Introducing Our New Columnist: Stan Harrison — Helping You Master Money and Protect What Matters Most

We’re proud to announce a bold new addition to the MONEY section of Black Men In America — a column dedicated to practical financial advice, wealth-building strategies, and navigating life’s unexpected turns with confidence.

Meet Stan Harrison, a seasoned financial expert and the trusted face behind Stan Harrison State Farm in New Smyrna Beach, Florida. With a passion for protecting families and empowering communities, Stan brings years of real-world experience to our readers — from auto, home, and renters insurance to financial literacy, risk management, and planning for the future.

As a respected State Farm Agent, community mentor, and Chamber of Commerce board member, Stan is more than just an insurance professional — he’s a purpose-driven advocate for smart decision-making, economic independence, and being prepared for whatever life throws your way.

In his upcoming columns, Stan will break down:

• Common money mistakes and how to avoid them
• Building generational wealth — one decision at a time
• The power of financial protection: why insurance matters
• Real talk about saving, budgeting, and bouncing back
• And insider advice from a man who’s helped hundreds secure their futures

Stan’s approach is clear, honest, and rooted in the belief that good neighbors become strong communities when they are informed and financially secure.

Stay tuned each month as Stan Harris shares tips, strategies, and personal insights designed to help you make smarter financial choices and live a more secure life.  Welcome to the team, Stan!

Money – Part 2

After reading Mr. Johnson’s article (How Do Black People Spend Their Money),  I was reminded of the following quote shared with me by my mentor Dr. Charlie Roberts. “What you don’t know won’t hurt you but not knowing will certainly cost you a lot of money.”

This quote reflects the reality that ignorance, especially in matters of personal finance, can have tangible consequences. In a world where access to information is more democratized than ever, the challenge is not a lack of resources, but a lack of initiative.

Yet, even with all the practical advice at our disposal, the greatest obstacle to financial progress remains inertia. Many of us know what should be done, but the gap between knowledge and action persists. This is where intentionality becomes paramount. It is not about waiting for the perfect financial moment—rather, it’s about starting where you are, with what you have, and refusing to be paralyzed by either fear or perfectionism.

I have seen firsthand how small, consistent actions—reviewing your budget every week, setting up automatic transfers into savings, or simply having candid conversations with family members about money—can blossom into habits that transform futures. Education, accountability, and a willingness to seek guidance are key. If there is a lesson to be learned from the stories of wealth-building, it is that you do not have to walk this path alone. There are resources, mentors, and tools available for those willing to reach out and take the first step.

Taking ownership of your financial education is not merely prudent; it is essential.

That’s why it’s important to embrace a mindset of continuous learning and honest self-assessment. True progress comes not from isolated acts, but from a sustained commitment to growth, leaning into discomfort, confronting past mistakes, and being open to new approaches. The process of building wealth is rarely linear, nor is it free of setbacks. But each lesson learned, whether through success or failure, becomes a building block for future prosperity.

I would like to thank Mr. Gary Johnson for this courageous article that showed a realistic financial picture of the African American community.  His article could have been easily labeled as controversial; however, the facts are the facts! We all know that though people are not completely truthful, numbers however do not have the luxury of falsehood.  I would also like to remind readers that knowledge of financial literacy not only contributed to my life – but it has shaped my point of view & the direction to start a business. Before I decided to open an insurance & financial services franchise, I was always reminded that “You are either part of the problem or part of the solution- no questions!”  I chose to make it my mission to change the face of wealth by educating & eliminating the fear of investing. I would also like to remind the reader that the facts presented over 15 years ago are still relevant & even more pronounced in 2025.

The financial realities we face today are neither the result of chance nor immutable destiny—they are shaped by choices, systems, and the stories we tell ourselves. Recognizing this is the first step toward meaningful transformation. The numbers from decades past serve as both warning and guidepost: if we ignore them, we risk perpetuating cycles of hardship; if we study and act upon them, we can rewrite those cycles into narratives of progress.

So how do we translate awareness into action? It starts with honest conversations—within households, among friends, and across communities. Transparency about money matters can dismantle shame and inspire collective problem-solving. Whether it’s exploring the fundamentals of investing, learning about credit scores, or uncovering the mechanics of interest and compounding, open dialogue replaces isolation with empowerment.

Moreover, the path to financial well-being requires challenging ingrained beliefs about wealth and possibility. Too often, the legacy of financial marginalization breeds skepticism and caution, but it need not be a life sentence! By choosing to see ourselves as agents of change—capable of learning, adapting, and leading—we reclaim the narrative and lay the groundwork for generational prosperity.

In this extension, I would like to focus on three actionable items that each reader can do within the next month to improve the trajectory of you & your family’s financial future. These include Retirement/401K enrollment, Debt Reduction & Life Insurance.

In reflecting on these truths, I am reminded that financial empowerment begins with confronting our habits and the cultural narratives we inherit. Too often, we are taught to measure success by visible markers—what we wear, what we drive, or what adorns our homes—while the foundations of true, lasting wealth lie in knowledge, discipline, and ownership. The journey from being a consumer to becoming an investor is both a mindset shift and an act of courage, particularly in communities where historic barriers to wealth-building persist.

