Getting To The Bag With Wall Street Rapper Ro$$ Mac
Are you interested in investing your money? Do you want to learn the ins and outs of the stock market? Maconomics star Ro$ Mac is all about his coin and doesn't mind sharing his knowledge either. Not only is he the first Wall Street rapper but his weekly segment on Revolt TV has really set the bar for what it means to pour back into the black community. Mac secures the bag, but also makes sure to pay it forward by spearheading a message of black wealth and providing the keys to the kingdom through financial literacy on social media.
Together, money and knowledge is true power and Mac's platform is proof of that fact. His videos are short, direct, and most importantly informative when it comes to the dos and the don'ts of all things investing. Mac is advocating for breaking generational curses and building generational wealth one post at a time. Recently, xoNecole had the privilege of chopping it up with the financial expert about Maconomics, the stock market, and why black wealth matters.
xoNecole: How did you make the transition from working on Wall Street to becoming a Wall Street Rapper?
Ro$$ Mac: When it came to making a transition, it wasn't that I had to choose one or the other which I was extremely grateful for. I was able to balance both roles and it was a blessing. I was able to hear myself on the radio on my way to work on Wall Street. To be honest, when I first started working on Wall Street while making music, I was very self-conscious about my co-workers knowing about the other side of me. Being a black person working in corporate America, you are very conscious of how you are perceived. Being a rapper was not how I wanted to be perceived.
What inspired you to become so well-versed with the stock market?
What truly inspired me was when I moved back home to Chicago and I was still working in finance at the time. After reconnecting and interacting with my homies that I grew up with, I realized there was a vast difference where people were in their lives based on exposure. I was considering how I could give back to my community in a dope way while simultaneously still being myself. I created Maconomics to bring Wall Street to the main street. I wanted to drop the same gems that I've been exposed to with the same people that come from where I come from. If someone is my brother, they don't necessarily have to travel the same path that I've traveled to benefit from the knowledge that I have. Life for me is about passing on the knowledge and not being selfish with it.
"I created Maconomics to bring Wall Street to the main street. I wanted to drop the same gems that I've been exposed to with the same people that come from where I come from. If someone is my brother, they don't necessarily have to travel the same path that I've traveled to benefit from the knowledge that I have. Life for me is about passing on the knowledge and not being selfish with it."
At what age did you invest in your first stock?
I was 18 and in college when I first invested in the stock market. I saw a kid trading stocks in one of my classes. I asked my economics professor what would be a good stock to invest in and she told me that no matter what, people will always need their utilities. I ended up buying G.E. for 7 bucks and it didn't really make me any money but it was a good start.
What can people expect to learn from your show 'Maconomics'?
People can expect to learn financial literacy for black culture. Maconomics allows people to learn about themselves by me addressing questions that people are too afraid or shy to discuss. Black people don't like discussing finances which are taboo in certain communities. Maconomics is a platform to bring financial literacy with a twist. I'm able to make people laugh while also educating and informing you. I'm able to give you the facts and tell you what other communities are doing and why they are richer. Maconomics is all about financial literacy and bringing it to my audience in both a comedic and entertaining way so that it will stick with you and be easy to digest.
You have started the campaign “Black Wealth Matters”. How has that decision contributed to your life and others? What does black wealth mean to you?
Black wealth is the solution to racial injustices. Living in a capitalist society, those without capital tend not to have any power. The moment that black people have more access to attaining wealth and capital, and better knowledge about getting it and keeping it. I believe from a social justice standpoint we will get a lot further in life by expanding our financial literacy. Black wealth has been kept from us in a very systematic and intentional way. When you look at what happened on Black Wall Street, redlining, and bank loans. Everything that was done in the past was done with great intent. The average black household net worth is less than 10 times of a white family. There are a lot of things that will make it right and black wealth is one of them. Black wealth is the equalizer and will take us a lot further in life.
"Black wealth has been kept from us in a very systematic and intentional way. Everything that was done in the past was done with great intent. The average black household net worth is less than 10 times of a white family. There are a lot of things that will make it right and black wealth is one of them. Black wealth is the equalizer and will take us a lot further in life."
What are some of the biggest mistakes that you have made financially?
I don't have too many financial mistakes but I have made bad investments. My biggest mistake would be the lost revenue that I missed from not investing in certain stocks.
