HOW TO CREATE PASSIVE INCOME?

Passive income is not always easy to develop ínfima to you might lose money trying to create it. So in this post I want to show you how I currently make passive income and how you can start creating passive income for yourself.

Keep in mind it is not easy to create passive income with that in mind, what ever trade you want to go into, study first by reading books. This will reduce the risk in creating passive income.

STOCKS

Stocks can be one of the most passive investments, depending on how you invest. I prefer investing for the long run because slow and steady wins the race. So one of the main factors I like to see when I invest in stocks is dividends.

Dividends are company earnings that are annually distributed amongst shareholders.

Also in some cases dividends is handed out monthly, so make sure to really study your stocks by using www.sec.gov. From the SEC website you can search up company records, all you need to do is go to the search tab and type in “EDGAR SEARCH,” once land on that page type in the company’s name or ticker symbol.

HIGH YIELD SAVINGS ACCOUNT

High Yield accounts are easier to find but to make a significant amount from interest, you have to have over $10,000 in the account in my opinion. These account are made to give you higher returns compared to a regular savings account or bank account.

Remember this is less risky, when it comes to making passive income, so the returns are not really as big as stocks. What I suggest is to create an account just so you can have money ready to use for convenience but still have money working for you by paying you interest.

ROYALTY FEES

There are plenty of places to collect royalty fees, just to give you an example for “The Way I Save” one of the sites that the blog collects a royalty fee from is merchandise. Teespring is a good site to create graphics that can go on any product and if someone purchases your product you collect a royalty fee.

Now each product can give you more or less money the profit margin varies, but it’s fun and simple to set up. If you want to see an example on how it looks click over to the products page of “The Way I Save” located on the menu tab.

Simple Money Management

Every good business and rich individual knows how to do one thing very well. Successful people probably don’t touch on this topic a lot, but the route of financial success is simply good money management skills. Managing your money can be difficult at times, but although it’s difficult it can be simple too.

This post is going to be dedicated in showing you simple ways to manage your money, so that you can have the keys for success.

PAY YOURSELF

I know a lot of influencers talk about paying yourself but they don’t particularly share how they pay themselves.

these are the ways I pay myself weekly and sometimes monthly:

• my 401(k) plan

• buying stocks

• other investments.

Essentially I take whatever is left in my savings accounts and use it to do one of these three things. Now since my 401K is already taken out of my paycheck, I really just use my savings for the other two.

SYSTEMS

I know a lot of peoples method or system when it comes to their personal finances, is to simply cash the check and stuff it in a box. Cashing your check is the worst method or system you can use, as Grant Cardone says “cash is trash.”

This is true because it doesn’t pay to have cash, it pays to have assets.

My personal method or system for handling money, is to deposit everything I make into my savings account. All I do is deposit and transfer for bills, that way after paying my bills I’m able to see what’s left for possible investments.

You don’t have to use this method, all I’m saying is that this works for me so you should try it and see if this system works for you. You can create any method or system for yourself as long as your know how you spend money.

These are just a few concepts I use I hope this helps you when it comes to your personal finances. Like I said from the beginning managing money can be difficult but also simple, so I hope these concepts were simple enough for you.

You can let me know if these concepts work by leaving a comment on this page.

Thank you for reading

THE WAY I SAVE

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How to Leverage your Money

I’m sure everybody’s heard of the saying buy low and sell high and that’s not just for the stock market that’s for every single thing you purchase. In this post I want to let you know about ways to leverage your money. I’m going to be sharing the ways that I personally have considered or successfully done myself.

BOOKS

So without further ado the first way to leverage money is with books. I have personally invested in several books like for example stock market 101, The intelligent investor, and the richest man in Babylon. With this investment of $57 in just these three books, I have made over a thousand dollars in 6 months.

This is just one example of how reading or listening to books can actually leverage your money. I am still utilizing the information used in these books today, which is also proof that it is a long term investment.

