Ep #100 - How To Build "ATM Machines" Inside Of Your Personal Investment Accounts( Push Buttons On Your Phone!)
Season 2 Episode #100. Not Me, But You! Podcast.
You can follow me/connect with me on X at: Waypa Today.
"Your time is your most valuable asset. More valuable than your money, your assets, your retirment account, your home, your business." Wrap your brain around this concept: Your entire life revolves around cash flow!
3 types of personal accounts needed: 1) regular brokerage account. 2) Traditional IRA account. 3) Roth IRA account. You select the brokerage platform you want to use.
Push buttons on your phone and make money! It's simple but not easy, unless you know how to do it (as with anything in life).
Start with learning to sell simple options contracts (cash secured puts or covered calls). Then take the "premium" earned (also cash flow) and use HALF of it to buy high yield ETF's. Then take the dividends from the high yield ETF's and use HALF to put back into FREE shares of the thing that paid you the dividend (this lowers your overal cost basis). Also take HALF of the dividend money and invest it in something else (that is LESS risky).
You can do this process in ALL THREE of your accounts. Two of those accounts (traditional IRA and Roth IRA) will NOT be taxable. So NO TAX on the gains inside of those two accounts. The only time you pay ANY tax is when you withdraw money from the Traditional IRA. Or if you attempt to withdraw "early" from your Roth IRA(before age 59 1/2 and/or if you have not had the account open for at least 5 years).
Would you like to get off of "the hamster wheel" where you work for someone else for 40 years and PERHAPS you can then afford to retire? Start with this premise: "Most of what I think I know about money is likely wrong!" Verify your beliefs. Challenge them and test them.
Only 19% of Americans retire with a monthly pension check! So we need to learn how to BUILD our OWN "pension checks" so that we have cash flow each week/month.
You can use the Robinhood platform to buy "fractional shares" of great growth stocks like: Tesla and MSTR or ANY of the "Mag 7" stocks. This feature makes it more affordable for most people! Buy fractional shares of these stocks INSIDE EACH of your three accounts! And Robinhood will give you a 3% match (if you join their gold status program) inside your Traditional IRA and your ROTH IRA.
I'm not a financial advisor. This podcast is for education/entertainment purposes only. You will need to do your own research and accept responsibility for the results of any money you choose to invest. I love using Schwab.com to buy/sell stocks/ETF's/closed end funds/options. Schwab has a very user friendly app/website and their customer service is excellent. I can easily get to speak to a human being whenever I have questions.
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