Troy Millings, left, and Rashad Bilal of Earn Your Leisure
Source: Earn Your Leisure
Social influencers focusing on financial education for the black community are emphasizing the message of financial freedom in this Juneteenth as the nation commemorates the end of slavery in the United States.
“I definitely think there should be a level of economic understanding in the memory of Juneteenth,” Rashad Bilal of the Earn Your Leisure podcast told CNBC. “But I think the problem with the holidays is that no matter Christmas, Easter, New Year’s, everything is just made to be a celebration, and you lose the meaning of it.”
Former financial advisor, Bilal said: “The importance of both economic and social freedom on Juneteen is something that people should keep in mind every single day.”
earn your restWhich focuses on financial literacy, has over 1 million followers on Instagram and is part of a growing movement of content creators who provide insights and tips on the markets, real estate, crypto currency, entrepreneurship and more.
“Let’s see where it goes. Maybe it’s not just this holiday or a week or Black History Month. What if we could have this economic conversation on a daily basis?” Said Earn Your Leisure Troy Millings, a former physical education teacher.
They are also making a clear connection between the goals of financial freedom and the economic impact of slavery on America and its black citizens today.
Bilal said, “Understand that people really died for finance. That was really slavery. It was a financial system put in place for free labor.”, “So when you see that our ancestors really sacrificed their lives and it was done for economic empowerment, it compels you to look at your finances. You don’t want to just waste your money You can actually use that money to change the trajectory of your country. Your family.”
Black Americans are at a loss when it comes to money. According to a study by the Federal Reserve released in 2020, average net worth Black households in the United States amounted to about $24,000. White households had an estimated median net worth of $188,000.
Other influential people spreading the economic liberation message include Ian Dunlop aka master investor, Kezia WilliamsThe wall street trapper, Philip Michael And Ross Mack, She has millions of social media followers, and each has their own niche but the same goal of helping the black community balance their books and build wealth.
Dunlop told CNBC he thinks economic freedom is just as important as social justice. “We really don’t have justice if we don’t have economic freedom and financial literacy,” he said.
Dunlop is urging black Americans to pay special attention 2017 report It predicts that the average wealth of black households will drop to $0 by 2053 and seek investment opportunities. “I don’t want our people, our children, our grandchildren to become destitute and that’s the challenge we face if we don’t take collective action,” he said.
Kezia Williams | black upstart
Elsewhere, Williams calls himself a “liberation activist” as well as an influential figure. Williams is the CEO black upstartA company that provides education and support to early stage entrepreneurs.
In past years, Williams has urged black consumers to see Juneteenth as an opportunity to support black businesses and post their receipts with the hashtag #myBlackReceipt.
“Invest in black entrepreneurs who will use the dollars you spend with your business to give back to their communities and create products and services that our community needs and that money for your family.” We also do constructions that can give generational returns.” Williams said.
Meanwhile, Michael’s goal is to help 100,000 black people become millionaires through real estate by 2030. He has a $250 million dollar real estate portfolio built from $850,000 in seed money from a relative.
“The asset class that has made more millionaires than any other is real estate. It’s one of the ‘easiest’ ways to get to that point,” Michael told CNBC. “Really, what I want to do is to normalize those conversations into a casual format where we can talk about our investment portfolio like we talk about a trip or the shoes we buy. “
Source: Philip Michael
The Earn Your Leisure Podcast is recognized as a pioneer of emerging financial influencers and has drawn in many high profile people in the business, sports and entertainment worlds to discuss their financial plans, mistakes and goals. Those guests include Mark Cuban, Shaquille O’Neill, and Steve Harvey.
The hosting duo also created the hashtag #AssetsOverLiabilities which has become the philosophy of their content and the motto used on T-shirts and other merchandise. Bilal and Millings started their podcast in January 2019 with the goal of reveling Wall Street to the Black community.
“We wanted to make learning about finance and generational wealth a cool thing, we wanted to make it a normal conversation. I didn’t grow up with this kind of conversation at the dinner table. But imagine if we did? Imagine if at the barbershop we weren’t arguing about the best basketball player, but we were talking about the top companies that can do what in the neighborhood.” Millings said.
Bilal and Millings now believe that Earn Your Leisure has evolved from creating content to truly educating the black community about wealth creation.
“Educating is something that is sustainable over the long term. How you perceive someone’s learning in a formal setting is what you assess.” Millings said. “Our assessment is when we hear feedback when we go out, and we look at people and they tell us about stories or when they send us emails and say, ‘It changed my life.