COURSES

When it comes to courses it is another way to leverage your money, but you have to be careful when it comes to choosing of course. I say this because there are courses that charge an arm and a leg for information that could’ve been provided somewhere else cheaper.

Also you have to be strategic when choosing a course what course can you take that can translate into more money for you. For me it was taking an accounting course to help increase my know-how of budgeting and maintaining my personal finances.

MENTORSHIP

Finding mentorship can be priceless and offered for a little to no cost, but there are people in places that charge you for their mentorship.

My advice is to start start with who you know and find people who invest their money in particular ways.

For me I have found plenty of mentors to draw near to who invest in real estate that are not only willing to share what they know, but are capable of partnering with me on deals.

Thank you for reading

The Way I Save

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Goals For your Money

Many people create goals they want to accomplish at the beginning of each year. Some people accomplish these goals, others forget about the goals that they have set for themselves. The most successful people break down their goals into realistic task and give a time frame for the goal to be completed. If your new year resolution was to make more money this year, then you clicked on the best post for you.

In this post we’re going to break down your goal into making more money into realistic task but first lets be clear about the time frame. We want to complete this goal before the next year, so lets make this a 10 month goal.

TASK NUMBER 1

What are you passionate about and why? When you figure out what you are passionate about you will be willing to work more hours during the day. When you figure out why you are passionate about something it prevents you from getting burnt out or tired, and if you do get tired then its not a big enough “why.”

You don’t have to think too hard to realize what your passionate about because chances are you want to change peoples lives. So all you have to do is figure out what part of peoples lives you want to change. For example, I want to change the way people operate their personal finances so they can have financial freedom. The reason why I want to do this is because 80% of America is in debt and 55% of that debt is in credit cards.

So now that you know you want to impact peoples lives, and what part of their lives you want to impact, figure out how your going to impact them. Is it going to be through books, seminars, music, or a podcast.

TASK NUMBER 2

Supercharge your learning, when you find out what service your going to do, you need to learn more about the service (do not sell yourself short when it comes to the price of your service and do not overprice it.) You need to have a strategic method of learning too, so when you find the service you want to provide ask questions like how? Where? Why? and Who? Then learn the answers to each question. Start with the basics learn how to find the right people to partner with to eventually form a business, you need marketing, accounting, and specialist in the field.

TASK NUMBER 3

What ever money you have now, chances are your going to need more. So find things to flip, sell, or invest in that will give you enough cushion to start your business. I didn’t say it will be easy, but it is doable. Simple ideas to flip would be cars, shoes, or furniture.

I hope you enjoyed reading this post and I also hope it inspired you.

Thank you for reading

The Way I Save

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Money Storage

Last post was about how to simply manage your money, this post is going to touch on where you should store your money. If you haven’t found out yet, saving your money at a bank only gives you a return of 0.01%.

That means you get ten pennies for every $1,000.00 you save. That’s ridiculous, but don’t worry there’s better ways that are just as safe and give you higher returns. In this post I’m going to share a few that I was able to try.

HIGH YIELD ACCOUNTS

If your not into risky investing you can still get a good return on your money, while keeping your money at the bank. For instance, synchrony offers you 0.55% for storing your money with them.

I believe the best high yield account out right now since the pandemic is Brinks. Brinks is offering 5% for storing your money with them.

BROKERAGE ACCOUNTS

You don’t have to buy stocks to make money, some brokerage accounts give you interest for storing your money with them.

If you have under $10,000 TD Ameritrade will give 1.25% for storing your money with them in a brokerage account, this interest rate might vary.

BITCOIN SAVINGS ACCOUNT

The last way I recommended storing money, is with Bitcoin savings account. For this account you have to own a type of crypto currency that the account accepts, and have an up to date digit wallet for storing the coin.

Nexo has one of the bitcoin savings account available for you, and they offer you anywhere from 8% to 12% for storing your bitcoin with them.

