Earn Your Leisure Podcast Breaks Down Financial Myths, Investment Strategies + More

wake that ass up in the morning the breakfast club morning everybody it's dj envy and julie charlemagne the guy we are the breakfast club we got some special guests in the building yes indeed you signed over with charlemagne's uh or partnered up with no partner network we have the brothers from earn your legion what's up brothers what's going on how's everything good man how you doing i'm good i'm good i'm good so if you don't know break down who both of you individuals are individually and how you guys got together yeah for sure so i'm rashad um my partner troy yeah yeah so um we started earn your leisure's financial literacy business platform and it really started like two years ago the quick stories and i'm a financial advisor by trade troy is my best friend in life he's a teacher he was teaching in the bronx and um you know he was always trying to get me to go into the school and teach to the kids and i'm like i never understood why he wanted to be a teacher that's like breaking back into jail every time like you went to school your whole life to go back don't even make no sense we got a mission we got to be on that's a fact but now we i long story show i taught the kids and you know really just realize how important financial literacy was how much like people didn't know and even me being a financial advisor working with clients realized how people didn't know anything about finances at all so that led to us developing a six-week program um for in the summer for kids and then that led to just online and what we got now yeah i love i love talking to y'all i love listening to y'all simply because y'all know what the [ __ ] y'all talking about i'm serious man so many people don't know what they talking about but they try to sound financially literate and they're just stupid so it's good to have people from the culture who know how to talk finances how did y'all figure out a way to intertwine it so that messaging is digestible for people yeah i mean it was commonplace for us really you know i'm coming from education background so finance wasn't my thing and so i would be in conversation with him and a couple of other friends and it's like you never want to be the guy that can't be in the conversation and so you got to go back and learn and so when we started talking like that it was like all right this is cool and then we started teaching kids like he said and then we realized like the kids were learning but they were also telling their parents so i was like wait we can teach two people at the same time right if i teach a kid something he goes home now the parents know and so when we started talking um about the podcast shawty was doing like interviews on other people's platforms and they were like this is really good stuff like where's the extended dialogue like do you have your own and so he came one day he was at my house he was like yo you want to start a podcast and i'm like yeah let's do it and so right away we were like we're going to make it in our language because that's what we do we just that's how we talk right we don't have perfect diction uh we don't sound like we came from the wharton business school no disrespect for anybody that went there but it was like there's more people that sound and look like us so we're gonna grab those people will gravitate to us and that was really the plan yeah i always say like you know i had to learn business but i didn't have to learn culture i am the culture that's right you know i'm saying like this is just natural for us this is how we grew up listening to rap music we grew up on rap we grew up playing sports so it's natural you know i feel like you have to work hard to try to be something that you're not we just embrace who we are so you know we we talk about finance we talk finance we we wear our own merch sweaters hoodies you know sneakers we're not trying to be like you know ascot to know that no disrespect to anybody that does that but that's just no suit that's not who i am like that's not who we are so the people just really resonated to it because it's like for a long time anybody talking finance you had to say you went to an ivy league school you had to have a three-piece suit on especially if you was black you had to like go overboard just to kind of get some credibility but for us they see us talking just like we're in a barber shop but it's high level finance so it's interesting and it's like okay and then we bring you know entrepreneurs and investors on i know what they're talking about like dj envy so you know it's just it's just the whole vibe how did you get the name earn your leisure what did that mean yeah it's crazy so when uh he was starting his own campaign shall we start his own campaign he was like i need a hashtag to go with my campaign about financial literacy and so like it was his thing we were like yo if he's gonna make it let's just make sure he makes it if he wins we all win so he's like yeah i need a hashtag i need hashtag and i was like okay i got one for you i was like earn your legion and he's kind of like nah that's whack man i'm like nah it makes sense because it's like where we from people have seen us growing up they've seen us have nice cars they've seen us have the prettiest girls they see us going on vacation they don't realize the hard work they don't realize how many conversations we sat in the car like what are we gonna do they didn't see us going to school that night they didn't see us working two jobs they never saw all of that they just saw the end result but that's so many people right everybody sees the end result nobody sees the hard work so i'm like earn your leisure we that's what it has to be because it makes so much sense that we've earned these luxuries we've earned this freedom we got to go with it and so he was using it as a hashtag and then everybody was catching on and he stopped and everybody like one of my boys shout out to space he was like you know why you stopped i really thought that was dope and so he was like you really liked it i'm gonna start using it again and so when he had to come up with a name for the podcast we had two you know what's on the name you have it yeah i wanna do money power respect but i felt like npr that would be a good play on it yeah i know you know i think he would have been paid he probably would have wanted a half of the publishing i had uh my title was uh dumb rappers need teaching just a double entendre of it and again diddy probably would have came at us right now and so we were like you know what let's just use the hashtag that we have earning lisa that's ours nobody's using it and we went and it just ran now we're getting some of these guests how do you realize how do you figure out who's selling the truth and who's not because i know we've both been in the industry before where people say they do something and you look into history like you ain't really do nothing so so how do we actually have somebody on the show before that wasn't i didn't bring him up here charlemagne didn't bring him up here you might as well say the person's name but they didn't know what they were talking about have no clue no idea they even called my partner and asked him to borrow some of his homes to act like they his but that's another situation oh i thought you're talking about somebody else yeah no i think he's talking about the the woman no no no yeah her too but how do you charlemagne brought her up no yes you did but how do you uh go between you know who's telling the truth for who's not how do y'all do your due diligence yeah i mean we try to do as much research as we possibly can especially now god fortunately um god has provided us with a huge platform at this point so it's a lot easier but sometimes it's difficult because it's like everybody has different opinions and there's different stories so you might hear one story from one person another story from another person the unfortunate thing for us is that we're a media platform but we're we're a black media