What is the biggest misconception about investing in stocks and finances overall?
The biggest misconception is thinking that you need to be rich to start investing. You can literally start investing with $25-$50. The other misconception is that you have to be a rocket scientist to invest and that saving money is enough. All you need to do is buy an index, the S&P 500, or Nasdaq and over the long haul, you can make about 10% annually. People need to understand that saving money is not enough considering the power of inflation. Money is losing its value every year. You need to be investing your money as well.
"You can literally start investing with $25-$50. The other misconception is that you have to be a rocket scientist to invest and that saving money is enough. All you need to do is buy an index, the S&P 500, or Nasdaq and over the long haul, you can make about 10% annually. People need to understand that saving money is not enough considering the power of inflation."
What do you have to say to people of color that have a strong interest in breaking generational curses and building generational wealth?
Key practices when it comes to building generational wealth is starting now and being unselfish when it comes to thinking about the next generation. It can just be helping your kids not graduate with thousands of dollars in debt. Paying $20 a month for some type of life insurance policy in order to potentially leave your children $500,000-$1 million. Or you can open a 529 plan to invest in the stock market so that you will be investing in the stock market and your money will be growing tax-free. Try owning some type of real estate to pass to the next generation. There are so many ways to build generational wealth, you just have to get started.
It’s a fact that most Americans aren’t saving and live paycheck to paycheck, how do you advise someone who doesn’t prioritize savings to start doing so and build their emergency fund? What’s your golden rule when it comes to emergency funds?
Everyone should have at least 6 months worth of emergency funds. Start treating savings like it's a bill. Don't just pay your bills without paying yourself first. Automation makes it easier to save. Before you have the opportunity to spend that money, it's already set aside and you're able to invest in your retirement without even thinking.
Let’s say, we want to retire as millionaires, what are some seeds we could be planting now to ensure that we reap the fruits of our labor when we’re ready to retire?
If you want to retire a millionaire, practice investing every month. Investing $300 every month in an equity portfolio that will get you on average 8-10% which is a million dollars in 30 years. Making investing easy and not hard by automation. Try to invest a few hundred dollars every month. Find power through the power of compounded interest. Interest on interest is equivalent to racks on racks.
"Find power through the power of compounded interest. Interest on interest is equivalent to racks on racks."
With this being a season of unemployment in epic proportions and a recession looming, answer this important question: should you be dating while broke?
Dating while broke is very crucial. I don't think you should do anything beyond your means. Dating while broke is the same as clubbing while broke. Why would you be in the club spending money you don't have? I believe you can date on your way to being financially free but I don't think you need to incur unnecessary debt while dating. Date within your own budget and means. You can date for free. You have to be honest with the person you are dating. Don't lose track of your financial goals because you are trying to impress someone. The issue is when people don't stick to their financial plan. It's all about having a conversation about your dating expectations.
For more of Ross, follow him on Instagram and catch him on Revolt TV's Maconomics.
Featured image courtesy of Ro$ Mac
Beyond Burnout: Nicole Walters' Blueprint For Achieving Career Success On Your Own Terms
Nicole Walters has always been known for two things: her ambition and her ability to recognize when life’s challenges can also double as an inspiring, lucrative brand.
This was first evident more than a decade ago when she quit her job as the corporate executive of a Fortune 500 company during a Periscope livestream. “I’m not sure if there’s an alignment of [our] future trajectory. I’m going to work for myself. I'm promoting myself to work for myself,” she said at the time before flashing a smile at the viewing audience. As she resigned on camera, a constant stream of encouraging messages floated upwards on the screen.
By 2021, she’d fashioned her work as a corporate consultant and her personal life with her husband and three adopted daughters into a reality show, She’s The Boss, for USA Network. This year, she released the New York Times bestselling memoir Nothing Is Missing, written as she was in the process of getting a divorce and dealing with her eldest daughter’s struggles with substance use.
Convinced that there’s no way the 39-year-old has achieved all of this without intentional strategic planning, I asked her about it when we spoke less than a week before Christmas. I’d seen videos on social media of her working on 2024 planning for other brands, and I wanted to know what that looked like following her own year of success.
