As promised in my post earlier today, I have created a page entirely devoted to the topic of “passive income” that will contain ideas, advice, and everything else worth sharing. This can be found at the “Passive Income” section in the top menu bar under the sub-heading “Passive Income Ideas”. Please explore these suggestions and feel free to share your comments. This page will also be continually updated as I collect new ideas or have new experiences to share.
Tag Archive for passive income
My Money Design Update – New Section on Passive Income
Book Review: “Get Rich Click!” by Marc Ostrofsky
With a name like “Get Rich Click! The Ultimate Guide to Making Money on the Internet” by Marc Ostrofsky is a giant collection of tips and advice on just about everything you could do to start making money online. It covers dozens of topics including:
• E-Commerce
• Understanding Search Engines
• Online Advertising
• Improving you Search Engine Optimization (SEO)
• Using affiliate marketing
• Owning marketable domain names
• Creating valuable content
• Taking advantage of social networks
• Setting up payment processing
• Marketing for mobile phones
• Using Internet videos
• Partnering with non-profits
Category: Blogs & Internet Sales / Tags: affiliate, blog, Book, ClickBank, E-commerce, eBay, eProduct, Get Rich Click, Internet, Jeffrey Gitomer, Marc Ostrofsky, online, passive income, review, Search Engine Optimization, SEO
When Can I Get My Retirement Savings?
When you’re creating your “money design”, there are a lot of options for income streams available to you at retirement. Depending on how early you plan to retire, it will be very important to know what the minimum age is you can start withdrawing your funds. The rules may influence the number of options on the table as well as have important legal and penalty implications.
Using irs.gov and several other websites, the following chart is an overlay of all the popular traditional retirement plans and when they can become available.
Category: Retirement / Tags: 401K, 403b, 72(t), annuities, annuity, equally substantial distribution, IRS, passive income, penalty, pension, Roth IRA, savings, social security, Traditional IRA
Why Compound Interest Makes You Rich!
It’s one of the oldest clichés in investing: “Time” is an investor’s best friend.
Unfortunately, few people ever fully take advantage of this concept or grasp just how it works. So why is “time” an investor’s best friend? In two words:
• Compound interest.
There’s an urban legend that Albert Einstein once said that “compound interest is the most powerful force in the universe”. If he did, he was right. Consider two scenarios:
Which one would you rather have? How can it be that one is worth way more than the other?
This is the power of compound interest:
• Eventually you will make MORE money off the build-up of returns from your earnings than off the original money that you put in.
I will show you an example of why this is.
Category: Retirement / Tags: 401K, Albert Einstein, annual returns, Compound interest, IRA, passive income, retirement, time
Book Review: “The 4-Hour Workweek, Expanded and Updated” by Timothy Ferriss
- Click the image to visit Amazon.com
This is one of the most entertaining and unconventional financial life-style books I have ever read. Not only will it open your mind to a world opportunities that few people even know exist, but it will challenge the status-quo of how you live your life.
Category: Entrepreneurship, Passive Income / Tags: 4 Hour Work Week, E-commerce, early retirement, lifestyle design, passive income, Timothy Ferriss, travel, wealth, wealth management, websites
Book Review: “Your Money Ratios: 8 Simple Tools for Financial Security at Every Stage in Life” by Charles Farrell
- Click the image to visit Amazon.com
Most financial books tell you come up with a retirement goal and to save towards it. Period. But have you ever wondered if you were on the right track? At 30, how much should I have saved for retirement? What about 40, 50, etc? What about debt, savings, etc.? Where do I stack up against my peers?
Category: Investing & Retirement / Tags: 401K, Charles Farrell, finance, financial, insurance, investing, IRA, money, passive income, personal finance, retirement, rich, Roth, savings, Traditional, wealth, wealth management, Your Money Ratios
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