My Lending Club Investment Review (what I did wrong 😭)

April 17, 2018

This video shows you all of my LendingClub accounts and what I did wrong and how I plan to fix it with my new LendingClub account.

Get started with LendingClub here:

➡️https://www.goodfinancialcents.com/resources/lendingclubinv-youtube-get-started-with-lc.php

Do you really want to loan money to family or friends and risk having them not pay you back? 😲

What if you could loan your money to a stranger instead (and make interest)? 🤔🤷

➡️ That is what peer-to-peer lending is all about.

One of the largest peer-to-peer platforms is LendingClub. In this video I will show you how you can use this platform as an additional investing tool.

Lending Club is an online peer-to-peer (P2P) lending platform that takes the banker out of banking.

Investors lend money directly to borrowers through the website, enabling both to benefit from the rate of interest established for each loan.

And just as important, the entire transaction happens online, eliminating the need for sometimes embarrassing face-to-face meetings common with bank loans. 😳

It’s a win-win as both the investor and the borrower benefit from the LendingClub process.

➡️ There are two ways to invest with LendingClub.

Manual investing is where you browse available loans and choose which ones you’ll invest in one at a time.

💻 But you can also use automated investing in which you set investment criteria, and notes are selected automatically based on that criteria.

⁉️ Like any investment there are some risks.

It’s important to realize investments held through LendingClub are not bank assets, and as such they are not insured by the FDIC.

Individual loans can go into default, and if they do, you will lose that portion of your investment.

In addition, a missed payment by a borrower means you will not get the payment on that loan in that particular month.

LendingClub does use “best practices” to collect payments from delinquent borrowers, but some will default nonetheless.

You can also hold LendingClub investments as part of an individual retirement account (IRA).

You can do this through a LendingClub self-directed IRA. LendingClub will pay the annual IRA fee if you open the account with a minimum of $5,000 and keep that balance level for a minimum of 12 months.

Read more about LendingClub on my blog here:

https://www.goodfinancialcents.com/lending-club-review-for-investors-and-borrowers/

Learn more about peer to peer lending here:

https://www.goodfinancialcents.com/peer-to-peer-lending/

➡️ Get started with LendingClub here:

https://www.goodfinancialcents.com/resources/lendingclubinv-youtube-get-started-with-lc.php

Disclosure: I receive compensation from LendingClub for anyone that signs up through my affiliate links.

The results shown here are specific to my personal accounts and may not be representative of the experience of other LendingClub investors and are not a guarantee or indication of anyone else’s performance or results.

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How to Invest: Top 9 Ways to Invest $10,000 💰(real life strategies)

April 13, 2018

Do you remember the first time you wrote a check for $100?

What about your first $1,000 check? I bet you weren't wondering how to invest $1,000 dollars then, were you? Even better, your first $10,000 check?

The first time I wrote a check for $10,000 was to pay off my student loan debt. That was, by far, the best check I ever wrote!

For me the choice was clear, but where to put an extra $10,000 isn't always an easy decision. I'm here to help! Here are 9 great ideas on how to smartly invest $10,000.

 

▶︎1. Stock Market (5:26)

If you want to put your money into a virtual autopilot situation, a robo-advisor may be exactly what you’re looking for.

What is a robo-advisor? It’s an online investment management platform, often referred to as a robo advisor, because everything is handled automatically for you.

✅Open an Account at Betterment here:

https://www.goodfinancialcents.com/resources/betterment-youtube-invest-10k.php

▶︎2. Buying Individual Stocks (9:19)

You can open an online discount brokerage account through companies like TD Ameritrade and Ally Financial.

✅TD Ameritrade
https://www.goodfinancialcents.com/resources/tdameritrade-youtube-invest-10k.php

✅Ally Financial
https://www.goodfinancialcents.com/resources/ally-youtube-invest-10k.php

 

▶︎3. Tax-free goodness - Roth IRA (11:42)

You can only put $5,500 in for yourself, but you could also put in $5,500 for your spouse.

