What Are You Doing With Your Money and How Are You Investing It

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This is something I have mentioned before, but will always hold true. The daily decisions we make (or ignore) have a compounding impact on our financial lives.

I'm going to put a few financial items out there as food for thought.

Things to decide and take action on:

  • Retirement Investing
  • Passive Income
  • Speculative Investing

Are you doing any of the above things?

If not, then the question you need to ask yourself is - do I want to rely on a paycheck forever to support myself?

Essentially that's what life becomes if we don't have money coming in as passive income or in a nest egg for retirement.

I know, I know....no money to invest.

Want a $100,000 in a retirement account?

Do you drink coffee? Well, I just found $100,000 for you come retirement.

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Yeah, you aren't giving up your coffee. THAT IS NOT THE POINT. Find something else you spend money on that you really could do without. Coffee is just an example.

Let's dive into this some...

Passive Income

Passive income is money that comes in from an asset or investment that does not require much additional effort from you once established.

This can be anything, such as dividends produced by stock holdings or interest payments from debt holdings (bonds, loans, etc) and of course there is income from rental properties, one of my personal favorites.

Bottom line - if you do not have any passive income coming in then you are 100% reliant on a earned wage to produce income.

Speculative Investments

One should use a small percentage of their investment funds for this. It's to take shots on investments that could produce out sized gains to create additional wealth. 10% of a portfolio is the general recommendation.

This can be for something like crypto. High reward possibility, but also money you can lose without it wrecking you.

The point of this post is to give you a bit of a wake up call if you are not already doing any of this. Take small steps that allow for freedom!

Posted Using LeoFinance Beta

investing money alchemist palnet leofinance
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21 comments
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This is deep but a good message as well.
We can avoid certain things that can save us big money in a longer term.

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How DARE you suggest we give up our coffee??!!!!

You know, no matter how many times I see it, it is always amazing to see how small things can add up to huge things. I did a post on that not so long ago. (not a plug). I wish someone had told me about it when I was in college, but then again I suspect my stock broker dad did tell me but I ignored him.... ahem I wish someone I hadn't been in the habit of ignoring had told me. Oh well! Better late than never, eh?

Anyway, good advise!

!PIMP

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☕️ very good example of how small investments can turn out big over time. Same with smoking cigarettes or eating out a lot.

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I've thought of this many times,this is why I jumped into crypto in the first place. If one is living hand to mouth everytime, what happens if that source is cut off? Great tips.

!1UP

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I’m not doing with my money anything, they are doing with me everything :D I'm just a slave to yellow, shiny metal and green pieces of paper…

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Nicely said.

Earning passive income is one great way to boost a person's financial capacity and stability. At this stage in the world, one can't live a dream life by only receiving pay-checks.

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I just woke up, having coffee while reading this. I wonder what really wake me up - the coffee or the article? ^_^

Nicely said.
!PIZZA

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Take small steps that allow for freedom!

My coffee cost for 5 years is almost $18,000! damn haha

But I am not giving up on my coffee, I need to better find something else. Thanks for the encouragement.

Posted Using LeoFinance Beta

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