We recently connected with Javarah ”Jay” Joseph CRPC™ and have shared our conversation below.
Javarah ”Jay” , appreciate you joining us today. Can you share a customer success story with us?
Mr. and Mrs. Wilson came to Jay’s Money Secrets with several financial concerns. Despite having steady incomes, they were uncertain on how to manage their finances effectively and grow their money safely. Their key pain points and challenges were:
• High levels of credit card/bad debt
• Inadequate emergency savings
• Unclear investment strategy and protecting money from downside protection
• Confusion about retirement planning
• Leaving a legacy for his kids and grandkids
Our Approach
• Comprehensive Financial Assessment: We began with a thorough analysis of their income, expenses, debts, assets, relationship with money, and financial goals. This helped us understand their current financial situation and their desired financial outcomes.
• Debt Management Plan: We developed a tailored debt repayment strategy where they built as, focusing on paying smaller debts 1st from borrowing from cash value in their insurance policies. We also negotiated lower interest rates with their creditors and established a 0% balance transfer credit card which helped reduce their monthly payments.
• Legacy Planning: We set up a combination of term and whole life insurance policies structured properly that protects their wealth while alive, grows, and leaves over 1 million dollars tax free to their inheritance. We also created a revocable living trust and helped fund it with all their assets to leave their legacy as desire, keeping it away from probate.
• Investment and Retirement Planning: We guided Mr. and Mrs. Wilson in consolidating their retirement accounts from prior & current employers and rolling some assets into indexed annuities that gives them downside protection and a guaranteed stream of income during their retirement. We also helped them optimize their contributions to their current retirement accounts, including a 401(k) and converting portion of funds into a ROTH IRA.
The Results:
• Debt Reduction: In just 4 years (saving them $21,000 in interest) they we will have all their bad debt paid off before retirement
• Emergency Fund: They successfully built an emergency fund covering three months of living expenses, providing them with financial security and peace of mind.
• Improved Savings: They increased their monthly savings rate by 20%, putting them on a solid path toward achieving their long-term financial goals.
• Retirement Planning: With a clear retirement strategy in place, Mr. and Mrs. Wilson are now maximizing their retirement contributions and have a diversified investment portfolio with downside protection that will result in having guaranteed tax-free income during retirement.
Great, appreciate you sharing that with us. Before we ask you to share more of your insights, can you take a moment to introduce yourself and how you got to where you are today to our readers.
I was born and raised in Fort Lauderdale, FL, with 3 other siblings. I came from a broken home being raised by a single mother and not knowing my biological father encouraged me to seek financial stability to help myself and my family. My mom always taught me to work hard. Throughout high school, I played basketball and worked part-time to help pay bills and stay out of trouble. Right after graduating high school, I moved 4 hours away to Jacksonville, FL, to attend the University of North Florida. I became the 1st in my family to obtain a college degree in accounting. Working in my accounting field, I wasn’t being fulfilled; I still wanted to help others become financially stable, which led me to a successful career as a licensed Financial Advisor at Merrill Lynch for 13 years, serving thousands and managing millions of dollars. Yet again, there was a longing for a greater capacity to serve clients on a deeper financial level other than just managing their money, which led to the birthing of Jay’s Money Secrets. Here at Jay’s Money Secret, we show people how to manage and invest money to build wealth and leave a legacy. We educate to simplify money where the everyday person can understand and be in a position to make the best financial decision for themselves, their family, and their business.
Any stories or insights that might help us understand how you’ve built such a strong reputation?
At Jay’s Money Secrets, building a strong reputation within our market has been a result of a multifaceted approach focused on delivering exceptional value, fostering trust, and maintaining consistent engagement with our clients. Key strategies that have contributed to our reputable standing:
Social Proof: Presence on YouTube, IG, FB, and LinkedIn
Exceptional Customer Service: Perfect 5-star ratings on Google Reviews
Commitment to Financial Literacy and planning field: 17+ year as a financial advisor
Designation & Licensees: CRPC™ (Chartered Retirement Planning Counselor), Series 7, 2-15 & 2-20 license
Features: CNN, Yahoo Finance, Go Banking Rates, NASDAQ, MarketWatch, AOL, and MSN
Contact Info:
- Website: https://www.jaysmoneysecrets.com
- Instagram: https://www.instagram.com/jaysmoneysecrets/
- Facebook: https://www.facebook.com/profile.php?id=25104207
- Linkedin: https://www.linkedin.com/in/jay-joseph-crpc%E2%84%A2%EF%B8%8F-92197519b/
- Twitter: N/A
- Youtube: https://www.youtube.com/channel/UC6dSM93PxA9UgDZklNQPrrg