Summer Program Application
Introduction
1417Power offers a summer intern program for teenagers ages 14 through 17. With teenage unemployment exceeding 78% it is almost impossible for teenagers to gain work experience. 1417Power solves this problem with a special summer program that allows parents to enroll their 14 - 17 year-old in our life skills experience program. All 1417Power students are hired to work from their homes using their tablet or PC to preform assigned tasks in Ethics (we need ethical employees) Reading and Comprehension (we need to know their skill level) and to completing Market Surveys (reporting only their own answers).
Purpose
The purpose of the 1417Power program is to teach life skills, provide work experience and employ the student at a high pay rate to facilitate making a contribution to a Roth IRA. Many people are concerned that their children will have a difficult financial future because pensions no longer exist, Social Security is at risk, and real wages for new college graduates are very low (US Department of Labor reports over 50% of college graduates earn under $40,000 in their 5th year after college graduation). Starting a Roth IRA at age 14 means the account has 56 years to compound TAX EXEMPT before their retirement.
In addition to the financial benefits enrollees learn life skills, gain work experience, and will receive a letter of introduction and employment verification and if earned, a recommendation letter useful for college and employment applications.
Overview
Once enrolled Summer Program Student Employees are assigned a private login to the 1417Power Student Employee website. Student Employees use their own tablet, lap top or PC to login.
A log in session is limited to 1 hour with a maximum of two logins in a day. If school in not in session, work is available any time between 7:00 AM and 9:00 PM 7 days per week.
The first session starts with orientation, training and ethics video sessions (30 minutes - self paced so they can replay the videos)
After completing the above they are assigned Reading and Comprehension tasks. We require the student to take several units and we time their reading speed and score their answer accuracy. When we have good benchmarks the student is assigned surveys.
They answer survey question with ONLY their own responses.
If we find that survey speed and or quality is not acceptable they are required to re-take orientation, training, ethics and several Reading and Comprehension units before they resume survey taking.
At the end of each session the Student Employee is required to schedule their next session.
Student Employees are graded on their schedule punctuality.
In addition to the life skills and job training the Student Employees receive a gross pay of $29 per hour. From this taxes are deducted and the net pay is paid as take home pay and savings deposit. We highly recommend this savings be a Roth IRA. Additionally, Student employees receive a letter of introduction, and employment verification suited for college and future employment applications.
The Table below summaries examples of the 1417Power Summer Intern Program options with the future Roth IRA value for a Student Employee currenlty 14-year-old:
Enrollment Fee |
Total Work Hours* |
Gross Pay |
Payroll Tax** |
Take Home Pay |
Savings Deposit |
Roth IRA value at age 70*** |
|---|---|---|---|---|---|---|
$400.00 |
8 |
$232.00 |
$17.75 |
$40.00 |
$174.25 |
$21,730.10 |
$600.00 |
12 |
$348.00 |
$26.62 |
$60.00 |
$261.38 |
$32,595.14 |
$950.00 |
19 |
$551.00 |
$42.15 |
$95.00 |
$413.85 |
$51,608.98 |
$1,500.00 |
30 |
$870.00 |
$66.56 |
$150.00 |
$653.45 |
$81,487.86 |
$1,995.00 |
40 |
$1,160.00 |
$88.74 |
$200.00 |
$871.26 |
$108,650.48 |
* Total work hours can be completed in one to four weeks. Work assignments are completed from your home using your Internet access and your tablet or computer. All work times and assignments are in compliance with Federal and State Child Labor laws. Work assignments include, life skills training, and completing market survey questionnaires. This is a job, and typical job performance requirements apply. You get valuable work experience.
** Payroll Taxes are based on Medicare and Social Security Tax, in some cases income withholding tax may apply. If this is the only income the income tax withheld it may be refunded when you file taxes.
*** 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) presented in the table is based on an annual average of 9%. As examples the Russell 2000 ETF (NYSE: IWM) 15-year average annual return is 7.667%. The 50-year S&P500 index (NYS: SPY) has been 11.5%. The value in the above table is a mathematical calculation; it is not a prediction or forecast. Past performance of a fund or index is not a predictor of future performance. Roth IRA savings are exempt for FAFSA reporting. The Roth IRA account is at the brokerage of your selection. 1417Power uses PayChex to process pay with direct deposit.
Program |
Cost |
Location |
Reading skills program |
Like Skills & Work Experience |
Take Home Pay |
Wealth Creation |
Letter of Introduction and Employment Verification |
|---|---|---|---|---|---|---|---|
Learning Lab Summer Reading |
$50 to $59 Per Hour |
At Learning Lab |
Yes |
No |
No |
No |
No |
1417Power Summer Program |
$50 per Hour |
At Home |
Yes |
Yes |
$5 per hour |
$21.78 per hour |
Yes |
Cheley Colorado Camp |
26 Days $5,500 |
Camp is in Colorado: You must accompany to /from |
No |
No |
No |
No |
No |
Local NFL Player’s Summer Football Camp |
5 Days |
Drop of at Camp at 8:30 AM pick-up at 5:30 PM |
No |
No |
No |
No |
No |
Do Nothing |
0 |
Some Place Unknown to You |
No |
Not The Kind You Want |
No |
No |
No |