How do you define financial freedom? Financial freedom means making enough investment income to cover all of your expenses. What exactly does this mean? It means you will never have to work for someone else again.
You will find many get rich quick investment strategies as you search the internet for ways to gain financial freedom. You might even find some that promise to teach you the secret that will make your financial dreams come right overnight. Sounds tempting, right?
For the last 15 years I have been working in the financial world. I learned long ago that your best friend in your drive to becoming financially free is time. You need to develop a sound plot of attack and you need to start NOW in order to get the most out of time.
The best way to make your own money machine, in my opinion, is to find a safe, reliable investment strategy that you can use month after month. I‘m not talking about a shoot for the stars over night strategy, but a strategy that can be used consistently over the long term in both excellent and terrible markets.
Building wealth over time is the goal. With the right investment strategy, this can be done rather easily. The key is generating positive monthly returns and reinvesting them every month. The power of compound interest will take over if you follow this simple plot.
Albert Einstein called the power of compound interest the eighth wonder of the world. He learned that by reinvesting those earnings month after month, the earnings will eventually grow at an incredible rate. The end result will be your very own money machine!
I have learned a strategy using covered call options that allows me to make up to 10% returns per month. Unlike the typical covered call strategy that you see advertised all over the internet, this strategy also works when the stock market declines. How quickly can you build a money machine when you make those kinds of returns every month? Let’s take a look.
If I start with a one-time $5,000 investment today and consistently earned 5% per month that amount would grow to over $1,600,000 in just 10 years. If I consistently earned 7% per month it would grow to a staggering $16,000,000 in just 10 years. If you had that money in a Roth IRA, it could potentially be tax free.
What if you made monthly contributions to your investment? Using the first example, if you invested $100 per month of new money that amount would grow to $2,500,000 in just 10 years! That is with a total investment of just $17,000 ($5,000 initially plus $100 a month for 10 years). 10 years down the road that $2,500,000 could generate $900,000 per year for you to spend. That is the power of compounding. That is how you make your own money machine.
The secret is on finding the right strategy to use. The covered call system that I use is different because it works in both bull and bear markets. I started building my very own money machine. You need to start building yours now!
Visit Marc’s website for more information about a covered calls investment strategy that works in declining markets.