Show Notes
In this episode, I’m going to share some of my success and give you an overview of the different ways you can make money. While I made 25% return on investment this month, I also made a really dumb decision. I had tried buying a call, only to sell it after the price adjusted. I chickened out from my strategy and missed out on hundreds of dollars. All that being said, I still had a huge month, with my income being about 25% of my investment. This month I also learned the pain of a bear market as my stocks went down considerably. Then I sell them next month for a big loss, basically wiping out all my gains. But we will get to that next time. I added $7000 my portfolio this month. I took money that I could have saved for something else or spent on something else and decided to put it in the market. The big risk! You are going to miss big moves with this strategy. If you’re doing calls and puts, you are going to naturally buy higher and sell lower than what is available. That is the nature of this strategy. That’s not necessarily a bad thing, because you are making regular money each week. There’s a different kind of value. You calls and puts ONLY execute when they are selling low and buying high. That’s literally what you are committing to. Important ways to mitigate this risk: Don’t buy into the hype of wide swings in the given stock. Plan on only buying stock you are good with holding, or plan on only buying stock you are willing to play with. My example this month is AMC. I wanted to be in that stock for the high premiums on the options. I didn’t want to be Should I make a WhatsApp group? Or a group me group? This was not necessarily an easy choice. Define Bonus Money Different ways to make bonus money - How I define Bonus Money Second job Own business Podcast Related field Non-related field Stock investing Real estate I. Introduction A. Brief overview of the importance of earning additional income B. Explanation of the different ways to earn money being discussed in the talk II. Second Job A. Advantages and disadvantages of working a second job Some advantages of working a second job include: Extra income: The most obvious advantage of working a second job is the additional income it provides. This can be especially useful for meeting financial goals, paying off debt, or saving for the future. Diversification: Having multiple sources of income can provide some financial security and can help to mitigate the risks of relying on just one source of income. New skills and experiences: Working a second job can also provide opportunities to learn new skills, gain valuable experience, and build your resume. Some disadvantages of working a second job include: Time constraints: Working a second job can be time-consuming, and it may require you to sacrifice time with friends and family, hobbies, or other leisure activities. Stress and fatigue: Balancing multiple jobs can be challenging, and it can lead to increased stress and fatigue. This can have negative effects on your mental and physical health. Potential conflicts with your primary job: In some cases, working a second job may create conflicts with your primary job. For example, if your second job requires you to work during the same hours as your primary job, it could lead to conflicts with your employer. Less job security: Depending on the type of second job you have, it may not provide the same level of job security as your primary job. For example, if you work a second job on a freelance or contract basis, you may not have the same job security as you would with a permanent job. B. Tips for finding and choosing a second job C. Strategies for managing time and balancing multiple jobs III. Small Business Ownership A. The potential rewards and challenges of owning a small business B. Steps to take when starting a small business C. Common mistakes to avoid when running a small business Affiliates Pat Flynn makes all his money here. My experience is that it doesn't work without sca
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This is my report on June 2023. This was a really good month. They're not all like this. They're not all going to be like this. But it was pretty awesome. The stats are here: Total passive income for Month of June 2023: $11,362.17 Total money invested so far: $16,272 Total passive income for 2023: $15,932.79 Total Monthly rate of return: 69.83% Yearly cumulative rate of return: 97.92% Money withdrawn from the investment account: $3,600 This month was the first month that I withdrew money from the account for living expenses. That's the whole point, right? My goal is to live off of this passive income and be able to invest any money that I make.
Total passive income for Month of May 2023: $1,875.15 Total money invested so far: $16,272 Total passive income for 2022: $3,318.62 total Monthly rate of return: 11.52% Yearly cumulative rate of return: 20.39% Welcome to the My Bonus Money podcast, where I discuss how educators can make side hustle money. Today, I'll report on my passive income for May 2023 and share my new investment strategy using tips from mybonusoptions.com. In May 2023, I earned $1,875.15 in passive income with a total investment of $16,272 so far this year. My monthly rate of return was 11.52%, while my yearly return reached 20.39%. My current strategy involves following trade ideas provided by mybonusoptions.com to better understand investing and improve results. Not every tip works out as expected but learning is the goal here. For example, I tried an AMC long put trade idea which you can find in the show notes for this episode (not financial advice). The concept behind this strategy is creating a long put on AMC with a $6 strike price to potentially profit from a decrease in stock price while managing risk through setting stop losses. After purchasing and later selling the options contract at different prices ($1.01 when bought; $1.14 when sold), I achieved a return of 12.87% on the investment despite some losses along the way. To learn more about these strategies or try them yourself with paper trading before committing real funds, visit mybonusoptions.com/blog (delayed by seven days) or subscribe for real-time access at just $50 per month. If you want to start investing with only $200 and learn more about generating bonus money, download our free course at mybonusmoney.com. Please remember that nothing shared in this podcast should be considered financial advice—consult professionals for guidance tailored specifically to your situation.