Joshua
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Living overseas is the dream of many Americans. Imagine waking up to a brand new country every day. However, most of us won't work overseas after we retire. So how would we survive? Well, we can live off of passive income. This is part seven of my series, where I discuss living overseas on passive income. Today, I will talk specifically about residual income from an automated business. Business is the wealth generator for many entrepreneurs, but it...
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America is expensive. So what if we took our well-deserved passive income and moved overseas? Could we find happiness away from the glitz and glamor of the USA? I believe that we can lead extraordinary lives overseas and find interesting people and places. I know that my wife and I plan to spend significant time overseas in Turkey. Welcome to the Living Overseas Passively book series, where we will prepare ourselves to live overseas, entirely on passive...
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US Treasuries are a safe haven for institutional and retail investors. You can use them in many different scenarios to ensure your money continues to grow. Treasury Bills are the shortest bonds that the US Government offers. They come in durations of 4, 8, 13, 17, 26, and 52 weeks. T-Bills compete directly with high-yield savings accounts and certificates of deposit for your investing dollars. What makes T-Bills stand out against other short-duration...
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We all want to teach our children healthy money habits. Even better, we want them to grow up and be able to give, save, and invest. There are two main methods in the media: staying debt-free and becoming a capitalist. They each have their time to shine in someone's life. I tried the debt-free way of life and could never get ahead financially. It wasn't until I became a capitalist that I enjoyed having extra resources. You can't run a household without...
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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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Wouldn't it be nice to have a self-refilling debit card? Well, it's here in the form of the Cash App debit card. Within the Cash App program, you can invest in dividend-paying stocks. The dividends from these stocks transfer directly to your Cash App spending balance. So, you can be shopping, receive a dividend, and immediately spend that money before you leave the store. It's a great way to live, and one my wife and I have lived in for over two years....
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We made it to our 70s, so congratulations to us. However, we still have much life left, so we need income.
Our top priority is protecting our capital at this age. However, we can use bond interest to invest in higher-yielding securities.
We should also attempt to build generational wealth by investing in Series "I" Bonds for the grandkids.
Finally, we need an active income component to our lives, or we will succumb to inflation. We can walk dogs,...
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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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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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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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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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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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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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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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Becoming wealthy isn't about accumulating enough money to secure our freedom. It's a journey we must travel through the three stages of wealth. Debt is the first stage where most of us start our journey. Our goal is to control our urge to spend by budgeting and finding happiness outside of money. Saving is the next stage. Here, we focus on protecting what we built through growing an emergency fund and a large savings account. Investing is the last...
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Times are looking good for savers and bond investors. Yields are moving upwards, while dividend yields are also increasing. However, this excitement comes at the cost of economic stability. With rising rates, the housing and stock markets may crash. We must be more prudent than ever when investing our hard-earned dollars. And there is no safer place to invest than with US Treasuries. Series "I" bonds yield over 9%, but for how long? Is grabbing 30-Year...
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Our parents taught us to work hard for money because that is how they survived. They told us to pay all of our bills on time and stay in good standing.
These are amazing lessons and will ensure that you always have lights, power, and food.
However, if you ever want to get out of the rat race, you'll need to obtain income-producing assets. These assets will work FOR YOU as you sleep, work, eat, and play.
To be truly free, you will need an army of...
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Would you buy a $25 gift card for $20? The magic would be when you redeem it for $25. What if you could receive dividends before you redeemed the gift card at a profit? That's the magic of preferred shares. The typical par value of a preferred share is $25. You can find them at great prices like $18, $19, and $20. Once you purchase them below par, you will start to receive dividends. Once the company decides to call the preferred share, it will pay...
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Our mom will probably receive a windfall as she ages. This can be from an inheritance, an insurance policy, downsizing her house, or cashing in a 401K. She will automatically turn this money over to a financial advisor if we don't know anything about investing. However, who is in a better position to ensure the family's financial longevity? You or a financial advisor? Therefore, we need to learn about high-yield savings accounts, savings bonds, 30-Year...
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Who you choose to marry is the most important financial decision of your life-don't take it lightly.
The good news is that if you learn to control your finances, you'll find someone whose goals align with yours.
If you and your spouse can work together, love each other, and prepare for the future, these could be the best years of your life.
Finally, you'll have to pick a home you can afford while allowing you all to save and invest for your future....