Other Thoughts From The NYC Stop

NAPFA-Registered Financial Advisor Clare Stenstrom talked with some folks in Harlem about their concerns. Here are a couple of her experiences:

A man came up to the bus and he just was released from jail, has no job and no idea what to do. We referred him to Project Renewal (a homeless shelter) or the Doe Fund that has a work program to help people get back on their feet.

Another person, Ruby, wants her daughter to go to college but knows she will never have the money to pay for it. We suggested that her daughter go to community college for two years, keep her marks up and transfer to a City University where she should be able to get financial aid and scholarships, providing she has good marks.

Renee Ross, another NAPFA-Registered Financial Advisor, had the pleasure of talking with other people about their concerns:

Today I had a chance to provide financial advice to the residents of Harlem via a Money Bus program. I had a chance to speak to people of all ages about various financial issues. There was an older retired woman who has an annuity with her previous employer. She is required to take a total withdrawal and wanted to get some advice about where to put the funds. Later I spoke to a young woman who wanted to learn about mutual funds and investing for her future. After that I spoke to a young man who owns a home, has been investing in his and his wife’s retirement account and wanted to get information about college funding.

There were many other people that had questions about finances. Some were as simple as, what should I so with my retirement account right now. The opportunity to talk with individuals in the neighborhood about financial issues is a wonderful thing. I was told by several people that I spoke to that being able to talk to someone one-on-one was really appreciated.