platform so people hold us to the highest level possible somebody can go on cnbc somebody can go on anywhere they come and earn your legion something comes out bad they like they're attacking the bros because they feel like they know us personally they would never call cnbc or abc so to answer your question i mean um we do as much research as we possibly can really try to vet people and uh but to be completely honest with it with you about it you know sometimes you don't know like i'm saying sometimes you get a good feel for somebody and people and then something might come out later on and then i think you just got to take the steps at that point to correct it if it's like if it's an issue you know what i'm saying take it down or you know what i'm saying go go through that because nobody's perfect but we definitely i think have done a good job um but you know like i said you know sometimes some people aren't who they who they say they are for sure that's a fact you know and another thing i i love the podcast is i i get to you know because a lot of this stuff is is you don't learn growing up right i went to college they don't teach you this in college they know there's certain things they don't teach my daughter's finally you know her major is real estate and and investing in real estate but like uh the brother i was on there i'm looking for now the the guy would truck him right oh alex alex shout out to alex good energy so when you go to the podcast there's so many different brothers it's not just real estate it's not just stocks it's different brothers and different people from our community that's making money now there's one brother the reason it intrigued me so much is because during the quarantine and pandemic everything was shut down but this brother was still making money because the roads were up because his trucks were delivering food and delivering you know pampers and delivering supplies to all these different places and he continued to make money but his initial investment wasn't a lot yeah and and the fact that you got uh teaching people these things is what makes me love this podcast you know what's so crazy that you say that is shout out to alex and um that's it's a great networking tool so for us i feel like it's we get to network with some of the brightest minds in every single industry like you said stocks real estate trucking it's not just one thing pacific so and then of course we would be stupid if we didn't utilize those resources so we got our truck we just got our truck shot to alex he's holding our hand through it we got a 18 wheeler out in atlanta with our emojis on it eyl university earn your leisure or plastic inside so it's crazy it's just like mg the mortgage guy shout out to mg um yeah we about to get a bunch of real estate properties but matt he's helping us out like stock wall street traffic like so a lot of the people that we actually develop relationships with are actually mentoring us and helping us actually so we're learning as we go too so this trucking thing is so interesting because it's like coming from new york i never looked at owning a truck as a viable option like i just saw trucks on the road but you never think about like out the way who actually is crazy because growing up down south that's what it was about get your cdl license to be a truck driver yeah yeah yeah but you're trying to talk about driving we're talking about but you get your cdl and you buy a truck like wax brother owned a couple of uh a couple of trucks yeah brothers out there what was your what was your favorite podcast if you had to say one the one that was the most enlightened and i take mine out of it i mean but besides mine what was it what was your favorite podcast we learned the the most about that wow i think matt's uh episode was crazy um because he was talking about real estate and we were sitting in my house and that strategy he had talked about creating that four three two one right living in in one apartment rent out the third go on to the next thing live in uh three bedroom or three apartments living once rent out the two and i'm sitting in my house like wait this is an amazing strategy like nobody told us this right and so like his was important to me just because we filmed it in my house when he's talking about these strategies i think wall street trappers episode 44 was important alex mobile homes it was the first couple that we had was adobe and um that was something that i had never so trucks was something we never thought about but the only time we spoke about mobile homes is when we looked at eight mile and it was like yo that's eight mile that's trailer park trash and it was like this is a business yep and so when that came or the only time you know um charlemagne cut a hole in his mobile home and would masturbate through that hole that episode was so important because first it was the first couple and we got to watch them grind from the bottom and make it to getting mobile homes but the most important thing is when we did that was like a year and a half ago they had spoke about their ambition to own a park one day and so a year later not only did they get a park they owned four parks and so we got to watch the growth we sat with them in the in the hood in chicago and uh watched them grow their business and their personal life and it's like you know this is incredible like this is what we need to see and then back to the part where you said that we not we're not taught about this being in education i'm sitting in the school knowing that these kids are not going to learn any of the things that i'm talking about so at a certain point was like are we complicit in this and so we have to make a decision like you said in the summer i was like we're going to teach the kids the things that they didn't learn in school so we taught those six weeks like it was a 10 months of school that they never got and now we're starting to see the the the offsprings of that we're seeing 14 year olds wanting to get into the vending machine business which is incredible we're seeing kids talking about trucking because they saw us do it it's incredible so the trajectory of their lives are going to change forever because of something that we thought of and had an idea i would say that it started with an id and an iphone and now look what it's turned into do you think the black community is beginning to receive enough access to financial literacy absolutely i feel like um financial literacy is a is a snowball that's turned into an avalanche anything you know i've been to envy um seminar with 2500 people in jersey and then they did the next that same night they did 1500. that's crazy like you know what i'm saying and i feel like it's only getting bigger so our platform is definitely i don't think if we started our platform five years ago it wouldn't have taken off the way it had it was just perfect timing and financial literacy is in season right now even if you look at the rappers like meek mill talking about buy crypto and buy stocks you hear rick ross talking about entrepreneurship more he talks about music these days so like financial literacy is something that is extremely extremely in vogue right now in our community and it's a good thing and hopefully it's here to stay but it scares me though i'm gonna tell you why it scares me it scares me when people say things and tell people thing and they don't know the the the knowledge of everything right because if you follow a rapper or you follow your favorite celebrity and they tell you to do something you jumped out there and do it and don't know what you're talking about you get got you know what i mean so that scares me a little bit when somebody just says go by cryptocurrency you know what i mean that's why i was laughing like that's scary you know if you don't break down what to do it can hurt rather than help and you know what and it's crazy that you say that and that's a valid point and that's why i think that i told you this on the phone um the financial literacy people and the investors and the entrepreneurs