|
Kids do the investing and financial planning at Waddell & Reed's newest office.
The Overland Park-based group has opened a financial planning center for elementary pupils at The Learning Exchange's mock city.
At Exchange City, pupils act out economic life after completing complementary classroom studies and preparations ahead of their visit.
Fouth, fifth- and sixth-graders already operate Exchange City's Union Bank center, broadcast center, newspaper, distribution warehouse, City Hall, public works, health center, cafe, three retailers, a tech shop and a Sprint center.
As many as 230 students at a time earn, spend, borrow, pay taxes, govern, sell, make a payroll, maket products and otherwise run their little city and its economy for a day.
The new Waddell & Reed Planning Center now lets students set savings goals, pick investments and see the results of their planning. Students running the center can act as financial advisers or portfolio analysts to discuss student investors' financial goals.
In the classroom, students learn about money management, the difference between stocks and bonds, the basics of building an investment portfolio and the notion of risk tolerance.
Hank Herrmann, chief executive officer of Waddell & Reed, said the Exchange City center reflects students' increased need to understand money throughout their lives.
"Children are the heart and future of our communities, and education is the key to their development," Herrmann said.
It fits Exchange City's nearly 25-year history.
The experience has steered some students into and away from various careers, said Tracye Laun, chief executive officer of the Learning Center.
"We have some staff members who remember going through it as students," Laun said.
Exchange City also helps kids see differently the world and the people they encounter daily.
"Some of them talked about how stressful it was to be a manager," said Megan Culver, site manager of Exchange City.
The Learning Exchange at 3132 Pennsylvania Ave. is offered to all Kansas City area school districts. Information about the not-for-profit Learning Exchange is available at www.lx.org and by calling (816) 751-4100.
|