Pensions are gone, and they are not returning. You cannot depend on Social Security. Your 401K will only provide you enough income if you invest over $2 million.
So, how the heck are you supposed to retire? There is only one way to retire early—through passive income. Becoming a capitalist is the only way to obtain the assets you require to generate passive income.
Why becoming a capitalist is a new requirement. Nobody will teach you how to create wealth by leveraging finances, taxes, and benefits. They simply will tell you to work a 9-5 job from age 18 to 70, then pray that Social Security is a thing.
Covered Calls vs. Cash-Secured Puts
Therefore, it is incumbent on you to build the life of your dreams outside of your 9-5 employment. It can be a daunting task to learn to depend on income outside of a W-2 paycheck.
Becoming a capitalist means following capital markets, which include commodities, options, stocks, bonds, cryptocurrencies, real estate, and business.
As a capitalist, I read the news for at least two hours a day to stay up-to-date on what’s happening in business and finance.
Every month, I receive income from my military pension, real estate holdings, options trading, dividend stocks, and my book publishing business.
Together, this income allows me to live the life of my dreams without working a 9-5 job. At age 43, I still have many more years to grow my portfolio and ensure my kids also lead a great life.
Building Generational Wealth Via Dividends
How I became a capitalist. I was broke when I was 38 years old and 20 years into my military career. My family had $77,000 of bad debt, and I had no clue how to dig us out of this hole.
I felt hopeless and, even worse, useless. I was making $100,000 while working in Florida, so we should have been well-off financially.
My wife and I flew to the country of Turkey to visit her family in 2019. While there, I began asking how I could afford to live in Turkey without working a job.
While searching, I found a phrase that would forever change my life: passive income. I started reading about various ways to earn passive income, including high-yield savings accounts, dividend stocks, and real estate.
That was the beginning of my career as a capitalist. I learned that I could no longer depend solely on my 9-5 job to provide what I needed. I needed to learn how to utilize the markets to generate passive income.
The Benefits of Investing in Series “I” Bonds
Reading my way to retirement. My newfound passion was passive income; I became obsessed with watching my dividends flow into my accounts.
But I needed more information—I had to feed the beast. I started reading lots of books, including books by Robert Kiyosaki and Dave Ramsey.
Since June 2019, I have read 156 books and am still going strong. Life isn’t about becoming a capitalist—but staying one. This means you must continue to keep up-to-date with new technologies and laws.
What does life as a capitalist look like? When you become a capitalist, your life will change forever. You will no longer see the world as black and white.
The Perks of Becoming a Capitalist
You can’t blame anyone for your station in life. You must take full responsibility for your circumstances and make a concerted effort to move past them. Nobody owes you anything.
Your real job begins after your 9-5. You must use the markets and creativity to free your family from the workforce.
Let’s say you earn $8,000/month from your 9-5 job; however, you require $8,000/month to pay all of your expenses.
The first thing a capitalist would do is lower expenses by cutting fat from the budget. Then, they would ask tough questions regarding food and entertainment allowances.
Following a budget purge, the next step would be to generate passive income. One way would be to rent rooms. The goal would be to fund a dividend portfolio that will eventually allow you to retire.
Dividends vs. Royalties part IV
By renting rooms, renting your car, writing a blog, and doing freelance or consulting work, you can feed your income investing portfolio to start earning 10% returns on your money.
If you study hard, you can learn how to trade options or become a day trader. Meanwhile, you can allocate a small percentage (1-3%) to speculative bets like cryptocurrencies.
The long-term outlook of being a capitalist. The number one reason to become a capitalist is to pass on these skills to your kids. Most of us began our work lives with a strong employee mindset.
The employee mindset believes that working hard under a corporation or government will ultimately set you free. However, there is nothing further from the truth.
If all you know is how to work hard for someone else, what will you then pass along to your kids? That’s right; they will work hard for the same corporation or government as you.
Wouldn’t it be nice if your kids owned a home by the time they turned 18? Then, they could start a business from home and control their time and efforts.
How to Control Your Spending 104
If your kids don’t own a home, they will be poor. Homeownership is the newest determining factor on who will become rich or stay poor.
I own three homes, so my two kids (17 and 13) are covered. Now, they can create their chosen lifestyle because they have the resources in their back pocket.
People with employee mindsets will be left behind. The pace of technology is moving faster than schools can print books. Capitalists understand that they must become lifelong learners to outpace inflation and technology.
The writing is on the wall; the robots are coming for our 9-5 jobs. With California’s new $20 per hour minimum wage, fast food owners will decrease human capital and increase robot servants.
Retirement Planning for the Average Person 6
If you do not follow the news, take action, and make decisions, you and your family will be left behind. However, capitalists will easily keep pace with inflation because their assets grow in value every day.
Conclusion. What we learned in school prepared us to be great employees. I should know; I stayed in the Marine Corps for 24 years.
I loved my time in the military, but ultimately, becoming a capitalist set me free. Every month, I earn more money from dividends.
Now, I can turn a pile of money into more money by trading options. I can purchase a new home whenever I want.
I know how to purchase a vehicle and rent it out to turn a profit. Even better, I can teach my kids how to start and grow a business.
Five Takeaways from “Smart Money Smart Kids”
My kids will become hard workers. Hard work is mandatory in all endeavors of life. However, when you work hard for your own company, you reap the benefits tenfold.
These important lessons come from taking the path to capitalism. Few people want to put in the effort it takes to learn an entirely new financial language, but your family requires this sacrifice in the end.
Do you want your kids to travel through the same growing pains you went through as an employee? It may make us tougher, but we change the narrative in our favor.
I am a full-blown capitalist. I love understanding money and leverage. More importantly, I love having control of my family’s financial situation and outlook. Good Luck!
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