What do you consider to be someone who’s “made it”? Does that phrase bring up images of young fit people in business suits smiling as they rush to the next meeting holding their cell phone to their ear and a Starbucks treat in the other hand? While this is often a popular stereotype seen on TV and the media, for those of us that actually make it there it can come with a lot of sacrifices that we might not even be sure (or even aware) that we’re willing to make. So ask yourself this: Why does being successful have to stem from only your job? Aren’t there other ways or other things you … [Read more...] about How Being Successful Might Include Leaning Out From Work
I’ve got some terrific news: My new niche website (NS2) is currently ranking on the first page of Google at #4 for my main target keyword! Believe it or not, this comes as a great accomplishment to me because it means that all the tricks and things I learned through the first niche site do in fact work! This is also very exciting news to me because if I consider how much my first niche site (NS1) makes in terms of a modest residual income every month from the advertising, I now just DOUBLED my income potential! Can you imagine how much money I could be making after experiencing success … [Read more...] about Niche Website Update 8 – NS2 on the First Page Search Results Already!
If you’ve noticed a slow down on the posting frequency here at My Money Design, first let me apologize. I don’t value my readers any less. No, instead something big has been happening behind the scenes. I gave myself a deadline of the end of June to launch my next niche website. And you know what? I did it! … [Read more...] about Niche Website Update 7 – Site Number 2 Launched!
A brief introduction for those who don't know me: My name is Matthew Allen and I blog over at Dumb Passive Income about all the things I've been doing to try to create online passive income. Creating sites and systems that will earn money passively has become an absolute obsession of mine. Admittedly, there is nothing passive about the amount of time I have spent and continue to spend to build up these sources of income. But, I am finally beginning to reap some of the rewards for all of my hard work. The coolest thing about building sites or systems to earn money passively is that once the … [Read more...] about Taking a “Pay Off Credit Card” Niche Site to the Next Level
What a great time of the year to receive the next installment of my “truly” passive income. By luck, it just so happens that my next series of payments from my dividend paying stocks was scheduled to be paid in December. Couldn’t we all use a little extra cash right before Christmas as the bills start rolling in? Over on the left are the results of my third batch of quarterly dividend payments received for Quarter 4 (Q4). … [Read more...] about My Stocks with High Dividends Income Report – December 2012
As many of you know, 2012 is the first year that I have really overhauled my stock investment strategy and changed my focus to simply collecting high-quality dividend paying stocks. Just like any dividend investor can tell you, dividend payment income is a pretty remarkable source of “truly” passive income. I prefix passive income with “truly” because the income they generate literally requires no effort on my part. I simply collect the payments each quarter! As of this month, I am happy to report the second installment of my quarterly dividend payments received. Please see the image on … [Read more...] about My Dividend Payment Income Report – September 2012
Lately there have been a number of great posts and strong opinions about having an emergency fund, and I wanted to weigh in with my own opinion and experiences. I have had a long a standing love-hate relationship with emergency funds. Sure, you need them for critical situations! But my problem (and I think this is where a lot of people struggle) is how to save up enough. Depending on which advice you subscribe to, the recommendations can be anything from 3 to 12 months of your gross monthly income. If you’re a typical American household making $60,000 per year, that’s anywhere from $15,000 to … [Read more...] about My Alternative Emergency Fund Strategy and How It Works
Without a doubt, Rich Dad Poor Dad has become one of the most controversial personal finance books of modern times. Some people have praised it as the revolutionary how-to guide for creating ultimate riches through passive income. Others despised what they read because Kiyosaki challenged the conventional system for how people make a living and live their lives. When was the last time you were told that going to college and becoming an employee for someone else for the next 30 years is a terrible plan? Or that the only reasons you became an employee in the first place was out of your own … [Read more...] about Book Review: Rich Dad Poor Dad by Robert Kiyosaki
In my previous post about why we care about money, we explored the reasons why saving money might be important beyond simply wanting more material possessions. In this post, I’d like to explore the more specific topic of why it is that we want to retire. … [Read more...] about Why Do You Want to Retire?
As part of my annual financial checkup, I have updated my “Money Design” for financial freedom. This is my plan to one day automate my income rather than rely solely on employment income. My plan can be summarized by the flow chart below: … [Read more...] about My “Money Design” – 2012 Update