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
This Black Woman-Owned Creative Agency Shows Us The Art Of Rebranding
Rebranding is an intricate process and very important to the success of businesses that want to change. However, before a business owner makes this decision, they should determine whether it's a rebrand or an evolution.
That's where people like Lola Adewuya come in. Lola is the founder and CEO of The Brand Doula, a brand development studio with a multidisciplinary approach to branding, social media, marketing, and design.
While an evolution is a natural progression that happens as businesses grow, a rebrand is a total change. Lola tells xoNecole, "A total rebrand is necessary when a business’s current reputation/what it’s known for is at odds with the business’s vision or direction.
"For example, if you’ve fundamentally changed what your product is and does, it’s likely that your brand is out of alignment with the business. Or, if you find your company is developing a reputation that doesn’t serve it, it might be time to pump the brakes and figure out what needs to change.
She continues, "Sometimes you’ll see companies (especially startups) announce a name change that comes with updated messaging, visuals, etc. That usually means their vision has changed or expanded, and their previous branding was too narrow/couldn’t encompass everything they planned to do."
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The Brand Doula was born in 2019, and its focus is on putting "the experiences, goals, and needs of women of color founders first," as well as brands with "culture-shifting missions."
According to Lola, culture-shifting is "the act of influencing dominant behavior, beliefs, or experiences in a community or group (ideally, for the better)."
"At The Brand Doula, we work with companies and leaders that set out to challenge the status quo in their industries and communities. They’re here to make an impact that sends ripples across the market," she says.
"We help the problem solvers of the world — the ones who aren't satisfied with 'this is how it's always been' and instead ask 'how could this be better?' Our clients build for impact, reimagining tools, systems, and ways of living to move cultures forward."
The Brand Doula has worked with many brands, including Too Collective, to assist with their collaboration with Selena Gomez's Rare Beauty and Balanced Black Girl for a "refresh," aka rebrand. For businesses looking to rebrand, Lola shares four essential steps.
1. Do an audit of your current brand experience — what’s still relevant and what needs to change? Reflect on why you’re doing the rebrand in the first place and what success would look like after relaunching.
2. Tackle the overall strategy first — before you start redesigning logos and websites, align on a new vision for your brand. How do you want your company to be positioned moving forward? Has your audience changed at all? Will your company have a fresh personality and voice?
3. Bring your audience along the journey — there’s no need to move in secret. Inviting your current audience into the journey can actually help them feel more connected to and invested in your story, enough to stick around as changes are being made.
4. Keep business moving — one of my biggest pet peeves is when companies take down their websites as soon as they have the idea to rebrand, then have a Coming Soon page up for months! You lose a lot of momentum and interest by doing that. If you’re still in business and generating income, continue to operate while you work on your rebrand behind the scenes. You don’t want to cut existing customers off out of the blue, and you also don’t want so much downtime that folks forget your business exists or start looking for other solutions.
While determining whether the rebrand was successful may take a few months, Lola says a clear sign that it is unsuccessful is negative feedback from your target audience. "Customers are typically more vocal about what they don’t like more than what they do like," she says.
But some good signs to look out for are improvements in engagement with your marketing, positive reviews, press and increase in retention, and overall feeling aligned with the new branding.
For more information about Lola and The Brand Doula, visit her website, thebranddoula.com.
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There Are Actually Scientific Reasons Why So Many Of Us Adore The Fall Season
Chile, maybe I’m just biased, but when I read earlier this year that the majority of Americans prefer the fall season over any other one, all I thought was, “Duh.” There really is no telling just how many articles I’ve written for this platform alone that have mentioned how fond I am of autumn and especially the month of October. I like the temperatures (well, I mean, global warming excluded). I like the scenery. I dig the outfits. I like pulling out my blankets and sipping on warm cider — hell, when it comes to fall, I adore pretty much everything about it.
Know what’s wild, though? There are actually some science-based reasons why so many of us are such big fans of that time of the year — one that is steadily approaching. So, if you’ve been trying to talk yourself out of getting a new neutral-colored comforter for your bed or you’re wondering if you’ve already gone too far with the pumpkins that you’ve got on your porch — my answer would be that you haven’t done enough to officially ring fall in! I’m not the only one who thinks that, either. Quite a bit of research thoroughly agrees.
