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Getting Your Financial Education

July 30, 2020

The Principle:

As stores fill up with school supplies, it’s easy to consider what going back to school means. But are you financially educated? Are you equipped to make the right decisions regarding your finances? We discuss on today’s episode.

(Want to jump ahead in the episode? Click the featured times below to skip to a specific section.)

Honest Takes:

It is possible to be highly educated without a strong financial education. Places like Washington D.C. and Raleigh, NC and even Ann Arbor, MI are full of people who are highly educated. But what does it mean to have a financial education?

Some people do a great job saving but don’t know where to invest their money. When the bottom hit with COVID a few months ago, a lot of people got out and then lost all of the gains. Or some contribute to a traditional IRA vs. a Roth IRA and don’t know which is better. Are you working with the right people to guide you and provide the right financial advice?

When you are in a tough spot, it’s hard to know how best to navigate the situation. You might fear being wrong or making a bad decision. Many will come to a financial advisor to talk about their investments, but then it may lead to further questions and ultimately a desire for a comprehensive plan that covers all aspects of your finances.

Whether you have a doctorate degree or a high school diploma, it’s important to understand your own financial situation and work alongside a trusted advisor who can guide you through the right decisions for your financial future.

Listen to the entire episode or click on the timestamps below to hear a specific segment.

[0:16] – Where are the most educated people in America?

[2:03] – What kind of financial education is important to know?

[4:15] – What do accountants do and not do with your finances?

[5:49] – When you’re in crisis, sometimes it’s hard to know what to do.

Today’s Truth:

“Start with, ‘Am I on track for my investments and how much I’m saving’ That gets the basics across and then we can move forward from there.”

Brian Bowen

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Brian Bowen – Contact

Brian Bowen Integrity Financial Planning Roanoke Virginia discusses the deferred payment plan Bobby Bonilla and his agent were able to work out