they have to be championed just like rappers because you shouldn't really begin yet no disrespect to rappers a lot of you know but nine times out of ten you shouldn't be getting your financial advice from a rapper that's right like we but we hold them in such high regards that if they tell us to do something we'll do it but they're not really in a position to to give that kind of advice because that's not really what they have been trained to do so the entrepreneurs and the investors are going to be the new superstars they're going to be the new rock stars and they're going to be champion because i feel like during the pandemic our platform skyrocketed and it's crazy because it's like at the beginning of march remember they said like if he wasn't an essential worker you couldn't go outside so i felt like we got deemed as essential workers not by the government by the people because it's like when you down on your luck this matters a lot of rappers had to cancel their shows they wasn't getting no money because they realized that they wasn't essential no disrespect is good entertainment but that's not essential that's what i'm saying it's like even when i look at the legacy like i told you i look at your legacy more so as a media mogul not not a radio personality like what i'm saying i feel like envy when he's done he's going to be remembered more as a don peebles now i'm saying a black billionaire real estate developer that's going to be more he's impacting more people with real estate than he is with playing music no disrespect to his music 25 years but he probably tell you nobody's like they saying he changed his life because he brought it home so we have to really focus in on financial literacy and take it very serious and elevate those people because these are the leaders of this generation because i don't care how fast you can run eventually you gotta retire right a rapper's career it's like a running back it's three years lucky i wonder if guys like don peebles do the community a disservice by not having more public conversations i mean this is a brother that owns damn near half of la's almost a billionaire if not a billionaire why people don't know who don peoples is because he's not champion by our community right if you're in the know you know him but if you don't you don't right and it's like like you said we champion rappers and entertainers because that's what we inspire to be that's what's been shown to us since we were six it was like that's the only one the way to become wealthy and what shawty's saying is correct we're teaching people there's a whole another avenue right there's 120 different avenues we've got that many episodes to show you that there's so many different ways to do it and so i always live by that point that in order everybody wants to be us we just got to see us right and so people haven't seen down people this pipe nobody even knows what he looks like i don't even know who he is right but when you see a guy like alex you see a wall street trap or you you see uh uh who pick pickle mobile homes elite you can be them and you can make money so like i listen to a rapper it's a transactional relationship i buy your music i get entertained you listen to a podcast you get the information you apply it you make money it's a totally different transaction and it's also the culture too and it's like i feel like for a lot of times no not don peoples but there was a different level of like black success versus everybody else and it was it was a gap but now when we see like like you said a lot of people probably don't even never even heard his name before but how many rappers come up here and like yo envy i just bought a property because they they know him like you know what i'm saying and he's of the culture he speaks the language dresses wit wears nice stuff nice watches and stuff like that so it's important for people to to relate to somebody and that's the good thing with our podcast too because it's like we got people that did time in jail we got people that went to harvard and anywhere in between and it's like somebody can identify with somebody but if there's only one projection of success where it's like you know you have to go to howard university you have to have curly hair and it's like you you in the neighborhood you might not be able to relate to that right so you just kind of automatically tune out and say it's not possible but now you're seeing so many different people like even caesar he he he went to jail like that's a success story like let me say he went to jail came back rehabilitated his life and now he owns all of paterson new jersey so how many people in in his neighborhood can say oh if he can do i know i can do it you know what i'm saying so it's complete and it's complete opposite right if he's a basketball star i know i don't have any talent in basketball do i have value in my neighborhood anymore if i can't play football if i can't entertain do i have value of course right and it's you got there's so many kids who who are not in that that area of expertise or talent and it's like well this is something you can do right you can start your own business so we got to talk to kids about that we got to show them like this is what legacy looks like this is what generational wealth looks like these are things that you can change your family's life even at the age of 14 we had young kids spurgo at the age of 14 he's selling t-shirts in philly right turns it into a dollar business and retires his mom i just spoke to the kids at my old school in the bronx they're looking at it like wait he's my age yeah he's your age and this is what he did with his birthday money 171 dollars invest in t-shirts goes to barbershops every saturday says guys this is my t-shirts i'm trying to sell it the guys in the neighborhood looking like i like this kid listen i'm gonna make sure that you sell out every saturday every saturday he goes to the barber shops he sells them out that turns into his own store now he's a landmark in the city of philadelphia he's a legend he's a legend 14 is the key like you know when you when you look at these kids even growing up like what what did you want to be like you wanted to be like a rapper you wanted to be like a basketball player you know that drug dealer down the block influenced me more than my teacher did why because they did the things that i want to do and that's why even with myself in which i never ch i never change up like i buy my watches i buy my jewelry i buy my cars but i do it i'm like i didn't have to sell drugs to do that i didn't play basketball to do that this is what i did and i tried to break it down because a lot of people don't break it down like you know no disrespect to to people's but he doesn't look like me he's black but he doesn't look like me he doesn't wear what i wear he doesn't dress what i dress so i'm not to a kid it's like he can't relate to that a kid could relate to me from queens shopping on jamaica avenue going to pass and get some stuff so they can't relate to that that's that's the difference i say and that's why i always say keep doing what you do with the way that you do it yeah now let me ask you one thing that you know i know that i had a problem with but people don't trust black people right away they'll trust grant cardone they'll trust all these white podcasts talking about finances is that why you come off as dominican did you have that problem at first as well like when people don't necessarily trust their own efforts no you know what's so crazy um honestly not bro um and i shout out to my man derek falcon and he said something focus on the people focus your attention on people that are interested in you so it's like even if somebody wasn't really paying us attention like that we was just focusing on the people that was interested in us and then after a while it's like you can't deny the truth they see like i'm a financial adviser i've been a financial father for 12 years so like you know how everybody always says like this isn't financial advice i'm not a financial i'm literally