You Deserve to Be Rich Book Summary - You Deserve to Be Rich Book explained in key points

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You Deserve to Be Rich summary

Name: You Deserve to Be Rich
Author: Rashad Bilal, Troy Millings

Rashad Bilal, Troy Millings

Master the Inner Game of Wealth and Claim Your Future

18 mins

Brief summary

You Deserve to Be Rich guides readers through financial literacy, wealth-building strategies, and money management. Rashad Bilal and Troy Millings provide accessible advice to help individuals confidently achieve financial independence and security.

Topics

Investments Inspiration Personal Finances Success Career Progress Wealth

Table of Contents

You Deserve to Be Rich
Summary of 6 key ideas

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What’s in it for me? Build wealth, achieve financial freedom, and take control of your future.

Achieving financial freedom is about far more than just making money. It’s about transforming the way you think about wealth, building sustainable systems that align with your values, and creating opportunities for yourself and others. For many, the stress of living paycheck to paycheck and navigating systemic barriers to wealth can feel overwhelming, even insurmountable. But understanding and applying the right financial principles can break those cycles and unlock opportunities that once seemed out of reach.

That’s because financial success doesn’t happen by accident – it’s intentional. It requires discipline, clear planning, and a willingness to confront and change long-held habits around money. It also involves a shift in mindset, recognizing that wealth isn’t just a tool for survival but a means to design the life you want.

In this Blink, you’ll learn how to apply proven strategies for building wealth, from developing multiple income streams to creating generational wealth and managing your first windfall wisely. You’ll explore how to master your mindset, structure your finances, and set clear goals for long-term success.

So whether you're looking to escape the paycheck-to-paycheck cycle or aiming to elevate your financial game, let’s first get started by examining how you actually think and feel about money.

Overcoming financial trauma to unlock wealth

The way you feel about yourself shapes your relationship with money. This connection may not be obvious, but it becomes clear when you examine your financial habits. Are your spending patterns motivated by fear, guilt, or desperation? Do you hoard money out of anxiety or overspend to prove something to yourself or others? These behaviors often stem from financial trauma – deeply rooted experiences that shape your view of money and block your ability to achieve financial freedom.

For many, financial trauma starts early. Families struggling with bills and savings often pass on a scarcity mindset, where survival takes precedence over long-term planning. This isn’t just a personal issue – it’s tied to systemic barriers. For example, in 2019, the median wealth of White families was $188,200, compared to just $24,100 for Black families. Banking deserts, where communities lack access to financial institutions, disproportionately affect minority neighborhoods, forcing reliance on predatory services like check-cashing outlets. Without access to affordable financial tools, the cycle of scarcity only continues.

Healing financial trauma begins with self-awareness. Start by reviewing your spending habits over the last three months and sort your purchases into categories: necessities, indulgences, and wasteful or trauma-driven spending. Ask yourself: What does your money say about your priorities? If you’re overspending to cope with stress or hoarding money out of fear, recognize those patterns for what they are – responses to past trauma, not rational decisions.

Changing how you think about money is essential. Replace negative language with empowering statements: instead of saying “I’m broke,” say, “It’s not in my budget right now.” Seek professional support if needed – a financial therapist or advisor can help you untangle emotions from money decisions and create practical strategies. Start small by setting aside even $5 a week, building confidence in your ability to save and plan.

Your financial trauma isn’t your fault, but healing it is your responsibility. By confronting past patterns and building healthier habits, you can redefine your relationship with money, reduce stress, and set yourself on the path to wealth. You deserve to live with financial freedom, not fear.

The power of a customized budget for financial control

For many people, budgeting feels like an overwhelming chore. Even so, without a clear plan for your money, financial freedom remains out of reach. Every wealthy person uses a budget, not because they love the process, but because it’s an essential tool for controlling money instead of letting it control you. A detailed and personalized budget allows you to set goals, track progress, and adjust your finances to support both immediate needs and long-term wealth building.

The best budgets are tailored to your unique situation. Use a simple framework to divide your income into four categories: 15% for savings, 55% for spending, 10% for sharing, and 20% for investing. But always keep in mind, while these percentages are a great starting point, they’re not fixed rules. If you’re managing unpredictable income or high living costs, adjust as needed. The goal is to account for every dollar, ensuring your money works for you.

Diversifying income streams is the key to financial freedom

Relying on a single income stream is a financial risk you can’t afford to take. Diversifying your earnings through investments not only safeguards you against uncertainty but also paves the way for sustainable wealth. By balancing real estate, stocks, and business ventures, you can build a solid foundation for financial freedom and long-term growth.

