma Education Dream Fund (TEDF) and local financial and community organization. It is designed to help students build long-term financial wellness through investing. Students complete a financial literacy and investing module, learn about concepts such as compound growth, retirement savings, and Roth IRAs, and then have the opportunity to open and fund a Roth IRA with earned income from an employer (requiring a W2). Students who complete the program requirements are also eligible for an incentive grant through our partnership with the Tacoma Education Dream Fund.”
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  Students can complete an online financial literacy module, write a reflective essay, and open a Roth IRA account with a $150 initial deposit through partner institutions like TAPCO Credit Union or Wells Fargo.“Students complete a financial literacy and investing module, learn about concepts such as compound growth, retirement savings, and Roth IRAs, and then have the opportunity to open and fund a Roth IRA with earned income from an employer (requiring a W2). Students who complete the program requirements are also eligible for an incentive grant through our partnership with the Tacoma Education Dream Fund. The Futures 253 program is powered by the Beverly Haughton IRA Partnership Fund and includes partnerships with TAPCO Credit Union, and Wells Fargo Bank. The program is also supported and endorsed by the Black Collective, Asia Pacific Cultural Center (APCC), and Tacoma-Pierce County Chamber of Commerce. Currently, Futures 253 is primarily designed as an independent student experience rather than a standalone classroom course. However, there is certainly an opportunity for teachers, counselors, and other adults to support students through the process. The learning modules are online and are most appropriate for secondary students, particularly high school students. Students gain practical knowledge about: Budgeting and saving Investing fundamentals Compound interest and long-term wealth building Retirement planning How Roth IRAs work Step 1: Submit Interest Form Step 2: Complete Financial Learning Module Step 3: Write Reflection Step 4: Open & Fund Your Account Step 5: Submit Proof of Account Once all steps are completed: Complete the Futures 253 Roth IRA Form of Intent Students will receive the EverFi course code and upload links for next steps after submission. Finish the EverFi Financial Investment Online Module using the course code provided and upload the completion certificate. Complete the Futures Roth IRA Short Reflective Essay. Students can open an account with the financial institution of their choice. Futures 253 has partnered with local organizations, if you choose to open an account with a partner, follow the steps outlined to open a Roth IRA account. Instructions for opening an account with TAPCO Credit Union: Where to go: Opening an investment account can be done in-person, at any TAPCO location. No appointment is necessary, walk-ins are welcome. You can expect it to take around 30 minutes. If you need language assistance, please call ahead. Types of accounts: TAPCO offers an IRA savings and 30-month IRA certificate. If you are not a TAPCO member, you will need to open a savings account to establish membership. Savings accounts do not have fees, but a minimum $25 balance is required. While TAPCO's website indicates that individuals must be at least 18 years of age to open an IRA account, TAPCO is making an exception for students participating in the Futures 253 program. Eligible students may open a Roth IRA through the program even if they have not yet reached age 18. Initial deposit: The initial deposit of $150 to open an investment account can be made by cash, debit card, check or transfer from an existing TAPCO account. What to bring: Students should bring a valid government issued identification and their Social Security number. There is no citizenship requirement, but a W 8BEN may be required for non U.S. persons. Parent or guardian are not required to be present. Students are encouraged to think about who will be listed as a beneficiary on their IRA. Their full name is required. Date of birth and address are not required, but are helpful. Questions? All branch employees are familiar with Futures 253, and Senior Member Services Representatives will assist in opening accounts. General questions can be directed to Richard Stirgus, Vice President of Community Relations, [email protected]. Instructions for opening an account with Wells Fargo are”

Futures 253 Investing in my future, today Futures 253 is a TPS initiative in partnership with the Tacoma Education Dream Fund (TEDF) and local financial and community organization. It is designed to help students build long-term financial wellness through investing. Students complete a financial literacy and investing module, learn about concepts such as compound growth, retirement savings, and Roth IRAs, and then have the opportunity to open and fund a Roth IRA with earned income from an employer (requiring a W2). Students who complete the program requirements are also eligible for an incentive grant through our partnership with the Tacoma Education Dream Fund. The Futures 253 program is powered by the Beverly Haughton IRA Partnership Fund and includes partnerships with TAPCO Credit Union, and Wells Fargo Bank. The program is also supported and endorsed by the Black Collective, Asia Pacific Cultural Center (APCC), and Tacoma-Pierce County Chamber of Commerce. Currently, Futures 253 is primarily designed as an independent student experience rather than a standalone classroom course. However, there is certainly an opportunity for teachers, counselors, and other adults to support students through the process. The learning modules are online and are most appropriate for secondary students, particularly high school students. Students gain practical knowledge about: Budgeting and saving Investing fundamentals Compound interest and long-term wealth building Retirement planning How Roth IRAs work Step 1: Submit Interest Form Step 2: Complete Financial Learning Module Step 3: Write Reflection Step 4: Open & Fund Your Account Step 5: Submit Proof of Account Once all steps are completed: Complete the Futures 253 Roth IRA Form of Intent Students will receive the EverFi course code and upload links for next steps after submission. Finish the EverFi Financial Investment Online Module using the course code provided and upload the completion certificate. Complete the Futures Roth IRA Short Reflective Essay. Students can open an account with the financial institution of their choice. Futures 253 has partnered with local organizations, if you choose to open an account with a partner, follow the steps outlined to open a Roth IRA account. Instructions for opening an account with TAPCO Credit Union: Where to go: Opening an investment account can be done in-person, at any TAPCO location. No appointment is necessary, walk-ins are welcome. You can expect it to take around 30 minutes. If you need language assistance, please call ahead. Types of accounts: TAPCO offers an IRA savings and 30-month IRA certificate. If you are not a TAPCO member, you will need to open a savings account to establish membership. Savings accounts do not have fees, but a minimum $25 balance is required. While TAPCO's website indicates that individuals must be at least 18 years of age to open an IRA account, TAPCO is making an exception for students participating in the Futures 253 program. Eligible students may open a Roth IRA through the program even if they have not yet reached age 18. Initial deposit: The initial deposit of $150 to open an investment account can be made by cash, debit card, check or transfer from an existing TAPCO account. What to bring: Students should bring a valid government issued identification and their Social Security number. There is no citizenship requirement, but a W 8BEN may be required for non U.S. persons. Parent or guardian are not required to be present. Students are encouraged to think about who will be listed as a beneficiary on their IRA. Their full name is required. Date of birth and address are not required, but are helpful. Questions? All branch employees are familiar with Futures 253, and Senior Member Services Representatives will assist in opening accounts. General questions can be directed to Richard Stirgus, Vice President of Community Relations, [email protected]. Instructions for opening an account with Wells Fargo are
Source: https://www.tacomaschools.org/departments/cte/futures-253