Dec 16, 2017
Today’s five to nine work week
This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction. Good luck!
We live in a hard time. While we live in one of the safest times in history, it is not necessarily safe financially. For example, buying a house has become harder, and a lot of us are compromising our life styles in order to get by. A short while ago, historically speaking, an individual in their 20’s or 30’s were able to responsibly buy a house without going broke. Today Millennials are broke, underemployed, and living in their parents’ basements.
In these hard times we need to find creative ways for making money, our traditional nine to five jobs are not enough, so we need to be creative.
Creative? Yes, if stocks were the creative way people made money for the past 80 years, then today it’s crypto currency, affiliate marketing, and making use of our extra time and talent.
Just as with stocks, diversification is vital. We need to allocate our capital and time in a way that will reduce our exposure to a single point of risk, meaning we should never bet with all of our money on a single channel or asset.
For example, let’s say we decide to invest $100 in crypto currency. Most of us are familiar only with Bitcoin, but there are number of more digital currencies we can invest in. So instead investing $100 in bitcoin let’s split it to:
- $30 Bitcoin (btc)
- $30 Ethereum (eth)
- $30 LiteCoin (ltc)
- $10 Ripple (xrp)
Where do I start?
Crypto Currency (Digital Currency — the future)
First, create a Coinbase account. This is by far the easiest way to start with crypto currency. There are other platforms out there, but the Coinbase platform makes it easy to buy and sell Bitcoins, Ethereum and Litecoins.
Here’s a link to get started http://bit.ly/2AXnyB9
Once, you clicked the link just signup:
Link your bank account and you are ready! Remember never invest money that you’re are not comfortable loosing.
Also, a good tip is to withdraw some of your money after you’ve made a profit. You can reinvest that money in other channels. The more diverse your investments the “safer” you are.
Once you’ve gotten familiar with crypto currency you can checkout more advanced tool for trading crypto currency but for now I would recommend using US based site such as Coinbase.
This post was written on December 16, 2017 currently the price of Bitcoin, Ethereum and Litecoin are very high. But remember, it’s never too late and you probably don’t want to ask youself why you waited.
Stocks:
Today anyone can buy and sell stock, even for FREE! Yes free, with no hidden fees thanks to this amazing app http://bit.ly/2kApJ2h.
Robinhood lets you buy and sell stock for 0 commision and you can do it all from you mobile device.
It is simpler than ever to create a diverse stock portfolio that reflcts your interests and even your ethical values. So invest in solar, or natural gas, or rom technology companies such as Google, Amazon to all different fields.
Your Skills:
Your 9–5 job is not enough in today world so what can you do? Some will drive Uber in their free time but there are better option.
- Airbnb your extra room, I heard about a guy that lost his job in SF and needed to pay his bills lucky enough he had some family around so he was able to stay with them on the weekend and AirBnB his apt’ which cover his rent and more.
- Uber/Lyft, if you already own a car and really need to make some extra cash do it, I’m not a big believer and I do think you can find some more creative ways to make money.
- Find your talent, we all have hobbies and interests that some people will pay for it. If you play the piano try giving lessons or even try to vblog (video blogging) about it. create at least 10 videos on how to play the piano and upload them to youtube.
- Youtube, Once you find your talent make sure to watch some other peoples video see what you liked about them and what you didn’t. this will give you some material and ideas to work with (don’t copy their video it’s not nice) and start making your own videos. And yeah some people are making a good living out of it.
What’s most important in all of it is to be happy and to make sure you’re follow your passion! it’s not uncommon to start a side business and find out that it’s becoming your main business.
To summarize my post, we live in a stressful time and it’s important to secure our future just make sure you’re diversify your investments between stocks, crypto currency and start your side gig. There’s is content everywhere make sure to use it wisely.
Links:
Again, this contents do not constitute advice and should not be relied upon in making or refraining from making, any decision.
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