Cindy Couyoumjian Discusses the Importance of Financial Literacy

It’s something they don’t teach in schools, but as accomplished certified financial planner Cindy Couyoumjian can tell you, financial literacy is essential for your present and future success.

While the country is in a period of rapid economic growth thanks to new advances in science and technology, as well as growth of big business, only a small percentage of people reap the financial benefits. The country observed the same trend during the first Gilded Age in the late 19th century when the U.S. became a leader in industry that also only benefited the few.

Meanwhile, Cindy Couyoumjian states that the divide between the richest and the poorest is at its widest in history, stressing the importance of making smarter financial decisions as the cost of essential services such as childcare, healthcare, housing and post-secondary education soar and wages stagnate.

The Widening Wealth Gap

Statistics show 1 percent of the world’s population now controls half of the world’s wealth. The rich are getting richer, grabbing up most of the income growth in the years following the U.S. market crash of 2008. Even noted billionaires such as Warren Buffett are sounding the alarm that income inequality has stretched too far.

While it’s true that people living in the modern age enjoy unparalleled communication and conveniences thanks to technological advances, the middle class is hardly benefiting financially from the current growth at all, stuck at a near low for earnings in the past quarter century. Currently, almost 40% of the American population does not believe they could afford an unexpected $400 expense.

Cindy Couyoumjian explains that entrepreneurs in the tech industry are creating huge international companies that don’t require as many employees to run as a factory did in 1870, for example. That means the average person is being left out of equation, while a handful of people accumulate the vast majority of the wealth.

While tech sectors are taking off, at the same time there’s more automation in workplaces and brick-and-mortar retail operations are shrinking due to the rise of online shopping.

Growing job insecurity and lack of savings are putting more pressure on the average person. Meanwhile, Cindy Couyoumjian notes that there’s additional financial pressure on younger generations to try and save money while taking care of their aging parents, who are living longer than ever which requires more money than initially anticipated.

Start Preparing For Retirement Long Before Retirement

A survey from 2018 revealed almost 80 percent of Americans believe that financial literacy is a concern, however the same survey showed almost 60 percent of financial advisors aren’t taking the necessary steps to improve this knowledge within their community. Furthermore, almost half of working Americans do not expect to have enough money to retire comfortably.

Cindy Couyoumjian says that you should drop the notion that your pensions and social security payouts are going to be your safety net after retirement — if you’re lucky enough to retire with financial guidance.

Cindy believes in a future that look uncertain and the American Dream becomes more distant, you need to educate yourself in order to better understand what is at stake. Financial literacy may equip you with a wealth of knowledge to become a well-informed investor because today decisions may define your tomorrow. For more information, visit

Certified Financial Advisor at Cinergy Financial. Advocate for Financial Literacy

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