How far does your dollar go?
The goal is to create an accessible and affordable, financial services and educational space. With services available for families, individuals and businesses to establish financial goals, create wealth and enhance their financial IQ. Be at ease with knowledge back expertise when entering the world of wealth creation whether through Real Estate, Business Creation or investing (Wall Street). Let us partner together and start rebuilding excellence.
Reality Check
The Process
The journey of a thousand steps starts with the first one.
The road to financial freedom doesn’t start with a lot of financial and mathematical jargon, spreadsheets or equations, it starts with the decision to make a change.
WE HELP FAMILIES GET ON THE PATH TO A SECURE FINANCIAL FUTURE
We understand that everyone’s healthcare and financial needs are different, and we strive to provide our clients with the best possible coverage at the lowest cost. Our team of experienced professionals is here to help you navigate the complex world of financial institutions and decisions so you can make an informed decision about your coverage. We take the time to understand your individual situation and provide you with personalized advice so you can find a plan that meets your budget and lifestyle.
Taking control of your financial future can feel overwhelming. And, if you’re like many people, it’s hard to even know where to start. When you consider that financial education isn’t often taught in schools, it’s no wonder so many of us enter adulthood knowing very little about the fundamentals of healthy money management.
Our goal is to empower you to make informed financial choices through education and then match you with the right financial solutions, life insurance, investments, income and mortgage protection and more, that can help you achieve your financial goals.
– Do I Need Life Insurance?
If anyone is depending on your income or if you have obligations (debt, mortgage, etc.) that would fall to someone else to handle if you were to die, then the answer is, “Yes.” Life insurance acts as a substitute for income. Have you ever calculated how much you’ll earn in your lifetime? Typically, over the course of your working years, the answer is usually “a fortune.” The potential risk of losing that earning power, earnings you’ll need to fund your family’s biggest goals like buying a home, paying for your kids’ education, reducing debt, saving for retirement, etc, especially at the early or mid-point of those years, is what makes life insurance a necessity for most people.
– What is whole life insurance?
Whole life insurance is a type of permanent life insurance that provides lifetime coverage and builds cash value. It offers a guaranteed death benefit to beneficiaries and includes a cash value component that can be accessed during the policyholder’s lifetime. Unlike term life insurance, which provides coverage for a specific period, whole life insurance remains in effect as long as premiums are paid, and the policyholder is alive.
– What is Term Life Insurance?
Term life insurance provides coverage for a specific period of time, or “term” of years. If the insured person dies within the “term” of the policy and the policy is still in force (active), then the death benefit is paid out to the beneficiary.
This type of insurance typically allows clients to initially purchase more insurance coverage for less money (premium) than other kinds of life insurance. The “Buy Term and Invest the Difference” philosophy encourages clients to take this “difference” in premium and invest it for the future.
– Get to know your debt
If you’re like most people, you carry some kind of debt balance from month to month, credit cards, a mortgage, student loan, auto loan, etc. At 1921, we understand how overwhelming debt can feel sometimes, but with the right game plan in place, and a little discipline, we can show you how you CAN pay it down.
Before we get into the “how,” it’s important to understand what kind of debt you’re dealing with.
– Secured or Unsecured: What’s the Difference?
All debt falls into two categories: secured and unsecured and are considered fixed (equal monthly payments like a mortgage or installment loan) or revolving (minimum payment changes based on total debt amount like a credit card).
– Secured – This type is asset-based where the asset (i.e. your home or car) is used for collateral. Your mortgage or an automobile loan are examples of a secured debt.
– Unsecured – Unsecured debt isn’t tied to any asset. Credit cards, medical debt, student loans, personal loans, etc. fall into this category.
While some debt, like your mortgage or student loans can be considered “good” in the sense that your home or education will increase in value, paying them off quickly can put you in a much better financial position sooner rather than later!
Mortgage Protection Insurance (MPI) offers several benefits:
- Payment of Mortgage Upon Death or Disability: MPI pays off your mortgage if you die or become disabled and can’t work. This protects your family from falling behind on mortgage payments, which can lead to foreclosure or having to sell your home.
- Beneficiary is the Mortgage Lender: Unlike life insurance where the beneficiary is usually a family member, the beneficiary of MPI is your mortgage lender. The payment does not go to you or your heirs but goes directly to your mortgage lender to pay off the loan.
- Coverage for Principal and Interest: MPI policies generally only cover the principal and interest portion of a mortgage payment. Other fees like HOA dues, property taxes, and homeowners insurance would still be your responsibility.
No Medical Evaluation Required: It can be easier to get MPI coverage than life insurance as there’s no medical evaluation required.
– Protect your identity.
Identity theft remains one of the top consumer complaints filed with the FTC, with 3 in 10 Americans reporting having had their identity stolen in 2023 alone. Victims are spending an exorbitant amount of time and money dealing with it. The criminals are getting smarter. And they’re not going away.
– Skills and Techniques:
Monitoring your personal information and financial accounts
Providing counseling and emergency assistance, if needed
Restoring your identity should an identity theft event occur
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The Mandate
The years surrounding the recent pandemic was a particularly difficult time for everyone in the world. Just recapping a few events involved police brutality, unnecessary remarks by elected officials, inflation, supply chain disruption and the stock markets wild ride. But, there was one thing that stood out to me the most. The economic forecasting that the average household net worth of African-Americans would be $0 in 2053. I’m not the smartest guy in the financial arena, but I knew there was something I could do. I dropped everything I was doing, quit the job I had at the time, and put everything into becoming a financial planner.
I knew I didn’t just want to start coke all people selling insurance, so I focused on legacy and estate planning. This area was important to me because so many people were losing family young and old leaving family members behind without a will, a plan or any financial security. The things that I’ve learned, and still learning on my own journey is what 1921 is all about.
In the early 20th century O.W Gurley brought 40 acres of land in Tulsa Oklahoma. Due to extreme racism, and not being able to sell to white people, Gurley sold his property to African-Americans who were seeking opportunity. Next came a small community, that we have come to know today by the name it was given by Booker T. Washington, “Black Wall Street”.
Black Wall Street was a community of African-American business and land owners, consisting of black-owned pharmacies, doctor offices, convenience stores, barbershops, jazz music lounges, hair salons, schools, churches etc.
During this time, Booker T. Washington was also starting Tuskegee University, George Washington Carver was innovating agricultural techniques and creating multiple inventions using the peanut. Madam CJ Walker was creating a haircare Empire, all while Marcus Garvey was starting the first African-American owned international cruise line, Black Star Cruise Line, raising millions of dollars in today’s money, from African-Americans who wanted to be a part of building something great together, and who can forget the grandeur of the Harlem Renaissance.
The vast majority of these events are taking place simultaneously as, the Spanish flu of 1919 was affecting 50 million people, yet, these pioneers, educators, businessmen/women and innovators were unimpeded in being deterred from their mission. And let us not forget to mention another little fact, all this took place during World War I.
World War I, as we know, was one of the worst wars the planet has ever seen, yet such accomplishments were achieved. 100 years later, during another pandemic the minority community seems to be at a disadvantage, and the thought of re-creating what was just done 100 years ago, seems impossible. With all of that being said, it is mind-boggling that statistics show that defendants of the people that accomplished the seemingly impossible just 100 years ago are at risk of having a family net worth of $0 in 30 years! That my friends, is a serious problem.
The Bigger Picture
The hopeful evidence in America’s past.