Troy Millings, left, and Rashad Bilal of Earn Leisure Time
Source: Earn leisure time
Social influencers focused on financial education for the Black community are emphasizing the message of financial freedom this June 16 as the nation celebrates the end of slavery in the United States. USA.
Rashad Bilal of the Earn Your Leisure podcast told CNBC: “I definitely feel the June 16 anniversary should have some degree of economic understanding. “But I think the problem with the holidays is that regardless of whether it’s Christmas, Easter, New Year, everything is just seen as a celebration, and you lose its meaning.”
Bilal, a former financial advisor, added: “The importance of freedom both economically and socially on June 16 is something everyone should keep in mind every day.”
Earn your leisure timefocuses on financial literacy, has over 1 million followers on Instagram and is part of a growing movement of content creators providing market insights and tips , cryptocurrency, entrepreneurship and more.
“Let’s see where it goes. Maybe it’s not just this holiday or a week or Black History Month. What if we could have this economic conversation on a daily basis?” Troy Millings of Earn Your Leisure, a former gym teacher, said.
They are also making a clear connection between today’s financial freedom goals and the economic impact that slavery has on America and its black citizens.
Bilal said: “Understand that people literally die financially. That’s the real reason for slavery. It’s a financial system applied to free labor.”. “So when you see our ancestors actually sacrificed their lives and it was done to enhance economic status, it forces you to look at your finances. You don’t want to. just wasting your money. You can really use that money to change the trajectory of your family.”
Black Americans are at a disadvantage when it comes to wealth. According to a study by the Federal Reserve Released in 2020, average net worth of Black families in the United States is about $24,000. The approximate median net worth of white families is $188,000.
Other influencers spreading the message of economic liberation this June 16 include Ian Dunlap aka Main investor, Kezia Williamsthe Wall Street Trap, Philip Michael and Ross Mac. They have millions of social media followers and each has their own niche but all share the same goal of helping the Black community balance the books and build wealth.
Dunlap told CNBC he thinks economic freedom is as important as social justice. “If we don’t have economic freedom and financial literacy, we really don’t have justice,” he said.
Dunlap is calling on black Americans to pay special attention a 2017 report forecast that the median wealth of Black households will drop to $0 by 2053 and look for investment opportunities. “I don’t want our people, our children, our grandchildren to become poor and that is the challenge we face if we don’t act together,” he said.
Kezia Williams
Kezia Williams | Blacked out
Elsewhere, Williams calls herself a “liberation activist” as well as an influencer. Williams is the chief executive officer of Blacked outa company that provides education and support to early stage entrepreneurs.
In previous years, Williams has urged Black consumers to see June 13 as an opportunity to support Black businesses and post their receipts with the hashtag #myBlackReceipt.
“Invest in black entrepreneurs who will use the dollars you spend on their businesses to give back to their communities and create products and services that their communities we need, and at the same time build the wealth for their families that can be profitable for generations.” Williams said.
Meanwhile, Michael aims to help 100,000 Blacks become millionaires by 2030 through real estate. He boasts a $250 million real estate portfolio generated from $850,000 in seed money from a relative.
“The asset class that has created more millionaires than any other is real estate. It’s one of the ‘easiest’ ways to get there,” Michael told CNBC. “Really, what I want to do is normalize those conversations into a more conventional format, where we can talk about our portfolio as easily as we talk about our travels. worn or the shoes we bought.”
Philip Michael
Source: Philip Michael
The Earn Your Leisure podcast is considered a pioneer as an emerging space for financial influencers and has attracted many celebrities from the business, sports and entertainment worlds to discuss financial planning, their mistakes and goals. Those guests included Mark Cuban, Shaquille O’Neal and Steve Harvey.
The archives pair also created the hashtag #AssetsOverLiabilities which became their content philosophy and the motto used on t-shirts and other merchandise. Bilal and Millings, started their podcast in January 2019 with the goal of shedding light on Wall Street for the Black Community.
“We wanted to make learning about finance and wealth generation fun, we wanted to make it a casual conversation. I didn’t grow up with conversations like these. But imagine if we did? Imagine if at the barbershop we weren’t arguing about the best basketball player, but we were talking about the top companies, what can do for a neighborhood,” says Millings.
Bilal and Millings now believe Earn Your Leisure has evolved from creating content to actually educating the Black community about wealth creation.
“Education is something sustainable in the long run. In the formal context, the way you understand someone’s learning is that you judge it.” Millings said. “Our assessment is when we hear feedback when we’re out and about, and we see people and they tell us stories or when they email us and say, ‘what This changed my life.'”