a financial advisor so and it's like our background and things that people that we meet it all speaks for itself so you can't you can't deny the truth i don't care whether it's black green yellow or whatever and i'm gonna tell you this too as far as black culture you know we move culture all over the world so when you see you know kids and friends singing jay-z's lyrics but they don't even speak english it's because they just look they look for black people black men especially especially as inspiration it's no different with financial literacy earn your lesion you know how many people hit us up in london i love your content but can you talk more about what's going on in uk because it's different and in my brain i'm like they don't have nothing like this in the uk they're asking somebody in america because they're looking at us as leaders so i kind of reverse that engineering where it's like a lot of times people say like people don't trust black people but i don't really know but i feel like people love black and you know what i'm peop but we can't take advantage of our community and a lot of us well i'm gonna say a lot of us but a lot of people do that that's the only reason why i started doing the uh the seminars because i was looking at somebody that looked like me charging people 10 000 for a seminar and i'm like you can't be for the people if you're charging people ten thousand for that knowledge when they could take that ten thousand and buy their first [ __ ] and i hated that and we just did that really to piss him off and it just took off from there jesus christ i just did it to piss them off and to get people to help and then it just took off but i just didn't like the fact that you could charge somebody ten thousand dollars and they could use that ten thousand and buy a [ __ ] you know i mean instead of getting the knowledge that you're not really giving them i think what you bring up is a good point because there's a thin line between in in the financial literacy community some people were saying like you should never charge you should charge whatever like i personally feel like you could always be able to charge for your services because it's like when nipsy hustle put out a hundred dollar mixtape he got championed that's right and i love nipsey one of the biggest nipsey fans in the in the world but i mean his music at the end of the day right not at first he didn't get champion because i was a big nip fan i'm like my pain hunted off but you didn't but you didn't bash him no no no no no no no no no no no you just didn't buy it so financial literacy i feel like if you write a book if you have a course like they charge a hundred dollars for that that's that's reasonable like you know what i'm saying we got a university where we have 300 webinars for 500 for the entire year that's reasonable if you're charging 50 000 if you're really trying to pillage the community that has to be addressed because now you're taking advantage of people so i feel like you can definitely charge for your expertise because that's what books are right yeah but it has to be done tastefully and you have to make sure that you add value so if you're gonna pay 50 i tell you to go to school bro no people go go go go go 30 to 50 000 for these seminars and they're getting got but that's that's an issue too it's like you're going to pay 50 000 to go to school right but you're not even going to think hey i'm going to five thousand dollars for that course whereas that course can actually generate you more than the fifty thousand that you would have paid to go to harvard or any of these prestigious schools so that that's in itself is is is let me ask you this envy because you you're a leader in the financial literacy movement and i know that's what you said on our podcast too as far as like some a lot of people take some people i won't say a lot some people take advantage of every community but especially what i'm saying so what do you what do what do you think would be good like do you think a council is needed to vet people properly like because no what do you think the solution is i think the good brothers just need to keep spreading the word you know i mean and i think once once once we continue to spread the word people understand not to go to that fake side you know i mean whoever it may be whether it's podcasts whether it's people doing seminars or webinars or or talking and and really and realize that somebody just because you're a celebrity doesn't mean you have the actual knowledge you know i mean somebody could ask me a million and one things about real estate i probably can answer 90 of it because i actually do it you know i mean remember we were talking we were talking on august and i was trying to buy that house i went through hell for that house i had i bought that house six months later but i had to fight that house i had to fight for it i had to you know file a list pending i had to do all types of things but i know about it and i try to teach anybody around here that's ever had a house or thing like i try to guide them because i got god i have i had to pay 12 interest rates before i had you know extra points of my [ __ ] like all types of [ __ ] that i went through as a real estate person so like dramas for instance you know he usually said ted i helped him buy his crib steph cakes who was a dj pair helping her get her [ __ ] you know because i want to help people like it's no it's no fun to be living in in a neighborhood by yourself i think that's the biggest thing right to answer your question about interview or even what y'all do success stories right mm-hmm whoever has the most success stories is ultimately going to come out on top yeah because i said the information is going and the product is going to sell itself right we can give 120 episodes for free we can be on instagram every day for free some people need more of an attention right they might need a private education and so we look at it like that like this is public and that's the private education so like what y'all doing we looked at it and like this is great how do we emulate that right and like i could have probably went to the seminar for free matt what i'm saying he probably could have gotten bought and paid we paid okay like i'm not going i know they put they put a lot of work into that even just learning to to say something like they got a load of the slums up there like i'm saying fernando you can't play with him like he's a legend people don't even know who he is he came on our podcast one of the you know dopest episodes for me like he's a legend sabine why they call him lord of the slums because he's in patterson and he owns like half a pass to play on words but you know even the people that we have speak at our seminar like you know jose the credit dude who uh when he was doing when he came on the show he had 300 in his bank account had no money and never spoke before in front of a crowd but he helped me and helped a couple of people do their credit and i was like i want you to speak same thing with matt matt has never spoke in front of a crowd at all he called me like yo should i wear a suit and i'm like yo bro you're a black dude to help people get loans like just tell your story you ain't got to wear no suit and it boosts his business like i try to help people in that very even sabine you know attorney you know she's she's never spoke in front of people but we try to get my opportunity in jobs so that people can continue on and teach their family and and you know and and and build our own black wolf and stop stop discounting the value of black entrepreneurs because we do that all the time and like people say like we want discounts and all that it's like if somebody put together a seminar and like stop now stop doing that stop trying to get in for free stop trying to if you if you're gonna go go support and learn something like you know i'm saying because we got no problem going to these state schools and paying 40 000 for student loans and you can't even get a job like i'm saying a black entrepreneur