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Mustard Seed Money

Mustard Seed Money

Eight Money Lessons From Jay-Z

December 20, 2017

THIS POST MAY CONTAIN AFFILIATE LINKS. PLEASE READ MY DISCLOSURE FOR MORE INFO.

 

I still remember when I heard Jay-Z for the first time.  I was 17, and my friend had just brought over the Vol. 2…Hard Knock Life album.  We were huddled in the corner of my living room with the volume on low because of the explicit lyrics.  I laugh thinking about it now. I’m not sure why I didn’t think to take my boombox down to the basement.  

 

jay-z money lessons

I remember listening to the album and enjoying the catchy beats, but overall, I wasn’t a huge fan.  Honestly, I just didn’t enjoy rap all that much. It wasn’t until I heard The Grey Album that I began appreciating Jay-Z’s music.  That is when my eyes opened up. The Grey Album was a mashup of the Beatles’ White Album with Jay-Z’s The Black Album.  There was some controversy with the album and copyright laws, but I had gotten a hold of it through a friend.  

 

Since that time, I have gone back to listen to some of his older music.  Every once in awhile, a song of his will pop up on Pandora. On his most recent release, The Story of O.J., he raps,

“I’m trying give you a million dollars worth of game for $9.99.”  

 

Interestingly enough, he has incorporated money and finances in much of his lyrics.  I thought I’d hunt down some of his best money lessons so that his million dollar advice can be heard by those not as familiar.  

 

For those unacquainted, Jay-Z is now worth an estimated $810 million, according to Forbes.  His wealth was generated from multiple successful businesses, including his entertainment company Roc Nation, music streaming company Tidal, champagne brand Armand de Brignac, and his venture capital firm Arrival.  

 

He grew up in the Marcy projects in Brooklyn, New York, and rose from rags to riches.  Let’s take a look at the 8 money lessons that Jay-Z can teach us.

 

1. “I bought every V12 engine / Wish I could take it back to the beginnin’ / I coulda bought a place in Dumbo before it was Dumbo / For like 2 million / That same building today is worth 25 million / Guess how I’m feelin’? Dumbo.”

“The Story of OJ” from 4:44 (album)

 

Here Jay-Z is rapping about all the fancy cars that he bought and how he wasted his money when he could have been buying appreciating assets, such as real estate.  As I have stated before, most cars depreciate in value over time, with some vehicles losing 60% of their value within five years.  Meanwhile, real estate has historically risen at the rate of inflation, or even higher, if you live in hot real estate markets like New York City or San Francisco.

 

2.  “I bought some artwork for 1 million / 2 years later, that [stuff] worth 2 million / Few years later, that [stuff] worth 8 million / I can’t wait to give this [stuff] to my children.”

“The Story of OJ” from 4:44 (album)

 

Collectibles are hot right now.  Jay-Z is sharing the importance of a buy-and-hold strategy.  Sure, he could have sold his artwork after two years. However, since he waited, it went up 8 times in value.  He imagines how much much this artwork could appreciate when his children inherit these items.

 

3.“Y’all on the [Insta]gram holdin’ money to your ear/There’s a disconnect, we don’t call that money over here, yeah.”

“The Story of OJ” from 4:44 (album)

 

Jay-Z is calling out those who flaunt their wealth, especially those who like to take pictures with stacks of money.  50 Cent is notorious for doing this, and he had to admit in bankruptcy court that the piles of cash in his photos were all fake.  Those who are truly wealthy don’t have to prove it by conspicuous consumption or showing off.

 

4. “Wanna know what’s more important than throwin’ away money at a strip club? Credit.”

“The Story of OJ” from 4:44 (album)

 

Once again, he’s calling out those who think that flashing wealth is a sign of prosperity.  In turn, he emphasizes credit as a means to build and sustain wealth.

 

How important is credit?  Well, playwright Lin-Manuel Miranda didn’t have a credit card until he was 28.  He says that even though he had a decent amount of money in his bank account when he was trying to purchase an apartment, by not having credit, he could not obtain a mortgage.  He had to have his Dad co-sign on his mortgage in order to qualify.

