Family Income & Wealth Building

A sign of a thriving community is that residents feel confident that their lives will improve, their incomes rise, and their job prospects widen while they are living there. However, achieving economic stability is a process that builds upon itself, and it requires long-term planning and commitment from individuals and families. Economic stability is a combination of adequate income and good financial management behavior. LISC includes the following elements in its definition of economic stability for the low-to-moderate income residents we serve:

  1. Sufficient family income for daily living expenses, to allow for asset accumulation, and to address minor emergencies.
  2. Employment skills that lead to higher paying jobs or a smooth switch to a new job if employment is terminated.
  3. Smart debt, with market-rate interest, that leads to appreciating assets (such as a house) or that can be paid off in a reasonable period of time.
  4. A plan for post-secondary educational opportunities for their children.
  5. Realistic opportunity for retirement at age 65, with income beyond Social Security.
LISC's Family Income and Wealth Building program is designed to connect low-to-moderate income families to the financial and labor market mainstream. The core of LISC's model is offering employment and career services, financial education and coaching, and low-cost financial products that encourage investment and savings.

CONTACT INFORMATION
Program leader photo

Program Director: Seung Kim

Email