She listed a number of goals, including ensuring that the projects she takes on in the new year align with her identity “as a Black woman, as an African woman, as a mother, as someone who has lived a [rebuilding] season and is now trying to live boldly and entirely as themselves.” But, I was shocked by how much of her business planning also prioritized rest.
Despite the bestselling book, a self-titled podcast, and working with numerous corporations, Walters said she’s been taking Fridays off. This year, she doesn’t want to work on Mondays, either.
“A lot of us think we work hard until retirement hits. I want to progress towards retirement,” she said, noting that she’ll check in with herself around March to see how successful this plan has been. The goal, Walters said, is to only be working on Tuesdays and Thursdays by sometime in 2025. “It is intentionally building out what I know I would like to have happen and not waiting for exhaustion to be the trigger of change.”
"A lot of us think we work hard until retirement hits. I want to progress towards retirement... It is intentionally building out what I know I would like to happen and not waiting for exhaustion to be the trigger of change."
Walters said the decision to progressively work less was partially in response to her previously held notions about her career, especially as an entrepreneur. “When I first started, I thought burnout was a part of it,” she said. “What I didn’t realize is that even if you’re able to bounce out of burnout or get back to it, there’s a cumulative impact on your body. If you think of your body as a tree and every time you go through burnout, you are taking a hack out of your trunk, yes, that trunk will heal over, and the tree will continue to grow, but it doesn't mean that you don’t have a weakened stem.”
But, the desire for increased rest was also in response to the major shifts that occurred three years ago when she was experiencing major changes in her family and realized her metaphorical tree was “bending all the way over.”
Courtesy
“One of the things we have to recognize, especially as Black women, is that there is this engrained, societal, systemic notion that our worth is built around our productivity,” she added. “That is some language that I think is just now starting to really get unpacked.” In recent years, there’s been an increased awareness of achieving balance in life, with Tricia Hersey’s “The Nap Ministry” gaining attention based on the idea that rest, especially for Black women, is a form of resistance. Even online phrases such as “soft life” and “quiet quitting” have hinted at a cultural shift in prioritizing leisure over professional ambition.
"One of the things we have to recognize, especially as Black women, is that there is this engrained, societal, systemic notion that our worth is built around our productivity."
If companies are lining up to consult with Walters about their brands and products, then women have been looking to her for guidance on starting over since she invited them to livestream her resignation 12 years ago. As viewers continue to demand more from content creators in the form of intimate, personal details, Walters has navigated her personal brand with a sense of transparency without oversharing the vulnerable details about her life, especially when it comes to her family.
The entrepreneur said she’d been approached to write a book for several years and was initially convinced she was finally ready to write one about business. “I started to do that, and then I went through my divorce. When that happened, I said, why would I write a book telling people to get the life that I have when I’m not sure about the life that I have,” she said.
Instead, she decided to write Nothing Is Missing and provide a closer look at her life, starting with being born to immigrant Ghanaian parents (“You need to know my childhood to know why I’m passionate about entrepreneurship.”) through the adoption of her three daughters and eventual divorce. Despite her desire to share, however, she said she felt protective of the privacy of her family, including her ex-husband.
When discussing this with me, Walters said she was reminded of a lesson she learned from actress Kerry Washington, who released her own memoir, Thicker Than Water, just a week before Walters’ book release. Washington’s memoir grapples with family secrets, too, specifically the fact that she was conceived using a sperm donor and didn’t learn about it until she was already a successful TV star. While Washington reflects on how the decision and subsequent deception impacted her, she’s also careful to hold space for her parents’ experiences, too. “A lot of things she said was that she had to recognize where she was the supporting character and where she was the main character,” Walter said.
This is something Walter worked to do in Nothing Is Missing when discussing her daughter’s struggles with addiction. “I was very intentional about making sure that I did not reveal more than what was required,” she said. “If I say something about someone’s addiction, I don’t need to go into the list of the substances they used, how they used them, what I found. [I don’t need to] walk into a room and paint a picture of what it looked like for people to understand.”
Walters said some of the most vulnerable moments in the book barely made a ripple once it was released. She was extremely nervous to write about getting an abortion, she said. But no one has asked her about this in the months since the book was released. Instead, people have been more interested in quirkier revelations, such as the fact that she once appeared on Wheel of Fortune.
