On September 20th, I started a challenge to sell 15 books a month, until December. This means that my goal is to sell 60 books by the end of December. I have almost reached my September goal. I just need to sell four more books.
Feel free to help me by reposting, sharing, liking, and buying a book.
The stock and cryptocurrency markets have definitely seen better days, but for most people like my sister and I, this is a buyer’s market. Just meaning that this is the best time to buy things you have always wanted, such as Apple, Tesla, Airbnb.
Although this is a buyer’s market, please make sure you continue to research the stock you are about to purchase. I understand that some of you may want to buy the stock, which is now $0.30 a share. However, just a few months ago that same stock was $3- $5. With the pandemic still occurring, the decrease could be pandemic related or due to being overvalued. There’s no telling what the cause it, but it’s better to research and identify what caused the increase or decrease, so you don’t loose everything you have invested in that stock.
My ultimate Top Six Stocks and Top Three Cryptocurrencies, which I believe will excel for years to come, are listed below. These stocks have done well before, during, and are expected to do well after. Below I provide the company, tickers and
Top 6 Stocks
1. Apple (APPL)- INFORMATION TECHNOLOGY SECTOR – Current price per share $168.64. Dividend- $0.88 per share.
Apple is well known for developing iPhones, iPads, Apple Watches, computers, and technology to assist us with surfing the internet, designing flyers and books, and completing work or daily activities via the World Wide Web.
2. Airbnb (ABNB)- CONSUMER DISCRETIONARY SECTOR- Current price per share $166.53. No Dividend.
Airbnb is a hospitality hotel/hostel/vacationing in a home type of business. Consumers are able to stay in the homes of people who live or own property in the city, state, or country they live.
3. Ford (F)- CONSUMER DISCRETIONARY SECTOR-Current price per share $17.55. Dividend- $0.40 a share.
Ford is a car company that manufactures Ford vehicles. Interest in Ford has been increasing lately with the anticipation the company releasing its electric vehicles this yea.
4. Equity Residential (EQR)- REAL ESTATE SECTOR- Current price per share $86.38. Dividend $2.41 a share.
Equity Residential provides a way to invest in Real Estate without having to buy property, fix it up, and then resale it. There is nothing wrong with buying and reselling property. You just have the necessary resources to do so, which is why some people choose to invest in stock compared to the buying property.
5. ZipRecruiter (ZIP)- CONSUMER DISCRETIONARY SECTOR- Current price per share $21.43. No Dividend.
ZipRecriter is a web based employment database. It helps employers market open positions and jobseekers apply for those same positions. Employers can list information about their companies, reviews, and helpful information to assist individuals with researching opportunities. Individuals can upload their resumes, cover letters, and setup notifications for certain positions.
6. Discover Financial Services (DFS)- FINANCIALS SECTOR- Current price per share $124.14. Dividend- $2 per share.
Discover Financial Services is a credit card company. The company has cash back options, access to your credit score, and incentive programs for using your credit card or referring others.
Top 3 Cryptocurrencies
1. Bitcoin (BTC)- Current price per share $42,413.35
2. Ethereum (ETH)- Current price per share $2,923.36
3. Solana (SOL)- Current price per share $96.52
How do you create generational wealth when you don’t even consider yourself wealthy? Well everything and everyone has a starting place. You have to start somewhere to get somewhere else.
Let’s take Master P for example. Master P is the definition of a true hustler. He is a rapper, owned No Limit Records, makes movies, invested in Rap Snacks, has Rap Noodles and Chips , Uncle P’s Seafood and Fish Fry, promoted Stock BossUp App, and more.
His entrepreneurial spirit is seen within his sons Romeo and Hercy. Just listening to them and watching them is a clear indication they are creating generational wealth. They are receiving and passing down the torch of financial wellness to family and others, which is a true blessing.
Let’s break down generational wealth to get a further understanding. Generational deals with family lineage; A grandfather, his son, his son’s children, and his great grandchildren. Generational also deals with individuals who are born within the same generation, so baby boomers and Gen Z are examples of this. Wealth is having an abundance of something. You have more than enough of it whether it’s love, family, healthy relationships, and money.
Generational Wealth is either family lineage or a generation of people who have an abundance of love, family, healthy relationships, and money. For this article, we are going to focus more on the money aspect and how to get generational wealth by investing or creating a routine deduction from your bank account to go into your investment account.
Ways in which you can create generational wealth is by investing in businesses, creating a business, creating a custodial account, Investing in a 401K or 503B, Roth Account, life insurance, supplemental life insurance, and a Savings Account. Now there are definitely others ways to create Generational Wealth; however these are the areas we will focus on.
Investing in businesses and creating a business provides a way for you to get a return on your investment, especially if the business is very successful. You can invest in startup businesses, stocks, IPOs, and calls and puts. Do your research to identify the best strategy that works well for you.
A Custodial Account gives you the ability to invest in stocks, mutual funds, etc. for your child or individual under the age of 18 or 21. Just know that once you transfer funds into this account, it can only be used for trades associated with the individual you created the account for. You are not allowed to withdraw money or transfer money or stocks from this account.
401 k and 403b plans are company based retirement plans. A 401k is used for For-profit companies and a 403b is used for non-profit companies. These plans assist you with setting aside a certain amount of money from your pay check to go into retirement. Some companies will match your contributions between 3 and 6%. Also with these accounts, you do not pay taxes on the funds until you withdraw it.
A Roth Account is an individual retirement account. You can set up a certain amount of money to be taken out of your checking or savings accounts. Taxes are taken out this account immediately so you will not owe it in the future. Now if you work for the state or federal government, their retirement plan is a Pension. There is also an additional retirement account called deferred compensation. These accounts are very similar to a 401k or 403b plan.
When you are employed with a business on a full-time basis, they usually provide you with life insurance after you make it past your probationary period. The insurance is usually 1x’s your current salary. Some families need more than this to help sustain themselves for a year or two after a loved one has passed away. If this is the case, you may want to consider supplemental life insurance. You should work toward identifying how much debt you and your family will have if something happened to you today. This would help you understand how much additional insurance you will need to help you take care of these responsibilities.
The last account that everyone should own is a savings account. I’ve listen to Suzie Orman and have read Rich Dad, Poor Dad and Think and Grow Rich. Some of these books and individuals stress the importance of law of attraction, saving up to 6 months of funds to pay for monthly bills, and paying yourself before you pay other people. This is the same for a saving account. Try to save 3-6 months for an emergency. You can also have different savings accounts which you pay different thing from, such as bills, recreational activities, and emergencies.
My last suggestion is that you should add beneficiaries to your accounts so it will be easy for them to access your accounts if something happens to you. Most of the accounts above will allow you to add one or more beneficiaries.
The information above provides ways to create generational wealth. Of course, financial education is the number one thing that should accompany this information. Financial education starts at home. It helps you understand how to save, manage your accounts, and choose things that best fits your needs.
Feel free to check out my book: From 500 to Well Over 700: How to Save Big and Increase Your Credit Score. The link is provided below.
Melica Niccole 