 

5.  “Generational wealth, that’s the key. My parents ain’t have [stuff] so that shift started with me.”

“Legacy”, 4:44 (album)

 

While Jay-Z made all his wealth on his own, he seeks to build a legacy of generational wealth for his children.  Part of this includes setting up trusts, wills and having the proper insurance.  Leaving a legacy for our kids is one of the most important things we can do as parents.  When we leave this earth, our legacy lives on.

 

6.  “I’m not a businessman, I’m a business, man.”

“Diamonds from Sierra Leone”, Late Registration (album)

 

Admittedly, these are my favorite Jay-Z lyrics.  I love that he recognizes that he has become so influential that his brand is himself, and that can stand on its own.  He is the quintessential entrepreneur.

 

Look at some of the biggest brands out there and the faces of them.  For instance- Berkshire Hathaway… Warren Buffett; Apple… Steve Jobs; Tesla… Elon Musk.

 

Those individuals are not businessmen.  They are the business, man 🙂

 

7. “Being broke is childish and I’m quite grown.”

“I Love the Dough”, Life After Death (album)

 

Most of us probably didn’t have much money as kids.  We relied on our parents to buy things for us. I still remember my first job as a lifeguard and when I received my first paycheck.  I thought I no longer had to depend on my parents for money if I wanted something. That was partially true. But a naive teenager doesn’t always factor in all the costs involved in their life.  Although I felt rich and grown, I was still dependent on my parents for most expenses.

 

Sound money moves will keep you from being broke as an adult.  Clearly, Jay-Z has made some great financial decisions.

 

8. “I can’t help the poor if I’m one of them / So I got rich and gave back, to me that’s the win-win.”

“Moment of Clarity”, The Black Album (album)

 

In 2003, Jay-Z created the Shawn Carter Foundation with his mother.  The foundation has given more than $4 million in collegiate scholarships, according to the foundation’s website.

 

It’s important to realize that once you’ve made it, you should look for opportunities to give back in areas that you are passionate about.  While I don’t have millions, I am actively trying to give back through my Reaching FIRE course.  Hopefully, one day I will be in a position to do something similar to Jay-Z.

 

So readers are you a Jay-Z fan?  Would you have ever thought his lyrics would provide such sound money lessons?  Share your thoughts below.

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Comments

  1. Jason says

    December 20, 2017 at 7:06 am

    Well, if there is a hip hop mogul to take advice from it would be Jay-Z! I wonder what kind of monetary advice, if any, is in the popular artists of country music? Just play the song backwards and you get your money back? (ha, ha…sorry I couldn’t resist).
    Jason recently posted…Should You Invest in Individual Stocks?My Profile

    Reply
    • Mustard Seed Money says

      December 21, 2017 at 10:22 pm

      Hahaha…I can’t say I’m that familiar with country music. Maybe I have to see what Garth Brooks is worth and if he has any money advice 🙂

      Reply
  2. Leo T. Ly @ isaved5k.com says

    December 20, 2017 at 8:10 am

    I am not much of a rap music fan. However, I am quite aware of Jay-Z’s entrepreneur prowess. His rags to riches story is always inspiring.

    I was not very aware of his money philosophy in his music. I guess he is definitely practicing what he preaches as he’s still rich and other artists in his generation is mostly broke.

    It takes talent to make millions and takes discipline to keep them.
    Leo T. Ly @ isaved5k.com recently posted…The Right Ways To Time The MarketMy Profile

    Reply
    • Mustard Seed Money says

      December 21, 2017 at 10:23 pm

      I thought it was really interesting to see how he weaves in finances. I definitely wasn’t that aware 🙂

      Reply
  3. Budget On a Stick says

    December 20, 2017 at 8:13 am

    I love seeing positive role models in music like this (they are so few and far between).
    I was first introduced to Jay-Z when he did that mash-up album with Linkin Park and thought he was great.
    It is funny how you can listen to music but not quite catch all the lyric’s meanings sometimes. Thanks for listing these out!
    Budget On a Stick recently posted…Remembering The Important ThingsMy Profile

