Nashville-based financial guru Cory Beal, Sr. is the founder/CEO of Rekindled Dreams, an organization that’s committed to providing enlightenment to what many consider a bleak future for young adults within the African American community.
Cory’s motivation for starting the organization comes from his experiences growing up as a Black male in the challenging neighborhoods of Chicago, Ill. Cory was one of the city’s top athletes, but devoid of any true leadership Cory did not maximize his athletic opportunities. And those missed opportunities have motivated him to always have an everlasting connection and impact on the lives of his children.
As a member of Iota Phi Theta Fraternity, Inc., Cory serves as a mentor to many aspiring young professionals nationwide. They are consistently reaching out to him for guidance and support, and admire his heartfelt ambitions, along with his charismatic nature.
Because of his interest in reducing children’s exposure to concentrated poverty, which is an obstacle to economic mobility, Cory has connected with Family First Life, one of the world’s largest financial services companies in order to educate and empower individuals and families with the economical sophistication that was once reserved for only the rich and powerful. Beal is on a mission and is driven by his passion to cultivate positive change within the African American community.
As we all are finishing out the year 2017 and going straight into the ‘Big 3’ holiday season (Thanksgiving, Christmas, New Years and then into 2018), we asked Cory to share a few valid questions that can help everyone. He was asked to respond from his professional and personal experiences from a one-on-one prospective on handling financial matters. Cory shared the answers freely as if it were just child’s play. In all reality, these and other life effecting financial matters or situations are very serious and should be addressed accordingly.
1) What is your opinion of financial dignity when it comes to having life/burial insurance?
“I think financial dignity is such a virtuous trait to posses because it shows that even in the afterlife, your end goal was not to be a financial burden to your family, friends and loved ones who may not have the money to ensure your proper burial.”
2) How do we go into the New Year with basic to serious planning for credit and saving money, no matter what our monthly income is or where we get it from?
“The harsh truth that many people hate to face or accept regardless of how limited their income is, is that inflation doesn’t care—especially in this capitalistic society. They say birds of the same feather flock together, so it’s a great chance that people you are around have the same income. Who is going to protect you, if something unforeseen disrupts your way of living?”
3) What do you specialize in as a financial entrepreneur?
“I specialize teaching individuals how to become their own personal economy and create wealth regardless of income status by teaching time tested money concepts that the wealthy have been using for decades, including: the ‘Rule of 72,’ the magic of compound interest, and tax-free retirement, and many other strategies that are very simple to gasp. But most importantly and essentially, building wealth is at the forefront of your goals.”
4) How important is it to start to train our children proper money management? What age do we begin (from placing change in a piggy bank on up)?
“Hands down, it’s one of the most important decision a parent can make, especially if you want to help the next generation avoid the mistakes of their parents and the importance of living a financial life. This is very critical to their personal development and will empower them to make the right decisions when it comes to the type of the relationship they want to have for themselves and others.”