By: Jasper Smith
As an African-American working in financial services, I am constantly searching for information explaining how African-Americans view wealth, money, investing and financial planning.
Based on my experience and the countless conversations I’ve had with clients and colleagues, I have found that African-American affluence is prevalent in the U.S., but we are heavily underserved by financial institutions in this country. I encounter African-Americans from all walks of life–like recent college graduates who just landed their first job, young families looking to purchase their first home, seasoned corporate executives and people who are gearing up for retirement. No matter where they fall on that continuum, I have noticed one major issue: they have not put together a solid financial game plan.
When are we going to take control of our financial futures? As a financial services professional, I cannot stress enough how important a plan is. It goes back to the old saying “If you fail to plan, you plan to fail.”
Why don’t people plan? For many, it’s because they lack confidence in their ability to fully comprehend financial security. They don’t understand the array of financial vehicles that exist and they don’t know where to go or who to trust for financial advice.
It’s time for us to face our financial challenges head on. It’s time to protect ourselves and our families from financial misfortune by preparing for the unexpected. It’s time to be proactive about financial security. If you’re not confident with doing it yourself, consider working with a financial professional to help develop solutions to cover all of your needs and defend you from all relevant risks.
So what are we waiting for?
Jasper Smith is a Financial Representative of The Northwestern Mutual Life Insurance Company, Milwaukee, WI (Northwestern Mutual). Working out of the Walnut Creek, CA office, Jasper provides, for individuals and small business owners, expert guidance and innovative insurance and investment solutions for a variety of financial needs and goals. For more information on all the services Jasper provides log on to www.nmfn.com/jaspersmith. Securities offered through Northwestern Mutual Investment Services, LLC a subsidiary of Northwestern Mutual.