Earn Your Leisure
Earn Your Leisure

Earn Your Leisure

EYL Network

Overview
Episodes

Details

Welcome to The Earn Your Leisure Podcast. Rashad Bilal and Troy Millings will be your host. Earn Your Leisure will be giving you behind the scenes financial views into the entertainment and sports industries as well as highlighting back stories of entrepreneurs. We will also be breaking down business models and examining the latest trends in finance. Earn Your Leisure is a college business class mixed with pop culture. We blend the two together for a unique and exciting look into the world of business. Let’s go!! #earnyourleisurepodcast

Recent Episodes

Trusts vs. Wills: The Ultimate Guide to Protecting Your Legacy
NOV 2, 2024
Trusts vs. Wills: The Ultimate Guide to Protecting Your Legacy

Welcome to another enlightening clip of EYL! Today, we dive deep into the crucial topic of estate planning with our esteemed guests, Melanin Money, Carter Cofield, and George Acheampong Jr., guided by our hosts Ian Dunlap and Rashad Bilal. Understanding the difference between a trust and a will can be overwhelming, but it's essential for effective estate management and wealth preservation.


*Key Highlights:*


0:00 - *Episode Introduction*

  • Ian opens the conversation about the significance of estate planning and the general confusion around trusts and wills.


0:17 - *Unpacking Wills and Trusts*

  • George Acheampong Jr. explains the fundamental differences between a will and a trust, emphasizing the control and flexibility that a trust offers.


1:57 - *Revocable vs. Irrevocable Trusts*

  • Carter Cofield elaborates on the tax benefits of a revocable trust and why it can be a powerful tool for avoiding probate court. He also shares insights into the specific scenarios where an irrevocable trust might be necessary.


4:33 - *Real-life Examples and Tax Implications*

  • Case studies like Chadwick Boseman’s estate highlight the potential pitfalls of not having a proper trust in place. Carter explains the crucial tax advantages and how a revocable trust can save heirs from heavy tax burdens.


5:16 - *Life Insurance and Family Wealth*

  • Rashad brings up the strategy of buying life insurance policies on family members. George and Carter discuss how this approach, often overlooked in their community, can significantly contribute to generational wealth.


6:44 - *The Importance of Disability Insurance*

  • George shares a personal story about a health scare and the vital role of disability insurance in securing one's income during unforeseen circumstances.


9:26 - *Business Partnerships and Insurance*

  • The guests discuss the necessity of having life insurance and buy-sell agreements within business partnerships to ensure continuity and financial security.


10:15 - *Structuring Business for Tax Efficiency*

  • Carter provides valuable advice on the optimal business structures to maximize tax deductions and protect partnerships from financial discrepancies.


This clip is filled with invaluable insights, practical advice, and real-life examples that can guide you in making informed decisions about estate planning, whether for personal or business needs. Don't miss out on this opportunity to learn from the experts and ensure that you and your loved ones are financially secure for generations to come.


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*🔔 Don't forget to like, subscribe, and hit the notification bell to stay updated with our latest episodes!*



#EstatePlanning #TrustsVsWills #GenerationalWealth #FinancialFreedom #EYL #MelaninMoney



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12 MIN
EYL #313: How to Go from 9-to-5 Employee to 6-Figure Entrepreneur with David Shands
OCT 31, 2024
EYL #313: How to Go from 9-to-5 Employee to 6-Figure Entrepreneur with David Shands

In this week's episode of *Earn Your Leisure*, we sit down with entrepreneur David Shands to break down the journey from a 9-to-5 employee to a 6-figure entrepreneur. David shares insights on what it takes to make six figures, defining it as earning between $100,000 and $999,000 annually and examining the difference between gross income and net income.


We dive into the essentials of launching a successful business, covering **Product, Price, and Promotion**:


**Product**: Whether you're offering a tangible product or a service, it should be easy to produce, deliver, and pay for. More importantly, it must solve a real problem for customers, going beyond just being a good idea.


**Price**: Set a price that provides at least three times the perceived value. Through effective storytelling, position your price at a level that feels comfortable for you, and consider recurring revenue models to reach your income goals.


**Promotion**: Gain visibility through hustle or leverage. From social media strategies to email and text marketing, discover ways to expand your reach and share your offerings with a larger audience.


Don’t miss this comprehensive guide on how to escape the 9-to-5 and start building a business that brings financial freedom!


