With this month being "Financial Literacy" month, it's only right to focus on that very subject. My guest Johney Johnson, a financial coach, a Licensed Financial Professional, a College Endowment Funding Specialist, and a Financial Fitness Director with FinFit Life, discussed the many ways he helps his clients, preferably in the black community, become both financially independent and financially empowered with the various options he provides. From Life insurance, Roth IRAs, to savings options in order to establish generational wealth for our kids, grandkids, etc.
For many generations, the black community has been far behind the wealth gap and most of that has been the case due to lack of financial knowledge on what it means to save and invest in our future. In the black community, we've been taught and conditioned to always being in survival mode; only being concerned about now and spending irresponsibly with no long term financial goals for ourselves or families. Having an impoverished mindset has widen the wealth gap even more to our disadvantage. Johney spoke about how important it is to have life insurance where oppose to relying on "GoFundMe" accounts as a means of paying for funeral costs, burial arrangements, and other ways to provide for grieving loved ones. This has unfortunately become a common practice in the black community versus having a long term plan to leave to our families when that time comes for us to be buried, which for Johney, hit home for him personally and what helped sparked his interest into choosing this field and profession.
If you would like tips and guidance on how to become more financially independent or help with coming up with the best affordable plan for you to invest in your financial future, you can reach via Instagram @johneykash06 and Facebook @JohneyJohnson. The goal ladies and gentlemen is establish generational wealth for a generation we will not be alive to see and applied knowledge is the key to economic empowerment.
