I’m in all five income sources plus pension income. I retired at 59 and don’t regret a second. My favourite income source is dividends, especially dividends that grow every year. The regret I have is that I didn’t start this strategy when I was very young. Had I started earlier I could have retired at 40.
@@mrbeastt4682 Good on you dude! I'm about to get into my first short term rental property to help fun my acreage development. I want out of the matrix as early as or before OPs age 😄
W2 employee here, with 1099 side income. I also have dividends and interest payments as well. Plus, a few growth stocks that don’t pay dividends, but I can sell eventually and buy more dividend stocks or add to current positions.
I am an HVAC/Refrigeration contractor. I work pretty much every day,, no weekends or OFFs. Its obvious that I am doing something wrong; I work 12-14 hours everyday, I have customers signing in a waiting line simply because I cannot help everyone... But, I am still pretty much don't have savings for retirement and this contractor's job is the only income I've got. Thank you for your videos. I will turn my head towards passive incomes now. I've got massive experience with rental properties.maintenance and repairs for other people. I guess, it's the time for me to get my own rentals.
Great question, in order to assist you further, I highly recommend you attend our Free Tax & Asset Protection Workshop where our attorneys and specialists will answer all your questions live at the virtual event. aba.link/taptoby
Raise your prices; find tax advantaged places to stick your money, maybe change the tax status of your business. Still working on it but my goal is to use tax planning to determine ahead of time how much money am I even trying to make? Where will it go once I make it? If I'm just going to get taxed to death on the income, should I even take this job? See if you can buy yourself more time to think, Idk how else to get out of the over worked contractor rut but I'm trying haha good luck!
Well, I don’t have a goal to robbing people. I am trying to treat my customers the way I would like to be treated myself. However, I know for sure that I will raise prices 20%-25% most customers wouldn’t even notice. I guess, I am going to think about prices.
Yes, I am thinking about prices. However, 99% of my customers are small businesses like myself; gas stations, grocery stores, restaurants… I cannot rob these people just because I want more money. There should be another way. Trying to hire a helper.. it’s a headache task. :)
My favorite is: finding a small cap stock, that has no institutional investors. But has a formed base. And fluctuates 5-10% a day. And before it breaks out, I start buying it at a low. And wait 2-3 days. And when it goes up to it's normal high, I sell it.
I like to have SCHD. 20% of each ROTH IRA Portfolio. Yield: 3.75%60% SPY20% Various Income Funds, PFF, ILTB, TLT.......What are more interesting buys to grow and safeguard $300k for 6 years? Real estate or maybe Gold
in my opinion, I think you're better off discussing with a proper advisor to help create a basket of securities in order to achieve growth with your capital if you're thinking long term
Rent is my favorite thank you for the information you are a wonderful person and very much God's send 🙏 I am learning a lot of info coming from you 😊 u are a good professor.
Monthly Cash Flow In Order of Priority/Income: 1) Rents from automated/unmanned self-storage facility 2) Residential rent 3) Small business that cash flows well off of just a few hours a week 4) Commercial RE fund 5) Interest: TBills, iBonds, Savings currently averaging 5% 6) Physical metals 7) Stock w/annual dividend payout
I realized how crazy the real estate market has become recently. I work in longboat key so there are some really nice houses there, I was curious as to how much they were worth. I looked up one house that was sold for $850k in 98 and now it’s on the market for $10mil that’s insane but, I feel like there’s no entry for that kind of stuff anymore. if you’re in it you’re in it and it’s a much tougher market to get into than back then
I did very well in what we call "swing trading" for 2023 but i was not educated on taxes, and i got bad surprises for my taxes 2023 that i am currently filling. I am looking for to incorporate this week. I am a 1099 with my other business, never thought that you coud incorporate trading. Thank you for the "Ah Ah" i am looking for to learn more and more from you :)
I know you cater to a certain financial group, but I am in a different financial group and would like to utilize your strategies and information. My question is, how can I begin to create wealth being low income and 67 years old? I have accounting background but was a single mom. Now I am trying to build something for myself and something to leave my children and grandchildren. Any advice, videos on this, or direction? Thank you so much for all I am learning from you!
I recommend joining our free Infinity Investing Workshop, where we cover various strategies tailored to different financial backgrounds. It's an excellent opportunity to explore avenues for wealth creation and receive personalized advice from our experts. Visit: inf.link/g5x
So true....I am an Engineer, worked hard since I left University in 2007 & lost everything I worked hard for in divorce including access to my daughter. Never again!
Besides revenue from work, dividends from stocks. I must learn more about covered calls, because heard a lot of good comments on this. Rents are good, but not for everyone, so I invest in REITS instead.
