Aside from solely finding wealth, investors can benefit from learning how to improve their overall lifestyle which is what we aim to help with for our Accredited Lifestyle Investor audience. In this section, you will find content related to lifestyle improvement tips for passive investors. Ranging from physical and mental health, good habits, and personal growth tips, we’re excited to provide lifestyle content for the wealthy passive investor.
A Look Inside BEC2022 Headquarters: Gaylord Rockies Resort

A Look Inside BEC2022 Headquarters: Gaylord Rockies Resort

Don’t get us wrong— we’re definitely excited that the Best Ever Conference will be back in person in 2022. But we might be even more thrilled to be hosting the event at the vast 500,000 sq. ft. Gaylord Rockies Resort in Denver, Colorado. We’re looking forward to spending February 24–26 at this location for several reasons:

 

Setting the Scene

You’ll know you’re in Colorado the moment you enter the Gaylord Rockies for its classic Colorado rustic cabin décor. Guests can experience breathtaking views of the Rocky Mountains from the stunning 75-foot-tall atrium lobby windows. The resort truly captures the Rockies’ ambiance — waterfalls included.

 

Location, Location, Location

The Gaylord Rockies is a short 10-minute drive from Denver International Airport and is about 30 minutes from downtown Denver. For transportation options from the airport, there are taxis and rideshares such as Uber/Lyft, plus the Gaylord Rockies’ shuttles for guests traveling to or from the light rail station at 61st and Pena, located near the airport.

 

All You Can Eat

The resort offers an array of restaurants and bars on-site, including:

 

Mountain Pass Sports Bar

A casual spot with burgers, sandwiches, and a wall of craft beers on tap. There is a 75-foot big-screen TV in the bar to catch your favorite game on.

 

Pinyons

The hot-spot lobby bar and the perfect place to view the sunset from the Grand Lodge.

 

Old Hickory Steakhouse

Provides a more upscale vibe with high-quality beef, fresh seafood, and fine wines. This is a signature Gaylord Hotels restaurant that can also be found at other Gaylord properties.

 

Monte Jade

An eclectic Asian-themed restaurant and sushi bar.

 

Vista Montagne

Seasonally-inspired Italian cuisine.

 

Casual Grab & Go

Rockies Marketplace or The Cocoa Bean, which brews Starbucks coffee.

 

Winter Fun

Did we mention the pools and waterparks? The Gaylord Rockies Resort’s pools are open year-round, and the outdoor pool is heated through the winter, so it will be open in February when the conference takes place. Visit the Relâche Spa for luxury and relaxation, or the Relâche Fitness Center, which offers modern fitness equipment including Peloton bikes. The resort will also offer seasonal winter activities for guests — check back closer to the conference date for more details.

 

Ready to Book?

There are exclusive hotel room discounts for BEC attendees the week of the conference — check out the discounted ratesYou can also visit us at besteverconference.com for more information about the BEC2022. We hope to see you this winter!

 

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Money Isn't Everything — Or Is It? Insights from a Millionaire Coach

Money Isn’t Everything — Or Is It? Insights from a Millionaire Coach

Financial freedom is a common goal for many people. But how do you achieve it? Will it really make you happy? Krisstina Wise has an answer. The millionaire coach has loads of experience earning, saving, and losing money. She has been through severe financial upsets, and now she helps other people find their financial freedom.

 

The Delicate Balance of Money Matters

How much does money matter? Wise believes that money is of utmost importance. Without it, she might not be alive.

A decade ago, Wise was doing extremely well with her real estate brokerage. But she became seriously ill in 2013. After spending almost a quarter of a million dollars in medical bills, Wise says that money saved her life.

But what kind of life do you have if all that you’re doing is managing your income? Wise admits that she enjoyed investing and developing a passive income stream. However, she was driven by her financial goals.

Even though she was concentrating on creating passive income, she didn’t have free time in which to pursue other interests. She had a one-track mind, and it was on money.

After she recovered from her illness, Wise wasn’t sure what living a fulfilled life entailed if it didn’t involve making money. She recognized how vital her financial assets were when it came to overcoming her sickness. But she was driven to discover herself on a deeper level.

 

Money Is an Intimate Relationship

Before she got sick, Wise was all about investing, scaling her business, and making her mark in the real estate world. Then, she fell out of the limelight for a while. That’s when her priorities shifted. She was humbled when she realized that her industry could live without her.

Life is a journey, and she wanted to record hers. So, she sat down and wrote a book. She wasn’t trying to make millions by sharing her story. Instead, she wanted to help others. That’s when the real change happened.

Wise wrote about changing your relationship with money. Instead of viewing money as the objective, she dug into the meaning behind financial freedom. Now, she helps people reverse-engineer their relationship with money as a millionaire coach.

 

What Do You Actually Want?

It’s easy to fall into the trap of making more money for money’s sake. A solid income feels good. It makes you want more.

Although most people say they’d be happy with a generously padded bank account, they often fall into two camps. Some people never seem to have enough of it. Others devote themselves to earning and get caught up in the cycle of overachieving. They make money just to make it.

If you truly want to be financially fulfilled, the millionaire coach believes that you have to start by looking at your goals. Some questions to ask yourself include:

  • How do you define a good life?
  • What is meaningful to you?
  • How much money can provide you with the lifestyle that you desire?
  • What other assets are important to you?

One of the assets that Wise believes is essential to happiness is health. Investing in yourself should come before everything else. That’s why it’s so important to determine what you really want out of life before you focus on financial freedom. Once your reasoning is clear, you can create an effective, fulfilling plan for supporting your life goals.

Personal growth is important. But if you’re obsessed with growing your bank account, you might not be focusing on the other areas in which you can flourish. This one-sided mindset may help you support yourself financially, but it won’t bring you happiness.

 

Practical Tips for Empowering Yourself Financially

When will you have enough money to support your happiness? Answering the questions above can help you determine that. If you don’t know where you want to end up, how will you know when you have arrived?

Earning money aimlessly can throw you into a never-ending cycle of dissatisfaction. Wise refers to this as being “in the grind.” Living this way can lead to chronic stress and overwhelm. This mentality doesn’t support a healthy, fulfilling life, according to the millionaire coach.

Wise’s top tip for creating a healthy relationship with money is to work backward. Begin by asking yourself what your life would look like if you took your financial pursuits out of it. Take some time to contemplate what would truly make you happy.

Then it’s time to do some calculations. What kind of financial support do you need to achieve your desired lifestyle? Take your debt out of it. You just want to determine the monthly or yearly cost of living your desired life.

Ideally, Wise says that you should try to live without debt. If you do carry debt, calculate your monthly payments separately from your “desired lifestyle” budget.

After doing the math, you have your financial goals in front of you. This can be a huge relief for many people. Calculating your financial goals may help you realize that you don’t need to build a 30-million-dollar business. It allows you to get out of the grind and make daily, practical decisions that uphold your financial goals.

 

How to Achieve True Financial Freedom

Instead of working aimlessly to achieve more, you know when to stop. That stopping point gives you the freedom to do all of the other things that are important to you.

True financial freedom means that you get to make choices. You’re not driven by the survival-mode mechanism of forcing yourself to work so that you can pay the bills.

One of the best ways to get there is to focus on investing and building your assets. A passive income should be part of your financial plan. This should involve alternative investing strategies, such as real estate. When you love money, you begin to use it in a way that you love, too.

No matter how much money you make, life continues to deliver surprises. When you have developed a meaningful financial strategy, you can let go of your hold on money and focus on what really matters. That’s true financial freedom.

 

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A Team Mentality with Mikhail Avady and Sophia Li

A Team Mentality with Mikhail Avady and Sophia Li

It could have been just another day for Mikhail Avady at the Atlanta Technology Village. As a hub for growing startups, Atlanta Technology Village was a frequent stop for MBA students at Emory University. That day, an entrepreneurship professor asked Mikhail if he would be available to give a tour to a group of incoming students. Little did he know, Sophia Li, his future wife, would be one of his tour guests.

After successfully mastering the educational realm, earning a collective three master’s degrees between them, Sophia and Mikhail each have their own flourishing professional career. Sophia is a senior sales engineer for a technology company, while Mikhail is a senior executive at a thriving tech startup creating a dynamic conversational text marketing platform. However, beyond their professional success, their shared passion and ownership in real estate investments allow them to grow and flourish together.

Sophia was the first to take a step into real estate in 2016 by purchasing a single-family home in the Atlanta area at just 25 years old.

“I bought my first single-family rental home partially because of the influence from my parents because I’m from China; Chinese people love real estate a lot,” Sophia said. “I was renting an apartment at that time because my rental property was in the suburbs.”

Shortly after Mikhail saw Sophia’s investments in real estate, he began to explore investment options, as he was looking for a way to diversify his assets beyond cryptocurrency. He had familiarity and comfort with the cryptocurrency market since he had previously started and run a cryptocurrency mining farm. Therefore, real estate was a logical choice for both Sophia and Mikhail to use as a wealth-building asset.

“We wanted to make a slow but consistent investment into single-family, and we didn’t want to overexpose in some of the other assets, so we were looking for other areas of investment,” Mikhail said.“We have some friends that are builders, and it became apparent that the more doors you have, the more you can scale. But we don’t have the time to do any of that. So we thought, ‘Where else can we put money into real estate?’”

Today, they manage both single-family and multifamily syndications. Operating as a team, they evaluate all current and potential investments while bringing their unique points of view and different risk tolerances to the table.

“We have very different risk tolerances,” Sophia said.

“I do our risky stuff; she does our safe stuff,” Mikhail shared. “She keeps me from making stupid investments, and I think sometimes I try to push her into some.”

Aside from their difference in risk tolerance, Sophia and Mikhail are united in their ability to look at real estate from a long-term perspective. So much so, that when they purchased their current home, they planned from the beginning to move out and turn it into a rental property after two years.

That timeline has since moved up as the couple will be welcoming their newest tenant, their first baby, in October.

“When we bought our house, a townhouse, we were considering it not only a primary home but also as a rental after two years,” Sophia said.“That’s why we’re doing a renovation on one of the rentals I bought. We’re going to renovate and move there because it’s a bigger single-family house, while we’re going to rent our current townhouse out. But it’s good because we prepared for this to be a rental.”

Sophia and Mikhail also are aligned in their strategy to diversify their investment portfolio to include passive investing as a vehicle to help them reach their long-term investment goals.

“We have a certain amount of passive income that we want to reach, and this is one of our strategies towards getting there,” Mikhail said.

“I think our long-term goal is probably to have a good amount of passive income, so we don’t need to worry too much about the future, and to have the freedom of choice,” Sophia said. “I feel like I’m most confident about real estate because it’s stable, long-term, and it generates equity.”

 

About the Author:

Leslie Chunta is a marketing consultant with nearly 15 years of experience in creating dynamic marketing programs and building brands for startups to enterprise organizations. She has worked agency- and client-side with high-growth companies that include Silicon Valley Bank, JPMorgan Chase, SailPoint, EMC, Spanning Cloud Apps, Ashcroft Capital, Netspend, and Universal Studios. www.thelabcollective.com

 

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5 Colorado Travel Tips for the 2022 Best Ever Conference

5 Colorado Travel Tips for the 2022 Best Ever Conference

Who’s ready for some après ski? Best Ever Conference attendees often use the conference as an opportunity to vacation in Colorado either before or after the conference. It’s truly the perfect winter adventure to get your team together before or after the BEC, or even for inviting your family and friends to join. Let’s face it, this past year has caused us to pause many of our vacation plans, and we’re all eager to get back out and create some exciting experiences. With that in mind, we’ve put together our top Colorado travel tips to help you make the most of your stay.

 

1. Pack your gear.

If you are planning on venturing outside of Denver, don’t forget to pack your snowboard, skiing, or sledding gear. Some of the most popular ski resort towns in the world are located in Colorado such as Aspen, Breckenridge, Keystone, Telluride, and Vail. These ski towns offer incredible resorts located close to town, as well as shopping, restaurants, and other winter activities.

 

2. Book early.

It’s certainly not too early to book your ticket and travel plans for the upcoming BEC. You won’t want to catch a case of travel FOMO by skipping out on your opportunity to secure your spot and travel accommodations. Hotels and vacation rentals start booking in the summer for the upcoming winter season, and since this year is the year of travel, many vacationers are securing their winter lodging already — especially the ski-in/ski-out homes.

 

3. Remember your lift tickets!

In addition to booking your stay, it is highly recommended to book your lift tickets in advance as their prices are expected to increase throughout the year. Those who purchase lift tickets early always receive the best discounts, and they avoid the risk of waiting until the resorts sell out.

 

4. Explore Denver.

Interested in staying local in Denver? There’s plenty to experience in the Mile High City. Did you know Denver brews more beer than any other city? Denver’s downtown area offers a wide variety of brewpubs, eclectic restaurants, and world-class galleries and museums. Another popular location to explore is the artsy hotspot neighborhood River North Art District (RiNo).

 

5. Snag an exclusive resort discount.

The BEC is offering limited exclusive discounted rates at the Gaylord Rockies Resort for attendees. The Gaylord is extremely convenient for travel as it is just minutes from Denver International Airport. The rustic resort is the perfect retreat for a winter vacation — indulge in tranquility at the resort spa, indoor and outdoor water complex, and lazy river, and soak in the picture-perfect views of the nearby Rocky Mountains.

 

There is so much to look forward to this winter at the BEC, and with these Colorado travel tips in your back pocket, you’re sure to have an incredible time both in and outside of the conference. Secure your spot today by visiting besteverconference.com.

 

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How to Succeed as a Real Estate Investor While Working Full-Time

When you work in a high-earning job, you may wonder what the best use of your money is. You likely want to take measures to secure your and your family’s future and find ways to become less reliant on your day job.

We spoke with Peter Kim, who’s something of a triple threat, about how he manages working full-time, investing in real estate, and running a blog. He shared his best-ever tips with our audience to help them get started in the industry.

If you want to learn more about putting your money to work, balancing work and family life, and carving out space online, read on for some of Peter’s top advice.

 

How to Get Started in Real Estate Investing Even When You’re Busy

If you’re working a full-time, high-paying job, you’re likely busy for many hours each day. Throw in a family, especially one with small children, and you may feel like you have nothing left to give when it comes to starting a side business.

Peter’s advice is to prioritize. You obviously have to spend time on your primary job and family, but what do you do with the rest of your time? If you truly want to succeed in real estate, you may have to sacrifice your free time, especially in the early days.

Kim would often stay up for hours after his kids went to bed, sacrificing his free time and his sleep, to get his business off the ground. He worked his way into the industry and eventually his late nights paid off.

 

Transitioning From Being a Passive Investor to an Active Investor

Peter started with passive investing for a few reasons. First, he felt that he didn’t know commercial real estate well enough to do a lot of it on his own. He started with crowdfunding and syndication initially because it was less risky and was a good way for him to learn the ins and outs of commercial investing.

As someone with a high-earning job, it can be challenging to change your mindset to other types of earning. You’re used to actively putting in the hours at your job in exchange for money, but with real estate, you often do a lot of research and work upfront, but then you have to be patient while you wait to see results.

