So today, I discovered a podcast by Pat Flynn and listened to it during work. His guest in the podcast was Kirk Du Plessis who is now making money off teaching people about his hobby online which is Stock Options investing. It was perfect since I have recently discovered and acquired some interest on this topic just last week. It’s actually pretty random since I was looking for Tai Lopez’s podcasts and just so happened to stumble upon it. Anyways, what was interesting was he started developing a past time in it and decided to blog and make a website on his stock portfolios, creating lessons as well as guides. Eventually he accumulated much interest providing all this information for free that he started to develop memberships and charging people monthly on the valuable information he was transmitting to his audience. Today, he is making six digit figures on an annual basis and it is simply an astounding story.
The host, Pat Flynn has quite an inspiring story himself. I was reading about his story and how he started to become an entrepreneur and it’s really motivating. What is unique about his website and blogs compared to other ones is that he actually discloses every detail of his business and every step to his success. He reveals all the revenues and expenses of his business every month. He lists the sites he makes money from, affiliate sites, Ebook sales, podcast revenues, etc. It’s just crazy! Just for the month of July, his monthly report revealed he made over $100k! That is truly insane.
Source: Smart Passive Income
This is the sort of income I want to make. Passive income, assets that generate money. Money that works for me instead of me working for money. It is the sad truth to know that the majority of people these days work for money. They work to pay debts and don’t save up any money for themselves. It is just a vicious cycle and it is saddening.
I don’t want to be stuck in this Rat Race, do you? As Robert Kiyosaki said, pay yourself before anything or anyone else. Once you get your income, take a chunk of that money and save it. Then, pay your bills afterwards.
I realized that over time as I was receiving my paycheck every 2 weeks. I would take a large portion of that money and put it towards my credit cards and whatever money I had leftover, I would put it into my savings. It was taking forever for me to save thus after learning from Robert, I immediately started paying myself first.
Another article I was reading about yesterday from Rich Dad’s website was about how now is the time to start investing in stocks even if the market is predicted to crash next year.
To sum it up quickly:
There are 3 reasons why you should be investing in the stock market: scalability, agility and liquidity.
- Scalability: You don’t need much cash to start investing. You can buy a single share of a billion dollar company for $25 more or less (depends on the company). It is way more affordable than investing in real estate. Faster way to invest than saving up on your own.
- Agility: Market fluctuates often but you can make money if the market goes up (by selling for price higher than you bought it for) and even when it goes down (through stock options).
- Liquidity: It allows you to easily buy and sell. You can quickly go in and go out of the market.
After reading about it, I just want to start investing in stocks immediately. However, again I will reiterate that I won’t start investing until I do my due diligence.
Source: Rich Dad Company
Ok I’m done today’s blogging.
X.O.X.O.
– Fifster
