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Network with other Minority Mindset thinkers.

Tagged With "Income"

Tagged With "Income"

  • Stock Market Investing
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    From what I understand, M2 teaches that we should try to build sources of passive income but I am struggling a little bit to understand how exactly that works with stock market investing. I completely understand it with real estate because there is a check that comes to you every month from rent payments, but the only thing I know that is similar to that in the stock market is by earning dividends. So is the idea to invest for dividend income or am missing something? Obviously if I bought a...
  • Topic Reply
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    Hi @Landon Martin , we actually published a complete guide on this a little while back: https://theminoritymindset.com...ide-getting-started/ But essentially, if you wanted to gain passive income with stock market investing, you would have to invest in a company that offers its stockholders a dividend. Invest in enough companies that provide a dividend and you'll basically be paid for owning shares, AND you'll have the value of the stock you can sell at any time. Hope this helps!
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    In addition to generating PI from Stock Dividends look into other sources that can generate PI. Like writing a novel, blogging,/writing reviews or starting a small business. This way you can diversity your sources which can lead to funneling PI your way from multiple sources. Of course one can get PI from (1) source but you would have to invest heavenly in that (1) source and if it doesn't go as planned (since investing has it's peaks and valleys) you will find yourself in a position where...
  • Retirement Planning
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    I am. (Well my wife and I) Our short back story: We aren't wealthy by any means. But, my wife and I were having a discussion and ultimately came to the conclusion that we both are on the same page with respect to not working until the US recommended retirement age of [65-67]. We are in the mindset that It doesn't make sense to potentially waste prime years of our lives working in hopes of enjoying retirement without the assurance we will have the necessary [health or wants]. We prefer to...
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    Congratulation for your brave and uneasy journey! I like the FIRE movement, and this shared pursuit of good financial behaviors. However, I hope that one day automation and its profits will allow us a universal basic income, so that we won't have to "buy" our freedom as we do nowadays.
  • Topic Reply
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    Hello, I too am also trying to retire early. I also do not want to wait till I am 65 to retire and not have the energy as I do now to get around and travel. I see you have a great list here. However, for me what has worked the best is real estate. This brings in passive income from 3 properties. I have paid one off at the end of last year. Now all profit. Even though I want to buy another one for me to live in, I do not think its a buyers market with the influx in prices. I will wait it out.
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    @Riva951ie that is great. Based on what you've mentioned looks like you are on the right path. Good luck on the house hacking for your next purchase. Seems like a solid plan for your next investment. Can you tell me a little on what type of property you purchased first and how you made the decision to go for it? Any challenges that were not foreseen? (any reply can be concise) I know it can be burdensome at times to type out the answers to some questions. 🙂 :Nef:
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    @Nef I first bought a single family home (all 3 are). Honestly I was more forced to buy this since I did not qualify for much and having a truck payment did not help out either. However, my agent did recommend this area and the house value has gone up almost 300%! So in short, I qualified for so little and that was in my price range. This was in 2011 when I got the house for 83K =)
  • Topic Reply
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    @Riva951ie : Wow, that is so cool how things worked out in your favor albeit challenging. Hope this year bring more fruitfulness.
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