“Have you ever got angry or mad that your stock lost a lot of its worth?” Westwood rising sixth-grade student Alex Kiami asks. Most adults can certainly relate to that question, but you might be surprised to learn that many Westwood elementary school students do as well.
Many fifth-graders in Westwood Public Schools take part in a financial literacy program known as The Stock Market Game, along with an optional essay contest called InvestWrite where they write about their investing strategies. Both are sponsored by SIMFA - an educational nonprofit organization dedicated to fostering knowledge of financial literacy. Kiami recently found out that he won first place in the Elementary Division in Massachusetts for the Spring InvestWrite competition for his essay titled, “The Story of My Portfolio.”
“I learned all about bull markets and bear markets and what to invest in long-term and short term,” said Kiami, who wrote the essay during his fifth-grade year at Pine Hill Elementary.
The announcement for the spring contest came later than expected, so several teachers took time during their summer break to surprise Kiami at his home. They were joined by Superintendent of Schools Tim Piwowar in a “Publisher’s Clearinghouse” type event, complete with balloons, a goody bag full of surprises, and a banner. His parents, sister and grandparents were in on the surprise and on-hand to celebrate his achievement.
“We are more than proud,” said father Chadi Kiami. “He put a lot of effort into this and kept researching and asking questions. I’ve never seen him this interested in a field, but more importantly he was tracking [the stock market] daily.”
Westwood Public Schools have taken part in The Stock Market Game for over a decade and have even had several winners on the national level. Piwowar says developing financial literacy skills is critical for young people today.
“We’re always looking for really authentic ways to have kids demonstrate their knowledge and demonstrate their learning,” said Piwowar. “The days of rote book learning are long gone, and we really want to find ways to integrate kids in meaningful experiences so they can grow and thrive and be ready for the world around them.”
Kiami‘s essay detailed how he placed his hypothetical $25,000 investment in a diversified portfolio. His goal was to earn enough money to be able to pay for his own college education. He researched and selected several different stocks including Microsoft. “One reason why Microsoft outperformed other companies was because they are investing and developing artificial intelligence,” Kiami wrote.
Teachers work together with Instructional Technology Coach Mark Goguen to fit this program into the school day. “We designate at least a half hour a week to work on this,” said fifth grade teacher Katie Ennis. “I’ve seen it spark a big interest in kids to learn more about the stock market and investing and how your money can grow in different ways. “And I’ve definitely seen them think more critically about ways they can use their money for good, too.”
Goguen was instrumental in bringing The Stock Market Game to Westwood when he came to the district.
“I think kids should learn about investing at a young age and this program really has the ability to get kids excited,” said Goguen. “When you’re talking about elementary school, you’re talking about the same routine. This opens their eyes to the world. We have highly motivated students in Westwood and they’re thirsty to learn about investing.”
