Our interest in finances began when we were both adolescents. We both had jobs in our teenage years for extra spending money, but our parents also provided some cash for social activities like restaurants and movies since our school and sports schedules limited work opportunities. Although we both liked spending some of our money for fun and entertainment (especially video games and trading cards), we also grew up understanding the importance of saving so it was common to have cash left over sitting in the bank. Banks used to pay a little interest on cash balances, but it was never enough to feel like the needle was moving.
We’ve read countless articles trying to learn what could be done to build wealth with idle money. Unfortunately, there are no shortage of random ideas and recommendations over the internet. We’ve witnessed numerous articles suggesting that investing in wine was recommended. It’s not that you can’t make money with wine, but most people don’t have the knowledge, time or resources to realistically invest. We continued researching investment products and reading personal finance books to develop a deeper understanding. Further, without knowing the background and interests’ of the individual, it’s like throwing darts to find an asset class someone would be willing to invest in.
How often have you come across another article detailing how terrible the average American is at handling their money? They post about massive bubble of student loans, credit cards, rising car payments, poor saving habits, and how little the average person has in savings or retirement. You don’t have to be a cook to know how bad a recipe that is. However, they all seem to have similar vague recommendations. They usually say to budget, build an emergency fund, pay down debt and save more money to invest in your future. A quick and easy 4 bullet points, right? We decided to start American Wealth Project, LLC to help people take those vague recommendations to the next level by building a program that also teaches how to get those results.
Perhaps most importantly, we love dealing with personal finance and want to spend our time helping anyone, and everyone, have a better understanding of their finances and how to build a better future. Thank you for taking the time to read, and please feel free to reach out to us!