Which Education do you choose?
All through our lives we are told to go to school, get a good education. While I do believe that everyone should get a good education. I am skeptical that school is the best place to get it. Now sure, basic education like math and reading is taught in school and is definitely needed. But the older you get you start to realize that the later years in high school did not really teach you much. Especially things you needed to use in the real world. College education is decent because it can teach you specialties like being a doctor or an ecologist. Some of that converts to the real world if you follow in that field, but at an extremely high cost here in the United States.
The key to financial freedom is debt?
By the time you are done and get a degree you are in debt for 20 years of your life. Even though you get your doctorate and are making good money that doesn’t necessarily lead to financial freedom. In this blog I want to try and help you make the correct decisions when it comes to choosing your education. Keep in mind that I am not telling you to drop out of school and to not go to college. After all every investment has an upfront cost. I am only saying to choose your education wisely. Choose an education that you can use in the real world. One that teaches you how to grow your money so you can finally achieve financial freedom.
Choose the right path for you!
Choosing the right path can look like this photo up above. There are thousands of different ways to go but only one is the right path for you. I think it is safe to say that everyone reading this wants to retire. In some form or another they do not want to be tied to a job or career. I was joking around with my mother one day and I said “I wish I could just go to work and punch in and then go home. Then go punch out at the end of the day.” Thinking back on that statement, even that wouldn’t be good enough for long. I would start thinking “Why do I even need to drive to work the punch in? With technology we should just be able to punch in from home.”
Make the right choices!
Am I just being lazy? I mean I work a full time job. Run this website which takes up 30 hrs a week and I manage my real estate property. I also have two children and a wife. I do not believe I am lazy, I just chose the wrong education and career choice. Now that I am starting this website I should be able to have more time on my hands once it gets up and going. At 35 years old I am finally starting to make the right choices. Time with my family matters so I need to work less and enjoy my time with them. I shouldn’t have to be tied to a desk for 70 hrs a week. So what do you do?
The rich do it, why can’t you? Because of your education choices. In high school and college they do not teach you about real estate. They do not teach you about stocks and interest rates. Compound interest. If they did I do not remember it or they barely touched on the subject. The internet has opened up an entirely new market. Not only that but you have it at your fingertips. If you wanted to be a millionaire before the internet you had to work extremely hard or get lucky and invent something.
If you ever want to become a millionaire, invent something that will make people lazier.
There are many different forms of passive income and investing that the everyday person can do. Let’s go over a few of them that are featured on this website.
Affiliate Marketing: Upfront cost 0$ – 2,000$
Affiliate marketing can be started which no upfront cost. If you have a blog or a lot friends/followers on social media you can make money with affiliate marketing. Sign up for free at various affiliate networks and start linking to your friends. Post a couple of review blogs and review 10 items. Each item post an affiliate link for at the bottom. If the reader clicks on your link and makes a purchase then you receive a commission. Review posts are amazing because the reader is already looking to purchase the item they are reviewing. They just need a little push to make the buy. I say up to $2,000 in start-up costs because some people create a website or buy ads for their affiliate links.
Stocks: Upfront cost $50 – Unlimited.
A lot of people think they do not have the education or know how to invest in stocks. While some people lose money making risky trades, others thrive with the safe bets. I look at the stock market as more of a savings account. Now of course there is risk as is with any investment, but there are some pretty safe stocks. Just watch the market and make sure it is not going to crash and if you get a bad feeling, sell and take your money out.
Here’s a couple of examples from one year ago to today: Investing $10,000 you have sitting in the bank
AMZN Amazon $1,477.39 you purchase 6. Today its $1,621.00. 1 year you made $861.66
That’s a lot more than you would get an any interest rate in your bank account.
NFLX Netflix $263.00 you purchase 38. Today its $339.95. 1 year you made $2,924.10
If your money is sitting in a savings account it is wasting away. Do you think when you deposit money that your money just sits in the bank? Your bank is investing YOUR money for their gain. If you are not going to do it, they will and they will not give you a penny from it. Before you could gain interest on the money you had in the bank(because the banks are using your money) but now there are only a select few who do offer interest.
Real Estate: Upfront cost $2,000 – $10,000
Most people think they cannot afford to get an apartment building or invest in real estate and they couldn’t be more wrong. I bought my apartment building for $1,500. You need to get educated on how to purchase them and what incentives the government is giving out at the time.
My building: Cost $280,000. As a first time buyer I only needed 3% down which is $8,400. I HAVE to show this much money in my account. We worked out at deal that the SELLER will pay the closing costs so I do not need any money down. The $1,500 was for fees and other costs. Now I can live rent free because the other two tenants pay the building’s mortgage and I make $1,000 a month in profit.
E-commerce: Upfront cost $500 – $10,000
E-commerce I cannot speak to much on as I have not tried it. I know quite a few people who have done really well and others who have lost money. If you keep up with trends then I would highly suggest it. One of my friends made a lot of money off the fidget spinner craze. You need an account at online E-commerce network which can cost between $30-$50 a month. You will need a logo and some other software to help you run the site. Total upfront cost could be as low as $500. Higher end software and traffic allowed to your site costs more.
All of this can be done with little upfront cost and EDUCATION. You need to know how!
Which photo looks better to you? Choose the right education, then choose your destination!
Check out our other articles on how to get started on created passive income streams!