My dear dudes,
As promised, I will start to release reports on my online income. I won’t necessarily release one every month, as I will only release one if I make least $500 that month. As for December 2016, I’ve hit $1000, so it is actually ideal to start my reports on online income. I am projecting to do $20k on online income alone, during 2017. I think that online income may become a cornerstone of my Early Retirement!
My dear dudes,
After my reflection on 2016, it is time to clearly and realistically define my goals for 2017.
I am working towards 2017 being one of the most productive years of my life. I want to work mostly on 4 different angles: my finances, my self-development, my health, and of course, my blog. So, without further due, where we go…
My dear dudes,
Many thanks for sticking around during 2016, subscribing the blog, sending me supporting messages and opportunities to do business together. I am very happy that I revitalized this blog and put our community together. I’ve received a lot from you guys, and 2017 will be an explosive year. First, I hope that our recently created Facebook page continues to grow, as I think it is a great way to deliver news first-hand. Second, I will add a lot of summaries and reviews on the Books page (probably in chunks of 2/3). Third, I will finally publish my own book and exclusive articles on how to do some extra income, online.
I started Fromcentstoretirement.com in March 2016 and this has been a truly amazing journey. I engaged with awesome thinking-alike people, was provided with multiple opportunities and the blog has helped me tremendously in keeping disciplined with my finances, looking for new income opportunities and keep updated regarding the world markets.
This page will teach you the most important stuff I’ve learned after blogging as a pro (despite I haven’t made that much money with the blog…) for 9 months. This is BS-free, direct information you can apply right away. Here we go:
Rule #1: You have views when you create value for viewers
I personally think that the best way to create a business today is by providing high value to people. Give them what they want. Yet, many businesses are still focused on spamming people, squeezing costs and improving margins, in the hopes that they sell a lot. Honestly, sounds wrong to me; I’d rather focus on delivering what people want and make them happy, creating recurrent costumers that will stick with the brand for years.
The vast majority of blogs out there are not businesses. Take my own example: even though I try to monetize my blog, I don’t really blog for money. I blog to keep myself motivated, to engage with people, to improve myself and to have people reading what I write and extracting value from it. I am a true believer of karma. Give so you can receive. That is why I intend to assemble one of the biggest online collection of summaries and reviews of books on personal finances (see it here, if you haven’t yet). Continue reading
Book: Rich Dad Poor Dad
Summary : here
In the book Rich Dad Poor Dad, Robert Kiyosaki introduces several simple, yet profound concepts pertaining to personal finances and how to manage them. The book is very digestible and covers a lot of aspects of personal finances for its relatively short size. It took me about 5 days to read the book, part-time. The book is great at showing the difference between the rich and the poor, even though it doesn’t describe a profile for the poor and the rich. Using its own experience, Robert Kiyosaki explains the advice he got from his dad and his friend’s dad (called rich dad in the book), and how it went on to influence his life.
The chapters are very well balanced and present a crucial idea, each of which was introduced by the rich dad.
These ideas are: 1) be financially educated, presenting mistakes that people commonly fall into, when they are not financially educated, 2) the importance of having a business apart from a regular job, and how that is crucial in the process of building wealth, 3) examples how deep value deals can be arranged and how the rich reach them, 4) how money can work for people rather than people working for money and 5) what obstacles there are to build wealth. Overall, I relate to Robert Kiyosaki’s story and second most of his claims.
I personally recommend this book to everyone who wants to learn fundamental aspects of personal finances and managing finances in general, as well as people who want to know what to do to start building wealth.
See more books, reviews and summaries here!
This is my summary of the book Rich Dad Poor Dad. Keep in mind that this is my summary, i.e. it may not be an accurate summary of the book.
Robert Kiyosaki introduces the context, says that his poor dad went to Stanford and earned a PhD, and his rich dad never finished the eight grade. Having two dads advising him so differently regarding money turned out to be very valuable for Robert Kiyosaki and made him think more in the long run. Then, he goes on to explain more differences between his both dads and their attitude regarding money. Kiyosaki chose to listen to and learn from his rich dad, who taught him 6 lessons over five years, described in the next chapters.
Chapter 1: The rich don’t work for money
At a very young age, Robert Kiyosaki had his first business partner, his schoolmate Mike. They worked for Mike’s dad, who taught them lessons on how to make money. The first rule they learn was that the rich don’t work hard for money, their money works hard for them. The first thing Mike’s dad did was to pay Robert and Mike 10 cents/hr so that they could see what is like to get a salary they find short – and imagine how would that be if multiplied over the time-span of 50 years. Then, rich dad had them working for free, which taught them two lessons: 1) most people are guided by fear (of not being able to pay for their bills) or desire (e.g. greed) and 2) we need to think of alternatives to make money, which Robert and Mike did – at a very a young age they set up a small library room, where they provided leftover magazines to other kids for a small fee.
We investors are always trying to figure out what and when the next bubble and crash will be. If we guess correctly, we will have an edge, because we’ll be prepared to scoop up a lot of assets at a much lower price.
Although I foresaw a big market crash in the next 2/3 years, I think that the fact that Mr. Trump was elected president of the US will change this quite a bit. I believe that markets will actually start to go up, the American economy will recover and the European economies will simply follow the pattern.
But what will cause the next crash? If you know about economy, you know that crashes are inevitable, because the economy works in cycles. And my gut has been telling me that the current markets are too high to be sustainable.
But what exactly will cause the crash? My answer may be a little bit out of the box. I believe that the next big bubble will be higher education. Let us take a look at the facts. So first, let us recall recent history:
Ladies and gentleman,
I’ve been investing a lot of time into this blog, so that your experience here is the best you can possibly get. Yesterday itself, I worked on the blog the whole day. I ordered a new logo for the blog, adjusted the margins so that everything reads well, etc. This is why the blog was offline for a few times in the day.
Also, make sure you visit my net worth page: www.fromcentstoretirement.com/my-net-worth/ ; some people asked me repeatedly for a way to back trace my monthly reports easily, so there ya go! Also, the books page also looks much better now.
You can notice these aesthetic changes right away, but I have some news too. I will include an Article section for guests and articles from other sites on the internet, making sure that only the best among the best are selected. Essentially, I want people to be able to follow the latest developments on macro-economics in the world, so that they can take them into account when investing.
You guys know that I preach frugality a lot. But I’ve also told you many times that it is all about enjoying the road. Money is not the end goal. Many people would trade money for meaning relationships, health, experiences, etc. If you’re working towards an early retirement, you have to learn how to enjoy the road as well as you meet your expectations and goals, while being frugal.
While this may sound difficult or counter intuitive, I bring you a nice example. I recently flew from Lisbon to Frankfurt in business class, as I was able to upgrade my coach ticket with mile points. I enjoyed the whole thing pretty much, and I would like to share it with you!
In Lisbon, the first / business class lounge is pretty much crazy. High quality espresso and all sorts of sandwiches, fruit, all newspapers and magazines, you name it. There is tons of space too. The chairs are super comfy:
Lisbon first class lounge