1. groups
2. investments
3. Sloane Stephens Serves Up Investment Starters

Sloane Stephens Serves Up Investment StartersVideo

Account Id: 4394098893001

Player Id: bb60d070-b695-4c55-9162-a421ad370a53

Video ADA Text: Sloane Stephens Serves Up Investment Starters video

Transcript Browser Title: Video transcript: Sloane Stephens Serves Up Investment Starters video

Description: Tennis star Sloane Stephens sits down with Andrew Hawkins to discuss investments, money moves, and starting down the path toward creating generational wealth. Sloane breaks down her biggest financial goals, explains her approach to making her money work for her, and dives into some societal factors that have prevented Black women from maximizing their financial potential. Check out all of this and more in this episode of Kneading Dough, presented by J.P. Morgan Wealth Management.

English

Video Id: 6269615573001

Audio Description Video Id: 6269618147001

Length (seconds): 667

Transcript: <h2>On Screen:</h2> <p>J.P. Morgan Wealth Management logo.</p> <p>Kneading Dough - J.P. Morgan Wealth Management.</p> <h2>Note:</h2> <p>Legal disclosure appears on the bottom of the screen.</p> <h2>On Screen:</h2> <ul> <li>INVESTMENT AND INSURANCE PRODUCTS:</li> <li>NOT A DEPOSIT</li> <li>NOT FDIC INSURED</li> <li>NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY</li> <li>NO BANK GUARANTEE</li> <li>MAY LOSE VALUE</li> </ul> <p>Views and opinions are those of a third party speaker and may differ from J.P. Morgan Wealth Management, its affiliates and employees. Content is for informational purposes only and is not a recommendation or solicitation.</p> <p>This ad was made in accordance with COVID-19 safety measures.</p> <p>Please wear a face covering when visiting a Chase branch.</p> <h2>Sloane:</h2> <p>I would love to see more black women interested in investing because black women are so smart, so brilliant, and they just don't know what they can do in the stock market and with investing. And I would love to help people invest. Not help; let me back that up. Not help them invest, but show them, like, &quot;Hey, this is a space for you, and you're accepted here, and you're not the only one.&quot;</p> <h2>Note:</h2> <p>Kneading Dough intro music starts playing.</p> <h2>On Screen;</h2> <p>Kneading Dough intro animation begins.</p> <h2>On Screen:</h2> <p>J.P. Morgan Wealth Management an UNINTERRUPTED original hosted by Andrew Hawkins</p> <p>Featuring Sloane Stephens.</p> <p>UNINTERRUPTED and J.P. Morgan Wealth Management</p> <p>Kneading Dough</p> <h2>On Screen:</h2> <p>Andrew Hawkins a.k.a. “Hawk” sits in a wood paneled room with a ‘Kneading Dough’ sign on the wall. He is wearing a black sweater and white shirt, conducting a zoom interview over the internet. He looks directly to camera while speaking to Sloane Stephens.</p> <p>Sloane Stephens sits in a brightly lit room on a blush colored arm chair. She is wearing a white sweater and looks directly into the camera as she answers Hawk’s questions.</p> <h2>Hawk:</h2> <p>What's up, everybody. Welcome to Kneading Dough, presented by J.P. Morgan and UNINTERRUPTED. We have superstar Sloane Stephens in the building today, an incredible tennis player, business woman in her own right. And today she's going to chat with us about wealth management and giving us tips for us all to get right. Sloane, what's up? Thanks for joining us.</p> <h2>Sloane:</h2> <p>Hi. Thanks for having me.</p> <h2>Hawk:</h2> <p>Learning the process of investing in your finances and financial stability is tough. The first step is just to get information. And it's really not as complicated as it seems on the outset. It's just a matter of starting the process. So what would your advice be to people who feel that way?</p> <h2>Sloane:</h2> <p>Yeah, I feel like starting the process is the most important part. Because I feel like when you go to a bank, or there's anyone that you can go to for financial help, if you ask for help, they can help you. But if you just sit at home and you don't ever ask, and you're like, &quot;Oh, it'll take care of itself,&quot; it's not going to work. You actually have to be invested in yourself</p> <h2>On Screen:</h2> <p>A graphic enters into frame and shrinks Sloane down in the frame, the color desaturates to black and white. The graphic says: “You have to be invested in yourself to be invested in your money.”</p> <h2>Sloane:</h2> <p>(continues) enough to then be invested in your money, and I feel like a lot of people just don't take the first step. But the first step is so easy. I think it's so important to like really pay attention to your finances, because the generation gap and the generational wealth, it really ... You can support so many groups of people with doing very little, if you just pay attention.</p> <h2>Hawk:</h2> <p>Besides investing, or including investing, what are your financial priorities right now? Where are you at now, where you're like, &quot;Hey, these are the things that I'm focused on with my finances at this stage in my life&quot;?</p> <h2>Sloane:</h2> <p>So for me, my biggest thing is, now, when I started saving money ... When I got my first big check after I won the US Open, that was obviously the most amount of money I've ever gotten at one time. When that direct deposit hit, I was like, &quot;Oh my God, I'm rich.&quot; But I really wasn't that rich. Compared to a lot of people, I wasn't that rich but I was like, &quot;Wow! This is so cool.