Transcript of You Deserve to Be Rich with Earn Your Leisure’s Rashad Bilal 🏝️ E155

Ladies and gentlemen, welcome to a very special edition of the Money Mondays podcast. We cover three core topics: How to make money, how to invest money, how to give it away to charity. This gentleman will be able to cover all those topics and more because he has his own podcast, his own live events, his own university, and everything between teaching people the way I passionately do as well. He does it on a grand scale. He's been doing it for many, many years. As you guys know, these podcasts under 40 minutes because the average workout is 45 minutes. The average commute to work is 45 minutes. This episode will be between 35 and 38 minutes for your listening pleasure. We want to keep this podcast ranked super high, and we have a 93% listen-through rate because of you guys taking this content, sharing with your friends, family, and followers, because we grew up thinking it's rude to talk about money, and I want to get rid of that mindset and that concept. We have to talk about money, finances, accounting, taxes, debt, leverage, credit. All these things are part of your daily life. Paying for bills, paying for groceries, paying for your family, there's nothing evil about that.

A lot of people talk about money is the root of all evil. Money has function. Money is a tool to things all encompassing in your daily life. You need it, you want it, you have to have it. We want to make sure that we can talk about it because over the course of time, you're going to need millions and millions of millions of dollars. Not for flashy things, not for fun, fancy cars, but to literally survive over the course of time for you, your family, and the people in your downline for the rest of eternity. You need to have capital. It is a tool. Without further ado, Rashaad, give us a quick two-minute bio, so we get straight to the money.

How are you doing? Yeah, I'm one of the cofounders of a company called earn your Leisure. We Started seven years ago, and it's grown into an online community. We have a network of podcasts. We have a very large event called InvestFest. We wrote a book, which is a New York Times best seller, called You Deserve to be Rich. You have school curriculum and a variety of other different things. But it's all centered around teaching people about financing, highlighting entrepreneurs, talking about investing, and done in a way that's very digestible. And that started, as I said, seven years ago, online, on social media, and that's grown into a multifaceted media company today.

So You Deserve to be Rich. Where did that title come from?

You Deserve to be Rich. It came two different ways, actually. So Another partner of ours on the show, Market Mondays, and a strong part of what we built in, he has a mantra where he says, You deserve to be rich. And that was a seed that, I guess, was psychologically planted, but I didn't even think about that when he was coming up with the title. I felt like you deserve to be rich just outlies it from a psychological standpoint that most people don't think that they actually deserve wealth. And that leads to self-sabotage. That leads to them not fulfilling the potential that they have. So you can give somebody all of the information, introduce them to people. If they don't deep down believe that they actually are worthy of success or worthy of finances, then they're not going to actually go through with it. So the book is a blueprint when it comes to personal finance and goes through the whole journey from the start to finish. But the title of the book felt like needed to actually catch people's attention, set the tone, and also make it different than just a regular book about money.

It's not just about money, it's also about the mindset because that's vitally important. So just coming up with different ideas around that That idea, and You Deserve to be rich, was the go-to.

Similarly, you have another cool name, which is the actual main brand name, which is earn your leisure. How did that story come about?

That story came about I was a financial advisor before this, and I had my own personal brand on social media that I was building before we started earn your leisure. And I was making content based around my life, based around finance tips, based around a variety of different things that was growing my own personal page. At that time, especially, hashtags were really big. Hashtag almost was like a slogan. You have an individual hashtag that's unique to you, and that's become your slogan. I was looking for a hashtag that I could use for myself that had not been used before. Troy, actually, partner, he came up with the name, earn your leisure. He just came up with it. He was like, That's a good hashtag. That's something that you should use. And I used it, and right away, it just got people's attention. I looked At the hashtag, you see if other people use it. And I saw other people was using the hashtag. People would be like, somebody was in Cancun and they're like, earn your leisure. I didn't even know this person. So I'm like, it's catching life. People were asking me if it was a multi-level marketing firm.

People was asking me, and all I was doing was just putting it on my hashtag. Every post that I did, I would put earn your leisure, hashtag. What is earn your leisure? What is earn your leisure? I never really liked the name at first. I didn't like the name. I didn't really see how it was going to catch on. It seemed a little cheesy to me. So I stopped using it for a while. And then another friend of mine, he had asked me, he's like, What happened to earn your leisure? Why did you stop using it? I'm like, You like it? He's like, Yeah, that was Good. All right, cool. So we started using it again. And once again, it started to pick up traction. So when the time came for us to actually start a show, because that was the first thing that we did together as far as on the online side, started a podcast. And I asked Troy if he wanted to be my partner in the podcast. He said, Yeah. So we were coming up with different ideas for the name of the show. And I had a name. I wanted to call it Money Power Respect.

