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Our Mission

 

Purpose

1417Power’s mission is to empower families to help their children be more successful in life, by providing Life Skills Development, Early Teen Work Experience, Retirement Wealth Building for their teenage family members in a risk free month to month relationship.

1417Power accomplishes this mission by accepting enrollment fees from sponsors. The fee entitles the child to a specific number of employment hours for the following month. 1417Power then employs the child in our on-line program with an hourly pay rate in excess of $26 per hour. This pay rate supports providing a significant contribution to a Roth IRA savings program. A Roth IRA started at age 14 and funded for 6 consecutive months could accumulate over $40,000* tax exempt wealth for the child’s retirement. If it is funded for 5 consecutive years, it could accumulate almost three million tax exempt dollars* for the child’s retirement. Our employment meets all Child Labor Laws and Fair Labor Standards Act requirements. The Savings portion of the pay is directly deposited to their Roth IRA account, at their broker.

Customer Benefits

  • Unique middle school and high school level lessons; such as Money Management, Time Management and Ethics.
  • A unique opportunity to create tax exempt wealth. By utilizing Roth IRA savings, and early age employment, you benefit from extra years of compounded interest and tax exemption.
  • Meaningful employment to build a teenager’s resume for future college and employment applications.
  • Credits from 1417Power’s market survey services net revenue and referrals could offset up to 30% of tuition.
  • The Roth IRA is at a financial institution of your selection.
  • This program can be used to create a multi-generational endowment.

 * 1417Power RECOMMENDS the savings be deposited to a Roth IRA and allowed to compound until retirement. The Tax Exempt wealth accumulated by age 70 (expected retirement age after 2035). The Roth IRA values presented herein are based on an annual average of 9.5%. As examples the Russell 2000 ETF (NYSE: IWM) 15-year average annual return is 7.7%. The 50-year S&P500 index (NYS: SPY) has been 11.5%. The Roth IRA values herein are mathematical calculations; they are not a prediction or forecast. Past performance of a fund or index is not a predictor of future performance.