Think of your investments as organized into three tiers. Your base investment is your most reliable asset, like a rental property, blue-chip stock, or successful business. Median investments focus on growth – perhaps a property that’s starting to generate income. Smaller, initial investments are those with potential but require time to develop.

Launch a business to take charge of your future

Losing a job can feel like the end of the road – but for some, it’s the beginning of a new opportunity. Ibrahim, a tech executive, found himself out of work after the pandemic and initially dismissed the idea of starting his own business. With $100,000 in savings and no immediate job offers, he decided to give it a try. He registered an LLC, opened a business bank account, and invested in essential tools to launch his tech services company. By leveraging his network and skills, Ibrahim quickly secured his first client, and from there things only went up. Entrepreneurship isn’t about waiting for the perfect moment – it’s about starting where you are and learning as you go.

Starting your own business is one of the most effective ways to achieve financial independence, but it’s not easy. It requires careful planning, a clear understanding of your goals, and a willingness to put in the work. Your first step is deciding why you want to pursue entrepreneurship. Whether it’s to escape the nine-to-five grind, create generational wealth, or simply gain more flexibility, your reasons should align with your values and long-term goals.

Build generational wealth with intentional planning

Generational wealth isn’t just about the money you leave behind – it’s about the opportunities and security you create for future generations. By planning thoughtfully, you can ensure your resources are used to break cycles of struggle and open doors for your family and community. For example, consider Helen, a woman who carefully planned her estate to benefit her family long after she was gone. When she passed away, her family used her savings, life insurance, and rental income to establish a scholarship fund for her great-grandchildren. Thanks to her foresight, they’ll be able to pursue higher education without the burden of debt. Helen’s story shows that generational wealth is about more than amassing resources – it’s about leaving a legacy that empowers the next generation.

The cornerstone of generational wealth is estate planning. Designate beneficiaries for your assets, such as bank accounts and retirement funds, and keep those forms updated. Overlooking this detail can lead to costly mistakes, like a former spouse receiving assets instead of your current family. Create a will to ensure your intentions are followed for assets without direct beneficiaries and to designate guardians for your children. If your estate exceeds $500,000, consider a trust. Trusts not only provide privacy but also reduce tax burdens and simplify asset distribution. For example, an irrevocable trust can protect your assets from estate taxes while ensuring they are distributed according to your wishes.

Managing your first million wisely is the key to long-term wealth

Reaching your first million dollars is a life-changing moment, but what you do with it determines whether it becomes a stepping stone to greater wealth or a fleeting achievement. Managing a windfall is as important as earning it, and it starts with understanding that your million is not actually a million after taxes. After accounting for around 37% in taxes, you’ll be working with approximately $630,000. How you allocate and structure this amount will shape your financial future.

Your first step should be contacting a financial adviser to establish a clear plan. They’ll guide you on how to balance debt management, investments, savings, and lifestyle expenses in alignment with your long-term goals. While paying off debt might feel like the most responsible choice, keeping some manageable debt could preserve cash flow for other wealth-building opportunities. Having an adviser ensures you’re making strategic decisions.

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What is You Deserve to Be Rich about?

You Deserve to Be Rich (2025) offers a comprehensive guide to achieving financial freedom by mastering the inner game of wealth. It explores strategies for overcoming financial trauma, building multiple streams of income, generating passive revenue, and navigating tax and insurance systems. With a focus on community and empowerment, it provides actionable steps for anyone to create lasting wealth.

Who should read You Deserve to Be Rich?

Entrepreneurs seeking to grow their wealth
Financially struggling families looking to rebuild stability
Anyone interested in mastering personal financial freedom

About the Author

Rashad Bilal, a financial advisor and co-founder of Earn Your Leisure, is known for his expertise in wealth management and financial education. He has helped numerous individuals and businesses develop strategies for financial independence and generational wealth, leveraging his experience to make financial literacy more accessible. He co-hosts the influential Earn Your Leisure financial podcast, aimed at bridging financial gaps in underserved communities.

Troy Millings, an educator, co-founder of Earn Your Leisure, and co-host of the Earn Your Leisure podcast, has dedicated his career to financial literacy and entrepreneurship. With a background in teaching, he has a talent for breaking down complex financial concepts into practical lessons, making wealth-building strategies more approachable.

Categories with You Deserve to Be Rich

Career & Success Money & Investments Personal Development Motivation & Inspiration

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