that put together a course for a hundred dollars an ebook for 59 and you like haggling them about it either buy it or don't but stop stop being cheap on your education because it's like we interviewed mark cuban yesterday shout out to mark good good dude and um i asked him like how how often do you invest in your education he said every day all day that's all i do i buy ebooks i buy courses i bought books and this guy's already up four billion dollars and he's like i got to stay up to date with every single thing he's talking about crypto ai all of that stuff so stop stop stop discount and this is just a broader conversation in general but we got to stop discounting the value of our entrepreneurs happens all the time like like even like when we spoke to derek and it's like the the kid in the neighborhood that six nine you know i'm saying that can dribble that's 14 years old you're keeping him out of trouble make sure he gets home don't let anything happen to him but the young entrepreneur that's out on the streets you know i'm saying selling nachos you you throwing him to the wolves good luck you know what i'm saying like stop not stop doing that because it's like you know what i'm saying these th these are brilliant minds like even the water boys in the land they just need some direction they need some help they need something but stop just throwing them to the to the wolves and like get out of here and just because it's like you're discouraging them and then when they turn to the streets it's because they got no support imagine if lebron if every game he went to they was like yo you suck get out of here he gonna be discouraged he's never gonna be able to grow but when people encourage him like you're gonna be the star you're gonna you're gonna be the next one you're gonna can i ride with you can i ride in the car with you but he don't have no money yet but you already thinking 10 years in advance yeah treat the entrepreneur the same way yeah we our most talented we try to give our least talent too right so like when that entrepreneur is done say that again brother troy that would work say that again most talented we tend to give our least talented too right so it's like your cousin who just came home from jail you know you need a job can can you hire him right but that wouldn't be the same case if he went to a five-star restaurant you'd be saying look are you michelin certified right so we got like what should i say we gotta hoard around our talent and make sure they make it right the kid who's understanding cryptocurrency or who's understanding coding right we need to clam around him we can't just say like this kid's going to the nba we gotta we gotta make sure he he makes it but even back to your point what you said about working together everybody that you named at that seminar we sat there and watched and said all right we're going to give them a platform too we didn't say like hey emmy has those people we said we got to give them a platform too so everybody that you named from your seminar we've given them a platform they've been on the podcast that brings more business to them you know so that's how you grow that's how you grow economics yeah we could have said like nah i haven't got them they they rock on him now we were like look that's great fernando is great but and envious and that's that's what we've built with earning alicia's exactly that's why matt loves us like matt always posts all this you would think that he was us like what i'm saying because it's like matt had 3 000 followers when i met him i ain't say like you have to have verified to come on the podcast come on the podcast i'm saying yeah 40 000 followers within the next 10 days so he he's a he's a very loyal person he never forgot that anybody credit dude we hit credit dude we need you to do something no problem bro what we need to do like you know what i'm saying right now he ain't doing that yeah he actually did our seminar and he was saying he was sick we were like oh man i hope he's all right the next day so yeah covered hello how long ago no no no no no no that was like two months jose get well soon bro we love you bro she's our lawyer now yeah yeah we got to keep teaching that you know teaching the youth even when it's difficult i never told the story so they stole my call a couple of months ago right which one the roads truck there's no more roads and um the young the young kids that stole it was like 15 16 17 right small world got back to me and um i was upset and i was like and i try to i try to get a meeting with the young young boys not the i didn't care about the car but my whole concern was you guys are stealing these cars making this money right when does this stop take this money and let me show you how to make money off of this money because you're gonna you're gonna [ __ ] around and gonna rob the wrong person they're gonna kill you you're gonna go to jail forever so let me show you how to make money with this and that's the conversation i'm trying to have with these youth you know i mean at first i was mad i was like [ __ ] that but then it was like i thought about i'm like yo it's a pandemic like these kids don't have nothing they [ __ ] up whatever you would have said i was about to flip this one as soon as i sold your truck this is the trunk i needed to get there come here but that's what it was let me teach y'all how to make money like you know you're robbing us you're taking cars you're making what ten ten ten thousand dollars let me show you how to take this ten thousand dollars buy a property you know you live on one floor rent out the top two floors now you always will have this property you gotta worry about it and you continue to do it and that but that's what i'm trying to do now is really help these youth i was mad they took my car a little bit with bastards but i just want them to start investing because i don't want to see none of them hurt your shot well so so to envy's point what is the smartest investment for a beginner is it real estate is it stocks i mean like what is it envy might might be different but for me stocks you know i'm saying that's always been my love about some of my passion i thought you could invest in stocks with 500 300 like that's the easiest way to go about it and it's like a lot of time people was like it's like double dutch what stock to buy but you can it's a thing called etfs exchange traded funds which is kind of like a basket of stocks so like in one etf qq right they have apple microsoft amazon tesla facebook google media paypal adobe all in one i think it's like 300 and like 20 something like that right now for one share of qqq so you can literally just invest in that and you got all of those companies and the great thing with the stock market is that you actually are investing in actual real companies like i love crypto but let's be honest if cryptocurrency disappeared today life would not change at all if the stock market disa we're in trouble big trouble because that's every company all of these apple microsoft google amazon like if all of those companies went away overnight we'd be on some i am legend type vibe so for me i i think i think stocks is the easiest way to go about it yeah i mean like you said the etf route is super powerful because we like to frame things in the terminal sports and so if you ever think of the all-star team we like to break it down like that you got lebron james that's comparable to apple and you got the western conference all-stars right lebron's on this team right so apple's inside of qq if lebron has a bad night this singular stop like that apple that's gonna go down right but if lebron has a bad night he's still got a.d on the team right you still had uh steph curry on the team they can carry us and so when he's in the etf it leaves the amount of risk that you would have if you had a single stock most people try to figure out what should i invest in these things look around you you have an iphone yeah you use microsoft yeah don't complicate it don't complicate it you pay verizon every month it's there