Recent weeks activities have included: Peaceful protest, Violence, Looting, Property Destruction, Lynching of statues (I don’t get that one) a Black Lives Matter, so called leader, stated “If we do not get the changes we demand, we will burn this government down”, and the popular Defund the Police.  So far, every action has resulted in ZERO change and I expect that to be the case this time next year.

 

One action that will close the gap – EDUCATION/FINANCIAL LITERACY

FINANCIAL LITERACY IS MASTERING INVESTMENTS AND WEALTH BUILDING TOOLS

• The Importance of Credit Scores;
• Elimination of “Bad” Debt;
• Budgeting;
• Investing;
• Savings;
• Homeownership
• Real Estate Investments;
• Insurance Requirements;
• Retirement Plans;
• Tax Consequences and Planning;
• Social Security;
• Estate Planning;
• ETC.

Start with the subject(s)/tools you  need and build YOUR foundation of financial know-how. Life is about continuously learning and growing. 

EDUCATION IS THE EQUALIZER

African Americans’ knowledge of saving and investing significantly lags behind Whites. Often, those who need personal finance education the most, students attending our worse performing schools, have the least access in school and home.

Majority of us learn financial literacy as adults.  Many times, through trial and errors.  Today, there are numerous FREE resources to improve your financial literacy.  Books and magazines for those like me, who prefer to read.  Financial: Websites, TV shows, Blogs, Podcast, YouTube Channels, Etc.  Find the best sources you can learn from.

 

RESOURCES TO BUILD FINANCIAL LITERACY

RESOURCES	OFFERINGS	WEB SITE
General Personal Finance	Free online games and activities on topics such as budgeting, investing and paying for college, as well as free lesson plans on subjects like budgeting, saving and managing credit.	https://www.ngpf.org
Consumer Financial Protection Bureau’s Money as You Grow	Age-appropriate resources for children	https://www.consumerfinance.gov/consumer-tools/money-as-you-grow/bookshelf/
Khan Academy	You name it Khan Academy has a free course including: Budgeting, Investments, Stocks, Bonds, Buying a Home, Etc.	https://www.khanacademy.org
The National Endowment for Financial Education	Financial education for people of all ages, including free online courses, learning activities, etc.	https://www.smartaboutmoney.org/About
Council for Economic Education (CEE)	CEE is geared toward helping K–12 students learn about economics and personal finance. The organization provides resources and training to educators, with two-thirds in low- to moderate-income schools.	https://www.councilforeconed.org
My Money.Gov	Dedicated to teaching the basics about financial education. You can find advice on subjects like buying a home, balancing a checkbook, or investing in a 401(k).	https://www.mymoney.gov/Pages/default.aspx
Napkin Finance	Most people struggle to learn about money and finance. Napkin Finance explains complex financial decision on a single napkin.  Very good tool I have utilized.  {See Below Example Explaining a ROTH IRA)	https://napkinfinance.com
Wealth Building Powers Blog	Achieving YOUR SUSTAINABLE FUTURE. You have the power to secure your wealth. You will overcome fear and all other obstacles, and you will define what amount of money you need to secure your future. I will use my decades of knowledge and lessons learned (both successes and failures) from my own journey to help you!   Are you ready for your WEALTH BUILDING POWERS? No more excuses. TODAY WE START!	https://wealthbuildingpowers.com
CNBC Television	The network primarily carries business day coverage of U.S. and international financial markets.	https://www.cnbc.com
Fox Business News	American television business news channel.	https://www.foxbusiness.com
Bloomberg Business News	Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.	https://www.bloomberg.com/live/schedule-shows/us

 

NEWSPAPERS AND MAGAZINES

• USA Today – Easy to read financial section
• WALL STREET JOURNAL –  Provides insight into the domestic and global world of finance and business
• Investor’s Business Daily** – Investments in Stocks, Bonds and Options
• Magazines: Barron’s, Fortune,** Forbes, Money,** Business Week,** Etc.

** I Subscribe to these publications

COMMUNITY COLLEGES

Take classes on financial literacy subjects at your local Community College for low cost. Many of these courses are also offered an online.

 

 

CONCLUSION

I still remember the day Mom and I opened my first savings account, when I was five years old.  {What took her so long!}  That simple act taught me so much about money, savings, interest, etc. I learned it is my personal responsibility to boost my financial literacy and achieve my dreams.  I tried to give my daughter a head start learning many of the subjects discussed above, at an early age.  Just as we owe our children an education, we owe teavhing them financial literacy, so they can achieve their dreams!

Starting to learn about money management when young is key to improving financial literacy as an adult.  Get started today. 

 

Today, our country is more divided than ever.  I still believe what my parents instilled in me. Mom and Dad taught and more importantly modeled, with hard work and prayer we can achieve our dreams.  Through education and FINANCIAL LITERACY, every hard working, intelligent American, regardless of race or sex can achieve that American dream.

My objectives are simple.  Work hard. Pursue my goals with dedication.  Build and implement a strategy.

WHAT ARE YOU WAITING FOR?  GO, GO NOW!

Wealth Building Powers Blog, is a great resource to increase your financial literacy and net worth.  Of course, I am NOT biased! 

RECOMMENDED  BLOGS:

FINANCIAL LITERACY IS JUST NOT THAT COMPLICATED – TRUST ME!

https://wealthbuildingpowers.com/2019/04/01/financial-literacy-is-just-not-that-complicated-trust-me/

ALL THE REASONS YOUR FINANCIAL WELL BEING IS TERRIFYING!  TIME TO FOX IT! 

https://wealthbuildingpowers.com/2019/04/08/all-the-reasons-your-financial-well-being-is-terrifying-time-to-fix-it%ef%bb%bf/

 

One of my favorite singers, expresses his beliefs about America (click below).

NEIL DIAMOND’S AMERICA

https://youtu.be/RrgCxSSwBto

 

 

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Thank you to my followers and readers, for your likes and comments.  All comments, recommendations and feedback are welcomed and utilized to improve this blog.

 

ABOUT ME

I am a proud nerd (as my beautiful wife and daughter have told me) investment and finance blogger, with a NC State, Chemical Engineering, University Rutgers, MBA and Harvard University, Advanced Management education.

I left a corporate career because I had a desire for making a difference as a speaker and writer, to help others. I was blessed to be coached and mentored by strong women and men in both my family and professional life.  It is my time to serve and give back.

DISCLAIMER

I started my first business at ~13 years of age (small but brilliantly created plant nursery). I am a successful investor in stocks, options, real estate and happy to share my personal finance and investment lessons learned with you.

However, I am NOT a licensed financial advisor.  Please do not construe my suggestions on this blog, as recommendations for your personal situation.  For individual finance advice please seek your own licensed CPA or fiduciary financial advisors.  

I write this weekly blog to make an impact by reaching an audience and demonstrating the need for financial literacy. I will help you get there.