Jake Littman COLTS NECK — With a great financial plan, Colts Neck High School senior Jake Littman, 17, was named the national winner of the Securities Industry and Financial Market’s Association’s (SIFMA) Invest- Write competition.
Jake was also selected as the New Jersey state winner.
InvestWrite challenges fourth- through 12th-graders to analyze an investment scenario and create a long-term financial plan. The student participants must address realworld economic factors and trends, better preparing for their own financial futures, according to a SIFMAFoundation press release.
Nancy Kahn, representing SIFMA, surprised Jake in his AP Economics class on Feb. 9 at Colts Neck High School. Kahn explained to teacher Lana Inacio’s class that the national winner was in the class. Armed with balloons, a trophy and more prizes, Kahn called Jake up to the front of the room to be recognized for his success.
Jake’s parents, Scott and Denise, along with his brother, Nick, 14, were on hand to celebrate his victory. His older brother Michael, 20, was unable to attend.
Because of the recent rough weather, the Littmans and Inacio had to keep the secret of Jake’s victory for longer than expected. Inacio said she found out about Jake’s success about four weeks prior to the in-class surprise. She said snow days caused the event to be rescheduled several times.
Jake, who is a resident of Marlboro, was asked to prepare a financial plan for a fictitious couple in their mid-20s. In designing the plan, Jake said he was responsible for devising all the details for the couple such as their salaries, expendable income, whether they had children and the pair’s short-term and long-term goals.
Kahn said more than 9,000 essays were submitted to the contest and each one was judged by industry professionals and teachers.
As the winner of the contest, Jake will receive a $100 American Express gift card and a three-day, two-night trip to New York City, including a visit to Wall Street to experience the New York Stock Exchange.
Also included in the prizes was a $50 Barnes & Noble gift card for Inacio, a plaque for Jake’s parents, a trophy to be displayed in Colts Neck High School and a pizza party for hisAP Economics class. The news of a pizza party caused even more cheers from Jake’s peers.
Jake said he spent a lot of time doing research for the competition since it was not just a contest, it was also an important assignment for his class.
His classmates jokingly asked Jake for his financial advice, to which he replied, “buy low, sell high.”
Jake said he was completely surprised by his victory and was excited not just for himself, but also for the recognition for the school.
Scott Littman said the family was very proud of Jake and his hard work. Having his son be the national winner is “pretty amazing” the proud dad said.
Perhaps some of Jake’s financial savvy is in his blood, since his father is a former Wall Street executive and trader.
“He’s a pretty amazing kid. He’s going to make one company very fortunate,” Littman said of his son.
Inacio said she felt like a proud parent, she was so excited to see Jake win.
She described Jake as a well-rounded young man who achieves success in his academics and extracurricular activities. Jake is a student in the Freehold Regional High School District’s Junior ROTC program at Colts Neck.
The budding businessman said that while he has not done any investing yet, he definitely would start in the future.
As a result of Jake’s win, his economics class has been invited to take part in SIFMA’s Capitol Hill Challenge.
Kahn said the program matches students with their local congressional representative. In the case of Colts Neck High School, the students will be paired with Rep. Rush Holt. Kahn said the top three teams — out of a field of 200— will earn a trip to Washington, D.C.