CREATING
GENERATIONAL WEALTH A Financial Fitness Resolution
by yvonne j. medley for the urban sentinel
I
t’s January, 2019. ‘Tis the season to declare improved lifestyle changes and/or to clear out bad habits. While diet and physical fitness comes to the minds of many, Douglas A.C. Eze, author of Creating Generational Wealth, will surely advise that financial fitness should be added to the list. However, “studies from around the world show that people are more comfortable talking about sex, politics and death than their finances,” reported Kevin Voigt of NerdWallet.com [USA Today’s Star Press, January 18, 2018]. It appears that things haven’t changed much in a year’s time—or for decades. Part of the reason for the above aversion, besides—unadulterated fear of financial bottom lines, salted by the shame of not measuring up to The Jones’—could be the stress of maneuvering through money mazes, trying to make sound decisions. “Based on the information [given]— the way they [most financial experts] 6
make it so complicated,” Eze, 43, explained, makes people avoid the money talk. “So the one thing that I do is to make it simple for people to understand.” To absorb his financial logic feels like ah-ha moments for keeping more of one’s hard-earned money in his or her pocket—or purse. “That’s why I wrote the book,” Eze said. He added that most of the comments he’s received about Creating Generational Wealth centers on how he’s managed to make it an easy read. “I wanted to write something, and teach people the way that I would understand it. Because telling me big words, and all this stuff about stocks ….” He paused for a moment and shook his head as if to slip into the shoes of a financialnovice. Then he continued, “… I don’t understand those things. So I need to talk about things that make sense.” In his self-help offering, he writes, “It is time to unlearn all of the false information you have been told your
whole life.” He reveals how it’s possible for families to find money due to common spending mistakes such as not choosing the right car insurance deductible; making income tax errors; failing to understand how best to pay one’s mortgage or pay off student loans; or not realizing the true benefit of life insurance—even if you’re single and don’t have dependents. “Getting into the industry, and gaining more and more understanding, I got excited about helping people save money, plan for retirement, and plan for their children’s college,” Eze said with a broad, inviting smile. A stern eye-to-eye took over when he shifted to a grim reality. “But then as I met with families and sat down with them, I realized that people didn’t have money to save [because] they were struggling with debt.” The financial adviser-turned-author explained his revised goal. “So what I started doing is helping families find money in places they might be throwing
