Joshua King
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Once you turn 60, you can access your taxable 401K and Roth IRA. But what the heck are you going to do with this large sum of money? Most people have analysis paralysis and run to a financial advisor. However, you are not an idiot. You saved the money; therefore, you can learn how to grow the money. The absolutely worse thing you can do is take the money out and buy a boat or car. Anything short of that is moving in the right direction. We can use...
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Do you love to learn and try new things? Great, you can write product reviews covering products and services. Congratulations, you'll be like every other affiliate marketer on the internet. We must take it one step further. After you generate your reviews, you want to keep creating original content around the product or service. Eventually, your content will take on a life of its own. People will follow you for candid reviews plus zany content slices....
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We used to believe in discipline, hard work, and consistency. Those words have turned into independence, freedom, and individualism. However, the only way to create an extraordinary life is to build it from the ground up. This requires you to stay on a routine. Yes, routines are boring, as they are the opposite of spontaneous. But, through a regimented lifestyle, you can make small daily wins. These wins can compound into a beautiful life you cannot...
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The 30s are the toughest decade of our lives. It's like going through high school and college again. There is so much going on that saving and investing are difficult. However, we must persevere. Our 30s are a great time to invest in Series "I" Bonds because they can double as an emergency fund in a pinch. We should also set a goal to build a $300/month dividend portfolio to assist with the little things in life. We can survive and thrive in our...
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Should you date while living on a budget? Sure, as long as your dating money doesn't come directly from your paycheck. That's right; your dating budget should come from dividends (rents and royalties). Passive income is so powerful because it comes whether you work or not. Instead of trying to impress your date with expensive dates, make your budgeted date more memorable. If this doesn't pan out for you, then this person is not our person. If it's...
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The media will always place some form of manufactured stress upon the little people (us). We just need to understand it. Yes, there is real money at play. We are playing a high-stakes game with our bank deposits up for grabs. However, think of your money as a bar of soap-the more you handle it, the smaller it gets. The best advice is to stay invested, read intelligent articles and books, review historical lessons, and take action only when you have...
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I got married and started a family at age 25; I then got into massive debt. What I needed was income. Creating an income-investing portfolio in your 20s is paramount to surviving the family phase of your life. The goal is to leave our 20s with a $1,000 per month of dividend income. That requires quite a large amount of money ($150,000 at an 8% dividend yield). To level out our portfolio, we can add savings bonds, treasuries, index funds, and dividend...
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I became financially free in June 2019 when I found the words "passive income" online. At the time, I was still $77,000 in debt. However, reading these words made me understand that time is more important than money. To earn your time back, you must become financially independent. Over the next four years, my wife and I lived below our means, onboarded roommates, paid off debt, and invested faithfully. These steps will lead us to become financially...
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When do you want to retire? Do you want to work until age 66? Most people nowadays do not want to work this late into life. But how can you retire earlier? What is the strategy to get from point A to point R (retirement)? It starts and ends with your savings rate. The more money you get into your investments, the faster your cash can compound and grow. Increasing your savings rate is easy; however, acquiring the proper mindset is challenging for the...
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I love my Investing for Interest Series. I have spanned the globe with topics concerning building wealth via fixed income and interest. However, I haven't talked about Series "EE" bonds much. That stops today as I dive deeper into use cases for these savings bonds. Is there a scenario where Series "EE" bonds best my favorite Series "I" Bonds? I believe "EE" bonds are better long-term if you commit to the 20-year holding period. Unfortunately, whether...
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We begin our careers with a love of paychecks, not a love of income. Rich people focus on building income streams without going to work. Our love of paychecks starts to subside as we get into debt. The joy of getting a paycheck and giving it to a bank is no longer thrilling. However, we can fight back. It starts by using our minds to think critically. How much money do we need every month? Once we have our minimal monthly number, we can find multiple...
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Life is good as an income investor. Not because you have tons of money coming via dividends, although that is nice. No, the real reason is that you have options. It gives you leverage when you have $1,000+ coming, regardless of your employment situation. Most people don't want to retire early truly; they want to find and execute meaningful work. Your income portfolio allows you to take your paycheck wherever you travel. Now you can work the job of...
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I once believed you could survive in the workforce long enough to build a truly passive retirement. Let's say this takes 25 years. However, the workplace has degraded into a circus we must avoid. Using a combination of active and passive income, we should aim to be free in 15 years. Lowering our housing costs is the number one way to free ourselves. Once we determine our required household income (say $6,000/month), we can work on replacing it. By...
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Would you buy a $25 gift card for $20? The magic would be when you redeem it for $25. What if you could receive dividends before you redeemed the gift card at a profit? That's the magic of preferred shares. The typical par value of a preferred share is $25. You can find them at great prices like $18, $19, and $20. Once you purchase them below par, you will start to receive dividends. Once the company decides to call the preferred share, it will pay...
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Do you live in a major metropolis? Are you attempting to live the American dream there? How's that working out for you? With a slight mindset shift, you can actually live the American dream. No, not in Los Angeles or New York City, but in Bixoli, Mississippi. By retiring to a small city, you can live entirely on passive income. This means that no one controls your time. You can also forego the additional luxuries required in a big city, such as ultra-nice...
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Do you like betting against yourself? Can someone handle your money better than you? My Wells Fargo brokerage account has $48,000 and pays me $4,200 annually-an 8.5% dividend yield. That same $48,000 would produce roughly $20,000 annually with an annuity, with no way for you to adjust manually. Even worse, the $48,000 stays with the insurance company upon your death. You are not leaving the money to my kids; you also fail to give them "the information."...
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I love investing for income, but my portfolios also need growth. To capture the stock market's growth, I turn to index funds. Index funds are simple yet effective ways to invest over a long time horizon. They make the perfect investments for small children and young adults. You can use them in Roth IRAs, HSAs, and more. However, you will still need an income plan outside of index funds. You never want to sell shares to generate income. Good Luck!
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90 to 95% of the workforce uses the "broke" money system. This cycle entails working, wanting, buying, and owning. The other 5-10% use the "investor" money cycle that entails budgeting, saving, investing, and spending. The key before between the two is cash flow. The "broke" use cash flow to buy liabilities, while "investors" use cash flow to purchase income-producing assets. And guess what? Income-producing assets (like dividends) produce more income...