Courtesy/Ron Speaker
The world of finance can feel inaccessible and confusing, but Ron Speaker is working to change that for the next generation.
Speaker, a Carbondale-based finance expert, is hosting his third annual Youth Finance Camp from June 9-15. The weeklong program will bring together 12 to 15 high school students from across Western Colorado for an intensive, hands-on introduction to personal finance, investing, and financial literacy.
“You’ve got to know money,” Speaker said. “You have to know it, and the schools aren’t teaching investing. There are some good programs out there, but this was my best way of providing a solution.”
Funded and directed by Speaker, the camp is free for students ages 14 to 17, who are selected through a competitive application process open until April 15. Applicants must also complete 25 hours of community service before attending.
“The goal is to just get the kids in the game,” Speaker said. “If we can help kids start thinking about retirement accounts this early, they can find their way to financial freedom. It doesn’t take that much money, but it takes time. I’m trying to get them on an early start.”
Camp runs from 9 a.m. to 4 p.m. each day at Speaker’s finance studio in Carbondale. Students will explore topics such as the history of money, investing fundamentals, cryptocurrency, and long-term wealth-building strategies. Lessons incorporate multimedia, college-level content, and even clips from movies like “The Big Short” and “Wall Street” to make the material more engaging.
“I try to open up the window and say, ‘Here’s this big world of finance and it has so many different players,’” Speaker said. “From bankers to investment advisors to Wall Street traders. I use technology to help me tell the story of finance.”
Every student who completes the community service requirement receives a $500 seed investment, funded by Speaker, to begin trading in a Charles Schwab custodial account. At the end of the week, whoever passes the final exam with a score of 75% or higher will receive an additional $750 toward their custodial investment accounts.
“They are required to have a custodial investment account at Schwab,” Speaker said. “If they’ve done their community service, then I wire $500 into all the accounts the next day.”
The program emphasizes long-term investing but doesn’t shy away from real-world trading. Speaker, who has a partnership with Schwab, monitors the accounts to ensure students stay on track. The student with the highest portfolio value by Dec. 31 will win the camp’s $7,500 grand prize, complete with an oversized check.
“Part of the lesson is how to engage with the financial institution,” Speaker said. “I’m trying to encourage a long-term investment mindset, but sometimes the kids just want to gamble. At this very moment, the stock market is in turmoil. It could be a wonderful time to make a long-term purchase. But I also teach them how to actually buy — and I want them to actually sell.”
In addition to learning about stocks and investments, students receive training in etiquette, which Speaker believes is a key part of professional success. He uses lunch breaks as opportunities to sneak in a lesson on manners.
“There are no ‘manners classes’ here in the valley,” he said. “It’s wonderful because the kids really take to it. It isn’t about pointing out their faults, it’s about supplying a healthy learning environment. We cover everything from what to wear in interviews to how to hold forks.”
Applications remain open through April 15. For more information, visit thefinancecamp.com.
