I hope everyone has a merry invest-mas tomorrow. What this means is that you are no longer investing in things without a return on your investments. This means friendships, relationships, partnerships, feelings, stock, and other things that decrease your chances of gaining a wholistic wealth management approach on life
Photo by David McBee on Pexels.com How do you create generational wealth when you don’t even consider yourself wealthy? Well everything and everyone …
Creating Generational Wealth
This morning before work, I created this flyer, not realizing how this whole concept would come into fruition. As the day went on, I had the opportunity to speak with a passionate soul who is just as dedicated as I am in having and using multiple gifts. Sometimes, people with multiple gifts and purposes are told that they have too many gifts or are doing too much. Which is not true. This pleasant soul touched on creating multiple streams of income. This was definitely a sign that I was on the right path. We were meant to speak and share our ideas of generational wealth, streams of income, our passion, and being multi-gifted.
I am using my gift of writing to provide details on creating multiple streams of income. The goal is for individuals to identify current streams of income, identify future streams, and to work towards having at least 7 streams. This is a work at your own pace, income generating plan.
Feel free to subscribe to my monthly subscription page to get information on writing, publishing, and creating different streams of income.
Have you considered creating different streams of income? Creating different streaming not only provides you with increased income if needed, it also allows you to create passive and active income.
There are seven upcoming stock splits that everyone should know about, especially for those who have been following these brands and waiting for the price to go down. Well this is your chance to grab a few shares of some major players at a really low price
Take Amazon for example, this company has been a trendsetter for some years now. It gives individuals the ability to sell their products online, authors an opportunity to sell their books without paying out of pocket for printing costs, and subscribers a chance to catch up on their favorite shop on Amazon Prime. Did I mention they also deliver groceries and have a pharmacy as well? Talk about your one-stop shop. With the new union in Staten Island, New York and potential ones in the future, only time will tell the continued success of this company. However, I assume they will be doing even more in the future. One thing they many want to consider is making sure they are not creating a monopoly and they are abiding by the antitrust laws.
Next there’s Google. What can I say about this company? This successful company has allowed students to utilize google docs without paying a subscription fee, travelers to utilize google maps to plan trips, content creators to use google drive to upload large projects, Vlogers to connect with YouTube, and a host of other things. Of course there is a looming recession and inflation in full play, which all companies have and will make adjustments for, but Google always seem to come out ahead
Next is Tesla. A company that a lot of other Electronic Vehicle (EV) makers try to compare to or exceed. When a company is the first to do something, they tend to be held at high regard when it comes to their business, brand, products, services, and other matters as well. Take the owner, Elon Musk for example. He’s at a stage in his life where he can tweet out information about Dogecoin and stock orders increase. Currently, he is in the news regarding a bid to buy Twitter. There has been much said, positive and negative. We will see how this all plays out.
Next there’s Nintendo. Many of us investors, parents, aunts/uncles, or family friends remember Nintendo from either having the first game set sold or buying some later version of it. Game sets have transitioned completely from Atari (Generally moving characters left, right, up, or down) to Game Boy, Super Nintendo, and Nintendo Switch. With having over 100 years, almost 200 years, in this industry, who would expect things to change now? Now things do change, as we have seen over the years with Nintendo. However, it can be assumed that Nintendo will be around for years to come. At least that is my hope.
Who doesn’t like Spotify, or a streaming service with new and old school music at your fingertips? I know I do. The era in which I was born was heavily populated with cassette tapes. You know, the cassettes you had to fast forward and rewind to play your favorite song over and over again. This was the way of life, who could want anything more? Matter of fact, when I was around 8 years old, record players were a big deal, well in my household it was. My sister had a record player and my mother had an entertainment console, which connected her record player to an 8 track player. Luther Vandoss blared from her entertainment console every Saturday.
Now imagine years later and having music at our fingertips because of companies like Spotify and their streaming service. Now there are competitors, such as: Apple Music, Tidal, Amazon music and more.
As profiled on cnbc, “Kinetik Holdings Inc., formerly Altus Midstream Company, is an integrated midstream energy company in the Permian Basin. The Company provides gathering, transportation, compression, processing, and treating services for companies that produce natural gas, natural gas liquids, crude oil and water. The Company operates approximately 2 billion cubic feet per day (Bcf/day) of constructed cryogenic natural gas processing capacity strategically located near the Waha Hub in West Texas. The Company also has interests in four built, long-term contracted pipelines transporting natural gas, NGLs, and crude oil from the Permian Basin to the Gulf Coast. It has long-term dedications of approximately 850,000 acres for gas, crude oil, and water midstream services from 30 active producers in the Delaware Basin. The Company’s Midstream Logistics business also includes its crude oil gathering, stabilization, and storage services throughout the Texas Delaware Basin.”
