The likelihood of someone coming from a family that has little to no financial knowledge or experience being able to manage or to make plans for their money is disadvantageous. It takes a lot of experience, knowledge, and responsibility to manage money and large sums of money is all about placement. Even the average man and woman with an average income one thing we all need is life insurance. If you’re a sneakerhead you better have an air tight will for your collection because if something happened to you, your people might give your kicks to the thrift store for a tax write-off. Funerals are very expensive and if your family needs to cut the cost cremate you, guess what they’re going to do. Did you know that if you do not belong to a place of worship you may not be funeralized or your family will have to pay extra?
Too many times have we seen celebrities or famous musicians die before they have all of their affairs in order. Imagine, your body sitting in a cold morgue because your family can’t access your accounts right away. As a single parent would you want your child’s other parent to raise them without your family present in their life. Even the small things like social media, I wouldn’t want my account to still be floating around. Please just save all my photos and delete my account. Nipsey Hussle, despite the great business mind he had, he still wasn’t ready for life after death. There have been reports of Nip’s brother Sam seeking to control his estate and reports of their sister seeking to gain custody of his daughter, Emani. No one is ready to die (this B.I.G. reference was unintentional) yet, death is forthcoming. I know you’re out here grinding and war ready just remember that not all soldiers make it home.
What are we missing here? How many auctions will there be in ten years with your favorite rapper’s sunglasses? Lil Wayne recently had to get his lawyers to stop an auction company from selling one of his old rhyme books. Think about how hard that would be for his estate to do if he were already deceased. So many rappers have had health scares and near-death experiences and, I can almost guarantee you that somebody’s business is not all the way right. Especially if the artist doesn’t own their masters and their publishing. People strive to make it out the “hood” so they can take care of their family and part of that is taking care of your family after you’re gone. That is generational wealth. That is what those labels on your clothes represent. Hip Hop has yet to do that. Diddy, Jay, and Dr. Dre may have a billion dollars today but, once they’re gone it’ll be up to their children to continue to grow the family’s wealth. Your kids could squander it all if you don’t raise them to be paper soldiers.
“Life is but a dream and you really don’t wanna leave” – Jay Z (Beach Chair)