Setting the Goal
The overall Big Hairy Audacious Goal (BHAG) is to build a strong following of 10k subscribers in 1 year from scratch. Having absolutely no subscribers, website members (SIDEvestors), or any other type of following, I will use strategies I have learned to build and audience of those who want to seek financial freedom through increasing their financial literacy. The steps below will be showcased over the next year on YouTube and on this website. Follow along with me on this journey and increase your financial literacy on the way. The book list will give everyone a head start on the journey forward. I will create quarterly updates to show lessons learned and explain how I plan on adapting moving forward.
Building a Stock Investing Audience
I have heard many times throughout my career to “Invest in yourself!” This always left me wondering, “How?” When you think about investing in general, the first thing that comes to mind is investing in stocks. At first glance, this thought got me excited. I was going to be a big investor like the Wolf of Wall street! The problem is that when I finally sat down, the how was not very clear. Back when I started, every brokerage had fees and commissions. Now a days, there are commission free brokerages almost everywhere! For example, Robinhood is a free app that has not only commission free trading, but also the ability to buy partial shares. This way anyone can invest in Tesla, not only those that can afford the $650 share.
Topics Moving Forward
As I did research into stock trading, I learned about the metrics and terminology that could be found on a stock’s listing. I plan on going into detail on these terms and explain what I perceive as the good, the bad, and the ugly in each category. I will help build an understanding of an underlying company using the numbers. Multiple regressions in my statistics knowledge attempted to try and generate an equation to help guide investments. What I found is there are too many external forces that guide the stock price. However, these variables will give you a better insight and help guide sound financial decisions. I also plan on explaining the difference between types of stocks, ranging from ETFs, index funds, or simple company stocks. Mutual funds will also be included for those who want slightly more diversity, while being more hands off.
Helping More Advanced Investors with Option Trading
After investing for many years, a coworker came to me and told me that I needed to start investing in options. I had heard the term, but the complexity seemed daunting. Additionally, the trading platforms turned Greek (literally) and left me incredibly confused. Fortunately, I did extensive research, debunked myths, and learned strategies that worked for me. I plan on helping the novice investor understand what are options, how they work, and how options are used to leverage shares that I do not own to grow wealth. Just like with trading stocks, there are many brokerages that allow option training. Unfortunately, they do not all operate the same. I will break down each to help others find a preferred brokerage.
Create a Network of Real Estate Investors
Real estate is one of the best passive income sources for creating financial independence. Many people think real estate ownership is only for the rich. This is far from the truth. Rental income is one of the safest way to grow your wealth slowly. The rich person that comes to mind who has multiple properties and pulls in millions of dollars started at square one. Many of the authors in the book list started with nothing and built a real estate empire. Some authors used other peoples money to build their portfolio. I will highlight how to start a real estate portfolio to grow financial independence. One of the greatest strengths of current real estate investors is networking. This is why I want to get a network from 0 to 10k subscribers in 1 year, in order to provide this network to everyone!
Case study in Rental Property Investment
I currently am in the process of purchasing a property to rehab, rent, and refinance. This is a technique I will talk about. This case study will highlight what went well, what failed, and lessons learned for the future. As the project progresses, expect to see more photos and posts regarding the project.
Helping Those New to the Increasing Financial IQ
As I previously stated, “Invest in Yourself!” is heard across the world to young people. But, no one really explains how to do that. I will structure articles and videos as advice that I wish someone would have told me when I was just graduating high school. The topics range from bank accounts to credit cards. I want people new to the concepts of finance to adapt good habits to increase their wealth, while doing so responsibly. Rich Dad Poor Dad is a great starting point for all new to the financial game; however, I believe it missed an opportunity with the discussion of assets. The Rookie Series will give little nuggets of advice for the newest in the financial game.
Promise to be Persistent
My goal is to go from 0 to 10k subscribers in 1 year. To make this happen, I need to be consistent in providing quality content to all of you. While I cannot guarantee I will post an article a day or a video a week, I promise to post as much as possible. But, I will not jeopardize the integrity of this community.
