Doing taxes is never fun. But each year, I find that our income has become more diversified than the previous. We now earn more than 7 streams of income — not counting my salary. A salary is great if you don’t mind full-time work. But it can become an unhealthy addiction. You can break the…
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Yieldstreet Review 2022: Diversified Alternatives for Passive Income
This Yieldstreet review was updated on 12/28/2021 Yieldstreet empowers ordinary investors to diversify into high-yielding asset classes once reserved for the wealthy and institutional investors. Marine finance, commercial real estate, legal finance, supply chain finance, and private business credit aren’t new types of investments, but they are relatively new to retail investors. Yieldstreet’s team has…
Four Fintech Obituaries
I’ve come across hundreds of fintech startups and financial products over the years blogging. Founders and CEOs pitch me over email and in person at conferences. Marketing firms looking to drum up exposure for their clients email me constantly, hoping for a guest post or mention on RBD. I decline most pitches and never hear about…
Here’s How I’m Investing Each Month
I’ve maintained a long-term buy-and-hold investing strategy since about 1995. The month-to-month details have changed quite a lot over the years, but the basic principles are mostly the same: Invest first, spend second Max out tax-advantaged accounts first Invest in taxable accounts second Keep transaction costs and stock sales to a minimum Diversify income streams…
How to Prepare for the Next Crisis While Times are Good
Crises come around every so often — personal crises, family crises, national crises, political crises, market crises, and global. The events are often predictable, but their timing is not. Scientists predicted a virus such as COVID-19 could infect humans and cause severe health and economic consequences. But no one knew the specific date, where it…
Single-Income Lifestyle, Multiple-Income Life
I spent 2008 getting to know my future spouse. In the late summer, we had a pragmatic discussion about how each of us wanted our futures to look. There was a lot of overlap, which was a relief at that point in our relationship. The future Mrs. RBD earned a Master’s degree and had a…
10 Wise Investments for a Cash Windfall
The U.S. government is borrowing $1.9 trillion to provide pandemic relief and stimulate the economy. A big chunk of that will be direct payments to Americans. I won’t get into the details of who gets what; you can find that here. Long story short, many Americans will get more than a thousand dollars deposited to…
Don’t Let an Oppressive Mortgage Prolong Your Career
A former manager was into office gift-giving. Most of the team was over 50. As a joke, she gave everyone a pocket guide to texting acronyms. The “older folks” were still learning about terms like LOL, TL;DR, LMFAO, OMG, and WTF. This was around 2014 before we had our third child. Flipping through the pages,…
How I Quit My Career at 39 with Out-of-State Rental Properties
The following is a guest post by Eric Hughes, who writes the blog Rental Income Advisors. Eric left his corporate job by creating passive income with out-of-state rental properties. He owns 18 properties that produce nearly $70,000 per year. Eric explains how rental properties can be a shorter path to financial independence than a traditional…
8 Alternative Investment Ideas for Asset Diversification
Consider these alternative investment ideas to diversify your assets. Diversification is said to be the only free lunch in the investment world. If your stock portfolio is heavily weighted toward one company, you can reduce your risk by purchasing shares of other companies. The same is true for asset classes. As your stock accounts grow…
Roofstock Review 2022: Build Wealth Through Real Estate
This Roofstock review was updated on 12/28/2021. Roofstock is a real estate property marketplace specifically designed for investors. Real estate investors can search for, analyze, and purchase profitable single-family rentals (SFRs) from the convenience of a computer or phone. Roofstock provides an end-to-end experience that enables investors who live in high cost of living areas…
When to Refinance a Mortgage for Maximum Benefit
A mortgage refinance can be an excellent way to increase cash flow in your monthly budget if the numbers work. But how do you know when to refinance a mortgage? Spoiler alert — it depends. I’ve gone through five mortgage refinances since 2006, and I’m working through number six now that rates are at historic…
24 Small Investment Ideas to Cultivate Wealth
There’s no shortage of small investment ideas now that financial platforms are finally catering to investor demand. Many of the asset classes we take for granted today weren’t readily available to beginner investors more than a decade ago. Access to commission-free online brokers, fractional shares, and innovative exchange-traded funds (ETFs) has broadened the universe of…
AcreTrader Review 2022: Farmland Investing for Income and Growth
This AcreTrader review was updated on 12/28/2021. About 60% of American farms are owner-operated. That leaves about 40% of farmland that’s rented or leased to farmers by landowners. The majority of farm landowners inherited the land and have either retired or have no interest in farming. Since farmland is commonly passed down to younger generations and…