Rising consumer costs and widespread financial misinformation are driving attendance for the inaugural “A Wealth of Wisdom” workshop, scheduled for this Saturday from 10 a.m. to 2 p.m. at CARECEN Los Angeles in the Westlake neighborhood. Hosted by The Academy of Financial Education, the free community event offers resources, expert panel discussions, and one-on-one meetings with financial professionals for multigenerational Latino and immigrant families.
Samuel Molina Warns Against Online Financial Myths
Economic pressures surrounding daily expenses like gas and groceries are prompting households to seek out practical guidance, according to Samuel Molina, CEO of The Academy of Financial Education. Molina noted that community members frequently encounter financial myths across digital platforms, particularly regarding debt obligations and investment strategies.
“There’s a lot of misconceptions around debt online,” Molina said, according to ABC7 Los Angeles. “I’ll see folks saying, ‘Hey, if, you know, a debt collector buys your debt, you’re no longer responsible for that.’ That’s not true.”
Molina also cautioned consumers against taking financial cues from social media, pointing out strict regulatory boundaries. “Licensed investment advisors do not provide investment advice on social media,” Molina said, as reported by ABC7 Los Angeles. “They can lose their Series 7, Series 6 license if they do that.”
Targeting Multigenerational Families During Heritage Month
The Saturday workshop coincides with Hispanic and Latin American Heritage Month, intentionally designed to fuel opportunity and financial well-being for immigrant households, multigenerational Latino families, and college-bound Latino students. Organizers emphasize building a functional relationship with personal finances.
“Our mission is for people to have a healthier relationship with money,” Molina told ABC7 Los Angeles. “Whether you think you do or not, you do have a relationship with money, and it’s important that you have control of it, right?”
Participants attending the Westlake seminar can consult with financial experts in a private, low-pressure setting. While registration for the event is free, organizers note that signing up in advance is not strictly required. Attendees will also have opportunities to win raffle prizes throughout the four-hour program.
Worth a look