On this episode of Real Money, Real Experts co-hosts Rebecca Wiggins and Dr. Mary Bell Carlson talk with AFC® Meredith Lozar. Meredith has an extensive career working for Navy-Marine Corps Relief Society, Blue Star Families, National Military Family Association, and DOD Spouse Education and Career Opportunities. Currently, Meredith is the Director of Military Spouse Programs for Hiring our Heroes, and she is also the president for the AFCPE board of directors.

The three discuss the financial impacts the Coronavirus has had on military spouses including a higher unemployment rate, historically lower savings, and childcare challenges. They look at what can be done to help with these issues and how the AFC® designation lends itself to being part of the solution. 

Show Notes:
00:52 Intro Meredith Lozar
01:40 COVID's impact on military families
04:03 The AFC® as part of the solution
05:47 The effect of childcare on military spouse employment
08:05 how employment affects  self-esteem/financial readiness
09:12 US Chamber Foundation Study results
10:23 Financially preparing for an emergency 
16:35 Importance of volunteerism
18:46 Financial Resources for military families
20:14 Meredith’s Role as President
23:01 Your Two Cents

Show Note Links:

Hiring our Heroes: https://www.hiringourheroes.org/
Military Spouse Road Map: https://www.milspouseroadmap.org/
Military Spouse Road Map Research: https://www.milspouseroadmap.org/research/#read-report
Getting the AFC® designation: https://www.afcpe.org/certification/accredited-financial-counselor/
FINRA Foundation Military Spouse Fellowship: https://www.afcpe.org/career-and-resource-center/finra-foundation-military-spouse-fellowship/
AFCPE Membership: https://www.afcpe.org/membership/

Find a financial AFC professional for help:
Find an AFC professional: https://www.afcpe.org/find-an-afcpe-certified-professional/
Military One Source Financial & Legal Help: https://www.militaryonesource.mil/financial-legal

This week, Real Money, Real Experts welcomes Axton Betz-Hamilton, AFC®, Assistant Professor of Consumer Affairs at South Dakota State University, and author of "The Less People Know About Us."

Co-hosts Rebecca Wiggins and Dr. Mary Bell Carlson talk to Axton about her personal experience with identity theft, specifically familial and child identity theft, how the law has changed to protect victims; and how financial counselors can better support those who have been affected.
Show Notes:
00:52 Intro Axton
05:37 "The Less People Know About Us"
11:18 The mental effects of identity theft
14:20 What financial professionals should know
18:70 Axton's personal experience with child identity theft
24:40 Rebuilding after a two-decade crime
31:30 Your Two Cents

Show Note links:

The Less People Know About Us book: https://www.amazon.com/dp/B07NL6MD9X

South Dakota State University’s Consumer Affairs program: https://www.sdstate.edu/consumer-sciences/consumer-affairs

New York Times Book Review: https://www.nytimes.com/2019/10/15/books/review/the-less-people-know-about-us-axton-betz-hamilton.html

NPR Book Review: https://www.npr.org/2019/10/20/771358674/in-the-less-people-know-about-us-a-mysterious-identity-theft-hits-close-to-home

Identity Theft Resource Center: https://www.idtheftcenter.org/

Federal Trade Commission’s Report Identity Theft: https://www.identitytheft.gov/

AFCPE Membership: https://www.afcpe.org/membership/

This week, Real Money, Real Experts welcomes Andrea Clark and Adrienne Ross, who are both owners of private practices, as well as members of the U.S. military community.

Co-hosts Rebecca Wiggins and Dr. Mary Bell Carlson talk to Andrea and Adrienne about their complementary certifications, the complicated distinction between investment education and advice, registering as an RIA, and other important questions around compliance. Both Andrea and Adrienne offer a wealth of information for those interested in starting a private practice.

Show Notes:
00:52 Intro Adrienne and Andrea
05:43 Creating a support system
08:52 Working with the military community
10:28 Compliance and registering as an RIA
15:00 Education versus advice
19:16 State by state registration requirements
29:50 What Andrea & Adrienne wish they knew
36:00 Your Two Cents
38:00 Final notes about registrations

Contact Your Regulator: https://www.nasaa.org/contact-your-regulator/
Series 65 Study Guide: https://www.nasaa.org/exams/study-guides/series-65-study-guide/
https://www.finra.org/registration-exams-ce/qualification-exams/series65
Starting a business: https://www.kitces.com/blog/financial-coaching-what-it-is-and-how-to-become-one/
Registering a firm: https://www.kitces.com/blog/registered-investment-adviser-requirements-series-65-exam-timing/XYPN:  https://www.xyplanningnetwork.com
MFAA:  http://militaryfinancialadvisors.org
Table Financial Planning: https://thetablefinancialplanning.com/
Clear Insight Financial Planning: https://mycifp.com/
Garrett Planning Network: https://www.garrettplanningnetwork.com/

AFCPE Membership: https://www.afcpe.org/membership/

This week, Real Money, Real Experts welcomes Michael Roush, Director of the Center for Disability Inclusive Community Development at the National Disability Institute.