“I have bared my soul about this thing I went through in my youth that has changed me for people, and people are like, ‘So how heavy was the wheel when you spun it?’” she said, chuckling. “It just goes to show that people never worry about the thing that you worry about.”
With the success of Nothing Is Missing, Walters said she still isn’t planning to release a business book at the moment. But, as she navigates parenting a teenager and two adult children while also navigating a relationship with her new fiancé, Walters said she believes she has at least one or two more books to write about her personal journey. “There is sort of an arc of where my life has gone that I know I’ve got something more to say about this that I think is important, relevant and necessary,” she said.
In just three years, Walters’ life has undergone a major transformation. There’s no telling what the next three years will have in store for her, but it seems likely she’ll retain an inspired audience wherever life takes her.
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Vanessa Simmons Shares Her Daily Wellness Routine And How It Propels Her Life
Many of us are familiar with actress, model, and entrepreneur Vanessa Simmons. Whether we previously followed her life and career on the iconic VH1 series Run’s House, keep up with her on social media today, or have seen her continually grace our screens on series like BET’s Games People Playor WeTV’s Growing up Hip Hop, she’s a name the culture knows and respects. But what many people may not know about the elegant go-getter is that she’s a big advocate for wellness.
In fact, during the pandemic, she was the friend many leaned on for physical and mental assistance and tips. “We were all in a state of fear and shock, and wellness was at the forefront of many of our minds. We wanted to know how we could stay as healthy as possible, and as the lockdown grew, mental health became just as important,” she says. The unique experience is what fueled her to birth U4IA (pronounced euphoria), an online community built around fact-based beauty and wellness tips and mental health awareness.
The platform started simply as a personal blog, a way for her to have all of her wellness thoughts and suggestions in one place. But anyone who is familiar with Vanessa’s efforts and her business-minded family knows it doesn’t take long for a business idea to spark, and she knew there was an opportunity here. “Pastry (the sneaker line she created with her sister, Angela Simmons) taught me the highs and lows of being a businesswoman. I feel like this is an extension of that,” she explains.
We can see she lives this through her work as an actress, which she’s strived for, for years. But making time for self-care in her routine is something she developed over time. “Every day is not the same – that’s life. But generally, I try to wake up before the house at 5:30 a.m. Then I journal, meditate and breathe, do an ice facial, start my skincare routine (which she makes sure to not rush), and start my day.”
She also practices wellness with her daughter. “All of those things allow me to wake my daughter up in a positive mood and spend time getting her ready for school. Also, I do affirmations with her," she says. "There's been times when she’s tired or in a mood and she actually tells me she feels better after we complete them. And you know kids tell the truth; that’s how I know it’s working!”
Like many, motherhood drastically changed her daily comings and goings. She admits that the journey altered her values and the way she moves through life, especially being someone from the Big Apple. “I had to find patience. I’m a New Yorker, so I like everything quickly. But I learned to find the balance between life and career and know when to shut down the work stuff and just be there for my family - which has brought me more happiness.”
Through U41A she hopes to share some of those processes and tips that help and make it accessible for everyone. “There are expensive ways to celebrate self-care, but there’s also things we can do at home. I like intentional breathing, jumping jacks for five minutes a day, and jumping rope – that releases endorphins. Also, meditation, affirmations, and my prayer life helps me.”
She adds, “Oh, and I love my at-home spa blanket. There's so much we can do in our living space that gives us that luxury spa feeling and fills our self-care cup.”
Today, Vanessa works daily to maintain that balance and intention she’s created for herself and her loved ones, and U4IA is a big part of that. Currently, she’s excited about their upcoming events and future partnerships.“I’m bringing the U4IA website to life through a health and wellness activation. We’re basically bringing the best of wellness in each city to one space.”
Lately, I’ve been feeling very overwhelmed with life, relationships, and work. With things moving so fast, it’s easy to exist in a state of productivity. But one thing life has taught me is that if you’re not showing up for yourself, you can’t properly show up for others, and that creates anxiety. But if someone as busy as Vanessa Simmons can make time for daily self-care, so can I. If you’re feeling the same or looking to make a change in your wellness routine, make sure to keep up with Vanessa’s lifestyle journey on social media and visit U4IANow.com for the latest updates.
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Feature image by Rodin Eckenroth/Getty Images