They say the best baseball players start in the peewee leagues, and SunAmerica Mutual Funds is betting the best savers start young, too.
To make sure kids acquire financial literacy as well as the three Rs, the New York-based mutual fund company is sponsoring an essay contest for fifth through eighth graders at P.S. 95 in Brooklyn.
Teaming up with the New York Yankees, SunAmerica asked students to answer two questions in their essays. The questions are: "Why is saving for the future important?" and "What could you do today to begin planning for your future?"
Essays will be judged on the student's expressed appreciation for the importance of long-term savings, as well as on creativity and presentation.
The finalists from each grade will be invited to attend a New York Yankees game in mid-June, where the winner in each grade will receive a certificate of excellence and a $250 education award in an on-the-field ceremony.
SunAmerica is a corporate sponsor of the Yankees this year.