Great question. To explore this further and discover alternative investment options like REITs, I invite you to attend our free Infinity Investing Workshop. It's an excellent opportunity to delve into various investment avenues and learn how to diversify your portfolio effectively. inf.link/g5x
I love how you take your time to educate your viewers we all strive towards financial stability and a better Life. It is easy to achieve this through the right investment, by living frugally and budgeting. I'm glad I learnt early in life to work hard for financial freedom
1st time seeing one of your videos and I am hooked! I love the simplicity. I have been an investor in all of these types and sometimes get sucked into shiny objects, *this video has inspired me to adjust my overall portfolio!*
Any courses that you know of that teaches this orrr well and or do we have to know this to be able to ask for it at Anderson Law? I want it all but I don't always know what to ask for so I hope its recommended as it's helped being put in place. Looking forward to the nonprofit workshop today.
I highly recommend you attend our FREE Infinity Investing Workshop. We teach various passive income strategies for long-term growth. Visit: inf.link/g5x
The problem with covered calls is that they don’t work in a bull market, particularly when the market really pops as it recently did. You would have been much better off not selling the calls.
You are correct. In fact, long term, selling covered calls is a losing strategy over buy and hold. The lost opportunity when the market runs up (and it always does) is greater than the income selling calls.
Selling covered calls works even in a bull market. You simply roll your position forward to a future date and get paid again to do so… often for a higher premium than you received initially.
Dividend stocks, interest and real estate are great cash flow assets. Real estate does require more capital which may not be suitable for some investors. I am looking at JEPI for monthly income and would like to hear your thoughts on that fund.
Toby, I recently was sworn into the Massachusetts bar. I loved learning about tax in law school, but sadly never took estates. Now, I'm starting out as a solo estate and tax planning attorney, and I find your videos so informative! Thank you so much for producing such cogent and concise videos! I'll certainly share with colleagues
Congrats on joining the profession. Best of luck as you build your practice. My experience is that the more you give the more you receive:-) Be a giver and you will do awesome.
Have W2, Rent, interest. Question about dividends. In looking at dividend mutual funds they perform much lower than my current portfolio. Trying to understand why to diversify into dividend funds.
Your video is really interesting and very helpful. I really liked the content. Please make video on Dividend Aristocrat stocks. This is Mukund Pawar from Mumbai,India. Thank you! Toby Mathis for such a wonderful video.
I investing in gold and silver trust and mining reits global and treasures bonds and banks and S&p 500 indexes and other ETF dividends on top of traditional and Roth IRA full and fractions stock plus physical holding silver and gold and numismatics coins
My experience is they build multiple streams of income as they go. Studies that shown 90%+ of millionaires are made and that the top 3 professions who are millionaires are engineers, accountants and teachers. So the answer is pretty clear. They get rich investing in multiple streams of income.
You are a genius! You provide helpful advice and present your points clearly. Thank you! My favorite passive income is dividends because it's virtually effortless.
Rentals #1, it's what we know, so it is best for us. Money in the market is managed and has done well but any dividends are reinvested. We also have W2. We can comfortably live on the rental income at this point.
@@myllamaMan 1st one was one we had lived in, and was financed. All the others were cash. Once you have 5 free and clear, it generates enough to purchase another like property every 2 years. The issue then, is finding good rentals to purchase.
Night dipper I totally agree with you and I have done the same thing with my rental properties. The first one was the hardest but once it was paid I built another and then when it was paid I built another. Real estate is what I know and understand and where my talent is.
The heck with the like button! Where's the ❤ button? Interest and dividend income seem to be the most attractive. However I think STCG could be a way to build the other passive income streams. Great content!
i understand all this and will get myself all these types of income. the ONLY thing i don't get is royalties... gimmie some examples. how do you depreciate it all in 1 year? doens't make sense
Toby, my favorite income out of the five is dividends because it can two in one in regards to being a capital gains opportunity as well of the stock goes up.
It does matter - but not a ton because dividends are taxed at the favorable long term gain rates (0, 15, 20%). If you are MFJ and below $90k in AGI, I would own individually as the dividend rate is likely 0%:-) If you are higher income, I like deferred revenue accounts to avoid any taxes for a long period of time. Sorry to give you the "it depends" answer, but it really does depend.
Thanks! Great video. I have a few questions. First, I am 47 I work the government and I have a pension as well as deferred comp account (Roth) I was also in the military and get money from my service each month. I have been investing for 15 years so I have a decent amount. My question is since I have all of this built, would you suggest I just continue with the deferred comp and pension or add a reit etc? Since I have a decent amount close to 100,000 in my deferred comp would you suggest I just stick with what I'm doing since it's already built and build on the 100 or start over with something like a reit? I put 600 a month into my deferred comp already. Plus another 500 a month in my pension is invested for me. I have 10,000 in crypto as well. Any help would be appreciated! So add to deferred comp or add other stuff?? Thanks!!
Thank you for your question and I appreciate you supporting my video! To get a comprehensive answer tailored to your specific situation, I recommend attending our Infinity Investing Workshop. Sign up here: inf.link/g5x
More income, more taxes. Not against it, but l prefer making an extra 50k a year in the market doing nothing. Did the rental property thing and that’s a headache.