&quot; Like, &quot;Wow!&quot; It was very exciting.</p> <p>But I set up a plan to save a certain amount of money by the time by 20, 25. I'm over 50% of my goal of what I want to have saved by the time I retire so, for me, that's a good step. Obviously I had to learn about what your money does when you put it in the bank account. I had to calculate all of the money I would be able to spend when I retired, what I could live off for every year if I saved this amount of money, and if I fell short, if I went over, what my spending every year could be. We really calculated it down to a tee of what my expenses are, and what I pay for now, and all of these things. And my main financial goal is to obviously fulfill my goal of reaching, so I can live a comfortable life. Obviously, if I retire today, I would be totally fine. But in tennis, all of your expenses are my own. So all of my flights, all of my hotels, all of my coaching, all of my fitness, everything is on me. I won't have those expenses when I retire, obviously, but I plan to have kids.</p> <p> All of these things ... It changes from my sport, and my lifestyle, to family, and travel, and experiences, and all those things, and I want to be able to save enough money to be able to do all of those things without any restrictions. So right now my biggest goal is to reach the goal of financial freedom, I would say, for myself, so that when I retire, I can live freely.</p> <h2>Hawk:</h2> <p>Live the fruits of your labor. I love it.</p> <h2>Sloane:</h2> <p>Yeah.</p> <h2>Hawk:</h2> <p>Okay. So when you're investing, what are the things you're apprehensive about?</p> <h2>Sloane:</h2> <p>Oh, what am I ... Well that I'm going to lose all my money-</p> <h2>Hawk:</h2> <p>That's natural.</p> <h2>Sloane:</h2> <p>... In whatever it is I invested in. That's probably the first thing. And I don't pick things based on, &quot;Oh, that looks cool,&quot; but I don't really know anything about it. I always try to do a deep dive. But I would say the biggest thing I always, is ... No one ever wants to lose their money but, like I told you before, I want to make sure that I'm aligned with the company and the people before I do anything else.</p> <h2>Hawk:</h2> <p>I love that. I mean, wrapping my mind around the concept of risk was a very big thing, as far as managing wealth. Because I think for a lot of people, when you come up under certain situations, it's like, &quot;Oh, once you get something, you want to hold on to it.&quot; Which is smart once you are taking the time to educate yourself and learn as much as possible before you start getting your feet wet, but the turning point for me was when I realized I was also risking what I have by not making my money work for me. Because the opportunity there, it's the same thing. Right? You want to put your money to work. You want to start learning that process and put yourself in position. We talked about it earlier on: Now can you see yourself doing things differently than you did back then?</p> <h2>Sloane:</h2> <p>Yeah, definitely. My first investment was like significant investment, I would say. I bought a house, I bought a condo, and my Uncle Ronald was like, &quot;You should buy a house. You should buy somewhere you can live on your own. You can practice. You can train. You can have some independence. You'll like it,&quot; whatever, and that was my first big investment.</p> <p>I'm just that person who listened, like, &quot;Hey, you should do this because in five years it'll be worth this,&quot; or, &quot;When you move out and you get a bigger house, you can rent it and have passive income,&quot; whatever it may be. I feel like listening, and being open to investments, and having other people that have gone through it that can show you, &quot;Hey, now I don't live there, but I make rental income.&quot;</p> <h2>Hawk:</h2> <p>What advice do you have to younger women, black women specifically, that want to get their feet wet with investing?</p> <h2>Sloane:</h2> <p>I say you have to go for it.</p> <h2>On Screen:</h2> <p>A graphic enters into frame and shrinks Sloane down in the frame, the color desaturates to black and white. The graphic says: “You have to go for it.”</p> <p> </p> <h2>Sloane:</h2> <p>(continued) It’s so intimidating, and I know it is, but you literally just have to be like, &quot;I'm going to start small. I'm going to find someone to invest with.&quot; Or find a partner. I always like to say you need an accountability partner in everything that you do. And I feel like very small investments, or very small seminars, or things that you can just listen to other people invest and how they've gone through it, or what they've done, or who they invested with, or maybe the people that they use, I feel like that's really important before you just jump in, obviously. Because the stock market is very crazy and hectic.</p> <p> </p> <p>So I feel like whatever it is that you do, know what you're doing before. Make sure you do all your research, but you have to just dive in. People are so intimidated and scared of the stock market and losing money. And you should be afraid to lose your money because the stock market is a scary place. But if you do it the right way, you'll have a good experience, and then you'll tell your friends, and then you'll tell your other friends. And then as you invest and do things, you'll learn from other people. You'll learn how it goes. You'll understand the market more, and then you can educate others on what you've learned and how you can help others. And I feel like whenever somebody asks me, I'm like, &quot;Yeah, you should use this person,&quot; or, &quot;You should go here because they have really great seminars, and they teach you stuff, and you learn more.