right you oh you got do you shop on amazon have you been buying from wayfair and going to home depot during pandemic those are all companies that you can own so we had this conversation with uh um somebody from footlocker i was like how many passengers you got like 10 000 how much money do you think that is how much nike stock do you have none wait you could have actually had nike buy your sneakers for you right if you were invested in that stock when it was 90 in the pandemic it's at 140 now you would have they would have bought you sneakers but we're not thinking like that we're always taught to be consumers rather than investors and so we gotta that's what we're doing is like changing that mindset it starts with the mindset right it could be you could say real estate is it is the best way we can say stocks but first is the mindset and so once we start changing that mindset and getting people thinking about investing in ownership rather than consumerism we're going to see a dynamic shift and we're starting to see it now what's the difference between an etf and the s p 500 so that's an index fund so you've been doing your research yeah so the s p 500 standing imports 500 so when they say like the market is up the market is down they're not talking about every single stock on the market they're talking about either the dow jones or the s p 500 maybe the russell 2000 so s p 500 is 500 companies like a microcosm of the market so they got some consumer discretion some tech some auto and then they and they come all together for 500 so you can also that's another way to go as well that's more broad range so that's like all different areas the etf is just one particular area so like this marijuana etf so like yolo mj um canopy canopy grow all of those stocks are in like a marijuana etf so the index is like buying a whole grocery store the etf is like buying one owl in the grocery store yeah because i thought i was doing something i was talking to rashad you know my financial guy sleeping my dude humble you know during the pandemic he told me to you know buy a certain amount of stock right so i bought it and you know then some months later you see an extra 120 grand and you like oh shoot shot was like yeah but you got it i'm like what we got to talk after this but that's the truth that's what we do a lot of times like a lot of those people they put millions into into that thing but we put a couple of hundred thousand or a couple of thousand in there and you know we walk away like somebody told me the other day she was like yeah i put 300 into it and they made 1500 and i'm like that's great but now you know you got to think about this magic we put you know 3 million into it you know what i mean break down the difference rashad between stock options and the s p 500 oh yeah that's what everybody wants yeah everybody wanna know about the option so stock is like when you buy ownership of a company you know so it's like you buy one share um options is you're never really owning the stock but you're you're buying a contract where you have a future price so the price point like let's say apple is a hundred dollars right and you buy an option for let's say january 22 uh 20 20 22 right so it's like a year in advance so i'm buying a 120 option so i'm buying it with the anticipation that it's going to go up right so it's like you you're planning in the head that's what's called a call a put is when you do on the on the reverse side so a put is like okay it's a hundred dollars but i'm buying an 80 put meaning i think the stock is going to go down so the stock doesn't actually ever have to reach what we call the strike price the call order put to actually make money just has to trend in that direction this is what happened with the game stop situation so quickly about that like the big time investor he um you know they they had stocks so they he put a put on it and then put news out but then when the wall street bets crew came over 3 million of them yeah they they raised the price crazy so by them raising the price crazy they actually it was called the short squeeze they forced him out of his position because he was betting that the stock was going to go down the stock kept going up so as the stock is going up he's losing money so eventually you're going to have to sell your position or you're going to be left just with zero so he got short squeezed out of the position so yeah stock options is something that's really popular now because it's like the potential for gains like a regular stock you could make 10 like let's say it went from 100 to 10 to 110 you made 10 but that same 100 to 110 with the stock options you could potentially make a hundred percent yeah because yeah so when you when you're buying a stock option it has a bid in the ask right so the ask won't be the stock price so if apple was 100 the bid might be let's say two dollars right if that two dollars when the stock goes up to 110 120 if that two dollar bid now turns into ten dollars you know i made 800 percent 700 almost right on something just a trend so that's what people got to really understand it's really about the trend if it trends up you're going to make money if it turns down you you're going to lose money based on what you put or call or put proceed like b.i.g says strictly for live men not for freshmen not for free like proceed with caution just do your research because especially short-term options you could lose it's very volatile long-term options is is more less risky just make sure you know make sure you understand what you're doing because a lot of people are jumping in and they're losing money because they don't fully understand what they do if i ask you right now right if apple's at 135 in two years you think apple can be 150 you would say what yeah so that's like in two years so think about that that's a long-term investment in the stock option world not in the stock world long term would be five ten twenty years or you never sell it but in a short term two years for it to get to fifty raise fifteen dollars with all the products all right i'm willing to say it can do that like i'm gonna give you a play real quick that i did personally so cucu that meant that the etf i was telling you about is averaged 20 a year for the last 10 years 20 years every every year for the last no not every year but average 20 a year for the last 10 years right so i put a december uh 2023 call that's almost four years out right and i got it at 3 15 i put the call for 3 45 i did this like two months ago so that's only like 10 jump so all i needed for it to go was to jump 10 in four years so if it's average 20 for 10 years what's the odds of it not doing 10 percent for four years almost impossible right so it's already i think like 320 something like 335 right 335 so it's not even that but i'm already up 45 right so by the time that december comes we're looking at anywhere from a 400 percent 800 if i really get lucky rate of return the victory's already built in so now you can see you putting real money in 400 percent yeah 300 now we talking a whole difference and that's what you just said that's what you just said like the woman put in 300 percent got 1500 that's like 500 like we not we shouldn't sneeze at that right but if you had put in more like you said you would see a greater return our boy just hit us i didn't i just made three thousand percent and that's the game on wall street that's what they really plan that's how when you it's different the wall street money is different it's not athlete money it's not rapper money is different and these are kind of like derivatives these are the kind of words that we need to start to learn because they really playing a whole different ball game and they play with real money so now it's like when you start to put millions of dollars that compound interest looks a lot different yeah it's like you had the blackjack table you had the five dollar table over there the 10 billion dollar team you know he's doubling that that's a fact what are the what are the best ways for beginners to invest overall