Actor Michael Rainey Jr. credits his mom for teaching him how to save money while he was a child actor.

American actor Michael Rainey Jr. recently shared some insight into his financial upbringing, thanks to his mother. In a recent appearance on Forbes' "New Money" podcast, the "Power Book II: Ghost" star opened up about the valuable lessons his mother taught him about money and financial responsibility from a young age. Rainey, who is known for his role as Tariq James St. Patrick in the "Power" franchise, was fortunate enough to begin his acting career at just 9 years old after being discovered by a talent agent.

Rainey recalled the fateful day when the talent agent approached his mother and complimented her son's potential for acting and modeling. From there, he began attending auditions and landed his first acting role in the film "Un Altro Mondo" at the age of 13. Four years later, he landed his breakout role as Tariq in Starz's "Power," earning a considerable amount of money for a supporting role.

However, Rainey was unaware of the exact amount he was making, as his mother would take his checks and save them for him to use when he became more financially responsible. It wasn't until he was 17 or 18 years old that he realized the significant amount of money he had saved up thanks to his mother's guidance.

"My mom did a fantastic job of helping me save my money since I was a kid," Rainey shared. "I didn't really know the numbers I was making until I was older. She made sure to put a lot of it away for when I reached the age where I could make more informed decisions about my finances."

Now, at 23 years old, Rainey is grateful for the financial education he received from his mother and is ready to take control of his own money management. He has been investing in land ownership, bitcoin, and Ethereum, and has also ventured into entrepreneurship with his production company, a Jamaica-based restaurant called Catch 22, and an ownership stake in a dispensary called Herbs Jamaica.

Despite his wise financial decisions, Rainey also enjoys treating himself to some material items, such as his beloved Porsche 911 Turbo S. He even plans to turn his passion for cars into a business with the launch of his own car channel, where he will feature "the craziest car builds from all over the world."

Rainey's story serves as a reminder of the importance of financial literacy and responsible money management, especially at a young age. Thanks to his mother's guidance, he has been able to build a successful career and make smart investments for his future. And with his new ventures, it's clear that Rainey's financial future is looking bright.

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