Hello, in
this post I want to explain to you, in a simple way, what are the so-called
PASSIVE INCOME, the benefits of COMPOUND INTEREST and the different TYPES OFPASSIVE INCOME.
I will also
talk about which ones I think are really useful for almost all people and not
those wonderful tales transmitted by many experts, such as, for example, those
who talk about buying houses without money through mortgages, and then renting
them to pay back the mortgage with the rent and also earn a supposed passive
income, repeating the operation as many times as the imagination can reach. Or
those who sell that with an affiliation website you will earn automatically and
without doing anything thousands of euros per month in commissions paid for each
purchase made through your website. Or those who have the keys with their
infallible method, to make a living from trading with 2 hours a day.
Let's start
by explaining three simple and related concepts: PASSIVE INCOME, COMPOSED
INTEREST and FINANCIAL FREEDOM.
- Among the
PASSIVE INCOME we know for example property rentals, stock dividends, royalties
for intellectual property (books, courses, music, patents), income from
advertising on blogs or Social Networks and affiliate income from product or
service recommendations, among others.
- Regarding
COMPOUND INTEREST the concept is very simple, but wonderful once you understand
it.
If you
invest, for example, 50,000 eur for 30 years in a savings account that would
produce 5% annual interest at the end of 30 years you would have a total of
85,000 euros. But if you invest using compound interest, the first year you
would get interest worth 2,500 eur. Therefore, the second year you would not
invest 50,000 eur but 52,500 eur, and that 5% would be applied in the second
year on those 52,500 eur not on the 50,000 eur.
This would
mean that after 30 years of investment you would obtain a total amount of
432,149 eur compared to the 85,000 eur obtained without using compound
interest. It looks like magic, but it is simple mathematics. Therefore the
first lesson in any investment that you should engrave in your brain is to
invest using compound interest in your investments. The interest you earn
should always be reinvested to take advantage of its multiplying effect on your
future earnings.
- FINANCIALFREEDOM is defined as the ability to have enough passive income to cover your
expenses and achieve your goals without the need to actively work. It is the
ability to live the life you want without constant financial worries. In short,
the power to decide what to do, how to do it, with whom to do it, when to do
it.
Throughout
this post I will explain how I have managed to achieve this financial freedom
at the age of 45, and how for the last few years I live where I want, I am with
who I want, I work when I want and because I enjoy it, I have enough recurring
income to lead a comfortable and stress-free life (without great luxuries) and
I can devote all the time I want to my family and friends.
Besides the
fact that my life is practically solved, I think I will be able to leave
everything organized so that my children's life is also covered or at least
they can have a good cushion to help them choose to study or work where they
want, without the stress that comes from doing something out of necessity or
obligation.
Let's be
clear from the beginning, financial freedom is not the same for everyone. What
for me may be financial freedom by earning 7,000 eur net per month, another
person will say that if he earns 7,000 eur passively, having a job that offers
him another 3,000 eur more, it will not compensate him to earn 10,000 eur per
month and thus live better, but without having obtained that financial freedom.
Other
people will not achieve it even if they have 20 million in the bank, either
because they do not want to or because they do not know how. Therefore, when
talking about Financial Freedom, each person must think and design what would
be the age and the amount with which he/she could be considered financially
free and then decide the kind of life he/she wants next.
Let's start
with a little history, MY STORY, and how I have come to achieve the life I
wanted doing what I want, when I want, how I want and where I want. I have a
degree in Economics and a Master in International Business Management.
During the
master one of the objectives was to learn to create companies and simulate
creating a business from 0, very interesting and although the teachers
encouraged entrepreneurship, I think that 99% of students in the end what we
expected was to find our first job and work in a large company.
I was the
first of my class and before finishing the course, I already had a job, an
English multinational company hired me, the truth is that that first job that
you accept at the moment out of necessity and urgency conditions you, and if it
is as an accountant you will probably be an accountant all your life, if you
start in consulting you will be a consultant all your life etc.
Therefore,
I think it is important to think a lot about that first choice and looking back
I would even recommend young people to dare to reject a first job if they think
it is far away from what they would like their professional career to be.
Although the truth is usually, not knowing what the working world is like, you
accept the first offer and start working.
My first
jobs allowed me to earn a good salary, travel and have international
experiences working in many countries. The environment with young people, with
similar concerns, made you consider yourself lucky, despite working 12 hours a
day and constantly changing city or country. Those salaries that increased
every year allowed you to save and in parallel I was investing in one of my
favorite "hobbies", REAL ESTATE INVESTMENT.
I started
to buy cheap apartments in poor neighborhoods, refurbished them and sold them
with a capital gain. I loved buying an old house that had not been renovated
for more than 30 years, throwing it away and converting it into a modern house,
and the profits were interesting.
It was
curious, because although I dedicated no more than 5% of my time to it, it came
to a point that it gave me more money than my 12 hours a day at the
"official" job. But the fear of leaving a secure salary, where you
get paid month by month, makes it difficult to focus on what you like the most,
so I was combining the two things.
Besides,
buying apartments in cash required having money in the bank to take advantage
of opportunities and not waste time negotiating with the bank. I saw an
apartment and in 2-3 days I was already signing the deeds and starting the
renovation. The objective was to have the renovation finished in one month so
that in 2-3 months I could sell the property and buy another one.
It can be
said that this is where I started my first passive income business and for
years I continued this way, my official job and my "hobby" in
parallel. I can not deny that the results were very positive, as there was a
large supply of old housing and a lot of demand for updated housing and not so
many players doing what young people call today as "flipping", as if
the wheel had been invented to give it that name.
With the
real estate crisis of 2008, reality brought down the maxim that we all
repeated, "the price of apartments will never go down", and so when I
had all my savings invested in 4 properties bought and renovated to sell, in
summer 2007 it began to slow down and in 2008 the market fell as few crises I
have seen (and I also lived the crisis of the 90s but not in the same
proportion).
The time
for sale was extended to 6-8 months of the usual 2-3, you lowered the price and
nothing, in the end after a year of waiting, I sold one of them losing money
and the others I put them for rent, so there I began to know another source of
passive income, rentals.
You will
also find hundreds of videos where they tell you how interesting it is as a
source of passive income rentals, you get a tenant and ale every month 600-800
eur rent without doing anything.
In short,
throughout my life I have bought, renovated and sold more than 35 homes and in
one of them, which was supposed to be my usual home, I was also the promoter of
the same to raise the house of my dreams from design to finish its construction
and decoration.