    Reply
    • Mustard Seed Money says

      December 21, 2017 at 10:24 pm

      Glad you enjoyed it. I may be one of the only people that isn’t a big fan of the Jay-Z/Linkin Park Mash-Up. But then again I’m not a huge fan of Linkin Park 🙂

      Reply
  4. Passivecanadianincome says

    December 20, 2017 at 8:31 am

    Great post man. Jay z and nas are lyrical genius’s. I really like this post. Great job. Big pimping!
    Passivecanadianincome recently posted…Investment Free DecemberMy Profile

    Reply
    • Mustard Seed Money says

      December 21, 2017 at 10:25 pm

      I need to read up on some of Nas lyrics. I have to admit that I’m not as familiar with him as others.

      Reply
  5. Erik says

    December 20, 2017 at 10:05 am

    First off, love the new layout MSM.

    I’m not the biggest Jay Z fan in terms of hip hop and rap, but I do admire his success financially and as a brand. He is someone to look up to!
    Erik recently posted…100 Personal Finance Blogs to Read in 2018My Profile

    Reply
    • Mustard Seed Money says

      December 21, 2017 at 10:27 pm

      Glad you enjoy the layout. I wasn’t a big fan either but the Grey Album opened my eyes.

      Reply
  6. MSM Sissy says

    December 20, 2017 at 12:23 pm

    I’m not a businessman, I’m a business, man.

    My favorite Jay-Z quote! Very clever post.

    Reply
    • Mustard Seed Money says

      December 21, 2017 at 10:27 pm

      Hahhaha…glad you liked it 🙂

      Reply
  7. fin$avvypanda @ finsavvypanda.com says

    December 20, 2017 at 12:59 pm

    hahaha I LOVE this post! I enjoyed reading every bit of it!

    I used to love listening to his songs back in high school and university, but I didn’t fully pay attention to all of the lyrics like that. Now that you spell out these lyrics, I can see how they relate to money and finance, LOL!

    Overall, he’s a respectable man! Definitely a great role model to look up to!
    fin$avvypanda @ finsavvypanda.com recently posted…The Wacky Story of Why We Paid Off $20,000 Debt in One Shot — Life Lessons LearnedMy Profile

    Reply
    • Mustard Seed Money says

      December 21, 2017 at 10:28 pm

      Glad you enjoyed the post!!! It was definitely a fun post to put together and I honestly had no idea he rapped so much about finances 🙂

      Reply
  8. Miguel (The Rich Miser) says

    December 20, 2017 at 1:54 pm

    Great lessons! The only one that gives me some pause is 5, about generational wealth. I think it’s great to help out your kids with their education, wedding, and other such things. However, too much “help” can become spoiling, and lead to overdependent kids that don’t transition well to adulthood and self-sufficiency.

    It’s a fine line, I think. It’s good to inherit money when you’re older and have built up a career, but too much too early can have bad effects.

    Reply
    • Mustard Seed Money says

      December 21, 2017 at 10:29 pm

      I don’t know if you’ve read the book about the Vanderbilts but they are the epitome of why you don’t spoil your kids. It’s crazy how it can ruin lives.

      Reply
  9. Chris @ Duke of Dollars says

    December 20, 2017 at 2:51 pm

    Love the article!!

    We want to post a case study on him one day – there is just something to be said for celebrities or influencers who keep their money generating new money, versus those who squander it away.
    Chris @ Duke of Dollars recently posted…November 2017 Army Updates – The Great War of DebtMy Profile

    Reply
    • Mustard Seed Money says

      December 21, 2017 at 10:30 pm

      I think there is definitely talent in maintaining wealth especially at that level especially when so many fall by the wayside. I’ve enjoyed reading about his journey 🙂

      Reply
  10. Lily | The Frugal Gene says

    December 21, 2017 at 12:25 pm

    Aw I love #6!!! Ok, now, do one about my favorite: Eminem. I think I tried to write it what Em taught me about money but….all his lyrics are kinda violent hahaha.

