Nashville Mayor Megan Barry presented her newly formed Economic Inclusion Advisory Committee to be co-chaired by former Tennessee Titan Eddie George and Shawn Joseph Ph.D., director of Metro Nashville Public Schools. The committee has been tasked with promoting financial inclusion and literacy.
“Empowering our residents with the tools necessary to improve their lives is a key focus of my administration,” the Mayor said during a Sept. 29 press conference. “Financial inclusion means all Nashvillians have the ability to take charge of their finances.”
The focus of the Committee will be to determine and develop a “Nashville Vision” that provides a comprehensive approach that empowers low and moderate income Nashvillians towards financial inclusion. The Committee will consist of three subcommittee working groups focused on the issues of financial literacy, financial empowerment, and financial capability.
“Throughout my career in the NFL and as an entrepreneur, I’ve known fellow players and colleagues who lost millions because they didn’t have a deep enough understanding of their finances to plan for their futures,” said George, who now serves as managing partner of Edward George Wealth Management Group. “We need to make sure everyone has access to the services and programs necessary to invest now in their future in a way that will lead to a better quality of life.”
During the press conference, Barry and the Economic Inclusion Advisory Committee also accepted a generous donation of $30,000 from Voya Retirement CEO Charlie Nelson. The donation will help to fund financial empowerment for Nashville residents through the Mayor’s Financial Empowerment Center, Nelson confirmed.
“The earlier someone starts planning for retirement, the more likely they are to live a more enjoyable and comfortable life in their golden years,” said Nelson. “At Voya Financial, we fully support and appreciate Mayor Barry and the FEC’s efforts to empower residents to make better decisions for their future and their families.”
The committee will meet over the next nine months to produce a report of recommendations for Barry by the end of 2017, which will help to guide the city’s financial empowerment efforts.