MFI Series1
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Retirement Planning for the Average Person
by Joshua King
Part 1 of the MFI Series1 series
No matter where, how, or when we started on this Earth, we all have the opportunity to have a happy ending. We will just have to decide what our happy ending consists of.
Do we choose to work until we are 70 years old and barely survive off social security and medicare? Or do we have a 401K, Roth IRA, dividends, rental income, crypto, and royalties to assist with our retirement?
Do we decide to work during our kid's golden years, missing valuable time with our kids in their 20s and 30s? Do we choose to miss time with our grandkids as we try to pay bills and prepare for retirement?
Or do we figure everything out in our 40s and have the money, time, and experience to help our kids out? Do we want to visit for years on end? Or even have the option to move to their location?
When we choose a life of passive income, we have an unlimited list of options and opputunites-which will make us more than average in the end. It will make us extraordinary! Which will you choose?
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Active Service Passive Income
by Joshua King
Part 2 of the MFI Series1 series
You've come a long way to get where you are at. Whether you are in the military or not, you have sacrificed much just by going to work every single day. You have dealt with traffic, bad bosses, and countless frustrating phone calls.
My name is Josh, and I am an active-duty US Marine with the rank of Master Gunnery Sergeant (E-9). I have seen a lot in my years-been to Afghanistan, served in Africa and Turkmenistan.
However, one of my greatest accomplishments, for my family and me, is becoming financially independent-before I exit the Marines. That's right, I will not have to work a second job after I retire.
To be honest, once I had the correct information, it wasn't difficult at all. This knowledge applies to ANYONE in the workforce. All I had to do was reduce expenses, eliminate debt, and learn to follow passive income rules.
The rules? Yes, practices such as "The rich do not work for money," and "Make money while you sleep," and finally, "Separate yourself from the act of making money."
You may not understand all of these rules, but you will. Once you know the concept, you will understand why I began writing books, focusing on real estate, and collecting dividends.
Today, my wife and I make $3,000/month passively through our income streams outside of work. I have eight more years in the military to increase and create these income streams.
Once I retire, then I can really focus on becoming rich-yes, the power of passive income. This book is for everyone, both military types, and civilians, we are all employees. However, I always wanted to create a book for young military types and aspiring servicemembers. This guide is the book I wish I had read before entering boot camp in 1999.
So please, everyone, take a look inside. You will find the start of something special in yourself. Nothing, I mean nothing, feels better than becoming financially free with a spouse and family by your side. Enjoy and Good Investing.
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Investing for Interest 5: The Hunt for Baby Bonds
by Joshua King
Part 75 of the MFI Series1 series
Sometimes it is challenging to decide if a stock or security is a good deal or not. You don't have a measure of its worth, truly. However, you can tell directly from the price what kind of deal you are receiving with baby bonds. Baby bonds are bonds that function like preferred stock. They trade on the stock market, have a par value (usually $25), and pay a set amount of interest. If you can find a reliable company's baby bond selling under par value, your yield can be much higher than usual. This technique allows income investors to collect excellent yields at great prices.
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What Is Financial Independence? Discover the Path to True Freedom
by Joshua King
Part 92 of the MFI Series1 series
What is true freedom? More specifically, what do you consider true freedom?
No matter your answer, it will involve some level of financial security or cash flow.
They told us that going to college, getting a job, getting married, and buying a house would lead to financial freedom. They lied.
To become financially independent, you will need to live below your means, reduce expenses, and invest in assets.
Doing these things will eventually allow you to live entirely from passive income. At this point, you won't need to work a job-you will have gained your financial independence.
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What Limiting Beliefs Do You Have About Money?
by Joshua King
Part 95 of the MFI Series1 series
Money can be fleeting-if we let it become that way. Yes, we can control how much money we receive by adjusting how we feel about money. It may sound funny but hear me out. Growing up, our parents may have instilled certain beliefs about money that we subconsciously remember. Things like "The rich are bad" and "count every penny" make us believe that money is scarce. If we believe that only certain people, or types of people, will ever obtain large amounts of money, how are we supposed to build our wealth? The world is full of money, and there is enough for everyone to be wealthy. To create money you will need to add value to the world. With enough value, we will soon achieve our financial desires. Inside, I lay out some ideas and books I have read to improve my relationship with money. These concepts have worked wonders for my wife and I, so check them out with an open mind. Enjoy!
