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Who said that going to work daily would get ahead in life? They told us to believe that we can grind away toward financial freedom. However, that's not the case. To become free, we must work hard for income-producing assets. With inflation on the rise and a recession on the horizon, it's more important than ever to value our money and resources. To get ahead financially, we live below our means, find more work, and create passive income streams. Doing...
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The "Quiet Quitting" and "Great Resignation" movements are all about caring for yourself and your mental health. However, the only way to achieve what you want in life is to be obsessed toward your passions, dreams, and goals. Your job was never intended to be your passion; it's a means to an end. You go to work to pay the bills, feed yourself, and ensure your family has resources. Your passion is what keeps you reading late at night. It's what you...
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Keeping your affairs tight is tough in your 20s. You will start from the bottom of a company, and begin your search for a spouse. It's easy to focus on jobs and relationships over wealth building. However, this is the best time to build wealth because you are entirely in control of your finances. You can use bonds to build an emergency fund, anticipate capital gains, and create income. There are two types of bonds we should use during our 20s. These...
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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...
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Saving is something that we don't learn naturally. It actually takes a lot of documentation to make saving a routine habit. Inside, I list my process of identifying and documenting all of your expenses on a spreadsheet. Then, over time, you reduce or eliminate these expenses and turn them into payments to your savings accounts. It's the same money, but it goes to different places. Eventually, you will force yourself to save significant amounts of...
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As parents, we are responsible for our children until the day we leave this Earth. Yes, this is a different mindset than when we were growing up. Unfortunately, the economics of life has changed. No longer can one person achieve everything in one lifetime-they will need help. It starts with making the tough choice between college, trade school, or the military. But this decision involves a significant factor-if you have a property for your children....
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We all love seeing beautiful weddings on tv. The lights, flowers, and gowns all look so fantastic that many of us dream of having our own wedding. However, there can be a massive cost to having a top-tier wedding. Therefore we must remember the true purpose of a wedding and marriage; to be with the one you love. Starting your marriage on the right financial path can be challenging if you overspend on a wedding. Quickly after the wedding, you may have...
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Do you fear you could lose your job during the next recession? Having only one source of income can be pretty risky. Whether you lose your job or not, you'll need to create another revenue stream. Why not start an online business? An online business has the potential to reach a massive worldwide audience. The more people you serve, the wealthier you become. However, building an online presence takes time to compound and grow. Do you have the grit...
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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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Bond investing is making a massive comeback. You can reinvest into higher-yielding products as you receive your coupon payments. I just received $17 of bond coupons and went shopping within my income investing portfolio. By first filtering your money through bonds, you can protect your principal at all costs. But, by reinvesting in high-yield products, you keep an income element in your portfolio-building multiple paychecks along the way. Good Luck!...
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There has been a lot of talk about thought leadership recently. You may have to become a thought leader to get to the forefront of entrepreneurship and business. But what is thought leadership, and how can you become a thought leader? Thought leaders have their own unique vision and can articulate it clearly. But you cannot just get on stage and throw your opinions to the world. You must be well-read, clear, and concise. Reading, writing, and arithmetic...
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You have a lot going for you in your 20s-mainly the ability to work extremely hard and recover quickly. However, you also must overcome natural urges from your hormones and school programming. If you can build an income portfolio that pays your $1,000/month in dividends, you will be free for life. Time is the critical component of compounding, and you have time on your side. Your $1,000/month income stream will turn into $11,000/month in your 40s....
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Do you want to become an income investor? Income investing has improved my life, so I love discussing it. One of the significant portions of income investing is preferred shares. Preferred shares are notorious for hiding in plain sight. There are many ways to invest in preferred shares, with time being time most common limiting factor. If you have the time, picking individual preferred shares is the best method. However, you can also dollar-cost average...
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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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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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I am here in San Diego against my will; however, that doesn't mean I can't continue to save and invest. It's tough to budget for success here in California. Living in a high-cost-of-living area requires a mindset that most people cannot fathom. First, I rent a room and drive a $17,000. Those two items are how I keep my expenses low from the start. Next, I give myself $50/day for food, gas, and miscellaneous items. I can stay under budget reasonably...
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As income investors, we constantly search for high-yield dividend products; some of the top dividend producers are mortgage REITs. However, these products could be the most challenging investment out there. To safely invest in mREITs, you must understand the relationship between mortgage-backed securities and treasury bonds. Once you understand the hierarchy of bond investing, starting with the Federal Funds rate, investing in mREITs will be logical....
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Do you love playing video games? I love playing Pokémon games when I get the time. Would you love to earn money passively while you play?
It takes a lot of time and effort upfront to get things in motion, but it is possible to make money while playing video games.
The key to everything is creating a blog as your home base. Then you can add evergreen video game content, podcasts, books, and unique collectibles to your content inventory.
The blog...
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The stock market is full of many securities, so knowing why and what you buy is essential to survive. Most investors will only purchase common stocks, but preferred shares offer significant benefits as well. Common stocks have unlimited upside and dividend potential. In comparison, preferred shares can give you what you need exactly. Combining common stocks and fixed-income preferred shares will give you a paycheck and a nest egg. Use them both to...
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What's your retirement plan outside of social security and your 401K? Please tell me if you have more than those two items on your list. Retirement is survival in the unknown, and those who prepare the best will win the battle. We need to have multiple streams of income that also increase over time. I like creating a "combo retirement" that consists of two sources of income, such as rents/dividends or business/royalties. You'll also need to prepare...
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