The Financial Promise Company
Jason M. Fields, CFEI (Certified Financial Education Instructor). He holds a BS Degree in Business Management- Cardinal Stritch University. Jason is the Founder and President of GlobalEx, LLC Holdings. He is also the Co-Founder and Partner of DiversifyForex, a Foreign Currency, Stock, and Binary Options Investment Education Firm.
In 2005, Jason became the first African-American man to be elected to the Wisconsin State Assembly 11th District. He is a published author having written two books. He is currently working on his CHP (Certified Hedge Fund Professional) designation.
Jason started his career in the financial services sector where he helped actively manage over $100 million in assets. His experience includes bonds, equities, derivatives, insurance and residential and commercial loans.
He has been honored with several prestigious leadership awards, executive training and special designations, such as; Governor Scott Walker Appointee to the Social Development Commission (SDC) 2012-2016, The Bowhay Institute for Legislative Leadership Development, 2012, Black Alliance for Educational Options 2012 Ed Reform Champion Under 40, Hispanic Chamber of Commerce of WI, Government Advocacy Award, 2012, Seat Belt Champion Award, 2010, Wisconsin Minority Supplier Development Council Award for Excellence, 2009, Ohio Coalition for Quality Education, Putting Kids 1st Award, 2008, Specialized Medical Vehicle Association of WI Legislator of the Year Award 2008, Wisconsin Builders Association, Friends of Housing 2007, 2008, 2009, 2010, 2011, WI League of Conservation Voters, Conservation Champion 2008 & 2012, Flemming Leadership Institute, Class of 2007, Program for Emerging Political Leaders at the University of Virginia’s Darden School of Business
He is a member of Prince Hall Masons, Alpha Phi Alpha Fraternity, Incorporated, The Independent Order of Odd Fellows and The US Global Leadership Coalition, and International Society of Business Leaders. Jason is also a National Speaker on international business, financial literacy, and education reform policy.
BS, Business Management, Cardinal Stritch University
One way to rebuild your credit after a mistake such as a charge-off is to get some positive items on your credit report. Have you maintained any current credit cards or loans, if so, continue paying them and remember it is vital that you pay them on time. The same thing goes for accounts that aren’t reported to the credit bureaus, because these items can end up on your credit report if you fail to make your payments.
Try getting New Credit.
You may have difficulty in getting credit with negative items on your report. There are several credit card issuers who offer credit cards for those who need to rebuild their credit. Look to open a secured credit card. This will help, but again remember to pay back and pay on time.
Understand that with time, your credit score will improve as you use your credit cards and pay on time every month. This won’t happen overnight but you can view your progress by signing up for a free credit scoring service like Credit Karma or Credit Sesame.
I hope this helps!
-Jason M. Fields
First let me say congrats on planning and putting yourself and your family in a positive position in case of an emergency.
I believe that you have to write down your goals and them prioritize them. For example, you are 26 and you have a family. Is it more of a priority for you to begin to save/invest for retirement or potentially saving/investing for your childrens education? It may be possible to do both if you so desire.
Once you prioritize your goals then you can begin to make preparations to strategically fund those. I am not sure of the age of your children but it is possible to contribute to a IRA or Roth if you don't have a 401K and add funds to three separate accounts for the kids. Is it possible that you need more insurance? Health, Life, Dissability?
Upon gaining an understanding of your priorities you then can seek to invest for those goals. At 26 years of age, I would consider investing simply because you have time to ride the ups and downs of the market and take advantage of market returns. Dollar cost averaging may be the most effective and efficient way for you to reach your investing goals.
In conclusion, think about what you want to achieve and where you want to be in life, prioritize your wishes, and then invest.
-Jason M. Fields
Truthfully it depends on the "Advisor". I actually do focus on that target demographic. In some cases it is about efficiency and running a business, so unfortunately Assets Under Management (AUM) do really matter! That said, I focus more on the teaching aspect and the emotional do's & don'ts for that demographic.
Educating that target demographic takes time, and it takes a real committment to the cause and the fight. You have to expend a lot of time for very little reward. Many times it is not financially efficient to try to reach a group who may not end up doing what they should do financially out the gate.
At the The Financial Promise we offer free classes and courses as well as a number of sessions to educate that target dempgraphic with the intent on growing them into clients, and if not for us, then for others. Our ultimate goal is to help that population who simple needs to get started!
Jason M. Fields
It is great that you have built up an emergency fund. I would look into opening a Roth-IRA.
As you begin to go futher into securing your financial future, remember to write out your goals. You may want to start by answering these questions:
1. What will I need to live off of in my retirement years, and how long will I need to draw those funds?
Upon determining that number, how much will you need to invest and what annual return will get you there, with a risk tolerance level your comfortable with.
2. Now that you have the beginning of your retirement plan, ask yourself what are your immediate and long term financial goals? Write them down, and review them every year!
This is a basic quick answer as to what your next step may be.