Sign In
Get Started
Get the App
Work, Life, Balanced

50 Cent Gives Financial Advice For Parents

By Jake Bronstein Feb 21, 2017

After a lifetime of financial advice ignored, rapper 50 Cent’s one simple idea of where to start can make all of the difference in the world.

Every 12 months, my wife and I sit down with our financial planner. It feels a bit like going to the dentist.

The problem stems from the question our planner asks at the start of each meeting: “What are your financial goals for the next 1, 5 and 10 years?”

The truth is, for most of the time we’ve been seeing him, we had no idea. And it showed. Our best attempts at long-term financial goals were “not going broke” and “it’d be nice to own something.”

Because we never took the time to flesh-out goals, the plans our planner made on our behalf never got more tactical than encouraging us to save for a rainy day, invest to keep up with inflation, and max out our retirement funds, if possible.

And then, in 2014, I read this article in which rapper 50 Cent became a guy’s life coach.

50 Gives Advice

The premise of the article is simple: A schlubby writer is paired off with 50 Cent for a month of life coaching in an attempt to up his game. Yes, that 50 Cent.

In and among the fun facts—50’s dog’s name is Oprah—and the kind of advice you might expect from the guy who penned “In Da Club”—“If you want to be taken seriously you need to dress better”—is this gem:

“Make a vision board. Do it tonight, when you get home. Open your laptop. Create a new folder. Think about the things you want for your future.”

50 suggested the writer do it with his girlfriend.

We Listened, and You Should, Too

Feeling up for some silliness after reading the article, my wife and I decided to give it a shot.

We each made a folder and filled it images that were meaningful to us without showing one another. What we came away with was revealing.

On her vision board:

  • One more child than I was expecting to have.

  • A townhouse in the city.

  • A large dog.

On my vision board:

  • A rental property for passive income like my parents had at this phase of their lives.

  • A vintage J40 Toyota Land Cruiser, not a suitable family car.

  • An African safari with my son. A guy can dream, right? It goes with the Land Cruiser.

Everything Changed

For the first time ever, we were able to think about our goals in a way we never had previously.

Not that you asked but we first prioritized the rental unit as the added income could help with some of our other goals. Next, we started a college fund for the second child I hadn’t yet considered having.

The important thing is that we now know where we want to go. From there, we can break it down into manageable chunks.

My advice for you? Here goes: Listen to 50. Make a vision board. “Do it now.” Then work out your plans from there.

Fabric exists to help young families master their money. Our articles abide by strict editorial standards.


Subscribe to our newsletter


Written by

Jake Bronstein

Related Posts

Work, Life, Balanced

How Spending 13 Minutes a Day on Self-Care Changed My Life

I created the Mental Health and Wealth Challenge to engage in self-care that was meaningful, simple, and free — and only takes 13 minutes a day.

By Melanie Lockert
Work, Life, Balanced

Can You Afford to Become a Stay-at-Home Parent? How to Find Out

Working vs. being a stay-at-home parent is a major decision. We’ve created a framework to provide financial clarity about your best options.

By Julie Pierce Onos
Work, Life, Balanced

How to Make Mundane Moments With Your Kids Feel Actually Special

We asked experts for ways to savor even the mundane time with family—whether or not we’re in the middle of a pandemic.

By Sarah Li Cain

Fabric Picks

Life Insurance 101

What Is Permanent Life Insurance?

Whole life insurance provides coverage throughout your life. That’s different from term life insurance, which only covers you for a specific period of time.

By Sarah Li Cain
Life Insurance 101

Life Insurance Regulations: Who Oversees Life Insurance Companies?

Life insurance is supposed to provide you with peace of mind, but who’s making sure the insurance company can deliver on their promises?

By Jessica Sillers
Modern Family Finances

What You Should Know About Your Emergency Fund During COVID

The pandemic and economic challenges mean some families have exhausted their emergency cash. Here’s how to prepare for (and deal with) the worst.

By Jessica Sillers

About Fabric

iOS

/

Android

Subscribe to our newsletter

© 2021 Fabric Insurance Agency, LLC

Accidental Death Insurance policies (Form VL-ADH1 with state variations where applicable) and Term Life Insurance policies (Form ICC16-VLT, ICC19-VLT2, and CMP 0501 with state variations where applicable) are issued by Vantis Life Insurance Company (Vantis Life), Windsor, CT (all states except NY), and by The Penn Insurance and Annuity Company of New York (NY only). Coverage may not be available in all states. Issuance of coverage for Term Life Insurance is subject to underwriting review and approval. Please see a copy of the policy for the full terms, conditions and exclusions. Policy obligations are the sole responsibility of Vantis Life.

Fabric Insurance Agency, LLC (FIA) is an insurance agency licensed to sell life and accident insurance products. FIA will receive compensation from Vantis Life for such sales. The NAIC Company Code for Vantis Life is 68632. See the Terms of Use for additional information regarding FIA.

Plan like a parent. is a trademark of Fabric Technologies, Inc.