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Living Overseas Passively 01: Financial Mindset
by Joshua King
Part 96 of the MFI Series1 series
America is expensive. So what if we took our well-deserved passive income and moved overseas? Could we find happiness away from the glitz and glamor of the USA? I believe that we can lead extraordinary lives overseas and find interesting people and places. I know that my wife and I plan to spend significant time overseas in Turkey. Welcome to the Living Overseas Passively book series, where we will prepare ourselves to live overseas, entirely on passive income. We don't want to go abroad and work a job. Yuck! This should be a seven-part series digging into each of these topics: financial mindset, retirement income, investing, real estate, automated business, royalties, and cryptocurrencies. I look forward to bringing you this series and hopefully giving you some insight into living abroad. I have spent 11 of my 22 years in the military living aboard and look forward to moving aboard during retirement. Enjoy!
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Don't Fear Delegation
by Joshua King
Part 101 of the MFI Series1 series
Telling others what to do can be uncomfortable at first. However, delegating is something we need to master if we want to live the laptop life. Having a business that runs itself is part of our multi-pillar approach to a cash flow retirement. So how do you get good at being a leader? First, you learn your job inside and out. The Marine Corps has a solid program for building leaders. When starting your business, consider how much leadership training you will offer. Next, you take your best people and begin to give them higher-level tasks. Expect them to fail on some occasions. This failure is where growth occurs. If they are to run the business without us, they need to be tried by fire. Most of us are high performers, but as we mature, we should measure our success by our teams' success. Building a cohesive team requires leadership and spirit d' corps, which both start with the art of delegation.
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Why You Should Learn Creativity and Design
by Joshua King
Part 102 of the MFI Series1 series
Are you starting a small business or online income stream? Have you considered creating and writing your own advertising and content? The world will tell you to hire out these services, and maybe in time, you should. But learning how to create and design will pay dividends in the long run of your business. It is not just about saving money but keeping your personality as a vital element of your business. I am a US Marine, yet I am learning how to write, create, and design. Coming from someone who has worn a uniform for 22 years, if I can do it, you can do it. There are man books that can help you along the way, and I give the ones that helped me the most. Welcome to the world of creation. A magical world filled with intrigue and suspense. You never know how well you did until you ship your work and the market responds. How fun?
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Retirement Planning for the Average Person 1 + 2
by Joshua King
Part 105 of the MFI Series1 series
In a strange twist of fate, it's okay to be average. Funny right? Being average gives us the advantage of using our brains to get ahead. Luckily, we can increase the productivity of our brains by reading and taking action. In "Retirement Planning for the Average Person," we talked about the "don'ts" for the average person. We average people don't have the luxury of buying nice vehicles and going on expensive vacations. Eventually, when we become rich, these things will come to us in spades. In "Retirement Planning for the Average Person 2," we talked about the "do's" for the average person. "Do" learn about crypto, investing, real estate, business, and retirement planning. Becoming smarter is the only path towards building an above-average retirement. Today, I bundle these excellent books together for your reading pleasure. If you are not a big reader, let this start towards a bigger and brighter future. Reading books, forming plans, and acting on these strategies is the only way to become rich. Do not let retirement sneak up on you. We should already be looking past retirement, towards estate planning and succession planning. But I digress. Let's start with building cash flow retirements. Enjoy and Happy Investing.
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House Hacking to Financial Independence
by Joshua King
Part 136 of the MFI Series1 series
We all need to get ahead in life. If your parents gave you rental properties and dividend accounts, congratulations.
If not, welcome to the world of struggle. To get ahead, we can try it the old-fashioned way. We can try to work more hours, save more pennies, and stop spending entirely.
Another way is to increase our income by house hacking. When we get roommates, we create an incredible revenue stream that eventually sets us free.
Yes, we will deal with tenants. If you do this correctly, you will only need to house hack for 5-7 years, after which, our dividend portfolio can do the heavy lifting for us. What a life!
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From Dirt to Dividends: Use Gardening and Preferred Shares to Supplement Your Homestead
by Joshua King
Part 137 of the MFI Series1 series
Many people's dream (including mine) is to run off to a homestead and live a quiet life. Unfortunately, even quiet lives require money. So, we can either work a job or create income from the dirt. Gardening is a great way to supplement our life on the homestead. But it would be even more effective if we recreated recurring passive income from our gardens. Enter preferred shares. These securities can get us returns over 10%, keeping our money flowing in the form of dividends. Our dividends could cover our entire farm life in time, and we could garden just for our family. Not a bad way to live.
