Creating Income Streams Can Make You Rich
I’m going to do what no financial guru will do for you in this blog without charging you thousands of dollars. Why am I going to give it to you almost free? Because I want to create value in your life. If this one blog posts make a difference in your life, I will be happy. I’m going to share some investment suggestions that will make you money. (Nothing guaranteed of course).
First, let’s talk about something difficult. Debt. Specifically: Bad debt. What is “Bad Debt?” Bad debt is any debt you are paying that doesn’t create income. If you have credit cards that you are paying interest on, this will be your first thing to “make you money” which is to get rid of all bad debt. Credit card debt if not used for an investment that would make you more in interest than the card charges you is bad debt. I know this is a hard pill to swallow, but let’s think about it logically. For example, if you have a balance you are carrying with Discover Card which has a 24% APR, you would need to find an investment that delivers more than 24%. So let’s say you do find an investment that is yielding 30%. When you minus what you are paying Discover, your profit instead of 30% would be only 6%. So the interest you are paying your credit card(s) is eating away at any profits you may accrue with investments. OUCH. Bad Credit Card debit could also limit your investment choices as anything less than 24% would be awash in any income gained. So, as much as it pains me to say, your FIRST focus needs to be to eliminate all bad credit card debt. Need some ways to do this? Click here for How To Eliminate Credit Card Debt The Smart And Fast Way
Investment #1 Your Own Residual Income Business.
If you want to become rich, trading time for money is the worst way. (As in an hourly job). Going into business for yourself (even part part-time) can create residual income streams for you and your family if you get in the right business.
Multi-Level Marketing is the type of business that can create residual income. This is how the rich get richer. Repeat income, coming in month after month after month, 24/7. This is how you too can *become rich also by using the power of residual income with a low investment. While a low investment financially, it does require more of your time, especially for the first 3 to 5 years to build a large team of people (no, you don’t have to find them all) and as your team reorders product for themselves and also has retail customers, you make a percentage of commission from their sales, so many levels down. No inventory (except for your own products that you and your family use along with possibly a Premium Starter Kit to show prospects in person). No employees (everybody works for themselves) little overhead (work from home or anywhere else you want), and so many other benefits. Also owning your own part-time business with the intention of making a profit can create extra tax deductions for you that you wouldn’t have as an employee. (See a tax professional for more details). To learn more about creating a lifestyle of health and riches, click here.
Investment #2 Investments in the Dow Jones Stock Market for Growth
While it’s impossible to time the market perfectly, there are indicators that happen that can create an opportunity for income investments. How would you like to get it right at least once every four years?
There is a thing that happens every four years that can help you in picking stocks for growth. This thing is called “The Presidential Election.” As a general rule according to Jim Crammer’s book Mad Money when you are in an election year, depending on who will probably win the elections, you’ll want to buy or sell certain sectors. If you think the Democrats were going to retake Congress, he suggests selling the defense contractors, because they would cut defense spending for all but homeland security. Yet at the same time, it would be a good bet to buy anything that makes money from Medicare or Medicaid, because you would assume the Democrats would be more likely to increase spending there. After determining the sector, look at the individual Company’s stock to consider which one to buy with all factors weighed out. (Read his book to learn which factors to consider).
Investment #3 Investments in the Dow Jones Stock Market for Dividends
Robert Kiyosaki talks about this a lot. When you own a stock that faithfully pays out dividends regularly, you make money. The more stock you own, the more dividends you get paid. You want to research on your own companies that have paid out dividends faithfully over the years or you can buy my report of the study I’ve done of solid companies that pay out dividends regularly. My report is only $19.95. (Email me and I’ll tell you how to get a copy). Since I’ve done all the work for you, it’s well worth it. It lists the company name, stock symbol, how long the company has been in business for, and on average how much dividends each company pays.
Investment #4 Hard Assets- Real Estate for passive income
Both Robert Kiyosaki and Grant Condone both say passive income is important to have.
Passive income gets taxed less than earned income. Something very important to keep in mind. Passive income continues even when you don’t. You get injured, you die. Your passive income continues. (Something vital to provide for you and your family). The last thing you want is, you die and the only thing your family gets is a life insurance check. Granted, having life insurance is important if your assets are low, but that’s not the only thing you want to leave your family. You want to leave them passive income. Your goal should be to match your active income with passive income. If you have a job or business and you’re making $100,000 a year, your goal is to have $100,000 a year in passive income.
Both Grant and Robert say to invest in hard assets such as Real Estate. Even when the currency goes down, you still have your income producing Real Estate.
This blog post is by far from exhaustive in the types of investments you can make. But this blog post I believe is a good start to get you on the way to creating income streams that can make you rich.
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May your days be filled with good health, good friends, good food, and most of all; much love,
Dexter D Black
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