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We used to believe in discipline, hard work, and consistency. Those words have turned into independence, freedom, and individualism. However, the only way to create an extraordinary life is to build it from the ground up. This requires you to stay on a routine. Yes, routines are boring, as they are the opposite of spontaneous. But, through a regimented lifestyle, you can make small daily wins. These wins can compound into a beautiful life you cannot...
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In December 2022, my wife and I received $565 in special dividends from three closed-end funds. This money is life-changing because it represents the path to true wealth. To become rich, you must utilize your brain as much as your body. Building passive income is the ultimate achievement outside of keeping your family together. Special dividends are another added benefit of earning money while you sleep. I prefer income investing because it puts money...
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Income investing changed my life drastically. Now, I no longer worry about running out of money or what to do in case of emergencies. But, I wasn't always an income investor; I was a worker-bee. Growing up in the workforce didn't get me ahead financially. Once I started to understand income products such as closed-end funds, preferred shares, and mortgage REITs, my income started to multiply. Being an income investor requires discipline, vision, and...
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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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Do you believe you can save $100,000? If not, you have some powerful limiting beliefs working against you. The first step during your season of saving is overcoming limiting beliefs and a scarcity mindset. You can achieve this by reading books and believing in the process of compounding. Not only does our wealth compound but also our knowledge. Once we get the ball moving, we can quickly amass $100,000 in less than five years. Good Luck!
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Are you entering the Christmas season in debt? Do you want to enjoy Christmas in a debt-free, cash-flow-heavy environment? You can have it all and then some, but it comes at the cost of financial discipline. First, you must determine your emotional connection to money and spending. Next, you must live on a budget and pay down all your debt. Saving and planning are the next steps. Finally, creating passive income from assets will give you a positive...
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How has inflation been on your wallet this year? It doesn't feel good to fall behind financially, does it? It's incumbent on us to stay ahead of inflation. Owning a home is a significant resource to overcoming our battle with higher prices. When we lock in a 30-year mortgage, we prevent someone else from dictating our principal and interest payments. However, that is only the start of the battle. We still must create passive income by renting rooms,...
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I once believed you could survive in the workforce long enough to build a truly passive retirement. Let's say this takes 25 years. However, the workplace has degraded into a circus we must avoid. Using a combination of active and passive income, we should aim to be free in 15 years. Lowering our housing costs is the number one way to free ourselves. Once we determine our required household income (say $6,000/month), we can work on replacing it. By...
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The 30s are the toughest decade of our lives. It's like going through high school and college again. There is so much going on that saving and investing are difficult. However, we must persevere. Our 30s are a great time to invest in Series "I" Bonds because they can double as an emergency fund in a pinch. We should also set a goal to build a $300/month dividend portfolio to assist with the little things in life. We can survive and thrive in our...
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Five percent Inflation will persist for another 5-10 years. There is simply too much money floating in the hands of consumers. Therefore, we must create our own streams of income to combat inflation. My favorite countermeasure is income investing. We have three choices with each dividend we receive: reinvest, spend, or hold. We can make each choice as the month progresses. We never know which commodity inflation will; hit hardest; one day, it is gas,...
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This road trip will be my final as a US Marine. The last 24 years flew by in a blur of desert and humidity. Now it's time to live on the passive income I discussed for the last three years. Our first step is to use dividends to supplement my retirement income. Dividends are the most passive type of passive income. However, they require a massive cash outlay to produce a significant paycheck. Therefore we must start early and often to build an extensive...
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They teach you to work. They teach you to struggle. However, they don't teach you to enjoy life. Somehow, our lives have become about working for money, buying things, and upgrading to bigger things. Life is about paying it forward, spending time with loved ones, and growing your community. If you live below your means, you can quickly retire on passive income. Then you will have time to spend time with whoever you choose. However, they did not teach...
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It's okay to spend money on things you love. The trick is to curb spending on items for which you derive no pleasure. Keeping a daily budget is the best way to focus on things you love. Daily budgeting helps you track what you love, say, coffee. It also ensures you are not trying to consume too much within the same timeframe. In essence, it helps you choose between going to a movie or buying Blu-Ray (for example). Don't fear tracking your spending;...
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It's challenging to gain your footing as a head of household. There are many competing interests financially that you have to juggle. Saving for expenses, vacations, school, and maintenance is part of your daily routine. However, we still need to save for emergencies, invest for retirement, and build a nest egg for future generations. How is one to thrive in this overwhelming environment? First, learn to relax. Then we only need to create a road map....
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We all must account for inflation in our daily operations. Inflation never goes away, so we may as well make it part of the family. Investing in Series "I" Bonds and Treasury Inflation-Protected Securities (TIPS) are two ways to beat inflation. They each have their advantages and disadvantages, but you must understand how they can fit into your investing profile. These securities are only part of your overall portfolio management and can help you...
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Is options trading risky? There are no risky investments, only risky investors. This statement means that if you can control your fear and greed, you have a shot at winning big with options. The most important rule of trading options is never to rely on the income it produces. Your emotions will affect your decisions as soon as you become dependent on the outcome. It's best to put yourself in a position where your "options money" is optional. I use...
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So, you want to trade options? Be careful; there are many traps on the battlefield we call the options market. An excellent place to start your options trading journey is by selling covered calls and cash-secured puts. However, if you are not careful, you can easily acquire stocks with a high-cost basis. This will put you in a position where you can't trade until the stock price rises. To avoid this trap, you must use technical analysis to acquire...
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There are many goals to investing our money in the stock market. Three of the most important are beating inflation, creating a paycheck, and building generational wealth. I love being an income investor and aiming for 8-10% returns from my portfolio, paid for in cash with dividends. However, I can sprinkle a few options trading to increase my annual returns by over 30%. This extra income ensures I can ultimately withstand any inflation that comes...
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Are you a dividend investor? Do you want to generate even bigger returns from your portfolio? Try selling cash-secured puts to increase your monthly yields. Cash-secured puts are a safe way to sell someone else insurance while keeping the premiums. To sell a cash-secured put, you need the total cash it would cost to purchase 100 shares of a stock at a particular strike price. If the stock price falls to the level of the strike price, and the owner...
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If you let it, trading options can be the most emotional way to earn money. We must put aside our temperaments for the greater good to achieve a consistent income. Long strangles aim to earn you profit no matter which direction your stock price moves. However, you'll need to take profits early because your options decay daily on the market. My goal is to earn 5-10% of my invested income on each trade. So, if I buy $8,000 worth of puts and calls, I...
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