As he grew in confidence, he got into active investing. He started with a single-family home and then worked his way up to multifamily commercial properties. He does well as an active investor, but he didn’t stop passive investing either.

Peter’s strategy is to diversify his business. That way, if one of his investments isn’t doing as well, he has others to fall back on. Passive investing is also a good way to earn money without having to continually put in long hours. If you go through a busy time at your day job, you’ll still be earning through your passive investments.

 

What to Look for in a Syndicator

Peter puts a lot of emphasis on finding the right syndicator, especially when you’re just getting into commercial investing. Since the syndicator will be making decisions on your behalf and those decisions will affect your finances, you want to make sure you have someone who knows what they’re doing.

When vetting a syndicate, you want to first find candidates who’ve been in the game for a while and have some experience with the type of investments you want to do. Look into their track record. You want someone who is successful. Some failures are okay too; a lot of it comes down to how they navigate difficult situations.

The next thing to look for in a syndicator is who else has invested with them. If there’s someone you know and respect who also invests with that syndicator, then that’s a good indication that they’re good at their job. Finally, you want to meet with any potential syndicators. Even if they have a good reputation, you want to make sure that the two of you get along and that they understand your needs and concerns.

 

Don’t Wait — Just Jump in and Learn as You Go

When people decide to get into commercial investing (or any new business venture), they often spend a lot of time researching, going back and forth between passive or active investing, and basically just waiting around until they feel comfortable spending money.

The problem is, you’re never going to feel 100% confident about an investment, and if you wait around until you do, you’ll never invest. Peter’s advice is to do a little research, then dive in. You’ll be taking some risks, but you can learn as you go.

 

Blogging and Real Estate Investment

Peter started blogging as a way to give his friends advice about getting into commercial properties. He didn’t expect his blog to blow up the way it did, but once he saw the opportunity, he seized it. He discovered that his blog was another way to make money, and he’s used it to grow his income.

Although it takes up more of his time, Peter makes sure he’s consistent with his blog and posts often to keep his readers coming back. If you’re interested in starting a blog, you don’t have to be an expert. Peter said that when he started, he was by no means an expert on investment — he was just a few steps ahead of his readers, and thus able to offer advice.

 

Final Thoughts

If you’re in a high-earning field, you can make your money work for you so that you don’t always have to rely on your income from your job. It can be time-consuming, but if you’re willing to put in the work and sacrifice some of your free time, it can definitely pay off.

 

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Ending Financial Illiteracy: How To Teach Your Kids About Money

We’ve all been there – sighing deeply as we turn off the lights and (again) reminding the kids to be mindful about wasting electricity. I, too, have been known to criticize my family members about turning off lights, using less water, and bundling errands. Sure, we’re eco-conscious, but even more so, we’re financially conscious and determined to pass positive financial habits on to our kids.

I know I’m not alone as my kids seem to incessantly ask, “Can I have this?” with every turn of the shopping cart. As parents, it’s easy to feel like the kids have no respect for how hard we work and the money it takes to provide them this extraordinary life.

But before we assume they’re ungrateful, let’s take a step back and look at the truth.

Open conversations about money, why we spend what we spend, and the reasons we make certain financial choices over others are rare, especially from parent to child.

Most parents don’t know where to start when it comes to teaching their kids about money. It’s a big, wide-ranging topic that might even come with some baggage, so it’s easy to feel frustrated, misunderstood, and even overwhelmed when it comes to talking to your kids about money.

Here’s why – it’s not a one-and-done conversation. Teaching financial literacy to your kids is an ongoing 18+ year commitment, parallel with the job you have to raise respectful, strong-willed, purposeful humans. Just as you would teach table manners to a toddler and then continue to remind them about your expectations well into their teen years, you’ll begin with simple math concepts around the age of 5 and expand into investing and compound interest during the teen years.

The struggle you’re facing right now with the light switches always being left on is because they haven’t mentally connected the electricity being used with the cost of that use. In this article, you’ll discover how to talk with your kids about money, a few simple concepts you can teach your kids this week, and tangible lessons you can implement as part of your plan toward your kids having a financially savvy future.

 

How Your Young Kids Will Begin To Grasp Financial Concepts

Of course, you’re not going to begin your first conversation teaching compounding interest to your 4-year-old! Children can understand a little more with each year, and you slowly build on their math skills and present simplified financial concepts based on their age, the situation, and the lesson you’re shooting for.

Young kids between the ages of 5 and 9 just need to learn basic arithmetic and have practice earning money, saving some, and spending some. This teaches them the basics of how the world works – you earn $10, you save $2, and you can buy a new toy for $8. Simple, right?

When kids can connect that each thing we do or have is paid for somehow, they’ll start to be more considerate of your household budget. Leaving the lights on, for example, might make the electric bill higher, and you have the opportunity to present and share the statement from the electric company and discuss this financial obligation that exists month in and month out.

Between the ages of 9 and 15, children can understand adult-like financial concepts like credit cards, compound interest, investing, and compute complex equations. At this point, it’s highly recommended that you share much more about your income, your bills, mistakes you’ve made, and, yes, your investing choices with them.

Teaching concepts to our children while they’re young, while they have time to practice and experiment with money under your wing instead of when it matters (like with rent or their credit), provides them an even greater chance at financial success.

 

Saving Is Great, But Investing Is Key

The most important thing, no matter the tools you use, is that your child gets access and experience with money. That means earning it, making choices whether to spend or save it, losing it, investing with it, borrowing it, paying it back, and everything that we adults do with our money but on a child-size scale.

Provide opportunities for them to earn some cash, and walk them through what to do with those earnings. As you encourage them to save some, spend some, donate some, and invest some, talk to them about why these choices are essential and share about similar decisions you’re making with your own money.

Don’t be afraid to share more significant concepts like the impact they could make on a large scale with donations, mistakes you’ve made and what you learned from them, or how they can double their money investing as you do now in real estate syndications. The real lightbulb moment will be when they begin to understand that investments provide passive income – so much so that, if done well, they can choose whether or not to work.

You get this beautiful opportunity to guide them in earning their first several thousand dollars, building up their savings, and gaining exposure to the fantastic world of investing. Just imagine how much more opportunity for freedom and impact they have just by exposure to these concepts. Amazing!

 

The #1 Money Mistake Parents Make

In general, talking to your kids about money is a million times better than avoiding the subject. It doesn’t matter how much or how little of an expert you think you are on the subject. They need to know about your financial mistakes to learn from them just as much as they need to know about the great decisions you made so they can emulate them.

Either way, discussing finances and allowing your child some exposure and experience with money and financial conversations provide them more knowledge and confidence with money than if it were never discussed at all.

Unfortunately, there is one glaring mistake we’ve probably all made.

Most of us can admit that we’ve said, “We can’t afford that,” at least once to our kids in response to their request for something.

While that may be the easiest, most automatic quip, it’s a missed opportunity for a teachable moment. Sometimes you’re just tired of saying “No,” but it’s important that we lean into that conversation about why we’re not buying it and why/how we’re making different choices with our money.

The truth is, we probably can afford that. So, instead of accidentally frightening your kid into a scarcity complex (yep, that’s what really happens), intentionally replace that phrase with a new, more precise, more truthful expression like, “That’s not why we’re at the store today,” or “That’s not in the budget right now”, or “The money I’m spending today is only for groceries.”

It’s okay to tell your kiddo the truth about why your answer to their request is no, and it’s even more okay to have an in-depth discussion about budgeting, spending money on meaningful purchases, and investing for the future instead of instant gratification. Honestly, we adults struggle with these concepts too, so it’s a great idea to introduce them at a young age.

If you replace the thoughtless ‘we can’t afford that’ response with an open conversation about financial choices, you and your kids will be much better off.

 

How To Talk To Your Children About Money

The best thing you can do toward teaching financial literacy to your children is to model your own financial choices openly for them. Talk them through the options you have, why you’re making one decision over another, what bills you’re paying and why, and even the trade-off we all face in spending money versus saving it versus investing it.

They need a taste of reality while still living at home to learn about decisions they will have to make when they are out on their own. Allow them to exercise their own spending habits and make the $20 or even $100 mistakes now because those are much better to learn from than the $1000+ mistakes they could make with rent money when they’re older.

Share about your income and bills so they can see what it costs to live their current lifestyle. At the same time, share openly about what it was like for you when you first started out. Although it might be hard to talk about your mattress-on-the-floor and ramen noodle days, they need to know that your life wasn’t always cashflow positive.

This openness can help them realize that it’s okay to start out small and that, realistically, they won’t be living their current lifestyle when they move out. While that might be scary to some, you must help them see the value of that independence. With your help, they’ll begin their independent financial life with accurate expectations and knowledge of what utilities, transportation, food, and other necessities cost, and they’ll be less likely to feel like a failure in comparison to the lifestyle you’re able to provide.

 

Ending Financial Illiteracy For The Next Generation

Create open lines of communication between you and your kids about money and financial subjects so that they can always come to you with questions, dilemmas, wins, and losses, and so that you’ll continuously have the chance to guide and teach even as they grow into early adulthood.

While we remember what it’s like to struggle vividly, our kids only see what life is like today. With full bellies, all the toys they can handle, a plush bed, and a sweet vacation each year, they don’t necessarily understand the value of a dollar or the sweat and tears it took to reach this level of financial freedom.

This is why it’s even more critical to talk openly with your kids about spending, saving, and investing and that you instill positive financial values while they’re young. You want them to be equipped with the tools to care for themselves, build their wealth, responsibly use the wealth you pass to them, and positively impact the world when it’s their time.

We’re always learning, right?  So, again, it’s a great idea to model that for and discuss your journey with your kids. You don’t need picture-perfect finances to be an authority on the subject with your children. They’ve already looked to you for every answer they ever needed their whole lives, and they aren’t stopping now.

Teach them the power of investing and help them get the correct accounts set up so they can practice and begin getting financial experience. Just imagine how different your trajectory would have been if you’d known about compound interest, passive income, and real estate syndication investments when you were their age!

Most of us didn’t get much of a financial literacy lesson from our parents, if at all. Fortunately, most of us are also absolutely determined to teach our children about money and break the cycle of financial illiteracy, struggle, and living paycheck-to-paycheck. With the simple tips and encouragement in this article, now we all have an opportunity to positively impact the next generation by teaching financial literacy to our kids!

 

About the Author:

Annie Dickerson and her partner Julie Lam are founders of Goodegg Investments – an award-winning real estate private equity firm – and creators of the Real Estate Accelerator Mentorship Program. They are authors of the book Investing For Good and hosts of the popular Life & Money Show podcast: https://goodegginvestments.com/ 

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Be Go-Giving

The Go-Giver is a fictional story about a struggling salesman named Joe who learns the Five Laws of Stratospheric Success through a mentor. As investors, we should search for asymmetrical returns with a built-in margin of safety. Being a go-giver essentially has a built-in margin of safety where you cannot lose and provides an asymmetrical return like no other investment. Following all five laws, ideally, you would first become your best authentic self in order to attract like-minded individuals and true valuable relationships. Subsequently, you would give as much value as you can while placing other people’s interests first and ultimately controlling your compensation. Lastly, being open to receiving keeps the cycle progressing.

The Five Laws are:

  1. The Law of Value
    Your true worth is determined by how much more you give in value than you take in payment.
  2. The Law of Compensation
    Your income is determined by how many people you serve and how well you serve them.
  3. The Law of Influence
    Your influence is determined by how abundantly you place other people’s interests first.
  4. The Law of Authenticity
    The most valuable gift you have to offer is yourself.
  5. The Law of Receptivity
    The key to effective giving is to stay open to receiving.

Many people you meet could solely be takers instead of givers. That’s fine, avoid the vampires and bring the garlic. One important aspect to mention is to be excessively careful between giving false and true value. The idea is not to give and expect something in return, but to give genuinely. Giving with the intent of expecting something in return is a bribe. Giving genuinely without expecting anything in return is an act of kindness. So how do we provide immaculate value?

In order to add the most value for people, it is extremely valuable to be a really good and active listener. Throughout every encounter with people, strive to remember names most importantly, followed by significant details. Passionately listen for specific details like their spouse’s name, their children’s names, hobbies, interests, dislikes, occupation, habits, and goals. Avoid taking notes during a conversation because it can be somewhat rude, but document everything you remember after the encounter while it is still fresh. In today’s digital world, we’re habitually drawn to our phones, so make a conscious note to proactively keep it silent and out of sight. Give your guest your full, undivided attention, because they’re spending their most valuable asset with you – their time.

When learning more about people, ask open-ended questions like:

  • How’s your family?
  • What was the highlight of your week?
  • What are you focusing on?
  • What can I do to help you with your goals?
  • What are you most excited about?
  • What challenges are you facing?

Keep an extensive list of notes in your contacts list regarding what that specific person is focusing on and what you can help them with. This will help you to remember your previous conversations and whether or not you have an opportunity to help.

Lastly, utilize giftology, which is the practice of gift-giving. Avoid gifting only annually on Christmas, but rather unexpectedly when a gift provides value to your receiver. The science behind giftology is the creation of thoughtfulness and long-lasting relationships.

By practicing these tactics along with abiding by the Five Laws of Stratospheric Success, you’ll be able to add thoughtfulness and value to those around you. Good luck on your go-giving journey.

Tanh Truong is a pharmacist by day and an investor by night. A thoroughbred of Cincinnati, he invests locally in high-yielding assets and higher-yielding relationships.

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Sacrificing Short-Term Satisfaction for Long-Term Happiness

If you are into investing and want to make the most from your effort, you must balance short-term satisfaction and long-term reward. Otherwise, you get stuck in a downward spiral from which escape seems impossible. The good news is that you can overcome that problem. Learning the difference and why you should keep an eye on the long-term is vital.

You achieve much more and gain true fulfillment, and you will know you did the right thing. You must explore both sides and gain a true understanding of how these concepts work. Even if you don’t get the outcome you want right away, learning about short- and long-term satisfaction goes a long way toward your goals. The key is to understand how your brain works and to craft a solid plan. With those things in mind, you should have no trouble moving forward.

Active Investor: Learn How Your Brain Works

Learn how your brain works for the best results. When it comes to short- and long-term satisfaction, you deal with the emotional and logical side of your brain. Your emotional side wants a reward right away. In investing, this happens when you want a path that leads to a faster payout. The logical side of your brain, on the other hand, wants you to wait longer for the larger payout. Also, most people look only at their short-term goals by default. You must train your mind to look at the benefits of overlooking short-term gratification in favor of long-term reward.

Make a Plan

Having a plan is vital. Many people go through life without a solid sense of direction. If you don’t have a plan, you have no way of knowing if you are moving in the right direction. You have no way of tracking your progress or knowing where you are. On the other hand, a solid plan keeps you on track and lets you monitor your progress. Every active investor needs a plan, and creating one is a powerful step in the right direction.

