It’s hard to express how fragile our lives become without knowledge. When we depend on a job, a person, or a government to save us, they usually come up short.
Americans have become more educated over the years—meaning more people have college degrees than ever.
However, most people need more financial education to grow a nest egg, put their kids through college, and buy multiple homes—all while saving for retirement. It’s a lot to take in for the average person, college degree or not.
How We Plan to Retire on Dividends 4
Bridging the education gap. So how do we bridge the gap between formal education and financial education? What does the average person need to know to thrive in today’s society?
The most important part of life is knowing you don’t have to be the best at any one thing. People avoid market investing because they don’t want to make a mistake. Others fear owning two homes because their tenants may not pay rent.
When you lack education, you tend to fear the unknown. You do not have the context to put decisions into their rightful place.
For example, if I buy $1,000 in a closed-end fund, I always think, “What’s the worst that can happen? I can lose $1,000.” I also know that most people will spend $1,000 on something frivolous that won’t exist in one year.
Self-Storage vs. A Recession
Once people understand the long-term strategy of building wealth, putting everything together is more manageable. It’s a combination of everything that makes us successful in life, not one major event.
The T.I.C.E.S. Society. I am creating the T.I.C.E.S. Society to formalize education for the average person. I want everyone to understand that making little choices in each of these areas of interest will dramatically improve their lives.
Life is about being a Renaissance person, not watching Netflix all day. There is still time to binge our favorite show; however, the priority is creating passive income first and always.
What is The T.I.C.E.S. Society? I don’t know; I just made it up. However, the plan is to create a place where people can gather the requisite information to improve their lives.
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The problem with niches. For content creators and websites, the search algorithms favor niching down. This means that they focus on one specific area.
That’s why Seeking Alpha only focuses on investing and BiggerPockets on real estate. For consumers, it’s tough to get a whole-life view of investing and money management.
If you go to BiggerPockets, they will tell you to become a real estate investor. If you go to Seeking Alpha, you will buy growth stocks.
Trade School vs. College vs. The Military
The best way to thrive in this world is to understand a little of everything. Over time, you’ll gain knowledge and experience in each area, making you a dangerous wildcard.
As an average person living in an average household, it’s tough to get all the information in one place.
The T.I.C.E.S. Society aims to be your first stop, from which you can dig deeper into the various areas of focus: Tycoon, Investor, Creator, Entrepreneur, and Scholar. Let’s look at each of these quickly.
Are You Ready to Become a Landlord?
Tycoon: A tycoon understands real estate. The most important part of real estate investing is aggressively lowering personal housing costs.
There are many ways to invest in real estate without purchasing a rental property. Owning real estate is necessary to grow your net worth and ability to leverage.
Investor: Inside the T.I.C.E.S. Society, we primarily invest for income. This means we purchase dividend-growth stocks and have an income-investing portfolio.
We can also invest a small amount into speculative growth stocks or cryptocurrencies, but our main focus is generating income from our investments.
Home Equity Loans vs. Interest Rates
Creator: Perhaps the most critical aspect of the T.I.C.E.S. Society is creating content. Becoming a content creator, even a small one, is vital to our success.
Creating content is valuable because it doesn’t cost much money. We can print money from our brains while advertising our business endeavors.
Entrepreneur: We love creating businesses because it gives us the inside track to wealth. The closer we are to the decision-makers, the richer we become.
Therefore, we can generate wealth more efficiently if we are the decision maker. Being an entrepreneur is about adding value, not up-charging customers. Once we add value, the money will flow.
Home Maintenance Budget vs. Emergency Fund
Scholar: We can only progress by constantly growing our brains. Being a scholar means we read at least two books a month.
We should also take courses, read magazines and websites, and challenge ourselves to create new things as content creators.
Putting it all together. So how does being a T.I.C.E.S. look on a typical day? It looks normal from the outside, but you will understand much more about what’s happening worldwide.
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You’ll understand why mortgage rates increased yesterday. Why did the banks fail today? You have passive income coming in from rents, royalties, and dividends.
You see a house for sale down the street, and you will look it up on Zillow. You’ll brainstorm to see if it fits into your future needs.
You’ll give this information to your children. You’ll understand they should start a content business at age 20, not 42, like us.
What is Your Dream Retirement?
Life will seem more complex because of renting rooms, investing in dividends, and creating royalties. However, your life will be much easier because you won’t have the stress of the unknown.
Conclusion. Joining the T.I.C.E.S. Society will empower you to make decisions on your terms. You don’t need to seek counsel from an outsider unless they know more than you.
My Recession Investing Plan
You do not have to show the world you are a T.I.C.E.S.; it’s something for you and your family to know. Your bank accounts will grow considerably.
Better still, your kids’ knowledge will grow much faster because they have the information at a young age. You will no longer worry about them constantly; they will have the means to thrive in this world.
That’s what being a T.I.C.E.S. is about—taking control of your financial destiny. You don’t need the government or a corporation to care for you. You have the ability to do it yourself. Good Luck, T.I.C.E.S.
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Disclosure: I am not a financial advisor or money manager, and any knowledge is given as guidance and not direct actionable investment advice. I am an Amazon Affiliate. Please research any investment vehicles that are being considered. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article. All Right Reserved Military Family Investing
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