When I was a boy, I knew a man named James. His childhood was nothing like mine. I grew up in a middle-class home with two parents who worked hard, cared about our education and made sure we had what we needed to succeed.
James wasn’t nearly as fortunate. Raised by a single mother in rural south Arkansas, he lived in deep poverty. He dropped out of school in the eighth grade, worked odd jobs, and when the Great Depression came, he found himself riding boxcars from town to town.
James eventually married Violet, and together they scraped out a modest living raising two sons. One joined the Navy. The other became the first in the family to attend college, a source of great pride. In his later years, James lost his sight. No longer able to drive trucks for a living, he entered retirement with little more than his Social Security and a small union pension.
When I helped James move at nearly 90 years old, everything he owned fit in a small U-Haul. But he had a prized possession: three envelopes, each with savings bonds for his grandchildren. The amount wasn’t particularly large, but the gift it represented — his desire to help his loved ones achieve their dreams — was profound.
James was my grandfather, and one of those envelopes was for me. I can’t say exactly how things would have been different without it, but his gift left an indelible mark on my life. That envelope held two lessons I carry with me to this day.
The first is that capital is a powerful catalyst. The world is filled with dreams of beautiful things and people willing to work hard to make them real. Only when capital is added can many of these hopes become plans and, eventually, reality. The second is that enabling dreams for kids is an incredible gift, including for those who invest in them and get to share in the childlike wonder of imagining tomorrow’s possibilities.
These two lessons are at the heart of GROW, short for Generational Resources and Opportunities for Well-Being, a new program launched at Murrell Taylor Elementary in the Jacksonville North Pulaski School District. GROW connects every child and teacher at the school with a long-term savings account, integrated financial education and a community that believes in their future.
As part of GROW, each Murrell Taylor Elementary student automatically receives a 529 savings account, seeded and supported throughout their K–12 years by Tempus Realty Partners. They earn additional deposits by reaching goals like maintaining good attendance, hitting reading benchmarks or contributing to positive classroom behavior.
Teachers also receive 529 accounts, further fostering a school culture focused on building for the future. A child who begins in kindergarten could graduate from Murrell Taylor Elementary with more than $10,000 in assets and the financial literacy to use it wisely. Thanks to recent legislation, if not used for education, the accumulated funds can roll into a Roth IRA, providing a foundation for beneficiaries to pursue homeownership, entrepreneurship or retirement.
When we launched GROW, we built it as a platform that other communities can use to support their children’s dreams. Andrea Levere, a pioneer in the field of children’s savings accounts, calls it a “model for the 21st century,” and the Impact Center at the Clinton School of Public Service has launched a multi-year study to measure GROW’s results and inform its expansion.
The most important measure of GROW’s success will be the children themselves. We want them to know that their futures are worth investing in and feel confident that the community is behind them. For more than 400 students at Murrell Taylor Elementary, that message is clear: Your dreams matter, and you’re not chasing them alone.
My grandfather’s envelope changed my life. Through GROW, we’re helping ensure that every child has that same opportunity — backed not just by dollars — but by hope, community and the promise of a brighter future.
Editor’s note: Dan Andrews is a CPA, managing partner and CEO of Tempus Realty Partners, a real estate investment partnership. The opinions expressed are those of the author.