    Reply
    • Mustard Seed Money says

      December 21, 2017 at 10:31 pm

      I’d have to do some digging. Most of his lyrics are pretty violent so we’ll see if he weaves any money tales in there 🙂

      Reply
  11. Jerry Brown says

    January 3, 2018 at 6:08 am

    I love this list! The 4:44 album was so dope! Checkout my Financial Independence Live Hip-Hop playlist post with contributions from J. Money and Erin from Broke Millennial

    http://www.peerlessmoneymentor.com/financial-independence-hip-hop-playlist/

    Reply
    • Mustard Seed Money says

      January 4, 2018 at 7:39 pm

      Thanks for sharing Jerry!!! I’ll definitely have to check it out your article.

      Reply
  12. Mrs. Adventure Rich says

    January 3, 2018 at 6:11 am

    Haha- I always knew my listening to Jay-Z would be beneficial 😉
    Mrs. Adventure Rich recently posted…Ten Adventure Rich Articles To Send You Into 2018My Profile

    Reply
    • Mustard Seed Money says

      January 4, 2018 at 8:03 pm

      Hahahha…you and me both 🙂

      Reply
  13. Reid @ Wealth Rehab says

    January 3, 2018 at 9:33 am

    This great. I was a Jay-Z fan back in the day then I grew up. But he grew up and got more mature in his songs so I am a fan again. I actually had similar idea for a post; finally rappers are talking smarter about money. Check out Dee-1 (if you havent heard of him already).

    Reply
    • Mustard Seed Money says

      January 4, 2018 at 8:04 pm

      I’ll definitely have to check out Dee-1. Thanks for sharing!!!

      Reply
  14. Sandra says

    January 3, 2018 at 10:25 am

    Great post. In lieu of a TED Talk, we have his songs! 🙂

    Reply
    • Mustard Seed Money says

      January 4, 2018 at 8:05 pm

      Hahaha…very true 🙂

      Reply
  15. Sean @ FrugalMoneyMan says

    January 3, 2018 at 1:51 pm

    I am not a big music guy, but I definitely have marveled at Jay Z’s business acumen. He speaks real truth in his music, especially in the financial realm of his life that you mention in the article.

    His music preached the true ways to build generational wealth. Don’t buy depreciating assets, live below your means, buy appreciating assets and hold them, and leave a legacy for your family.

    Thanks for this cool/insightful post!

    Reply
    • Mustard Seed Money says

      January 4, 2018 at 8:54 pm

      Thanks for stopping by Sean!!! I definitely agree as Jay-Z has matured it’s been interesting to hear what his words of wisdom especially in the financial realm 🙂

      Reply
  16. Mrs. Farmhouse Finance says

    January 3, 2018 at 5:58 pm

    Hustlers, we don’t sleep, we rest one eye up 😉 Great post!

    Reply
    • Mustard Seed Money says

      January 4, 2018 at 8:56 pm

      Awesome line!!!

      Reply
  17. Life we learn says

    January 4, 2018 at 10:28 am

    I love this post!
    I enjoy rap music but I haven’t paid much attention to Jay Z over the years apart from his hit collaborations. I never knew he rapped about the money lessons he has learned over the years. Thanks for sharing and congrats on getting published on Rockstar Finance!

    Reply
    • Mustard Seed Money says

      January 4, 2018 at 8:56 pm

      Thanks for stopping by Life we learn!!! I was quite surprised when I saw I was on Rockstar 🙂

      Reply
  18. OMGF says

    January 7, 2018 at 6:28 pm

    Put me anywhere on God’s green earth, I’ll triple my worth! I. Will. Not. Lose.

    Jay has decades’ worth of gems, not to mention he is endlessly quotable in just about any life situation.
    OMGF recently posted…Woman of MysteryMy Profile

    Reply
    • Mustard Seed Money says

      January 7, 2018 at 8:43 pm

      Great line OMGF!!!

      Reply
  19. Bo Amusa says

    January 11, 2018 at 4:30 pm

    JayZ is my favorite artist of all time!! This was a great read

    Reply
    • Mustard Seed Money says

      January 11, 2018 at 9:57 pm

      Glad you enjoyed it Bo!!!

      Reply

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