I hope you found this post useful, thank you for reading

The Way I Save

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Why Diversify

There are plenty of reasons why you should diversify your investments, but in this post your going to be reading about the advantages of diversification.

Diversification is the practice of spreading your investments around.

ONE ADVANTAGE

The first advantage of diversification is when you diversify your stocks or money you are able to take advantage of growth opportunities in different sectors of the market.

You don’t have to know which stock to pick you just have to know which industry is going where. Once you figure that out, you can simply purchase a Mutual Fund, ETF, or Index Fund that is already diverse in that particular industry.

SECOND ADVANTAGE

The second advantage of diversification is that when you diversify your stocks or money it keeps you stable during tough times. With this pandemic, businesses are going under and investors that aren’t diversified are losing money.

Since I knew businesses are being affected during this pandemic, I invested in gold when the shutdown occurred which saved my investments.

When one sector goes down there is always another sector that is going to be prospering, you just have to diversify.

THIRD ADVANTAGE

The third advantage of diversification is knowledge. When one sector or industry is going down that’s your trigger into buying either one good business or one outstanding ETF in that struggling sector.

Now each time you log on your brokerage account, if your diversified enough, you should see where the market is headed. You can see which sector has gain momentum and where to put more money.

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What’s an IPO?

IPOs are always being listed on the exchange and you can make a considerable amount of money from buying and selling IPOs at the right time, but what are they specifically. Well in this post I am going to break down this acronym, and tell you whether or not you should invest in an IPO.

I – INITIAL

Well let’s begin with the first letter of IPO, which stands for initial. When a private company is planning to grow rather quickly, they look for funding in various places. Take “Publix” for an example, they offer their own employees an opportunity to buy a share of a company. With that money reinvested in Publix the company is able to acquire more assets to grow in profitability.

P – PUBLIC

The “P” in IPO stands for public. After massive expansion, a company like Publix is able to go public with their stock. This means a non-employee of Publix can become a shareholder in the company now.

O – OFFERING

I stands for Initial, P was for Public, and O is for Offering. As an Initial Public Offering, a private company is able to become a public company. The benefits of this transitions helps the company go from a couple hundred thousand in funding, to millions or even billions in funding.

BUT…

When a company is newly listed the information of its business dealings are very slim to none. Which means many investors do not know much about the company’s Assets, Liability, and the companies performance record (profits).

Even with knowing very little about a newly listed company, investors still gamble and invest in IPO’s. Which result in these investors loosing everything.

So taken it from Benjamin Graham when he states that the more you know the better with stocks; this is my translation of what Ben teaches in his book “The Intelligent Investor.”

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HOW TO PICK A STOCK

If your like me a few years ago, you probably want to invest into the stock market but you don’t even know what to buy. Well, you clicked on the right post, in this post your going to learn how to pick the best stocks and be able to determine what a good stock looks like.

Okay for starters, there are plenty of ways to make money in the stock market, But the best way is by holding on to a stock for five or fifteen years. There are two reasons why this is the best method.

  1. You can build capital
  2. You can receive dividends

CAPITAL

Now to build capital you have to do some research before you pick a stock. You cant just pick a stock based on what you think, or what some else thinks (that is a good way to lose your shirt.)

There is a cool site that helps you gather information about a stock and its called “SEC.GOV.” This website was created by the “U.S Securities and Exchange Commission” to help the individual investor make informed decisions on a stock before investing. Every stock that is listed on the market has to give updated information on the companies balance sheet, income statement, and cashflow statement, plus any executive decision.

I personally use sec.gov every quarter, to get updated information on how my stocks are doing. I suggest you to do the same, because this is a good way to learn more about the company and where its headed financially. You deserve to know if the company is making money or losing money.

DIVIDENDS

Part of deciding whether a stock is good, is by seeing if the stock gives quarterly dividends and has been doing so for more than fives years. This is another piece of information that is provided at sec.gov.

At the bottom of the picture above it shows the dividends per share for this particular stock. It also shows you how much dividends was handed out by the company in 2019 after three months and 2018 after three months.