A
reflection, not advice, because everyone approaches life in different ways. If
you live on a salary it will be more complicated to create wealth, to earn real
money. Salaries are designed to provide you with a means to live, good salaries
allow you to save and normal and low salaries allow you to survive. In
exchange, the company will squeeze the maximum of your time, of your life and
will demand that you compete, fight and sacrifice your life to reach your
achievements, a promotion, an annual bonus for sales, some objectives to avoid
dismissal, a greater social recognition but be clear, when you are not able to
offer the maximum or sometimes even by criteria not merely economic but of
business strategy, they will dispense with you without hesitation, the old
story that you retired where you started to work ceased to exist.
And in
Spain above all, in other countries not so radical, there is a problem when you
reach 45-50 years of age. For example, in my case it was like that, since in
the consulting sector you are already considered very old compared to the
average 25-35 year old, so you are fired and that's it.
The company
has no mercy or memory. If you were many years in the same company, maybe to
avoid a high compensation, they keep you in your position. As a freelance
consultant, when you are 45 years old, the company no longer counts on you and
if you are lucky you should try to make the leap in one of your clients in
which you worked, but it is not easy for them to hire a "young man"
with gray hair. I have many colleagues between the ages of 45-50 who have gone
unemployed and are now facing the harsh reality that the professional market no
longer hires people of that age despite excellent resumes. Another good reason
to start building a portfolio during the "productive" years that will
allow you to make a living if the job market pushes you out.
These years
of selling my skills to the highest bidder made me have savings to start
creating little by little my investment portfolio, almost 100% focused on real
estate as one of the best forms of investment.
In
addition, I decided to leave the world of being a salaried employee to have my
own company and I saw how incredibly thankless it is to be an entrepreneur,
with the demands of quarterly VAT payments, payment of salaries on the 28th
without fail, customers who pay 120 and 200 days even though the law indicated
shorter deadlines, even debts with public agencies as major debtors and bad
payers, when then you are required to pay a simple tax with a surcharge of 25%
if you delay more than a month to pay them.
As a
salaried employee you go on vacation and enjoy, on Friday the stress ends until
Monday. As an entrepreneur there is no vacation (payments and expenses do not
vacation and continue to be produced) and the stress lasts 24/7 for 365 days a
year. In addition, 3 out of 5 businesses die before 5 years, so it is not an
easy thing to start, but when you keep the business, it will be the source of
income of your life, at levels of income that almost never will offer you a
salary, and above all you will win to keep your personality to make decisions
and not have to bow your head to incompetent, insecure or capricious bosses,
you will do it to demanding customers but then you can decide if you want to
put up with them or not.
Therefore,
I think it is interesting to start with a fixed salary in a company where you
can learn without risking your scarce resources, set a fixed savings goal as if
it were a mortgage payment and in parallel start with business ideas that you
like and where you enjoy to see if the theory becomes reality and that
initially residual source of income could become your source of income for
life. I at least started my saving skills this way, working for others, saving
and starting to invest in real estate.
Starting a
business in parallel to keeping your salaried job takes a lot of stress away,
knowing that you have the cushion of a steady paycheck versus the stress of
gambling it all away for months without any income and not knowing if you will
finally have to throw in the towel after months of trying. But as I said,
everyone has their own level of risk aversion, their family financial cushion,
their personal situation, etc. It is not the same to start a business with
parents who will support you if you fail, or to start a business as a single
person than with children with high monthly fixed expenses.
But let's
analyze the different forms of passive income that are said to exist and that I
have tried over the years. Also at the end of this article I will give you my
personal recommendation on what I think is the best way to generate passive
income and obtain financial freedom.
REAL ESTATE
(BUYING AND RENTING). Let's look at buying and selling real estate and rentals
as one of the most recognized ways to earn passive income.
BUYING,
refurbishing and renting in Spain, which is the market I know best, but I'm
sure it will be very similar in other parts of the world, requires initially
having quite a lot of cash (in the old days much less than today).
I love the
gurus that are on social networks talking about starting in this sector with
other people's money, that of the banks, and I would love to see one of those
influencers go to a bank to apply for a mortgage on an apartment to be reformed
that is not even for a permanent residence (so the bank will give you a maximum
of 60% of the appraisal price, so you must have the remaining 40%, plus taxes,
mortgage, notary and registration fees, plus reform costs, 20. 20,000 eur if
you do a facelift and 40,000 eur if you do a complete reform, plus expenses of
community of neighbors, local taxes, fixed terms of electricity and gas etc..
We are not
talking about the municipal capital gains tax, which is the tax that the local
councils charge when you sell your property at a profit (in my time when I
bought and sold before the year I paid 0% tax, but of course, the councils saw
that it was more convenient to charge even if you had only been the owner for 5
days as has happened to me between the purchase and sale of a house).
In
addition, the costs of repairs, which clearly are the ones that make you can
make a profit when you buy an old apartment for 100.000 eur, spend 40.000 eur
and sell it for 180. 000 eur to be all brand new, for the Spanish Tax Agency is
not deductible (only if it is considered improvement not rehabilitation, it
would take a separate topic to explain in detail this but to understand better
if you change the windows can be deducted to improve the energy efficiency of
housing, but put the new floor, new kitchen, cabinets, paint, etc. etc. all
that does not deduct a euro as it is considered renovation not rehabilitation
and the worst thing is not that it does not deduct is that for the Tax Agency
that investment does not exist).
That is to
say, for the Tax Agency you have bought for 100.000 eur and sold for 180.000
eur so you have obtained a capital gain of 80.000 eur and on that... to pay
taxes!!!.
So,
although it was my main source of wealth and made my investment capital
available, today I do not consider it as beneficial. Consider one thing, you
take a risk when you buy an apartment that you think you can sell with a
profit, you invest a great capital in the apartment and in the renovation, but
the net profits after taxes and other expenses are not much higher than the 5%
that the real estate company that sold your apartment takes without taking any
risk and without having to be aware for 2 months of problems with the
renovation company and arguments with the neighbors about the works. To get a
10-15% profit you have had to invest a very high amount and that financially is
a big risk.
What these
famous influencers do not say, because they have not been in the sector since
1989 when I bought my first apartment, is that already in the 90's there was a
lot of buying and selling and more speculation. On the Costa del Sol, for
example, you had to go with the amount in your pocket to reserve the apartment
if you liked it, otherwise the next visit would take away the opportunity (this
happened to me a couple of times).
They would
put up a sign for upcoming construction and 80% of the apartments had already
been sold. The game was fantastic. You would buy an off-plan apartment for
100,000 eur and in 6 months you would sell it for 130,000 eur and the buyer
would sell it for 160,000 eur when the building was finished.