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From Dirt to Dividends 2: Use Livestock and Closed-End Funds to Supplement Your Homestead
by Joshua King
Part 140 of the MFI Series1 series
Are you planning to live off the land? Don't start a work grind for yourself. Invest your money in dividend-paying assets. This way, you can live on your farm with dividend income. Even when living on dividends, you will need to eat. Good thing we can raise our own livestock. There are many animals we can grow, even on a small farm. These animals include chickens, geese, ducks, rabbits, pigs, sheep, goats, and cows. Each provides food, milk, or materials we can sell. As we sell our wares, we can invest in closed-end funds. CEFs give us high dividend yield dues to leverage. We can build a monthly paycheck from CEFs that will allow us to live comfortably while surviving off the land!
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How to Retire in California
by Joshua King
Part 143 of the MFI Series1 series
So you want to retire in California? You'll need to be richer than you can imagine. California is an expensive place to live, even when you are working full time. To retire there, you will need at least $200,000/year in passive income. Impossible, you say? No, it is more than possible if you are serious about retiring comfortably in California. The trick is buying real estate early, moving somewhere else, becoming a real estate mogul, and building a huge Roth IRA. And that is just the start of the plan. All things are possible, and you will want to have more money than you imagine living in Cali. That's just the way life rolls sometimes. So, if you are serious about starting your journey, please come inside.
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Passive Income: What Gets Rewarded Gets Remembered
by Joshua King
Part 151 of the MFI Series1 series
Building good "time and money" habits is difficult, especially if we are overcoming poor behaviors. One way to form good habits is to reward ourselves. Passive income is a mindset and a lifestyle. Every day we need to review our income sources and tweak them to get better results. If you invest in dividend-paying stocks and cryptocurrencies, then every day, you need to check the markets. If you invest in real estate, you should read a daily blog about the housing market. If you have a business, you should review your data daily. Yes, it takes a lot of work to maintain and grow passive income, don't let the name fool you. However, you are not exchanging time for money. You decide when to best interact with your income portfolio. And once the money starts rolling in, celebrate and enjoy your earnings. Don't worry, the money will be back next month. That's the magic of passive income, it does not depend on spending your time accumulating. Give yourself positive rewards to encourage solid money habits!
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How to Create Passive Income for Intermediates
by Joshua King
Part 152 of the MFI Series1 series
It's time to step up our Passive Income game. We are progressing into deeper topics today as we jump into income investing, REITs, and royalties.
A misconception is that you need a lot of money to get started with real estate. Nope. Real estate is a mindset. Having a roommate paying you $500/month is the same as owning a home that nets $500/month.
Income investing can be risker than dividend growth investing because the high-yield securities are more sensitive to external market forces. However, if you understand the overall investing landscape, you can do quite well.
Starting an automated business and creating royalties are vital to our long-term survival. Let's keep it simple for this round. We want to ensure our business can survive for as long as we need it to last.
Join me inside if you love the idea of passive income and getting paid while you build even more income streams!
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How to Create Passive Income for Advanced
by Joshua King
Part 153 of the MFI Series1 series
The deeper into Passive Income we dive, the richer we become. Knowledge is the ultimate form of currency, so we need to become innovative as hell.
Being able to create passive income from thin air is the ultimate goal. We can sell covered calls or buy tiny homes on a plot of land using leverage.
We can also farm coins on the decentralized crypto marketplace and sell NFTs that pay us royalties for their lifetime.
Whatever we decide to do for advanced passive income, we need to understand the word "value." Adding value is the only way an entrepreneur gets paid, so that word is the most critical word in business. If this sounds exciting, I'll see you inside.
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Inflation vs. Passive Income 2: 5 Steps to Beat Inflation
by Joshua King
Part 160 of the MFI Series1 series
Inflation is upon us, so how do we defeat it? I guess we could work more hours at our job. Or better yet, get a second job driving Uber or delivering pizzas. That sounds like a great idea.
I was just kidding. Don't solve your problems by exchanging your time for money. Every time we do this, we'll have to work more hours to earn more pay. It's a hamster wheel that we call the rat race.
Passive income is the answer. We need to build passive income streams to beat inflation, earn more money while we sleep, and compound our cash into the future.
Today, I present five steps to beat inflation. And yes, we need to use them together to get the maximum effect. You'll have to step out of your comfort zone, but that's okay. That's where all the magic happens!
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How to Thrive in the Gig Economy
by Joshua King
Part 161 of the MFI Series1 series
The world has undergone some changes. Long past is the days of working for the same company for 20+ years and receiving a nice pension. We have to survive on our own today.
The gig economy tells us that we can work how we like and grow if we want. However, it doesn't tell us how to build ourselves towards retirement. We have to create.
We need to create a business, a retirement, and a dream. It's all on us; nobody is going to save us.
