045: Financial Literacy & Life Insurance – W/ Dr. Martin Kwende & Mr. Mark Stewart

A New Year always signifies a new start. That usually means new year resolutions and promises to cultivate new habits. Being financially stable always falls amongst the most popular New Year resolutions and that shouldn’t be surprising. Financial freedom is typically the ultimate goal in everyone’s life but not many people know how to achieve this goal; especially not in our African community. You will be surprised at how much information is being made available to us to help sort out our finances, but we tend to not take advantage of that.   As a new parent, I have grown very fond of making sure that the finances of me and mine are set for life. They say knowledge is power, and that is why I have here with me Dr. Martin Kwende (featuring Mr. Mark Stewart) to provide us with helpful information on how to attain generational wealth and financial freedom.   GUEST BIO:   Dr. Martin Kwende, PhD, MBA is a visionary, business owner, entrepreneur and financial professional.  Dr. Kwende was a medical device industry executive, and spent over twenty years in the design and manufacturing of products that go into people.  Dr. Kwende has spent over 7 years in the financial services industry, and has built a fast-growing multi-million dollar business.  He is a God-fearing father and husband, and lives in Silicon Valley, CA. Things You Will Learn in This Episode:  [00:01 – 08:00] Introduction Introducing the guest - Dr. Martin Kwende & Mr. Mark Stewart [08:00 – 17:00] Our Guests History with Wealth Mr. Mark Stewart history with wealth  Dr. Martin Kwende's gives his history with wealth The definition of wealth and what it means [17:00 – 35:00] What is Financial Literacy Understanding financial literacy What we need to do to build wealth Having assets and multiple streams of income Dr. Martin Kwende shares a personal story [35:00 – 50:00] Talking about Generational Wealth Options to building generational wealth How to invest in assets you can transfer to the next generation How to prepare for a better retirement Understanding 4O1K and Retirement Plans [50:00 – 1:11:00] Let's Talk About Life Insurance Understanding life insurance The types of life insurance How much life insurance do you need? Life Insurance in Africa [1:11:00 – 1:23:00] The Importance of Writing a Will Understanding will & you need one Protecting your family and loved ones The popularity of GoFundMe's for funerals [1:23:00 – 1:29:00] Final Discussions Action steps to wealth creation Let's get involved in our finances Dr. Martin Kwende talks about the impact of the Living African Podcast Final words from Dr. Martin Kwende Final words from Anyoh   Tweetable Quotes: “The way I define wealth is by the “5 F’s” - Faith, Family, Finance, Fitness and Fun. If you are wealthy, then you have a good balance in those five key areas of life.” - Dr. Martin Kwende “Growing up in Africa, our ideology of “wealth” is if you have a nice car or a big house and I believe a lot of Africans bring that ideology to the diaspora and end up living above their means.” - Anyoh Fombad   LEAVE A REVIEW and tell us what you think about the episode so we can continue putting out the best content just for you! Connect with Dr. Martin Kwende, PhD, MBA: Chief Executive Officer (CEO) - World Financial Group 2221 Oakland Road, Suite 100 / San Jose, CA 95131 Cell: 707-235-6439 / eFax: 408-824-1440 Email: [email protected] / Instagram: @DrMKwende Connect with Living African Podcast You can connect with us on Facebook, Instagram, YouTube, Twitter, or send us an email at [email protected]. Check out our website www.livingafricanpodcast.com for more resources and to learn more. You can connect with Anyoh on Facebook (@anyohf), Instagram (@anyohfombad), and Twitter (@anyohfombad).