Tag: Financial Independence
Retirement Plus: Supplement Your Retirement with Rental Income
There has been a lot of debate on whether you should purchase a home or not, and I’d like to put this topic to rest. Not only should you own one house, but you should also own many homes. In addition to owning multiple homes, you should rent out at least one room in your…
How to Become a Part-Time Options Trader #4: Trading Long Strangles
Do you want to become an options trader but have limited resources? In this case, I recommend trading long strangles for passive income. Trading long strangles differs from selling covered calls because you buy options contracts. It is much cheaper to purchase a call than to sell a covered call. Today, I want to walk…
Retirement Plus: Supplement Your Retirement with Royalties
I never knew that being creative could help you build wealth. I spent 24 years grinding in the United States Marine Corps, doing God’s work. I read all of Robert Kiyosaki’s books toward the end of my career, which began highlighting ways to create cash flow using creativity. It takes a while for a government…
Christmas Cash Flow! Become Your Own Santa
How much money do you have to spend for Christmas this year? I pray that you do not have to use credit cards to purchase gifts—like many Americans. Instead, I hope you have as much money to spend as you desire. It may sound outrageous or impossible, but you can achieve this financial feat by…
Covered Calls vs. Cash-Secured Puts 2: The Best Strategy for Intermediates
Options trading can be an exciting hobby, but the stakes are high. As we mature as options traders, we must refine and improve our skill sets. I wrote “Covered Calls vs. Cash-Secured Puts” roughly a year again, so it’s time to dig a little deeper. How do you pick stocks that give great returns? How…
How to Become a Part-Time Options Trader #3: Selling Covered Calls
Now that you have prepared yourself mentally (#1) and saved a nest egg (#2), it’s time to jump into the options market. First, you must decide which technique you want to try. An excellent place to start is selling covered calls for passive income. This strategy presents little risk, but does require a lot of…
Your Net Worth Should Increase 10% Annually: Or You Risk Falling Behind
How do the rich become richer? Their assets grow faster than inflation. We must all learn to harness the power of asset growth to ensure we pass along a great life to our children. A couple of days ago, I wrote an article about increasing my income by 10% annually. Today, I will concentrate on…
How to Become a Part-Time Options Trader #2: Building Your Nest Egg
Options trading is a capital-intensive operation, meaning you’ll need a ton of money to fund your trading. Money is perhaps the reason why most people don’t trade options. Today, I want to walk you through how to build an options trading brokerage account from scratch. During this article, I will use a nasty word that…
Your Income Should Increase 10% Annually: Or You Risk Quickly Falling Behind
When did our salaries become the deciding factor in our lifestyles? Why should our bosses dictate how we live our lives? Americans were an entrepreneur class of businesspeople, farmers, and traders. As we moved into the industry age, we began depending on our employers to “facilitate” our lifestyles. However, wages can’t keep up with cost-of-living…
5 Takeaways from “Inheritocracy”
“Inheritocracy” by Eliza Filby discusses the role inheritance plays in the lives of children and adults. Many believe we live in a meritocracy; however, accessing merit without The Bank of Mum and Dad is tough. As the cost of living has increased dramatically following the Great Recession in 2008, kids with access to The Bank…
How to Become a Part-Time Options Trader #1: Why Trade Options?
There is a lot of money to make in the world of options trading, but you could also lose a ton of money. Sometimes, it feels like a flip of a coin. I have traded options part-time for over two years and have learned much about this profession. That’s right; some people do this for…
Retrirement Plus: Supplement Your Retirement with Options Trading
Trading options during retirement doesn’t fit the typical narrative concerning your happy years. Trading options may sound stressful or anxiety-inducing. However, not having cash flow during retirement is much more stressful than trading options. Without cash flow, retirees are on the raft of life without paddles. Therefore, as retirees, we must determine how options trading…
What is Your Entertainment Budget? Use the Extra Money to Start Options Trading
Everyone loves to spend money on their favorite entertainment vices. Some of us love to go to concerts, while others love to watch pay-per-view boxing matches. No matter your particular entertainment vice, it must fall into an entertainment budget. Sadly, budgeting is not everyone’s cup of tea. Today, I will make the case for why…
Retirement Plus: Supplement Your Retirement with a Treasury Bond Ladder
How secure is your retirement? Do you feel confident that you have the financial sophistication to survive and thrive into old age? We can all take steps to ensure a healthy, wealthy retirement. One of these steps is to use US Treasuries to protect our principal and create great passive income. But what makes US…
What is Your Food Budget? Use the Extra Money to Start Investing in Dividends
The food budget is the most challenging of all the allowances in your monthly household budget. That’s because food is an emotional element of our existence. However, starting the month without a food budget is akin to walking under the rain without an umbrella: it can be exciting but could make you sick. Today, I…
Retirement Plus: Supplement Your Retirement with Dividends
Nobody teaches us how to retire. Few people can think about life in their 60s while dealing with life in their 20s. Therefore, to facilitate a healthy, wealthy retirement, we must prepare for it. The best retirement system for the working class was the pension system. However, gone are the days of corporations and governments…
Using Leverage with Options Trading: Wise, Prize, or Snake Eyes?
You don’t need to use leverage (also known as margin) to trade options, but what would be the point of trading options? Leverage is a double-edged sword: mighty in good times, disastrous in bad times. So, how do you decide when to use leverage and how much to use? The key to using leverage is…
Don’t Gamble with Retirement 13: Serious Lives Lead to Extraordinary Retirements
Why is being serious considered a bad thing? I was always a serious person, and it has served me well. I joined the Marines 10 days after high school in 1999. In the Marines, I never got passed over for promotion because I always took my job seriously. I retired at 42 and never have…
My Three Favorite High-Yield Savings Accounts: Get Paid While You Save
Most Americans realize the importance of saving money—whether they choose to save is a different story. Saving is a mechanism we put into place to protect ourselves from emergencies while also preventing us from using our investment accounts. I always tried to save early in my adult life—to no avail. However, in 2019, I started…
Trading Long Strangles vs. Mortgage REITs: The Most Hardcore of Income
The goal of life is to make money while you sleep; there is simply no other way to get ahead of life expenses. But how do you make passive income? Some people turn to the stock market to earn dividends while they sleep; others use the options market to create large amounts of passive income.…
