Actor Anthony Anderson joined Yahoo Finance Live to discuss his partnership with Northwestern Mutual, tips for financial planning in 2021, and his experience filming during COVID-19.
SEANA SMITH: We want to get to Reggie Wade, who is standing by with a very special guest. Reggie.
REGGIE WADE: Thank you, Seana. Beloved TV dad and host of "To Tell the Truth," premiering on January 26, Anthony Anderson and his wonderful mom Doris have partnered with Northwestern Mutual to show folks just how easy and approachable financial planning can be. Anthony, thank you so much. Great to have you on Yahoo Finance. Tell us a little bit more about this new partnership.
ANTHONY ANDERSON: Great to be here, too. OK, that's my mama. That's my mama. No, my partnership with Northwestern Mutual was started because growing up in Compton, we didn't have conversations around the dinner table about financial literacy and about financial planning. Because my parents and the family were living paycheck to paycheck.
You know, fortunately, over time, close to 20 years ago, I was able to speak with my first financial advisor and put a plan into place. And now, my mother is 67 years young, and she's speaking to a financial advisor for the first time and putting a financial plan in place, which goes to show that it's never too soon or too late to start. And that's what our partnership is about.
It's not about how much money you have because the plans aren't about money. It's about your lifestyle. It's about preparing for your future and preparing your lifestyle to continue well after you have decided to retire from working or whatnot. And that's where we are. My mother's 67 again and is about to purchase her first home.
And so, it was about learning about financial responsibility. It's more than just a down payment on the home. How do you maintain the home? What are you going to have in the home? What fabrications or finishes are you going to use and have? Lots of questions that my mother never really thought about the answers for until she spoke with Mark, her financial advisor at Northwestern Mutual.
REGGIE WADE: First of all, I have to say, please tell Ms. Doris congratulations. That is outstanding. And I wanted to touch upon-- you talk about growing up, you really didn't think about a lot of financial planning. And we see that a lot in the Black and Brown community, especially during COVID. So many Black and Brown folks have been disproportionately affected. What tips do you have for them during these unprecedented times?
ANTHONY ANDERSON: You know, a lot of people may think that they don't have the capability or knowledge of doing it when we've been doing it our entire lives, not knowing that we were preparing for financial stability.
And it can be as simple as saving up for that loved one's birthday, or better yet, how you know Christmas is going to tax you at the end of the year. Excuse me. So at the beginning of the year, you start putting a little bit aside every week, every month or so, until Christmas comes, so you're not hit over the head, and you're not overextending yourselves for the holiday. That is financial planning.
Now if we just take those simple principles and speak with a financial advisor, someone who can explain to us what tax shelters are, how do we protect our assets, where can we park our wealth to gain more wealth. And when I say wealth, I don't mean millions of dollars. I mean that $1, that $10, that $100 that you may have, because that may be your wealth to you. Where can you park that and have that work for you, as opposed to you working for it?
That's what speaking to a financial advisor is all about. It's not necessarily about money. It's about your lifestyle. And it's about being or positioning yourself so your lifestyle outlives you and you don't outlive your lifestyle.
REGGIE WADE: Thank you. That is so important. Anthony, with season 7 of "Blackish" and "To Tell the Truth" premiering, how has filming this year during a pandemic, how has it been for you as an actor?
ANTHONY ANDERSON: You know, it's been a new learning curve for us all, you know, working through a pandemic. You know, we're tested multiple times a week, sometimes in excess-- I've been tested in excess of six times a week. But it's for our safety. It's for the safety of our coworkers and the safety of our families.
But we have a job to do. We need to be entertained. And like I say, it's been a learning curve for all of us, but we've adjusted to it well. And we are continuing to do what we do best. And that's tell these authentic stories through the lens of the Johnson family.
REGGIE WADE: Anthony, you've done it all in your career. Is there anything left that you haven't done that maybe 2021 is the time to finally do?
ANTHONY ANDERSON: Oh, there's a lot that I want to do that I haven't done yet. And I'd like to do more directing. I'd like to transform my body into a character in a role that I have never done before. You know, create more content.
I'm not one to rest on my laurels. There's a lot more that I want to do. There's a lot more collaborations that I want to be a part of. And I want to enhance the brand that I've started with my mom, you know, with our T-Mobile commercials, as well as our game show, "To Tell the Truth." You know, this is a dream that my mother always had for herself, but she had to put it on hold. She put her dreams of being an actor on hold to raise an actor, not knowing that that's what she was doing.
So for me to be in a position to be able to pay it forward for her and for us to be able to work together is truly a blessing. So I just want to continue to build upon that brand and lift as I climb, you know? And in doing so, share the wisdom and the knowledge that I have. And that, again, is what this partnership with Northwestern Mutual is all about, sharing the information that I have and that I've gained from them, sharing that with my mother, allowing her to understand the value of a dollar and what the value of a dollar is in the future. And that's it.
REGGIE WADE: Anthony, absolutely wonderful. Thank you so much. Remember, "To Tell the Truth" premiering January 26th, and please say hello to Ms. Doris for all of us.
ANTHONY ANDERSON: I will. Thank you for having us on the show. She's not here, but she's here in spirit. There she is.
REGGIE WADE: Bye, Ms. Doris.
ANTHONY ANDERSON: [LAUGHS]
REGGIE WADE: Thank you so much.
ANTHONY ANDERSON: Thank you, brother. You guys have a great day.
REGGIE WADE: Have a great day. Stay safe.
SEANA SMITH: All right, thanks so much for bringing that interview to us, Reggie.