Financial illiteracy is a blight on our country. When we allow financial illiteracy to spread among our most vulnerable population, it weakens our community as a whole. But as members of the financial services industry, we all can play a role in tackling this problem.
The promise of the American Dream. The ‘rags-to-riches’ tale. We all know how compelling these stories are, and have felt the desire to improve our lot in life. But in order for the American dream to become reality, or even be within reach, we have to ensure equality of opportunity. And the stark reality is that we cannot truly have equality of opportunity in the absence of financial literacy.
I recently had the honor of speaking with two enthusiastic advocates for financial literacy, Tyrone Ross and Josh Brown. Tyrone is the CEO at Onramp Invest and the founder of 401, a storytelling consultancy. Josh is the CEO at Ritholtz Wealth Management and blogs as The Reformed Broker. Together, we discussed how widespread financial illiteracy is, and how we, as a financially literate community, can help.
As you will have heard in the video, there are lots of resources available to help. If you’re looking to improve your own or your client’s financial literacy, try:
If you’d like to learn more about ways to help combat financial illiteracy within your community:
Remember that the greatest risk is not showing up, not taking action. We hope you will share these resources with your colleagues and clients to keep the conversation alive.
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