um yeah i think um investing like i said the etf route is a great way um index route like you're doing s p 500 great way companies that are just obvious i'll give you a few amazon apple microsoft you might have heard of them google yeah paypal nvidia um tesla tesla's a little more volatile tesla's going to be here you gotta have more money and it's a little more volatile situation um i think good on the airlines but that's so that even that says to something right we know that these things will come back they're part of our daily lives hotel stocks while cuban said to us last night casino stocks once people have the opportunity to be back out casinos are going to go crazy hotel stocks airbnb we already know that these things exist and they got slowed down because of corona when corona's not done but we have a better like grasp on it everybody's vaccinated and everybody's the rates go down those things are coming back cruise ships those things are coming back they just hit a wall because of the coronavirus but they're coming back so those are things that you look at like if you're looking down the road like where should i invest my money maybe for the next two three years and i'm just gonna keep it there yeah why wouldn't you talk to us about bitcoin because i don't get it bitcoin bitcoin i don't get it that's the best what don't you get about it is it worth investing because it feels like it's not anything right now it's like i'm spending money for a currency that's not even really a currency yeah it's definitely it's misleading cryptocurrency it's not a currency because it's like okay i can't my haircut cost twenty dollars today and then it's fifty dollars tomorrow you can't a dollar it has to be stable so there are some stable coins but bitcoin is not really a currency it's more of a store of value similar to gold that's why they call it digital gold it's my personal opinion bitcoin is here to stay it's here to stay because it's like it's indestructible we saw it was at three thousand dollars in march it's at fifty thousand dollars right now so it's been through ups and downs it's crashed governments tried to stop it and what really solidified it for me is when you see all the institutional money going so when you see elon musk put 1.5 billion dollars of tesla money into bitcoin when you see uh jamie dimon who's the head of chase bank a couple years ago he was talking about how bitcoin was trash at the same time chase bank was buying millions of dollars of bitcoin hedge funds all of these institutions are piling money into bitcoin there's no this is one of the reasons why it keeps going up so they're not stupid they're doing this for a reason and currency is already kind of like digital if you really think about it only 18 of actual money in circulation is physical money it's either debit cards credit cards paypal cash app so the idea is not that far um as far as cryptocurrency so i personally feel like bitcoin is here to stay now is use case still has to be worked out because if i'm not paying for something with bitcoin because it's an investment why would i pay you for something when i think it's going to go up so that still has to kind of be figured out like what is it actually going to be is it ever going to actually be used as currency or is it just going to be the new goal yeah i don't i don't think bitcoin itself will be the currency coin i think something like xrp um has a better chance like a ripple has a better chance just because of like you said institutional money being behind it and its functionality its functionality is to make transactions quicker right we always give that example if you had to get a million dollars from new york city to london what would be the fastest way if i had to do it the fastest way yeah transferred over my account no no the fastest way would be get on a plane with it and fly to london yeah right it wouldn't take you seven ten days ago no playing with no millions i mean what i'm saying but that's the only one so that would be the fastest way to do it you'd have to wait seven to ten days when you have an xrp that transaction can happen in less than 60 seconds right right and there are people who have that type of capital who need to make those type of investments and make those type of transactions they don't have seven tens of seven to ten days if you got a real estate deal and you need that money in by the next five days you can't wait seven to ten or fourteen you need to get that money there as fast as possible even xrp still not stable it's still a stable coin what mark zuckerberg could have did was literally taken over the world and they stopped him because it's like when facebook put that coin out they i don't know libra you heard that before i remember that yeah it was it was remember the currency it was gonna be a stable coin stable coin like it doesn't move right so that's perfect for currency because it's the same so you got to realize facebook has over a billion users right so imagine if they they was going to put out their own native stable coin and then you have products they overnight are amazon and they're the biggest country in the world at that point like china they they rival in china with their own currency imagine if one platform has 1.2 billion users with their own currency that's crazy they locked mark zuckerberg under the judge they stopped it exactly for some reason to lock his i already treated him like gaddafi i'm serious they stopped them they stopped them well give everybody your information so they could make sure they following you and getting up on everything that's new yeah yeah earn your leisure across all social media platforms shout out to see the guard definitely partnered on the uh situation we haven't even announced that yeah i wanted to do it on here on your platform so yeah check us out on all podcast streaming services um and yeah that's it man uh earn your leisure across all social media platforms youtube and once again one thank you our brothers for inviting us you know it says something about culture right because i was talking to my man chad from the 85 south shore this is like last summer when we was trying to figure out how to partner with 85 south shore and child like yo you know who y'all need to holla at rashad and troy and earn your leisure and i'm like what and he's like yeah man he's like man him brothers is giving our free jewelry that the community needs whatever whatever i was like well yo connect me with with one of them come in and connect you with rashad so it was just you know that's that's culture you know what i mean that's chad from the 85 south show putting me on to y'all that's how you know i i actually remember that moment i actually when you called i'm like that's wrong it's on the phone i was like but let me say the two before we leave um your reputation precedes itself at literally from wallow to mandy to chad i never heard anybody that said anything bad about you everybody say the same thing to your stand-up dude and when i spoke to you it was like i knew you for 20 years like you're just a real humble dude so i appreciate you appreciate that man you're asking the wrong people that's why [Laughter] and also i would be remiss if we didn't thank envy as well because he was the first celebrity like we've had shaq we've had mark cuban but he got the ball rolling for that and he was a man of his word um detroit troy met him up in dikeman he said he was going to do it and a week later a lot of time people like spin you give you assistance this [ __ ] really [Laughter] when people say just be in the room just be in the room it was crazy we were doing it um i had our program go to foot locker uh just as i told my wife was working at the time and um some of the guys that recognized me from the podcast i was like we're having this event we're opening the store in washington heights listen envy's gonna be there you should show up i'm like all right i'm gonna yeah let's let's go and so i'm like i got to get in this room i got in this room and i he i see him he's walking he was