Discover a new way to grow your wealth your parent’s or school never taught you.
Imagine getting your Bachelor’s Degree and then telling your parents that your ‘full time’ profession is blogging. Imagine their response!
Today we are talking about something we haven’t talked about in a while….Passive Income. Because we all want to make money while we are chilling out watching TV. We all know that making passive income is not that easy. It takes time. I came across an article in @Forbes that says you can make $940/month with 3 simple steps. https://www.forbes.com/sites/michaelfoster/2020/10/20/how-to-invest-100000-for-940-per-month-in-passive-income/?sh=36f0c85d5cec I’m going to talk about these three steps and share why I think it may not be that simple. 00:00 Intro 03:05 1️⃣ Open a brokerage account 04:10 2️⃣ Buying a closed end fund 04:56 3️⃣ Sit back and wait 06:39 My beef with closed end funds 11:27 How closed end funds are sold Closed end funds can be a little risky and a little difficult to understand. Be sure to take advantage of the offer that @Webull has right now! https://wealthhackerlabs.com/webull Check out @Let's Talk Money! with Joseph Hogue, CFA on his thoughts on closed end funds: https://youtu.be/_UIrO3ZxLqE #passiveincome #freestocks
Could you imagine having $44,000 in debt? How much would that stress you out? Imagine starting a side hustle with your laptop, end up making $2-$3k month and pay off all your debt, COMPLETELY! If you are new to the channel, you probably don’t know how much I love blogging. I Love Blogging! ❤️❤️ Today we are going to talk to Robert Farrington, @The College Investor Robert is going to share his 11-year journey from starting a side hustle to taking his business full time. 00:00 Intro 03:18 ➡️ What made you want to start The College Investor? 04:34 ➡️ In the beginning, did you tell a lot of people about the blog that you started? 05:16 ➡️ What did you do after you graduated from Grad School? 06:43 ➡️ How long did it take before you started making money? 09:29 ➡️ What kept you from giving up? 11:46 ➡️ How long did it take for you to make substantial income What triggered growth for the side hustle? 17:45 ➡️ What got you to the point where you were ready to leave your day job? 20:41 ➡️ What did your friends/family think when you started working full time online? 23:36 ➡️ Were they any big shifts in your business when you started working it full time? 25:43 ➡️ For anyone that is thinking about starting a blog, what advice would you give them?
This is the first time I have been in an airport in a long time. I can’t share where I am going yet….but I will soon. ✈️
Intro 00:00 I was a financial planner for 16+ years and came across some super shady advisors. Many were more concerned about keeping you as a client so they could earn commissions and earn fees. I can remember early in my career I had a good friend that was a photographer. He was growing his business and investing into a Roth IRA (at my advice) at the same time. He reached a point in his business where he needed to invest his money into more equipment instead of his Roth IRA. I realized that investing in his business would make him a lot more money, so I was all for that idea. My point of this story is to give you a new perspective, if you really want to build wealth. Here are the 9 things that you need to know: 04:18 1. Save money on vehicles 06:33 2. Don’t buy ‘more’ house than you need 07:33 3. Stop buying so much stuff 09:13 4. Save a percentage of your income 11:25 5. Work as much as you can NOW 12:55 6. Invest in your education 13:46 7. Invest in yourself 15:49 8. Venture into entrepreneurship 18:34 9. Invest in Real Estate If you want to build wealth, you can do that by investing into a Roth IRA. But, if you want to truly grow your wealth, then you need to explore some of these other options. Are you working with a financial advisor? If you are, are you hearing some of these same things from them? Have you been told that any of this is ‘not a good idea’? Let me know in the comments.
You may not believe this, but when I first started my career (right out of college) my salary was $18,5000/year. I lived like I was still in college…..broke.
