We all have financial goals, and while working hard at a job and investing wisely will get us there, it often takes much longer than most of us would like. Here I will highlight the online vehicles I’m using to reach my goals sooner rather than later.
Update, 3rd Quarter 2018:
I’ve made some changes in financial strategy over the last year or so. I no longer do drop-shipping on eBay, but do have a few items for sale. I’ve also increased my FBA presence. In fact, I started an LLC in Florida and have a relationship with a distributor who specializes in board games. My plan is to find a few more distributors and build up my products on Amazon.
I’ve learned a lot over the past 18 months about Bitcoin and other cryptocurrencies. I am now convinced that blockchain technology is here to stay and will have huge impacts on many industries. Bitcoin was the ground-breaker, but I believe newer cryptocurrencies will surpass Bitcoin and have a much greater chance of becoming mainstream.
I’m in the process of shifting some investments from stocks to precious metals and cryptocurrencies. I feel this will not only serve as a hedge for the next recession, but will also give me a chance for great returns as cryptocurrencies continue to increase.
My biggest cryptocurrency investment has the potential to be the first mainstream digital currency. They have partnered with the company that brought us ApplePay and VodaPay to help this become a reality. I’m very excited about the possibilities. You can learn more in my Crypto Club (email required).
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Thanks to modern technology, there are lots of options out there. I’ve been drop-shipping on eBay for the past couple years and 2016 was my first full year of being an Amazon seller through FBA. Here are my total online sales for 2016:
While $8,000 in sales is not bad, and there is potential there, I realize that to step this up to impressive levels would take a heck of a lot of time. Time that I just don’t have. I will continue to do both eBay and Amazon selling very part-time….
But I’ve found something that I think will serve me better.
I’ve been investing in the U.S. stock market since the beginning of the recession in late 2009. The average return from stocks is about 7 to 8% per year. By following good advice (Thanks Motley Fool!) I’ve been able to average about double that.
I’ve also tried my hand at higher-risk / higher-return investments, namely binary options with currency pairs. (FOREX) I paid for a service to receive buy and sell signals. I had limited success for a bit, but ended up losing my funds, basically due to 2 factors:
- Not being able to initiate trades immediately. (You never know when signals will come, and I work in a field where I can’t be glued to my smartphone)
- Getting in my own way. (I tried my hand at trades without signals when I had time but no signals were available AND I found my emotions getting in the way — I was chasing losses and acting like a gambler)
I’m sure many who have ventured into forex have had similar experiences. In fact, I’ve heard that up to 80 or 90% of forex traders lose money.
But there is definitely opportunity in FOREX. The Foreign Exchange Market is by far the largest market in the world in terms of trading volume. It runs in the TRILLIONS daily, compared with the NYSE at less than 200 billion (2013 figures).
Recently I was introduced to something that allows me to take advantage of the forex market while at the same time eliminating the negative factors above.
How does it do these things? Simple – it constantly runs trades without my presence.
It takes TIME and ME – the 2 Achilles’ heels in my case – out of the equation. Yes, I’m talking about a robot, also known as an EA, or Expert Advisor. You turn it on and keep it on (through a VPN) and it does it’s thing and does it well, consistently.
How well you ask? That is, after all, the most important question. VERY well indeed. After 7 years of testing & development and over 2 years of live market use, the impressive program averages returns of between 2 and 6% per month.
Yes, that’s per month, not per year. That is downright impressive, and it’s exactly what I’ve been waiting for.
**UPDATE**
USI-Tech, the company I partnered with for the trading bot, also offered a second product designed to maximize Bitcoin. While it worked well for about 9 or 10 months, the company couldn’t keep it up and now lots of us are waiting for the sloooow drip of funds they owe us. I made money from USI, but feel bad for all the people (including a few I introduced) who are in the red.