

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
After Decades-Long Career, Terri J. Vaughn Is Finally The Main Character: Exclusive
Terri J. Vaughn first captured our attention in the late ‘90s as Lovita Alizay Jenkins on The Steve Harvey Show. Decades later, she is starring in her very own series, She The People, which is now available to stream on Netflix.
The political sitcom, which she co-created with Niya Palmer and later teamed up with Tyler Perry Studios, is about a Black woman named Antoinette Dunkerson who runs for lieutenant governor of Mississippi. She wins and becomes the state’s first Black lieutenant governor. Now, she’s forced to balance working with a racist and sexist governor while also trying to keep her family from running amok.
According to the beloved actress, this project was a long time coming. “I’ve been trying to get my own television series for like 20 years, pounding the pavement, meeting with people, getting clothes, being lied to, just a whole bunch of stuff,” she says in an exclusive interview with xoNecole.
“But just keep going, because this is what I do. This is what I love, and I know how important it is for us to continue to show up and make sure that we are seen, make sure that our voices are heard. For several reasons. I just never give up. So here I am, 20 years later, finally sold my show.”
She The People is inspired by the true story of London Breed, who became the first Black female mayor of San Francisco, Terri’s hometown. And to help make the show more authentic, the Cherish the Day actress tapped former Atlanta mayor, Keisha Lance Bottoms to come on as a producer.'“I’ve been trying to get my own television series for like 20 years, pounding the pavement, meeting with people, getting clothes, being lied to, just a whole bunch of stuff."
After bringing the former mayor aboard, it was time to pitch again. And this time, the companies were pitching them. Ultimately, Terri decided to work with Tyler Perry on the series.
“We decided to do it with Tyler for several reasons. I love that. Well, most of the companies we met with were Black-owned companies, but he was the only studio,” she explains. “Tyler is like Walt Disney. That's literally what he is. He has the studio, he has the content. He operates just like Walt Disney.”
And thanks to the cast, the show is nothing short of laughs. The series also stars social media creator Jade Novah as Antoinette’s crazy cousin/ assistant, Shamika, Family Mattersstar Jo Marie Payton as Anotinette’s mom, Cleo, and Terri’s husband, Karon Riley, who plays Michael, her driver and love interest.
While we’ve watched Terri’s career blossom in various ways. From directing to producing, and playing diverse characters, the mom of two says her The Steve Harvey Show character will always be her favorite.
“Well, Lovita was definitely my favorite, especially for my time, the age and everything that I was. Now as a grown ass woman over 50, Antoinette Dunkerson is everything that I've wanted to play. She's everything. She's a mother of two teenagers. She's divorced, so she's co-parenting with her ex-husband. She has to wrangle in a very eclectic family,” she says.
“So I like playing characters that are really flawed and trying to figure it out and doing their best to try to figure it. And she's very flawed and she is trying to figure it out, and she fucks up sometimes. But her heart and what she's trying to do and what her vision is and purpose, it's all for the people. I mean, she the people. She’s for the people, she is the people.”
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Feature image by Jamie Lamor Thompson/ Shutterstock
5 Celebrity Couples Who Revealed They Sleep In Separate Bedrooms
Couples sleeping in separate rooms may signal that something is wrong to some, but research shows that’s not always the case. The American Academy of Sleep Medicine study revealed that over a third of Americans practice what is known as “sleep divorce.”
We all have different sleep schedules and styles that can potentially disrupt another person’s sleep. So sleeping in separate rooms can be a solution.
“Although the term ‘sleep divorce’ seems harsh, it really just means that people are prioritizing sleep and moving into a separate room at night when needed,” Dr. Seema Khosla said in the study.
This can not only lead to better sleep, but better relationships. Some celebrities have even acknowledged that they prefer a sleep divorce within their relationships. Check out which ones below.
Raven-Symoné
Raven-Symoné and wife Miranda Pearman-Maday sparked a lot of conversation on social media after sharing that they sleep in separate rooms. The couple made the revelation during a solo episode of their podcast Tea Time w/ Raven & Miranda.
"We really function in better in separate spaces, especially when it comes to sleep," she Miranda said. "And I was like, 'We should have separate bedrooms.' And then we can decorate our bedrooms as we want, number one, which is great because you had a different vibe, so we both wanted to have different style of bedrooms.
“Now, we get to have that. And we aren't fucking up each other's sleep schedules. Primarily, you're not fucking mine up, which is getting up at 2 a.m., 4 a.m.”
She added, “Raven, babes, you love to sleep in the reverse orientation."
Ms. Pat
During xoNecole’s recent interview with Ms. Pat, the comedian revealed that her form of self-care involves sleeping in a separate bedroom than her husband.
“Me and my husband don’t sleep in the same room,” she said exclusively. “That way, when I don’t feel like being bothered, I go to my space.”
John Legend & Chrissy Teigen
Chrissy Teigen has shared in the past that sometimes she and John Legend sleep separately. She cited their busy schedules, traveling, and her preferring to stay up late as reasons.
Larenz Tate
Back in September 2019, Larenz Tate stopped by The Breakfast Club and opened up about his marriage with Tomasina Parrott. The Power star gushed over his wife and even joked about how they have to sleep in separate bedrooms, so he won’t be tempted to impregnate her.
"There's a lot of stress in the world. I go home, I gotta stay away from my wife. I can't look at her too long,” he said. “The loins are tender, she's very fertile, and I just try to stay away from her man.
He added, “I sleep in a different room. When it's time for me to get a little somethin-somethin, she turns up pregnant, all the time."
Will Smith & Jada Pinkett-Smith
While they’ve been separated since 2016, Will Smith and Jada Pinkett-Smith would sometimes sleep in separate rooms due to their busy schedules and practicing independence.
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