Charles Day/ Class 9: Financial Literacy
by Charles Day
223. How would you gauge your level of financial literacy today?
I would gauge my level of literacy as pretty well, considering the fact that in my previous lifestyle and for a pretty significant amount of time, I ran a multi-million dollar corp. without a computer and from every where from wholesale to retail, statistical demographics in competition, and greater necessity for product etc.. I apply these same skills to the reverential servitude of my God and Father and His will in every area of my life now to be lived in bringing Him glory.
224. To what extent would you suppose that financial literacy relates to your probability for success upon release?
225. What opportunities exist for prisoners to improve their financial literacy?
In most places that I have been to during this journey, opportunities vary. However there is opportunity everywhere, from books to persons of financier backgrounds, bankers, investors, etc… I would have to say that it is a person by person case. The individual has to have the desire and ambition to want to learn those things to benefit his or her chances of success upon release
226. How would you summarize the total costs of your imprisonment?
I would summarize it thus, on my end, I could have made more money working legitimately than I did the whole time my previous lifestyle for the amount of time I have done thus far in prison. In comparison of costs in it’s totality, in the millions easily, and legitimately.
227. Describe ways in which in an understanding of the stock market may help you value investment opportunities.
This would give one the ability to understand what is taking place in the area in which they are seeking to be succesful in or investing into. So long as this is what that person is pursuing in their bettering themselves and their concept of acheiving success. This varies per individual.
228. How would improving skills to analyze the fundamentals of a particular stock lead to becoming a better small businessman?
This would be an essential asset, for by understanding these concepts and principles, one can come to the knowledge of whether or not what he or she is pursuing can in fact be a success or is even a necessity of great enough proportion that would deem it worthy of pursuit, or investment.
229. Describe the level of thought you are giving to your financial future.
I have been giving much thought to this, which is why I have been striving to find out, and come along side resources that have the same heart and aspirations that I do, to put together the program that has been instilled in our hearts. A breif view of what this program consists of will be able to be viewed on the site soon. It is geared toward at-risk and troubled youth.
230. Describe the level of preparations you are making to prepare for retirement.
The objective that I spoke of in question 229, this is not an aspiration that I would see myself desiring to retire from, however, I may at some point and fully believe that what has begun with this goal thus far, will not only result in retirement at some point, but also provide a legacy for my daughter, Anissa, and wife and children to come as well.
231. In what ways would an understanding of the U.S. tax code contribute to your preparations for release?
Alot of individuals that I have come across, especially in this level of security, are here for white collar tax cases. Alot of whom are not only big corporation heads, but also small business or franchise men, who really are under the impression that they did not endeavor into any illegal activity. This leads me to believe that understanding to some extent the U.S. Tax code may be beneficial to my preparation to release and or success.
232. What is your understanding of entrepreneurship?
My understanding of Entrepreneurship, is an individual who has an aspiration or dream and strives to learn all that he can in order to bring what is driving him in that area into fruition. He must be resourceful and learn to communicate so that he could convey these things to others that may be able to come along side him in the journey that he sets out on. The more he knows and learns, the more real it becomes, and the possibility of its’ success will be in view.
233. What would you attribute as a primary reason for business failures in the United States, and why?
From what I have seen and experienced, even as a small landscape business partner, is that the lack of understanding in the area one is seeking success in, if it is not researched on a continual basis then it is subject to losing appeal and keeping up with competition in the same line of work. Understanding the field one is in, as well as its’ resources, relative businesses, contracts, marketing strategies, etc… play a big part in whether or not any business will fail or succeed.
234. If you were going to run your life as a business, how would you describe your preparation to succeed?
Well in my previous life, I was very successful, all the way up into the point where I became incarcerated. I apply these same aspects to the aspirations and goals I strive to accomplish each day in emerging from these circumstances successful in the area I am aiming to succeed in. The same principles apply. Determination, goal setting, seeing the lite at the end of the tunnel, and gathering the resources to accomplish what you are setting out to do, these are all preparation toward success in any one persons journey to success, but also, very important, God is a necessity to be at the center of any ones goals or aspirations, as the Word says, ” apart from God you can do nothing “.
235. What resources do you have available to you now?
Resources that I have available to me now are what is needed to fully see the objective through that those have come along side me with the same goals, are setting out to accomplish. Everything that is needed, from financial to property, all is being put together as each opportunity becomes available. Most of all preparation key, due to the limitations these circumstances provide in some areas.
236. What potential markets exist for you?
The markets that exist range all the way from at-risk youth in the streets, to those who are troubled coming out of homes and need assistance to those in foster care. In these areas alone and the statistics for these youth, the abilities to reach are on such a mass scale that it makes one wonder why we do not see alot more assistance in these areas already. Of course this program that is being developed is faith based and Christ centered. It will be posted soon.
237. What level of resources do you anticipate having on the day of your release?
Resources I anticipate having upon release are without measure, and very extensive. The men and women that have come along side in this endeavor are of the same heart and mind as I and desire to see these youth impacted and lives changed, becoming fruitful young men and women and productive in society. The resources I anticipate have this same vision in mind as well.
