Best way to financial freedom and high residual income?

[GrindtooFilthy]

I decided to learn options, was doing forex but I’m over that.

I don’t plan on making money now but I think I’ll study it for 2 years before jumping in.

 

[jdubnyce]

Stock investment
Diverse portfolio
Dividend stocks/reinvestment

Not familiar with options, but heard of major successes and failures... risky

 

[humminbird]

making something
A book
An app with a lot of in-app purchases
etc

 

[UncleTomFord15]

Options are amazing, I've literally made 50% of my money in literally just a few mins. Putting in 500 and walking out with 250 after just 10 mins. However that whole 500 could be lost in just a few mins if youre not careful.

Other ways to make money- Long term investments esp stocks with dividends
Bonds
Real estate
Flipping shyt from Craiglist onto Ebay
Dropshipping
Writing audiobooks/ebooks

 

[MJ Truth]

It's simple as fukk. The actual avenue you take to get there depends on your own skill set and opportunities in front of you.

But you have to pay off your debt/don't accumulate debt, live below your means, invest the difference between what you earn and what your bills are.

The specific ways you earn money and the specific ways you invest the money are up to you. You also need to get rid of all of the emotional/mental blocks and hangups you have about money (most people overspend not because they don't understand how money works, but because they're trying to fill some void in their life).

 

[R.E.N. Spells Ren]

Define “best”


Most sure-fire way in the long term is through ownership. Real Estate is the probably the most attainable for the common person.

 

[GrindtooFilthy]

Define “best”


Most sure-fire way in the long term is through ownership. Real Estate is the probably the most attainable for the common person.

real estate takes a lot of capital though

i literally saw my boy put $1k into options and leave with $12 in 2 weeks, granted he doing it for years but imagine just coming out with 2/3k a week. you're chilling at that point fukk an office job

 

[Crude]

Real estate investments is some of the easiest passive income you can ever make.

You also need to make it a business and file it under an LLC and get a tax ID number.

 

[⠀X ⠀]

Forex? What real value does doing that provide to the marketplace?

If you really want to have something that’s sustainable, then you need to provide value to people.

The most common way is to have a skill/trade and scale it. You can also sell a product that’s easily scalable. A lot of people have become wealthy by selling information on a certain subject. Online courses are hot right now.

From there, you can move into real estate. But trying to get rich in trading, is probably not the way to go.

 

[Shoog Shatmi]

real estate takes a lot of capital though

i literally saw my boy put $1k into options and leave with $12 in 2 weeks, granted he doing it for years but imagine just coming out with 2/3k a week. you're chilling at that point fukk an office job

Options trading is basically gambling. If your boy could make consistent returns like that he would be a billionaire.

 

[Rawtid]

Get debt and bad spending habits under control first. If you’re a shyt saver and spending frivolously, won’t matter how much money you bring in.

 

[R.E.N. Spells Ren]

real estate takes a lot of capital though

i literally saw my boy put $1k into options and leave with $12 in 2 weeks, granted he doing it for years but imagine just coming out with 2/3k a week. you're chilling at that point fukk an office job

Yes it takes capital. So you have to play the long game. If you’re starting out poor, the most effective way to start is to consolidate your living expense with an investment by owning the home you live in. With the equity you build in that appreciating asset you can make even more deals.

The stock market has been in an incredible bull run since the 08 crash, tipped off by the most remarkable rebound I’ve ever seen from March 2020 until now so there has been money to be made there. But don’t fool yourself into think that’s always going to be that way. It’s essentially gambling, and when the market turns there could be prolonged periods of negative returns.

 

[dark_magic]

I decided to learn options, was doing forex but I’m over that.

I don’t plan on making money now but I think I’ll study it for 2 years before jumping in.

- Optimize monthly residual cash flow.
- Leverage debt intelligently
- Aggregate and eliminate bad debt
- Learn how to build capital
- Purchase income producing, cash flowing assets
- Optimizing lifestyle in regards to cost.
- Reduce, cover, and/or eliminate liabilities.
- Leverage business structures.
- Reduce (and/or eliminate) taxes.
- Have multiple sources of income.
- Have income from all 3 buckets i.e. active, portfolio, and passive.

As to stock options, the money is in selling options. Not so much in buying them.

You should learn FOREX, stocks, options, and derivatives in my opinion if you are going to go down this road.

Financial freedom is the junction between your monthly expenses and your passive income nullifying each other.

 

[MasterOfAllHeSurveyz]

There's no best way. There are sound principals though.

For the average person, live below your means, put all of your disposable income into long term investing (10+ years) and set realistic short term goals i.e. have a hustle that covers your smallest bill similar to Dave Ramsey's debt snowball. But, to be frank, most people have too much quit in them.

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Also, OP, you can join this Theta Gang discord here since you're into options. -> Join the THETA GANG-Kamikaze Cash Discord Server!

 

[Macallik86]

If you decide to go the Forex, Options, Futures route, don't treat it like a bunch of lottery tickets, instead treat it like a college degree.

In other words, you are unlikely to make money for the first few years and some people even go into debt, but once you finally gain enough experience, you have a way to make money for the rest of your life. It is scalable as well. I'm still putting in my time right now to gain that experience but the long term goal is a few trades a week and then doing whatever I want to with the other 40 hours of a typical work week.