The first step is to start a business, no matter the size. From there, we can begin to work on our resumes of work. We also need to be laser-focused on retirement and financial freedom, all while living below our means.
It sounds like a lot, but it's not that bad. Basically, we just need to be intentional with every task we perform and every dollar we earn. Not too much to ask, I hope.
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Investing in Virtual Real Estate
by Joshua King
Part 163 of the MFI Series1 series
Would you go to California and buy a home in a brand new development? How about traveling to Turkey to buy a plot of land randomly?
I hope the answer is no. The metaverse and virtual land are the same concepts. How can you invest in something you know where your knowledge is lacking?
The mission, then, is to become wise in real estate investing, online business, the metaverse, and then the particular world. There will be many, many metaverse applications moving forward.
If you miss the hype train on one, then there will be a new one shortly. Buying land in virtual worlds will consist of deriving value from foot traffic. How many people "walk" past your plot of land or business.
Buying and holding an empty plot of virtual land may not be the best technique to build wealth. It's still early, and we all have a lot to learn. In the meantime, jump into these virtual lands and start learning the lay of the land.
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Investing for Interest: What is Fixed Income?
by Joshua King
Part 169 of the MFI Series1 series
Putting all your money into the stock market can be a risky decision. Sure, you can win hard when the market is up, but what happens during a downturn?
Fixed income, such as bonds, can be a way to level out your gains and losses. Only you can decide what balance works best for your risk tolerance, age, and retirement plan.
Knowing what fixed-income assets are available is the first step in descending how to utilize them best. This book series will give you a background on many of the debt instruments available to the average person.
I love investing for interest as much as investing for dividends. They both require knowledge, self-education, and patience to reap maximum benefits over the long run. If interest is something that excites you, please join me inside.
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From Dirt to Dividends 4: Use Community Farming & Mortgage REITs to Supplement Your Homestead
by Joshua King
Part 174 of the MFI Series1 series
Being on a homestead doesn't mean you'll have to be alone. Homesteaders work as a community and a team to ensure the tribe thrives.
Part of a homesteading group may be community farming. This is where you rent a portion of your land so others can grow crops and plants.
As we collect a small amount of rent, we can invest it and gain a return. One way to get a high yield is investing in mortgage RETIS.
Mortgage REITs are dangerous to the average investor, but we can make a good return if we understand their cycles and other investing inputs.
Together, we can work as a community to build a successful homestead and ensure we are good stewards of our money.
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Investing for Interest 7: Series "I" Bonds For You and I
by Joshua King
Part 175 of the MFI Series1 series
Series "I" Bonds have been on fire recently. They reached interest rates above 7% because of their inflation protection adjustments.
But why are savings bonds vital to the overall health of your portfolio? How can you use them to get better results in your comprehensive cash flow retirement system?
We can use Series "I" Bonds in our emergency fund, defer taxes, and as a hedge against inflation.
However we use them, we need to keep their $10,000 annual limit in our sights. We want to maximize contributions to our Series "I" Bonds before inflation comes for us. This way, we lock in amazing rates when we need them most.
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Home Buying for the Average Person: The Window is Closing
by Joshua King
Part 176 of the MFI Series1 series
Home Buying for the Average Person is becoming out of reach. We have a few years (5-10) before even the average person will need to be a rockstar to buy a home. There is one solution-make more money. However, we can do this with a combination of choices that will give us the financial firepower we need. We can stay out of student loan debt, get a great job, start a business (or become a content creator), save for a down payment, and house hack. Doing all of these things together will put us far ahead of our peers and allow us to get into the home we want. And yes, it's a ton of hard work and sacrifice.
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My 7 Principles of Wealth
by Joshua King
Part 178 of the MFI Series1 series
Having a set of principles, you follow to become rich is necessary over your journey. You don't gather (and keep) a large sum of wealth randomly. Everyone will have their own principles, but overall they will abide by similar values. The more passionately you obey your principles, the better your chances of becoming rich. My seven principles are 1) Have Grave 2) Live Below Your Means 3) Leverage Your Time 4) Stay Out of Debt 5) Pay Yourself First 6) Save & Invest for Today & Tomorrow 7) Believe in Compounding. After reading my principles, you will need to build your list and follow it vigorously. Refine your list and make it into your mission as you keep getting results.
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Debt-Free Society: Beat Credit Card Debt
by Joshua King
Part 179 of the MFI Series1 series
Are you in credit card debt? Are you "sick & tired" of being "sick & tired?"
Well, there's no easy way out of credit card debt, but there is a path forward.
The most important aspect of paying off credit card debt is finding the reason you are in debt. Something is bleeding your pockets dry, and once you locate it, you'll have a good chance to destroy it forever.