#EarnYourLeisure #DavidShands #Entrepreneurship #SixFigures #9to5ToEntrepreneur #SmallBusiness #FinancialFreedom #ProductPricePromotion #BusinessGrowth #SideHustle #InvestInYourself



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108 MIN
Should the Department of Education Be Dismantled? With Secretary Miguel Cardona
OCT 28, 2024
Should the Department of Education Be Dismantled? With Secretary Miguel Cardona

In this week’s episode of Market Mondays, we are thrilled to sit down with the U.S. Secretary of Education, Miguel Cardona. Join host Rashad Bilal as he dives deep into the pressing issues facing our education system today. This episode covers a broad range of vital topics, including the controversial debate around dismantling the Department of Education, the critical role of equity in education, and the systemic challenges impacting black and brown communities.


Secretary Cardona opens the discussion by addressing the potential consequences of dismantling the Department of Education, particularly for marginalized communities. He underscores the importance of the Department in ensuring equity and holding institutions accountable. "If the Department of Education is not doing their job to make sure that special education equity happens, racial equity happens, to make sure that public education is a right, not something that you pay for... we're going to have a system of the have and have nots," says Secretary Cardona.


Rashad and Secretary Cardona also delve into the complex structure of the U.S. education system. While Secretary Cardona shares his multifaceted experience—from being a principal to a state commissioner—he explains the federal role in distributing funds and enforcing civil rights laws. He elaborates on the challenges of ensuring educational equity across states and districts with varying resources and policies.


A particularly enlightening segment of the conversation centers around the concept of education reform—how to bridge the gap between schools in affluent communities and those in lower-income areas. Rashad probes the idea of overhauling the education system to be more centralized, questioning whether it could level the playing field for all students. Secretary Cardona responds thoughtfully, emphasizing the need for equity and local accountability while cautioning against the risks of federal overreach.


"I don't want the federal government telling every school system what to do... I want to make sure that I'm fighting for equity, for evolution, for outcomes of results," Secretary Cardona articulates, stressing the importance of maintaining a balance between oversight and local autonomy.


The episode also touches on hot-button issues like curriculum content and the politicization of education. Secretary Cardona warns of the dangers of removing critical historical narratives such as African American history and discriminating against students based on their sexual orientation. He calls for active engagement and vigilance from the public to uphold the values of equity and inclusion in the education system.


Finally, Secretary Cardona’s call to action is clear: "People got to get active, they got to get engaged, and they got to start speaking up for what they believe to be the values of this country." This episode is a must-watch for anyone passionate about the future of education and the fight for equitable and inclusive learning environments.


Don’t miss out on this insightful conversation! Make sure to like, comment, and subscribe for more impactful discussions on Market Mondays.


Hashtags:

#MarketMondays #Education #SecretaryCardona #PublicEducation #EquityInEducation #EducationReform #RacialEquity #CivilRights #AmericanRescuePlan #EducationalPolicy #InclusiveEducation



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7 MIN
8 Dividend Stocks You Can't Ignore in 2025
OCT 26, 2024
8 Dividend Stocks You Can't Ignore in 2025

Welcome back to another insightful episode of Market Mondays! 💼 In this installment, Rashad Bilal and Ian Dunlap dive deep into eight dividend stocks that should be on your radar as we move through 2025. 🎯


Timestamps:

00:00 - Introduction

00:07 - Chevron: Worth the Investment?

01:04 - Verizon: A Reliable Choice?

01:43 - Pfizer: Potential for Growth?

02:30 - UPS: Long-Term Investment?

02:56 - T. Rowe Price: Underrated Gem?

03:35 - CVS: Past its Peak?

04:52 - Kraft Heinz: To Buy or Not to Buy?

05:51 - Sirius XM: Warren Buffett's Move?


Featured Stocks:


1. *Chevron (CVX)* 🌍💧

  • Known for its strong long-term returns, Chevron has had a rocky year but is expected to bounce back. Rashad discusses the price points at which this stock becomes a worthy investment.


2. *Verizon (VZ)* 📶

  • A utility-type stock that pays a solid dividend, Rashad and Ian talk about why this company is a buy below $34 and how it fits into a diversified portfolio.


3. *Pfizer (PFE)* 💊

  • Despite some management issues and the loss of exclusive rights to key drugs, Pfizer still holds promise, especially if you can get it at the right price points: $24, $15.46, or $23.10.


4. *UPS (UPS)* 📦

  • A great stock for long-term holds, UPS remains a stable investment option, although the sector's competitiveness needs consideration.


