Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTMike CrisolagoSat, June 20, 2026 at 2:30 PM GMT+2 5 min readA new Boston financial study is giving a select group of young local workers the opportunity to shout: “Show me the money!”The study, led by the city-sponsored Bank on Boston initiative — along with partners at Northeastern University and Harvard Business School, among others — is giving 15 lucky members of a summer youth employment program up to $1,000 to invest in a Roth IRA (1).Must ReadRobert Kiyosaki says this 1 asset will surge 400% in a year and begs investors not to miss this ‘explosion’Millionaires under 43 hold only 25% of their wealth in stocks. Surprised? Here’s where their money is actually goingJeff Bezos backs a platform that lets anyone invest in rental homes for as little as $100 — here are 5 ways to build wealth like a landlord without actually being oneThe experiment will follow the grant recipients, aged 18 and older, with monthly updates on their investment progress and other ways it has inspired their financial behavior, according to a local NBC 10 Boston report (2).It was inspired by longtime Wall Street Journal financial writer Jonathan Clements, who was diagnosed with a terminal illness in 2024 and donated funds to help create an initiative to educate young people — especially those from low-income families — about money (1).“Jonathan Clements had a very specific vision to make saving and investing accessible to all young people, not just those from middle- and upper-class backgrounds,” Alicia Modestino, Director of the Dukakis Center for Urban and Regional Policy and part of the team involved in launching this study, told Moneywise. “This program specifically targets low-income young adults who are ten times less likely to open a Roth IRA account compared to their more affluent peers.”She added that the initiative is “a powerful tool that can help young people from low-income families start saving earlier and help close the wealth gap down the road when it comes time for retirement.” She also noted that those involved can withdraw contributions for a first-time home purchase, higher education or medical expenses without penalty.The importance of teaching money lessons earlyFor the young people receiving the Roth IRA grants, the savings benefits are numerous. The first, and perhaps most obvious, is the ability to take advantage of compound interest, while high contribution limits allow them to invest more of their part-time or summer earnings (3).As well, several studies illustrate the benefits of providing financial education to young people.One 2019 study led by Modestino, followed two groups of young people aged 18 to 24 years old — with one group receiving financial coaching and services while the other group received no help (4).Terms and Privacy PolicyEU DSA contactPrivacy & Cookie SettingsMore Info