trading
Crypto Tax Guide 2022: How to Report Crypto on Your Taxes
Make no mistake: You need to report your crypto activity on your tax return. Cryptocurrency has become very popular in recent years, and that hasnât gone unnoticed by the IRS. If you were active in the crypto markets over the past year, youâll need to report it on your tax return, or risk being penalized. […]
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What Are Dividends & How Do They Work? A Beginnerâs Guide
What are dividends? This is a question I hear quite often from people who are starting to invest. Or, you might ask, “what are dividends?” when learning about the benefits of investing. Either way, you will start reading about the term “dividends” as you start investing, saving for retirement, improving your financial future, and so […]
The post What Are Dividends & How Do They Work? A Beginnerâs Guide appeared first on Making Sense Of Cents.
Stronger Start Despite Stronger Jobs
Here’s a puzzler–at least at first glance. This morning’s much-anticipated jobs report came out stronger than expected with nonfarm payrolls at 223k vs a median forecast of 200k. The unemployment rate dropped to 3.5% vs a forecast of 3.7%. These developments would normally be associated with some bond market weakness, but the initial reaction–while modest–has been decidedly positive. The reason for the paradox is simple. Wage growth slowed more than expected and last month’s steamy number was revised sharply lower. This allays some of the Fed’s concern that high inflation could drive wage inflation, thus feeding the dreaded “wage price spiral.” This is exactly what the market is trading this morning. The Fed specifically mentioned wanting to see a slower pace of wage growth. That’s what today’s report shows. So the market is trading a slightly friendlier stance from the Fed, evident in stronger stocks and bonds. This may look like a meaningful move on the chart above, but the bigger picture hasn’t changed much. Next week’s CPI data has more of a chance to effect such changes.
$34000 a Year is How Much an Hour? Good Salary or No?
34k salary is a solid hourly wage; above most minimum hourly wage jobs. For most people, an entry-level job would be paying…
Read More… $34000 a Year is How Much an Hour? Good Salary or No?
Decline in U.S. Pending Home Sales Gathers Steam in September
How My Family of 4 Flies Free 6 Times Every Year
Mortgage Demand Falls in December to the Lowest Level Since 1996
Turn $0 to $10,000: 5 Ways to Make it Happen
Is it possible to start with nothing and make thousands of dollars? Many people have tried trading up, but I prefer more proven strategies. The answer is yes, but there’s work involved. Here are five steps you can take to grow $0 to $10000 within a year.
The post Turn $0 to $10,000: 5 Ways to Make it Happen appeared first on Good Financial Cents®.
Passive income ideas you can try today
Earlier this week, J.D. wrote about what he calls the biggest truth in personal finance: You can’t get rich through frugality alone. As Liz at Frugalwoods says, “You can’t frugalize income you don’t earn.” Income is one-half the fundamental personal-finance equation, and it’s probably the most important half.
J.D. advocates a three-pronged attack for boosting income: becoming better educated, becoming a more valuable worker, and learning to negotiate salary. But I think he’s missing a fourth important income source: the proverbial “passive income”.
I know, I know. Passive income has a bad reputation. Actually, passive income has a terrible reputation. And deservedly so. The Land of Passive Income is populated by scammers, hucksters, and charlatans. “Hey, little boy, wanna buy my course?” (Sorry, no links. They’re easy enough to find without us helping them.) That’s too bad because legit sources of passive income can be a great way to make more money.
What is Passive Income?
First up, let’s be clear: Actual passive “passive income” (as pitched by the scammers) is a lie. It doesn’t exist. When we talk about passive income, we’re talking about ways to make minimal money with minimal effort. Does that make sense? And it’s a supplement to your main income, not the primary source.
To me, passive income is money thatâs earned, usually on a recurring basis, without a significant time investment.
For example, if you own a rental property that brings in $1500 each month, but only requires two or three hours of time to manage, that’s (mostly) passive income. Most nine-to-five jobs are the opposite of this. The income you earn is tied closely to the amount of time you spend at the office.
Thatâs not to say that passive income doesnât require effort, though.
Often, thereâs a lot of upfront work required before income can become passive. Using the same rental property example, before you can make any money, you have to purchase and renovate the property, and spend time advertising and interviewing potential tenants. All of that takes time and money.
Or, take J.D.’s book as an example. When I asked, he told me that he spent four months working full-time in 2009 and 2010 to write Your Money: The Missing Manual. That’s not passive! But he hasn’t touched the thing since then, and he continues to receive $50 checks every month. That is passive.
Passive Income Ideas You Can Try Today
Some degree of passive income is possible — and without shyster shenanigans. In this article, Iâve compiled 40 passive income ideas for you to consider. Not all of these passive income ideas will be right for you. In fact, maybe none of them will fit you. That’s okay. But I’m willing to bet that many GRS readers will find at least one source of inspiration here that they can use to help increase their income…even if it’s only a few dollars per month.