Learn more about how to become a Roth IRA Millionaire here:

https://youtu.be/Cy8EsjQyREo

 

▶︎4. Peer to Peer Lending (12:13)

If you prefer fixed income investments to equities, peer-to-peer lending offers an opportunity to earn interest rates that are well above average.

There are various peer-to-peer lending sites on the web already, the two I recommend are Lending Club and Prosper.

Open an an account with Lending Club here:

✅https://www.goodfinancialcents.com/resources/lendingclub-youtube-invest-10k.php

Prosper here:

✅https://www.goodfinancialcents.com/resources/prosper-youtube-invest-10k.php

 

▶︎5. Real Estate (14:14)

Real estate is an excellent investment, no doubt about it. But $10,000 isn’t enough to make a down payment on the purchase of an investment property these days but that doesn’t mean that you can't invest in real estate.

🏡If you don't want to manage properties and still make money from real estate, check out Fundrise:

https://www.goodfinancialcents.com/resources/fundrise-youtube-invest-10k.php

▶︎6. Annuity (20:55)

You guys know I am not crazy about annuities 😆, but there are some instances where they are the better choice. If you are 5-10 years away from retirement, this may be the perfect opportunity for you to invest in some safe retirement opportunities.

▶︎7. Invest in a Business (23:15)

This is yet another example of investing in yourself. By starting your own business, you put yourself in a position to take maximum advantage of your knowledge, skills and abilities.

Thanks to the Internet, it’s very possible to start your own business with just a few thousand dollars.

▶︎8. Coaching Programs (26:46)

When we think of investing, we generally think of putting money into assets with the hope of getting a return on the investment. Anything that you can do to improve your knowledge and skills – that will either enable you to live better, or to earn more money – is a true investment.

One of the ways to do this is to put some of your money into coaching programs.

▶︎9. Cryptocurrency (30:14) Yes I finally did it- I invested some money in Bitcoin.

Give a couple of these a try and see if they'll work for you!

Get all the details on the blog here: https://www.goodfinancialcents.com/how-to-invest-10000-dollars/

★☆★Resources Mentioned In The Video★☆★

🤝Peer to Peer Lending Options:

Lending Club
https://www.goodfinancialcents.com/resources/lendingclub-youtube-invest-10k.php

Prosper
https://www.goodfinancialcents.com/resources/prosper-youtube-invest-10k.php

🏢Online Real Estate Options:

Fundrise
https://www.goodfinancialcents.com/resources/fundrise-youtube-invest-10k.php

📈Get Started Investing Options:

Betterment
https://www.goodfinancialcents.com/resources/betterment-youtube-invest-10k.php

TD Ameritrade
https://www.goodfinancialcents.com/resources/tdameritrade-youtube-invest-10k.php

Ally Financial
https://www.goodfinancialcents.com/resources/ally-youtube-invest-10k.php

Watch Now:

You’re Making The Worst Mistake of Your Career

April 4, 2018

Today I want to talk to you about failure.

🛑 Not YOUR failure.

🛑 Not MY failure.

I'm talking about when someone else tells you that you are going to fail.

I worked for 5 years with a finacial investment firm. It was a great position and I enjoyed my job. I got really close to one of my mentors. I valued his advice and thought of him as a father figure.

Then the company sold and I felt that I needed to move on. I decided to start a firm with some of my fellow co-workers. Everyone told me I was making a bad decision.

Even my trusted mentor. ⁉️ They actually told me that it was the worst decision of my life. That this wouldn't work out and I would fail.

How do you deal with this kind of feedback?

How do you know that you are making the right decision? I felt in my gut and my heart 💓 that I was doing the right thing, but was that enough?

👂 I listened to what they had to say - but I didn't let if affect my decision.

