News
Financial coach highlighting the importance of financial literacy
CHARLOTTE, North Carolina – A new report of Wells Fargo says money continues to be a difficult issue for many families.
What do you need to know
- Data Shows Many Americans Are Uncomfortable Talking About Money
- Financial experts are encouraging conversations about money during Financial Literacy Month
- A certified financial education instructor says people should take financial education seriously
Data shows that 82% of Americans consider money a private topic, with nearly two-thirds of respondents expressing reluctance to discuss money in general.
As part of Financial Literacy Month, financial experts are encouraging conversations about spending habits so that people can make good decisions with their money.
Rev. Tony R. Jackson is a certified financial literacy instructor and ordained minister.
He found The Real Money Coach LLC, a company that provides financial coaching and educational services to families and businesses around the world.
Jackson has received numerous accolades for his service, including a national award for Club of Champions and Entrepreneur of the Year.
Through radio appearances and weekly podcasts, Jackson has helped people make smarter financial decisions.
“What I’ve been doing for 25 years is helping people with their finances, especially their retirement, life insurance, setting up strategies that will help them save on taxes and retirement,” Jackson said.
Jackson and his wife, Alisa Jackson, have worked hard to build a successful life for themselves and their children.
He is proud to see his children following his advice and succeeding financially.
“When my parents talked about money, they always sent us out of the room,” Jackson said. “I think it’s good to have these conversations with [your kids] in the bedroom. We have four kids and three of them are homeowners in their 20s, so they listen to us.”
Jackson is dedicated to helping others, especially the black community, achieve financial freedom.
“This is my passion,” Jackson said. “It’s a wonderful feeling when you help someone and see it happen in the future.”
Jackson says financial literacy is an issue many people struggle with.
“People get stuck,” Jackson said. “When it’s something they’re not familiar with, it’s hard for them to do. When we can help people in that way, I think that’s huge.”
Growing up, Jackson says he made mistakes with his personal finances.
“As a freshman in college, [I was] getting a credit card, stereos and stuff, not understanding credit and debt, and I had an accounting degree,” Jackson said. “I’m passionate about this. [issue] because of my own life and experiences.”
Jackson’s parents inspired him to help others in the community.
Jackson says his parents worked hard to provide a good life for their family. They never ran out of food or anything essential for life.
“They were very good at surviving and providing a good life, but there was no extra. There wasn’t the inheritance or the things that we actually try to train people to do. The real shocker for me… when my mother passed away, she had six life insurance policies and we discovered that none of them would pay out. They thought they had it all figured out. I realized that if they didn’t know, how many more families would be like this?” Jackson said. “Fast forward 15 years later. My father passes by. We discovered that his retired benefit was reduced, so it was not enough to cover his funeral. I realized we needed to do something about this.”
Jackson is now doing everything he can to help others create a life of financial freedom.
He says it’s important for people to talk about money and work to build a life and legacy they can leave for their loved ones.
“Everyone talks about generational wealth, but what are you doing to create it? Spending all your money doesn’t create that,” Jackson said. “The Bible says that a good man leaves an inheritance to his children’s children. To achieve this, you need to gather your own things. You have to create this environment where your children are in a better position than you, so that your grandchildren can be in a better position than your children, and that is ultimately our goal with generational wealth.”