The Good Financial Cents Show w/ Jeff Rose, CFP®

I was putting on a favorite pair of lounge paints the other day.  I placed my hand in my pocket and found a $20!

 

It’s always fun finding extra cash in your pocket.

 

Want to know what is even more fun?  Making extra money every month!

 

In this 3-part podcast I am going to share over 30 ways you can make extra money on the side.

 

30 ideas may seem a bit overwhelming, but I know that not every idea will work for everyone.  My hope is that by sharing all 30 everyone will find something what will work for their situation.

 

05:50 #1 Selling eBooks
09:17 #2 Freelance Writing
11:49 #3 Blogging
14:29 #4 FaceBook Ads
17:53 #5 Crypto Bot Trading
20:07 #6 Dividend Income
20:50 #7 Cryptocurrency Savings Accounts
22:42 #8 Real Estate Rental Income
24:02 #9 Personal Coaching/Consulting
26:56 #10 Membership Communities


Check out my YouTube channel here.

Follow me on Twitter and Instagram

 

Resources:

How To Make $1,000 Per Month in Dividends

7 Rules I Learned After Going Broke in Real Estate Investing

https://wealthhackerlabs.com/ask/

Direct download: Ep_142-_Make_1k_Part_1_.mp3
Category:general -- posted at: 11:12am CDT

Do you have a passion for helping people with their money but have a hard time figuring out how to go about it?

 

Could you be a part-time money coach?

 

We recently had a subscriber ask: I’ve started taking CFP courses and I want to start part-time helping families get their finances in order. I was wondering if you could offer any advice in regards to this.

 

04:18 - Is this a viable option?
06:35 - Requirements/Certifications of a financial coach.
08:48 - What is your money story?
13:11 - What is your speciality?
15:44 - What is your specific solution?
16:38 - What will you charge?

 

Check out my YouTube channel here.

Follow me on Twitter and Instagram

 

Resources:

https://wealthhackerlabs.com/ask/

https://whitneyhansen.com/

https://damonday.com/

Direct download: Episode-141.mp3
Category:general -- posted at: 10:29am CDT

Passive income is one of the most searched topics on the web today.

 

Who doesn’t want to make money while they sleep?

 

The American dream for some is having the big house with the white picket fence, but for others it is making money while doing nothing.

 

You can do this through passive income.  Just be prepared to do the work up front because it does take some work to set it up.

 

I want to share how you can earn some passive income through dividend investing.

 

Just like any other form of passive income, this takes work on the front end and a little time to build.  

 

The first step is getting started.

07:18 Bonus Benefit #1
09:42 Bonus Benefit #2
15:42 ETFs
16:47 REITs
18:14 Sample Portfolio
22:124 How To Build Your Portfolio

Check out my YouTube channel here.

Follow me on Twitter and Instagram

 

Resources:

28 Passive Income Ideas To Build Real Wealth

How to Invest in Dividend Stocks

Best Long-Term Investment Strategies & Products

https://wealthhackerlabs.com/ask/

Direct download: Ep140_How_To_Make_1000_Per_Month_in_Dividends.mp3
Category:general -- posted at: 10:03am CDT

When I was in college I absolutely hated writing papers.

 

The paper that I spent the most amount of time trying to write was my resume. It ended up being one page.

 

Anyone looking to hire me would have this one page to learn all about me and make a decision of whether or not to hire me.

 

Financial lenders have one document to look at to determine whether or not they want to lend you money. It is your credit report, which gives them the details of your credit score.

 

Today I am going to give you some tips on how to build up your credit score.

 

6:52 What affects your credit score?
11:04 Open a secured credit card account.
13:31 Credit builder loans
14:44 Credit building Apps
15:46 Review your credit report
17:23 Dispute any charges that are not yours

 

Check out my YouTube channel here.

Follow me on Twitter and Instagram

 

Resources:

How to Raise Your Credit Score 100 Points or More in Less Than 5 Months

How to Dispute Your Credit Report and Get Negative Items Removed

What is a Bad Credit Score? (Plus How to Improve It)

7 Best Credit Repair Companies of 2022

https://wealthhackerlabs.com/ask/

 

Direct download: Ep139_Build_Your_Credit_Score.mp3
Category:general -- posted at: 10:22am CDT

It is time for a vacation!  

 

If you aren’t going to an ‘all inclusive’ resort - figuring out where to stay can really be a hassle.

 

We have a hard time finding a place that will fit our family (4 kids) with enough space to ‘spread out’.

 

Maybe your vacation is a time to check out some potential investment properties.

 

A reader, Steve, sent in a question about potential investment properties that we are going to answer today.

 

 

Steve asks: My wife and I are in our mid-50’s, we are debt free and own our home. We would like to have a place that our family and kids can use while we explore future retirement areas near the vacation home.

 

05:56 The pros of buying a short-term rental.
07:08 Generating Income
10:22 Long-term capital appreciation
13:20 Great Tax Benefits
16:24 The Cons - Higher Down Payment/ Higher Interest Rate
17:33 Not all communities welcome short-term rentals
18:04 Bad renters/property damage
18:54 Not passive income

 

I encourage you to have detailed conversations with your significant other and your CPA before you purchase a vacation/short-term rental property.

 

Check out my YouTube channel here.

Follow me on Twitter and Instagram

 

Resources:

How to Buy a Second Home that Pays for Itself

Real Estate or Index Funds – Which is the Better Way to Build Long-term Wealth?

