It’s always too soon to quit.
– Norman Vincent Peale
It has been a slow week around Casa de Miller. My Dad was down from Fairbanks, Alaska on a business trip in the area and we got to hang out with him for awhile, which was a nice surprise. Unfortunately, he caught some bug on the plane ride down, so he was out of commission most of the time. Thankfully, I seem to be the only one that caught it from him.
I’m really excited to announce that our first print newsletter is going out very soon. [Make sure you are getting the print newsletter – sign up here.] I’m excited about the newsletter, because it won’t be what you would expect from a law firm.
Rather than cram in a dry review of the latest case or law that no one will care about — like other law firms do — we will give you relevant, interesting information. Things that are actually useful and that you will want to share with your friends. We talk about keys to your family’s financial freedom, simple strategies for more wealth, health, and happiness, and how to provide the very best for you and your family. To be sure to get your copy, sign up at aaronmillerlaw.com/request-newsletter.
This week, I’d like to talk about some economic news. No this recession isn’t over, but there is good news out there–and I LOVE sharing good news with you. However, I was recently reminded again about how often we can just *grasp* at every item of good news, and not recognize the underlying truth.
Saw this article: http://news.yahoo.com/s/ap/20091018/ap_on_bi_ge/us_investor_earnings_guide … and indeed, it’s hopeful.
Manufacturing is no longer the primary standard for measuring the health of our economy, but it’s one sign that things may be picking up. We’d all like to see things picking up in the economy around us.
But still… things aren’t that great. Unemployment is creeping towards 10% nationally, and we’ll have to wait for a few months to see what the third quarter numbers *really* were. Sure, I’ll still point to articles which can give you a shot in the arm of hope–because our mindset about these issues is often just as important as the underlying data. But we must be realists–while at the same time fortifying our hearts and minds from “noise” which will keep us in fear, and keep us from pursuing our dreams.
See, I refuse to be blind to reality.
Which, of course, is why we spend so much time around here to make sure that YOUR future plans are also rooted in reality–so you can make the best decisions possible for your family or your business.
And the straight talk for some of my clients, or their friends–is that times are tough. So, I thought I’d rip off some quick thoughts for you on finding additional sources of income, if you’re looking.
It’s the subject of this week’s Personal Strategy Note…feel free to send your thoughts or questions!
“Straight Talk” Personal Strategy
Finding Other Ways To Bring in Family Income
This economy certainly has a bunch of families looking for ways to “trim the fat”…well, to continue the metaphor, how about *adding* some “lean”?
You see, when trying to save money, eventually you’ll come to a point where you have cut as many expenses as you can and there are no additional steps you can take to free up money from your current income. The next step to saving more could be to look for other sources of income. These are a few common ways to make extra income with which I’ve seen many clients succeed.
* One of the most obvious has to be getting a second job. While this can eat into your free time, it’s an immediate way to bring in a dependable, set amount of income. You could try to make it more enjoyable by choosing something you’re interested in. For example, if you are an avid golfer, then work in a golf store. Not only will you enjoy the job more, you may have a discount that will benefit you as much as the paycheck.
* When you invest in dividend paying stocks, you can receive 3-6% annually in dividends from some of the top financial and utility stocks.
* Rental property can be a great form of income, as long as it’s “cash flow positive”, meaning that the rent you bring in more than covers all the expenses. You don’t want your only hope of making money to be on the future value of the property.
* Sell things around the house that you don’t use anymore. This could be done with a garage sale or online at www.Ebay.com, www.Kijiji.com or www.Craigslist.org. If you get comfortable with selling on these sites, you could even buy things at other garage sales that are undervalued and sell them online yourself. If you enjoy a certain hobby, like crafts or woodwork, you might be able to make something that you can then sell online.
* There are many opportunities to make money online if you like to write. You can either have your own blog or write on sites like www.HubPages.com or www.Suite101.com. Plus, if you have other “freelance” skills, a great site to find work is www.elance.com.
While not all of these ideas will make a lot of money, even bringing in an extra $100 a month to invest and earn 7% will give you extra savings of around $117,000 in 30 years!
To your family’s wealth, health, and happiness!