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10 Ways How To Make More Money.

10 Ways How To Make More Money.

Most people are never taught properly about money and financial security.

The key to financial security is to generate income from multiple sources.

The first income source is your investment portfolio.

The second income source is real estate.

The third income source is marketing a business, yourself or your ideas.

Within these three sources are 10 income streams.

#1 Invest in the stock market:

The best way to win in the stock market is to adopt the idiot’s approach. The lazy way, the simplest way, is ironically the best way. It’s based on three obvious lessons:

The longer you invest, the lower your risk.

If you can’t beat ’em, join ’em – Buy an index fund made up of all the stocks in the market.

The sooner you buy, the richer you can become. The longer you have your money at work the more money you have to compound.

#2 Invest in accelerated stock strategies

There are six ways to magnify your investment returns:

Let the master himself manage your money: Warren Buffett. Buy shares of his company, Berkshire Hathaway. He is without question, the greatest stock investor of all time.

Select mutual funds with the longest-term track record.

Select only financial advisors with the longest track records.

Let your portfolio go to the dogs – Narrow the stock universe to only the 30 that make up the Dow Jones Industrial Average, and invest in the ones that have the highest probability of increasing in value in the next 12 months.

Consider enhanced index funds.

Consider high-powered stock sector funds.

#3 Double down on the market

Invest 80% of your investment money into long- and intermediate-term investments such as index funds, aggressive mutual funds, and stocks. The remaining 20% should be handled more aggressively, with a shortened time frame and a more narrow focus.

#4 Invest in real estate

Buy real estate with little or no money down by finding highly motivated sellers, financing bargain properties and selling quickly to harvest your profits.

#5 Foreclosures and flippers

Flippers are properties that you buy and sell quickly at a profit. These aren’t properties you will hold for very long. If you can buy them cheaply enough – via a foreclosure – you can flip them quickly afterward by selling them at market value for a nice profit.

#6 Pay other people’s taxes

Investors buy tax lien certificates secured by the real estate to which it is attached. You aren’t buying the real estate, just the lien. When you buy a tax lien, you are paying someone else’s property taxes. Best of all, the government actually gives you the right to receive all of the tax money due – including fees, high interest, and penalties. To encourage taxpayers to pay their property taxes, the government charges punitive sky-high interest rates, which are passed directly to the tax lien purchaser – that’s you.

#7 Network marketing

Network marketing combines sales of tens of billions of dollars with more than 10 million active distributors worldwide. It is not only legitimate, but it’s being recognized as the growth industry of the future. Just recently, AT&T, the worldwide telecommunications giant, began marketing its long distance services through network marketing. By distributing products, you earn commissions. Companies you may be familiar with in this area include Amway, Shaklee, and Nu Skin. If you can find just one or two customers in every 100 contacts, you can build a fortune.

#8 Infopreneuring

An entrepreneur whose main product is information is called an infopreneur. Since intellectual property is the real wealth of the new millennium, the timing couldn’t be better for you to earn from your ideas. Consider the case of William Gates III, the wealthiest person on the planet and infopreneur extraordinaire.

#9 Licensing

You can turn your expertise, passion or hobby into cash-flow streams. Infopreneurs make money from selling their intellectual property. When someone licenses your name or ideas and markets what you have to offer, they make money, and more importantly, so do you, in the form of royalties.

#10 Dive into the internet

It makes it possible for you to reach new customers for pennies per thousand versus hundreds of dollars per thousand. And since marketing the traditional way has always been one of the largest business expenses, using the Internet as the basis of your business makes starting a company more affordable than ever before. What starts out as a small business on the Internet can become very profitable. If you can get people to your Web site, you can take your business to the top.

Tax planning is essential to plugging up money stream leaks.

Retirement planning is essential for preserving financial security.

Shield your income through asset protection.

Preserve your money for the next generation through estate planning.

 

Source(s)

Multiple Streams of Income How to Generate a Lifetime of Unlimited Wealth Book Cover Multiple Streams of Income How to Generate a Lifetime of Unlimited Wealth
Robert G. Allen
Wiley
2000
Robert G. Allen ’s first book, Nothing Down, sold more than one million copies, becoming the largest-selling real-estate investment book in history. A successful entrepreneur and seminar leader, he has an MBA from Brigham Young University. He is a popular guest on radio and TV programs, and has been featured in many national magazines.

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