The City of Sacramento is stepping up its game in financial empowerment by providing a new, free service aimed at helping residents secure their financial future. The service, part of the Financial Empowerment Center (FEC), allows locals to get one-on-one advice for legacy planning—creating wills, appointing beneficiaries, and preparing crucial documents like powers of attorney. Essentially, it’s a much-needed assist for folks to protect their hard-won assets and set up their loved ones for the long haul, as per the Sacramento City Express.
According to a scoop by the Sacramento City Express, Amy Williamson, the City’s Financial Empowerment Manager, touts the importance of this program saying, "Every Sacramento resident deserves the peace of mind that comes with planning for the future." Given the revealing statistic that nearly 70% of Americans haven’t taken steps to protect their assets despite owning something valuable, tapping into this service could be a game-changer for many, especially those traditionally cut off from estate planning resources.
Residents in need of guidance can book a free appointment with a certified financial counselor by visiting the FEC website, shooting an email, or by giving them a ring. Providing access isn't just lip service—the counseling is readily available in English and Spanish, and they offer interpretation for a range of other languages.
It's not just about securing the future, but building a financial foundation that can withstand the tests of time and tribulation. Jonathan Mintz, President and CEO of the CFE Fund, underscores this, telling Sacramento City Express, "With the addition of legacy planning services, counselors can also help Sacramentans protect and preserve those assets for future generations." The CFE Fund, a national nonprofit, has been instrumental in setting up the FEC to bolster the financial wellbeing of households across the city.
Since its inauguration in 2020, the Sacramento Financial Empowerment Center, underpinned by a City partnership with the International Rescue Committee (IRC), has been a beacon of hope, providing free expert financial coaching to adults over 18. From budgeting to credit improvement, they’ve steered more than 1,700 individuals towards financial stability. And with legacy planning in their tool belt, they're poised to bolster an even greater number of Sacramento residents, as reported by the Sacramento City Express.
More details about the Financial Empowerment Center and the Cities for Financial Empowerment Fund's broader initiatives can be found on their websites, which offer insight into the elaborate web of financial support available to cities and counties nationwide.
