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
The Many Benefits Of Drinking Celery Juice
Over the last couple of years, celery juice has become the latest wellness drink to mark the start of everyone’s healthy-girl era. From Pinterest mood boards to side table aesthetics and countless influencers lauding its benefits, it seems like everyone has something amazing to say about this refreshing, nutrient-packed beverage. And with all the praise and touting, it makes you wonder: is it really worth the hype?
Well, it just might be.
Celery is a veggie that might have gone more years being slept on had it not been for its recent spike in popularity. Now that health and fitness gurus have found that it’s best consumed in juice form, its source of vitamins, minerals, and antioxidant compounds has gotten the spotlight.
Although it does have lower fiber content compared to raw celery, and there hasn’t been conclusive research that backs the popularized health effects of celery juice, there are still undeniable benefits of incorporating celery into your diet, and here are a few:
Celery juice is rich in antioxidants:
One of the main benefits of celery juice is that it is rich in antioxidants, which are compounds that protect your body from damage caused by free radicals. Antioxidants in celery juice can help prevent oxidative stress, which can cause chronic diseases like cancer and heart disease, and promote overall health.
Celery juice supports digestion:
Celery juice can help improve digestion by increasing the production of digestive juices and enzymes, which can improve nutrient absorption and prevent digestive issues like bloating and constipation.
Celery juice can lower inflammation:
Another benefit of celery juice is its ability to reduce inflammation in the body. Chronic inflammation is linked to many health problems, including arthritis, asthma, and autoimmune diseases. The anti-inflammatory properties of celery juice can help reduce the risk of these conditions and promote overall health.
It supports heart health:
Research has shown that the intake of celery extract can aid in stroke prevention, blood pressure reduction, and artery plaque reduction. Because celery juice is rich in potassium, it can help lower blood pressure, reduce the risk of heart disease, and keep your blood flowing.
Celery juice can boost your immunity:
If you’re not already sold on the powerhouse nature of celery juice, I can’t forget to mention that it’s packed with vitamin K, vitamin C, potassium, and folate. These nutrients can help improve bone health, boost immunity, and support heart health. Additionally, celery juice is low in calories and high in water content, making it an excellent choice for those looking to lose weight or stay hydrated.
So if you’re looking for ways to incorporate celery juice into your diet, one of the simplest ways to do it is to drink it on its own in the morning before breakfast. This can help jumpstart your digestion and provide a boost of energy for the day ahead. You can also add celery juice to smoothies or use it as a base for soups and stews, or enjoy celery sticks throughout the day for a healthy and refreshing snack.
When making celery juice, it is important to use fresh, organic celery to ensure maximum nutrients and flavor. Wash the celery thoroughly and remove any dirt or debris. Then, chop the celery into small pieces and blend it in a juicer or blender until smooth. You can strain the juice to remove any pulp or enjoy it as is for added fiber.
So whether you drink it, snack on it, or blend it up with your morning smoothie, the benefits of adding celery to your diet are endless. We all want to feel and be our healthiest selves, and if a cup of celery juice a day can help us get there, then I say it’s worth a try.
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