It Takes Us Back to Our Childhoods
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It’s very common for fall to create feelings of nostalgia.For instance, even though it’s the season that technically doesn’t happen until the third week of September, many of us associate it with the first day of school, high school games, new television schedule line-ups (gee, remember that?), some of our favorite foods and drinks (like ginger snaps and hot cocoa), corn mazes, carving pumpkins, going trick-or-treating, attending fall festivals and so much other stuff that made autumn such a special time while growing up. Yeah, I bet if you thought back to what fall was like back when you were a kid right now, at least a couple of memories would immediately bring a smile to your face. (See…I told you.)
The Aesthetic Is Cozy and Comforting
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Scented candles. Roaring fireplaces. Fresh chrysanthemums. Foliage art. Metallic branches in vases. Neutral throw rugs. Carved pumpkins. Warm hues. Big throw pills. Cable-knit blankets. All of these are things that say “fall is here” in the most cozy and comforting ways. I mean, can you think of another time of year that beckons you to stay indoors more than fall does? Yeah, me neither.
It Boosts Your Self-Image
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Listen, if there’s one thing that I’m gonna do during the fall and winter seasons, it’s layer my outfits. That’s actually one of the reasons why I like fall so much — it’s because the fashion and style takes tend to be super on-point. And yes, based on what I’ve read, that’s another reason why a lot of people like the fall so much…since layering is about adding additional articles of clothing on, you don’t have to worry (as much) about the condition that your body is in like you do in the summertime. And when your body image is elevated, so is your confidence overall.
The Landscape Calms Us Down
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You might’ve already been aware of the fact that when you spend time in nature, it can help to de-stress you. Well, were you also aware of the fact that the beautiful colors of fall foliage can keep you calm as well? If you know anything about color psychology, this makes a lot of sense, considering a lot of leaves are shades of red (love), orange (happiness), and yellow (hope). So, if you’ve had a really stressful day at work, take the long way home to check out some fall trees or even rake up a pile and jump into them like when you were a kid. It could end up giving you the feeling of much-needed relief that you’ve been looking for.
It Creates a “Temporal Landmark”
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If you’ve never heard of a temporal landmark before, the long short of it is it’s moments in time that stand out to you to the point that it creates the perceptions that you currently have, plus it influences how you use your time in real-time. Since the holiday season kicks off during the fall season, activities like football games and homecomings mean a lot to people, and for some of us, the fall season marks the beginning of a new year (Rosh Hashanah), that’s another thing that makes autumn such a wonderful time of the year — we enjoy the way that we spend that season…a lot.
It’s an Unexpected Motivator
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On the heels of what I just said, whether you observe Rosh Hashanah or the winding down of the year is simply when you choose to pause and reflect in preparation for the calendar new year that is to come, some people really like the fall season because it motivates them to set new plans and goals. In fact, when you get a chance, check out “Why Fall Is The Perfect Time To Prep For The New Year.”
Using the next couple of months to ease into the new year makes a helluva lot more sense than jotting something down on New Year’s Eve real quick and then pressuring yourself to follow through for the first month of January.
It Means More Time with Family and Friends
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There’s probably no other time in the year when you are able to spend so much quality time with your loved ones than during the fall season, especially if they live out of town. I mean, just Thanksgiving alone proves that. Plus, winter doesn’t officially begin until December 21, which means that if you take time off leading into Christmas to visit family as well — that’s two times in less than a month that you’ve been able to get in some family and friends bonding time. If you love being around your family, fall always gives you time with them to look forward to.
It Means More Fall-Themed Sex
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When you get a chance, check out “Here's How To Have Some Really Great Fall-Themed Sex.” A part of the reason why I wrote it is because, did you know that late fall/early winter are the best times of the year to get some nookie? If you don’t believe me, also read “Did You Know Fall & Winter Are The Best Times To Have Sex?”
Between it being darker for a longer period of time, science saying that rainy weather actually makes us hornier, and pumpkins being an aphrodisiac (among other things) — if fall wasn’t your favorite time of year before you read this, maybe it will convince you to change your mind. Enjoy your fall season, everybody! Oh, and read up on what the combination of pumpkin and lavender scents can do for your boudoir experience. Thank me later. #wink
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