with your daughter at the time and he walks past me and i'm like no this isn't the time i don't want to interrupt the man when he's with his family and so i went up to him after he was sitting down for a while i'm like hey and he was like i know you guys are yeah i said we would love to have you on he was like let's do it give matt have matt hit it up and we'll set it up a week later we got it done i'm like yo that was so stand up because again the first guy we had interviewed a lot of people that was the first person that was like celebrity that we had on the show and it was a big moment for us so again appreciate you bro i got two things i want to do if we get out here i want to shout out uh since we're talking about don peoples and other people because i know they're gonna be googling don peoples gotta shout out cheryl mckissack cheryl mckissack daniel she's the ceo and president of mckissick and mckissick it's the oldest black-owned and female-run construction company in the united states and a couple years ago they had got a uh the contract to do the new construction at laguardia and the new terminal one at jfk so just just shouting out people absolutely you know shout out to her we don't talk about it you know and um my last question is what are the greatest financial myths we've been taught in the black community the greatest financial myth i think is that the harder you work you know that's going to lead to success and it's like shout out to my bro wall street trap he said something that was so profound to me it's like coming with working class environments we all know people that work two jobs pretty common right even three jobs sometimes overnight shifts and you may think about it i never met one person that worked two jobs that had more money than somebody that worked one job i never met one person that worked two jobs that had money they still broke and it's like the reason is because you're trading your time for money and that's not really how to get money you got to have your money work for you like and that's really the greatest greatest myth i think that we've been taught is like money doesn't grow on trees you got to work hard you got but that's it it's really crazy because it's like nah not really your money has to work hard for you because the harder you work for money you're just going to be burn yourself out and you're gonna be you're still gonna be broke at the end of the day so like i look i had a friend of mine never forget and he was like um this was like 10 years ago and he's older than me but he was like probably 30 at the time he was like you know i wish i would have been a firefighter and no disrespect i love firefighters or you know we come from blue class working environments but the point is i'm like why are you going to be a firefighter it's a dangerous job he's like you know just do a quick 30 years you get your pension you retire and i'm thinking to myself like quick 30. that's your life like you know what i'm saying but that's how we taught like just work a job just to get a pension but it's like it's so crazy because it's like if you put if if you put six thousand dollars into a roth ira for your child at 14 years old right and let's say it grows 12 by the time there's 60 at retirement there will be 1.1 million dollars in it so you could literally make your child a millionaire with six thousand dollars and now people is literally trading their whole life to get a pension to retire you could set your child up for six thousand dollars when they 14 have 1.1 million like don't even worry about your retirement's right there focus on what you want to do in life how many of us gave up our whole dreams our whole life to have a pension to have some security and we still don't have security so for me that that that's the greatest myth i think mine's the same along those lines it was like every every especially from a west indian standpoint my parents are jamaican it was like save your money save your money save your money put in the bank save your money until you grow and realize like the people that you're telling us to save the money with aren't doing that at all they're investing in your money they're investing your money right so if you ever try to go to the bank and say hey i need twenty thousand they're gonna tell you hey we need uh we got to give us a two day warning we need to know that you're coming to get that type of capital and it was like wait if i have twenty thousand in my account why can't i get it out it's because they're using the money to invest right they're making interest on it and you're making nothing on it and so when you start thinking about that it's like that can't be the route so it's along those same lines invest your money and fernando said that to us too he's probably the first person i had heard say it i treat every dollar like a worker if i had to work for you now you have to go work for me and so he's like look i don't want to be cash rich i have to have every dollar working we need to make money every day and so when you start getting that mindset like i said earlier it changes the game for you yep oh i got one more question and i'm not even i just want to hear what y'all answers i'm not even going to reply to it can black compassionate capitalism save the black community um compassionate capitalism i like how you put that uh yeah i think i think it could definitely help gene you know there's a lot of things that when you say save the community that's a broad statement but it definitely can help economic empowerment is the most important thing in my opinion and that's something that we never fully understood or figured it out and even like martin luther king's um he didn't get killed because he had a dream he got killed because he woke up and he saw you know how disenfranchised his last couple years that was his main thing economic empowerment the poor people's um movement and so this is something that we never have we still don't have to this day a economic structure in place and every other community has that so in order for us to have ever some some level of respect on on a large scale we have to take control of our finances because there's like dr claude anderson said as far as like you can buy politicians you can you can you can influence different things but without economic structure none of that is going to happen and i mean capitalism is where we at right now so this is the game that we're in as american citizens so either you partake in it or you don't partake in it but i personally don't have a problem with capitalism if it's done ethically if it's done correctly because i feel like you know everybody should have the ability to take care of their family and to you know you should be compensated for your services in a very respectable high manner as much as you possibly can yeah i feel like with a living embodiment everybody in this room right what you're doing as an entrepreneur what you're doing is even what uh angela he's doing as an entrepreneur we're the living embodiment of that dream of economic empowerment and like he said a lot of people a lot of communities are able to change things policies because they have the capital to sway right they can have the capitals if we don't have the capital we have to live with the conditions that they've given us and so the economic empowerment but also the mindset too we got to have those two things i don't know if it saves but it starts the conversation of drastic change we need y'all man two of the most important voices we got in our culture for real man appreciate it thank you all so much for stopping by please continue to teach this youth man appreciate you thank you thank you for having us earn your leisure it's the breakfast club good morning [Music] you

Channel: Breakfast Club Power 105.1 FM

Views: 569,117

Rating: 4.9245725 out of 5

Keywords: the breakfast club, breakfast club, power1051, celebrity news, radio, video, interview, angela yee, charlamagne tha god, dj envy

Id: EjoHGt6sZPc

Length: 54min 18sec (3258 seconds)

Published: Wed Feb 17 2021