Co-hosts Rebecca Wiggins and Dr. Mary Bell Carlson talk to Michael about how financial coaches and counselors can best serve people in the disability community.

*Show Notes*
00:50 Intro Michael Roush
05:10 Defining disability
08:19 Accessibility vs. equity
12:10 Why counsel individuals with disabilities
14:55 Building awareness among coaches
18:10 Impact of COVID-19
21:12 Disability resources coaches should know about
23:11 NDI & AFCPE® Financial Inclusion Essentials
26:41 Your Two Cents

Show Note links:

National Disability Institute: www.nationaldisabilityinstitute.org

Race, Ethnicity, and Disability Brief - https://www.nationaldisabilityinstitute.org/reports/research-brief-race-ethnicity-and-disability/

FDIC and Disability Unbanked and Underbanked Report

https://www.nationaldisabilityinstitute.org/reports/banking-status-and-financial-behaviors-2019/

Financial Inclusion Essentials: https://www.afcpe.org/education-and-training/financial-inclusion-essentials/

Americans Disabilities Act from the Department of Justice: https://www.ada.gov/

ABLE Accounts: https://www.ablenrc.org/

NDI’s information on ABLE Accounts: https://www.nationaldisabilityinstitute.org/financial-wellness/able-accounts/

Virtual Financial Counseling/Coaching Initiative: https://www.yellowribbonnetwork.org/afcpecovid19

NDI’s Financial Resilience Center: https://www.nationaldisabilityinstitute.org/financial-resilience-center/

This week, Real Money, Real Experts welcomes Shelby Henderson and Tiffany Murray from Texas Tech University's Red to Black® Peer to Peer Financial Coaching Program.

Co-hosts Rebecca Wiggins and Dr. Mary Bell Carlson talk to Tiffany and Shelby about the effectiveness of peer-to-peer programs, and the ripple effect that financial knowledge can have.

*Show Notes*
00:45 Intro Tiffany and Shelby
02:18 What is Red to Black®
06:11 Shelby's background as a student
07:58 Tiffany's career change
12:04: Students' biggest financial challenges
15:18 Knowledge Bowl
17:11 How more universities can make it work
22:06 Sitting for the AFC® as a student
26:52 Student success stories
30:19 Your Two Cents
34:43 Reflecting on the ripple effect

Show Links:

Texas Tech University’s Red to Black program: http://www.depts.ttu.edu/r2b/

Texas Tech’s Financial Planning Program: http://www.depts.ttu.edu/hs/pfp/

Student Financial Literacy: Campus-Based Program Development by Drs. Dottie Durband and Sonya Britt Lutter: https://www.amazon.com/Student-Financial-Literacy-Campus-Based-Development/dp/1461435048

Follow Red to Black on LinkedIn: https://www.linkedin.com/company/red-to-black/

AFCPE Symposium Registration: https://www.afcpe.org/symposium/

 AFC Certification Overview & Registration: https://www.afcpe.org/certification/accredited-financial-counselor/

This week, Real Money, Real Experts welcomes Sonya Passi, Founder and CEO of FreeFrom, focusing on financial security and freedom for survivors of gender-based violence.

Co-hosts Rebecca Wiggins and Dr. Mary Bell Carlson talk to Sonya about the intricacies of gender-based and intimate partner violence, and how that impacts survivor's financial well-being.

*Show Notes*
00:45 Intro Sonya
03:54 Prevalence of Intimate Partner Violence
08:19 What Violence and Survivors Look Like
11:04 Impact of COVID
15:14 Violence & Finances
17:06 About FreeFrom
23:05 What Employers Can Do
29:38 How Financial Coaches Can Confront Violence
36:26 Your Two Cents
39:07 Symposium

Show Notes:

FreeFrom: https://www.freefrom.org/

FreeFrom Safety Fund Report: https://bit.ly/Survivors-Know-Best

This week, Real Money, Real Experts welcomes Carl Richards, Certified Financial Planner and creator of the Sketch Guy column in the New York Times.

Co-hosts Rebecca Wiggins and Dr. Mary Bell Carlson talk to Carl about adopting a 'problem understanding' mindset when working with clients and becoming a guide rather than a map defender. Carl also gives a preview of his presentation at this year's AFCPE Symposium.

*Show Notes*
00:45 Intro Carl
01:28 The Drawing Board
05:29: Building Client Rapport
07:16 How to Listen
14:59 The Art vs. The Science
18:58 Value in Financial Planning
21:28 Judgement & Competition
28:14 Sneak Peek of Symposium
30:10 Your Two Cents

This week, Real Money, Real Experts welcomes Dr. Billy Hensley, CEO of the National Endowment for Financial Education (NEFE). Billy has a distinguished career in personal finance, philanthropy, and higher education and now leads NEFE in bringing financial access to all Americans.

Co-hosts Rebecca Wiggins and Dr. Mary Bell Carlson talk to Billy about how career, the impact of COVID-19 on personal finances, and the role that all financial professionals can play in lifting up communities.

