Wealthy Women Daily Invest in Your Dream Life
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If you didn’t have to worry about bills, what would you do with your money? Would you like to learn how you can pay your bills with your investment income? Are you wondering what it takes to build an income-producing investment portfolio?
It’s simple. All it takes is a strategy and a willingness to become a shrewd investor.
Where Do You Start?
If you can believe it, you can achieve it. You first have to believe you can pay your bills with your investment income. In order to believe it, you might have to see it.
Let’s talk strategy.
You can start by creating an income statement. For this exercise, you can focus on the expense side of the equation. Write down your variable and fixed expenses for the month. Fixed costs are the same amount every month while variable costs fluctuate. Fixed costs can include car payment, student loans, and rent/mortgage expense. Variable costs include light bill, gas, and food.
After you’ve listed all your expenses, you can circle the smallest expense. That’s your income target. This will tell you how much investment income you need to pay your smallest expense.
Build Your Investment Portfolio
Now it’s time to shop for assets. Based on your age, risk tolerance, and cash on hand, you can choose from a diverse group of assets to add to your portfolio. Some assets include stocks, precious metals, and digital intelligence.
Calculate how much you need to invest in order to get the monthly or quarterly income you need to pay your bills.
Our upcoming webinar focuses on income-producing stocks. Subscribe to Wealthy Women Daily to find out about our upcoming webinars.
Minimize Your Tax Liability
Not all money is free money. It all depends on your tax bracket and any credits or deductions you have that would offset your income. Talk to a trusted tax professional to learn more about tax benefits you can receive as an investor. For example, stocks held for over a year are taxed at long-term capital gain (LTCG) rates when sold. Capital gains rates are taxed more favorably than ordinary income.
Are you ready to set up your dividend portfolio so you can start paying your bills? Subscribe below and join us at an upcoming webinar!
Disclaimer: Wealthy Women Daily is solely educational and informational, and is not intended to give investment or trading advice of any kind. Not all asset classes are suitable for all investors. Wealthy Women Daily is a research academy that provides you with the data and analysis you need to make an informed investment decision. It is your responsibility to talk to an expert to understand how specific investments will impact you during tax time.
