After
more than two and a half years of struggling with high inflation, financial
analysts are urging Americans to make building a solid nest egg of savings
their top New Year’s resolution. The prolonged period of high inflation has
created severe financial stress for most U.S. households, as they are forced to
pay more for everyday needs like food and housing. Low-income households have
been particularly hard hit.
Despite the economic volatility in 2023, a recent study by USA Today found that more
than four in five Americans feel some level of positivity about the U.S.
economy going into 2024. However, Real Estate Developer, Serial Entrepreneur,
TV Producer and Talk Show Host Dee Brown warns that there are several steps all
households must take to help secure their financial foothold.
According to Brown, securing a financial future should be a
priority for families. To assist with this, Brown recommends the following
three steps:
1. Establishing an Emergency Fund: Setting aside a portion of
income into an emergency fund can provide a safety net for unexpected expenses
and financial hardships.
2. Budgeting and Expense Tracking: Creating a detailed budget
and tracking expenses can help families prioritize spending, identify areas for
saving and avoid unnecessary financial stress.
3. Investing in Retirement Accounts: Contributing to
retirement accounts such as 401(k)s or IRAs can help build long-term financial
security and ensure a comfortable retirement.
READ MORE: How to turn your finances around in the months ahead
By taking these steps, Brown believes that households can
secure their financial future and mitigate the impact of high inflation and
economic volatility.
Dee
Brown is a multifaceted entrepreneur, award-winning producer, director, writer,
author, talk show host and philanthropist. He is the Founder and CEO of the P3
Group Inc., the nation’s largest African American owned, public-private
partnership real estate development firm. Brown has amassed more than 30 years
of solid, record breaking experience in real estate sales and development,
management, construction, infrastructure, water/sewer and environmental
projects in the private and governmental sectors. He also serves as the Founder
and Chairman Emeritus of the nonprofit Brown Foundation Community Development
Corporation.
Brown
holds a bachelor’s degree from the University of Memphis, an MBA from Bethel
University and numerous professional certifications. He is a lifetime member of
Kappa Alpha Psi Fraternity Inc., NAACP, Producers Guild of America, National
Academy of Television, Arts & Sciences, the International Documentary
Association and Entrepreneur Leadership Network. He also serves on the
Documentary and Nonfictional Committee for the Producers Guild of America. As a
contributing writer for Forbes.com, Entrepreneur.com, Metro & Peoria
Magazines, Brown shares his insights and vast business experience with readers
around the world.
He
is also a proud 2023 recipient of President Biden’s Lifetime Achievement Award.
Dee Brown is also the Executive Producer and Director of Tiger Run: The Untold Story. This
highly acclaimed documentary compiles interviews, game footage and other behind
the scenes video of Coach Prime — NFL Legend Deion Sanders — and showcases his
mission to transform the lives of players at Jackson State University at its
annual Pro Day event.
Other articles by HVP News Reporters