Podcast Summary: "How to Protect and Build Wealth After Divorce"

Podcast: Earn Your Leisure
Hosts: Rashad Bilal & Troy Millings
Episode Date: August 27, 2025

Main Theme

In this episode, Rashad and Troy dig deep into the realities of wealth protection and rebuilding after divorce. The featured guest—a seasoned entrepreneur who candidly shares his personal experiences—offers actionable strategies on recovering financially, the vital importance (and complexity) of prenups, and the role of mindset in turning post-divorce challenges into long-term wealth building opportunities.

Key Discussion Points & Insights

1. Financial Reset After Divorce

• Divorce can be a major financial reset, often wiping people out and forcing them to start over.

• The guest recounts going through his first divorce during the challenging economic climate of 2002-2003, right after the dot-com bust, compounded by business struggles and significant debt.

  "Divorce wipes out people financially. It's a complete reset."
  — Guest (01:59)

• He was left with half a million dollars in debt and was forced to halt contributions to his son’s college fund and sell his primary residence.

• Crucially, he chose to keep and buy out his ex from their apartment buildings, prioritizing assets that had the best potential for recovery and growth.

  "I bought her out of [the apartment buildings] and held onto those. There was a year when I couldn't even pay myself."
  — Guest (03:30)

2. Choosing Frugality and Staying Invested

• A frugal, disciplined mindset was central to his recovery—cutting back to essentials, avoiding unnecessary spending, but never ceasing to invest.

• The importance of “laying low, but continuing to invest” is stressed as a key principle.

  "I kept a frugal mindset and I just went low to the ground, man... I wasn't spending money on clothes, I wasn't spending money on anything, but I held onto my investments."
  — Guest (04:10)

• His investments—particularly in Jersey City real estate—eventually paid off handsomely because of his willingness to keep working and investing even during hard times.

  "One of the things... that worked for me was buying real estate in Jersey City in 2003. And if you guys live in New York and know what's happened with Jersey City, it's exploded, it's booming."
  — Guest (05:15)

3. Mindset: Offense Over Defense

• The guest cautions against reducing income or ambition out of fear of paying more child support—advising listeners to focus on income growth and future potential instead.

  "Too many people look at divorce as saying, I don't want to make no more money, because if I do, she's going to hit me up for more child support. I'm like, don't punk out. Just, you know, be responsible... but get busy on your offense."
  — Guest (05:42)

• Over the long run, unwavering effort and smart investing lead to major financial recovery and success:

  "My net worth has gone up probably, you know, probably 15, 20 times since then, because I didn't give up."
  — Guest (06:28)

4. Prenuptial Agreements: Reality vs. Theory

• Prenups can protect assets and heirs, but are emotionally and relationally complex, especially when there is a financial disparity between partners.

• The guest shares experiences from his second marriage: imbalance in finances, how the prenup process created mistrust, and legal pressures as the wedding approached.

  "What a prenup is, is when you get married, there are inalienable rights to a marriage that the state gives you right. And so when you get a prenup, what it's saying is, I'm waiving my right to this, his income. I'm waiving my rights to this, his assets... It feels awkward."
  — Guest (07:19)

• Even partners who initially say they don’t mind a prenup are often surprised when they see its legal implications.

  "A lot of people say they want it until they read it, and they have their lawyers give them feedback, and it's difficult."
  — Guest (08:08)

• He explains why he insisted on one: to ensure his children would be provided for and could build on his financial foundation, rather than having assets diverted away by a stepparent or contested estate.

  "There's no way in the world I'm gonna work this hard and not... have [my kids] start from my shoulders. Not from the ground."
  — Guest (09:09)

5. How Prenups Can Be Structured

• The “three sides” of a prenup: his assets, her assets, and jointly owned assets.

• Clear titling and record-keeping are important. In his case, separate assets continued to grow separately, and only joint assets would be split.

  "There's my assets, her assets, and ours. And so how it goes is my assets could continue to grow... and I would still own them as long as they were titled to me."
  — Guest (09:16)

6. Personal Aftermath and Lessons Learned

• Both divorces were ultimately amicable, with enduring business and co-parenting relationships.
• Having a will in place, in addition to a prenup, ensures his children's inheritance is protected.

Memorable Quotes and Moments

• "Just lay low and keep moving forward, keep investing your way, and in time, you'll see your way out of it."
  — Guest (04:32)

• "Although it may not feel like this, 10, 15, 20 years down the road, like Steve Jobs, connecting the dots looking backward, you'll see that it worked out."
  — Guest (06:09)

• "My rationale for a prenup was, you know, my sons are everything to me. There's no way... I'm gonna work this hard and not... have them start from my shoulders. Not from the ground."
  — Guest (09:09)

• "After dating for 10 years and being married for five years, we ended up calling it quits. And my prenup, you know, it helped."
  — Guest (08:32)

Notable Timestamps

• [01:51] — Transition into the main topic: financial aftermath of divorce
• [03:30] — Realizing the reality of carrying business and personal debt after a split
• [04:10-05:15] — Emphasis on strict frugality and holding onto investments
• [05:42] — Advice against shrinking from earning potential post-divorce
• [06:28-06:53] — Explaining recovery and long-term post-divorce wealth
• [07:12-09:28] — In-depth experience and challenges of arranging and living with a prenup
• [09:09] — The importance of protecting children’s inheritance
• [09:16] — Structuring assets through a prenup

Conclusion

This episode provides a deeply honest look at the financial turbulence of divorce—with real-world insight that's actionable for anyone facing similar challenges. The guest demonstrates that with discipline, smart asset management, and a growth-oriented mindset, it's possible not only to recover but to build greater wealth than ever before. The complexities and emotional weight of prenuptial agreements are also explored, with a strong emphasis on putting children’s interests first. The candid, practical stories and advice will resonate with anyone thinking about financial resilience—whether or not they’ve been through a divorce.