The Millionaire’s Club started as an offshoot of the Young Investor’s Club. The Young Investor’s Club only focused on the Stock Market game but the Millionaire’s Club incorporates other aspects of finance such as investments and management.
Co-president and senior Colin Repetti invited a speaker from the Maryland Credit Union who was starting Millionaire’s Club in several other schools to speak to the club, and decided to begin a Millionaire’s Club at WJ.
“I [started] it because I have an interest in business, wished to learn more about investing and managing one’s finances and thought it would be a good addition to WJ, since most of the things we are supposed to learn in the club are not taught in school,” said Repetti.
The purpose of the club is to educate students about managing finances, investments and the stock market.
At weekly meetings, members discuss the stock market game, and search for new ways to expand the scope of the club. Additionally, several speakers have visited to teach club members about financial literacy.
“I think it’s important for everybody to know simple thinks about how to manage their money, and this club seeks to do just that,” said Repetti.
Although some classes, such as Micro and Macro Economics provide students with a foundation in finances, there are no required classes that will reinforce financial responsibility in students. The Millionaire’s Club seeks to overcome the lack of financial education. However, the first year for the club has been shaky. Lack of membership combined with the difficulties of organizing activities provided club officers with plenty of challenges. However, Repetti hopes that the foundations laid down this year will be improved upon next year.
“I am extremely confident in the future of this club,” said Repetti. “The two presidents next year, [sophomores] Rachel Allen and Hannah Sachs, are both very dedicated and hard-working and I believe they, along with the rest of the officers, will help lead the club in the direction I’d hoped it would take, and make it a popular, solid part of WJ.”
