Invitation to Participate in the Financial Gardening Project
What Is The Financial Gardening Project?
The Financial Gardening Project is a unique opportunity for young adults to learn about saving and investing money for the future, starting with a gift of cash to kickstart your retirement savings.
How It Works
- 1. Initial Gift: You receive from Earl Kelly $100 in cash in a card explaining the project.
- 2. Setting Up a Retirement Account: If you choose to participate, Earl will work with you to set up a Roth IRA retirement account in your name and will add another $100, bringing your total to $200.
- 3. Investing Together: You will then work with Earl to invest your money in two different ETF or mutual fund holdings.
How You Can Earn More
- Birthday Gifts: You get an additional $100 to invest on your birthday each year.
- Good Grades: If you take college or trade school classes, you can earn extra money by making good grades: $1,000 for every A and $500 for every B.
Ongoing Support
- Regular Contributions: You are responsible for contacting Earl on your birthday and after each grading period to get the additional monetary gifts added to your retirement account.
- Ongoing Investment: Whenever you receive gifts, you will work with Earl to invest them appropriately.
- End Date: This program is designed to give you a head start in planning for your financial future. It will end when you turn 26, with the hope that you will continue to invest in your future independently after that.
Why Participate in This Project?
- Learn Financial Skills: Gain valuable knowledge about managing and investing money.
- Reward Academic Success: Get financial rewards for doing well in your studies.
More Important Details
- Endowment Fund: The project is funded through an endowment, and the number of participants depends on how well the endowment performs each year.
- Annual Limit: Each participant can receive up to $2,100 per year.
- Eligibility: To participate, you must have finished high school and be at least 18 years old. Participation ends on your 26th birthday.
- Grade Requirements: Only substantial courses with tests at the end qualify for grade-based gifts.
The project may change or end at any time based on Earl Kelly’s discretion.