It is not enough to simply earn money; we must learn the principles that allow wealth to multiply and endure. This means asking difficult questions about our own spending patterns and considering how each dollar might serve us in the long run. When I first began educating myself about assets, liabilities, and investment strategies, it was a revelation to see how seemingly small decision choosing to save rather than spend, to invest rather than consume—could ripple outward, shaping not only my own financial destiny but also for those around me.

True financial literacy empowers individuals to see beyond immediate gratification, to imagine a future in which money is a tool of liberation rather than limitation.

Consider, for example, the significance of enrolling in your company’s retirement plan or initiating contributions to an IRA. Each contribution is more than just a deposit—it’s a declaration that your future matters, and that you are taking deliberate steps to secure it.  Retirement planning is more crucial now than ever due to the most recent news suggesting a 25% reduction in Social Security Retirement benefits for individuals filing in 2033 or later.  

Similarly, tackling debt is not merely about reducing numbers on a statement, but about reclaiming the power to dictate your own financial narrative. Each dollar paid off is a weight lifted, granting you more freedom to pursue opportunities rather than obligations.

Life insurance, often misunderstood or overlooked, functions not only as a safety net for loved ones but as a cornerstone of generational wealth. When structured wisely, it can serve as both protection and a means to build assets that outlast a single lifetime. These tool-retirement plans, debt reduction, and life insurance—are not reserved for the wealthy; they are accessible strategies that anyone can begin to implement, within the next 30 days regardless of your individual starting point.

Adopting these practices, even in small increments, can have a compounding effect over time. The journey toward financial stability and growth is not measured by a single leap, but by a series of intentional steps—each one building on the last. Setting aside a portion of each paycheck, negotiating to lower high-interest debts, or taking the time to understand the nuances of various life insurance policies might seem like modest actions, but collectively, they chart a powerful course toward a resilient financial future.

It is important to emphasize that these changes are accessible and achievable, no matter your current circumstances. Progress is rarely linear, and setbacks may arise, but persistence is key. Celebrate each milestone—be it paying off a credit card, increasing your retirement contributions, or explaining the basics of compound interest to a family member. These victories are cumulative, gradually shifting your relationship with money from one of anxiety or avoidance to one grounded in confidence and foresight.

By fostering this sense of urgency and purpose, we not only improve our own prospects, but also become catalysts for broader transformation. As we equip ourselves with knowledge and put it into practice, we become examples for others—proving that financial security is within reach, and that generational wealth is not a distant dream, but an attainable reality.

Your financial goals should have specific purposes! For instance, an account with $16,400 earning 10% would yield $1,640 annually to pay the annual property taxes, which will ensure that the family home will remain in the family into perpetuity. (Average property tax .82% & home value of $250,000 with $50,000 homestead exemption)

Another example is an account with $1,000,000 earning 10%, annual withdrawal rate 4% ($40,000) to use or supplement your plan for retirement & the $1,000,000+ principle will grow to pass to future generations.  Some would question how these numbers are possible; I will redirect you to the original article which shows the buying power of the African American community. Rule #1 in any financial plan is to Pay yourself first! Becoming a millionaire in America is not as difficult as previously viewed, there are several articles, videos & examples available – if you are willing to act toward financial freedom.

The shift to a wealth-building mindset is a journey that transcends individual benefit. As more people in our community embrace these principles, we set a new standard and legacy for the generations that follow. True empowerment comes from understanding that the financial decisions we make today echo long into the future, shaping not just personal fortunes, but the destiny of entire communities.

This is especially urgent when the economic disparities identified years ago have only widened, underscoring the need for intentional change.

As you begin to internalize these concepts, it becomes clear that every financial decision, no matter how minor it may seem, carries the potential to either reinforce old cycles or spark transformative change. Shifting our mindset involves not only resisting the pull of instant gratification but also cultivating curiosity about how wealth is created and sustained. Financial empowerment is not about deprivation; it’s about making intentional choices that open doors and expand possibilities.

Start by examining your daily habits and ask: does this purchase help me move closer to my long-term goals, or is it momentary satisfaction at the expense of future security? This simple question can spark a profound shift, encouraging a move from passive consumption to active, purposeful investing. For many, this means viewing money less as something to be spent and more as a seed to be sown—an instrument for building, protecting, and eventually transferring wealth. During the early 2000 a concept called the “Latte Factor” was popularized by David Bach, author “The Automatic Millionaire” used to show how small daily expenses like buying a latte can significantly impact long term savings.  I often challenge individuals to simply reduce their streaming channels or app purchases, use the monthly savings from these service reductions as the investment starting point.

Community matters, too. Sharing knowledge, discussing financial strategies, and supporting others in their journeys can collectively uplift entire neighborhoods. When financial literacy is seen not just as a personal asset but as a communal resource, its impact multiplies. Imagine the strength of a community where financial decisions are guided as much by wisdom as by aspiration, where everyone’s progress contributes to a larger legacy of well-being and abundance.

By approaching your finances with intention, discipline, and a willingness to learn, you lay the groundwork for lasting prosperity—not only for yourself, but for those who will walk the path after you.

As a respected State Farm agent, mentor, and community leader, Stan HarrisonStan Harrison, CLU, CHfC, CASL, MDRT (386) 427-5277can help you with money management, insurance, generational wealth, and real-world financial planning. From protecting what matters to building what’s next — Stan’s got you covered.  Click here to contact Stan and have him assist you with your financial needs.