169 Askia Davis, Sr, Investing Expert Provides End Of Year Financial Expertise On Finishing 2021 Financially Strong

Stock Investor and real estate investor Askia Davis, Sr. provides
a masterful review of what people should consider financially as
2021 comes to a close. One of the most important things people
should consider is who they are as managers of their own personal
finances.


Askia is the most interviewed guest expert on Wealth Academy
Podcast. He completed a doctoral degree at Teacher's College from
Columbia University. Over the course of his professional career,
he has been a teacher, counselor, administrator, and senior
assistant to three successive chancellors of the New York City
Public Schools. Askia Davis, Sr was superintendent of schools in
Harlem, and deputy regional superintendent for 140 schools
serving 99,000 students in the Bronx.


Askia discusses the importance of budgeting and getting control
of any and all credit card debts, personal loans, and more. 


Additional financial areas to focus on at the end of 2021:
 Pass on generational wealthStart learning about financial
success, self-knowledgeYou have to know finances for yourselfinvest
in the stock market, discover what your employer is invested in low
return bonds, etc.Discover what your employer is investing inFocus
on how much you are contributing to your investments, try to invest
as much as possible (compound interest over time)For young people
working for a company, invest early and oftenRoth IRA, work to
invest as much as possible - Fidelity, Vanguard are examples of
types of investmentsProperly align your deductions, don't pay too
much in your effort to get a larger return, use the money to invest
insteadSocial security, decide when you want to receive itGet a
subscription to Morning Star and the Motley Fool to educate
yourself financially.Never invest in things you don't
understandDon't invest in crypto unless you are willing to lose
some of your moneyStay out of the casinos, avoid losing your money,
don't spend money on Draft King, etc.Housing, assess your mortgage
rate, refinance for a lower fixed rateMortgage PMI, when you get to
20% down payment contact your mortgage insurer and save moneySet up
a living will and a trust, don't allow probate court to control
your wealth, create generational wealth for your survivorsWorking
with a lawyer is the path to follow, get an accountant and set up a
trust, set up a living will, and set up a way to donate valuable
artwork, deductions, and moreMax out your retirement account with
contributions, purchase propertyDefined benefit account based on
your years of service as a federal, state, city, or local
government employee, this allows employees to recapture the years,
buy back the years to stay on track with one's pension plan, this
impacts total retirement yearsTake advantage of stock options where
you are employed, for example, Amazon, Walmart, and other big box
storesKnow your risk tolerance for investing, think in terms of the
long term

Enjoy this episode and encourage your family, friends, and
colleagues to listen to this episode with Askia Davis, Sr., go to
Apple Podcasts and rate and review episode 169. Thank you for
your wonderful support and have a wonderful Christmas.


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