“the world’s largest retail gaming and trade-in destination for Xbox, PlayStation, and Nintendo games, systems, consoles & accessories.” I remember vividly last year when GameStop’s stock was a Wall Street Bets sensation and people seemed to pour their money into this company without any evidence to support that the company was doing well. Even people who had never invested in this company was talking about investing. Some investors considered it a pump and dump. Now, Wall Street Bets’ agenda seemed to save GameStop and AMC from short sell companies who intended to push the price up so they could sell it. Now as far as GameStop and how it’s doing now, one must take in consideration of Analyst Colin Sebastian’s comments about “until the company ‘more clearly articulates new management’s business strategy,’ which will enable investors to better evaluate the company’s ‘intrinsic value and prospects for future free cash flow generation.’”
Transitioning or setting yourself on a pathway to success can be very challenging. You have to give endless time and money into making your dream come true. Once that dream comes true, many people never see all the sacrifices you have made, the rejections you have heard, or the feeling of maxing out your credit cards to the point of no return. Well, there’s always a point of return and that’s called success or return on investment.
If you treated your life and your business like an investment, how much would you be willing to invest in yourself? I have been in the publishing industry for about 12 years now and you wouldn’t believe the amount of people who expect free things. From attending book festivals for free, wanting free publicity, to wanting free books. Now don’t get me wrong, free things are nice, but you often get what you pay for. It often makes me wonder how much are these individuals willing to invest in themselves. How much are these individuals willing to help build a community in which we reinvest in each other.
Years ago around 1920, during the times of Black Wall Street, it was said that the black dollar circulated within the community at least 36 times. Do you know how much we could build as a community if we reinvested in our own neighborhoods just by turning our passions into profit?
Well, I’m here to tell you investing and re-investing in yourself and your community can help you turn your passion into profit. Turning your passion into profit is about doing what you love and getting paid to do it. This could be in terms of public speaking, investing, writing books, or other ways in which people will pay you for your expertise.
What I want you to do is assess what you love to do and ask the following questions: Is this something I love? Can I make money from doing this? Have I been making money from this passion? What is holding me back from doing this full-time or part-time? Am I being realistic with myself?
Now I would never tell you to quit your job to pursue your passion. How else would you help fund your passion? I will say where there’s a will, there’s a way. You have to evaluate your goals, objectives, and determine what’s best for you.
Check out my latest book release coming soon. This book can assist you with organizing your passion and working toward bringing it to fruition.
One thing I know about investing is the importance of being able to discuss your investments with like mind individuals. Like mind, meaning those who are investing or want to invest in the stock market or Cryptocurrency.
Investment groups or investment discussion groups are really great to be a part of. They allow you to meet in person, virtually, by email, or text messages to discuss your investments and gain clarity to those investments.
Check out my new blog at EdwardsFamilyEmpowerment.blogspot.com which discusses investment discussion groups and social media stock groups.
There are many steps to Invest. Above, I provide my top five list on how to be successful in investing. The very first step is to research how to invest. This is the most important step. This step teaches you the fundamentals on investing.
Depending on your research methods, this may take you a long time to complete . However, we all know that learning never ends, so some of the processes can overlap each other. You can learn as you invest.
The next step is to setup your investment account so you can start investing. When doing so, you will have to provide the company you are working with your social security number. This is for tax purposes.
Once your account is set up, use the site to research stocks. This is the third step. You can also use Yahoo Finance, Motley Fool, and other reputable sites to research this information. In 2022, The Dream Stock Exchange will make its debut on the stock exchange ( https://dreamex.com). Dream “will focus on small business capital formation and diversity using the power of the American investing.” Make sure you check it out.
The next step is to create or join an investment support group. This group can be made up of friends, family, and even strangers. This will allow everyone to discuss stocks in detail and get others opinions.
The last step is to have fun. Investing should be fun and you should only invest what you can. Have fun, but not too much fun. You also have to be responsible while investing.
One thing I’ve heard from individuals, especially those who are successful, is to create different streams of income. Creating different streams of income allows you to diversify your income streams.
I remember when I worked for a non-profit organization about 8 years ago. Our Workforce Development Director talked with the staff about not relying heavily on funding from one entity and diversifying our income streams as an organization. This really worked in her favor, because there was one funding source that had decreased drastically. Now there were a lot of changes made and she had to lay off some staff. However, she brought those individuals back once she had the opportunity.
Work
This is your main source of income. This income should allow you to pay the majority of your bills. This source should, but doesn’t necessarily have to, allow you to obtain health insurance, life insurance, and meet your basic needs in life. This also should be a job you enjoy. Have you heard the saying from Winston Churchill? “If you find a job you love, you’ll never work again.” This is true.
Side Hustle
The side hustle should be something you love to do to generate additional income. Whether it’s creating and selling books, baking and selling cookies, or creating marketing material for companies and individuals. Now a side hustle can definitely turn into permanent work. It just depends on you, your market, and the needs of your customer. Once you figure out if there’s a market for what you’re selling, you’ll be able to determine your next steps.
Investing
This allows you to sit back and let your money work for you. Now there is some work involved, such as researching companies, selecting a great investment, and continuing to watch the market and what’s going on in the news, and reallocating your investments if needed. Work on finding a strategy that works for you and your pocket.
~Work, Hustle, and Invest
Melica Niccole 