Think about what you would like to achieve over the coming months and years, and you won’t have trouble reaching your desired outcome. How much profit would you like to earn over the next five years? What steps should you take to get there? Make an outline of your plan for the best possible results, and you won’t have to worry about too many unneeded complications.

Don’t overthink your plan at the start. You can always change it as you move forward, and most people do. Review your plan all the time to make sure you are on track to reach your goals. This helps you maintain your motivation and ensures you don’t forget anything along the way.

Write Down Your Goals

Writing your goals down is another vital part of the process. Consider all the things you would like to achieve over the coming days, weeks, months and years, and you will have no problem staying on track. Create two lists if you would like to get the most from your effort. The first list should contain all the goals you would like to achieve within the next few weeks or months, and the second list contains your goals for the coming years and decades.

Your goals don’t have to stay the same for decades. If you learn new information or face unexpected issues, your long-term goals can change. Also, you could experience something that changes your mind about what you would like to achieve over the long run. The important part is having a solid starting point so that you know where to go and whether you are getting there.

Do your best to relate your short- and long-term goals. For example, if you would like to make a large purchase over the next several years, putting enough money to the side each month is a great short-term goal. Reaching your short-term goals gives you enough motivation to keep pushing yourself forward, and you won’t have trouble getting the outcome for which you have been hoping.

Consider Both Sides

If you want to achieve the most from your effort, look at both sides of the situation. Short-term satisfaction might be tempting, but it’s not as good as what you could achieve over the long run. Consider that many people get into active investing to make fast money, so they turn to short-term investments. Depending on where you are and what you would like to achieve, this might not be a bad choice.

But you should always take an objective look at both sides. Consider what you could gain by opting for long-term satisfaction instead of short-term gain, and you will be glad you did. Waiting for the long-term reward is not always easy. But you get a much greater benefit if you do it.

The path you take depends on your resources and why you got into investing in the first place. In some cases, you can take and enjoy both paths. Make several investments that pay off quickly, but you can also make at least one long-term investment that grows over the years.

Start Small if You Must

If you are just now learning about these concepts, setting long-term goals is not going to be easy. The way you act and behave conditions your brain. Consider someone who gets up every morning at 5:00 a.m. If that person gets a new job and no longer must get up that early, they still wake up at 5:00 a.m. even without an alarm.

If you spend a long time focused on short-term gratification, you must train your brain to look at the long term. Begin by slowly transitioning your mindset toward the long run, and you will get there without too many problems.

Look Toward the Future

Looking toward the future is critical if you would like to achieve the outcome for which you have been looking. Imagine you are several years in the future. How will that future look if you don’t work toward your long-term goals, and how will it look if you do work toward them?

Looking at the future this way is a powerful step in the right direction. Many people view the future as so far away that they don’t believe it’s important. But your stance changes if you vividly imagine your future. You know you will get there one day, and you get the required motivation to make it happen.

Reward Yourself

Working all the time and never taking time off causes you to burn out. Many investors with an eye for the future dedicate too much time and attention to working all the time. This path might look appealing at first glance, but you can lose your motivation faster than you expect. Avoid that setback by rewarding yourself as often as you can. Your rewards don’t have to be big. Try doing one thing you enjoy each day, and you keep stress under control and maintain your motivation to keep moving forward.

Review Your Progress

If you are serious about sticking to your plan, don’t forget to track your progress. Depending on the size of your company, review your progress at least four times each year. Look at your plan to see if you are on track for reaching your short- and long-term goals. If you are not, see what you can do to catch up so that you don’t stay behind.

Checking your progress from time to time is a powerful way to ensure you don’t go too far off the path you selected. Noticing that you are not on track is not always enough to reach the outcome you want and deserve. If you would like to avoid similar problems in the future, ask yourself why you are not on track and what you can do about it. You can then make the required changes to prevent additional problems from taking place.

Active Investing: Congratulate Yourself

Each time you complete a difficult goal, remember to congratulate yourself on doing the job right. Take some time to appreciate the effort you put into your goals, and you will feel much better about your journey. Depending on what you have achieved, reward yourself with a nice dinner or a vacation.

If you closed a major deal, buy yourself a new vehicle or home. Congratulating yourself is the smart way to maintain your motivation and remember how much progress you have been making. No matter what you would like to achieve, you take your results to a new level before you know it. The right approach gives you a great combination of short-term reward and long-term satisfaction.

Tracking your results ensures you are on track and that you don’t fall behind, giving you peace of mind. Review your progress so that you don’t make too many mistakes along the way, and you will be glad you did. Making the transition in your mind might not be easy when you begin.

Although you might have trouble getting started, things get easier when you gain traction. You will make your life much better and take your profit to where you have always wanted it.

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The Wealthy Mind vs. The Poor Mind

I think that it goes without saying, that when all else is equal, you would much rather be wealthy than be poor. With wealth comes comfort, confidence and self-discovery, knowing that your basic living essentials are taken care of. Psychologist Abraham Maslow recognized that humans have a basic “hierarchy of needs” and before our higher needs (like self-actualization) can be realized, we need to at least satisfy the very basics and then work our way up to the top.

As has become painfully obvious to many of us, “becoming wealthy” isn’t as simple as pushing a magic button. Many times we catch ourselves caught on the hamster wheel or stuck in the golden handcuffs, and true wealth can feel as if it’s beyond our ability to obtain. However, although building wealth is something that takes time and effort (unless you hit the lottery or inherit a large sum from a Nigerian prince), it is attainable for those of us that can stay focused and invest wisely.

When you study the people who have become wealthy on their own, there are a few basic patterns that become apparent. More than having any particular skillset or working in any particular industry, what is perhaps the most important commonality among these individuals is their mindset.

The willingness to work hard is step one, but it will only get you so far, and there is only so much time in a day. Rather than simply working harder, or for longer, it is of the utmost importance to understand that truly wealthy people think differently than those in the middle class or below. They think differently about money, about wealth, about people, and about themselves. One specific way the wealthy mind thinks differently is avoidance of the scarcity mindset.

Please take note that I have intentionally used the word “wealthy” rather than “rich.” In a separate article, I’ll discuss the difference in detail, but for now, just know that “rich” people make a lot of money, but they also spend a lot of money. They might be the people you see buying a new 5 Series every two years (or it’s probably on lease). They keep buying a bigger house to keep up with the Jones’. They are probably your neighbors. They are probably you. On the other hand, “wealthy” people accumulate assets, create multiple income streams, make money in their sleep, buy back their time, and are financially free, such that they are not living paycheck to paycheck, and the money they make is not directly tied to the money they make.

The “Scarcity Mindset”

Wealthy people do not have a “scarcity mindset.” Poor people do.

When resources are scarce, we tend to make irrational, short-term decisions. In fact, as Andrew Yang points out in his influential book The War on Normal People, when an individual is exposed to conditions of scarcity, this individual—the very same individual—will make decisions as if their IQ is several points lower.

The scarcity mindset is one in which we fear we do not have enough to make it very far. It’s a mindset in which we sacrifice long-term growth for short-term security. When we are living with a scarcity mindset, we make decisions for today without thinking about tomorrow.

The scarcity mindset causes us to eschew long-term, beneficial opportunities. When we are in this mindset, we avoid risk, commitment, discomfort and anything unfamiliar. We are trapped in traditional thinking, trapped by the media and trapped by that little voice in our head telling us “danger” and “no.”

Of course, I am not suggesting that you should always take risks or the dangerous path, actually quite the opposite. What I am suggesting is that you need to open up your mind to abundance. Open up your mind to wealth and to being financially free. Then figure out how to get there. It will take some risk, but nothing risker than what you’re already doing. Are you working 9 to 5 until you’re 65 with a single income stream that can be taken away on a whim? Now that’s risk.

Playing to Win Versus Playing Not to Lose

Wealthy people play to win. Poor people play not to lose.

The book Rich Dad, Poor Dad is a must-read for anyone interested in personal finance. Among the many topics the book’s author, Robert Kiyosaki, discusses is the difference between having a “rich” mindset and having a “poor” mindset. Conclusively, the most striking difference between these mindsets is that while the wealthy are actively playing to win, the poor are playing not to lose.

In essence, the mindset of the poor is to manage finances defensively, continually doing whatever is necessary to pay the bills. You work to pay the bills. You put in more time, and you get more money. Then you get more bills, and the golden handcuffs take hold. On the other hand, the mindset of the wealthy has the capacity to look beyond the bills and to develop a more comprehensive and offensive approach to finances. In other words, making your money work for you, rather than the other way around.

Overcoming financial scarcity and attacking the money game to win is without a doubt quite challenging. In order to win, you have to be mindful and diligent. For instance, one common way to lose the money game is when your income does increase, they do not commit to intelligent investments that will appreciate over time and spin off cash flow, but instead succumb to lifestyle inflation, otherwise known as the golden handcuffs. They “invest” in liabilities like shiny new cars and big personal residences. Sure, they look great and makes you look rich, but do they produce cash flow?
A person with a wealthy mindset will, instead, invest the increased income into something that produces more money through cash flow and appreciation. Maybe they won’t have the new 5-Series sitting in their rich neighbors’ driveway, which will make them appear less wealthy on the surface. But the wealthy mind will be able to take time off (or not work at all), go on long vacations, spend time with their families, come and go as they please and live their lives free from the shackles of the office.

Sustaining the Mindset

Overcoming the scarcity mindset is far from easy. Creating financial freedom is typically not easy. These things require change and there are many changing things—our job prospects, the economy, emergencies—that remain beyond our ability to control.

But what does remain within our ability to control is our mindset. With a wealthy mindset, each dollar that we earn can be multiplied into many more. Instead of earning one dollar, having the government take 30 cents, and spending the other 70 cents, a wealthy mind figures out a way to earn that same dollar, but pay the government less and invest the rest into intelligent investments that will create additional income, multiply wealth, and buy back time. Financial progress becomes immediately possible because everything we earn can help move us in a positive direction.

Wealth is not something that can be immediately created, but it is something we can diligently work towards. If we can change our mindset and our approach to personal finance, each seemingly small step we take can have a bigger and bigger impact. Simply by living smarter, meaning with a wealthy mindset, we can make wealth not only possible, but certain, and not only attainable, but achieved. I am truly looking forward to helping you on your personal journey to wealth.

 

Seth Bradley is real estate entrepreneur and an expert at creating passive income while still working as a highly paid professional. He’s closed billions of dollars in real estate transactions as a real estate attorney, investor and broker. He’s the managing partner of Law Capital Partners, a private equity firm focused on multifamily and opportunistic acquisitions. He’s a former big law attorney and is now the managing partner of his own firm, Bradley Law Limited, helping his clients with their real estate and asset protection needs. He’s also the host of the Passive Income Attorney Podcast, educating attorneys and other professionals on how to stop trading their time for money so that they can practice when they want to, not because they have to.
Get started building a future full of freedom at passiveincomeattorney.com.

 

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How to Grow Your Business Using TikTok

How Antonio Cucciniello Found Success Marketing On TikTok

The social media sphere is a hotspot for entertainment, community, and collaboration. Best of all, these platforms offer opportunities to expand your reach, market yourself, and promote your business. Antonio Cucciniello, a real estate investor, is proof that present-day websites and modern applications are practical advertising tools. TikTok, specifically, has allowed Cucciniello to gain new clients and investors.

Much like any functioning member of society, Cucciniello is no stranger to social media. For years, Cucciniello posted videos to YouTube. After four years and 500 videos, he only amassed 300 subscribers. Meanwhile, his Instagram following was lagging, which proved detrimental to his active and commercial real estate investing efforts. Eventually, Cucciniello discovered the power of TikTok.

In the hopes of advancing his career, Cucciniello hopped on the bandwagon. He got his first taste of social media success after publishing a TikTok video. Within one day, Cucciniello’s TikTok post received 52 views, and he gained 150 followers by the end of the week. Before long, Cucciniello went viral, earning 130,000 views on a video that poked fun at terrible tenants. Since his partial claim to fame, Cucciniello’s devised a sound strategy on how to market on TikTok.

In his experience, Cucciniello’s found that instructional videos typically gain the most traction. Whether you’re discussing how to scale a business or change a tire, Cucciniello maintains that audiences love to learn. He then goes live to talk more in-depth about the content. To increase consumer engagement, he welcomes questions. According to Cucciniello, being controversial is one surefire way to go viral. However, he usually sticks to humor, dancing, and general amusement to appeal to audiences.

Cucciniello is far from the first to unlock TikTok’s marketing potential. In fact, many are gravitating to this platform in an effort to gain more exposure. As a result, industry experts are providing insight on how to scale a business on TikTok. By heeding the following advice, you can reap the benefits of TikTok’s massive following and ever-expanding platform.

How To Market On TikTok

Know What You’re Working With

Arming yourself with pertinent information is a crucial first step. After all, to get the most out of the platform you’re using, it’s critical to learn, analyze, and monitor it. For instance, watch videos that are circulating the platform, note similarities between them, and develop ways to apply this knowledge to your specific content.

Don’t Overthink It

While it’s important to be deliberate in your approach, don’t give entertainment the back seat. In other words, infuse some fun into your content. Even if you’re talking about active real estate investing, you can find ways to inject lightheartedness into your videos. In essence, if you find a happy medium between informative and entertaining, you’re bound to reel in a wide audience.

Work With Other Influencers

On TikTok, there’s strength in numbers. Find someone who’s on your same playing field, and collaborate. Studies show that traditional marketing doesn’t interest Generation Z. With that said, you have to think outside the box. By partnering with other influencers, you can subliminally market your platforms while giving viewers the engaging content they desperately desire. Not only will you be able to reach a dynamic viewership, but you’ll also start making beneficial connections.

Look Into TikTok Advertising

As a powerhouse in the social media realm, TikTok’s introduced unique campaign strategies to its platform. Native content, brand takeovers, hashtag challenges, and branded lenses are the marketing resources they’ve created. Each offers its own perks, so you’ll need to gauge which option is best for your business. No matter what you decide, TikTok’s taken a calculated approach to ensure that your marketing methods breed some results.

Stay True To Yourself

Above all else, don’t attempt to be someone you’re not. While it’s prudent to emulate a person’s recipe for success, recycling someone else’s content won’t prove effective. Instead, highlight the qualities and strengths that set you apart. Most importantly, don’t shy away from topics that interest you. Even if you think that commercial real estate investing won’t attract viewers, you’d be surprised how many niche communities there are on TikTok. Simply put, don’t stray too far from your roots, and you’ll inevitably succeed.

Using the above story and advice as inspiration, you can effortlessly grow your business on TikTok. Whether you’re into active real estate investing or tree shaping, there’s a place for all on TikTok’s inclusive platform. Build your brand with confidence and ease when you start your TikTok journey today.

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Beyond the Comfort Zone

Stephane Rochet shares how making a plan for success also means creating a plan to push your own boundaries

In the early 2000s, Stephane Rochet worked as a police officer in his community. During his shifts and interactions with his fellow officers, he noticed many of them were often discussing their real estate investments and what was happening in the world of “alternate investments.” After leaving the police force in 2007, he still recalls that environment as the place where he first learned about the potential of real estate investing.

