Send us a text Season 2, Episode #64. Not Me, But You! Podcast. The Summer season will be coming to close in the next couple of months. Fall is right around the corner waiting for us. My favorite brokerage is Charles Schwab. Why? Because they have superior customer service! I can get an actual human being on the phone in less than 4 minutes! Have 3 types of brokerage accounts: 1) regular brokerage account with access to margin to borrow money to invest! 2) Traditional IRA(money grows tax DEFERRED). 3) Roth IRA (money grows tax FREE!). We can invest in EACH of these three accounts. True high yield dividend stocks/ETF's like MSTY and ULTY and SMCY and YBIT, and XDTE etc. ... can be purchased/held inside of you Traditional IRA and your Roth IRA and your regular brokerage account. Only ONE of those accounts is taxable NOW! Yes, you can choose to sell or resell items online and make profit. But that takes some work. I believe selling physical products online to get rid of clutter around your home and to get some cash that you can invest. But what is better is to invest in dividend paying assets that bring you cash flow on a schedule( every week or every month). Sometimes assets also pay out QUARTERLY which is every 3 months. All that is required of you AFTER you invest in a dividend asset is to: "Roll out of bed, and not be dead!" And you get paid! What could be more passive? What could be easier and NOT require a huge investment of your time to continue to bring you cash flow? Remind yourself, that poor people buy things. Wealthy people buy/hold assets! Wealthy people look to build THEIR OWN cash flow. Rather than wait for a retirement check/pension check (cash flow). Rather than wait for a government check like Social Security (monthly cash flow). Note, that we often work our entire lives simply to GET cash flow every month! So not start building your OWN cash flow today? Build your "personal ATM machines" inside of each of the 3 brokerage accounts. When you do a trade/purchase in one, do the same in each of the other 2 accounts. I call this "mirrored trades." You can change your life, radically, in a good way, in 4 years or less. But it requires discipline and consistency. One "life hack" that I like is food shop and do my own meal prepping each week. I still go out to eat or occasionally get take out food. But my LIMITING doing that, I SAVE MONEY. Great Quote: "The entire point of life, is to take chances on dreams, that seem crazy to most people. But feel like destiny to you!" Do 3 basic things each month: 1) Buy/hold Bitcoin. 2) invest in high yield dividend stocks/ETF's. 3) Sell simple option contracts (cash secured puts and covered calls). I also LOVE to sell option contracts at Robinhood. Very user friendly site/app. And do all 3 of these things by simply pressing buttons your phone. The purchasing power of Bitcoin goes UP over time. We can't say that about fiat currency (where our purchasing power goes DOWN over time). Inflation causes prices to rise continually. Have courage today, to pick one thing, and work on your dreams. We will talk again soon. I'm not a financial advisor. This podcast is for education/entertainment purposes only. You will need to do your own research and accept responsibility for the results of any money you choose to invest. I love using Schwab.com to buy/sell stocks/ETF's/closed end funds/options. Schwab has a very user friendly app/website and their customer service is excellent. I can easily get to speak to a human being whenever I have questions.
