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
How Content Creators Hey Fran Hey And Shameless Maya Embraced The Pivot
This article is in partnership with Meta Elevate.
If you’ve been on the internet at all within the past decade, chances are the names Hey Fran Hey and Shameless Maya (aka Maya Washington) have come across your screen. These content creators have touched every platform on the web, spreading joy to help women everywhere live their best lives. From Fran’s healing natural remedies to Maya’s words of wisdom, both of these content creators have built a loyal following by sharing honest, useful, and vulnerable content. But in search of a life that lends to more creativity, freedom, and space, these digital mavens have moved from their bustling big cities (New York City and Los Angeles respectively) to more remote locations, taking their popular digital brands with them.
Content Creators Hey Fran Hey and Maya Washington Talk "Embracing The Pivot"www.youtube.com
In partnership with Meta Elevate — an online learning platform that provides Black, Hispanic, and Latinx-owned businesses access to 1:1 mentoring, digital skills training, and community — xoNecole teamed up with Franscheska Medina and Maya Washington on IG live recently for a candid conversation about how they’ve embraced the pivot by changing their surroundings to ultimately bring out the best in themselves and their work. Fran, a New York City native, moved from the Big Apple to Portland, Oregon a year ago. Feeling overstimulated by the hustle and bustle of city life, Fran headed to the Pacific Northwest in search of a more easeful life.
Her cross-country move is the backdrop for her new campaign with Meta Elevate— a perfectly-timed commercial that shows how you can level up from wherever you land with the support of free resources like Meta Elevate. Similarly, Maya packed up her life in Los Angeles and moved to Sweden, where she now resides with her husband and adorable daughter. Maya’s life is much more rural and farm-like than it had been in California, but she is thriving in this peaceful new setting while finding her groove as a new mom.
While Maya is steadily building and growing her digital brand as a self-proclaimed “mom coming out of early retirement,” Fran is redefining her own professional grind. “It’s been a year since I moved from New York City to Portland, Oregon,” says Fran. “I think the season I’m in is figuring out how to stay successful while also slowing down.” A slower-paced life has unlocked so many creative possibilities and opportunities for these ladies, and our conversation with them is a well-needed reminder that your success is not tied to your location…especially with the internet at your fingertips. Tapping into a community like Meta Elevate can help Black, Hispanic, and Latinx entrepreneurs and content creators stay connected to like minds and educated on new digital skills and tools that can help scale their businesses.
During a beautiful moment in the conversation, Fran gives Maya her flowers for being an innovator in the digital space. Back when “influencing” was in its infancy and creators were just trying to find their way, Fran says Maya was way ahead of her time. “I give Maya credit for being one of the pioneers in the digital space,” Fran said. “Maya is a one-person machine, and I always tell her she really changed the game on what ads, campaigns, and videos, in general, should look like.”
When asked what advice she’d give content creators, Maya says the key is having faith even when you don’t see the results just yet. “It’s so easy to look at what is, despite you pouring your heart into this thing that may not be giving you the returns that you thought,” she says. “Still operate from a place of love and authenticity. Have faith and do the work. A lot of people are positive thinkers, but that’s the thinking part. You also have to put your faith into work and do the work.”
Fran ultimately encourages content creators and budding entrepreneurs to take full advantage of Meta Elevate’s vast offerings to educate themselves on how to build and grow their businesses online. “It took me ten years to get to the point where I’m making ads at this level,” she says. “I didn’t have those resources in 2010. I love the partnership with Meta Elevate because they’re providing these resources for free. I just think of the people that wouldn’t be able to afford that education and information otherwise. So to amplify a company like this just feels right.”
Watch the full conversation with the link above, and join the Meta Elevate community to connect with fellow businesses and creatives that are #OnTheRiseTogether.
Featured image courtesy of Shameless Maya and Hey Fran Hey
This Couple Got A Second Chance At Love After A Six-Year Break & 10 Months Later, They Got Married
Have you ever wondered if real love is like a romance novel? For Kai, 50, and Hicham, 46, Bouhmad, it is. Kai, who is an adventurer at heart, meets a stranger who believes she would be a great match for his friend, who happens to be Hicham. They connected on Facebook and, after a few exchanges, decided to meet, and while they had a great first date and continued dating shortly after, adventure was calling, and Kai decided to break it off.
However, six years later, another stranger would bring them together, and they reconnected. We can agree that at this point, they were meant to be, and in ten short months, they got married on Valentine’s Day.
