Financial Freedom… Don’t Spend More Than You Make!

Styron Powers’ favorite earned title is Dad. He is the proud father of a beautiful, intelligent black woman!  

Styron Powers, a former Vice President, Environmental, Health, Safety, and Sustainability Global executive (BP, ExxonMobil, Lockheed Martin, etc.), has led teams in ~30 countries. He took his parents’ mentoring on the power of education to heart and graduated from Harvard University Advanced Management; Rutgers University – MBA; and North Carolina State University BS in Chemical Engineering and Biological Science. 

In 2017, Styron retired from industry and today dedicates his time and investment expertise to assisting his blog readers in achieving financial freedom. He manages his family's multi-million-dollar rental property business and stock investment portfolio with his wife and daughter and authors the financial literacy blog WealthBuildingPowers.com.

While happy to share his finance and investment lessons, he is NOT a licensed financial advisor or planner. Please do not construe suggestions in his blog or today's talk as recommendations for your situation. For individual financial advice, please seek your licensed CPA or financial advisors or, even better, improve your financial literacy. 

Here’s a glimpse of what you’ll learn:

• How Styron educated himself on financial matters

• Why he started his blog

• The importance of delayed gratification and how it helps save money

• What a Roth IRA is

• How planning for the future is a necessary consideration

• How COVID exposed America’s collective lack of savings

• Who Styron sees coming to him for financial help

• Alternate post secondary institutions to consider that don’t incur Ivy League expenses

• That it’s not too late to learn to manage your money

In this episode…

Styron Powers worked in health and safety for some very large corporations. His job, as he put it, was to protect life: the health, wellness, and physical safety of employees. Throughout his career he was able to work in 30 different countries and he met a lot of wonderful people. He also made a lot of friends who would tell him that they’d be working for the rest of their lives and when he asked why, they said they couldn’t afford to retire. That’s when he started reading about US financial management and how poorly many American manage their finances. 

Styron discovered that about 60% of Americans cannot afford a $400 emergency bill - be it car, heating, medical, or any other sudden cost. So he started writing a blog to help Americans understand how he had personally chosen financial freedom and how to achieve it for themselves. He also does coaching and mentorship - though he’s careful to tell folks he’s not a replacement for a licensed financial advisor - and passes forward the insights that financially helped him.

In this episode of What CEOs Talk About, host Martin Hunter and Styron Powers talk about a fundamental path to financial freedom; that of not spending more than you earn. Styron shares how he was raised to value money and instructed to always save a portion of it. He and Martin discuss delayed gratification, really thinking through purchases, and the vital necessity of planning for your future. 

Resources mentioned in this episode:

• URGEO

• Contact email: info@urgeo.com

• Martin Hunter on LinkedIn

• Powers Investments Management, LLC

• Styron Powers on LinkedIn

• Wealth Building Powers on Instagram

• 'The Millionaire Next Door' by Thomas J. Stanley Ph.D. and William D. Danko Ph.D

• Roth IRA

• Suicide Prevention and Crisis Services in BC

• Suicide Prevention and Crisis Services in Canada

• 'The Snowball: Warren Buffett and the Business of Life' by Alice Schroeder

Sponsor for this episode...

Episode sponsors:  STS Capital Partners and Altruvest Charitable Services.

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