That's great. Troy had another name. We went back and forth, but then we were like, Look, we already have earn your leisure. That's something that I've been using for a while. It's original. So we, mindful, just go with that. And that's what we named the show, earn your leisure. That started the whole earn your leisure brand.

So at what point did it add in the live event side?

Live event side came early. Probably 16 Two weeks into us starting a show, we did a pop-up event in Carson, California. And that was just a spur of the moment thing. We were in California, we were shooting some content. Like I said, it was 16 weeks in, so we was relatively still early in this show. And another one of our friends had did a networking event in Atlanta a week before, and I saw it online and it looked pretty cool. This is a good idea, a networking event. So we just put online. We wanted to do an event in California. We was there. A restaurant owner hit us back like, Look, I have a restaurant. I like you guys. I would love to host you. You don't have to pay anything. We're like, All right, cool. We did that event, and the event was a free networking event. But It was packed. Probably 200 people came, and people came from the IE. Some people came from San Diego. So that's when we knew, Okay, we had something because spur of the moment thing, Costa California, it was a random Thursday or a Monday, something like that, and it was packed.

So that led to us doing a series of networking events all over the country. We did one in Brooklyn. We did one in Atlanta. We did one in Houston. We did one in Chicago. We were just going around the country. We were doing free networking events. We was working out deals with the bar. We would pick a Thursday, and we would sell merch. So we'd try to make some money from it. We get a percentage of the bar. The idea was just to cover the cost of travel. But we wanted to just see how hot we actually were in person, but also to gage the interest of the people in different regions and just taking a model also from just music. You see hip hop people going on promotional tours, promo tours before the album comes out. So we was doing that. And every stop, it got bigger. Every stop, it got bigger. I think the last stop that we did, I think it might have been Houston or Chicago, was 600 people. It went from 100 to 200, 300, 400, 500. And it just kept getting bigger and bigger and bigger. So At that time, we got a good gage of this now.

Now we start to do paid events. So the first paid event that we did was in Atlanta, and it was a two-day event. It was actually the day that Kobe died because I remember we had made that announcement to the audience. That was crazy. But we did that event and it sold out. I think we sold probably 500 tickets. It was a live podcast one day, then an educational workshop the next day. Then we were like, Okay, now this is a model that we can replicate. So we started doing that model again. We went to DC. We did the same thing that we did in Atlanta. We did it in DC. Then we were scheduled for Philadelphia, and that's when COVID hit. So literally three days before our event because COVID, it kept building up. We kept hearing about it, but still, nobody was really 100% sure what was going on.

March 19th, it became real.

Yeah. So three days before our event, that's when everything shut down. And we had to cancel the event three days before the event. So that was stuck because we put a lot of work into that. We were really, really looking forward to it. But we canceled the event in Philly, and then we took a break, obviously, because COVID. And then Actually, Marcus, him, 500, we went to his event. He had an event probably a year later, when people started to pick up events, he did an event in Miami, and we saw his event, and that was real inspiring. So we knew we wanted to come back to the event space because that was something that we did before, but we wanted to see how we can do something different. At the time, a lot of people had business conferences, business symposiums in the world of business, but wanted to see how we could do something that had never really been done before. I thought about having a festival, and really not just using the word festival, but actually having a festival but built around business. That's where InvestFest came in, and we looked at what music festivals do and what other type of culturally relevant festivals do, the framework for it.

We took from that and added the traditional business conference model and put them together. Then that was Invest Fest. And then at that... So that's how we got Invest Fest.

How big was the first one?

4,400 people. Wow, that's big. Yeah. It was big off the gate, relatively. And we only had eight weeks to plan. So we started it. We had eight weeks to plan. We put together the whole thing in about a month and a half. And yeah, so Invest Fest out the gate. It was really good. Then from there, the anticipation had just built. And then following that, we did a few different things, and we did an interview with Steve Harvey, and that interview went viral. During that, after the interview, we We spoke with Steve Harvey, and he just took a like on everything that we had going on. He wanted to work with us. So he's like, Come up with some ideas for us to work together. So we pitched him the idea of him coming on as a partner of InvestFest. And he came on as a partner. And then the next year for InvestFest, year two, he was one of the headliners, and then he also got us Tyler Perry as a headliner. There you go. And then that was like 14,000 people. Fourteen thousand? Yeah. Jesus. And then it just every year from there.

So you got 25,000 at the recent one.

Yeah.

What's your plan for 2026?

2026? Scale. Scale. And not just in a way of people. Every year, we add to InvestFest. So we added a pitch competition two years ago for $100,000. Last year, we did a pitch competition. We actually gave away $250,000, $125,000 to each person. We added Friday programming two years ago. Last year, it was the first year, we added full day Friday programming. So now it's like a full day. It's three days. It's a real three day. Because at first it was just two days. Then we dipped our toe in with the Friday to make it three days. But now it's all day on Friday workshops. So we added that aspect to it. So vendor marketplace has grown every year. We have around 400 small business to large business vendors inside of our vendor marketplace. Really, that's really the focus is to how can we make the experience better and better every year for people coming to InvestFest. From speakers to the vendor marketplace, pitch competitions, different value adds. So that's definitely in the works for this year.

Why should people go to InvestFest and events like it?

It's something that you really can't get online as far as the online Education is great. You can learn a lot online. But the key to success, well, one of the keys to success, one of the keys to our success is relationships. And so there's a few things I think that you get from a live event like InvestFest. You get the education, that's one thing. You actually get to sit in on panels. I feel like if you can't learn something in three days, you're not trying to learn. Over 100 panels, workshops, a variety of different things that's happening. So you're going to learn something in person. That's one thing from an educational standpoint. You're going to get inspired. And that's not talking about enough either, because like I said, InvestFest comes from us being inspired. So we started something with tremendous amount of scale in a very short period of time because we saw something. If we didn't actually go to that event, we might not have gotten inspired to do InvestFest. So the inspiration, I think, is something that you get in person. The relationships. That's probably the biggest part for me. It's like you're in an atmosphere with 25,000 like-minded people.

It's not just 25,000 people. You could go to a basketball game with 25,000 people, not know one person and then leave. But if people actually pay for a ticket, they pay for a hotel, They've taken time out of their weekend. A lot of people travel, not from Atlanta, so they got to get all the plane ticket, everything that goes in. These are serious people, right? So you're around 25,000 like-minded people over the course of a weekend. If you don't make at least five very valuable relationships, you're going about it the wrong way. And these relationships can change your life. And I've heard stories of it changing your life. People met their real estate partner, people have met somebody that invested in their business, people have met Their wife or their husband. I feel like a lot of times people, they always say, You are the greater sum of your seven closest friends. But what if you don't have seven productive friends? What if you're in a place where nobody in your neighborhood or your environment is thinking how you think, right? Well, you have to get out of that environment. And it may not be a permanent move, but it may be an intentional escape to establish different relationships, different friends, and different levels of connection.

So that, to me, is huge. You never know who you're going to meet at InvestFest. Everybody's there. And like I said, just from a vendor marketplace, the VIP night, just walking down the halls, being in the actual seminar. So that aspect of it, I think, is really big as well. So a few different reasons why people should go to events that you can't, because some people say, well, anything that you can learn at an event, you can learn online. And that may be true from an educational standpoint. But if you're only going to an event for an educational standpoint, I think you're missing a lot of other key elements. Sure.

I'm obsessed with events. I throw 42 events a year. The experience is how we build memories and how we forge relationships. We'll remember if we went to a concert together. We'll remember if we went to a best fest together. We'll remember those moments, even years and years and years later. Oftentimes, we retain information for a while, and only a percentage of it stays in our minds. But those relationships last, hopefully, for a lifetime. What about EYL University? Talk us through the online university and why is it important for someone to go there versus going through a traditional college or traditional online information?

Yeah, I mean, EYL University, so we have the platform, Earning your leisure is we have Instagram page, we have TikTok, we have all the social media. We post content all day on that. Then we have three shows under the umbrella. We have a show, Earning your leisure, where we interview entrepreneurs. We have a show called Market Mondays, which is a stock investment show. Happens every Monday. Then we have a show called Blackout, which is like a late-night opinion-based show. You learn different things from different shows that you watch or the different content that we post. You can definitely utilize that information to change your life because people have done it. You could watch an episode about real estate and actually go and buy a multifamily home. You can watch Market Mondays and actually start investing in the stock market and make 50% on your money in one year, potentially, if you get the right stock. That's happened. Those are real stories of the fact that actually happened. But I like to say it's similar to a public school versus private school. That, what I just described, all of that is free, and everybody, there's no barrier entry for it.

Everybody has access to WiFi, you can watch it. But some people want a more hands-on learning approach. Some people want more of a hands-on community. So how we built out EY University is not just an online course, it's actually an institution. So we We have regional groups, in-person regional groups. We have a DC group, we have a Chicago group, we have a South Florida group, we have LA group, we have a New York group. These are regional chapters where people meet together with different people that's part of EY University, and then they'll go out. They'll go out for bowling. They'll do community service. But once again, the relationships, they get to build relationships with people that's close to them. We have classes that happen that we don't have the capacity to have on YouTube because it's just not enough time. So like Troy, he does stock options. He'll teach a two-hour stock options class every month. Market Mondays is only a two-hour show. It's not designed to actually sit, go through a chart, go through the fundamentals of a company. It's not the framework for that. When you get that in-depth teaching in EY University, I was a financial advisor for 14 years.

So one of the things I started when I went online, I was offering people free consultations. You could book a 30-minute call with me. But I didn't have the capacity for that anymore, obviously. But now with EY University, I do monthly calls with people for EY University. It's just like a free-flowing session. Ask me any question you want about investing, about business, about marketing, about college savings, about retirement. I'm literally just sitting down answering questions. It's a one-on-one in a group setting. I don't have the capacity to do that on shows. We bring in experts in the field to actually teach about real estate or teach about credit or different things of that nature. We've really jam-packed the curriculum with anything that you want to learn about. There's a video for it. Then there's ongoing lessons, tutorials. There's a community. We have an app. There's a community that talks every single day, especially on the investing side. What are you looking at? I just found this company. They go back and forth all the time. We have investment clubs inside of it where people actually learn about cryptocurrency and what's happening. So it's an extension of what we're already doing with the online YouTube, Apple, Spotify, Instagram, but it's just more in-depth.

And like I said, that's something that we don't have the capacity to do that on YouTube, but we have the capacity to do it online, but in a different version, which is EY University. So that's for people that really want the hands-on learning experience, people that are serious, people that just want to cut directly through, get exactly what they want, put together, put themselves in places with people that's like-minded to themselves, in-person events, different things of that nature. So that's the framework behind UL University.

What do you think is what holds people back from making more money? A lot of people get stuck at 40K and 60K, 80K a year, and then they're complacent. What do you think holds them back from making more money starting to invest?

Scalability, I think, at every level, right? As far as how can you replicate yourself, right? If you're an entrepreneur, it's like, Whatever you're doing to make $40,000, $50,000 a year, what's the pathway to 10X that? Sometimes you have to change industries, almost, to actually... Because me, as a financial advisor, that's why I started this whole online thing. I saw a ceiling for myself of making six figures. I just sat down and I was young at that time, but I just looked at everything that was working against me. I'm like, Okay, in order to make money as a financial advisor, I got to talk to people, I got to close deals. I have to have either a tremendous amount of deal flow coming in, which that's difficult to get hundreds of clients on a monthly basis, or I got to work with less clients, but extremely wealthy clients. But I'm like, Okay, I don't really have access to extremely wealthy people. So that's why my first idea was sports and entertainment. I wanted to build an online platform to become a celebrity financial advisor so I could work with athletes and entertainers because I felt like that would be able to scale my business.

But even that was a still limited model. So I'm like, Okay, well, I could still talk about the same things that I'm talking about as far personal finance and retirement and investing and different things in insurance. But if I could reach thousands, hundreds of thousands, potentially even millions of people, that's a way to scale my message. So I saw Instagram as that way, to actually be able to grow and scale without having me sitting down, booking appointments, somebody canceling at the last minute, traveling an hour and a half to tell somebody For somebody to tell me that they're not ready, they got to talk to their wife. But that required me to go to a different industry. Same framework, same idea. But I went from wealth management the media, but taking what I was talking about in wealth management and taking it over to media. I think that that's something a lot of times you just have to realize. Some industries or sometimes in life, you're You're in circumstances that you're up against bad odds as far as your scalability. But it doesn't necessarily mean you have to do something completely different, but you might have to look at different avenues to take what you're passionate about, take your skillset and scale it.

So someone starts to make more money. They get up to 100K a year, 120, 140, 160. They start growing in their career over the course of time. At what point should they be considering investing, whether it's the stock market, real estate, cash flow in businesses, et cetera. At what point do you think that they should start at least researching or starting to invest from the capital they're earning from their core job?

You should start investing as soon as you have enough money to pay your bills. As soon as you have enough money to pay your bills, you have money left over, which is called discretionary income. That's when you really start to have to do something with that and think about it. So whether it's putting money in a 401k, whether it's having a life insurance policy, whether it's having a 529 plan for your kid, whether it's investing money into stocks. Over and above any money that you absolutely have to have to live, which is your rent, your mortgage, groceries, your light bill, your cell phone bill, anything over and above that is all discretionary. You don't have to invest every single penny of that because you do have some leisure that you're going to do. You're going to go out, you're going to buy some clothes, you're going to take a trip every once in a while. But I think you should really take a strong look at how much money you have over and above what you I actually need and put as much money as you can and start investing that.

So I have this thing that I've been preaching about for many years. It's a very similar concept. Everything above six months in your piggy bank, you are literally losing money on if you don't invest it because of inflation. When you start to hit to 12 months, let's say your overhead is five grand a month for your family of three, and you get to $60,000 saved up, every dollar above 60,000, you're literally losing money on. Because what people aren't thinking about is 9 % inflation is very real, right? When it's 8 %, 7 %, 10 %, et cetera, let's just call it nine. Let's say you get up to 200,000 saved up, which you only need 60,000. That 140 spends like 132,000 the next year. It spends like 123,000 the next year. It spends like 114,000 next year. It still looks like you have 140,000 saved up in your bank account, but that 140 spends less because your Ford truck is 55 grand, not 51. Your bread is $4. 40 instead of $4. Your gas is $5 instead of $450. And so if you don't invest in it, at least fight with inflation, you're literally losing money by sitting there, even though you think that you've hit this goal of, I'm ahead of most of America, which sadly only has $5,500 saved up in their bank accounts.

You've got 200K. You only actually need 60 to cover your rent and overhead for the year. I am passionate that people have to invest, even if it's just into a CD, something, just getting 4 or 5 % a year, just to battle with inflation. What are your thoughts on that?

Yeah, 100 %. I think that goes back to the financial advice and thing, too. I used to say, you needed, at the bare minimum, three months. Yeah. It's like a safety because anything can happen. Every dollar that you're not investing, you're losing money on. But you have what's called an emergency fund. So three months is an emergency fund. That was a bad minimum. Six months if you really just wanted to be safe. Some Some jobs are more risky than others. It's like if you really want to be safe, then six months. But yeah, anything over six months, unless you're using it for a specific reason. Like, okay, I know I want to buy a home in two years, and I can't really afford to lose it. That's different. But for the average person, six months, savings, the maximum that you really need, because even investing is a form of savings, too. If worse comes to worse, you can pull money out of your stock portfolio. But yeah, definitely inflation kills your money, and you don't want to just have money sitting and not doing anything, because if it's not growing, then it's losing.

Stock market, cash flow in businesses, Bitcoin. There's so many different options for people to invest into. Angel investing into their friend's restaurant or barbershop or nightclub or salon. Oh, my God, this company came over here. I got this pitch of this new fancy product business. People are bombarded with options, what they see on social media or they're hit up in real life. How do they decide for themselves? How do they protect themselves? What to finally invest into?

Education is key. I think you should always educate yourself before you invest in anything. But some of the easy basic investments is like, you could dollar cost average into index fund, stock market. That's like an easy barrier of entry. And that's something that a lot of people are already doing with their 401k, stuff like that. So that's something that you can definitely get in too easily. Then when you start to look at cryptocurrency, Bitcoin, that's something that you have to, I think, have some exposure to for sure. If you look at the future and where the world is going, especially money and monetary systems. So you might want to put, okay, I'm going to put some money into Bitcoin every single month, dollar cost average into that. And then as far as a business, I definitely think that If you're an entrepreneur, it's better to start low-costing businesses that you can sell fund. A lot of people go into debt when they first start out, and I think that puts them under pressure. You don't want to have to borrow money for your business, especially when you first start. Maybe when you get more seasoned and it's experienced, then it's like, okay.

But I think that going into business without the pressure of making money to support yourself gives you a lot more clarity. We first started, we both had our own careers, and the business was relatively low costing. So it wasn't like we had to turn a profit on day one to support ourselves. When you start doing that, then you do things that you might not necessarily do. You start to compromise on different things, and it doesn't put you in a good mental space. So definitely, you have to invest in your business. I think that if you are an entrepreneur, you want to sell Find your business at first, if you can, but also start a business that doesn't require a lot of self-funding. Start with the MVP and then build it out from there, as opposed to going into something that's going to be tremendously costly at the start.

So overhead is the biggest killer of most businesses and most households. A lot of times people get that fourth bedroom, even though there's only two of them living there. They get that third car, even though there's only two of them. They get third watch, even though they become numb to the second and third watch. I've watched it happen, and I'm sure you watch it happen over the years. A lot of friends make money, but at the end of the year, they have the exact same money saved up, and they don't know why. They're like, Wait a minute. I went from 100K to 160K. Why do I have to save amount of money? Well, it's because you went and got a four bedroom house instead of a two bedroom apartment. It's because you got a third car. Now you're paying 800 bucks a month, 600 bucks a month for these two extra cars. We don't realize all these extra things that go into our overhead is holding us back, that they could be investing that capital. What would say to someone to try to not have to keep up with the Joneses and take the extra capital they're making from earning more in their career and putting into investing instead of putting into a third watch?

Yeah. Lifestyle creep is a real thing. The more money you make, the more money you spend, usually. And that's why most people, they stay broke no matter how much money they make. And I think that it's important to rethink the way that you think about money a lot. Most people were trained to think about money as a voucher in the sense where you I get it and it's something that is exchanged for something else. So I work, and then I get paid money, and then I use that money to pay my rent. I work, I get paid money, and I use that money to pay for clothes. I work, and I get paid money, and I use that money to go to Miami. And that's a continuous cycle of working, getting money, spending money. And like I said, no matter how much money you make, if you have that mindset, then that's what... If you value, if If you look at money as a voucher for a good only, then that's what you're going to continue to do. But I think when you start to rethink about it and you think of money as a tool, that at its core, part of it is used as a voucher, but the other part of it is a tool to make more money.

Then you start to rethink your relationship with money. You start to value it more. You start to not necessarily just be overly frivolous with the decisions that you make because you look at the potential that it could cost you. So looking at money as a tool to make more money. That's something I think just really buying into that belief system, it changes it. Because it's not like every single dollar that you get, you're going to invest, but you're always thinking about investing. So you're always going to think, Okay, if I get 100,000, I'm going to put 50,000 dollars up. That's not even a question because I need to make another 100,000 down the line off of this 50,000, right? So without having that understanding, it's easy to blow a million, 10 million. You can blow like you see this happens all the time with lottery winners and athletes and people don't understand, how can somebody have $100 million contract and not have any money left because they never looked at it as anything other than something that they should just spend. And eventually, when you don't have money coming in or money coming at the same rate anymore and you spent all your money, now you're broke.

So recently in the podcast space and content space, we've been seeing some mega deals. In the last few weeks, we saw Netflix buy 15 shows to put on there with Barstool Sports being three of those shows. We saw a friend of yours get a $200 million five-year deal in the space in the category. What are your thoughts about the podcast and content creation space and now these mega deals that are occurring?

It's interesting. I feel like Netflix followed the same business model almost that Spotify did a few years ago. I remember when Spotify was spending a lot of money, Joe Rogan, everything like that. And Netflix, they need inventory for videos. So it's expensive to make a a scripted show. It's even probably more expensive to make a movie, original movie. And Netflix spends so much money on content. They spend more money on content than anybody else.

Combined, probably. Yeah.

So the podcast is a low-costing show. Even if it's a good-produced podcast, it's still low-costing compared to a scripted show or a movie. So it's a way to get cheap content.

And fan base.

Right. And people People watch, especially a show that people really tune into, they watch it. It's part of their weekly rituals to watch the show. From that standpoint, I think it's interesting to see. I'm not 100% sure how that's going to play out as far as Netflix is concerned, honestly, because I do feel like it does add a barrier that makes it harder. Because even I don't know if the Joe Rogan thing really worked out with Spotify. When he took his videos off of YouTube, and I don't know how many people actually watched his videos Spotify. I don't think a lot did. And I think that Netflix should go either way, honestly, in my opinion, because it's like me person, The Breakfast Club. I watch The Breakfast Club on my phone. I watch YouTube on my phone. I don't really watch YouTube on the television because I'm out all the time. And I only watch Netflix on the television. I don't watch Netflix on my phone. I watch Netflix at 11: 00 at night. I got to be at a certain point mentally to sit down and watch Netflix. At any point in time, I could just watch YouTube.

Will I be watching the Breakfast Club at the same rate that I was before? No, I won't. Just from the barrier of interest standpoint. But Netflix has obviously an extremely large base, and they control the algorithm, too. So they might push it to a new audience that never even watched it before. Exactly. So I think it's interesting to see how that's going to play out. But the overall, I think that I feel like the podcast space is in an interesting place because I do feel like it's oversaturated a little bit. I feel like a lot of people are not original, and they just copy what's already been done. And it's a lot of the same content getting regurgitated. There's a lot of celebrities that's coming in, and they're doing similar content to each other. So it'll be interesting to see how this whole thing plays out. Obviously, people's attention spans or attention for media is only growing. Their attention span is getting smaller, but their appetite is getting bigger. So I don't think that that's going to go anywhere. But even streaming, right? I think streaming has taken a large chunk of new media where people might not necessarily...

Young people might not watch a podcast, but they'll watch a streamer.

Because they can come in and out. They can just watch it for a little bit and exit.

Exactly. So it's interesting, but I definitely think that it's It's only going to continue to revolutionize media and it's going to evolve over the course of time, even more than what it is now.

So we talked about a bit making money, investing money. Let's talk about the charity side. Why do you think it's important for a household to have some type of charity for their kids, family, and friends to see and be a part of?

I feel like it's all reciprocal as far as whatever you put out world comes back to. And I feel like it's just part of your calmer. But I also feel like, even from a selfish standpoint, the more you help, the more you get. So that's something I don't think a lot of people fully understand either. It's not meant to just have and just hoard everything for yourself. I feel like you do have a certain level of responsibility if you're fortunate to help people that are less fortunate. Because why not? As long as it's not going to hurt you. I think that in any level of charity, it never really is preached that you have to hurt yourself financially to give charity. Charity is something that you can afford to give. If you see somebody on the street and you give them $5, you have $300 in your pocket. The $5 is not hurting you, but it could actually really help somebody. So something that doesn't hurt you and could help somebody, why would you not do it? And I feel like that's something that if everybody did If you did that, then it just makes the world a better place because ultimately, one person's problem is everybody's problem.

It's not like, okay, I could just avoid this because it doesn't affect me. It's going to affect you one way or another. You know what I mean? So I feel like helping people is beneficial for the person that you're helping, but it's also beneficial for yourself also, from a variety of different standpoints. But the more that I think people really buy into that, understand that, the less that we will have to rely on entities like the government, which we can't rely on the government. We don't know what's going to happen. So we got to really take the matters into our own hands. So encouraging that, showing that, and really just having that level of compassion, I think, is something that's important.

Do you have children?

Yeah, I have a son.

So there's only one question that I ask on every single episode, I've never gotten the same answer before. Many, many years from now, when it's finally time for Rasha to pass away, but you've built up hundreds of millions of dollars of networth, built up a multibillion dollar company with earning your leisure, what percentage of your networth do you leave to your son?

To be honest, I have not fully thought about it yet, but I feel like he'll probably get a substantial amount as it stands now. I mean, if my life changes, but as it stands now, he's my only child. You leave money for your family, you leave money to charity. But as my sole heir, he'll probably get a substantial part of it.

So talk to us, your social, the business social. Talk us through all those things so people can find you and all the earn your leisure world.

I appreciate it. Yeah, earn your leisure across all platforms. And then my page on Instagram, my name is Rashaad Bilal. So that's my Instagram name. And yeah, appreciate it.

It's awesome. So as you guys know, this episode is important not just for yourself, but it could be for your friends, family, and followers. And not just for them, it could be from people from your past, present, or future. Things that you hear on this episode might be relevant a month from now or a year from now to someone in your life. And so forward this to them. Make sure you're talking with your friends about money, credit, finances, because it's important for your daily life. I appreciate you guys. We'll see you guys here next Monday on themoneymondays. Com.