TechCulture When a small business owner in Fort Washington, MD needed to restructure his retirement plan, the last place he thought to look was at his local park, where a staggering 6’8″ tall resident was casually shooting hoops on the court.
However, this was precisely where the small business owner needed to be. See, the person on this court wasn’t just a former collegiate basketball star blowing off some steam; he was Tayvon Jackson, a financial advisor, author, and advocate for financial literacy in his community.
When Jackson isn’t on the court, he conducts financial literacy seminars and helps families achieve their long-term financial goals through innovative approaches.
Though this was not the path Jackson originally saw his life going. The former collegiate athlete initially had dreams of making it into the NBA. However, as his athletic career progressed, he realized he might not be the rising star everyone expected and needed a plan B.
“I figured if I couldn’t make it into the NBA, I could be the guy who helps NBA players avoid going broke, which is a huge concern for athletes.”
Upon this realization, Jackson decided to triple major (yes, you heard that right) in Math, Business, and Information Systems, with a minor in Accounting, the holy grail for any aspiring finance professional. Soon after finishing college, he started working in the financial industry.
Jackson now works as a financial advisor for New Perspective Wealth Management, offering educational courses in investment strategies, retirement planning, emergency savings, and more. Jackson’s goal is to transform and educate his local community on the importance of financial literacy, particularly within the African American community.
His clients come from all walks of life, including couples on the verge of retirement, families looking for financial security, even his seven-year-old goddaughter, who wanted to start a small soap business.
“I remember explaining to her [my goddaughter] about LLCs, budgeting, and crafting a financial plan. Then I remembered she was only seven, so I had to keep it simple. She grasped the concepts immediately. That’s the approach I take with my clients. Not everyone is a financial expert, so I need to explain relatively complex concepts in a way they can not only understand but also actively pursue.”
One of Jackson’s primary concerns is the fact that nearly two-thirds of Americans cannot pass a financial literacy test. He believes there are three fundamental courses of action we, as a society, can take to increase these numbers:
- Create a mandatory financial literacy course for high school students.
- Offer budget simulations to students, using virtual money to structure and plan a household budget.
- Eliminate fee minimums for financial advisors, as those who often need the most help cannot afford it.
Jackson has authored several successful books, including “Poor Dad, No Dad,” “40 Acres and Some Dividends”, “ATM Life,” and more. You can learn more about Jackson on his website and follow him on LinkedIn or Instagram.
