Time is the most precious asset: know how to monetize it
Why you should always monetize your time…consider a side hustle. Any professional should always monetize their time because time is the finite resource that you do have. You only have a certain amount of time to devote to earning income. Anything that you were doing with your time that does not earn income or bring you some type of improvement in your life or pleasure you should probably not be doing. Calculating the amount you earn per hour is highly beneficial for deciding on if you should take a certain position or ask for more money or if you should be doing the activity that you were planning on engaging in. For example: It takes me approximately 2 hours to clean up my driveway after a massive snowstorm. If I were working as a moonlighter/contractor for those two hours I would earn anywhere from $320 to $640. It is not…
Assets build wealth: how the fiscal mind gains assets
Stock market versus real estate A common question that comes up is the stock market yields versus the real estate market yields. Honestly they have similar yields and both increase in value over time. You just need to invest and not take it out during a dip. They will both fluctuate up and down. Time invested is the most important factor. Similarities are: Yields Go up over time Fluctuating You could lose if you pick wrong You will be taxed in some way Both outpace inflation Better to be in sooner for longer Ride out dips Could loose investment if value goes to $0 Differences are the following: Stocks: More fluid (quick to get cash back) Taxed as income and as gains each year Many different types Many different ways of making income (ETFs, options, individual stocks, mutual funds, bonds, mixed securities, commodities, REITs, etc) Real estate: Less fluid (takes…