“It was just a realization that the traditional stocks, bonds, put money into your 401(k) and hope for the best, wasn’t working for me,” remembers Stephane. “So, I started to look for other alternatives, and that’s where it started me [into real estate investing], and then the journey continues.”

Stephane moved with his wife and two children to San Diego, California, to pursue a career in the field of athletic performance, specifically around the strength and conditioning of athletes. He also started investing in single-family houses, kickstarting what would become a very active interest in multifamily syndication and the alternate investments he used to hear so much about.

To grow, Stephane began to seek networking opportunities to build relationships and connections with like-minded investors. After several lackluster experiences with local meetups, Stephane realized that the Best Ever Conference presented serious options for personal growth and learning opportunities.

“I made three simple goals. I’m a little bit of an introvert, so going to this, I said, ‘Hey, look, you have to get out of your comfort zone and meet people.’ There were a few people that I had met with or talk to, or emailed or Facebooked before going, and I said, “Well when I’m there, I’m going to actually meet them in person and talk to them.” remembers Stephane. “I had a list of about four names of people who I had contacted previously, had been in touch with, and I sought them out, met them, we had discussions, and they introduced me to other people.”

Meeting people beyond Stephane’s known network was the ultimate goal. He found it easy to achieve, given the conference’s tools, to connect with attendees and plan your experience before arriving on-site.

“I was just determined to meet five new people every day, and that was easy because you had presenters. You’d go sit in a room with presenters, and you just talked to the people beside you while you’re waiting,” said Stephane. “Because I’m new and learning, I wanted to make sure to take advantage of the presenters that were there, so I looked at the schedule beforehand and set out my schedule and made sure I got to see all the presenters that I was interested in.”

As with most conferences, the real test is what you’re able to do with the knowledge you gained once you arrived home. For Stephane, it was not only useful but remained to be empowering on his real estate journey.

“I don’t know if I really realized it until I was on the flight home, but I just felt really excited and a lot more confidence that A, we could do this thing, B, we were on the right track, and C, you didn’t need to be, especially gifted,” said Stephane. “I mean, obviously, you have to get the knowledge, and you have to have some skills, but there were so many regular people just like me out there that were plugging away and doing the same thing.”

In the landscape of COVID-19, Stephane believes that the environment of meaningful relationships and networking comes slightly more complicated. However, not all things have to get harder. In fact, it’s Stephane’s philosophy on real estate investing as a whole that truly relies on keeping things simple.

“It’s so easy to get into the weeds, but an investor doesn’t really care about that, especially on the first call or anything,” said Stephane. “Just remember to keep it a simple, broad picture, and explain things in a way that people can just grasp it and understand why it’s a good investment or why it’s a good path to follow.”

This year at the Best Ever Conference, taking place February 18-20th, there is a full day dedicated to networking. Start networking now and use code WINNERS30 for 30% off your ticket! Register here.

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Networking in 2021

As any real estate investing pro can attest, networking is an irreplaceable factor in the success of active and passive investors. In a world catapulted into the virtual space during 2020, many investors have struggled to find how to network impactfully.

With meet-up groups delayed and in-person meetings on hold, the virtual space is now the only space to network. While many are postponing conferences, some are taking advantage of the opportunity to join in on virtual networking from right where they are.

A previous conference attendee said, “This is the lowest barrier to entry because you don’t have to leave your living room. You don’t have to buy a plane ticket. So if you’re thinking about going, you really don’t have an excuse.”

The goal of our virtual Best Ever Conference is to provide maximum value to each attendee in both insights and networking opportunities. The conference is filled with speakers and content focused on our audience’s curated needs and interests. We have a whole day set aside for networking and we strongly encourage you to take advantage of our exceptional platform that makes virtual networking easy. Some of the ways you can connect:

• Set 1-on-1 Meetings with Other Attendees
• Join Q&A Rooms for the Latest Topics
• Enter the Networking Lounge with Custom Table Topics
• Speed Networking to Make as Many Connections as Possible
• Playback Any Keynote Speaker on Demand

Our platform is open to attendees NOW. Start your networking. Use code WINNERS30 for 30% off your ticket! Register here.

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To Create Something Meaningful

How artist-at-heart Marc Cortez evolved his technology and media business success into a passive investment career

Creativity and connection fueled the early stages of Marc Cortez’s career. He thrived in competitive, start-up environments where the stakes were high, but the growth opportunities were endless. After building thriving social presences for some of the world’s biggest brands, Marc evolved his business savvy into advising budding entrepreneurs to raise capital and develop their business plans. It didn’t take Marc long to start formulating business plans of his very own.

Almost ten years and several successful ventures later, Marc finds himself exclusively in the investor seat at his firm Cortez Holdings Group. The creation of this investment group was made possible by the successes achieved in his earlier career.

“I’m an artist at heart, but my passion for real estate was inspired by the freedom I can create in my life,” said Marc. “Professionally, I spent the last ten years in tech and media turning big wins into passive investments by way of syndications. I’m consistently pursuing ways to grow my portfolio and increase my cash flow.”

Growing his portfolio and increasing cash flow has been significantly impacted through attending conferences like the Best Ever Conference. A long-time attendee, Marc began attending as a volunteer to help a friend. What started as a simple act of friendship turned into a consistent presence each year, where Marc now ushers VIP guests throughout the event.

Beyond simply attending the event, Marc’s most memorable takeaway is essential for investors of all skill levels to keep in mind.

“Make one really good friend. It’s easy to run around dropping ‘cards’ off and playing the quantity over quality game. But one incredible connection can open up an entire world,” said Marc. “I’ve seen deals and business partnerships sprout and excel from these relationships. So build a healthy connection with at least one person and be amazed at the future potential.”

Personal connections have changed the way that Marc views his personal investments, finding that the personal element often helps propel deals far faster than they would otherwise go.

“Discussing a potential sponsor with people in the same sphere or community also helps with diligence. It’s easier to get a recommendation or review,” shared Marc.

Understanding another key component of relationships is critical in bringing value to investments: how people handle adversity.

“I have a longstanding relationship with the partners [at an investment group], and I trust that my best interest as an investor is a priority, but even more so that a great relationship is a priority,” said Marc. “I can recall countless examples of how they’ve supported me inside the investment and out.”

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Living Life Fully

Dave Allred discusses what it looks like to define a path for success while making the most of each moment along the way

Discussing finances was something that wasn’t done in Dave Allred’s family growing up. Having never had those critical conversations around money or money management, Dave realized in his early adult life that he wanted more for himself around financial understanding and financial freedom.

At age 21, he committed to becoming a lifelong student of finances and investing. While he actively continues pursuing knowledge and personal development today, he credits much of his success, both personally and professionally, to that commitment very early in his life.

“I think it’s really important in our personal development is that we’re always teachable and coachable,” shared Dave. “That’s just been a guiding principle of mine is to always be a lifelong student. Not only in finances but also in real estate, personal development with my own family.”

While networking may be a topic that can make some uncomfortable, Dave rethinks networking as truly prioritizing relationships. It’s authenticity and relevancy that distinguishes the development of relationships from mere networking, which Dave believes can often come across as “gimmicky” or forced in certain situations.

“I feel like relationships are the new currency in business. My best deals, the business that I’m most proud of, has actually been with my friends, with my network,” shared Dave. “They’re people that I trust and that we have similar interests; we’re on the same mission in life.”

Relationship building has never been more critical than in our current environment, where how those relationships are built has had to be rethought due to the ongoing COVID-19 pandemic. While conferences like Best Ever Conference are transitioning to a virtual platform to foster a sense of community and connection, Dave believes that meaningful relationships can continue to form beyond these virtual events.

“The power of social media and staying connected through Facebook groups, my Instagram page allows me to put a lot of content out there just to keep adding value for others. I follow on Instagram a lot of the people that I really respect,” said Dave. “While that’s not as personal as meeting in-person or on a call, I feel like we can still stay very connected, know what we’re working on, what we’re up to. I’m inspired by a lot of others in the space through social media. It’s a very powerful tool to be able to still communicate, add value for each other, and really collaborate.

Beyond a continuous drive to learn also lives a desire to document and measure success. Dave spent a significant amount of time creating his “lifestyle design”, or what he calls a blueprint for his own life. By documenting his core values, mission statement, non-negotiables, and more, he could use those as a foundation to build financial success on top.

“People overestimate what they can accomplish in one year, but they underestimate what they can accomplish in three to five years. I found that to be true over and over,” said Dave. “If we can get clear on what we really want in the long-term and have the right habits and behavior then we can actually accomplish amazing, significant things, but it takes time.”

Start your networking today at the Best Ever Conference, taking place February 18-20th. Use code WINNERS30 for 30% off your ticket! Register here.

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The Art of Doing

Rob Withers explains how the world around him inspires his philosophy behind real estate

Born and raised in Arizona, Rob Withers moved to Colorado for college and found his home. He spent a large bulk of his life fully engrossed in all the outdoor activities that Colorado has to offer. From mountain biking to hiking to skiing, Rob took advantage of being outdoors whenever he could. The only time that seemed not to be possible was when he worked as a technology consultant for more than 25 years but discovered real estate investing on the side.

Only a few years out of college in the 1990s, Rob invested in several single-family rental homes in Arizona and Colorado. The time commitment of his family and a full-time job at a multinational consulting firm kept him from fully investing his time to learn what was necessary to attain true success and the desired returns on his investments. Leaving the investing world feeling discouraged, another opportunity presented itself that changed how Rob invested both then and for his foreseeable future.

“Around 2010, a good friend of mine who was a realtor said to me, “Lakewood Housing Authority is selling off all this inventory, duplexes, single-family homes. The income’s great. You should really look at this. I know you dabbled in real estate a while ago.” And he had the contract to sell off 40 or 50 doors,” remembered Rob. “And so at the time I bought three duplexes, and the math was totally different than it was in the ’90s. Since then, I expanded buying more rentals and developed a partnership with a builder to build single-family homes and duplexes in Denver.”

The transition from single-family properties to duplexes opened Rob’s eyes to the multifamily syndication model. Rob bought and sold a 64 unit multi-family property in 2019. Over the last few years, he’s been transitioning more of his time, energy, and financial resources to diversify his investment portfolio and develop relationships in the real estate investing community.

Attending conferences like the Best Ever Conference in 2019 was an easy decision for Rob to make, given his close geographical proximity to Keystone. He was also inspired to lean into his desire to learn and do more within real estate.

“I was impressed with the quality of the people at the conference. Many have had successful careers and are learning the business” said Rob. “But then there are others that are a little bit more mature and have been around the block a bit longer but are still very approachable and still willing to discuss deals. I feel like I learned a lot and met great people.”

When thinking about the impact of what COVID-19 has on the reality of networking in 2021, Rob believes there are definite impacts for new relationship building, especially if real estate investing is not your primary occupation.

“For me personally, I still feel like there’s so much more I could do on the real estate side, simply around networking if I didn’t have the challenge of 40 to 50 hour a week job. So that does impact me,” reflects Rob. “But there are certainly tools that can help; I think a key for a conference where there’s a larger group setting is to create a form of engagement where there can be joint participation.”

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Eyes on the Skies

Lifelong pilot Tait Duryea shares how his passion for real estate soared after the Best Ever Conference experience.

An active lifestyle was always in the cards for Tait Duryea. Alongside his avid love of flying, Tait had always been intrigued by real estate investing. Not long after he started his career as a pilot, he purchased his first rental property in Las Vegas, Nevada at the age of 24.

“It was just a single-family house in Las Vegas. I put a property manager between me and the tenants, so they wouldn’t know how young I was,” remembered Tait. From that single-family home onward, he fell in and out of real estate investments without a particular strategy. Being newer to real estate, he discovered the Best Ever Conference taking place in Denver in 2019 and decided to take part.

“The catalyst for getting me more active with [real estate] was Best Ever Conference. It was the first conference that I had ever attended and it just catapulted my career from being someone who was new to the ropes from reading books and listening to podcasts, to being someone who did real estate and had a real estate network, because it’s all about relationships,” said Tait. “It launched my true real estate investing career, got me out of single-family [investments] and into commercial and syndication.”

Passive investments, like multi-family syndication, weren’t something that Tait was even aware existed prior to the Best Ever Conference. During the event in 2019, a mock debate whether active or passive investing was better took place, prompting some new thinking.

To many, the concept of networking can seem artificial, forced, or even trite. However, relationship building proved to be an essential element that Tait took from the Best Ever Conference, retaining relationships forged over that weekend into his real estate transactions today. The absolute, exponential power of relationships in the real estate investing business is something that Tait believes is worth experiencing and contributing to.

“Just having a network of like-minded real estate investors who you know personally and that your friends with is rocket fuel,” said Tait. “And unless you’ve been to a conference and you start talking with other people who are doing things like you are and have ideas and contacts and people that can help in what you’re trying to do, it’ll change your investing career.”

Attending the Best Ever Conference ultimately changed how Tait invested, shifting 50% of his investment portfolio into finding, vetting, and investing in limited partnership syndication deals instead of all active investments in single and multi-family homes.

Tait believes there’s never been a better year to try it out.

“This is the lowest barrier to entry because you don’t have to leave your living room,” said Tait. “You don’t have to buy a plane ticket. So if you’re thinking about going, you really don’t have an excuse.”

Start your networking today at the Best Ever Conference, taking place February 18-20th. Use code WINNERS30 for 30% off your ticket! Register here.

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Top 6 Winter Hunting Trips

Are you looking for a new way to spend a little of your generational wealth? Have you considered winter hunting? The snow-capped scenery can be gorgeous, and the experience is often peaceful and reinvigorating. Plus, it’ll give you a respite from your passive investing and other wealth building activities.

Hunting can actually be easier in the winter. There are no mosquitoes, and you can walk across icy lakes and rivers instead of going all the way around. You can also follow animals’ footprints in the snow.

Below are some enchanting hunting destinations, places that make investing in winter gear well worth it.

1. Alaska: Black Bears and Lynxes

The lynx, a wild cat with a striking black tip on its tail, dwells in Alaska’s deep, pristine forests. In fact, it’s Alaska’s only native cat. The lynx is itself a hunter, favoring the snowshoe hare for its meals.

Around Anchorage, the lynx population has grown in recent years, and some residents have had close encounters with these beasts. In the state’s southeastern region, however, lynxes are still rare. Thus, that part of Alaska forbids lynx hunting.

Black bears are the smallest bears in North America, but they loom large in many hunters’ hearts. During the warmer months, these bears are active, often running around and sometimes climbing trees. In the winter, black bears typically rest inside caves and other enclosed spaces.

 

2. Montana: Elk and Mountain Lions

Often seen traveling in herds, Montana’s elk belong to a subspecies called Rocky Mountain elk. Their distinctive antlers are long and intricate.

Unfortunately, these elk have posed a threat to many farmers in recent years. Some elk have ruined crops and infected livestock with disease. Thus, hunters play an important role in controlling Montana’s elk population.

