Professor Scott Galloway from NYU Stern nailed it when he described the impact of COVID-19 on the global economy as not being a “change agent” but an “accelerant.”

By an accelerant, he means that in 2020, many trends that were already taking place moved forward 10 years in a matter of eight weeks. Some examples include;

• The shift from physical to online retail.
• The shift from going to a movie theater to watching Netflix on our couch.
• Having household items like groceries delivered right to our door.
• Working from home rather than in the office.

None of these trends are new, but the rate at which they have been accepted as the common practice has accelerated faster than most of us thought possible. …

In 2020, I wrote quite a bit about the importance of saving more of the money you already have and finding ways to make more money.

Today, I want to go deeper on these concepts and take them from the hypothetical to the real world and detail my plan to save 83% of my income in 2021.

Calculating my savings rate

We need to start by establishing a shared understanding of what I mean when I say I plan on saving “83% of my income in 2021.” To do that, you’ll need to know the difference between gross and take-home pay.

• Gross pay= The total amount you make before any taxes or deductions are considered. …

Finance newsletter

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How I Made $100k in Real Estate In One Month

Written by: Building Arks with Jason Clendenen

Let me start by saying I’m not writing this to brag. This is to share my story in the hope that it helps people see the opportunities that are around us every day to improve our situation. It takes financial education and a willingness to try new things, but the possibilities are endless.

I keep track of my financial metrics every month. I track both the monthly cash flow as well as the appreciation of my assets, totaling up to a total monthly cash flow vs. …

Investing

One of the most important investment decisions you can make is how to balance your portfolio. Meaning, how much of your portfolio should be allocated to risky assets like stocks and risk-free assets like bonds?

Most financial advisors will make a recommendation based on your “risk tolerance” and your years to retirement. The idea is that if you have a long time until you retire, you have plenty of time for your investments to recover.

The conclusion tends to be that the younger you are, the more you should weight your portfolio towards risky assets like stocks. …

lWriting professionally

I’ve been writing professionally as a side hustle for three years. During that time, I have researched and experimented with all types of monetization.

This has led me to a very simple conclusion.

Putting your writing behind a paywall is the simplest and most honest way to earn money as a writer and by far the best experience for the reader.

In this article, I explain why asking readers to pay for your work is the best way to earn a living as a writer.

When you're starting out, don’t worry about monetization

The worst thing a new writer can do when they are just getting started is to focus on making money. I know that’s not what you want to hear; after all, you have bills to pay, and you deserve to be compensated for your hard work. …

Welcome to the Making of a Millionaire weekly newsletter, where we highlight the latest and greatest content we have to share with you.

The Easiest Way To Get Rich With Stocks

Written by Rocco Pendola

I have been investing in the stock market since I was a teenager. I’ve tried every strategy in the book. I’ve made enough mistakes to write several volumes.

In this article, I detail the two stock-picking conclusions I have come to. If I had settled on these two styles of investing 32 years ago, I’d probably be a millionaire several times over today.

Read the full article

We are Giving away a free eBook

Making of a Millionaire recently published a new eBook: Everything You Need To Know About Debt. …

If you want to turn writing into a profession on a full-time or even part-time basis, you need to build an audience. A group of people that eagerly await your latest work.

Too many articles you’ll read online talk about how to build a “massive audience.” You do not need millions, hundreds of thousands, or even tens of thousands of people to follow your work to be a successful writer.

I would take 1,000 true “fans” of my writing over 100,000 people clicking on one of my stories and then moving on and forgetting that I ever existed. …

The only goal I’ve ever had as a personal finance writer is to share with my readers everything I have learned from years spent obsessing over personal finance.

My writing has largely reflected the financial issues I am focusing on in my own life.

• In 2018, when I first started writing about personal finance, I focused on paying off debt and investing in low-cost index funds.
• In 2019, when my debt was gone, and my income kept steadily increasing, I turned my focus to the Financial Independence, Retire Early (FIRE) movement. …