Tag: kindle unlimited
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…
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…
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…
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…
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…
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…
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…
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…
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.…
The Options Wheel vs. Business Development Companies: The Most Hardcore of Income
The most essential part of your financial plan is cash flow; without it, your plan will fail. Cash flow allows us to make decisions based on the amount of money “moving” through our hands, not “sitting” in a bank. But how do we increase our cash flow? We can get a promotion at work or…
Selling Cash-Secured Puts vs. Preferred Shares: The Most Hardcore of Income
You’ll have to take risks to become wealthy, but how much risk is enough? The answer depends on many factors, the chief of which is your emotion toward money. I absolutely adore preferred shares; however, I must take a gamble to get the best deals. Selling cash-secured puts is relatively safe, but there is a…
Overcoming Your Limiting Beliefs #2: Options Trading
There is nothing quite as feared as options trading. Whenever people think of options traders, they think of stressed-out bankers on the brink of disaster. However, options trading is really quite logical. There are only two directions that the stock market can move: up and down. From there, you set up your desired options strategies…
Overcoming Your Limiting Beliefs #1: Dividend Investing
Fear can motivate you to do extraordinary things. For me, the fear of being broke motivated me to invest in the stock market. Many times, our fears come from limiting beliefs—thoughts that form through a series of experiences, concepts, and feelings. For example, if everyone around you is poor, you may form a limiting belief…
How to Save Money: My Journey from -$77,000 to +$340,000
Can people save money today? I understand that times are tough and there are not enough resources. However, times are always tough. In 2019, I earned $100,000+ a year, and my wife earned $35,000; we lived in Florida. For all intents and purposes, we should have been doing very well. However, we were in $77,000…
Selling Covered Calls vs. Trading Long Strangles 2: Combine Them For More Passive Income
Options trading isn’t for everyone, but that doesn’t mean most people should overlook this incredible opportunity to make passive income. Americans put far too much emphasis on their W-2 jobs while passing over other opportunities to make money. Many times, we exclude other opportunities because of fear of the unknown or the possibility of risk.…
My 2024 Passive Income Streams: How My Finances Look Today
Every year, I write my passive income resolutions. I put them out on New Year’s (2022, 2023, 2024) so that they can set the pace for my financial ambitions. This year, I want to supplement my resolutions with some hard data on how my finances look at mid-year. This update will serve as a guiding…
King of the Long Strangles: Inside My Favorite Options Trading Strategy
I never imagined becoming a part-time options trader; however, things changed after reading “Rich Dad Poor Dad.” When I turned 18, I became a government employee, signing up for the United States Marine Corps (Ooh Rah!). I did what the government asked of me inside the Corps, paying little attention to my finances. I had…
Dividends Forever! Inflation-Proof Your Retirement
No matter your retirement plans, dividends can help you get there. More importantly, dividends can help you stay there (retired). Recently, I have read many stories about retirees going back to work because their incomes cannot keep up with inflation and cost-of-living increases. This is sad. Most people have never learned how to invest for…
Preparing for a Recession #4: Making More Money
A recession is not the time to start adding income to your bottom line; you should start that process well before the balloon goes up. We must all prepare for the reality that we will lose our jobs during a recession. Similarly, we should learn how to generate income outside a W-2 job to control…
The Dividend Snowball Effect: How to Harness Compound Interest
Dividends, Dividends, Dividends. Why all the talk about dividends? Some people live and die by dividend investing, while others pay them no mind. Why such a stark contrast? The simple answer is that some people want to become rich, and others want to be wealthy. Rich people have a plethora of assets that are worth…