For their part, mountain lions mostly live in western Montana, a region that offers these solitary animals expansive forests. Mountain lions have soulful eyes and elegant bodies, but beware. They’re dangerous and best suited for experienced hunters. They frequently kill elk and deer, and they’ve been known to attack people on occasion.

 

3. Wyoming: Antelope

Wyoming has a wealth of antelope, more than any other U.S. state. The antelope there are pronghorns, animals you’ll only find in the western half of North America. They resemble deer, and they have horns rather than antlers. Pronghorns are tan with white patches.

In addition, Wyoming is a great hunting destination because, if you’d like, you can enjoy other winter sports while you’re there. The state’s skiing, ice climbing, and dog sledding opportunities are outstanding. After a visit, you might feel like buying some Wyoming real estate with your generational wealth!

 

4. North Dakota: Coyotes and Red Foxes

Almost anyplace you go in North Dakota, you’ll find coyotes nearby. And they’re particularly numerous in the southwestern part of the state. They live in forests, on prairies and hills, and sometimes near cities.

Coyotes are closely related to wolves, and they look like smaller versions of their wolf cousins. Indeed, a coyote has a pointed snout and a bushy tail.

Coyotes can be tricky to hunt because they’re so evasive; their sharp eyesight and sense of smell help them sense approaching danger. You might have more luck at night since these animals are nocturnal.

How does a fox hunt sound? North Dakota’s red foxes are large and attractive canines. They’re abundant throughout the state, but they really love hilly areas. In fact, they prefer making their homes on top of small hills. Red foxes usually live with a mate and raise one litter per year. They hunt alone, however, often feasting on rabbits, mice, and other small animals.

Red foxes don’t hibernate, so you’ll see them roaming around all winter. Like coyotes, they’re nocturnal, and they spend much of the night hunting.

 

5. Bison: North Dakota

North American Bison covered the Great Plains two hundred years ago. Once estimated at approximately 40 million, the North American bison was reduced to about 1,000 by 1890 for its hides and skins. Fortunately, thanks to American sportsman funding conservation efforts, these creatures have been restored in the North American ecosystem.

Bison hunts can vary greatly based on a hunter’s preferences. Are you wanting a trophy bull hunt or a young cow for more tender meat? Are you longing for a wilderness experience or a ranch style hunt? Are you using a modern rifle or traditional weapons such as bows?

After deep deliberation and no matter your selection, bison may be the perfect hunt for you this winter season.

 

6. Maine: Bobcats

For a special challenge, try hunting bobcats in Maine. They live in thickly forested areas, and they tend to isolate themselves. It can be easier to locate bobcats in the winter as the snow makes it harder for them to find food. As a result, they’ll venture a greater distance to get their meals, sometimes coming close to cities and suburban real estate.

Bobcats look a great deal like lynxes. They often have a wealth of dark spots or stripes along with a black-tipped tail.

Be aware that bobcats are hard to find in northwestern Maine. Therefore, it makes sense to avoid that part of the state during a bobcat hunt.

Finally, before hunting in a certain state, don’t forget about checking the local regulations and investing in the right licenses.

With the proper permits, you can savor an invigorating winter hunt, an icy adventure you’ll never forget. Indeed, being able to afford such an experience is a great reason to study passive investing and other wealth building strategies.

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Top 7 Productivity Tools for Syndicators

Top 7 Productivity Tools for Syndicators

If you are into real estate and want to boost your results to another level, consider using productivity tools to reach your goals. Productivity tools let you work much faster and reach the outcome for which you have been searching. If you don’t know what productivity tools are best for you, keep an eye on the latest trends. You should have no trouble uncovering a tool that works for your passive investing system.

 

Evernote

Evernote is a powerful resource for any real estate agent, and you will be happy when you see what it can do for you. You have several sections you can use to organize your notes and optimize your passive income. For example, you can keep your passive income plans in one section and your wealth building strategy in another. Evernote lets you add pictures to your notes so that you can bring your plans to life. Your passive investing plan goes to new heights when you use Evernote with your investing plan.

If the other benefits are not enough, consider that Evernote works well with a range of other apps. Evernote easily integrates with other productivity apps to give you even better results than you once thought. You can view and update your notes from a range of other tools, allowing you to work from any platform. One of the best features is document scanning. If you want to save a hard copy of your notes to Evernote, take a picture of them from your smartphone or another portable device. Evernote automatically saves your notes to your device for later viewing.

 

Google Tasks

Google Tasks is simple and straightforward when it comes to your wealth plan. With it, you create to-do lists and check them off as you complete them. You can update your list at any time and add more items if needed. Google Tasks connects to your Gmail so that you can add tasks as they come to you.

The simple layout makes it easy for anyone to use no matter their experience. You pin your tasks to your desktop to ensure you don’t forget anything during the day. In addition to working on your desktop, Google Tasks also works well from your smartphone or another portable device.

 

Calendly

Calendly is a fantastic scheduling tool that lets you schedule meetings, events and appointments with ease. This tool lets you set up meetings with your clients or your team when you want to reach the goal you had in mind. Your wealth building plan works well when you schedule with confidence.

This application works with up to seven calendar tools to ensure you get appointment reminders and other alerts that keep you focused and on track. Calendly makes it simple for you to boost your passive investor strategy. You can set up appointments and let it take care of the rest, and you will be happy with the outcome you get.

 

Trello

As far as many people are concerned, Trello is one of the top passive investor platforms you could hope to find. It lets you set up tasks and schedule appointments without much trouble, making your life easier than ever before with a few clicks of the mouse.

Trello lets you stay on track with rule-based triggers and workflow automation tools that do the job right the first time, and you will be pleased with the outcome. You add tasks to your calendar and update your appointments with peace of mind. Trello works wonders for your wealth building system. Watch your profits rise to the next level when you use this tool to keep your company on the path to success.

 

MeisterTask

MeisterTask is a task management platform with plenty of extra features. With MeisterTask, you manage your appointments and other business tasks without the hassle. You can even set up recurring tasks so that you don’t have to keep implementing tasks you do all the time. Some task management platforms don’t carry over to other devices, making it hard to work when you are away from your computer.

MeisterTask defeats that issue and lets you work from almost any device. You get trusted cloud services that store your tasks on a remote server. This lets you access your tasks from any location. MeisterTask lets your team collaborate from different locations so that they complete tasks with minimal disruption.

 

Expensify

Expensify is a tool you use to track your expenses. Use it to track the things you buy online and in person, and you will be glad you did. From the mobile application, take a picture of your recipes to load them to Expensify. You can then create expense reports and track your deductions.

Expensify is a great platform for businesses of all sizes, but it’s even better for small businesses that don’t have the budget for more expensive software. If you run a small business, Expensify has everything you need to manage your business without much trouble. You get the tools you need without breaking your budget along the way.

 

Zapier

Zapier is the next tool you are going to explore. Its simple interface works well and takes your productivity to a whole new level. When you use Zapier, you connect it to other applications for the best results. You set triggers that automatically load Zapier and perform the tasks you have in mind. For example, set it to load when you get important emails or text messages, and you ensure you never miss an important task.

 

Final Thoughts

If you have an investing plan and want to get the most from your real estate business, it’s critical you follow the correct path. You also need productivity tools that do the job and make sense for your bottom line, and you will be pleased with the outcome when you see the results you get.

Productivity tools keep your projects organized and make sure you don’t face unnecessary problems along the way. Review these tools with your needs in mind for the best results possible, and you will be glad you did. You enhance your wealth and earn the outcome you had in mind, and you will know you made a wise investment.

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Tips for setting goals as passive investors

Passive investing is a strategy that’s designed for the clear purpose of maximizing the returns that you obtain by effectively minimizing any buying and selling. In many situations, passive investments are considered to be long-term investments that you hold for a lengthy period of time before selling. For instance, it’s possible for a passive investor to make investments in art pieces.

No matter the strategy you use for making passive investments, it’s important to set goals that will guide your decision-making in the months and years to come. However, setting goals with this form of investing can be tricky when the returns are difficult to calculate. This guide offers some tips on how you can properly set goals when utilizing passive investments.

What Is Passive Investing?

This is a portfolio strategy that centers around buying and holding investments until they have appreciated in value. Because of its flexibility, there are many types of investments that can be made with this strategy. It’s common for investments to be held onto for a very long time. Keep in mind that this type of strategy hardly uses any market trading.

Likely the most common type of this investment is index investing, which centers around replicating and holding a market index or indices. The primary benefits of using this investment strategy is that it’s considerably less expensive and less complicated when compared to an active investment strategy. Additional benefits associated with passive investments include:

  • Very low fees because of much less oversight
  • Your capital gains tax should be low each year
  • It’s far easier to create an effective strategy with these investments when compared to active investments
  • Can help you diversify your portfolio

How to Properly Set Goals As a Passive Investor

When you want to make passive investments, it’s important that you understand how to properly set goals for your portfolio. If your expectations are unrealistic, you could be disappointed in the returns on your investments. While the returns that come with passive investments aren’t exceedingly high, they can help you bring in passive income and increase your wealth. Before you start implementing a passive investment strategy, take a look at the following tips that can help you along the way.

Make Sure That You Set Modest Investment Return Goals

When you engage in passive investing, your main goal should be to obtain modest investment returns. In fact, you should rarely expect to get high returns that beat the market. While this form of investment comes with much less risk than the majority of active investments, it’s important to understand that the returns are generally random. Even though the returns for passive property investments are somewhat predictable, not all passive opportunities can be calculated beforehand. If you set modest investment return goals, you’re portfolio should be able to withstand a slightly worse return than you expected.

Use the Right Strategy

There are many different types of passive income investments that you can make, the primary of which include real estate, dividend stocks, index funds, and peer-to-peer lending. The strategy that you choose depends largely on your preference and your knowledge of the investment in question. Real estate investments are very popular because of the ongoing rise in property values that has occurred in most locations over the past 10 years. If you want to obtain long-term returns that you can count on, this shouldn’t be a bad investment.

If you invest your money into real estate for the purpose of bringing in passive income, you can gain ongoing income source from rental properties. You could also invest in REITs, which are designed to pay out around 90 percent of taxable income to investors as dividends. Crowdfunding is another great option that gives you the full tax benefits of being a property owner.

If you’re not interested in making investments in properties, you could look into dividend stocks, which are an easy way to generate income. When public companies earn profits, these profits are sent to investors as dividends. You could then choose to purchase additional shares with dividends or cash out. Keep in mind that the yields that can be obtained with dividend stocks vary with each company. Consider searching for companies that are classified as dividend aristocrats, which indicates that significant dividends have been paid out for at least 25 years.

As touched upon previously, among the more popular types of passive investments are index funds, which are mutual funds that are linked to a market index. Index funds are passively managed and won’t change significantly unless the underlying structure of the index changes. Management costs are very low with index funds. The fourth type of passive investment strategy that you should consider is peer-to-peer lending, which is also known as crowdfunding. Currently, crowdfunding is highly popular and is used for everything from buying properties to funding different types of loans.

Crowdfunding involves numerous investors lending money to a business entity or person via an online platform that connects the borrowers and lenders. These platforms include Lending Club and Prosper. Aside from funding the actual loan, you aren’t required to do much in regards to managing the fund. You can expect a return that ranges from 6-12 percent when making crowdfunding investments, which can help you with your wealth building efforts.

Each of the four aforementioned strategies has its own positives and negatives that you will need to take into account. With the right approach, all four options can provide you with sizable returns that you can use to increase your wealth or to open up additional investment opportunities. The goals that you make can be dictated by the strategy you choose.

Identify How Much Money You Should Save

Whether you want to make passive investments to bolster your wealth building efforts or to increase the amount of money that you have for retirement, it’s important that you set a goal for the total amount of money that you want to earn and save from your investments. When saving for retirement, it’s recommended that you set aside enough money to cover 70-85 percent of the income that you bring in before retirement.

If you want to travel the world upon retirement or invest in a new hobby, your savings may need to be even higher. Other investment firms recommend that you save around 10 times the amount of income you generate in a single year by the time that you turn 67. If you earn $100,000 per year, this means that you should have around $1 million in savings by the time that you’re 67. Once you know how much you want to save, you will have a better idea of what your goals should be.

Know How to Overcome Investment Hurdles

There will always be hurdles and challenges that you will be required to overcome when making passive investments. If you want to reach the goals that you set for your investments, it’s important that you know how to overcome any challenges that you face. Even though passive investments are less risky than active ones, it’s still possible to lose money on your investments. Keep in mind that this type of investment is meant to be a long-term strategy, which means that you will want to sell your investments when they have reached an acceptable value that will allow you to generate a sizable return.

Along the way, you may notice that the investment dips in value at one time or another. Some investors will panic in these situations and choose to sell, which is typically a bad idea. Passive investments aren’t meant to fluctuate substantially in value, which is why you should be patient while awaiting favorable returns. The key to a successful investment is to react to volatility in the markets with a calm and measured approach.

Set a Clear Timeline With Each Investment

It’s highly recommended that you set a clear timeline with the goals that you have for each investment. If you want to net a return of 10 percent after 10 years of holding an investment, you should stick close to the timeline that you’ve set. By creating a clear timeline, it should be easier for you to avoid selling too early or to hold on too long while you await higher returns. Keep in mind that the right passive investments can be held until well after retirement age. If you set these timelines as early in your life as possible, it’s more likely that you will earn enough income to reach your goals.

If you want to be a successful investor, making passive investments is a great way to diversify your portfolio. Most of these investments are simple and easy to manage, which helps to reduce overall risk. Though goals aren’t always easy to define with passive investments, setting some basic ones should help you avoid making costly mistakes when you invest your money. With patience, the income that you generate could be higher than anticipated.

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Building a wine collection

Do you remember the circumstances that surrounded your becoming an oenophile? Perhaps it was while drinking a glass at a riverside restaurant amidst a jovial or relaxed atmosphere. Or maybe it was more of a gradual occurrence; one day, you realized just how interested you are in it. Regardless of how it came about, thoughts of building a wine collection have likely now come to mind. Should you do it? If you love it and love learning about it, that is reason enough, and your next step should be focused on learning how to do so. With that said, you could also take into account that this can serve as an investment opportunity as well.

Should you build a cellar?

Storing a selection of wines in a cellar is a commonly used option. Building one is also a great way to utilize the benefits of generational wealth or wealth attained via passive investing or other types of investing. Doing so will allow you easy access to your collection for those times when you want to be able to bring one or more bottles up for a gathering, for personal use or for other reasons. A cellar can also serve as an interesting stop on a house tour.

However, a significant amount of planning should go into this process to ensure that your wines are being kept at an optimal temperature and in otherwise optimal conditions for the years that they will likely be there.

You should ensure that your cellar is kept between 50-60 degrees, as close to 55 as possible, and that the temperature does not vary much. If it must be warmer than that temperature range, note that anything about 68 degrees is likely going to cause a considerable increase in the aging process and may even cook your bottles’ contents, so to speak, resulting in flatter flavors and aromas than had been intended. Regardless of what the temperature is in there, keeping it from fluctuating should remain a focus.

