Wallstreet Trapper also known as Leon Howard has built a name for himself while gaining the respect of many in the entertainment and business industry. Known for educating the culture on how to build wealth one share at a time, he has earned the support of many with over 450,000 followers on Instagram.
Growing up in New Orleans, he’s no stranger to the streets. During his 10 years in prison he learned the stock market and since then he’s been applying it and teaching it to everyone willing to learn including upcoming and prominent rappers. He has also been supported and acknowledged by some of the greatest in the hip hop industry.
We caught up with him to get some insight on how rappers can successfully invest and manage their money. Check out 3 tips he provided below:
INVEST MORE THAN YOU SAVE
It’s not how much you make, it’s not how much you save, what really matters is how much you invest! Your money sitting in the bank does more for them than it does for you. When you get into the habit of investing more than you save, you maximize your money’s potential to grow. Every year your money loses value due to inflation. Your money earns less than 1% sitting in your savings account, while it makes the bank millions of dollars (through lending and investing your money for their gain). Meanwhile, money invested in the stock market has potential to earn 8-10% by investing through conservative investors.
INVEST WHERE YOU SHOP
Fashion plays a huge role when it comes to your image, especially in the hip hop industry. Another part of your image is attaining real wealth. You can start your wealth building journey by investing in the companies that you spend with often. For example, if you are into luxury designer brands such as: Fendi, Louis Vuitton and YSL, you can own shares of LVMH and PPRUY. Now when you are wearing Gucci, Louis Vuitton and Fendi, you also own it.
INVEST FOR THE LONG TERM
Investing has to be intentional and building wealth takes time. In order to truly build wealth, you MUST think long term. Stocks perform the best over a longer period of time, due to a beautiful secret weapon called compound interest. Compound interest is the interest that your interest earns. So long as your money is invested, that annual interest is multiplying and growing your wealth for you.
Overall, the stock market is designed for you to win, if you learn how to play the game. Investing in companies you know, investing often and playing the long game, is 100% a recipe for success in the stock market.
For more tips make sure to follow him on instagram @wall_street_trapper