How To Invest in Real Estate (12 Different Ways!)

https://wealthhackerlabs.com/ask/

 

Direct download: Ep138.mp3
Category:general -- posted at: 11:01am CDT

It was 2001 and I was an intern at an investment firm - actually the brokerage firm that hired me to become a financial advisor.

 

I experienced, for the first time, what a stock market crash is.

 

Until you see how it affects people, you just don’t fully understand the stress, worry, and defeat that comes with it.

 

At that time, I thought that would probably be the worst crash I would see in my lifetime.

 

Then 2008 rolled around!

 

I decided to add some perspective to the current situation, I would share the top 10 crashes in history.

 

Check out my YouTube channel here.

Follow me on Twitter and Instagram

 

Resources:

The Best Online Brokerage Accounts: For Beginners To Experienced Investors

15 Ways To Start Investing Small Amounts Of Money

Betterment Investing Review: Make Investing Automatic

https://wealthhackerlabs.com/ask/

Direct download: 137-Top_10_WORST_Stock_Market_Crashes_in_History.mp3
Category:general -- posted at: 2:26pm CDT

This is a question that I didn’t think I would ever have to answer.

 

It is a very unique question that a reader, David, sent in.

 

“Fundrise or a 529 College savings plan - what is the best when you are investing for your kid?”

04:08 Investment Component
06:56 Tax Component

 

Check out my YouTube channel here.

Follow me on Twitter and Instagram


Resources:

https://wealthhackerlabs.com/ask/

Fundrise Review: How to Invest in Corporate Real Estate With a Small Investment

7 Roth IRA Secrets You’ll Wish You Knew Sooner

Topic No. 553 Tax on a Child's Investment and Other Unearned Income (Kiddie Tax)

Roth IRA Rules and Contribution Limits for 2022

Direct download: Episode_136.mp3
Category:general -- posted at: 11:39am CDT

There was a time in high school, and I totally deserved it, where I got sent to the principals office.

 

Luckily I learned from my mistake and didn’t repeat it. Getting in trouble with your teacher and/or the school is not something I wanted to do again.

 

As an adult, I would say the equivalent to this would be if I were in trouble with the IRS. No one wants to do something that will get them in hot water with the IRS.


Today I want to share 5 mistakes that you want to avoid when filing taxes.

 

03:33 Forgetting paperwork
07:11 Missing or incorrect information
09:02 Don’t wait until the last minute
11:27 Choosing the incorrect filing status
12:41 Missing a tax break

Resources:

Best Tax Software Programs

TurboTax Review: An Industry Standard for DIY Tax Prep

What Happens If You Don’t File Your Tax Return?

 

Check out my YouTube channel here.

Follow me on Twitter and Instagram

Direct download: Episode_135.mp3
Category:general -- posted at: 12:07pm CDT

What if you could go back in time and talk to the most successful investor of all time?

 

Do you think you would be an overnight millionaire? A billionaire? Maybe

 

Today we are going to talk about the top 11 investors of all time.

 

I found an article that talked about these investors and I wanted to do something a little different.

 

I wanted to find out what their first investment was or their best investment or both.

02:35 Benjamin Graham
04:53 Jack Bogle
07:21 John Templeton
09:40 Peter Lynch
11:53 Warren Buffett
15:39 Charlie Munger
17:47 Nassim Taleb
21:14 Ray Dalio
22:45 Peter Thiel
24:03 Carl Icahn
26:23 George Soros

Direct download: Episode_134.mp3
Category:general -- posted at: 11:52am CDT

Everyone wants to work until they are at LEAST 65 and can retire.

 

Oh wait….or is it that people want to retire early?

 

If you don’t want to stay stuck in your job until you are 65 or later, you have to start doing something different.

 

Tune in as I share 8 different strategies to help you retire early.

 

03:27 Get mentally prepared
05:34 Know your retirement target numbers
10:03 Have a strategy for health insurance
11:25 Cutting expenses now and for later
12:23 Pay off debt as soon as possible
13:23 Savings has to a priority in your budget
16:10 Increase your income and/or add additional streams of income
17:57 Invest aggressively but don’t speculate

 

Resources:

How to Retire at 50 in 7 Easy Steps

How to Retire at 55 (Safely!)

Here’s Your Plan to Retire in Ten Years

 

Check out my YouTube channel here.

Follow me on Twitter and Instagram

Direct download: Episode_133.mp3
Category:general -- posted at: 9:30am CDT

Today we are comparing two heavy-weight investments.

 

Real Estate vs. Index Funds

 

Which one is better for building long-term wealth?

 

That was the question we received from Patrick, one of our readers.

 

Disclaimer: I am not a professional real estate investor.  The majority of my real estate investments are in private real estate notes and through Fundrise.

 

With that being said - let’s dive in and compare the two in greater detail:

06:10 Pros and Cons of Real Estate
15:01 Benefits of Index Funds
21:37 Risks of Index Funds
24:06 The numbers
28:30 The Winner Is…..

 

Resources:

7 Rules I Learned After Going Broke in Real Estate Investing

Fundrise Review: How to Invest in Corporate Real Estate With a Small Investment

Best Long-Term Investment Strategies & Products

Check out my YouTube channel here.

Follow me on Twitter and Instagram

Direct download: Episode_132.mp3
Category:general -- posted at: 10:24am CDT

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