The culprit could be your mortgage payment, car payments, or just plain over-spending on things we "want." Find it and destroy the leak. That is the start of a positive cycle that will change your life.
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Don't Work Hard for Money: Work for Income-Producing Assets
by Joshua King
Part 185 of the MFI Series1 series
Our parents taught us to work hard for money because that is how they survived. They told us to pay all of our bills on time and stay in good standing.
These are amazing lessons and will ensure that you always have lights, power, and food.
However, if you ever want to get out of the rat race, you'll need to obtain income-producing assets. These assets will work FOR YOU as you sleep, work, eat, and play.
To be truly free, you will need an army of income-producing assets. Since the beginning of time, the rich have used this secret; now it's our turn.
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Staying Debt-Free in Your 20s: Avoid Illusions of Independence
by Joshua King
Part 187 of the MFI Series1 series
Living the American Dream will drive you to be broke rather quickly. However, if you can leave your 20s with no debt, you'll have a fighting chance.
How do you stay debt-free in your 20s? First, you have to build the mindset that you are already behind financially.
If you can navigate through your 20s understanding that you need to save and invest at all costs, building positive cash flow will be easy.
The four things to watch out for are housing costs, college expenses, automobiles, and credit cards. If you can get a handle on these things, you're well on your way to living debt-free for the next 80 years.
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Staying Debt-Free in Your 30s: Finding the Right Spouse is Paramount
by Joshua King
Part 188 of the MFI Series1 series
Who you choose to marry is the most important financial decision of your life-don't take it lightly.
The good news is that if you learn to control your finances, you'll find someone whose goals align with yours.
If you and your spouse can work together, love each other, and prepare for the future, these could be the best years of your life.
Finally, you'll have to pick a home you can afford while allowing you all to save and invest for your future. It's tough but possible-if you make it a priority.
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Staying Debt-Free in Your 60s: Avoid Making Emotional-Based Decisions
by Joshua King
Part 191 of the MFI Series1 series
The most significant risk in your 60s is overspending on your family. We worked so hard to grow our income and assist our children, but our top priority is to protect our wealth.
We cannot make emotion-based decisions. We would love to send our grandkids to private schools or buy massive houses, but it may not be in the cards.
We have to make decisions based on facts and logic. Our choices affect the long-term health of our family for generations.
We can still have fun and make spontaneous moves, however, these will not be major life-altering choices. Our family will understand as their wealth and ours continue to grow.
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Staying Debt-Free in Your 70s: Prevent Long Term Care from Destroying Your Wealth
by Joshua King
Part 192 of the MFI Series1 series
The greatest threat to our wealth in our 70s is long-term care or some other medical emergency.
We can prevent these scenarios from destroying our lives by preparing as early as possible.
We can use long-term care insurance to dampen the costs of being put in a home. However, we can also use passive income to pay these costs.
By planning to make tons of passive income, we ensure we get the care we need moving into our later years. This protects our wealth and our families' resources.
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Free Food: Turn Your Garden Into a Business
by Joshua King
Part 196 of the MFI Series1 series
The world may never be the same. Inflation, wars, pandemics, and technology are colliding simultaneously.
As we move into the future of the metaverse and remote work, it's harder to purchase basics such as gas and food.
Learning how to grow our own food will be necessary in this new world. Soon, even driving may be a luxury.
As you begin your journey into starting a garden, document your path so others can follow. Many people will need to learn the ways of the Earth, so you may well guide them.
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Retirement Plus: Use Bonds to Supplement Your Retirement
by Joshua King
Part 197 of the MFI Series1 series
Bonds for every occasion. Bonds are an integral part of your retirement planning and portfolio.
Bonds (or fixed income) allow you to invest in assets that pay you interest safely. You may not achieve capital appreciation, but you keep your principal secure.
This means that you don't have to lose sleep during market downturns. During retirement, there is nothing more important than your financial security.
Building the correct allocation between stock and bonds comes down to your risk tolerance and acceptance. Either way, bonds will be your best friend during times of darkness.
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Income Investing Versus Inflation
by Joshua King
Part 198 of the MFI Series1 series
I can invest in high-yield stocks and funds and start receiving dividends next month, this is the definition of fast money. However, it takes massive initial funds to see a remarkable paycheck from dividends and income investing. Don't let this fact stop you from getting started. You'll start with an income stream of perhaps $10/month. This will turn into $100 or $1000/month if you keep at it.
The best part of income investing is that you reap the benefits now AND LATER. During inflationary times, we need this income to hit our accounts ASAP.
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