If you find yourself in this position, where someone you trust and look up to makes these kinds of comments to you -

I want you to ask yourself three questions (and I talk about these questions in more detail on the video):

1. Where are they coming from? (Are they thinking of you and your strengths?)
2. What if they're right? (what's the worst that could happen?)
3. What if they're wrong? (what if you don't take this opportunity?)

It is hard when someone you trust and respect tells you that you are making a bad choice, that you will fail. Part of you feels like you may be letting them down if you follow through.

🤔 Another part wonders why they don't have confidence in your abilities.

Don't let that self-doubt creep in just because someone else questions you.

I didn't and it turns out they were wrong and I am glad I didn't let their self-doubt decide my future!

★☆★ Want More Good Financial Cents? ★☆★

💻 Check out my blog here: https://www.goodfinancialcents.com/

Listen to my podcast here:

🎙 https://itunes.apple.com/us/podcast/good-financial-cents-podcast-investing-building-wealth/id775107294?mt=2

Pick up my best selling book, Soldier of Finance, here:

📗 http://amzn.to/2xOH78V

Connect with me on Twitter:

https://twitter.com/jjeffrose

My most favorite inspiration T-shirt line, Compete Every Day:

👕 https://www.goodfinancialcents.com/compete

Watch Now:

The Most Important Thing You Need (but won’t admit it) 😴

March 27, 2018

Does this sound familiar:

*️ You're overworked
*️ You're stressed
*️ You're putting in more hours than you can count

But you have a career or financial goal that you are trying to accomplish so you are doing what you think it takes. 🏃🏃

I was doing the same thing.

There was still one thing that was missing.

⁉️- So what is this one thing?

This thing that most successful business owners and entrepreneurs know about?

REST ‼️ 😴

📖 I started reading this book title Rest by Alex Soojung-Kim Pang and one of the things it talks about is that rest is not given to us, we have to take it.

📍Pick up the book, Rest, here: http://amzn.to/2Fy2fsb

This gives you time to refresh and find renewed focus!

Here are three key strategies that I implemented--and you can find out more about each in the video!

1. Taking a Free Day (24-hrs without work related activities)
2. Remove distractions (put the phone down)
3. Schedule an activity (get out of your routine)

How many free days have you taken in the last year?

Schedule an activity outside of your house. Go on an adventure!

Are you taking enough rest?

Do you unplug on the weekends?

Watch Now:

How to Write a Book and Get Paid (how much you really make❓)

March 23, 2018

If you have a book idea, how do you take that from idea to getting that book out there?

How do you get published?

💰 How do you get paid? 💰

I want to share my journey of becoming a published author with you today.

My 1st book, Soldier of Finance, released in 2013. You can check it out here: http://amzn.to/2oUa6FV

Be sure to stick with me to the end to find out how much I got paid.

💡 So first my idea - it actually came from a moment of disappointment.

I was contacted by CNBC who wanted to interview me as an Independent Certified Financial Advisor for a show they were doing. 😃

The flew me out, did the interview, and then the show was cancelled. 😞

But the producer said to me, "You know you should write a book that talks about the soldier's discipline to investing.

🎆🎆 Boom! This really resonated with me and I knew I had to write this book.

So I have the idea, now how to get published?

I know I had the option to get published on Amazon, but I wanted to use a traditional publisher. I wanted to be able to go into the book store and see my book on the shelf. 📚

I contacted multiple agents -- with zero success. All the big publishers said No!

While they liked the idea, I was a new author and they wanted to focus their time and resources on promoting their top authors.

But I kept trying and I finally found a Publisher that said Yes! The publisher was Amacom.

Now that I have the book and the publisher, how do I get paid?

For me, as a new author, I received a [have to watch the video to find out 😆] advance for projected sales, up front. I also receive residual checks twice a year based on actual sales.