Sounds like something out of a novel, right? xoNecole had the opportunity to chat with the lovely couple about their wedding, reconnecting, and having a second chance at love.
Photo courtesy of Kai and Hicham Bouhmad
Kai and Hicham on Meeting for the First Time
Kai and Hicham got married on February 14, 2023, in Honolulu, Hawaii in an intimate ceremony, and plan on having a reception in Morocco, Hicham’s home country, later on. One of their wedding guests was the person responsible for their union, Hicham’s friend Kareem. Kai reflected on that day when they met.
“I was at a party, and a guy walked in and was like, what’s going on in here? And I was like, well, this is a salon party for the salon that just opened, and they had free food and stuff, and I was like do you want some food?” Kai shares.
When they began talking, Kareem brought up Hicham. “He was like, 'I have a friend that I want to introduce you to if you’re single,' and I said, ‘Yeah, that sounds cool.’ So, he was like, 'Well, I’m gonna send you his Facebook information. If you guys can talk on Facebook and see how you guys like each other.' So, that was six years ago, and we talked, and we got along pretty well, and then we started dating.”
Kai and Hicham Describe Their First Date
Because both of them are into the arts, they decided to go to the movies on their first date. At that time, Loving was in theaters, and according to Kai, she knew when she saw him that she wanted to marry him. “I just had that feeling,” she reveals.
Hicham also recalls their “wonderful” date that extended after the movies at a nearby restaurant. “It was a wonderful moment when we made eye contact,” he says.
Photo courtesy of Kai and Hicham Bouhmad
Their Breakup and Reconnection
While Kai saw Hicham as her husband, she wasn’t ready to settle down, but Hicham was. So, they decided to go their separate ways, and Kai began traveling the world. But little did she know that six years later, she would see him again. This time, Kai was visiting an art gallery that had just opened up and began talking to the art gallery owner.
“She [art gallery owner] said, ‘I’m having an art opening, the studio just opened, and we’re having a party next week, and you should come, and my boyfriend has a lot of friends, maybe I’ll introduce you to some of his friends,’ and I was like ‘Oh, okay,’ Kai recalls.
“And at this time, I had already booked my ticket to go to Morocco to explore by myself, solo travel. So I said, 'Oh yeah, this will be fun.' This was in April, and my trip to Morocco was just in August. So, I said, ‘Yeah, I’ll come to your little party, I’m there.’ I’m talking, and then she said 'Oh, my boyfriend is here, and here’s one of his friends.' One of his friends was Hicham.”
This happened on April 23, 2022, and they have been together ever since.
When Hicham reappeared in her life, Kai knew she was now ready to settle down. “I honestly got tired of doing stuff by myself. I was tired, everything I have to do by myself, and I just got tired of that,” Kai explains. “I just felt like I really wanted a partner who’s really supportive and generous and kind, and I really wanted a partner that was by my side.
One of the ways that Hicham convinced Kai to give him another shot was when he wore a cactus shirt to her house, which showed the journalist how much he paid attention to her. “I love cactuses ‘cause it reminds me of the desert. It’s bohemian, I love desert cactuses. When he showed up with a cactus shirt on, I just could not resist,” she says. “That sounds cheesy and cliche and might sound silly, but it just symbolized that he knows me deeply and what I love and paid attention to stuff I care about even though it was silly. That meant a lot.”
Not long after, Hicham knew it was time to pop the question. “Kai gave me [an] indication that she was ready, and so that’s how that all happened.” He continues, “dropping hints, and she was pretty much ready, and I proposed to her.”
Kai admits that they planned their engagement together, including ring shopping, engagement photos, etc.
Photo courtesy of Kai and Hicham Bouhmad
Advice on Finding Love Again
This is both Kai’s and Hicham’s second marriages, and they gave advice on finding love the second time around. They both share the same sentiment about being open and optimistic. Both come from different cultural backgrounds and while that alone could have held them back from pursuing one another, they were open to love.
“Get out of your comfort zone and don’t limit yourself and don’t fear to fail because from failure you learn to build yourself up,” Hicham says.
And at the end of the day, it’s important to establish a friendship first. “Another [piece of] advice, just make sure you like the person,” Kai says, “and that’s really important because you have to make sure even if you have a disagreement or arguments, at the end of the day, you have to ask yourself, do I like this person? And just make sure you really like them.”
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Feature image courtesy of Kai and Hicham Bouhmad