5. *T. Rowe Price (TROW)* 📈

  • Known for its decent dividends and being a stalwart in the financial space, Rashad expresses his approval for this stock, especially if it dips to $100 or below.


6. *CVS (CVS)* 🏥

  • Once a pandemic darling, CVS is now struggling. It's a potential buy only if it drops to $31. Rashad warns against chasing dividends in underperforming companies like this one.


7. *Kraft Heinz (KHC)* 🍔

  • A controversial pick, mainly due to concerns about product quality. Rashad and Ian discuss why this may not be the best dividend stock for your portfolio.


8. *Sirius XM (SIRI)* 📻

  • Mystery surrounds Warren Buffett's significant stake in this company. Rashad and Ian debate possible reasons behind this intriguing investment, while also questioning its growth potential.


Key Takeaways:

  • *Price Points Matter:* Whether it's Verizon at $34 or UPS at $124, knowing the right price points can make or break your investment strategy.
  • *Sector Leaders vs. Followers:* Rashad insists that you should aim to invest in sector leaders like Nvidia rather than laggards just for the sake of dividends.
  • *Management Concerns:* Companies like Pfizer show that poor management can severely impact stock value, making due diligence crucial.
  • *Future Uncertainties:* Stocks like CVS and Sirius XM demonstrate the importance of considering future market conditions and competition before investing.


Join us as we dissect why these companies are worth a closer look and how to navigate the complexities of dividend investing in the current market climate. Whether you are a seasoned investor or just starting, Market Mondays has you covered with the insights you need to make informed decisions.


Don't forget to like, share, and subscribe for more weekly market insights! 📈🔔


Related Videos:

  • *Investing in Tech Stocks for 2023*
  • *Should You Buy Real Estate Now?*
  • *Top 5 Crypto Picks for the Next Bull Run*


#MarketMondays #DividendStocks #Investing #StockMarket #FinancialFreedom #Chevron #Verizon #Pfizer #UPS #TRowePrice #CVS #KraftHeinz #SiriusXM #WarrenBuffett #InvestSmart #StockTips


Tune in to level up your investing game! 🌟



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6 MIN
EYL #312: Build Generational Wealth: Million-Dollar Tax Deductions, Investing for Kids, & Life Insurance Hacks
OCT 25, 2024
EYL #312: Build Generational Wealth: Million-Dollar Tax Deductions, Investing for Kids, & Life Insurance Hacks

In this episode of Earn Your Leisure, we sit down with Carter Cofield and George Acheampong Jr. from Melanin Money to explore crucial financial topics and wealth-building strategies that directly impact the Black community. They share insights into why financial literacy has historically been neglected in Black culture, highlighting the importance of education in creating lasting change.


Melanin Money's mission is to close the wealth gap by $100 billion, with a focus on helping 1,000 people of color achieve financial success. They dive into how the IRS has designed the tax code to benefit entrepreneurs and investors, offering strategies that can be leveraged to maximize wealth and minimize taxes. Financial freedom, they argue, should always be the ultimate goal.


We also discuss the tax limitations of traditional partnerships and why life insurance is an underrated strategy to close the wealth gap. Carter and George explain the importance of buy-sell agreements for business partners and outline the key differences between a will and a trust fund when planning for the future.


The conversation touches on the fundamentals of building wealth, with an emphasis on passing down not just money but also a positive mindset, which can have a far greater impact on future generations. They offer actionable advice on how to invest for your child’s future, ensuring that they have a strong financial foundation.


For financial advisors, Carter and George provide tips on staying compliant on social media while building your brand. They also explain how to convert $36,000 from a 529 plan into a Roth IRA, as well as investment strategies that anyone can use to get ahead in today’s market.


We explore the differences between revocable and irrevocable trusts, offering clarity on how these tools can be used in estate planning. Additionally, they share powerful tips on how to write off $1 million in your business and, perhaps most importantly, how to get a tax deduction while making sure your child has six figures by the time they turn 18.


Tune in to this insightful episode and learn how to secure your financial future while closing the wealth gap!


#FinancialFreedom #MelaninMoney #WealthBuilding #TaxStrategies #GenerationalWealth #LifeInsurance #Investing #Entrepreneurship #TrustFund #529Plan #RothIRA #FinancialAdvisor #WealthGap #earnyourleisure


Melanin Money Freebie link:

https://cofieldspeaks.clickfunnels.com/optin-598929031726630282598



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64 MIN