So that is the basic run down on how to write a book and get paid. If you are interested in purchasing my book, you can find the link below. 👇

★☆★ Want More Good Financial Cents? ★☆★

💻 Check out my blog here: https://www.goodfinancialcents.com/

Listen to my podcast here:

🎙 https://itunes.apple.com/us/podcast/good-financial-cents-podcast-investing-building-wealth/id775107294?mt=2

Pick up my best selling book, Soldier of Finance, here:

📗http://amzn.to/2oUa6FV

Connect with me on Twitter:

https://twitter.com/jjeffrose

My most favorite inspiration T-shirt line, Compete Every Day:

👕 https://www.goodfinancialcents.com/compete

Watch Now:

Pricing Strategies: How to Get Paid 200% More For Your Service (the WYW Formula™)

March 15, 2018

If you are a service provider, freelancer, or creator of any kind, then this video is for YOU!

I've been there too - Pricing your goods or services for sale is tricky! Am I not getting paid enough? Should I be asking for double that?

Are you really worth THAT much money? The answer is YES. 💰💰 Take it from me, you totally are worth more than what you've been getting paid before.

To help you out with your next pricing dilemma, I've created the "WYW Formula" - check it out! It is time you take back the power and kick butt!

Here's what you'll learn in this new video:

▶︎ How can you get paid 300% more by using the WYW Formula. #ChaChing

▶︎ Is this magic? ✨✨ The WYW Formula? ✨✨ No magic here... just my years of experience comin' at you in full force saying ASK FOR MORE YO!

▶︎ What project I turned down $12k for because it didn't meet the WYW Formula. And what I actually got paid for that project in the end.

▶︎ Scared to ask for what you really want to get paid? I've got two tips! that will help push you to the next level. 👊👊

 

Watch Now:

Why This 4️⃣ Letter Word Is the Most Important Trait You Need to Succeed [GRIT]

March 14, 2018

Have you ever wondered what catapults regular people to the highest levels of success?

❓ Is it genius, or a stroke of luck? ❓

And, what about the world's smartest people?

Why are some of the world's brightest scientists and mathematical geniuses flat broke and not living up to their financial potential? 🤔

💡 The answer: Grit. 💡

In my experience as a financial advisor and business owner, some people have it and others just don't.

📖 If you look up the word "grit" up in the dictionary, you'll find words like courage, resolve, strength, and character. But, in the real world, having grit means having the ability to overcome hardship.

Here are four ways to get some grit into your life -- and your business plans:

1. Learn to look on the bright side. If your goal is learning to
overcome adversity through sheer grit, learning to focus on the positive can help.

2. Focus on who you want to be -- not who you once were.
(It's easy to focus on your past mistakes and let them get you down. To learn grit, and to use it to become successful, you have to focus on who you want to become instead.)

3. Practice getting up when you fall. (Hatch a plan to reach a more successful outcome next time.)

4. Develop a solid support system. (Making sure you're accountable to someone can absolutely help you learn grit and apply it in your life.)

ℹ️ Grit is the reason some people are successful even though they aren't any smarter or better than the rest of us.

💻 Read more on the blog here: https://www.inc.com/jeff-rose/why-this-4-letter-word-is-most-important-trait-you-need-to-succeed.html?cid=search

Watch Now:

Do I Have A $1 Million Idea? (shhh…It’s a secret 🙊)

March 14, 2018

Today I am meeting with Andy Traub because I have an outstanding idea for a course.

I have been bouncing this idea around in my head for over a year now and I think it is time to put it out there.

The problem I am having is that there are so many different directions I could go with this and I am having a hard time picking one direction. 😕😕

This is where Andy comes in! Andy is able to listen objectively to my idea, and all the various choices, and then pinpoint what I need to focus on to get out of analysis paralysis and get this out there.

📽️ The best take away from this video - you don't have to have everything perfect to get started.

🏃You just have to get started! 🏃

Start with version 1.0!
Put that out there, then let it grow and evolve into version 10.0.

