Financial Tips: She educates listeners on financial literacy, wealth building, and investment strategies.

Two-time Emmy and three-time NAACP Image Award-winning television Executive Producer Rushion McDonald interviewed Sonia Balfour-Fears.

🎯 Purpose of the Interview

The interview aims to:

Educate listeners on financial literacy, wealth building, and investment strategies.
Address the Black wealth gap and how to close it through education and discipline.
Encourage people of all ages and income levels to begin their financial journey.
Highlight Sonia’s unique role as a financial advisor and Global Sports & Entertainment Director at Morgan Stanley.

🔑 Key Takeaways 1. Understanding the Black Wealth Gap

Closing the gap starts with education, access, and discipline.
Financial literacy must be taught early and consistently, especially in underserved communities.
Sonia emphasizes engaging youth and promoting intentional financial planning.

2. Mother-Daughter Wealth Management Team

Sonia and her daughter formed the first African-American mother-daughter wealth management team at Merrill Lynch.
Their generational approach showed that both young and older clients seek guidance, though their goals may differ.

3. Starting Small Is Okay

You don’t need $1 million to begin investing.
Start with savings, build an emergency fund, then invest.
Emergency fund rule:
- Single: 6 months of expenses
- Couple: 3 months of expenses

4. Investment Strategy

Focus on long-term investing, not chasing “hot stocks.”
Diversification is key—consider S&P 500 index funds over individual stocks.
Risk tolerance matters:
- Aggressive = 100% equities
- Conservative = more fixed income (bonds)

5. Cryptocurrency & Caution

Morgan Stanley offers Bitcoin only to accredited investors with \$1M+ in assets.
High risk means it’s not suitable for retirement funds or small investors.

6. It’s Never Too Late to Start

A caller in her 60s asked if it was too late to invest—Sonia said absolutely not.
With life expectancy into the 90s, there’s still time to build wealth.

7. Dividends vs. Bonds

Dividend-paying stocks now often yield more income than traditional bonds.
They’re a smart option for generating income in today’s market.

🗣️ Notable Quotes

“Education is the greatest component to increase the Black dollar.”
“Discipline is key—just like waking up early or exercising daily.”
“Start where you are. If it’s $100 a month, start there.”
“It’s never too late. If you’re 60, you still have 30 years to invest.”
“Don’t chase hot stocks. Invest when the market is down, not at all-time highs.”
“Risk tolerance is like gambling—are you on the penny slots or betting it all on black?”

👤 About Sonia Balfour-Fears

Financial Advisor and Global Sports & Entertainment Director at Morgan Stanley.
One of fewer than 2% of Morgan Stanley advisors with this designation.
Advocate for financial literacy, especially in Black communities.
Pioneer of the first African-American mother-daughter wealth management team.

#SHMS #STRAW #BEST

Support the show: https://www.steveharveyfm.com/

See omnystudio.com/listener for privacy information.

Upptäck Premium

Prova 14 dagar kostnadsfritt

Skaffa Premium

Avsnitt(3906)

FULL SHOW: Overheard At The Holiday Party, Strawberry Letter: My Holy Lover's Double Life - 12.17.25

17 Dec 1h 32min

FULL SHOW: Things Steve Hates, Strawberry Letter: I Can Tell By the Smell - 12.16.25

The Steve Harvey Morning Show for Tuesday December 16th, 2025: Steve Harvey's Morning Inspiration | Show Open | Nephew Tommy's Run That Prank Back - "Church Gospel Quiz" | Ask The CLO | Things Steve Hates | Would You Rather | Who Most Likely on the Show | Nephew Tommy's Prank - "Your Wife is Having a Black Baby" | Strawberry Letter - "I Can Tell by the Smell" Parts 1-2 | What Puts You in the Christmas Spirit | Social Media Advice | Did You Follow Your Childhood Dreams | Would You Rather | Steve Harvey's Closing RemarksSupport the show: https://www.steveharveyfm.com/See omnystudio.com/listener for privacy information.

16 Dec 1h 30min

FULL SHOW: Best Places to Find a Christmas Boo, Strawberry Letter: She’s Getting More From Him Than Money - 12.15.25

15 Dec 1h 30min

FULL SHOW: Last Date to Break Up Before the Holidays, Strawberry Letter: So What I Burned a Few Things - 12.12.25

The Steve Harvey Morning Show for Friday, December 12th, 2025: Steve Harvey's Morning Inspiration | Show Open | Nephew Tommy's Run That Prank Back - "Surrogate Mother" | Ask The CLO | What Workers Look Forward to Over the Holidays | Last Date to Break Before the Holidays| Nephew Tommy's Prank - "Diva Lounge" | Strawberry Letter - "So What I Burned a Few Things" Parts 1-2 | Who Are You Gonna Regret Inviting Over for the Holidays | Social Media Advice | Eat Out or Shopping | Would You Rather | Closing RemarksSupport the show: https://www.steveharveyfm.com/See omnystudio.com/listener for privacy information.

12 Dec 1h 30min

FULL SHOW: 85 South, Favorite Christmas Movies, Strawberry Letter: He Needs New Underwear - 12.11.25

11 Dec 1h 30min

FULL SHOW: Prison Surf & Turf, Strawberry Letter: I'm Not Going This Year - 12.10.25

10 Dec 1h 32min

FULL SHOW: Cash For Christmas, Strawberry Letter: He Doesn't Know Me In Public - 12.09.25

9 Dec 1h 32min

FULL SHOW: Sista O'Dell, Strawberry Letter: I Know My Man's Hands - 12.08.25

8 Dec 1h 32min

Allt en och samma app

Lyssna på dina favoritpoddar och ljudböcker på ett och samma ställe.

Noga utvalt innehåll

Njut av handplockade tips som passar din smak – utan ändlöst scrollande.

Fortsätt när du vill

Fortsätt lyssna där du slutade – även offline.

Premium

99 kr/ månad

Tillgång till alla Premium-poddar
Reklamfritt premium-innehåll
Avsluta när du vill

Prova 14 dagar gratis

Premium

129 kr/ månad

Tillgång till alla Premium-poddar
Reklamfritt premium-innehåll
Avsluta när du vill
Ett extra konto

Prova 14 dagar gratis

Populärt inom Komedi

Berättelserna och rösterna du älskar att lyssna på

Obegränsad lyssning på alla dina favoritpoddar och ljudböcker

Upptäck Premium