Also, it should be between 65-75% relative humidity in your storage facility so that your corks do not deteriorate. For example, too little humidity can lead to a cork drying out and oxygen passing through the now-brittle cork and into the bottle, which would, in most cases, result in its contents oxidizing or otherwise spoiling.

Light must also be kept away from your collection as it has been shown to adversely affect flavors due to light-induced premature aging. This light-avoidance focus is also why many bottles come in green or brown colors.

Ensuring that your bottles do not experience more than minimal vibration is important as well. This is because this act breaks up chemical bonds within the substance. It is understandable and expected that vibrations will be experienced during transport, but once your bottles are settled in your cellar or elsewhere, they should be kept in a non-vibrating environment so that those bonds are not continuously breaking apart and reattaching.

Other storage options to consider

Another option to consider is a wine refrigerator. This is often preferred by those who want to build a collection but do not wish to create or use the space necessary for a cellar. Note that this type of refrigerator offers benefits specific to its intended purpose, such as doors that block out light, an ideal temperature setting and a locked door to keep heat variations and vibrations to a minimum. However, many believe that this is not the best option if you are looking to store bottles for a considerable amount of time – i.e. years.

Conversely, you could use the services of a storage facility that is dedicated to keeping bottles in the conditions that will allow them to age as intended for extended periods of time and with no further effort necessary on your part. This is a great option if you want to solely focus on building a collection without actually storing it yourself. However, one con to consider is that access will not be as easy as going downstairs to your cellar to pick up a bottle.

Building your collection

A couple of the most important aspects related to building your collection are your own knowledge and what interests you. Regardless of how much wealth you have, you want to ensure that what you are purchasing is being bought at a fair price and that it coincides with the types of wines that you want to collect. If necessary, consider paying for the services of a personal buyer or consultant.

You should also consider which wines go well with foods that you tend to eat, and buy more of the types that you are apt to consume in general as well.

Deciding on your budget is another important step in this process, and it can vary significantly. If you purchase bottles that have already aged as intended for years or decades, you will be spending considerably more than if you are instead focusing on newer bottles with an intent to age them yourself. In fact, some aged bottles sell for hundreds of thousands of dollars.

When you make any purchases, ensure that you or someone you trust can effectively assess the trustworthiness of the seller or the auction house that is providing the wines. Most important is making sure that you avoid unintentionally buying counterfeit versions. As far as research goes, also consider information such as a winery’s history, ideology and wine-making processes.

Once you start to build your collection, you should keep records of exactly what you have and where it is being stored. You want to be able to quickly get to what you need when the time comes, and you want to know when the best time to open a bottle is. Also make sure to store items such as receipts, seller details, auction catalogs and pictures of the bottles upon purchase. Note that many of these records are essential to selling any bottles in your collection for the highest price possible.

You should also strongly consider getting insurance that covers bottles’ shipping and things such as breakage and theft that could occur while it is being stored.

Regardless, you should make sure that your collection matches your interests and personality. It is a reflection of you. The only exception to this general rule occurs if you are purchasing various wines with the sole focus of engaging in wealth building as a result of doing that and selling them on at a later time, hopefully for a profit. Of course, you could always incorporate a combination of these factors and build a collection that both interests you and will, you believe, turn a profit.

Investing and other considerations

Although investing in a collection can result in a considerable profit, you should keep in mind that this is one of the least predictable ways to engage in wealth building. That is one of the reasons why you may want to have your collection assessed and appraised on a frequent basis, to keep up to date on the value of it and if you are earning or losing money as a result of the latest trends related to what is in your collection.

Due to these factors, most believe that you should have a passion for wine and be willing to lose any money that you have put into it. Diversifying your collection is one way that you could limit any monetary damage that may result.

With that said, also consider some other potential benefits that come with building a collection.

As you attend wine-related events, take part in auctions and do the research necessary to smartly purchase rare wines, you will be interacting with others who share your interests, and those connections will not only improve your knowledge of various types of wines, but they may bring you connections that could ultimately prove to be monetarily beneficial.

Also, a cellar has the potential for benefits related to real estate. A well built and maintained one can significantly improve the real estate value of a home, and a quality collection in that cellar, if you are willing to part with it, would cause that value to further increase a considerable amount.

Plus, note that this alternative way of engaging in passive investing could result in you passing on generational wealth in the form of bottles that may be of considerable value to future generations.

There are several reasons why you may want to start a collection. However, many believe that the best one is to create memories. Seeing one of your bottles may spark thoughts of where you were and what you were doing when you purchased it. The same is true of when you open it and consume it, if that is what you ultimately decide to do with it.

In fact, building a collection, particularly if its contents are especially personal to you, may end up becoming one of your favorite ways to use your wealth.

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How to Practice Your Golf Game During the Winter

When the days grow shorter and colder, you might really start to miss golfing. The sport offers fresh air, scenery, companionship, and fun. It can also improve your concentration and relieve negative stress. Indeed, for those with generational wealth and many others as well, it’s hard to imagine life without this genteel game.

Not to mention, golf can be handy in terms of growing wealth. After all, fairways are great places to network, discuss real estate, discover new passive investing ideas and other wealth building opportunities, and forge stronger relationships with partners, investors, and clients.

For many people, winter takes all of that away. Even worse, after a few months of not playing, you might find that your skills are rusty. And, if you perform poorly on the links come spring, you certainly won’t impress your fellow businesspeople.

Fortunately, there’s no reason to put those clubs away for the entire winter. Instead, if you give the following ideas a try, you can putt and swing away those cold-weather blues.

1. Take a Vacation

To start with, you could fly south, rent a car or hire a driver, and hit as many courses as possible during your trip. You might turn this vacation into a multistate adventure as you visit courses you’ve long dreamed of playing. And all of that sunshine will be rejuvenating.

If you have enough time, you might attend a camp or school in Florida, Southern California, Hawaii, or another exciting destination. It could last a few days or even longer. If you go to a camp with a great reputation, you’ll receive a wealth of useful tips and lots of personal attention. Plus, you can make new friends among your fellow enthusiasts.

Indeed, there are camps for every level of player. Beginners can work on the basics, while advanced golfers can refine their skills to gain an extra competitive edge.

2. Just Keep Swinging

If you don’t own a weighted golf club, you might pick one up or ask for one as a holiday present. You can use it to practice your swing for about three to five minutes per day — or longer if you prefer — in your gym, home gym, or garage. On warmer winter days, you can do this exercise in your yard. It will keep your swing sharp while maintaining your arm strength.

Of course, you’ll want to hit actual balls on occasion. To do so, head to the nearest indoor driving range whenever you have the free time. Indoor ranges offer various benefits. They’re quiet, warm, and private, with no wind or other distractions. You can also receive data and feedback from an instructor or a state-of-the-art software program.

In fact, you might enjoy your indoor driving range so much that you keep visiting it even when the weather gets warmer.

3. A Driving Range of Your Own

Have you ever thought about building an outdoor driving range? It might be ideal for those less frigid winter days. Naturally, this solution works better in places with milder climates. If you live in, say, northern Maine or northern Minnesota, it probably won’t be too helpful.

Obviously, you’ll need disposable income for this expensive setup as well as plenty of real estate, preferably a huge backyard with some woods behind it.

Creating a home driving range starts with investing in a large golfing net. You could position it behind your home, near the edge of your property. Then you could buy a mat with a tee. With these pieces of equipment in place, you can hit balls to your heart’s content on certain days.

Also, once your driving range is ready, you might find that your friends and neighbors start spending a lot more time at your house.

4. Get a Grip

You can use those winter months to work on your grip as well as your swing.

Maybe you’ve developed some bad gripping habits in recent years. Perhaps your hand positioning has always needed a little work. Well, there’s no shame in that! The coldest part of the year is the perfect time to correct this shortcoming.

You could work with a private instructor or a close friend with an excellent grip. Or you could rely on outstanding instructional videos online. Once you learn the right grips for different situations, you can grab a club whenever you have a spare moment and practice them. Soon enough, they’ll be second nature to you.

5. Don’t Forget to Putt

If you’re a typical golfer, more than 40 percent of your strokes are putts. Thus, although it’s easy to overlook putting at times, working on this complex and delicate skill can really improve your game. Fortunately, during the winter, it’s easier to practice your putts than your long drives.

How does investing in a putting mat sound? You could consult a professional or scan internet reviews to find a mat that’s high in quality.

You could lay your mat inside your home, anyplace where you have enough extra space. Then you could putt while you watch TV, talk on a speaker phone, or listen to a podcast. Your dog might even get a kick out of watching you practice. For sure, putting time can be enjoyable and relaxing.

If you’re ever in a pinch, you could do without the putting mat. For example, if you’re at a relative’s house or staying in a hotel, all you need is your club, a ball, a length of bare carpet, and a coffee mug turned onto its side, standing in for the hole. With those items, you can get in a little putting practice.

To make it even more fun, you could ask a family member or friend to join you. If you keep score, the competition could quickly become intense.

Note that indoor driving ranges often have putting greens you can use as well.

6. The Joy of Simulators

One of the most pleasurable ways to practice your game is to use a simulator. It’s like an advanced arcade game. If you’ve never tried one before, it works as follows: You stand on a piece of artificial grass in front of a large screen. You swing a real club, but you hit an imaginary ball. The screen then displays a computer-generated ball flying through the air.

Depending on your stance, how much force you apply, and other factors, the software program estimates where your ball would land in real life. It can also provide you with specific feedback to improve your game.

Indoor driving ranges often have these simulators, and you might even want to buy one of your own. Here’s an example of generational wealth coming in handy!

Furthermore, these devices can replicate many real-life scenarios, including rain, gusts of wind, and crowd noises. They provide a variety of courses and scenery, which makes practicing more engaging and stimulating. They allow you to try out every type of shot. And this software keeps getting more realistic, subtle, and sophisticated all the time.

Additionally, with a simulator, you can view a course from practically every angle, including looking down at it from high above. As a result, you can examine your ball’s different positions and figure out a range of strategies. Doing this analysis should help you become a sharper and more precise player overall.

7. Stay in Shape

Obviously, no matter which sports you enjoy playing, you must remain in peak physical condition to perform at the highest possible levels. Therefore, try to maintain your in-season fitness schedule and nutritional regimen throughout the winter.

Visit your local gym or work out at home at least four times a week, and do plenty of cardiovascular exercises in addition to strength training. In the winter, your personal trainer can be your best friend.

A Few Extra Tips

On top of everything else, you can satisfy your appetite for the sport by reading books about it and watching pros on television.

Plus, it might be a good idea to spend a week or two totally avoiding the sport. That’s right: Don’t watch it. Don’t read about it. Don’t practice. Instead, focus on other things: new hobbies, your passive investing and other wealth building strategies, teaching your cat a trick, or taking care of your houseplants. Anything that takes your mind off the subject will work.

When you take a vacation from the game, you can recharge your mental batteries and gain some perspective. Then, when you go back to practicing once again, you’ll feel refreshed and renewed. And, with your mind cleared, you might realize that you’ve been making certain mistakes, and you should be able to correct them.

As you can see, the winter doesn’t have to be a season that’s devoid of golf. Rather, with dedication and creativity, you can use those months to hone your skills and fix any bad habits you’ve acquired. You’ll return to the links in the spring a new golfer, and your friends and business associates might be amazed by the swinging, chipping, and putting that you’re doing.

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13 ways to create multiple sources of income

The prospect of having multiple sources of income is undoubtedly enticing, but turning your money into more money is a tricky and daring undertaking to pursue. However, entrepreneurs, financial advisors, and business moguls alike maintain that with patience, persistence, and innovation, anyone can master the art of wealth building. If you’re interested in earning more cash while keeping your day job, below are some ways you can build wealth without compromising your career or adopting an unhealthy work-life balance.

Create A YouTube Channel
Social media influencers are often mocked, but the power of having a strong online presence is not to be underestimated. With YouTube, creators can express themselves while making a quick buck. In other words, thanks to AdSense, online influencers can monetize their content. In essence, for every view that your video receives, you have the potential to make money.

The more engaging your videos are, the more likely you are to earn a substantial income. Contrary to popular belief, being a YouTuber isn’t as simple as uploading a haphazardly edited video. Viewers want captivating, eccentric, and even informational content that allows them to escape from reality. If you wish to embark on this endeavor, these are critical elements to bear in mind as you create videos for the masses.

Start A Blog
While blogging has long been considered a mindless hobby, many are discovering that this pastime can reap financial benefits. The beauty of blogging is that there isn’t a one-size-fits-all approach. Some choose to use their blog as a digital diary. Others wish to discuss their passions with like-minded audiences.

Whatever you decide, make sure that you’re authentic, consistent with your uploads, and eager for feedback. These are the key ingredients to a successful blog, and the more traction you receive, the better your chances are of becoming an affiliate marketer. Simply put, an affiliate marketer is someone who promotes a brand’s products or services, so if your blog is performing well, more companies will be keen to work with you.

Resell Products On Amazon
Much like its name suggests, reselling on Amazon consists of advertising products on this e-commerce platform. To make a profit, resellers tend to purchase goods in bulk. This practice was so sought-after that in 2010, resellers single-handedly took over the Amazon marketplace. While reselling products on Amazon sounds simple enough, you don’t want to make the resale value too low. Not only will this hurt your profits, but it’ll also make consumers suspicious. If a deal seems too good to be true, people generally wonder what the catch is. With that in mind, price your items reasonably.

Etsy
Etsy is a beloved e-commerce website where online shopping meets personal creativity. Offering an extensive collection of handmade items, Etsy makes it possible for sellers to display their artistic abilities, gain clients, and increase revenue. The most intriguing aspect of Etsy is that it appeals to an assortment of buyers. Whether you make vintage jewelry, personalized picture frames, or home decor, Etsy attracts a wide variety of shoppers. It’s for this reason why Etsy is the ideal place for individual sellers. Simply put, on Etsy, you can flex your creative muscles, establish a clientele, and find a rewarding side hustle.

Social Media
Whether you love it or loathe it, there’s no denying that social media is king. It’s this irrefutable truth that has inspired so many to gain a following on these platforms. From Twitter and Instagram to Facebook and TikTok, there are so many digital domains where you can showcase your talents. Much like YouTube, the more support you receive, the more brands will want to collaborate with you. If you find success in the social media stratosphere, companies will pay you the big bucks to sell their products and services to your audience. A look into how popular influencer marketing has become highlights the possibilities that social media offers.

Unleash Your Inner Entrepreneur
The most obvious way to create another stream of income is to start your own business. With a sensible strategy and some savvy investing, you can fill a void in the ever-expanding marketplace. Consumers are always looking for the next best thing, and though your idea may seem far-fetched, you never know when a novel concept can breed enduring wealth. After all, I’m sure the masterminds behind Snuggie, Chia Pet, and Reddit never thought they’d take the world by storm. Yet, in a stunning turn of events, their newfangled notions helped them generate generational wealth.

