Do you know anything about investing your money? A lot of people do not. The reason for that is that we are not taught in school how to do it. The only way to learn is to research it yourself. There are lots of books, videos, and audio on the subject. I personally started looking into it in my 40s. That is not entirely too late but it is a lot easier if you learn it much sooner.
With that in mind, I am going to share with you what I am learning. I am not an expert on the subject. I am only giving you my experience from researching and applying what I have learned. I started my research by looking into ways to make money online. I do pretty good but it is not a good way to build retirement income. I graduated to network marketing which is a really good way to build residual income from leveraging your business partners' work. By working 1 to 5 years finding business partners who educate others, you can live the life of your dreams. Treat it like a business and give back to your business partners to help them succeed and you will succeed.
I also looked into investing money into stocks. I bought some penny stocks and lost my money. It was a good learning experience. I still have the stocks because I refuse to sell until I have gotten my money back. I may wait forever and that is fine with me. I only spent/lost $60.
My wife's family has always used Edward Jones and she has an IRA account with them. So, I approached them and asked questions. I wanted to know how dividends worked, how you are taxed, and the fees associated with buying and selling stocks. I got a lot of good information including a complimentary book on how to invest your money.
My goal has changed from my own monetary investments to that of my children's. Instead of learning this for my own gain, I am learning and passing it on to my children. I encourage you to do the same. If you are reading this as a young man/woman, I encourage you to read this book and apply its teachings today!: David Bach's The Automatic Millionaire.