The Bishop Don Magic Juan


I believe strongly in trying to help people improve their financial lives, and I am in support of anyone else that tries to help others. But, sometimes I have to draw the line. The world's most colorful newspaper (USA Today) had an article this weekend about Hip-Hop stars teaching their fans about money. There is an annual Hip-Hop Summit in New York that helps the Hip-Hop culture unite. While I have absolutely no problem with many of Hip-Hop's components, it's financial advice leaves something to be desired. For example, read the quote below from Bun B, a former Hip-Hop star with the Underground Kings.

Bun B held up his silver chain to show off the 4-inch-square, diamond-encrusted "B" hanging at the end. It flashed in the spotlight.

"If you're gonna buy a chain for $30,000, be sure it's not the only $30,000 you have."

Doesn't this sound like "do as I say, not what I do"? Is having a $30k chain ever a good idea? The Hip-Hop lyrics mostly boast of wealth, so what's the difference? Can they please leave the money advice to me, and I will leave the rapping to them. Besides, what kind of of person has a stage name? Pete the Planner would never create some sort of marketing brand like that.

Then again, I'm an old man now. Read the previous blog.

Disclaimer**** The Bishop Don Magic Juan is not actually a Bishop. Don't google him.

Need advice on finances? Ask a hip-hop artist USA Today