Without a
deed or anything else, only a private contract with the developer, and
contributing perhaps only 20% of the amount of the apartment, you obtained a
100% profit on the money contributed. Moreover, for many, even in the pass you
did not appear for the purposes of the Tax Agency, since in the contract the
price of 100,000 eur still appeared and the other 30,000 eur went in
"cash", and then in the second sale 60,000 eur went in
"cash".
This also
happened during the mid 90's, until the bubble burst and there was a major real
estate crisis, but as everything is soon forgotten, from 1997 everything
started to grow again until it burst in 2007-2008 where another big crisis
broke out.
I have
known divorces, alcohol and drug problems and even suicides by hard-working
people who were doing well in their profession but had no financial culture,
they believed the story of "the floors never go down" and bought 5
villas of 200,000 eur, giving only a first payment of 20,000 eur per villa and
payments of 1,000 eur per month with the intention of selling each villa for
240,000 eur in 6 months. When the issue exploded they found that they could not
sell the houses even at the price they bought them for, they owed 1 million
euros and they had put their house, their company and their family at stake.
Rule number
one of investment, never put all your eggs in the same basket and never invest
all your capital in the same game, even if it seems super safe and reliable and
it makes you angry not to win the maximum possible money that you are winning
if you play more. The more you bet the more you will lose if the game goes
wrong.
Many
experts and millionaires talk about how it is "poor" to buy with your
savings and that you should always use other people's money. There may be a
point of reason, if my savings yield me 10% interest, it will always be better
not to touch them and ask for money from someone who will lend me the money at
5%. But be careful with these maxims. In those buoyant years, many bank
managers told me that I was stupid, that they had the power of signature to
give me immediately 500,000 eur so that I could buy some land, build 4-5 small
houses and earn money quickly.
Maybe more
out of "poor" education than as an economist, I have always thought
that when I have 4 euros in savings I can spend 3 but never 6. Those same super
colleague directors were the ones who chased their now ex_friends, to whom they
lent money to pay back the money they borrowed when the bubble burst.
I didn't
get much richer than I could have, but when the crisis broke out, it was worse
for me, like everyone else, but I was able to sleep peacefully and never owe a
euro to anyone.
Let's talk
now about RENTING, another famous means of passive income. It is considered
that renting usually provides in cities with high demand, around 6-7% return
but it is another big lie offered by those who sell courses. In small cities
this return is usually in the 4-5%, but it is necessary to consider several
factors, first that the tenant is wonderful and does not give problems.
The second
is that he/she pays without problems, which is the big issue that can be solved
with non-payment insurances that protect the rent but that add up and continue
subtracting profitability. Thirdly, there is the legal insecurity, which has
existed for years and after the COVID issue even more so.
For the
state it is much easier to leave the problem in the hands of individuals than
to assume the problem themselves, so if the family declares itself vulnerable
they will not be thrown out even in 2 years, the legal risk today is a big
problem to enter the rental business.
Also
consider another point, a rent of 600 eur per month with a deposit of the same
amount does not cover you if for example, as happened to me with my last
tenants, they made me damages worth 3,000 eur (I had to change floors,
baseboards, jambs, doors and paint the whole house). In total it cost me half a
year's rent which of course you pay for as the tenants leave the apartment and
you have to chase them when you don't even know where they are leaving to send
them a legal claim or get ready for two years of legal claims with expenses for
the legal team.
Another
tenant brought in two puppies and left stains on the floor that would not come
off and we are talking about more than 100m2 of porcelain floor. Another one
left a stain on the Silestone countertop that was worth 8,000 eur complete and
had to pay 3,000 eur for the section that was repaired but was no longer
exactly the same as the rest of the kitchen.
This is not
told to you by the gurus on Youtube. In addition, of course, the Tax Agency
arrives and takes its share of that 6% return expected from a good rental. The
net profitability is more towards 4%.... narrowly beating inflation.
In the
rental world we also have the famous TOURIST RENTAL apartments. I have had 3
next to the beach and I can say that I obtained great profitability, more than
10% net. The location next to the beach and in a tourist area with good weather
all year round meant that I had almost 94% occupancy all year round. But the
numbers don't tell the whole story either.
Initially I
managed the rentals via platforms like Booking, Airbnb, etc., the competition
is so high that I had to be every 3-4 days monitoring prices and adapting them
to be well positioned. It is something very clear, users order hotels or
apartments by price from lowest to highest, sometimes just because the one
before yours is 3 eur cheaper will make them rent that apartment instead of
yours.
Then comes
the reception of the clients (those who want to get in early, those who arrive
4 hours later than agreed, those whose plane lands at 1 am and finally arrive
at 2:30 am, those who call you on a Saturday at 12: 00 at night saying that
they have locked themselves in the balcony on the outside and that the door has
the key on the inside so you cannot open it with your key and they refuse to
pay a locksmith because they say it is a defect of your accommodation, those
who call you at 3 o'clock in the morning because the door does not open and
they were so drunk that they went to the wrong floor, those who left you the
room destroyed by wiping the mascara of makeup with new sheets and a thousand
stories that can be read in the forums of owners of these platforms, they are
very entertaining).
Therefore,
this business is profitable, especially if you do all the management, but
Passive Income has very little. It takes a considerable time (also, like all
the restoration, very thankless, when others vacation, is when you work the
most and while you go to the apartment to change sheets and clean bathrooms,
you see tourists enjoying sangria and paella on the terraces).
So you try
to evolve to improve your quality of life and you go from receiving clients and
cleaning to handing over the management to a third party in order to gain the
dreamed freedom that the world of passive income talks about. Why not hand over
2-3% of the profits and have the apartment managed by a third party?
I hired
three companies of supposed professionals and three of them I abandoned when I
saw that they had very little professionalism, your apartment for them is just
one more and they do not know what should be the right price to sell it at
maximum performance, they usually put it at very high prices so that the
occupancy dropped a lot. In addition to the 15% of the reservation price to be
added to the 15% of Booking/Airbnb. The numbers were already moving away from
the dreamed 10%, more towards the real 7%. The 94% occupancy rate that I
achieved was also reduced to the 70-75% that the "experts" achieved.
In the end
you decided to manage the calendars and reservations yourself to find the
maximum occupancy and profitability possible and a person to give keys and do
the cleaning for less than what the professionals charge. They are usually
individuals with high turnover, so if you do not live in the city, it meant
that every so often you had to find another trusted person to whom you could
give your home with a simple interview and without much possibility of
verifying its subsequent effectiveness except when it was late and you saw bad
customer reviews (one of these people, knowing the calendar, rented the homes
on their own on days without reservations and took the money).
Of course,
we also had a squatter who, after seeing that justice offered us a couple of
years to kick him out, we went in and when he came out, we changed the lock and
told him that either he signed his departure without any complaint or his
things were going to a dumpster. Illegal probably but justice doesn't offer you
many more options when it's the first one to relax and watch the years go by.
The weeks without sleep and the 2000kms trip across half of Europe I don't
count here.
Summarizing,
the real estate market is interesting when you start to have capital, although
the maintenance and management costs and of course the final taxes, makes that
the real net yields are not as favorable as they are sold out there. We can
speak that they are passive income, but as I have told you they are not 100%
passive income either, since first they require regular work and demand your
physical presence for their management, which means that they cannot be
considered 100% passive income.
Another
example in the real estate world that I have tried, the world of REAL ESTATE
AUCTIONS. For my experience in this sector I bought a course from a famous
youtuber who first informed, and then already started selling courses (and
possibly earned more with it than with the auctions). He promised that he would
only sell the course for a limited time to a maximum of users, but as time
forgets everything, and he must have discovered the manna of continuing to make
money from a job already done, because he continued to sell the course
massively over time.
The logic
is simple, as the current real estate market is already too complicated to
buy-refurbish and sell, so I buy 30% below the market price in order to get the
expected benefits.
But when
you pay and do the course, which is good, nobody has told you the reality, or
at least not all the reality, and that is what bothers me the most, those
little half lies that they always forget to tell and that mark the all or
nothing, but as they need massive sales they sell it to everyone even knowing
that for the vast majority it will not help them at all.
If you have
"normal" savings, you have access to apartments in auctions of
100,000-200,000 eur for which there is such a wild competition, that in the end
the auction prices go up and up and end up buying 10% below market price or
even at market price, plus 2 years of legal proceedings with the money blocked,
expenses in lawyers and solicitors, calls to the officers of justice, problems
and more problems.
On the
other hand, the one who has large capital and buys a house of 1 million euros
for 600,000 does make a great profit, but in that league only a few play, in
that area there is much less competition, higher margins and therefore
interesting real benefits. Therefore, of more than 70 professional users I know
who bought the course, in more than 2 years none had managed to buy a house at
auction, would we all be useless?
Can we say
that the course is a scam? No, not 100%, but the reality is that the sale of
the courses is the business, the deception is in not warning normal users that
either you have significant financial resources or it will be very very
difficult to make a profit in this sector. But they always forget to comment on
this simple message.
And this is
the big issue that can be seen on Youtube or other SOCIAL NETWORKS. The big
business of passive income is to prepare a course of whatever and sell it on
the networks. After the effort of doing it and investing in its promotion then
each sale is a net income.
The
difficulty is that there are thousands of similar courses and getting a quality
product is not easy. Therefore, it is not a simple product to manage nor is it
very passive income, since you have to be constantly making yourself popular in
networks to not fall into oblivion, and when talking in networks we talk about
juggling madly between your website, blogs, youtube, Tiktok, Pinterest,
Instagram, shorts, Google Adsense and the thousands of hours you can spend
managing and selling your products. Nor is it for me or for the vast majority
who do not know where to invest or how to manage so many promotion options in a
reasonable way and if you use an expert to manage it, invest and invest without
knowing if you will have profits someday.
Other
passive sources that are very popular are DIGITAL SERVICES.
Social
Networks such as Youtube, is as full of this type of videos as with
cryptocurrencies or selling on Amazon. There is the business, for example, of
creating web pages offering information about products: the 10 best of this or
another and attaching product affiliation links, blogs with advertising links,
etc.
At COVID
time, being cooped up at home and having time, I decided to try it and created
a website about the infant world, I created a website with lots of valuable
information, tips, associated videos on Youtube to help choose between the best
bottles, cribs, pacifiers, etc., I invested in creating links to other blogs,
paid advertising on Facebook, Google Adsense, I used Instagram, Pinterest and
everything that for example the Gurus of the Webs show you that it is very easy
to do. What's more, he teaches you in-situ, he starts to create a page from
scratch on any topic and wham, you see that in a few days it is positioned
number 1 in Google and billing.
Well, I
must be very stupid, because after more than 1 year my sales were ridiculous,
until you realize that there are, not thousands but millions, of pages similar
to yours around the world and that reaching the user is almost impossible in a
natural way and that either you invest money or you don't appear. It's like
being on page 5 of Amazon with a great product .... nobody ever reaches you.
The case of
these gurus is clear, if I have 2 million followers I create a page selling
cell phone cases and in a week I bill 50,000 eur. The reality that they do not
clarify, is that when you already have 2 million followers, whatever you do
works immediately because you have the most difficult thing, since your
followers enter and immediately give authority to your website.
What they
don't tell you is how to go from 0 followers and 0 authority, to doing
something that makes you money. And meanwhile, they have taken the money of
another 20,000 users who have bought their course....that is where the source
of income is, not in sales through the web but in sales of courses on how to
make money creating websites.
In
addition, this business is not very passive either, since you have to be
constantly trying not to fall into the oblivion of the other thousand sells
courses, and promote on blogs, websites, social networks, most of the time
paying and paying to appear in top positions and continue to promote sales of
your courses or books.
Another
king of passive income, the CRYPTOMONDS. As an economist I can understand why a
stock goes up or down, why the price of housing goes up or down, or how a
mutual fund or ETF works, but don't ask me to explain how cryptocurrencies
work.
I can only
say that I don't know why they go up and I don't know why they go down either
(except for the maxim that there is little supply in some and lots of demand
and the rebelliousness of young people in overthrowing the current monetary
system governed by central banks versus a purely market controlled currency
system). Only a confidence that they will grow to the infinity of their fans
makes people keep investing in something that nobody understands, and neither
will they understand when one day they enter their wallet and see that their
money is gone and without knowing where the air that took them away came from.
I have
tried them, of course, and when I invested I did not know why or how. I have
tried buying and leaving them there sleeping and also acting as a dealer and
buying and selling intraday and even buying and selling on the spot. The latter
was even fun but I don't think it's a smooth or long lasting source of passive
income.
There are
dealers who do the same from home, but in my years of consulting one of my most
interesting projects was to design the integration of various Treasury rooms of
a large bank resulting from the merger of several entities and create one of
the best and most modern rooms of the moment, and if there is something I
learned from the brokers and dealers is that they use analysis tools that will
never have a user at home and above all and most importantly .... they have a
speed of execution in their computer systems of nanoseconds, which can never be
overcome from a simple home computer, so your sell order will always be behind
the big traders who will scratch the cents that make profitable operations.
It's like trying to beat a bot in a bidding game by doing enter on your
keyboard, a 4 million euro server versus a 2,000 eur home computer, there is no
color.
Then there
are those who show their money earned in bitcoins, we will have to see when
they sell it and subtract the commissions of the platform of the day, the
currency exchange, the bank commission and now the government control (it will
no longer be enough to go to Andorra or Portugal) how much is the profitability
of the investment. As there is no reason to go up or down, the big whales can
easily move the market as they please. If big fortunes sell their millions of
bitcoins, there will immediately be massive sales of thousands of people who
will think that the next cryptocurrency winter is coming, once the prices go
down the big fortunes buy again with prices 30% cheaper and they have already
made a good profit. This way I would not like to gamble my retirement pension,
hoping that one morning I wake up and 70% of my income has disappeared without
knowing how or why.
For now,
the believers continue with the investment with the dream that one day they
will liquidate their manna and retire. I think the possibility exists, but as
much as flipping a coin and gambling your future on heads versus tails.
It goes
without saying that if you lose your keys or your wallet (moving,
forgetfulness, home accidents, or even unforeseeable fatal accidents leaving
your family unaware that there are thousands of euros in a small pendrive). But
as with faith there is no discussion, believers will continue to believe and
the rest of us must respect their beliefs as much as possible.
We also
talk about passive income to the AFFILIATE WEB, you recommend on blogs,
websites and social networks products of others and get a commission after its
sale.
Course
sellers sell it to you as something easy and safe. In Fiverr they make websites
with 10,000 products for 30 eur and they assure you that you will make 200K a
month, they already have pages with millions of products prepared according to
what you ask for: sports, home products, etc. and in a minute they send you a
website with thousands of products that nobody will click on, since there are 5
million similar pages and either you invest thousands of euros in promoting
your website or you will take months and months investing money without having
the certainty that in the future you will have a recurring income.
And the
question is simple, if for 30 eur they create websites that generate 200,000
eur per month, why don't they invest in 100 websites and start earning 20
million euros per month, they only need to have 3,000 euros.
One of the
most traditional, known and real options for passive income are the purchase
and sale of STOCKS, BONDS, ETFs, FUNDS etc. .
It is true
that in the long term the Stock Market, the Stock Exchange, always or almost
always to be more precise, ends up giving benefits, for a few years you can
lose, but if you keep your nerves, the economic cycles make it finally go up,
and at the end of your life you hope that the up cycles have been greater than
the down cycles.
But in the
end let's not kid ourselves, the cryptocurrency market seems like a thing for
young people and geeks and the stock market seems like a thing for serious
people in ties and suits working in a bank or treasury room.
It is
certainly a more scientific science, if a company is doing well it is normal
that their shares go up, so you can follow the pages of economics to know where
you should invest, or follow the advice of your banker "friend",
which in the end is usually influenced by the lines of investment that marks
your entity or interests according to where to get more profit.
But it also
has a pretty crazy level of volatility and I have seen companies earn 10% more
than last year in profits for their shareholders, and the shares sink because
the estimates were that the growth was going to be 20% and when the
expectations are not met your shares fall, which is incomprehensible to you if
in the end the company made money.
Investing
in ETF's that invest, for example, in the largest companies in the world is
usually a safe and profitable way to invest and get a more or less attractive
interest rate on your savings.
But in the
end, when you sell, there are commissions from the company that manages the
securities, bank commissions and finally the Tax Agency that demands its share.
In the end, your net income, besides being uncertain, will not leave you a high
profitability unless you have also assumed very high risks especially dedicated
to high rollers with an iron heart.
One of the
few times I invested in banking products of this type through the Private
Banking of my bank (special rooms, coffee at every meeting, young, smiling and
friendly guys, with suits, shiny shoes and Hermés ties). They offered me an
interesting product: the bank only charges you when you earn, so we show you
our commitment to look for the best for you, if we don't make you earn money we
work for free....tentador and convincing, isn't it. It didn't take me two
months to see the reality. I invested let's say 100 eur and a month later my
shares were worth 80, the following month they went up to 90 and I found that
they had charged me interest, when I asked why if I was still losing 10
compared to the 100 invested, they told me that they charge when they made me
earn, as I earned from 80 to 90, well then, to charge commissions on the 10 eur
earned. That's the way it is in the banking world, the house never loses.
And to
finish with the fantastic means of passive income we find the world of AMAZONFBA. Possibly and together with the cryptocurrencies of which you will find the
largest number of courses and gurus offering the wonder of this passive income
that will make you earn thousands of euros / dollars in a very simple way.
And how?
Well very easy, I go to Alibaba and buy a product in China for 5 euros, I go to
Amazon and see that it sells for 20 and that's the deal. I buy about 200 units,
I send it to Amazon warehouses that takes care of all the logistics when
selling my product.
The most
exaggerated gurus will paint you the numbers to the beast, 20 eur for 200 units
you will have earned in 1-2 months it takes to organize everything about 4,000
eur with an investment of 5 eur for 200 units, ie 1000 eur. They often forget
to explain all the expenses that must be made before and during this process
(software, management fees, storage, registration companies, brands,
advertising, image design, etc.) that makes the final margins between what you
bill and what you earn net at the end of the process, is not so wonderful and
that without excluding the many hours it takes to perform all the steps. They
sell you that with a couple of hours a week you can manage the business but
there is very little passive income and the dedication required is very, very
high.
Of course,
youtubers who will teach you that they have a turnover of 20 million euros
leave their lives and work hours and hours to create videos every week, create
sales funnels, analyze neuromarketing techniques to motivate the purchase, free
webinars and even free mini courses, where they selflessly explain the business
step by step, but in the end they only try to sell you the course.
And the
million dollar question is, if you invoice 20-30 million and manage 70-100
products, with the work involved, why do you invest so many hours and effort in
preparing a course and promote its sale? The easy answer is usually that after
having financial peace of mind they feel a moral obligation to help others.
I'm sorry
but already having a few years on me, my confidence about the moral of people
and more when talking about money and more when as with other courses such as
affiliate websites, auction courses, real estate sales courses and others
always keep some information that is what would make 80% of their future buyers
of courses not to buy them.
If you
really care about people tell the young kids that no way they can start selling
on Amazon with 3,000 eur and that in 2 months they will be making money. Tell
them the truth, that to start on Amazon you should enter with products above
20-30 eur (selling 2 euro keychains with a net profit of 20 cents you have to
buy 5,000 units or you compete with large manufacturers that can lower the
price when they want and leave you without margin or you will sell in
negative).
That you
will have to pay Amazon 40 eur a month just to use their platform and in
addition they will charge you for storage, transport, management etc like 20%
of your selling price, that you will have to pay taxes, that you will have to
pay for shipping, that you will have to pay for Hellium10 or Juglescoutt
software, another 80 a month, to manage the analysis, that you will have to pay
for registering your brand, for designing the packaging, the listing images and
content A+ and above all the advertising campaigns on Amazon, that you will
have to pay for other software to know how your sales are going since amazon's
software does not show you much information.
The idea is
clear, you are not going to sell anything until you have positive reviews and
that is achieved by appearing on the first pages (nobody searches on page 4 of
Amazon), for that you and 4. 000 sellers of your product pay to appear when
searching for a keyword, dance shoe, and if others pay 1 euro to appear when a
user writes that word, you must pay 1.10 eur and be aware that tomorrow another
seller does not pay 1.20 so you must be all the time attentive to a lot of
keywords and the amounts of bids.
For Amazon,
competition is wonderful, but you will be fighting against hundreds of sellers
with large amounts of money to bid on your keywords or with thousands of
reviews prior to the launch of your product.
They will
also tell you that to be successful you must perfect your product, but they do
not tell you that dealing with a Chinese manufacturer that sells its product to
millions of people and is not interested in making adaptations to a $12
product, or if you find the one that interests you will be negotiating with
him, I am not exaggerating, up to 5 months between you ask for X they say yes
and then they show you something else different, they send you a sample by
plane, you pay, you see that it does not meet and you have to negotiate again
and then a month until they manufacture it and another month of transport etc..
The real
times are not as painted from the time you choose a product until you launch
your product on Amazon. Also point out that there are professionals who will
charge you for doing the product search and selection, others to create
professional images, others to design your logo, others to design your
packaging, others to create the A+ content, others to manage transport and
customs procedures, others to manage advertising campaigns, others to solve
problems with Amazon.
Because
yes, Amazon is wonderful for the buyer, you call and they return the product or
the money without any problem, normal is not their money is your product that
will be damaged or they will return it used or broken because they did not like
it, or they can close your account with thousands of euros in products because
someone, a competitor angry about losing market share, say something bad about
you or buy your products and start giving you bad reviews or a pirate hijacks
your account.
Amazon's
customer service is terrible and every morning you can run into problems that
no one will explain how to fix and will require hours and hours to fix. But
course sellers who manage 50 products will always find free hours to help you
out of pure altruism, of course.
So please
be honest, it can be a great business to sell on Amazon but first it requires
you to have significant upfront money and more capital to reinvest (the first
few months you will almost certainly sell at a loss to get positioning but you
will have to place more orders to meet demand) and lots and lots of work or
more money for others to do it for you.
Therefore,
do not deceive young people with a few euros to buy courses with the idea that
it is a business to start with 2000 eur. I think that with less than
8,000-10,000 eur they should not even consider it and others to continue buying
more product as sales go, but of course if they say so you lose many buyers of
courses with little income but with great enthusiasm to succeed.
As the one
that sells auction courses and does not say that you forget to buy 80,000 eur
apartments at auctions, or the one that sells to create Websites saying that
you only have to pay 5 euro/month of webhosting and domain, not to mention the
thousands of euros in promotion and hundreds of hours of dedication.
Neither say
that with 2 hours a week you can manage these businesses. From searching for
products, dealing with the Chinese manufacturer, designing images, logo,
transport, advertising campaigns, managing returns and problems and sales
evolution, it can be said that it is anything but a passive income. You may
have income, but let's tell the truth, you will spend your 8 hours a day if not
more.
And finally
we come to the last source of passive income, known as P2P investment orCROWDFUNDING/CROWDLENDING, and yes this is at present and after having tried
many other means of investment, more or less passive, the one that at present
and for about 5 years to what I dedicate myself body and soul.
I am going
to indicate why I believe that without being perfect, nothing is perfect, I
consider that it is currently one of the best and only real sources of passive
income where to obtain a good profitability.
For those
who have never heard of this form of investment, it is very simple to explain
and understand. I will try to explain it in the simplest possible language.
Traditionally
a company in order to grow (to buy a warehouse, machinery, merchandise, etc.)
or an individual who wants to buy a car, house, etc. would go to a financial
entity that would lend him the money at an interest rate X during a series of
years with an annual interest rate.
This
loan-credit model is well known to everyone and almost all of us have used it
at some time. Apart from the banking institutions, there were also lenders who,
with worse conditions for the borrower, assumed risks that many banks did not
want to assume (normally the bank is maintained by thousands of people and the
lender sometimes by a single person or small group of investors, so it is
logical that by accepting rejected by the banks and by assuming higher risks,
they would be forced to pay higher interest rates).
The use of
technology and crowdfunding/crowdlending, or fundraising/loans, has
revolutionized this market. For those who need a loan to start a business, grow
the company or solve a specific cash need, it allows them to have access to an
alternative source of financing to banks that sometimes are not willing or
tighten their risk criteria for granting loans.
Let us not
think that money is not lent by the banks for being a bad payer or
irresponsible, sometimes banks are simply not interested in giving more credit
or they do it with totally usurious conditions (what if guarantees, personal
and family guarantees, additional insurance, contracting various banking
products, etc.). This is how Loan Originator Companies emerge and start lending
to thousands of individuals and companies.
These loans
must also be secured by collateral such as the property title of the person to
whom the loan is granted or other personal guarantees. In case of non-payments
or delays, as in banking, there are penalties or even judicial executions to
recover the borrowed funds plus interest for late payment.
The
mortgage that the bank leaves you, where does the bank get the money from, from
thousands of savers with their funds deposited in the bank. And this is how
these Loan Originator Companies do it, looking for thousands of small
savers-investors who want to invest in these loans. In order to make this
operational, the Technological Platforms arise, where a loan of 3,000 eur is
divided between an individual to buy a car and 100 private investors who invest
30 eur each. This loan is established for a determined period of time, let's
say 1 year at an interest rate of 12% per annum payable monthly. Therefore,
each investor who put in 30 eur will receive 1% interest every month for 12
months. It is simple. And I say monthly interest, because many of these platforms
pay you monthly interest, you do not have to wait for the annual amortization
of the loan. This way you can immediately pass this interest to another
investment that will continue to produce new interest that you can reinvest
again, make compound interest work.
There are
many Crowdfunding/Crowdlending Platforms in the market. The most evolved market
is in Europe, with the highest rates, but there are also this type of companies
in the USA and other continents.
I
personally invest 90% in Europe and 10% in the USA, but there are some in South
America, Oceania etc... Some European platforms for example allow only
Europeans to invest, and others in the USA require you to be an American or
legal resident to invest, but there are exceptions. I invest in more than 50
different platforms, although after trying them for years you finally know the
10 where you don't want to invest anymore, the 20 where you invest to diversify
and the 20 where you feel more comfortable and where they offered you the best
results.
You can
look for many of these platforms on the Net and I comment some of them on my
Youtube channel or my website.
https://www.youtube.com/watch?v=WcaaAebGjwo
https://www.youtube.com/watch?v=gs0WiqSux40
So you can
find Mintos, Getincome, Bondster, Esketit, Lendermarket, Profitus, Capitalia,HeavyFinance, Hive5, Viainvest and many others.
Some are
specialized in specific sectors such as real estate and will offer you for
example to invest in a loan to a real estate developer, or even to own a small
percentage of a house among many investors or the same to buy a house to
dedicate it to tourist rental and obtain a profitability obtained from the
rents and another profitability when selling the property in the future.
Others are
focused on the agricultural sector, offering loans to farmers for their new
harvest, machinery, expansion of land or facilities on the farm, etc..
Others are
more oriented to invest in start-ups of new businesses, from a coffee shop to a
new brand of organic creams.
There are
platforms that invest in solidarity projects to support disadvantaged
communities.
There is
even a platform that buys portfolios of bad loans at a very low price, say 10%
of their value and then litigate and recover a percentage of profit of say 40%
of the original value of the loans (let's say it would be like buying auctioned
apartments, cheap but with greater difficulties in exchange for high
profitability).
Others
offer to invest in Bonds, Securities, ETF's, and many others.
Where to
invest will depend on the investor's appetite for one sector or another, some
like to invest more in real estate, others more in agriculture.
There are
investments for a few days, others for 6 months, others for 1 year and even for
5 years. There is also the assumption of risks, the more doubtful loans offer
more interest and the safer ones less.
There are
loans guaranteed by the property itself, or with European funds or subsidies
that make them safer than others only guaranteed for example by the salary of
the person who buys a vehicle.
And why these
investments seem to me to be among the best as a means of passive income. After
testing them and betting my own money and that of my clients for more than 5
years I can indicate several:
a) The
investment can be from 10 euros in many loans, other 50 or 100 eur but I love
the fact that I prefer to take a risk leaving 10 eur to 100 friends than 1,000
eur to a single friend. I can estimate that of the 100 friends some will fail
me and I will have lost a very small part of my investment which will be more
than covered by the 10% interest that those who did pay will give me.
The
investment idea is great, to avoid the risks I diversify among many investment
platforms that in turn invest in a multitude of Originator Companies and in
turn I invest small amounts among a multitude of loans. It is a great formula
to reduce the risk of possible disasters, not like investing 200,000 eur in a
house that one day there is a fire and goodbye to the 200,000 eur, or invest
30,000 in an investment fund that can go very wrong, or buy 5,000 euros in
shares of a company with negative results. Getting to fragment investments in
amounts as small as 5 euros in say 8,000 different loans, is one of the best
risk reduction methods I know.
b)
Investment terms, I love to invest in terms of 1 month, 6 months or 1 year.
There are several reasons for this, life nowadays is very fast paced and I
don't like to have my money tied up for a long time, I like to know that I can
recover part of my investment for unforeseen events quickly. If I don't need
it, I keep reinvesting the money another month and another month and so on
until I want to.
But
remember when I was telling you about the wonders of compound interest. Every
time I invest 100 eur and receive say 100.83 eur at the end of the first month
at 10% annual interest, I am reinvesting 100.83 the second month which in turn
will produce more money which will be reinvested in turn in the third month and
so we let compound interest work its magic.
In
addition, most of these investment platforms do not charge to invest or
withdraw money and allow you to automate your investments so that the money
earned continues to be reinvested according to the criteria you set, so here
really is a passive income that makes your business grow and grow.
It is one
of the few Passive Income that grant Financial Freedom because once invested
you do not have the need to be aware of doing anything else (although like any
investment is always recommended to keep an eye, read information about the
market, health and financial situation of the Investment Platform, because like
everything in life changes a platform that for some years works very well may
at a given time by market circumstances (war Ukraine for example), or
mismanagement of those responsible, begin to give liquidity problems and may be
interested to withdraw or reduce positions until everything relaxes). The good
thing about short investment terms is that at any sign of fatigue of the
company, you can quickly start to cancel your investments and recover the money
quickly, you do not have to wait 1 year for a window of partial or total
disinvestment or penalty fees to recover your money quickly or have to sit and
wait to see if the company recovers from its bad situation.
c) Many of
the platforms also offer another layer of security called Buyback, which is a
Buyback Obligation. It usually consists of a commitment in which the Loan
Originator offers the investor to repurchase the loan if 60-90 days after the
payment date the debtor has not complied with its payment commitments. In other
words, if there are problems, they will return the money and their legal teams
will pursue the debtor to try to collect.
d) They
also offer some Secondary Markets that help to offer greater liquidity to the
market. Let's say you have a lot of one-year loans and you have an unforeseen
event that makes you need the money. This secondary market serves as a quick
escape valve, so that you can sell your investments early and have another
investor buy them back from you. Normally, it should be at the same value or
less than you bought it, although sometimes it is also used to sell with some
overprice and thus get even more profit, of course if someone is interested in
paying for it. Normally, it should be at the same value or less than you bought
it, although sometimes it is also used to sell with some overprice and thus get
even more profit, of course if someone is interested in paying for it. The
normal thing is that if you want your money fast, you give up some of your
earnings, for example, do not pretend to earn 10% but 8% in exchange for
recovering your money quickly.
e) These
platforms invest in a multitude of countries, which for some may give them some
initial fear because they do not fully understand how the real economy works.
Already more than 20 years ago when we designed the new Treasury Room of a
major bank, the systems worked as follows. Mr. Lucas' savings in his checking
account in his town of 1. In addition to being used to give other loans or
credits, large sums are transferred to the Treasury Rooms of the large entities
that during stock exchange hours, in Europe from 9:00 to 17:00 hours moved
through the European stock exchanges, from 15:00 hours the US stock exchanges
opened and much of the money "flew" there and when the American stock
exchange closed, the money "flew" to the Asian markets to return to
Europe the next morning. And unbeknownst to him poor Lucas' retirement pension
had been producing interest by circling the globe in 3 markets in 24 hours.
That's why
it should be no big deal to invest in land in Lithuania, a building in
Budapest, a car loan in Berlin or a house renovation in Florida.
Moreover,
financially it is the most advisable to avoid country risks that to a greater
or lesser extent still exist and when you travel and see that in Spain a
current account offers a 2% return and crossing the border in France a 4%, why
not take advantage? that today transfers are free or very cheap and your money
does not have to be only in banks or investments in your country is a barrier
to be eliminated in this globalized world. In addition, you have to diversify
not only in investments in different products and sectors but also in different
financial institutions and countries to protect your savings also from currency
devaluations, advantages in higher interest rates in emerging countries etc.,
having bank accounts open in different countries of the world no longer has to
be exclusive to multinationals.
Therefore,
an investment that you can make with very little capital, which allows a young
person to start putting their first 10 eur every week or month or the investor
who wants to invest 500,000 eur can participate with the same rules and
benefits.
Where you
can invest your money every 30 or 90 days reinvesting it automatically.
Where you
can choose whether you like to invest in real estate or in Bonds or in the
agricultural sector or even better where you can invest a very small amount in
a multitude of Platforms extraordinarily diversifying the risk of losses makes
it in my opinion a Passive Income and a Financial Freedom as close to its
purest definition of allowing you to get the most out of your savings without
dedication and in a safe and continuous way over time.
Personally,
my times of having 200,000 eur blocked in a property that could take time to be
sold, or that a squatter would come in or that an absent-minded neighbor would
set fire to his kitchen and the building would be destroyed, are over.
Investing
in rentals does not seem so profitable to me, plus the problems and dedication
involved, especially if it is a tourist apartment.
The bank
financial products, after commissions of the managing entities and subsequent
taxes do not offer me much more confidence either.
Affiliation
websites, blogs, digital services seem to me very complicated to be profitable
because of the great competition, and a lot of work and money it takes to be
"popular" (just think of the millions that a brand like Coca-Cola or
Nike spend on advertising a year despite being leaders, to be very clear that
my website selling t-shirts will be difficult to be known if I do not
continuously risk a lot of money and spend a lot of time to have a highly
optimized SEO that constantly changes according to changes in search engines
and platforms like Instagram, Youtube etc.). As in sports, there are millions
of kids playing soccer or tennis, but only a tiny part of them succeed, and
analyzing why is very complex.
Being able
to invest small amounts, and obtain many small amounts of profit every day from
a multitude of small investments in a multitude of small loans in a multitude
of platforms that invest in a multitude of sectors in a multitude of countries
makes that, although in any investment you should always be warned of the
risks...., in this type of investment it can be said that it is so blurred that
although various loans will fail In my
case (and they will fail, it is impossible for everyone to pay, it would be too
perfect a world), the profits of the paid ones far outweigh the losses of the
unrecoverable ones.
Thus in 5
years in my case (you know the disclaimer: past profits do not guarantee future
profits), I have obtained a return for me and my clients of more than 11.5%
net. We can think that 10% is a very certain objective of being able to be
insured by assuming medium-risk investments.
And the
truth is that at the beginning, I entered every day to see how I had earned 250
eur every day, whether it was Monday or Saturday, and I saw the income, not
future or foreseeable, but real in my account that I could withdraw or
reinvest. Now, having everything automated, I only enter sporadically at the
end of the month to write down my earnings in my excel and above all because of
the commitment of my clients I regularly follow the companies where I invest to
detect if they are still working properly or show any sign of weakness
(shortage of loans, delay in repaying loans or delays in making effective the
repurchase obligation). In those cases I make quick adjustments to move money
between platforms and inform my clients to do the same. Where I have been
investing for 5 years is where I advise my clients to invest, and as most of
the time my portfolio is much larger than theirs, they can be assured that I am
not interested in taking unnecessary risks when I personally would lose the
most.
As a final
thought I would like to comment that there are no absolute truths as I said at
the beginning, what for one is an ideal life for another will not be, and the
same happens with passive investments.
If you are
a technology lover, what may attract you the most will be to develop computer
applications to sell and I will not be the one to say that it is a bad idea,
those who like financial investments go ahead with trading, those who have a
lot of capital should certainly enter the real estate sector. And above all,
passive passive in this world there is only death, the world goes too fast to
think that you can invest and you forget and receive income every month.
What I am
telling you today is that I think Crowdfunding/Crowdlending is a fantastic
investment, maybe in 5 years time all or most of the companies will have gone
bankrupt. We can all remember great companies that today disappeared and new
ones that emerged very quickly and that in a few years may be a memory for
their users.
Therefore,
I speak from experience not from rhetoric, I have told you about my investment
experience over the last 30 years and investments that I made then I would not
make today and investments in Crowdfunding, where I have been 5 years with very
good results, maybe in 3 years will be a memory.
But I think
that for the vast majority of people with a few savings who want to get an
interesting return, forget the Youtube titles of win 1 million with 1. 000 eur
with my big secret, without having to spend a lot of time and that takes
advantage of compound interest and offers high liquidity and a good interest
rate that beats inflation and allows you to save for the future and come a day
to enjoy Financial Freedom, I am certainly convinced that investment in P2P
Crowdfunding/Crowdlending is the most interesting option that exists today.
For more
information or advice, from Carliaconsulting@hotmail.com I will be happy to
help you. I offer a simple service of design of the best portfolio for your
investment according to your needs and requirements in a single session of
knowledge and design and other more elaborate with an accompaniment over time
of 3 or 6 months, advising on how to go looking for the maximum possible return
on investment as well as being attentive to the evolution of existing platforms
and new opportunities that arise. After 6 months you should feel so comfortable
traveling on your own that you won't need more help than from time to time to
be attentive to my emails about any news of interest in this sector.
It has been
long, I know. I talk too much but as there are so many lies, half truths,
different products, so many videos, so many gurus, so much information I
thought it was useful to concentrate in one place all the necessary information
for those who want to start worrying about their future, start saving, start
thinking about being financially free, start thinking about leaving a job or
life that does not make you happy, etc. not go crazy watching a thousand videos
that disorient, dizzy, confuse and worse deceive trying again and again how to
get a passive income and financial freedom dreamed by many. I hope I have
succeeded at least to some degree, because as I said we are all so different
that there are no exact definitions of how we should manage our financial
freedom. I look forward to your comments and hopefully we can work together if
you decide that I can help you with my knowledge about passive investments.
Best regards and if you made it to the end, which is not easy, thank you very
much!!!
For more information and articles we invite you to visit our WEBSITE, where you can find information about PASSIVE INCOME, P2P CROWDFUNDING LOANS and more general economic information FINANCIAL EDUCATION.
You can ask for our services to invest on P2P Crowdfunding loans to design and/or manage your passive income portfolio to reach your financial freedom.