💻 You can find Andy Traub at TakePermission.com

📌Are you interested in learning more about my wealth building course?

✅ I’m accepting applications here: https://www.surveymonkey.com/r/wealthbuild1

Watch Now:

7-Hard-Money-Lessons-I-Would-Give-My-20-Year-Old-Self

March 1, 2018

If you’re tired of making stupid financial mistakes, then this video is for YOU!

In the present day, I'm a successful financial advisor and entrepreneur.

Based on some of the boneheaded money decisions I made in my 20's it is a miracle I can even say that.

I've definitely learned from many of those mistakes, but if I had the chance to hop in a DeLorean and go back in time, here are 7 money lessons I would love to give to my 20 year-old self

 

Here's what you'll learn in this new video:

▶︎ Why what I‘ve bought and worn were some of my best fashion choices but financially? They were the worst choices possible.

▶︎ Did I go to NYC in college? What about Europe? Hear and find out what my travels looked like in college and what I would do differently if I could.

▶︎ If you’ve been around here for any period of time you know I love investing. WHATEVER YOU DO, INVEST!!!! 💰💰

If you missed one of my latest videos showing how I helped a 16-year-old learn to invest in a big way, then check it out here:

https://www.youtube.com/watch?v=l9KO265xN10

▶︎ Why am I suggesting you spend more time reading books? Because readers are LEADERS.

📚 Some of my favorite books include:

The Automatic Millionaire, David Bach
Rich Dad, Poor Dad, Robert Kiyosaki and Sharon Lechter
Total Money Makeover, Dave Ramsey
The 4-Hour Work Week, Timothy Ferriss

▶︎ Can you really get rich off MLM? Don’t waste your time with multilevel marketing, PLEASE! 🙏

▶︎ Here’s how I ditched the MLM and started my blog, GoodFinancialCents.com and it really hasn’t been a disappointment.

▶︎ Are you as smart as you think you are? Here’s how surrounding myself by mentors radically changed my future.

▶︎ What does a good mentor that you should seek advice from look like? Professionally? Personally? Plus my best tip on HOW you should ask to get advice from a mentor you admire.

▶︎ Feeling like your dreams are too far off? Here’s how I know you CAN achieve them.

Watch Now:

5 Money Saving Hacks Will Make Me $4.1 Million Dollars

February 23, 2018

Money savings hacks for the win!! 🙌🏼

When it comes to getting ahead financially, finding a way to boost your income can be especially powerful.

With more cash at your disposal, you can save more, invest more, and grow wealth on a grander scale. Sounds awesome, right?

But, what about saving money? For many people, the thought of saving money makes them want to cry. 😭

You see, saving money can sometimes mean cutting back. Occasionally, it can mean going without the things you want, too.

In the worst cases, saving money can be an absolute drain on your life force. Spend a morning cutting coupons and you'll know exactly what I'm talking about.

Personally, I'd rather beat myself with a stainless steel spatula than cut coupons for 5 minutes.

Here's the thing, though: Believe it or not, I absolutely love saving money.

Just not in a “let's spend all weekend cutting coupons kinda way”.

Let me explain…

While saving money isn’t quite as sexy as earning more, it can be just as powerful – especially if you do it right.

I’m not talking about cutting coupons here, nor am I talking about shopping second-hand, eating ramen twice a week, or sewing your own clothes.

I’m talking about saving money on a larger scale, using money hacks to slash your expenses, and thinking outside of the box to redesign the way you spend.

sing a few strategies and without sacrificing much at all, I have saved over $4.1 million dollars over the years. Can you believe that?

4.1 million dollars!

Don’t believe me?

Here are 5 money hacks that have led to millions in additional earnings and savings over the years.

Some of these numbers are estimates, but you'll get the picture as we go along.

Check out the blog post here:

https://www.goodfinancialcents.com/5-money-hacks-saved-4-1-million-dollars/

Watch Now: