Impact

Measurable results, in class and beyond

Independent research shows that students who play The Stock Market Game do better in math and financial knowledge, and their teachers change their own financial habits too.

At a glance

The Foundation in numbers

23M+young people served since 1977

750,000students take part every year

100%of Congress has taken part in the Capitol Hill Challenge

17,000+financial professionals have volunteered

Figures from current SIFMA Foundation program websites; to be confirmed by SIFMA before launch.

By program

Key figure for each program

SMG

The Stock Market Game^™Investing simulation for grades 4–12 and adults 600,000+students every yearDetails → SMGIQ

SMG InvestQuest^™30–40 minute investing challenge, no sign-up 30–40 minto play, no sign-upDetails → IW

InvestWrite^®National essay competition for SMG students 300,000students have submitted essaysDetails → CHC

Capitol Hill Challenge^™Public schools matched with their Members of Congress 8,500+school–Congress matches since 2004Details → IIF

Invest It Forward^®Financial professionals volunteer in classrooms 17,000+volunteers have supported SMG classroomsDetails →

Research

What the research shows

Findings from a randomized study by the American Institutes for Research, a national NAEP analysis and the 2024 parent survey.

+27

points higher in math for students in grades 4–6 who played the game, compared with a control group.

AIR / Learning Point Associates, FINRA-funded study

+62

points higher in investor knowledge for elementary students who played.

AIR / Learning Point Associates

87%

of younger students said the game taught them to be more careful with how they spend money.

AIR / Learning Point Associates

Playing a stock market game was the only activity with a positive, significant link to economics test scores.

NAEP analysis, Walstad & Buckles, University of Nebraska-Lincoln

74%

of K-12 parents would likely switch schools for one that offered financial education.

Wakefield Research for the SIFMA Foundation, 2024

92%

of parents agree it's critical that their children learn to invest.

Wakefield Research for the SIFMA Foundation, 2024

In their words

What teachers and students say

“One thing I like about The Stock Market Game is that it isn't just, 'This is how you do it.' The Teacher Support Center hits on the bigger picture. There are lessons on ethics; there are lessons on the global economy.”

Maura DonnellyTeacher, High School of Economics and Finance, New York

“We have an advantage in being able to apply what we have gained from this game to the outside world and I believe it'll make us better people.”

Ali11th grade, High School of Economics and Finance, New York

“InvestWrite has inspired my students to begin trading on their own once they have made their 18th birthday.”

Keisha RobertsHigh school teacher, Grand Prairie, TX

Reports