1417Power is an online provider of education and employment for US citizens age 14 plus. The primary purpose of 1417Power is to provide employment for 14+ year olds that will allow them to make substantial (up to the maximum allowed by US law) contributions to their Roth IRA. With the prospect that Social Security will be declining as a percentage of retirement income1, individuals currently in their teenage years can expect that they will be individually responsible for a much greater share of their retirement financial needs. Successfully meeting the transition from Social Security to Self Security can be achieved by early funding of a Roth IRA.
1417Power and 1417Pulse are divisions of 1417LLC a Tennessee Limited Liability Corporation headquartered in Brentwood, TN. The company was founded in January 20122. 1417Power operates web servers located at Telx3 Miami collocation internet intersect point, to provide its services nationwide. Employees work from their home using their own computers and their Internet connections. The company offers e-learning programs in Money Management, Time Management, Reading and Comprehension, and Ethics focused on the 14 to 17 year old demographic. Enrolled students are provided employment performing services such as: market survey, opinion research, and advertising assessment. These services are marketed to corporate clients that desire market research that is focused on the 14 to 17 age group demographic by 1417Pulse.
Student Employees are paid wages that qualify them to contribute to their own individual Roth IRA. The suggestion to utilize a Roth IRA as a tax exempt vehicle for building wealth was discussed in Forbes Magazine4, and 1417Power is presented as a solution5. 1417 operates as a virtual company with all employees working from their respective home locations. This eliminates the time and expense of commuting, and the impact of a corporate office.
The wealth building is greatly enhanced because the Roth IRA utilizes the principles of compounded Interest and the tax exemption for all future earnings and withdrawals6.
1417Power is not a financial services institution.1417Power Clients have their Roth IRA with brokerage firms such as: E*Trade7, Scottrade8, TD AmeriTrade9, and others, these firms accept starter Roth IRA accounts with no minimum and payroll deduction direct deposits.