In this episode, Lovely and Lawrence talk about the growth of the #DebtFreedomJourney and how it's not always as great as it seems. Popularized by Dave Ramsey in the 2000s, Debt Freedom and #FinancialPeaceUniversity have been re-positioned as an emotional argument when in truth, money management is at the intersection of arithmetics and critical thinking. For example, local bank savings account is still going for 0.01%. An investment of $10,000 in 2021 would have yielded $1. In contrast, an investment of $10,000 in Bank of America $BAC would have yielded $14,881. An investment in JP Morgan Chase $JPM of $10,000 would now be worth $12,811. An investment in American Express $AXP of $10,000 would be $12,743. There is a huge difference from those numbers versus earning $1. Financial Literacy is the real path of wealth. We have to understand how to grow our money wisely.
In this episode, Lovely and Lawrence talk about the growth of the #DebtFreedomJourney and how it's not always as great as it seems. Popularized by Dave Ramsey in the 2000s, Debt Freedom and #FinancialPeaceUniversity have been re-positioned as an emotional argument when in truth, money management is at the intersection of arithmetics and critical thinking.
For example, local bank savings account is still going for 0.01%. An investment of $10,000 in 2021 would have yielded $1. In contrast, an investment of $10,000 in Bank of America $BAC would have yielded $14,881. An investment in JP Morgan Chase $JPM of $10,000 would now be worth $12,811. An investment in American Express $AXP of $10,000 would be $12,743.
There is a huge difference from those numbers versus earning $1. Financial Literacy is the real path of wealth. We have to understand how to grow our money wisely.
Here's a bit about our background and who we are:
The Financial Griot is a play on two words (Finance + Griot) that hold significance in closing the racial wealth gap.
Merriam-Webster defines a Griot as a West African historian, storyteller, praise singer, poet, or musician. The griot is a repository of oral tradition and is often seen as a leader due to their position as an advisor to royal personages. As a result of the former of these two functions, they are sometimes called a bard.
As such, we tell the stories that others don't. Stories that we should share for growth, opportunity and understanding. Beyond that we talk about Finances. Specifically, how to become Financially literate, incorporating actionable steps and ultimately building generational wealth.
So there you have it, The Financial Griot or TFG for short. You will be in for a treat. The hosts were able to amass over $2.5 Million in wealth in about 8 years and are on track to retire early. If you want the secrets; we will gladly share them since opportunity is abundant and Win-Win.
Connect with TFG Crew:
Alainta Alcin - Blogger, Travel and Money Enthusiast @its_alainta
Lovely Merdelus - Entrepreneur and Small Business Growth Specialist @lovelymerdelus
Lawrence Delva-Gonzalez - Auditor and Financial Literacy Educator @theneighborhoodfinanceguy