*Show Notes*
00:45 About Billy
02:21 Personal Finance Access Issues
05:40 Growing Up In Appalachia
09:25 A Holistic Personal Finance Ecosystem
13:24 Knowing Yourself to Find Opportunities
15:17 The Future of NEFE
19:23 Creating Opportunity -  100 AFCs
23:53 Impact of COVID-19
27:30 Your Two Cents

Show Note links:

NEFE Website 

https://www.nefe.org/

NEFE Personal Finance Ecosystem

https://www.nefe.org/about/our-philosophy/ecosystem/default.aspx

Racism, Bias and Economic Inequality Impair the Financial Well-Being of Millions

https://www.nefe.org/press-room/news/2020/racism-bias-economic-inequality-impair-financial-well-being-of-millions.aspx

With This Crisis Does Financial Literacy Even Matter?

https://www.nefe.org/press-room/news/2020/with-this-crisis-does-financial-literacy-matter.aspx

Politics is Hindering the Effectiveness of Financial Education

https://www.nefe.org/press-room/news/2019/politics-hindering-effectiveness-of-financial-education.aspx

This week, Real Money, Real Experts welcomes two special guests to talk about two very important, and intersecting concepts. Dedrick Asante-Muhammad and Heather McCulloch join us to talk about racial and gender wealth gaps: what they are, why they exist, how they intersect, and what financial coaches and counselors can do to help their clients overcome them. 

Dedrick is the Chief of Race, Wealth, and Community at the National Community Reinvestment Coalition, and Heather is the Founder and Executive Director of Closing the Women's Wealth Gap.

Co-hosts Rebecca Wiggins and Dr. Mary Bell Carlson talk to Dedrick and Heather about their careers, and how they've come to be experts on racial and gender wealth gaps.

*Show Notes*
03:08 About Heather
05:36 About Dedrick
07:49 The Gender Wealth Gap
12:05 The Racial Wealth Gap
14:10 COVID's Impact on Race
19:19 COVID's Impact on Gender
22:31 Moving Women Forward
25:02 Moving Racial Minorities Forward
26:50 Balancing Private and Public Assets
27:33 How Financial Professionals Can Help
33:14 Your Two Cents

CNN piece with Jennifer Siebel Newsom

https://www.cnn.com/2020/05/06/perspectives/women-economic-policies-coronavirus/index.html

Slate with Kilolo Kijakazi

https://slate.com/human-interest/2018/05/gender-inequality-closing-the-wealth-gap-is-critical-to-future-financial-security.html

- Report by CWWG Deputy Director, Dominique Derbigny.

- Report by Jocelyn Frye, Sr. Fellow at the Center for American Progress

- Spotlight on Poverty commentary by the Dominique and Jocelyn 

- Article on the Color and Gender of COVID by Professor Catherine Powell of Fordham 

CWWG paper by Dominique Derbigny:

https://womenswealthgap.org/report/

CWWG Framing Paper:

This week Real Money, Real Experts welcome guest Darren Liddell. Darren's extensive background involves everything from non-profit to tax preparation to extensive work as a racial wealth equity advocate. Liddell has been working in the financial security field for over 8 years. Most recently, Darren served at The Financial Clinic as Director of Program Innovation. In this role, he oversaw the services, data, and policy teams, while providing innovative direction to the Clinic’s new and existing local and national programs.

Co-hosts Rebecca Wiggins and Dr. Mary Bell Carlson talk to Darren about his financial path and how to address racial wealth equity in the field of finance.

*Show Notes*
00:51 About Darren
07:36 Turning Experience into Opportunity
08:21 Tax Prep and the Pandemic
09:12 VITA Services
11:15 Racial Inequality in Finance
13:11 Building Wealth for Your Clients
15:33 Policy and advocacy as a way to address racial wealth equity
21:04 Fintech and the Racial Wealth Gap
25:17 Getting involved in non-profit
26:41 Your Two Cents

Resource Links:
University of Georgia's Financial Planning Program: https://www.fcs.uga.edu/financial-planning
United Way’s Financial Coaching Program: https://www.unitedway.org/our-impact/focus/income
NeighborWorks America: https://www.neighborworks.org/
University of Georgia’s VITA program: https://www.fcs.uga.edu/fhce/vita
Internal Revenue Service’s VITA Programs: https://www.irs.gov/individuals/irs-vita-grant-program
The Financial Clinic: https://thefinancialclinic.org/
Catalyst Miami: https://www.catalystmiami.org/
Prosperity Now: https://prosperitynow.org/
Road to Zero (Racial Wealth Equity Data): https://prosperitynow.org/resources/road-zero-wealth
SaverLife: https://www.saverlife.org/
Brunch and Budget: https://brunchandbudget.com/
See Change: https://seechangefinancial.com/
Propel: https://www.joinpropel.com/
Join AFCPE’s Government Relations Committee: https://www.afcpe.org/afcpe-member-task-forces/

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