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
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'Queen Charlotte' Star Arsema Thomas Worked At The United Nations Before Landing Her Breakout Role
Actress Arsema Thomas (Arséma Adeoluwayemi Hamera) may be new to the acting scene, but the star's standout performance in Netflix's limited series Queen Charlotte: A Bridgerton Story is already leaving a lasting impression among many.
Queen Charlotte: A Bridgerton Story, a prequel to Bridgerton, follows the young queen's life as her marriage to King George of England sparks an epic love affair and a societal shift.
In the drama, Thomas portrays the role of a young Lady Agatha Danbury, a close friend and confidant of Queen Charlotte, and it also depicts Lady Danbury's journey.
The series showcases the struggles Lady Agatha Danbury experienced in her lifetime. The list includes being forced to partake in a loveless marriage to a former African king Herman Danbury, becoming a widow, and possibly losing her estate and title following her husband's death.
Since Queen Charlotte: A Bridgerton Story debuted on Netflix earlier this month, it has dominated the streaming service's top ten charts and piqued fans' interest in the show's stars, including Thomas.
Although many may not know a lot about the Atlanta native, who goes by she/they pronouns, and how she became one of the breakout stars in Queen Charlotte: A Bridgerton Story, still, with the recent promotional tour Thomas has been doing for the show, she has shared some shocking details about her life.
Thomas' revelations within the past several months include details about her educational pursuits, previous work experience, her African culture, the steps she took to prepare for her role as Lady Agatha Danbury, and many more.
Arsema On Her African Heritage
Thomas, who is Nigerian and Ethiopian, is the daughter of diplomats.
The 28-year-old's parents, consisting of an Ethiopian mother and a Nigerian father, worked in the government to improve Africa's economic development.
Due to her parents' professions, the actress moved around a lot and lived in various countries like Kenya, Benin, Comoros, Uganda, and India, which exposed her to social issues. In an interview with Teen Vogue, Thomas opened up about having conversations about politics and government at a young age.
"Dinner table conversations were about politics, about African governance. I realized that in a lot of the countries I lived in, the effects of colonialism and imperialism were so blatantly obvious. That became the driving force for what I thought I should be doing as an adult," she said.
Later Thomas would ultimately reveal that her parents' work had inspired her to become a "doctor or something" because she wanted to make them proud.
Arsema Attended Carnegie Mellon University and Yale University
Prior to pursuing acting, Thomas revealed to Shondaland that she was a college graduate.
In 2016, she received her bachelor's degree in biophysics from Carnegie Mellon University. Following her graduation, Thomas interned at a mobile health clinic and a refugee camp in Kenya for over a year.
Around the same time, the star would continue her education by getting her master's in epidemiology and health policy at Yale University. Thomas disclosed that despite the educational success that she has achieved, acting became her main priority when she realized that this is something she could envision herself doing "100 percent of the time." This decision led Thomas to relocate to Paris, South Africa, and then to London to study drama.
"I packed up everything and moved to Paris because I wanted to do acting 100 percent of the time," she stated. "It was always something I had wanted to do, [but] I didn't think I would be able to. I thought it was going to be a hobby or a thing that I'd have to suppress in myself for the rest of my life."
Thomas would land her first role in 2021 as a guest star on the television series One Touch. Shortly after, she would participate in the 2022 film Redeeming Love as the character Rebecca. The rest would be history because, around that time, Thomas would receive the life-changing role of Lady Agatha Danbury in Queen Charlotte: A Bridgerton Story.
Arsema On How She Prepared for Her Role In Queen Charlotte: A Bridgerton Story
When the opportunity for Queen Charlotte: A Bridgerton Story came along, Thomas took various steps to transform into Lady Agatha Danbury.
The actress, who has admitted to never seeing Bridgerton in the past, told Cosmopolitan UK's Up Close series that because she wasn't familiar with the fictionalized character, she decided to find things that she thought Lady Agatha Danbury would resonate with.
It includes reading books about women by well-known female authors who have made history in their own right, creating a Spotify playlist with music that Lady Agatha Danbury could listen to, and having waist beads made for her character.
"There was a lot of stuff I needed to get into this role because the character is fictional. So I read a ton of books about women or by women, that I thought that Agatha Danbury would resonate. So I read 'Ain't I A Woman' by Bell Hooks. I read Angela Davis' autobiography. I read Assata Shakur's autobiography, 'Tar Baby' by Toni Morrison, 'Eyes Are Watching God,' and 'Vaga Bonds' by Eloghosha Osunde. I made an extensive Spotify playlist, and I got waist beads made for Agatha," she explained.
Further in the interview, Thomas mentioned that she had waist beads made for Lady Danbury and wore them throughout the filming process because it helped ground her as she portrayed the character whom she described as entirely different from who she is as a person.
"It was a Nigerian woman threading these beads, and I asked her to thread beads specifically for this character, and I wore it throughout the entirety of filming," she said. "Because it was just kind of was a physical grounding point to this woman that is really, really actually far from who I am as an individual."
Thomas shared that talking to her grandmother, who had a similar background to Lady Danbury, such as having an arranged marriage at a young age, also helped her prepped for the role.
"I also talked to my grandmother a lot. I didn't realize how similar she was to this character. Because she was also married off when she was quite young," she revealed. "It was really interesting to kind of talk to someone in my life who I've known, who’s gone through something that is essentially the stripping away of their freedom, and someone who doesn't have any resentment or harbored anger towards the situation."
Arsema Worked At The United Nations
Thomas' work experience is an interesting one. Despite interning at three different health organizations, she previously worked at United Nations Population Fund, according to her Linkedin profile.
United Nations Population Fund's site states that the organization is part of the United Nation's "sexual and reproductive health agency." The gathered information on Thomas' profile says that she was an associate for the company from 2017 to 2018.
Some of Thomas' responsibilities included conducting "policy analyses" for United Nations Population Fund's sustainability and "supporting the regional desk specialist" in the program's division.
Arsema Speaks Five Languages
On top of Thomas' overwhelmingly impressive resume, the actress also speaks five languages.
According to the African publication Bella Naija, Thomas speaks English, Amharic, Yoruba, French, and Spanish. Although Thomas hasn't publicly talked about what inspired her to become multilingual, many can assume it is because of the various locations she has lived in throughout her life and her interest in learning.
Thomas may be a rising star now, but with the facts provided above, the actress has displayed through her work ethic and drive that she can soon become a household name.
Thomas' latest work Queen Charlotte: A Bridgerton Story, is now streaming on Netflix.
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Feature image by Dominik Bindl/Getty Images