Joshua King
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Do you want to work for 35 years to receive $3,000/month in social security benefits? That sounds like a bad deal to me.
I would rather create a $3,000/month paycheck by age 45 and grow it into a $20,000/month paycheck by the time I turn 66.
But where do you start? I choose income investing as my investing style of choice. It's not for everyone because it requires knowledge, research, and faith in the system.
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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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Analysis Paralysis can prevent us from entering the markets and building wealth. Today, let's decide to fight our self-doubt and start investing. The hardest part of investing is picking your initial stocks. You feel as though you don't want to lose any money, and the weight of the world overcomes you. Relax, how you spend your first $200 isn't going to make or break your investing career. In fact, we will start with big corporations that have paid...
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Most of us sold out our creative passions in favor of starting a career in a field where we could earn a livable wage. How did that work out for us? More importantly, how do we give our kids a chance to follow their hearts and dreams? The answer is dividend investing. Dividends remain in the background of our lives, feeding us income that is essential to our lives. It will take time to build a dividend portfolio to support our expenses, but each month,...
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We all need to get ahead in life. If your parents gave you rental properties and dividend accounts, congratulations.
If not, welcome to the world of struggle. To get ahead, we can try it the old-fashioned way. We can try to work more hours, save more pennies, and stop spending entirely.
Another way is to increase our income by house hacking. When we get roommates, we create an incredible revenue stream that eventually sets us free.
Yes, we will...
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Do you feel like you're not making progress financially? Welcome to America and the world of capitalism. Inflation is the cost of being alive. We can't sit still for a few seconds without prices increasing somewhere. To get ahead, we must make a drastic change in our lives. This change could be moving to a small city or relocating overseas. There is no use fighting about how unfair the cost of living is in America. It's time to make a serious move...
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The homebuying process is challenging, even for seasoned veterans. It will drain you of resources, time, and emotions. However, keeping your emotions in check is the most difficult part of buying a house. We want to pour so much of ourselves into our future home. Yet, we need to stay as logical and grounded as possible. Yes, we can use our emotions to make the best choice for our families and futures. We just cannot let them overtake our wits and...
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We all believe we know how life is supposed to play out for us. We go to college, get married, get a high-paying job, and eventually become wealthy. This plan sounds foolproof until we realize we aren't getting rich any time soon. Usually, around age 40, we conclude that we will not become wealthy. This plan fails because we exert no leverage and don't have things growing in the background. If we can execute the same plan but have dividends, business,...
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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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When you leave home at age 18, you most likely will start from the bottom. But what entry-level position do you want-at a job or as a YouTuber? When you enter the workforce, you get immediate income. However, over the years, you do not build assets that continue to grow. As a YouTuber, there is a massive lag between your work and the final payoff. However, you are growing a portfolio of assets you can leverage for your entire life. In truth, combining...
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There are many options and methods to make passive income from your land. If you own or plan on buying land, this short book is for you. Today, I present three ways to make passive income from your one-acre lot. Of course, you will have your residence on the lot. However, you can still utilize the land (based on zoning) to build an empire. The ways are: Self-Storage. You can buy a pre-built barn house that you can rent as storage. Don't worry, there...
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You don't want to work your entire life, do you? I sure as heck don't. That is why I am building a stream of passive income every day. But what is passive income? Passive income is revenue where you don't exchange time for money. After you complete your project, the income will continue to generate. Let's do an example. If I work as a manager at a home improvement store, I make a salary. If they let me go, my paycheck would cease to continue. I would...
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Bond yields are on the rise, making it a great time to start bond investing. However, purchasing 30-Year bonds can be tricky. Through trial and error, I discovered how to buy 30-Year bonds directly from the US Government via TreasuryDirect. This is a step-by-step guide to get you started with investing in Treasuries. This procedure also works for 20-Year Treasuries. Inside the book, you will find a link to my free 30-Year Bond Interest payment tracker....
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How much stuff do you truly need? After reading a remarkable book, I find myself questioning what I own and why. It is good to evaluate how many things you collect because the metaverse is coming to a VR set near you soon. That means that you can collect an unlimited amount of stuff and spend a never-ending amount of money. Companies hope you bring your obsessive-compulsive behaviors into the metaverse, spending your dollars on their digital wares....
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Why do we need so much space? It starts with each of us getting our own rooms as kids; then it grows from there. However, if we can learn how to share space, we can be highly successful in this life. Better yet, we can be happy and financially free. It just takes a change in mindset. By living with parents or sharing a house with your sibling, both families can flourish. Corporations love when we dividend ourselves from one another; it makes them...
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Well, credits cards aren't evil, people just misunderstand them. As investors, we need to leverage every option at our disposal. Credit cards, when we use them correctly, can have massive benefits. We can use them as tools for emergencies, creating cash flow and spending rewards on our wealth-building journey. However, please understand that our financial lives must be near-perfect BEFORE using credit cards. We don't ever want to get into credit cards...
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Because of inflation, we will all need to supplement our earned income with additional income streams over the next year. Inflation will consume you and your family's budget if you do nothing. Now, it's time to think outside the box. The gig economy allows you to maneuver under someone else umbrella. These sites have pre-existing audiences eager to leverage your product or service. As an entrepreneur, you'll need to create a business from the ground...
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Bonds for every occasion. Bonds are an integral part of your retirement planning and portfolio.
Bonds (or fixed income) allow you to invest in assets that pay you interest safely. You may not achieve capital appreciation, but you keep your principal secure.
This means that you don't have to lose sleep during market downturns. During retirement, there is nothing more important than your financial security.
Building the correct allocation between...
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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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It is a new age, and it comes with a new financial product. I logged in to pay my car note, and I had the offer to skip a payment. Wow, for a $25 fee, I can be in the same financial position as last month. Make no mistake; this is a dangerous proposition. It is essentially a payday loan to yourself-putting a bandaid on the problem. Instead, finding the source of your financial trouble is much more challenging. Prepare yourself because it will only...