Troy Millings, left, and Rashad Bilal of Earn Your Leisure
Source: Earn Your Rest
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.
Rashad Bilal of the Earn Your Leisure podcast told CNBC, “I definitely think there should be a level of economic understanding in the memory of Juneteenth as a part of it.” “But I think the problem with the holidays is that whatever it is — Christmas, Easter, New Years — 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 providing insight and tips on markets, real estate, cryptocurrencies, 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?” Earn Your Leisure said Troy Millings, a former physical education teacher.
They are also making a clear connection between the goals of financial freedom today and the economic impact of slavery on America and its black citizens.
“Understand that people literally died for finances,” Bilal said. “That’s what slavery really was. It was a financial system put in place for free labor,
“So when you see that our ancestors actually sacrificed their lives and it was done for economic empowerment, it compels you to look at your finances,” he said. “You don’t want to just waste your money. You can actually use that money to change the trajectory of your family.”
Black Americans are at a disadvantage 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.
Ian Dunlop aka Master Investor, Center, with Troy Millings and Rashad Bilal.
Source: Ian Dunlop
Other influential people who spread the economic liberation message this Juneteenth 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 urges 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 if we don’t act collectively, that’s the challenge we face,” he said.
Kezia Williams | black upstart
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 to create the products and services that our community needs and to provide wealth for your family. We also do constructions that can deliver 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 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 portfolios like we talk about a trip or the shoes we bought.”
Source: Philip Michael
The Earn Your Leisure podcast is considered a leader in the emerging space of financial influencers and has scored 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 a motto used on T-shirts and other merchandise. Bilal and Millings started their podcast in January 2019 with the goal of revealing 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,” Millings said. “I didn’t grow up with conversations like this at the dinner table. But imagine that we did. Imagine if at the barbershop we weren’t arguing about the best basketball player, but about the top companies. I was talking – what could he do for a neighborhood.”
Bilal and Millings say Earn Your Leisure has now evolved from creating content to truly educating the black community about wealth creation.
“Educating is something that is sustainable over the long term,” Millings said. “In a formal setting you assess the way someone understands their learning. Our assessment is when we hear feedback, when we go out and we see people and they tell us stories or when They send us emails and say, ‘It changed my life.'”