I received an offer of $10 Million Dollars for something I created for fun. Something on the side. Let me give you a little history. I had a crazy idea to not just start a blog, but to create the BEST financial planner blog in the world. I started writing. I wasn’t making any money on the site but I knew that I needed to spend some money on the blog to make it a little more professional. With my domain, hosting, some work on my website..I was in for $509. Then I kept writing and publishing until I started making money. Two years ago someone offered me $10 million to buy my website. Of course there were quite a few things that happened between my initial $509 investment and the offer two years ago. Here are some of the things I changed: 00:00 Intro 03:39 1. You have to flex your Bi’s (your bold intentions) 05:42 2. Build something that is bigger than you 08:30 3. Stop asking how and why and start asking what and who 10:58 4. Changed the way I thought about growing my business It took me less than a day to decide to decline that offer! After making those changes I realized that I have created something bigger than myself and it gives me a lot of joy.
Why are we talking about MBA’s? Well when we first started talking about homeschooling, online school, etc. Harvard announced that they will be offering their MBA program completely online. (That has since changed). What hasn’t changed is how much the program costs. There is a long list of fees: tuition, student health fee, student health insurance, course and program material, room and utilizes, living expenses, etc. Add all of these costs together and we are looking at $111,000 per year. It is going to take you TWO years. It will cost you A LOT of money. I have to ask…..is there something better? I think there is. (Disclaimer: I dropped out of the MBA Program) So what do I think is better than a Harvard MBA? Starting a blog. Yes, starting a blog. When you get started you are not going to be making tons of money. It takes some time to build your audience and start making really good money. (I was only making around $0.16/hour my first year). The great part about starting a blog is you can do it in your spare time (while you continue working). Even better, it doesn’t take a lot of money to get started. You can purchase your domain and set up a website (with hosting) for around $150. If this still sounds overwhelming, I have created a free email challenge that shows you step by step how to set up your first blog and make your first $100. You can check it out here: ➡️➡️➡️ http://Make1kChallenge.com Now I want to share with you some of the key principles of choosing a blog over an MBA (this is what I learned by starting my blog): 00:00 Intro 07:35 1. How to start a business 08:34 2. How to build a thriving network 11:06 3. How to be a better communicator 12:36 4. How to market yourself 13:40 5. Learned high income skills 14:55 6. How to scale a business Yes! Blogging is definitely my preference. But as I mentioned, you don’t make a lot of money in the beginning. If you stick with it and publish quality content you will get there. You need to get a domain, start a website, and get going.
Lesson learned: never underestimate someone who has built a 5 Million Subscriber YouTube empire. Here's Graham Stephan's interview with Pokimane: https://youtu.be/wvl05CQKkY0 My Reaction Video to Pokimane and Graham Stephan: https://youtu.be/TJvmrbfS5I8 #pokimane #grahamstephan
Can we just agree that 2020 needs to be over?
If you have kids, you get to learn about so many things that you didn’t know existed. Things like Fortnite, or rather Fortnite dances.
We all want to make the highest return possible with the lowest amount of risk. How do you do that in this crazy market? For me, following the barbell investing strategy is what works. Here are a few key principles you need to know about the barbell investing strategy: 00:00 Intro 06:10 ➡️ 1. Cash is always king 08:54 ➡️ 2. Having the right insurance 10:18 ➡️ 3. Low exposure to stocks and bonds 12:07 ➡️ 4. High Risk Investments 14:20 ➡️5. Bring It Home What do you think about this strategy? Is this something you could rally behind? Let me know in the comments! ❗ For more information on the barbell investment strategy, check out this article over on GoodFinancialCents.com: ❗
We are doing something a little different on the channel today. For those of you that are new to the channel….you may not know that I am something of a ‘sneaker head’. I wasn’t always this way. It actually didn’t happen until my 40’s. I will have to say that the sneaker that I appreciate the most is….The Jordan.
