The 4 Ways to Make Money
Job —- You must show up to collect pay.
*This is pretty obvious…working for the man and paying a lot of taxes to Uncle Sam.
Self Employeed — You must show up to make money but you have more control over the job. For example you could give or sell it to someone else, control it’s direction or in the best scenario turn it into a real business. The other benifit is that you can purchase many things with pretax dollars.
*Before becoming a computer guy I had my own craft business. I got to write off many things that I can’t now that I have a job, including a portion of my home (an office) and car (% used for business) and when I decided to change careers I was able to sell the business to pay for my training.———The Divide———
Business — There is a system in place that can make you money without you needing to be there or participate in any way.
*I am starting this business, and others, as my first steps into the world of business ownership. Eventually I will hire people to create the content on this site and I will be able to collect the revenue from ads and affiliate money, even if I am not actively involved in the business.
Investor — Where your money makes money for you without you having to excert effort.
*I once bought a stock at $9 and 6 months later the company was taken over for $45 a share. Was that investing? No, that was good luck. Most of the other stocks I have purchased have either been stale or gone down. Being an invester requires education. Rich Dad says that there is no such thing as a risky investment, only risky investors. Amen. Right now I’m in a back to the drawing board approach with my investing. My latest purchase was a high yield bond fund that gets about 8% a year. More on investing to come…