Summary: Sometimes, the best plan is simply having a plan. No one knows that better than Howard University Professor and Dept. of Economics Chair, Omari Swinton. In this week’s episode of My next Move, Michael Liersch talks things over with Dr. Swinton, a father of four and family business owner who advises us that families and individuals can benefit from being intentional with money decisions. He suggests simple, yet often overlooked ideas meant to ensure financial health – like setting up a plan ahead of time to carry out an elder’s wishes or creating a policy for a child who goes off to college. Dr. Swinton also stresses the importance of building credit early, as well as actually being mentally prepared to attend college. “It’s a huge investment that doesn’t necessarily give large returns unless you finish,” he reminds us. Need some light shed on a financial topic? Let us know by emailing us at mynextmove@jpmorgan.com