238. What level of earnings do you project during your first three years after your release?
See, I know that one needs to have and be able to make a living. One thing however that I have learned is how to do without, or be content with what I have, especially throughout these conditions. Although I have learned this, I also desire to leave a successful legacy for my daughter and family to be. So is money important, yeah. A guy once told me, ” Charlie, do you want money, and I said it is not a driving force for me, and he said what would you do with alot of money, and I said help others less fortunate, and he said then in order for Charlie to do that, Charlie needs alot of money”. I see his point, and I expect GOD to honor what He has set out to do in and through me with the rewards that follow. All in all, it is to and for Him that He be glorified in ALL of it.
239. What level of earnings do you project during your first decade after your release?
Earnings I expect to make within the first decade of release are anywhere between forty to fifty thousand a year for the first couple of years. The next few years maybe fifty to seventy thousand a year, and maybe even between seventy to eighty thousand a year by the end of my first decade.
240. What action steps can you begin taking to increase your financial literacy?
I can and have begun these steps by obtaining relationships with those who are already literate in these areas and can show me also, through examples and mentorship, as I come along side them. These men are and have been extremely successful in their specific arenas of business. Thus I am sensible to acknowledge that they did not get to where they are at in those places because they did not know what they were doing. However I am also very cautious as to who I socialize with in these circumstances.
241. What relationship do academic credentials have to enhancing financial literacy?
I feel that a large part of this determines on the field one wishes to go in to. Never the less, the knowledge alone is good to have, but it is also needed more so in some areas then others. Academic credentials alone are credible toward any individual, especially coming from these circumstances.
242. In what ways would fluency with mathematical concepts and equations enhance your potential earning power or opportunities upon release?
Again, I think that this determines on where a person is expecting to gear his or her success toward. I stand on the principle that regardless of where a person is headed, and the amount of academic schooling they obtain, with out proper motives and intentions for what and why they are pursuing what they are, it will by no means last. I not only desire what is pursued to be fruitful while I am here, but also when I am gone, and to have the same treasures being built here on earth, even more so in heaven.
243. In what ways would developing your skill with regard to reading, writing, and speaking enhance your potential earning power or opportunities upon release?
See 241 and 242
244. Describe the types of books that might broaden your financial literacy and thus help you prepare for success upon release?
In all honesty, for myself, probably ” mathematics, algebra, geometry for dummies”. Those books have deemed themselves worthy of helping those with difficulties in understanding mathematic concepts or any other area, as reliable to help comprehend. Also in regard to my previous lifestyle, in certain mathematical, book keeping and numbers areas, I am relatively great. In regard to writing, through my college education in Seminary, and now pursuing my B.A. as well, I am required to write two ten page papers a month, with proper citations and punctuation. Through these papers, my writing skills only continues to excel.
245. What resources will you rely upon to make financial decisions in your future?
I will rely upon not only my own abilities, but also seek the wisdom from those more seasoned and experienced that are around me. The Bible says, ” In the multitude of counselors, wise decisions are made”, thus I would be ignorant to attempt to make these decisions on my own. This applies not only to the success in the aspirations I and others have set to achieve, but also in the home with spouse and so on.
246. To what extent do you anticipate investment decisions having a role in your future?
A great deal, as I often refer to the experience I have obtained in my previous lifestyle, some of the same principles apply. As then, even more so now in doing Gods will and purpose He has for my life, He has not given me a narrow vision, but one that has the ability to be nation wide, even worldwide, yet it starts on a small scale, as a mustard seed, its end result is enormously bigger than what was expected from those what knew what was planted.
247. Describe the resources you anticipate relying upon as you advance in age.
As with pretty much any great endeavor or organizaton one may begin on, and see it come into fruition. He or she is only able to lead and run it for a time. Through out this time, persons, reliable, loyal and trust worthy, ought to be being brought along side these persons running what was begun, in order that they might one day run things themselves. Training up leaders to lead the legacy one intends to build and leave behind. These resources will, God willing, be my daughter and family to be.
248. What role will these resources play in sustaining your life?
They will be those closest to me. They will be those whom the Lord has laid on my heart and put into my life, that rely upon Him as I do, and trust Him as I do. Their role is essential, for as I stated before, apart from HIM, one can do anything. These resources, people will have to have had come to that reality.
249. How will you adjust your tolerance for risk as you age?
Take it how it comes, seek God first, keep HIM first in ALL of it, and rely upon HIM. He says, ” He who has begun a good work in you, will complete it”. I will adjust in the direction He leads me in, and discern what is of my own intentions and what are of His, so that I can be certain of His being glorified, not myself. He will sustain me and the aspiration He has set out to complete in my heart.
250. What influence would another problem with the criminal justice system have upon your financial stability?
There would be no influence. For me, another problem as this means twenty years minimum, that is without a charge against me. For myself and my family, this is the only way, and it is the LORD that will keep me and sustain me, as He has done throughout this entire term I have served now, and each day He continues to do as He has promised for me.