Victor Ellerbee/ Class 9: Financial Literacy

by Victor Ellerbee

223. How
  would you gauge your level of financial literacy today?

Very good.

224. To what 
extent would you suppose that financial literacy relates to your probability 
for success upon release?

To a large
 extent,  without it your probability for 
success is minimized.

225. What 
opportunities exist for prisoners to improve their financial literacy?

such as classes, newspapers and other mass market literature.

226. How
 would you summarize the total costs of your imprisonment?

It costs $
30-40,000 a year to incarcerate an inmate. 
I can see it in a multitude of things.

Describe ways in which in an understanding of the stock market may help you 
value investment opportunities.

By measuring 
your risk factors in the market having an understanding of basic math all of 
which gives you a better perspective on your investments.

228. How 
would improving skills to analyze the fundamentals of a particular stock lead 
to becoming a better small businessman?

It would be 
like learning anything, start with the basics to establish a foundation then 
build upon that.

Describe the level of thought you are giving to your financial future.

It is hard 
to say in words, the highest priority is given to my financial security.

230. Describe
 the level of preparations you are making to prepare for retirement.

physically started on it but I am currently learning new and innovative ways to 
reach my retirement goals.

231. In what 
ways would an understanding of the U.S. tax code contribute to your 
preparations for release?

 marginal, just learning the basic functions of government is enough to get 
started in the right direction.

232. What is 
your understanding of entrepreneurship?

It is when
 you risk your limited resources on an enterprise with the hope of getting a 

233. What 
would you attribute as a primary reason for business failures in the United
 States, and why?

Lack of
 preparedness, low discipline and loose focus.

234. If you 
were going to run your life as a business, how would you describe your 
preparation to succeed?

Being well 
informed of my business and the environment around it.

235. What 
resources do you have available to you now?

Just myself.

236. What
 potential markets exist for you?


237. What 
level of resources do you anticipate having on the day of your release?

minimal, not enough to make it.

238. What 
level of earnings do you project during your first three years after your 

At least 
$40,000 per year.

239. What 
level of earnings do you project during your first decade after your release?

No less than
$100,000 per year.

240. What
 action steps can you begin taking to increase your financial literacy?

Continue to 
read, study economics and the financial markets.

241. What 
relationship do academic credentials have to enhancing financial literacy? 

A positive 
relation, it shows you’ve learned at least the basic foundation of finance and 
if you have a higher degree such as a graduate or MBA etc, it would show not 
only you have the breath and depth of business but the science of it.

242. In what 
ways would fluency with mathematical concepts and equations enhance your
 potential earning power or opportunities upon release?


243. In what 
ways would developing your skill with regard to reading, writing, and speaking 
enhance your potential earning power or opportunities upon release?


Describe the types of books that might broaden your financial literacy and thus
help you prepare for success upon release?

7 habits of 
highly successful people, various text books and a wide variety of self help

245. What 
resources will you rely upon to make financial decisions in your future?

my own experience and contentions.

246. To what 
extent do you anticipate investment decisions having a role in your future?

Very much so 
because to be ready for the unexpected one must be prepared today.

Describe the resources you anticipate relying upon as you advance in age.

My own hard 
earned resources.

248. What 
role will these resources play in sustaining your life?

100% of my 
life will depend on it.

249. How 
will you adjust your tolerance for risk as you age?

By being
 in formed of the potential risks and preparing for it.

250. What 
influence would another problem with the criminal justice system have upon your
 financial stability?

A negative
 one, it would permanently set me back.

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