CNBC recently shared an investing quiz produced by Magnify Money that the average American only scored 40% right. How did you do? Here's the quiz: https://www.cnbc.com/2020/06/29/average-american-failed-investing-quiz-find-out-your-money-score.html Other Resources from GoodFinancialCents.com: Investing for Dummies: Basics to Investing https://www.goodfinancialcents.com/guide-to-basic-investing/ --- Micro-Investing – The Perfect Intro Investment Strategy for Millennials https://www.goodfinancialcents.com/micro-investing-and-saving-strategies
The secret is FINALLY revealed!!! In case you missed Part 1 of this series, you can check out my complete YouTube Studio setup here: https://youtu.be/gIPF1CEv680 In that video, I shared my Top Secret video editing tool that allowed me to hit YouTube trending for the 1st time EVER. And the BEST part???? I recorded and edited the video in 15 minutes!!
I wanted to give you a guys a little sneak peek at my new home office/YouTube studio that is currently under construction.
Graham Stephan has taken YouTube by storm gaining over 2 million subs in a crazy record time. Pokimane is wildly popular gamer who hasn't done too shabby herself with over 5 million subs.
If you know someone that is struggling please have them call this number:
If you are new to the channel, chances are you haven’t seen previous videos where I talk about this guy - Robert Kiyosaki.The reason I talk about this guy a lot is because he wrote Rich Dad Poor Dad and it was the book that shifted my mindset.
When you are a financial planner, do you know the most annoying question you get?“Hey Jeff, what’s the best stock I can buy to make me the most money?Even though I am no longer practicing as a financial planner, I still get this question today.That is why so many people want to become day traders.The concept seems pretty simple right? You pick a stock - buy low, sell high
Who wouldn’t want to double their money?
You know what leaves a bad taste in my mouth? Bad financial advice, the kind that comes from personal finance ‘experts’.
I’ve said it once and I’ll say it again: “I love talking about the Roth IRA.If you’ve watched any of my other videos where I mention this amazing investment tool, then changes are you are chomping at the bit to get your hands on some of this tax free money.I’m not the only one in love with the Roth IRA, Dave Ramsey is too!On the blog, GoodFinancialCents.com...
The Roth IRA is the greatest thing since sliced bread.I love the Roth IRA
Could you imagine becoming a multi-millionaire at the age of 15?How crazy would that be?
Today we are going to talk about Dividend paying stocks.
I am so excited today, my money transfer is finally in M1Finance.
There’s no doubt that I’m a huge Dave Ramsey fan. Total Money Makeover was one of the first personal finance books I read.But there is one situation where Dave Ramsey will probably think I’m nuts.
Welcome back to another addition of The Wealth Board™. Today we are talking about one of my mentors, Dave Ramsey.I’ve been a huge fan for quite sometime. His book The Total Money makeover was probably the first personal finance book that I read.There is so much practicality and simplicity in this book. We are going to go through The Baby Steps today and discuss why Dave Ramsey's Baby Steps work.
Today we are going to continue talking about Dividend Paying Stocks and the 2020 Grow Your Dough $100k Throwdown. I am going to reveal my next three picks.
We are still ‘picking some stocks’!
Welcome back to another addition of The Wealth Board™.I recently did a reaction video to the MrBeast $1,000,000 challenge.✅Spending $1,000,000 In 24 Hours
Today I am trying to invest $100,000 with an App called Robinhood.For those of you that are new, this all stems from a Grow Your Dough Challenge that I did last year. In that challenge I opened up multiple investment accounts (mostly online) and put $1,000 into each one. My goal was to show people how easy it is to invest and how you can make money investing.That challenge didn’t come to an end, I am going to continue to share updates on how that money is doing. But, I wanted to start investing some larger chunks of money.
I am sharing another reaction video today!I am a what you would call a high achiever. I do all the ‘rich habits’ - I wake up at 5am almost every morning.
Today I am going to do a reaction video for someone that I would not have known about if not for my kids.
