Rashad Bilal and Troy Millings are two highly knowledgeable individuals in the realm of personal finance. They have established Earn Your Leisure, a groundbreaking media platform that aims to make financial literacy accessible to everyone. One key aspect of their approach is their down-to-earth style, often featuring interviews with notable figures like Steve Harvey, who candidly discuss their own experiences with high-profile economics.
Last year, I had the honor of being a guest on their renowned podcast, which we recorded at the Jalen Rose Leadership Academy in Detroit, Michigan. And now, it’s time to welcome these financial experts onto “Renaissance Man.” On the show this week, we delved deep into the topic of how athletes and celebrities can lose their fortunes and who should bear the responsibility for it.
However, Rashad and Troy also emphasized the importance of personal accountability when it comes to money, regardless of the amount one possesses. They debunked some of the most prevalent money myths that often lead people to lose control of their financial situation. We are truly fortunate to benefit from their advice. Let’s explore some of the biggest false beliefs that hinder economic independence.
“One of these fallacies is the notion that the harder you work, the more money you’ll make. This isn’t necessarily true,” Rashad explained, highlighting it as a mindset associated with the middle class. Merely working tirelessly with multiple jobs won’t lead to financial freedom. Instead, it is essential to take a step back, analyze one’s financial prospects, and make wise long-term decisions.
Rashad concluded that moving slowly actually provides a better advantage in achieving financial independence. Both Rashad and Troy stressed that investing is not exclusively for the ultra-wealthy. Anyone, regardless of their financial situation, can invest. Troy shared an insightful conversation he had with a 26-year-old who believed they couldn’t invest due to a lack of funds. However, there is always money that can be redirected towards investments, even if it’s a modest sum. Over time, these investments can have a real and tangible impact on one’s wealth.
Earn Your Leisure is not merely advocating for financial success; they are actively practicing what they preach. They are organizing InvestFest, one of the world’s largest personal finance conferences centered around navigating the stock market. This event, which takes place in Atlanta, Georgia, showcases the ultimate goal Rashad and Troy have in mind.
In communities and economic circumstances where investing and saving are not commonly discussed, it is crucial to change the narrative surrounding money. Rashad believes that media has the power to reshape these conversations and paint a different picture than the one traditionally provided to us.
Jalen Rose, a native of Detroit, is a former member of the University of Michigan’s iconic Fab Five basketball team. He later enjoyed a 13-season career in the NBA before transitioning into a successful media personality. Additionally, Rose is an executive producer, a best-selling author, a fashion tastemaker, and a co-founder of the Jalen Rose Leadership Academy, a public charter school in his hometown.
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