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Does Making More Money Sound Good?If you truly want to retire early, you must focus on making more money. Some people might not want to face that last sentence. And those will be the people stuck in the rat race at the age of 70. Hey, I'm just calling it like I see it. You want early retirement? Then you darn well better do something a whole lot different from the mass of people who end up broke at the "normal" retirement age. Never fall into the trap of the "money isn't everything" crowd. That crowd is full of broke and miserable people trying to convince themselves that they're happy. Now, don't misunderstand me. It's true that money isn't everything. I could care less about money. However, I do care about taking care of my family in the classiest way possible. I do care about thumbing my nose at the "bosses" of the world who want to keep you working like a slave. I do care about enjoying the good things in life that each and every human being deserves. Unfortunately, if you don't focus a few years on building yourself wealth, then money does indeed become "everything" and all you do is find yourself on the endless treadmill chasing down ways to get yourself some. - excerpt from Cashflow Quadrant, by Robert Kiyosaki (p.12) All right, let's consider how you might go about making more money so you can thumb your own nose at the "rat race"... Making More Money OnlineWhat could be better than making money from home in your underwear? Imagine a life where you get up when you want to, grab a cup of coffee, relax with your loved ones for a while, and then invest a few hours in your online business. How does that sound to you? No more traffic jams. You get your errands done during the day when everyone else is hard spinning their wheels in jobs they hate. When they're all driving home in rush hour, you're safely back in your home office making a few more sales (or already at the golf course). Now, don't be afraid of the Internet. Sure, there's a learning curve. You're building a business just as the local dry cleaner builds a business. Money doesn't come to magically. You'll need to learn a few new skills. However, the great thing is that you can be successful at making more money and you can do it based on something you're passionate about. What are you passionate about? This list could go on forever. But you have passions buried deep within you and you can turn a few of those into profitable websites if you so desire. Think about it... isn't life supposed to be fun? Stop being brainwashed by a world run by large corporations that want you in one of their cubicles and start digging yourself out of the rat race. Making More Money Through Real EstateReal estate investing is the method used by most of the wealthy people alive today. There are many, many ways you can go about making money through real estate. The classic method is to buy properties and hold them for the long term. Over time, your renters pay off your mortgage for you and you end up with wonderful profits in your old age as your tenants then pay for your retirement. Along the way, you benefit from wonderful tax breaks from the interest accumulating inside your mortgage (which, again, your tenants are paying for you!). You're also making more money if your rent intake is greater than your mortgage, tax, and insurance liability. Additionally, you can later take out tax-free lump sums as your properties appreciate in value. If you don't want to wait many years for profits, you could also "flip" properties for quicker money. Or, you could invest in tax liens. These are only three of the various ways for making more money in real estate. If this is an area of interest for you, you owe it to yourself to learn all you can and begin the process. Making More Money Through TradingAlthough more risky, options or stock trading is another way to increase the inflow of cash into your household. Optimally, you'll want to wait on this area until you have your long term retirement handled, your emergency funds handled, and you're able to use funds that can be "lost" and not dramatically alter your financial plans. However, if you can master this area of making more money, it can be quite lucrative. I would recommend securing a solid residual income first from the Internet, a network marketing company, or real estate before you invest in trading. The choice is yours, of course. I've only mentioned three ways you can dramatically improve your income. Pick one and just get started on your way to achieving early retirement today. Personal Finance Education home page |
Earn Retirement IncomeI'm always recommending using the Internet to fund part of your retirement. Here is your opportunity to learn the Secrets of Internet Success from an Expert...Learn MoreBoost Your InvestmentsDiscover the secret strategy for boosting your investments through penny stocks. How has the “buy and hold” strategy worked for you so far?Learn MoreRetire With Purpose |
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