Consider Fiverr
Fiverr is an online marketplace for ambitious freelancers. This platform takes a modern approach to business, encouraging freelancers to unveil their unique gifts to customers worldwide. Like most, you might be thinking that websites like Fiverr are already saturated with eager entrepreneurs who will inevitably outperform you. Fortunately, Fiverr is always welcoming new talent, and there’s no shortage of skills they won’t accept. For instance, you can sing show tunes, provide fitness lessons, and offer tarot readings on Fiverr. With that said, as unusual as your expertise may seem, Fiverr will embrace and market it.

Become A Contractor
Being an independent contractor promises many perks. Not only are companies willing to pay more for your specialties because they don’t come with employee expenses, but being a contractor also lets you set your own price. The more competitive your rates are, the more work you’ll receive. Above all else, if you yearn for independence, becoming a contractor will appeal to you. Autonomy is the hallmark of this line of work, so if you want to make more money while satisfying your individual needs, this profession will be right up your alley.

Start A Retirement Fund
With a 401(k) plan, you can set yourself up for financial stability, acquire capital as you age, and put forth little effort while accomplishing both. Though you’ll have to make contributions over the years, you’ll have exceptionally deep pockets by the time you’re ready to retire. For an optimal outcome, familiarize yourself with this form of investing. In some cases, your employer may match your contributions. If they don’t, a Roth IRA might prove more beneficial. The takeaway here is that when you invest in yourself, a steady flow of income is promised for years to come.

Buy Stocks
The stock market, while fickle, presents an excellent opportunity to maximize income, build wealth, and safeguard your money from inflation. Seasoned investors are fond of index funds because there’s minimal buying and selling involved. This strategy is known as passive investing, and it’s a tried-and-true approach that some regard as less risky. If you pursue this type of passive investing, rest assured that you won’t have to concern yourself with rebalancing your portfolio, selecting investments, or buying and selling at the right time.

Purchase Property
Buying real estate is the gift that keeps on giving. Those who purchase property have a world of possibilities at their disposal, and no matter what you decide, it’ll pay dividends. Some investors have found such success on this front that their income comes solely from renters. In other words, all they have to do to make a living is maintain the property they bought. With the funds that they receive from their tenants, they lead a comfortable, cushy life.

Invest In REITs
Better known as real estate investment trusts, REITs are described as mutual funds that require little involvement from you. Essentially, professionals oversee the fund, taking the stress and hassle out of these affairs. Wealth building and REITs go hand in hand, which is why many prefer them to stocks, bonds, and bank investments. Best of all, you can sell your interest in a REIT whenever you want, placing the ball entirely in your court. Most importantly, REITs are more liquid than owning real estate, so if you aren’t ready to pull the trigger on buying property, investing in a REIT is a great starting point.

Build An App
These days, there’s an app for everything. Even still, there’s always a high demand for simplified mobile navigation. Applications make people’s lives easier, which is why these nifty implements are so desired. Though you’ll need some technical expertise to bring your app to life, if your idea fulfills a want or need, it’ll naturally catch on. If you build an application, make ongoing adjustments and enhancements so that consumers won’t lose interest.

Earning Passive Income Is An Option For All
Creating multiple sources of income doesn’t require reinventing the wheel. In fact, you can promote generational wealth and financial security with something as trivial as a blog post. Using the above ideas, you can find revolutionary ways to make more while doing less.

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Art Collecting

Do you enjoy pieces of art? Perhaps you want to use the benefits of your wealth building to purchase and hang up beautiful, historic paintings in your gorgeous home. You may also consider decorating your prime pieces of real estate with artistically crafted sculptures. Or maybe you do not have any interest in art from an aesthetic view, but you view it as a passive investing opportunity that you want to utilize. Regardless of the reason, purchasing art is a great way to use your wealth.

Art Experiences

One option for having a complete art-buying experience is taking part in art fairs. When you do this, you will have memories to go with the beautiful art that you decide to take home. One of the most popular art fairs is Art Basel, which takes place in Switzerland, and its counterparts in Hong Kong and Miami Beach, Fla. Since the first Art Basel in 1970, all three of these events have gained significant audiences of international art enthusiasts.

Another one to consider is the Frieze Art Fair. This newer event started in 2003 and is held on an annual basis in London, New York and Los Angeles. The one in the City of Angels is the newest; its inaugural edition was in February 2019 at Paramount Pictures Studios. Meanwhile, the one that was held in London in October 2019 attracted 125,000 visitors.

These art fairs are ultimately great experiences to have even if you decide that none of the artwork on hand fits what you are looking for artistically or as a passive investment opportunity. In fact, they all also attract art connoisseurs who simply enjoy taking in the art that is on display and have no interest in buying any of it.

Make sure to also research similar events taking place in your own community. Depending on where you live, there may be a thriving arts scene there that you had not even realized existed. And, as the common saying goes, “art is in the eye of the beholder,” meaning that you may discover pieces that really touch you in your own community without needing to fly to places like London, New York or Hong Kong to find artwork that fits your personality and interests.

Do keep in mind the varied types of art that exist. When many think of the term, “art collecting,” the accumulation of paintings by Picasso or sculptures by Michelangelo comes to mind for many, but that is a narrow view. Many today are also interested in other types of art, such as graffiti art. Meanwhile, an example of a highly coveted non-traditional piece of art is Kaws’ painting of “The Simpsons” that had the look of the “Sgt. Pepper’s Lonely Hearts Club Band” album cover. It went for $15 million in 2019.

Also consider that collecting art does not necessarily mean that you need to have physical pieces of art that you are bringing home. You could simply collect artistic experiences. Use some of the generational wealth that you were fortunate enough to receive to do things such as enjoy a box view of a prestigious opera or buy prime tickets to a production such as “Hamilton” for $1,000+ dollars apiece.

The best reason to focus on art collecting from an experience standpoint is because an increasing number of people are valuing experiences over things. Think back to your childhood. The memories that you likely most treasure from that time in your life were the experiences that you had, not any sorts of things that you may have accumulated. The same is true in adulthood. Of course, the experience of going to art exhibits and discussing art with others fits that mold as well, particularly if that also involves traveling to those events.

Online Art Purchases

The purchasing of art online has received increased interest as of late, and many of the aforementioned arts events that have historically welcomed so many physical visitors to their gatherings have started making the move to offering online options for purchasers as well. The more prestigious ones have ensured that multimillion-dollar transactions can be done online safely and securely. They also make sure that the entire experience, including perusing which pieces of art that you are considering, is a seamless one. Many of them have embraced those new to art collecting and make it an enjoyable experience for them as well.

Art as Investing

One way to engage in wealth building is by investing in art. However, it is viewed by many as a risky investment, so it may be better to only go down this route if it is also something that you love as combining the two – investing and love of the arts – is probably the best way to use art as a wealth-building mechanism.

If you do decide to focus on art solely as an investment opportunity, make sure to do your research while concurrently being prepared for it to not be a smooth or predictable path towards greater financial success. This is a passive investment opportunity in that you are not apt to buy and sell in significant numbers, but it is not one in that it may not be the best way for you to maximize returns. But if you are interested, websites such as Artnet, Sotheby’s and Magnus will help.

You can research the art world in a number of ways. This can include regularly visiting local galleries and ones in other cities and countries while you are traveling and talking with curators and other experts there to increase your knowledge of art and of what types of pieces are valuable. Also visit the art fairs mentioned earlier as well as special events such as gallery openings.

However, with that said, this can be a passive investing strategy that results in significant gains. One of the best examples of this is buying art from an up-and-coming artist and then seeing the value of that artwork skyrocket. In this sense, this is no different than stock traders getting in on the ground floor of a company that ends up achieving tremendous success.

Regardless, be prepared for it to normally take 10+ years for art investment to provide significant dividends. This is one of the reasons why this could be a great way for you to pass on generational wealth to your loved ones.

One other thing to keep in mind is that the value of art tends to not closely correlate with how the stock market is doing. As a result, art investment can be a great way for you to diversify.

You could also view art investment as a way to increase the value of your real estate, by providing it with valuable pieces of artwork. In those cases, your art-focused investment could end up more immediately paying off by increasing the value of your real estate a significant amount prior to you selling it.

If you are going to focus on the purchasing of art for economic reasons, make sure to also take into account all of the possible associated costs, such as how much it will cost to store and maintain it, which can involve monitoring things such as how much light and humidity it experiences.

Also consider taking part in buying shares of expensive pieces of art, which can be done through an online marketplace. A couple of investment platforms to consider that will help with this include Maecenas and Masterworks, but note that Masterworks is only available to those outside of the United States.

Types of Art

Art tends to be one of three types.

Originals are one-of-a-kind pieces of artwork. These are usually worth the most. Prints are copies of originals. They provide a great way for you to have a beautiful piece of art for not a lot of money, but they are, for the most part, poor investment opportunities. Of course, it depends as rare prints can command a considerable dollar amount. Lastly, reproductions are similar to prints, but this term refers to copies that have been mass-produced. They are much more affordable but unlikely to earn you a profit.

Is Art Collecting for You?

One of the best ways that you can use the wealth that you have accumulated is to engage in your passions. If art is one of them, this could be a perfect match for you, the same as if you were a sports enthusiast who wanted to use your wealth to enjoy those types of events or invest in sports-related organizations.

Note that you can also use your interest in art to focus on supporting artists who you enjoy. Of course, you may even be able to earn some income if the artwork that you purchase increases in value and you do not mind parting with it. Regardless, art can provide you with unique investment opportunities.

Is art collecting for you? It depends, but it is something that you should consider.

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How Passive Investing Can Generate Wealth and Change the Way You Work

Imagine having the freedom to work because you want to, not because you have no choice. Think of what it would be like to wake up each morning with nothing to worry about because you know your finances are in order. Consider how great it would feel to know that the money you’ve already made is working to make you even richer.

Wealth Building: What Does it Mean to Be Rich?

When you imagine a “rich” person, what do you see? You might envision some happy guy drinking champagne on a private yacht. You might picture him with a spouse or other loved ones nearby. You probably wouldn’t think of a miserable person who works 80 hours a week and has no time for fun.

Is someone really wealthy if they have plenty of money but no time to relax? There are different ways of looking at riches. The concept of wealth can break down into three categories.

1. Financial

Money isn’t everything, but it is the primary aspect of being rich. To achieve true financial freedom, you need to be free of debt. This doesn’t mean you’ll never take on debt to expand your investment portfolio. There are times when getting a mortgage on a new property can be beneficial. The main goal is to make sure your net worth is positive.

The goal of attaining financial freedom is to never have to worry about money again. If you’re single, this is easier to achieve. If you’re supporting a family of 10, your goal should be to build generational wealth you can pass down. Someone with true riches will be able to fall asleep each night knowing everyone they love will be comfortable for the rest of their lives.

2. Time

Freedom of time is another important aspect of a luxurious lifestyle. Some people become so focused on making money they end up taking on too much and never having any free time. The path to riches can’t require nonstop work. All of the richest people on the planet utilize passive investing.

Passive investments are the key to true financial freedom. They require minimal hands-on work. You can manage them from anywhere, from your living room to a beachside bungalow across the world.

3. Location

The last important aspect of a true life of riches is freedom of location. When you aren’t locked into a strict work schedule, you’re free to go anywhere you like. You can manage most passive investments from anywhere. One of the best ways to get into passive investing is through property.

Passive Investments in Real Estate: What Are Your Options?

Getting into the world of real estate is one of the smartest routes to gaining freedom of time, location, and finances. When we discuss passively investing in property, we don’t mean buying an apartment building and renting out the units. While this can be a great option for some, it’s not passive. It requires hands-on work and is best for someone who prefers to remain located near the investment property. True passive investments allow you to enter the property market without all the hassles.

Crowdfunding

Throughout history, people have always turned to investors to help them fund various projects. It’s a great option, but it’s not always possible to find a single investor who can contribute what’s needed. Crowdfunding makes this process easier by allowing multiple parties to pool their money together.

There are two ways to invest in crowdfunding projects.

  • Invest in a mortgage for a commercial property.
  • Invest in the property itself.

Making an investment in a mortgage means your money goes toward the loan. As the borrower pays back the loan, you receive a percentage of the interest.

If you choose to invest in a property, you’ll get returns on your investment through income generated by said property. You’ll also earn a portion of the profits when the property sells.

How Can it Benefit You?

Maybe you plan to make a big investment, but you’re just short of the amount you’d need to buy in. A benefit of crowdfunding is that it allows investors to enter the market regardless of how much they want to spend.

Even if you have plenty to invest, this makes it easy to diversify. If you choose, you can put your money toward 10 different projects rather than one. You’ll get less of a return if one of these projects does well, but you’ll also have a reduced level of risk. Crowdfunding allows you to choose a level of risk you feel comfortable with.

Another benefit is the platforms make it easy to browse investment opportunities. Rather than spending hours searching the internet, you can find many legitimate opportunities in one place.

How Can You Get Started?

In the past, only accredited investors could use crowdfunding platforms. In May of 2016, the platforms became available for anyone who wanted to make an investment. The JOBS Act, which passed in 2012, was designed to make things easier for small businesses. In late 2015, the SEC finalized provisions related to crowdfunding and accreditation.

To get started, you’ll need to join a property crowdfunding platform, such as Crowdstreet or Fundrise. Both services are reputable. Property crowdfunding is a hot trend, which means many are trying to profit from it. There are a variety of crowdfunding startups popping up these days, and a lot of them aren’t well-capitalized. Anyone can build a website that offers crowdfunding, so doing your research will be crucial. Look into who founded the platform. Make sure they have business experience and knowledge of the world of real estate.

Lending

Becoming a private lender is another way to break into the market. Being a private lender can earn you passive income the same way it does for banks and financing companies. You provide the money upfront, and the borrower pays interest, providing you with an ongoing source of passive funds.

How Can it Benefit You?

If you have a significant amount of capital to work with, this is a good option. A big benefit is that private lenders working with property aren’t limited by the terms of the Dodd-Frank Act. This means you’ll be free to set your own terms for the loan. For example, you could choose to work with risky borrowers that major lending companies wouldn’t consider.

How Can You Get Started?

It can take some effort to establish yourself as a private lender, but once you’ve set up your loans, it becomes a passive venture. First, you’ll need to found your business and get insured. It’s smart to meet with your attorney to discuss the plan and receive personalized advice before moving forward. When you’re ready, you can join a private lending platform that will connect you with interested borrowers.

REITs

A REIT is a special type of investment trust devoted to property. They usually own commercial properties that generate income, such as strip malls or motels. They also may own mortgages. You purchase a stake in one of their properties, and you get a percentage of the profits.

The types of REITs include:

  • Mortgage REITs, which purchase existing mortgages and pay out dividends based on interest.
  • Equity REITs, which allow investors to purchase a stake in an income-generating property.
  • Hybrid REITs, which offer investment opportunities of both types.
  • Publicly traded REITs, which are SEC regulated.
  • Non-traded public REITs, which offer more security due to not dealing with fluctuations in the market.
  • Private REITs, which aren’t traded or regulated by the SEC.

