Dimitry Neyshtadt ChFC is an award-winning Financial Advisor who left behind his “office life” to spend 2019 traveling 25 States in 25 Weeks on the #moneyprotour. Make sure to follow along on Instagram and Youtube!
The third state on the #MoneyProTour is Maryland! I had been to Baltimore before for a financial planning conference in 2015, but that was the most I had been exposed to the state. Well, that and hating the fact that the Baltimore Ravens knocked Tom Brady and the New England Patriots out of the playoffs en route to the Baltimore Ravens’ Second Super Bowl Win in their Franchise.
I drove through southern Delaware and crossed the border into Maryland. I needed to get a haircut and used Yelp to locate Dustin & Pete’s Barbershop in Salisbury, Maryland. Pete did a lot more than just give me a great haircut. His barbershop was a personal museum consisting of hundreds of lunchboxes from the past 50 plus years.
Money Talk at the Barbershop
When you get a haircut, you may usually spend your time talking about the weather, sports teams, entertainment gossip, etc. Not me. I’m Dimitry the Money Pro and I’m talking about money EVERYWHERE I GO!
Right away, the amazing collection of lunchboxes caught my eye. There were hundreds of them, and I know they had to be worth a solid amount of money. Talking to Pete I learned that this collection of his is actually fully insured on his Property & Casualty Insurance Policy.
“We had a guy drive a car through the barbershop front wall a handful of years ago,” Pete told me. “There was a ton of damage done, and dozens of lunchboxes were also destroyed. I filed a claim and was able to get fully reimbursed for all the damage minus my deductible.”
The crash made the newspapers – and Pete has them framed and hanging on his wall. Protecting his assets was something that made a ton of sense, especially since his annual premium was less than $200 per year to protect the lunchboxes.
Street Interviews: Maryland
We heard a great piece of advice in Maryland. “Life is hard. Get a helmet.”
This video below shows some of the powerful perspectives and stories from citizens in Maryland. Hear from a musician playing a gig at a local bar. Newlyweds who just bought a house. A baby boomer with wisdom to share. Check out the video below!
Fun Finance Fact
Maryland has the highest median household income of any state in the USA.
Presenting at Year Up Baltimore to Students and Alums
I’ve had the honor of speaking at a wonderful organization called Year Up since back when I was just starting out as a Financial Advisor in Greater Boston. Year Up helps 18-24 year-olds who are either underemployed or not enrolled in college full-time. Year Up provides them with valuable coaching, training in IT and Finance, and a 6 Month on-the-job Internship. The program lasts a year, and at the end, graduates are educated and trained and often fully employed at an awesome company!
Many students at Year Up come from inner-city neighborhoods, and they are largely made up of African-Americans and children of immigrant families. I was just like them – I was born in Belarus in 1988 and my parents moved to Boston in 1990. The only difference I knew occurred was that my parents were introduced to a financial planner in 1995 who helped them tremendously.
My parents were in their early 40’s with two kids when they first sat down with a Financial Planner. They hadn’t known their ass from their elbow when it came to the American money system. They received coaching, guidance, insight, and a support system that stuck with them up to this day. This allowed me to grow up in a suburb that was very safe and had a great school system. Year Up provided me with an opportunity to give back.
I love giving back. Helping teach others how to optimize their personal finances just like someone else taught my parents. It’s a way for me to ‘pay it forward’ and show my gratitude for the blessings in my life.
At the workshop, we discussed the #PemdasOfMoney and how to build a Financial Plan that can succeed no matter what. The attendees learned about protecting themselves better, building up savings and optimizing bank accounts, and how to tackle the toxic debt while understanding when and where to leverage credit for their benefit.
I was joined by Derrick McLaughlin – a local realtor in Baltimore – who spoke to the attendees about the local neighborhoods, how to get your ducks in a row for homeownership, and case studies of families that he has worked with in his career.
We even had a Year Up Student showcase her entrepreneurial skills as she has created a powerful side-hustle from her baking talents. Aliyah Brockington of Briejai’s Bites & Delights was at Year Up sharing her journey of both working in corporate America and simultaneously launching and growing her business. Those cheesecake slices were delicious! Highly recommend y’all check her out in Baltimore.
#MoneyProHabit — What are your FINANCIAL HABITS?
It really became clear in Maryland that HABITS are a valuable key towards unlocking financial freedom. The Habits that you have with your money make all the difference.
These include the automation and systems that you’ve put in place to keep yourself on top of the ball. For example, do you have automatic transfers set up to save money? Do you have bill-pay set up for automatic deductions? Do you have an automated spending plan allowing you to enjoy your lifestyle while simultaneously crushing your financial goals?
When your financial habits are optimized, it allows you to live with confidence and peace of mind. It allows you to properly handle all of your obligations for today and tomorrow, while still enjoying your journey all along the way.
This is what it means to #BeAMoneyPro and even more information on that can be available by downloading my FREE E-Book. More info available here
