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Over a decade ago, a conclusion was made, I had endured to many firings, bankruptcies, and other changes in my working world that created dire economic circumstances.
Over a decade ago, a conclusion was made, I had endured to many firings, bankruptcies, and other changes in my working world that created dire economic circumstances.
The acquisition creating a catalyst to inspire a thriving business flipping storage units “Rock bottom became the solid foundation on which I rebuilt my life.” ― J.K. Rowling Running Out of Options Back in early 2005, I had a hole to crawl out of. Without getting too far into the details, struggle, a major injury and a geographical transition led me to a place with little resources. Still having rent to pay along with food to buy and other expenses. My bank account had a meager $150 left, I was unemployed, no benefits or help was available. It became clear I had to do something and do it fast. Literally living in what used to be a chicken coop, one day during a brainstorming session, an idea arrived. The website eBay, had been my friend, knowing how to list, sell and ship, my efforts were focused on finding something to sell. But how, with only $150 left and food needed in the pantry? My memory does not serve me well enough today for sharing exactly how I came up with the plan, but here it is. “If you have never reached rock bottom, you have never attended the school of greatness.” ― Matshona Dhliwayo Dialing for Dollars Sales were easy with my knowledge of selling online and an established eBay account with several thousand positive ratings from selling my art. Products can be turned into cash in just a few days. If you have the inventory, but I didn’t. AContinue Reading
Many people come to me asking for help then never start “Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas.” —Paul Samuelson The Hardest Part Like in many things, getting started can be the toughest obstacle. Especially if it’s new to us or unknown. I knew this 20 years ago when I asked myself, “how can I” become an investor. The memory is fresh of how daunting it seemed. I did not really understand any of it, all I did know was my desire to create something more from very little. So, I just keep pushing forward. Back then, I had a Yahoo account that came with a free email and some other tools. It still does today, but I’ve moved over to Google, same tools only better. Both platforms have a finance page that looks something like this. “I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful.” — Warren Buffett Baby Steps I’ve fielded many comments from people around a lack of money. The thought causing them to stop before ever getting started. That beginning point is actually more perfect than they can imagine. It’s where I started from 20 years ago. With a simple and free Google or Yahoo finance page you can create portfolios and track how they grow or drop in value. I started by watching the marketsContinue Reading
Study and measure before you take the dive a follow up how to on creating wealth and growing your money “In investing, what is comfortable is rarely profitable.” — Robert Arnott Taking Action Several readers kindly commented and asked for follow up information after reading my article A Practical Entry Point to Stock Market Investing. Thank you Linda Levitt and Meg Stewart. It’s no wonder it took me so long to become an investor, my Dad had a palpable hate for the stock market. The apple doesn’t fall to far from the tree, he passed it on to me. Well, he tried. Somewhere along the line, I realized he had taught me all he could, I sought other mentors. That’s when I found many ready to help, including Robert Kiyosaki the author of Rich Dad Poor Dad. “You get recessions, you have stock market declines. If you don’t understand that’s going to happen, then you’re not ready, you won’t do well in the markets.” — Peter Lynch 4 Ways to Earn Robert made most of his money in the early days investing in Real Estate. He went on to write books, create a board game, begin podcasting and educating around the subject of creating wealth. He even wrote several books with Donald Trump. It was Robert who introduced clarification for me on the four ways to earn money. E — Employee Most individuals only earn in this way. You work for a company trading your time for money. To earnContinue Reading