Welcome back to another edition of The Wealth Board™ - today we are going to talk about the Great Recession of 2020.Chances are you have seen something about this in recent news articles or social media?There are over 80 million google search results for ‘Recession 2020’. I thought it was a good time to share some information to help you get prepare in the event this happens.#️⃣ 47 is the number of recessions that the US has had since it’s inception
Welcome back to another addition of The Wealth Board™. Today we are going to be talking about some of the worst money mistakes I’ve seen over the years.This was a hard one for me to add up - if you were to make each of these mistakes over your lifetime - it would cost you about $1.7Million
Ok so there was that one time where I lost $5,000 trying to make money on penny stocks.That doesn’t mean I am a terrible stock picker. I have made some decent picks and made some money in the process.Today I am going to share the Top 5 picks that have made me over $275,000.➡️1. Under Armour [1:43] - I wore a lot of Under Armour when I was deployed because it helped to keep me cool.➡️2. Facebook [3:39] - I have Facebook stock in four different accounts and it is the largest holding I have.➡️3. LuluLemon [5:35] - My wife loves these and I love the way she looks in them.➡️4. Lucent Technologies [6:52] - This was the first stock that I ever purchased.➡️5. Visa [8:45] - Just like all the others, I didn’t get in on the IPO. But I got it shortly afterwards.❓ Were you surprised with my Top 5? Which pick were you most impressed with?Be sure to watch til the end, I’m going to talk about the upcoming 2020 Grow Your Dough Throwdown.
Today I am doing another reaction video, this one with Graham Stephan.I have sat back and watched his channels explode. His first channel has 1.2 Mil subscribers and the second has over 200,000 subscribers.I wanted to do a reaction to his CNBC video, because, well everyone else has done one!Also, I used to live in LA and YouTube loves Graham so let’s work on that YouTube algorithm.
Obsessed….that’s probably the best way I can describe it.I have $2,000 worth of sneakers which equals FOUR pairs of shoes.
What in the world is going on?I know it has been a while, it is time for another Grow Your Dough Throwdown update!I also have a very exciting announcement at the end, so be sure to stick with me.I started this throwdown at the beginning of the year and opened up 7 or 8 accounts with $1,000 each.We are going to go through those and have a look at which accounts have made money and which ones have lost money.I like to use Personal Capital to sync my accounts so that I can look at most of them in one Dashboard.I will be looking my accounts for:TD AmeritradeE TradeM1 FinanceRobinhoodStockpileBettermentLendingClubFundriseStockXI took a poll on the community app on YouTube and had you guys vote on what you would like to see.Based on that poll, I am going to open an account and actually pick the stocks - I will be putting together a video for you on that soon.If there is any other content that you guys would like to see here on the channel, please drop it in the comments below and let me know.#growyourdough #investingchallenge
Growing up I lived mostly with my dad. Finances were not his strong point, so we never really took any family vacations.That is why family vacations are so special to me and to my wife.
Let me guess, you’ve tried to make money online. You’ve tried Amazon, a course, a YouTube channel, etc.What if I showed you the exact strategy I used to make $100 a day with Google Adsense?Well, that is what I am going to do!
Do you know how long I’ve been looking for a BMW - just to use it in this video?Weeks.It shouldn’t be that hard.Ok, so why?I had an ambitious goal of driving a BMW after college. I decided not to get one, cause it would have left me BROKE.But that’s not why.
Today I have a little something different. I just finished up a strategy session with multiple white boards.Gotta love those white boards.We are working on producing some content that can impact lives.
He was supposed to be my success story.But it didn’t work out. I guess it wasn’t meant to be.Since he wasn’t my success story it cost him $872,826 - so what did this kid do that cost him that much?
We have another edition of The Wealth Board™ .
Yes, I am a Certified Financial Planner, but I have made some stupid mistakes.Today I am going to share my best investment and my worst investments.
$500,000 is what I am paying for this big hole!I know it’s a lot of money. But I promise, this is going to serve a greater purpose.When we came to Nashville, the house we moved from had a pool and we loved it.We do have a community pool where we live now, and we have enjoyed that. But, it is just not the same as having a pool in your backyard.
Chances are if you could get one over on the IRS, you would take full advantage.I am all about paying the taxes that I owe, but I don’t want to pay more than I have to, if I can legally pay less - I will.
Welcome back to another Wealth Hack Wednesday!I have a special treat for you!I know I don’t have ALL the tips - there are other great experts out there that want to share.
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