Joshua
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Are you single and living in a big city? Has the cost of housing prevented you from buying a home? Are you tired of being boxed out of building wealth while paying rent? Then, it's time to make a change and work toward buying a home. However, it will require an exorbitant amount of work. In fact, you'll need to start an online business while you keep your full-time job. I recommend an online business because it takes full advantage of the power of...
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So you want to retire in California? You'll need to be richer than you can imagine. California is an expensive place to live, even when you are working full time. To retire there, you will need at least $200,000/year in passive income. Impossible, you say? No, it is more than possible if you are serious about retiring comfortably in California. The trick is buying real estate early, moving somewhere else, becoming a real estate mogul, and building...
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Most of us grew up in households where talking about money was forbidden. We may have heard that money is the root of all evil. These beliefs have a significant effect on our relationship with money. As we progress through life, we tend to keep our finances close to home. We don't want people in our business. However, opening up around the RIGHT PEOPLE can lead to further successes. It is the exchange of ideas and thoughts about money that can help...
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2022 was an amazon year for savers. How much interest did you earn on your savings accounts and certificates of deposits?
Discover bank was kind enough to send me an email summary, so I decided to share it with the world.
HYSAs are essential to your growth as an investor because they are an incredible place to start.
I received $0.06 from my HYSA two months before I received my first dividends. So, an HYSA was my first source of passive income....
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Are you a prolific writer? Do you love to self-publish an ungodly amount of books? Good, because I am the same. After visiting two bookstores this week, I had an epiphany. Bookstores have too many types of material to bring people together. Yes, there were lots of people inside these stores, but they were all on individual missions-it was like a carnival. What if the books were of the same type? If I opened "Financial Freedom Bookstores," everyone...
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Times are rough, and the future only holds more pain. What can the average American do about inflation? When all else fails, it's time to return to the basics. We need to track and document every penny that comes into our household. There are only two ways to become wealthy-reduce expenses and increase income. As you create more cash flow, you must invest in dividend-paying stocks. Dividends are the key to living your best life. The more you invest,...
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Can you save $10,000 in a high-yield savings account (HYSA)? It is no easy task, but I believe in you. The first step is understanding why saving money is vital to our future. We cannot pause our lives with every emergency that arises. Next, we must understand that our emergency fund should not be used frequently or randomly. In fact, we should aim never to use these funds. Finally, we must create additional income streams to increase our savings...
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It's a beautiful time to be alive. I feel as though the colors of the world are more vibrant than ever. The sun's rays feel so much warmer than they did earlier in my life. A big part of my joy comes from having a wonderful spouse and family. Another portion of my happiness comes from being debt-free and receiving passive income every day. Of all my sources of passive income, rents are the most boring. However, that is the beauty of rental income-the...
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Living the American Dream will drive you to be broke rather quickly. However, if you can leave your 20s with no debt, you'll have a fighting chance.
How do you stay debt-free in your 20s? First, you have to build the mindset that you are already behind financially.
If you can navigate through your 20s understanding that you need to save and invest at all costs, building positive cash flow will be easy.
The four things to watch out for are housing...
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Once you turn 60, you can access your taxable 401K and Roth IRA. But what the heck are you going to do with this large sum of money? Most people have analysis paralysis and run to a financial advisor. However, you are not an idiot. You saved the money; therefore, you can learn how to grow the money. The absolutely worse thing you can do is take the money out and buy a boat or car. Anything short of that is moving in the right direction. We can use...
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As a couple in a small city, you are in the best situation to become homeowners. You get all the perks of a partnership but without the financial and time constraints of having children. Therefore, you have to make your time count. Living in a small city gives you a much more realistic chance of homeownership. But nothing in this life is given. You must work hard at work and ensure you are both on the same financial page. Also, ask questions such...
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Living below your means gets a lousy repetition. People believe this means you can't buy Starbucks, eat out, or go on vacation. LBYM simply means you live a couple of notches below your income level. If you earn $6,000/month, you try to live on $4,000. We call the extra money cash flow, and it is the heart of your household. We use the additional income to save and invest. Saving and investing have different purposes, but all lead to the same results....
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Do you crave the feeling of being wealthy? Is it too tough to get ahead in your major metropolitan city? Maybe you should take your huge salary and move to a small city? But, small towns usually don't offer large wages, so how do you make the transition? Passive income is the key to success. Build massive streams of passive income BEFORE moving to a small city. Living in a town can give you all the benefits of being in America while letting your passive...
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Rental income is a vital part of our passive income portfolio. Rents tend to go up faster than inflation, and hard assets are great to own in this inflationary environment. But, most people cannot afford to own a home, let alone owning two. So, how do we earn rental income without owning rental properties? There are tons of ways to create rental income. Afterall, we are living in the sharing economy. The main problem is people's unwillingness to...
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Do you love to learn and try new things? Great, you can write product reviews covering products and services. Congratulations, you'll be like every other affiliate marketer on the internet. We must take it one step further. After you generate your reviews, you want to keep creating original content around the product or service. Eventually, your content will take on a life of its own. People will follow you for candid reviews plus zany content slices....
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I love income investing; it has changed my life in ways I am still discovering. I divide income investing into six different types.
Today, I want to talk about my favorite type of income investing: closed-end funds.
CEFs can provide a consistent monthly income that can slowly replace your employment paycheck.
It is difficult for most people to invest for income instead of trying to get rich. However, CEFs may be your ticket to freedom. Good Luck!...
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Going into the office has lost the luster it once demanded. Today, we stay in overly long meetings, lack training resources, and watch our fellow employees play on their phones all day. Remote work can be a dream come true for top performers. I envision that most remote workers will soon work in a freelance-style consulting capacity. It is becoming increasingly expensive to maintain a large number of lazy employees. Do you have what it takes to be...
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Society tells you to go "be happy." They tell you to find the perfect job where everyone loves you, and rainbows and butterflies come from the ceiling. But this dream job is all rubbish. We create our reality and our own happiness. The true path to happiness is through family and success. A job is just one pit stop on a cross-country journey. Once you find your true path, the significance of your job will diminish. But you will need to keep the lights...
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Many people are quitting their jobs and are silently putting less effort into their tasks. These movements sound great on paper, but what lies underneath the surface?
How does it look when you are 40 years old and don't have a career? Will you have the resources to provide for your family?
The timeframe between the age of 24-35 is vital to building your status in the workforce. The harder you work here, the less stressful you will be from age 36-50.
I...
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We should be winding down in our 50s-less work with more cash flow. Does this sound impossible? If you have your money working harder than you, you can achieve success without much effort. But this takes passive income. Of course, we want to utilize closed-end bond funds to receive a high income and replace our paychecks. But we also want to buy Series "I" Bonds for our kids. These bond nest eggs will ensure our kids earn passive income in their 30s...