How Can it Benefit You?

REITs generally pay out high dividends. They’re a passive option that can help you with wealth building. They offer diversification without a high degree of risk. Publicly traded REITs offer the benefits of property investment and stock in one.

How Can You Get Started?

If you’re ready to invest in a REIT, you’ll need to meet with a broker. Some brokers only handle publicly traded REITs, and others offer the non-traded variety. Do some research into the different varieties to see what will work best for you, and then find a broker who can deliver.

Grow Generational Wealth: Begin Your Investment Journey Today

When it comes to building wealth passively, you’ll have to figure out what works for you. For investors, no two paths are exactly alike. The key is learning how to balance the risks with the potential gains. Think about what being rich means to you, and then work smart instead of hard. A decade from now, you’ll be glad you did.

For more information on investing, passive wealth building, and living a fantastic life, check out our blog.

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Working because you want to, not because you have to

The work environment has changed tremendously over the last century. No longer are people just working on getting a paycheck to allow their families to survive. The workplace mentality has greatly shifted to working towards a purpose, not just a salary. People desire to be inspired, to commit themself to a main purpose, and enjoy the ride.

What Is Passive Investing?

Investing passively has been long defined as a buy-and-hold portfolio strategy that is based on long-term horizons. While this broad definition does define many parts of various investment strategies, real estate buying requires more of a specific definition.

In regards to properties, passive investments are defined as purchasing rental properties without a substantial amount of active participation. Passive property buying can be broken down into two categories, which are direct and indirect.

Direct

Direct investments are described as an approach where the investor purchases a property that is already cash flowing. Upon purchasing the property, the investor will hire a property management company to handle the day-to-day tasks, such as collecting rent.

Indirect

Indirect investments are defined as investments in REITs or real estate related mutual funds. In this scenario, the investor simply collects dividends from the funds, and there is no day-to-day management of the investment required.

What Are The Benefits Of Rental Properties?

As a passive investor, there are many benefits you can reap from this wealth-building strategy. You’re obviously aware of some benefits, which is why you’ve chosen this type of investment strategy. However, here are some other benefits that you may not have noticed yet:

You Can Easily Use Leverage

Rental property buying is one of those strategies where you can utilize leverage in a good way. When we talk about leverage, we’re referring to taking out debt on the property. For example, your down payment may be 25 percent of the overall purchase price of the property. Instead of shelling out $100,000 for an investment property, you only need to pay out $25,000. Then, your incoming rent will pay the mortgage payment.

With rental properties, you can use this leverage advantage to scale up fast. Instead of buying just one investment property with your $100,000, you can use leverage to buy four properties, all valued at $100,000. This type of leverage is very hard to replicate with any other type of investment strategy.

Real Estate Allows For Diversification

Rental properties allows for easy diversification by nature. You can diversify in different types of investments, such as residential, commercial, and land lots. You can spread your investments across different geographical areas. You can opt for larger apartment buildings to decrease your risk of not getting paid rent. There are a plethora of diversification tactics you can enjoy within this one investment sector.

You Can Force Appreciation

With many types of investments like stocks, you can’t change what the asset is worth. You’re stuck at the mercy of outside factors to determine value changes. With tenal properties, you can force appreciation on your properties. This means you can easily increase the value of your asset at any point in time.

Forced appreciation can be done in many different ways depending on the specific property you’re working with. A single-family home can be upgraded to include new appliances, better curb appeal, and even new countertops to enhance its value. Forced appreciation is always a viable strategy for passive rental property investments.

Can Reap Rewards From Seasoned Partners

Passive investing can easily be done by pairing up with those who are active, seasoned rental property investors. These individuals are the ones who go out and find the deals. You simply partner up by bringing investment funds to the table and enjoy a portion of the monthly or quarterly revenue.

Seasoned investors know that their investment strategy works. And, they know that the more money they can get access to, the more prosperity they can build. Therefore, many seasoned rental property investors are happy to work with passive investors to purchase properties and share the rewards.

You’re Dealing With Tangible Assets

As an investor, it can be daunting at times to invest in strategies that you physically can’t see the investment. Things like stocks and mutual funds aren’t what we think of as tangible assets. They’re on paper, for sure, but they can’t be touched.

Investment properties, on the other hand, are tangible assets. You can physically walk through the investment property. You can drive by it and know that you own it. There’s a big mental win when you invest in tangible assets instead of intangible ones.

Hopefully, this shortlist of passive rental property buying benefits has helped to show you some advantages that you may not have noticed. We want to continue to renew your interest in passive rental property wealth building strategies. Let’s move on to thinking about your future and how this investment strategy will make a world of difference.

Building Generational Wealth

When the term generational prosperity comes up in conversation, many immediately think of the powerhouse families like the Rockefellers, Waltons, Mars, and Kochs. These families are known for having massive wealth. However, what exactly is generational wealth?

Generational wealth is simply defined as passing down assets from one generation to the next. There is no defining amount of value in terms of money that must be met. Some people refer to generational prosperity as passing down assets of knowledge, not money, to future generations. Therefore, the assets described from ‘generational prosperity’ can be defined however you would like.

For some investors, generational prosperity may define the passing down of a specific amount of money to each of your children. For others, it may include passing down a successful wealth building strategy alongside money that you’ve developed to ensure the wealth of your future generations. You’ll need to define your own meaning of what generational prosperity is for you.

We’ll Work Harder For Others Than We Will For Ourselves

We’ve all been there where we find it impossible to get the motivation to keep moving forward in an endeavor. However, once successful in another endeavor, we tend to look back to determine why this one worked, and the other one failed. Many times, our success level is defined by our purpose.

When you think about passive investments, you may think of the things you can buy or do in the future. However, that passion really starts to come to life when we think about how our efforts will affect the people we care about. When you think about passive rental property investing beyond growing your bank account, it opens up the possibility of creating things like generational prosperity.

A bank account is simply numbers on paper. Creating a plethora of properties that your family can reap the income of for decades to come is motivation at its best. To know that the investment decisions you’re making today can leave a major legacy for your children, grandchildren, and great-grandchildren, is to truly have a purpose.

Working Because You Want

When you can position yourself to have a purpose well above just personal gain, suddenly, working becomes a passion. You do it because you want to fulfill that purpose. You no longer just think of investing as a side job. You think of it as your strategy to leave behind a legacy. Instead of judging your wealth building progress based on dollar signs, you can judge it on personal fulfillment.

When you focus on just money, you’re eventually going to lose your desire to invest. As you reach your financial goals, you’ll start to notice that you don’t have a desire to continue to build. The money you thought that was going to make you happy suddenly doesn’t seem all that important. This is because you lose your desire to grow and develop.

When you put effort towards growing your riches with the intent of providing for future generations, you make better decisions. When you think about others, you consistently get a renewed sense of desire to grow and build. Working is done as a means to bring happiness to others, which, in turn, brings happiness to you.

The Bottom Line About Passive Investments

Achieving prosperity through passive rental property purchasing is nothing new. Wise business people have done it for centuries. They’ve paved the way for today’s generations to grow their wealth portfolios and create lifestyles that they wouldn’t trade for the world.

Rental properties are a unique investment type that provides so many advantages. Immense leverage, forced appreciation, and being able to ride on the curtails of more seasoned investors are just some of them. Taking on the role of a passive rental property investor allows you to take advantage of all these amazing benefits.

As you continue to grow your assets through passive investing, it’s important to remember that you need to have a purpose. Whether your short-term purpose is to create a passive income stream that pays for your desired lifestyle or you have your eyes set on creating a legacy for future generations, you need to have a purpose to remain successful in this game.             

 

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How to Subtly Display Your Wealth

Maybe you’ve always enjoyed generational wealth. Or perhaps you’ve been working on your wealth building lately with passive investing and other investment opportunities.

Either way, you’ll need to consider a personal question: Should you flaunt your money? And, if so, what’s the best way to do it?

At one time, it was fashionable to show off money with the flashiest cars, the biggest mansions, the most prized real estate, and the highest-priced pieces of jewelry. Yes, ostentatiousness was in.

Today, however, social mores have changed somewhat. For rich folks everywhere, inconspicuousness has become trendy. Many upper-income individuals are finding understated ways to display their financial prowess. After all, there’s dignity in being discreet.

With that in mind, here are some subtle ways to display your good fortune. Better yet, many of the lifestyle choices described below will lead to extra happiness and personal fulfillment as well.

Health Is Wealth

Investing in your own well-being should make you feel more energetic every day. Not to mention, it could help you live longer. And, these days, when a person looks healthy and glows from head to toe, it’s a real sign of prosperity.

Therefore, you might want to spend more on haircare and skincare. For instance, going for a monthly facial at an exclusive salon or spa could provide you with numerous benefits. Your skin should be softer, smoother, cleaner, stronger, and more radiant. Your social circle is sure to be amazed.

In addition, you might set up a home gym with state-of-the-art equipment. And, of course, sessions with an expert personal trainer can work wonders.

On the other hand, you could join a pricey and exclusive gym. Such an establishment will offer plenty of space and privacy along with many benefits. Those perks could include celebrity fitness instructors, babysitting services, and opulent spas for post-workout relaxing.

Thus, going to the gym will be a pleasure, and you’ll look forward to your exercise routines. As a result, you’ll probably get fitter faster, and the results should last longer.

In all of this, don’t forget about nutrition. Avoid fatty and sugary foods. Consume a balanced diet with lots of lean, nutritious foods. Among many other benefits, it’ll contribute to your radiant appearance.

In fact, why not hire a personal chef and a nutritionist? They can design meals for you that are packed with healthy, organic ingredients. Believe it or not, with the right preparation, those dishes will be tasty and irresistible.

Moreover, whenever you’re hosting guests for dinner, wow them with foods like pasture-raised eggs and rare, incredibly expensive vegetables. Indeed, hop shoots and Le Bonnotte potatoes can be more impressive than the finest wines.

School Days

In the past several years, education has become a major expenditure for so many wealthy families. Americans in the top 1 percent of net worth now spend more than three times as much on education as they did during the mid-1990s. By contrast, middle-class families spend about the same amount on education as they did circa 1996.

It all starts with preschool. The priciest of preschools cost tens of thousands of dollars to attend. And they may offer such bonuses as climbing walls, drama programs, ballet lessons, introductions to robotics, gardens for exploring, swimming pools, yoga classes, libraries, and even artists-in-residence.

The educational advantages continue all the way through college. Some rich families hire live-in tutors, people who are experts in their academic fields. They may move to a new town or purchase a second home to be within walking distance of an elite elementary, middle, or high school. And they might fly around the country in a private jet to tour the nation’s most prestigious colleges.

Of course, education isn’t just for children and young adults. Instead, it’s a lifelong pursuit. And many wealthy individuals now work hard to show how self-educated they are. They discuss the articles they read in distinguished publications like “The New Yorker” and “The Economist.” They frequently refer to museum exhibitions and great artists. They read nonfiction and biographies, and they sprinkle tidbits from those books into their conversations. You get the idea.

With that in mind, whenever you get the time, try to do a little sophisticated reading — or have someone else do the reading and give you a summary. That way, you can share what you’ve learned with friends, relatives, colleagues, and others. Having the leisure time to do plenty of reading and the discernment to choose erudite subjects will surely impress everyone you encounter.

A Bespoke Life and a Private Life

If you’re flush with funds, you can really customize your lifestyle. Are you tired of fighting traffic on the freeway? Hire a driver. Do you have trouble finding things, but you don’t have the time or the inclination to clean your home top to bottom? Look for a professional house cleaner. Are you sick of getting dressed up for business meetings? Hold those meetings on Zoom, and dress casually for them.

With today’s gig economy and a website for just about any service, you can hire people to do just about everything. Obviously, doing so will give you more freedom to pursue your hobbies and interests. Or you could just increase the amount of time you spend with your friends and family.

Additionally, you might customize your life by making it more private, especially if your career requires you to be in the public eye. To that end, you might hire someone who could use a jamming signal to block your real estate from GPS systems. Consequently, anyone who tries to use GPS to find your home will be unsuccessful.

In a similar vein, some wealthy homeowners are moving into neighborhoods that won’t let Google take pictures. Therefore, Google Street View isn’t able to show photos of their homes, and residents receive an extra layer of privacy.

There are even homeowners who are boosting their privacy by going underground — literally. Building beautiful mansions with one or more subterranean floors has become something of a minitrend. That way, if war broke out or a natural disaster struck, you could still live in luxury under the ground. And you could go a long time without seeing your neighbors.

When you customize your lifestyle, you may find that your stress melts away. Your days may be more joyful and more productive. You might even look and feel better than ever before.

See the World in Unique Ways

For sure, jet-setting has always been associated with generational wealth as well as recently-attained wealth. And this kind of travel has always been full of perks: private planes, first-class hotels, private beaches, and so forth.

However, many people with mountains of disposable income now seek a special type of travel. It’s loaded with special amenities and personalized — there’s that word again — touches. In essence, you can make up your own perks as you soar from gorgeous destination to gorgeous destination.

How about a personal bartender, someone who could mix and serve you drinks right in your hotel room? Or, if you love art, perhaps you could tour a top museum after-hours. And your guide might be a local art historian or maybe even one of the artists featured in the museum.

As a high-net-worth traveler, you may even have access to exceptionally luxurious hotel rooms that aren’t advertised to the general public. Instead, they’re only available by request, and you can only find out about them through word of mouth.

On top of that, some wealthy folks are taking extended vacations nowadays — really extended vacations. Those trips can last for weeks or even months at a time.

With a top travel specialist making arrangements, you might be able to procure any experience you can imagine. Whether it’s racing a Lamborghini through Italian streets or hang gliding over architectural wonders in China, the world is yours for the taking. And the social media photos you’ll share afterwards will really show off your wealth building skills.

Give, Give, Give

Finally, a great way to flex your bank account is through charitable giving. That way, everybody wins.

Giving generously to charities and causes that are important to you will surely warm your heart. Plus, it’ll make a real difference in the lives of people who need it.

Likewise, when a friend or loved one has a truly special occasion — a graduation, a wedding, a retirement party, or a similar event — you might spring for an expensive gift to express your admiration. It’s sure to be long remembered and appreciated, and it should come as a happy surprise.

As you can see, the above measures for displaying wealth are tasteful, cultured, and socially acceptable. They revolve around experiences instead of hard assets. They’ll let you create invaluable memories rather than collect invaluable items. And they’re all available to you if you rely on the right investing strategies, including passive investing.

In short, though none of these lifestyle choices are conspicuous, they all send a powerful message. They’re status symbols, but they’re classy and meaningful status symbols.              

 

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Justifying College Tuition? – Check Out These Numbers!

Every year I am astounded by the rising cost of college tuition and I feel for the students lining up to pile on massive debt before they even have a chance to start earning an income or know what job opportunities might be on the other side of this 4-year commitment. USA Today recently published an article stating the average cost of tuition in the U.S. is now around $48,510.

It’s been more than a decade since I graduated from college and my perspective has not changed. At age 18, if I