Is your money working for you, or are you working for your money? While the latter is all too common, there are many ways in which you can achieve financial freedom and gain the ever-lusted after luxury of more time by engaging in inactive income streams where the money earned requires little work, or no active involvement to generate ongoing capital. In this article, Bloom Investment Counsel takes you through interest income.
Capital gains income is a great income source where your money works for you, and not the other way around. Bloom Investment Counsel, Inc. actively makes the most of capital gains income on behalf of its clients, strategically purchasing equities when prices are relatively low, and (if the opportunity is right and there is no advantageous long term gain in sight), selling high so that clients can profit from the difference.
The 2021 IPO market has been an eventful one so far, with startups listed at sky-high valuations. Early investors have reaped large returns, meaning that venture capitalists have had more money to invest in new startups, shattering records for startup funding.
As we look towards 2022, there is still an abundance of up-and-comers amongst whom may be the next unicorn company. If you are in the early stages of entrepreneurship, or if becoming an entrepreneur is your New Year’s resolution, here are 3 business management tips for first-time entrepreneurs that can make all the difference.
Dividend income is a great way to reach the next level on your financial journey. Unlike some other income streams, dividend income is inactive in nature rather than active—after you or your investment manager have conducted research on which stocks are right for you, assuming you have a long-term position, you get to sit back and enjoy the ride! This is one of the pillar reasons Bloom Investment Counsel is so fond of dividend income—we are of the belief that you can attain true financial peace of mind through the inactive nature of this income stream, while still having time to dedicate to your business, your family, and your life.
You’ve likely heard of the phrase you only live once (YOLO), but have you heard of the term “YOLO Economy”? The so-called “YOLO Economy,” coined by the New York Times (2021), is a phenomenon in which millennials are reimagining their professional lives — some abandoning stable 6-figure jobs to start a new business, others turning a side hustle into a full-time gig or simply taking a break from the urban rat race altogether — and there is absolutely nothing wrong with that. After all, you do only live once.
However, while the financial consequences of this professional reimagining may be insignificant in the short term (due to fattened stay-at-home savings), the absence of a stable monthly paycheck may increase the financial consequences over the longer term. For those millennials who have abandoned their day jobs in pursuit of creative ways to reach the same goals through entrepreneurship with an au revoir to the corporate career treadmill, here are 3 realistic ways to save more money in 2022.