Dividends gets passed out each fiscal quarter, which is every three months. At the bottom left you can see the dividends given after nine months for 2019 and 2018. I showed you this picture just to give you an idea of what your looking for in a stock, when it comes to dividends.

Just to give you a heads up, the reason why you want to pick a stock that shows more than 5 years of dividend payments, is because the company decides whether or not to give its shareholders dividends.

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WHATS A BOND

Most people will not buy a bond, but after learning what a bond is and what it can do for you, your going to want to purchase some as soon as possible. As a investor you always want to diversify your investments, any 401k manager or financial advisor will tell you that. That is part of the reason why ten percent of your 401k generally includes bonds.

GENERALLY

In general, a bond is issued when a entity (company or government) needs funding for advancement or backed expenses. Just like a certificate of deposit, with a bond you can only redeem your investment at a specific time. Bonds can be redeemable anywhere from 1-30 years. These type of investments are normally considered low risk in comparison to stocks. Typically the interest you gain from bonds are enough to protect you from inflation.

TYPES OF BONDS

Treasury Bonds – Are issued by the government.

Corporate Bonds – Are issued by corporations for profit.

Agency Bonds – Are issued by federal agencies.

Municipal Bonds – Are issued by cities, states, and countries.

The best bond to invest in, is debatable, but what I prefer is municipal bonds. The reason why I prefer municipal bond is because municipal bonds, are generally exempt from state income tax in the state where the bond is issued. Also municipal bonds are generally moderate risk but can be high, which means this type of bond will give you a pretty good return.

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Be The Bank

www.trading-the-forex.netBanks happened to be one of the most profitable businesses, and not just because of the credit cards they offer. The way Banks our making their money is from interest. They get interest not just from common folks opening up credit cards, but other businesses as well. The way they make money from other businesses is through “Chip Readers.” Chip Readers can take up to 35% per transaction, other Chip Readers take a monthly fee. What I’m going to show you is how to be like the banks and rack up on interest. Ways you can rack up on interest is:10.jpg

  • Loaning out money through sites like Lending Club.
  • Loaning out money for real estate through sites like “Fundrise.”
  • Investing some money into other currencies through companies like Forex

Loaning money out can be very difficult at times, but through sites like Lending Club you are able to get back anywhere from 7% to 14% in interest on the money you invest into a individual. To make sure you are confident about the people you are loaning money to they provide you the credit score’s of the individuals who you think are a good candidate. This type of investing is called peer to peer lending, Lending Club is just an example there are other peer to peer lending companies available. With peer to peer lending there the minimum you can loan is $1000, the companies also take a fee of 2% or 3% of the interest made from investing.

The second way that I presented on how to gain interest is through “Fundrise” and Fundrise consist of a pool of investors investing into a property and receive an interest of approximately 5-12 percent considering how much risk you want to take. I am personally invested into this program and so far made more money from this account than my high yield savings account, but there is a fee which isn’t much so far they took only $0.44 out of my account. Then again I only have 1000 invested, but doing a little more research on Fundrise “The eDirect offerings — eREITs and eFunds — pay a 0.85% annual asset management fee. In addition, clients of the investment services and management system pay a 0.15% annual investment advisory fee, although this may be waived in certain circumstances.

Foreign Exchange

The foreign exchange market is arguably the largest market across the globe 

Written by: http://www.trading-the-forex.net

one of the greatest ways to invest and it’s because when are economy is plummeting another economy will be thriving. It is similar to when your researching a stock, you have to read about different economies to see when or if their currency will change for the better or worse. When I was dealing with Forex, I was able to get 10 percent back from my investment. There are always tricks and tip to use for Foreign Exchange such as tracking financial news daily, staying away from Forex bots, and using margin wisely. I can’t explain this massive investment all in this post so I’m making a separate post to let you in all the details, but until next time, Let me know if this post was helpful to you

!!THANK YOU!!

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