Retired stockbroker teaching Oakland students financial literacy

By Sharon Chin

A retired stockbroker is giving some elementary school students in Oakland a foundation in finance to break the cycle of poverty.

“They’re getting a foundation, a foundation and exposure for finance,” Val Chapman said.

The retired stockbroker wanted to help break the cycle of poverty among at-risk children. So, she founded Financial Literacy for Kid$ in 2020. 

“They’re learning about managing their own money, saving for college, building their own businesses, and they’re having fun at it,” said Chapman,

She teaches four classes a week at Franklin Elementary School in Oakland. Fourth and fifth-graders like Maurice Young manage their own simulated portfolios and share their moneymakers.

“Trump Media,” said the fifth grader. “‘Because he’s going up $2.”

They’re also learning diversification. And, like fifth grader Praise Tamang, the right time to buy.

“I like to buy them while they’re down,” Tamang said. “I’ve made $200 in equity so far.”

Student Anuhea Lopez understands that if she starts young, she can grow a nice nest egg.

“You could have more money and live a better life,” said the 5th grader.

Teacher Benita Yeager said Chapman’s lessons are turning a profit in student learning.

“They’re broadening their horizons, and expanding their minds, and they really love it, which is the best part of it all,” Yeager said.

It’s evident Chapman loves it too.

“You can see the joy,” Yeager said. “This is her passion. This is what she wants to do.”

On this day, students pitched new product ideas to a guest speaker from ELF Beauty in Oakland. It’s the entrepreneurial arm of Financial Literacy for Kid$.

Students build their own startups and compete in Tiger Tank, their school’s version of Shark Tank. They pitch their products like homemade soap and jewelry.

“We have students who’ve hired other classmates to work with them. And they’re earning 30 to 40 dollars a week,” Chapman said. “That’s pretty impressive, and that also helps them build their math skills and research skills.

Some of the students have won regional prizes in the National Stock Market Game, where they manage a hypothetical $100,000 portfolio.

Financial Literacy for Kid$ is fiscally sponsored by the Oakland Public Education Fund. Chapman is seeking more corporate partnerships and grants, so she can bring the literacy lessons to all of the 4th and 5th graders in Oakland’s public schools.

She also teaches a weeklong tuition-based summer program on financial literacy. Chapman is seeing early returns on her investment, students are opening savings accounts, and there’s a ripple effect at home.

“Not only are students learning more about investing, but they’re also talking to their parents and families about saving and investing as well,” Chapman beamed.

So, for opening doors of economic opportunity through Financial Literacy for Kid$, this week’s CBS News Bay Area Icon Award goes to Val Chapman.