Make/Save/Invest

  By Miguel Dos Anjos         Be Specific Set financial goals. Be specific. If we walk down the street and ask anybody: “Would you like a million dollars?” Every single person will say “yes, I would like a million dollars”. But what determines who will get it, and who will not? The first step is to want it, the second step is work towards getting it. Developing a game plan will provide a clearer path to that goal. Once you know what you want, came up with a plan to get there, set up milestones. Today this part will get implemented, and this much capital will be put aside towards the goal. Develop milestones for next week, next month, next year, and so forth. If that goal, or dream is big enough. The planning, and milestones might require some persistence, longer than a year, or few years to achieve. What is the Reason You Want It?   Looking at that dream, or goal you may stop and think; this looks too big, too far, or too hard to accomplish. The best thing I ca

  By Miguel Dos Anjos                   In order to achieve financial freedom you need to know with precision where you stand now, and what your final goal is. Once your current situation, and your ultimate goal are stablished you will set up short term goals (today, a week, or a month), mid-term goals (half a year, or a year), and long term goals (3 to 5 years, and 10 to 20 years). To understand your current situation you need to know 4 numbers: 1-       Debt amount: the only way to know where you stand is by writing down all your debt, and adding it up. I understand this might seem depressing, or scary, but to deal away with debt requires understanding where it is coming from, and how much it is. Do not worry we will provide tools to help defuse the debt bomb later. 2-       Net worth: similarly add up your net worth. This list includes your 401k, other retirement accounts you have, investing accounts, rental units, and/or properties. Hopefully, and ideally your net worth

By Miguel Dos Anjos   Financial independence means having enough money to live without having to work. Achieving financial independence requires acquiring, and developing assets that will generate income (cash flow) big enough to cover all of one’s expenses.                 The cash flow generated by these assets is known as passive income, and some of these assets can be: - interest collected from high interest savings accounts, - dividends collected from stocks, - royalties from the sales of owned books, music, etc, - rental properties, and units, - a business you own, but does not require you to run, etc.                 For other passive income sources, and a specific guide on how to implement these ideas and strategies check my previous book “ Making Money While Sleeping: 10passive income ideas + a bonus ”. 5 Financial Independence Levels                   Financial independence can also be divided into 5 levels: 1-       not having to count on

By Miguel Dos Anjos                   Making money with online course is a field that’s growing more, and more every year. First you will need to come up with a course idea, then develop the course content, and finally promote, and sell your course.             Profitability                  The most profitable online courses make up to $75k a year, and even $1M a year. But making $500, or $1k a month is a meaningful income for most people. You will need to develop the course once, but you will get paid by every new student that buys your course.                 If you are a great teacher of a foreign language, or know gardening, or have stock market knowledge, or anything you are an expert at; you can teach that, and develop your course. In case you are not an expert in anything, or at least anything that there will be an audience willing to buy, another option is to learn as you go using research, and studying to develop your course. Pick a course topic that interest

By Miguel Dos Anjos                 With affiliate marketing you promote other people’s products, and add a link to your page directing the buyer to the seller. Once the buyer clicks your link you will earn a commission from all items purchased throw your initial link. The link will be active for a specific time, such as 24 hours or so. This way the person selling the product increase sells buy sharing the profit.  By Sharing Profit with Promoters the Seller Enjoys a Bigger Market  If you want to sale your product you will offer promoters a financial incentive using the affiliate program, and if you do not have a product, and want to make money you may sale somebody else’s product that you feel has value, and collect a profit as an affiliate marketer. Amazon Associates is the most popular affiliate program. You can join them, and start earning commissions by promoting any number of the wide variety of products available on their platform. The sign up process is fairly q

By Miguel Dos Anjos You probably already have a YouTube account. The next step is to upload videos, and develop an audience. Once you have 4,000 watch hours in the last 12 months, and 1,000 subscribers you qualify to apply for monetization. As long as your channel content is genuinely yours, not plagiarizing, or showing illegal content YouTube will take you as a partner. Now you can start running ads from YouTube, and mention products for specific companies, or sell your own products, and collect money from all these sources.  4K Watch Hours, & 1k Subscribers                  Reaching 4k watch hours, and 1k subscribers does take some time, but once you are enrolled you do not need to keep meeting this threshold every year. As long as you are not inactive for over 6 months YouTube will keep your channel open, but for most people the start is the hardest since no one knows you. From 0 to 100 subscribers is harder than from 100 to 1,000, because there is now a base to w

By Miguel Dos Anjos When Building your blog you can decide what you will make it about. You can choose an area that you are most passionate about. That way the time you spend on it will not feel like just another job. Also, how much time you put in is up to you, and when to put in the time is also entirely up to you. There are different ways you can make money in your webpage. One way is to run ads; -           CPC/PPC Ads: cost per click (also called pay per click) ads are usually banners that you place in your content, or sidebar. You will get paid each time a reader clicks the ad. -           CPM Ads: CPM Ads pay a fixed amount of money based on how many people view the ad. Google AdSense is the most famous one but there are many other ads programs out there. You do not choose which ads will show on your webpage. Google AdSanse will ask you, and find out what your webpage content consists of, and will display the appropriate ads to maximize clicks. If the traf

By Miguel Dos Anjos It all starts with budgeting;  1-       and getting rid of all bad debt. Bad debt is the opposite of debt that generates income such as mortgage from your rental unit that provides you with monthly cash flow. 2-       Once debt free, save 3 to 6 months into your emergency fund. Emergency such as job loss, or sickness, not Macy’s discount week, or the new iPhone 30. This money can go into your high APY interest savings account, and you will start seeing your money grow.   3-       Debt free, emergency fund ready. Invest your money, maybe 401k retirement account, or a Roth IRA retirement account are great starts that provide great benefits. 4-       I do not know what investment you like the most, but invest your money. Stock market, real estate, business, or some other investment you like. You decide how much risk you are ok with. At my current situation in life, and 33 years old, I’m ok with a 20% return, and risk. These type of investments invol

By Miguel Dos Anjos Silent Partner in a Business:                  You can make/turn a business into passive income by being a silent partner. There are risks involved, as in any other business. Here you need to make sure your vision, and beliefs are aligned with your partner’s. You would then be coming in with capital, but leaving running the business fully, or for the most part for your partner. You both collect profits, and are also, both responsible for the business. Bonds: Invest in a Business Using Bonds Bonds are loans, that an investor provides the borrower, usually big corporations, or the government, and collect their money back with interest. When companies or the government need to raise money for projects they will issue bonds. USA federal government bonds are considered the safest bonds since in case of a recession by the time the federal government fails, all the other companies and institutions in the country will by then be gone. Also, if needed the go

By Miguel Dos Anjos       Create and Invest in Assets  Life is short and we need to make the best out of it. People have told me in the past I was greedy, or too much money focused. Well, aren’t we all money focused?! Most people don’t realize, but we study our entire early lives so we can get a 8 to 5 job, so we can pay for our car, our house, and the nice things we want. While school has been teaching us so many things, so one day we can get a degree, school entirely skips the concept of financial intelligence.   While we can have the best job out there, with the highest paying, without financial intelligence we still can’t get far ahead. In order to be truly successful on the long run we need to live below our means. Most people after getting a nice paying job will go out and buy a car, when they get a pay raise, they will buy a bigger house, and in every corner in life whenever the money income increases they will find a way to allocate that money into a liability. Yes,