Send us a text Season 2. Episode #70. Not Me, But You! Podcast. Poor people buy things. Wealthy people buy/hold assets. I suggest that everyone have 3 brokerage accounts: 1)Regular brokerage. 2) Traditional IRA. 3) Roth IRA. Build "personal ATM machines" that cash flow for you INSIDE of EACH of these 3 accounts. Do these 3 things to become wealthy: 1) Buy/hold Bitcoin. 2) Buy/hold true high yield dividend stocks/ETF's. 3) Sell simple options contracts for IMMEDIATE cash flow (cash secured puts and covered calls). The most important thing of these three things to start first with is selling simple options contracts. It will bring you most cash flow the quickest. ALL assets carry risk with investment. There is no way to avoid this. There is NO "Unicorn Invesment" = Zero risk/100% guaranteed. This investments does NOT exist. It's something you can search for but never will find! So get used to ACCEPTING a certain amount of risk when investing. Most people who are wealthy ALSO took some risks to become wealthy. ROTATE your dividend payments into LESS risky things like QQQI and SPYI. Option selling Tiers: Once you reach $25,000 in liquid cash, that's the first tier. Then when you reach $50,000 in liquid cash that's the 2nd tier. Then reaching $75,000 in liquid cash is the 3rd tier. And finally, hitting $100,000 in liquid cash gets you to a point where you are making a FULL TIME income and don't need to work a 9am-5pm job, unless you choose to. Of course you can scale up from $100K and continue to build your "money ball" of cash, which allows you to make even more profit from option premiums. And while you are scaling up no matter what tier/level you start at, allocate some profit into HIGH YIELD ETF's. Doing this will help to build your weekly/monthly DIVIDEND cash flow which is SEPARATE from your option selling cash flow! Let's do some simple math. If you can average make 2% ROI each week selling option contracts...there are 52 weeks in a year. So what is 52 times 2? Answer: 104% PER YEAR. Which means you can DOUBLE your money EVERY year simply by selling option contracts. 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.