&quot;</p> <p>And I feel like being a black woman, and investing, and being very interested in it, I see that there's not very many people that look like me that are super interested in it. And I would love to see more black women interested in investing</p> <h2>On Screen:</h2> <p>A graphic enters into frame and shrinks Sloane down in the frame, the color desaturates to black and white. The graphic says:“I would love to see more black women interested in investing”</p> <p> </p> <h2>Sloane:</h2> <p>(Continued) because black women are so smart, so brilliant, and they just don't know what they can do in the stock market and with investing. And I feel like it's an empty space, and there's so much room for growth. And I would love to help people invest. Not help; let me back that up. Not help them invest, but show them, like, &quot;Hey, this is a space for you, and you're accepted here, and you're not the only one.&quot;</p> <p> </p> <p>And I feel like that's a really cool thing, but I wish more people would just take that leap and be like, &quot;I'm just going to try it.&quot;</p> <h2>Hawk:</h2> <p>Tell us about this generous birthday present you got last year. And give us this entire story, because this is wild.</p> <h2>Sloane:</h2> <p>I turned 27 last year. And my birthday present was ... Well I won't tell you the whole thing. But like I came out, and there was a table full of all of these gadgets and trinkets and things.</p> <p>Mind you, this gift is from my fiance. So he knows everything that I love and all of the things that I am obsessed with.</p> <p>So long story short, I got all of my favorite things, but he bought them for me in stocks. Which is so interesting because I never paid attention to my day-to-day stocks and how they were going up and down. And in the pandemic, I was looking at it every single day, like, &quot;Okay, what's happening now? Why is it going up? Why is it going down? Why are certain stores doing way better than others?&quot; and just random stuff. But I just felt like it was such a good gift because it honestly made me pay attention more to the stock market and what was happening every day. Like on your phone, you look at like the S&amp;P, you look at all these things, it really means nothing to you. I would just be like, &quot;Is it red today, or is it green today?&quot; That's all I knew about it in the past. So when I got this birthday gift, it was like a real ... I could study it.</p> <h2>Hawk:</h2> <p>Now when you re-signed with your first endorsement partner, you did things a little different the second time around. What was that?</p> <h2>Sloane:</h2> <p>Yeah. It was so interesting because I was just learning about contracts, and how they work, and what you can do to make contracts different, and all of this stuff. And my first big deal was that I got stock in the company, and I thought that was the coolest thing because I wasn't really that invested and I didn't know much about stocks and whatever. But I just knew that &quot;Okay. If I know anything, I know that a lot of people do this, and at the end of it they make a lot of money.&quot; So I was like, &quot;I'm with this. So I was like, &quot;I totally want this.&quot; And it was actually very interesting because it introduced me to stocks, so it was a fun transition into like the big girl realm.</p> <p>I have done deals that are just straight up brand deals and then, going further, I have attached stocks and investments into it just because I want to be invested. And I feel like there's a longterm partnership with investment, there's a longterm partnership with stocks and all of these things, and it just makes the relationship and the brand grow. And I feel like that's super important, especially now that I've gotten older, and I see the value in those things and the value that I bring to a partnership. So I like to feel like I can expand that and help grow a brand, and that to me is very cool.</p> <h2>On Screen:</h2> <p>Legal disclosure appears on the bottom of the screen.</p> <p>J.P. Morgan Wealth Management is a business of JPMorgan Chase &amp; Co., which offers investment products and services through <strong>J.P. Morgan Securities LLC </strong>(JPMS), a registered broker-dealer and investment advisor, member FINRA and SIPC. Annuities are  made available through Chase Insurance Agency, Inc. (CIA),  a licensed insurance agency, doing business as Chase Insurance Agency Services, Inc. in Florida. Certain custody and other services are provided by JPMorgan Chase Bank, N.A. (JPMCB). JPMS, CIA and JPMCB are affiliated companies under the common control of JPMorgan Chase &amp; Co. Products not available in all states</p> <h2>Hawk:</h2> <p>Sloane, thank you so much for joining us on Kneading Dough. You are the definition of more than an athlete.</p> <h2>Sloane:</h2> <p>Thank you.</p> <h2>Hawk:</h2> <p>I appreciate you joining us here on the show.</p> <h2>Note:</h2> <p>Outro animation begins.</p> <h2>On Screen:</h2> <p>UNINTERRUPTED - J.P. Morgan Wealth Management</p> <p>Kneading Dough</p>

Thumbnail