Rashad Bilal and Troy Millings, co-creators of the popular podcast “Earn Your Leisure,” are on a mission to promote financial literacy and empower individuals to make smarter financial decisions. They believe that investing and understanding compound interest are crucial for achieving financial freedom. While investing was once seen as a luxury reserved for the wealthy, Bilal emphasizes that it’s accessible to everyone and can start with small balances and dollar-cost averaging. Millings adds that people often make mistakes with money because they lack education on how to save and manage it.
The hosts stress the importance of financial resources in achieving financial freedom. While the amount needed varies depending on location and lifestyle, Bilal suggests that reaching an eight-figure net worth could provide a comfortable level of financial security. Millings explains that financial freedom means having enough resources to cover living expenses, invest, and create generational wealth. However, they acknowledge that not everyone will be able to accumulate millions and emphasize the importance of setting aspirations and following the pathway towards financial goals, even if they fall short.
Bilal and Millings also discuss practical tips for investing. They advise young people to be aggressive in their investments and start with indexes and exchange-traded funds to mitigate risk. Throughout their podcast, they strive to make financial education relatable and accessible to all, aiming to break down the perception that it is only for the elite or select few. They also emphasize that financial literacy is essential for everyone, regardless of their income level, as having money does not guarantee an understanding of how to manage it effectively.
