Money Saving Tips: Her book provides practical strategies for saving, investing, and overcoming financial biases.
The Steve Harvey Morning Show
iHeartPodcasts
4.5 • 2.2K Ratings
🗓️ 20 September 2025
⏱️ 26 minutes
🧾️ Download transcript
Summary
Two-time Emmy and Three-time NAACP Image Award-winning, television Executive Producer Rushion McDonald interviewed Anne Lester.
A financial expert and former head of retirement solutions at J.P. Morgan Asset Management. The discussion focused on saving strategies, financial psychology, and overcoming behavioral biases to achieve long-term financial success.
🔑 Key Themes & Highlights
Overcoming Financial Mistakes
- Lester shared that despite managing billions in assets, she made every financial mistake possible early in her career.
- Her book, Your Best Financial Life, combines 30 years of asset management experience with lessons from her own financial missteps.
Saving Strategies & Behavioral Hacks
- She emphasized that saving is possible at any age, but requires commitment and planning.
- A key strategy: Save at least half of every raise to prevent lifestyle inflation.
Emergency Funds & Smart Spending
- Lester advised building an emergency fund of 3-6 months’ expenses before investing.
- She outlined three questions to ask before tapping into emergency savings:
- Is this truly an emergency?
- Do I absolutely need to spend this money?
- Do I need to spend it right now?
Subscription Detox & Hidden Expenses
- Many people unknowingly overspend on subscriptions, leading to financial waste.
- Lester recommended avoiding auto-renewals, using a credit card with an upcoming expiration date, and rotating streaming services to cut costs.
Investing vs. Traditional Savings
- She clarified that long-term savings should be invested, not kept in low-interest accounts.
- Retirement funds should be diversified across stocks and bonds for growth.
📘 About Anne Lester
Anne Lester is a financial strategist, speaker, and author, known for her expertise in retirement planning and behavioral finance. She spent over 30 years at J.P. Morgan Asset Management, leading retirement solutions and helping individuals build financial security.
Her book, Your Best Financial Life, provides practical strategies for saving, investing, and overcoming financial biases.
#STRAW
#BEST
#SHMS
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Transcript
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| 0:00.0 | This is an IHeart podcast. |
| 0:04.6 | Hi, I'm Roshan McDonnell. |
| 0:06.4 | I host the weekly Money Making Conversation Masterclass show. |
| 0:09.4 | The interviews and information that this show provides are for everyone. |
| 0:12.9 | It's time to stop reading other people's success stories and start living your own. |
| 0:17.4 | If you want to be a guest on my show, please visit our website, Moneymakingconversations.com, |
| 0:23.5 | and click the be a guest button. Press submit and the information will come directly to me. |
| 0:28.7 | Now let's get this show started. My next guest is one of the leading people in the financial |
| 0:34.8 | market. We're going to get into detail about her, |
| 0:39.7 | but her new book helps younger savers find long-term saving success |
| 0:41.7 | by overcoming their behavioral biases. |
| 0:45.6 | Please welcome the money-making conversation Masterclass, |
| 0:48.0 | Ann Lester. |
| 0:48.8 | How you doing, Ann? |
| 0:50.3 | I'm great. How about you? |
| 0:51.9 | Well, Anne, you know, |
| 0:52.7 | I always tell people when they come on the show, you know, talking all this financial knowledge. I need a little background. I need a little history. What makes Anne so financially smart? Talk to us. |
| 1:04.0 | Oh. Well, I don't know about smart, but I guess I managed billions of other people's money for about 25 years. |
| 1:14.6 | Did it pretty well, according to some folks who gave me some awards for it, Morningstar. |
| 1:20.1 | But the reason I wrote the book, Your Best Financial Life, is because I made every single mistake |
| 1:26.2 | you could make. |
| 1:33.2 | And, you know, it took me a while to figure out how to not make all the mistakes I was making. |
... |
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