Toby, I became a big fan of your content. I have a question if you pass on your real estate the heir will inherit at step up basis, What about the Stocks in my regular trading account. would the same treatment applies their? Thanks DP
He said throw a few thousand dollars in prosper. What is prosper? I could throw some money in there now what’s the return on investment? How do I look it up? I just type in prosper online. It’s not gonna give me what he’s talking about I’m assuming.
You are blowing my mind dude. I've been buying dividend aristocrats lately. I think the next step is setting up structures for the next moves. Interesting stuff. My side hustle has outgrown my day job. Legal cannabis industry. I'll probably reach out in coming weeks. thanks.
Oil and gas is actually important to many of my clients. The deduction from intangible drilling costs is a life saver to my folks who have deferred comp plans or who have windfalls. I have to throw it in there because it becomes critical to those who cannot offset their W2 income and need income that avoids employment taxes.
Not true. The 16th Amendment was ratified on February 3, 1913, and it states “The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census enumeration.”
We'd be delighted to assist you with your taxes. To discuss your specific tax situation and explore the best strategies for your needs, we recommend scheduling a free strategy session. Click here to get started aba.link/8dv
Personally, I think investors will start to seek more market diversification. can i confidently invest about $350k into the financial markets in 2024? I'm still not sure how rates will effect the market just yet, which worries me a lot.
Would you like to learn more about this topic? Join Infinity Investing as a Basic Member and Unlock Your Free Training Today! inf.link/g5x
I’m in all five income sources plus pension income. I retired at 59 and don’t regret a second. My favourite income source is dividends, especially dividends that grow every year. The regret I have is that I didn’t start this strategy when I was very young. Had I started earlier I could have retired at 40.
What companies did you invest in?
when did you start?
@nospamman4443 for me I started taking it seriously last year
@@mrbeastt4682 Good on you dude! I'm about to get into my first short term rental property to help fun my acreage development. I want out of the matrix as early as or before OPs age 😄
I invest in EFC for the monthly dividends.
W2 employee here, with 1099 side income.
I also have dividends and interest payments as well. Plus, a few growth stocks that don’t pay dividends, but I can sell eventually and buy more dividend stocks or add to current positions.
You do know that dividends is not extra money
I am an HVAC/Refrigeration contractor. I work pretty much every day,, no weekends or OFFs. Its obvious that I am doing something wrong; I work 12-14 hours everyday, I have customers signing in a waiting line simply because I cannot help everyone... But, I am still pretty much don't have savings for retirement and this contractor's job is the only income I've got. Thank you for your videos. I will turn my head towards passive incomes now. I've got massive experience with rental properties.maintenance and repairs for other people. I guess, it's the time for me to get my own rentals.
Great question, in order to assist you further, I highly recommend you attend our Free Tax & Asset Protection Workshop where our attorneys and specialists will answer all your questions live at the virtual event. aba.link/taptoby
If you have people waiting in line, Raise Your Prices.
Raise your prices; find tax advantaged places to stick your money, maybe change the tax status of your business. Still working on it but my goal is to use tax planning to determine ahead of time how much money am I even trying to make? Where will it go once I make it? If I'm just going to get taxed to death on the income, should I even take this job?
See if you can buy yourself more time to think, Idk how else to get out of the over worked contractor rut but I'm trying haha good luck!
Well, I don’t have a goal to robbing people. I am trying to treat my customers the way I would like to be treated myself. However, I know for sure that I will raise prices 20%-25% most customers wouldn’t even notice.
I guess, I am going to think about prices.
Yes, I am thinking about prices. However, 99% of my customers are small businesses like myself; gas stations, grocery stores, restaurants… I cannot rob these people just because I want more money. There should be another way. Trying to hire a helper.. it’s a headache task. :)
I’m 35 and I just tapped into 4 of these incomes over past 3 years. Feels like I’m the right track. Just need to keep saving and scaling.
Keep up the great work and keep saving and scaling!
My favorite is: finding a small cap stock, that has no institutional investors. But has a formed base. And fluctuates 5-10% a day. And before it breaks out, I start buying it at a low. And wait 2-3 days. And when it goes up to it's normal high, I sell it.
Me too
I like to have SCHD. 20% of each ROTH IRA Portfolio. Yield: 3.75%60% SPY20% Various Income Funds, PFF, ILTB, TLT.......What are more interesting buys to grow and safeguard $300k for 6 years? Real estate or maybe Gold
in my opinion, I think you're better off discussing with a proper advisor to help create a basket of securities in order to achieve growth with your capital if you're thinking long term
VNQ, VYM, JEPI, JEPQ, BND, High Int. Savings, Crypto Staking
This has been the most helpful summary on passive income. It was concise and to the point. Thank you!!
Rents, royalties, interest,dividends,short term tax gain
thank you. Rent is my favorite income.
Thanks Toby, for a great video. My favorite income is dividends and rents
im finally getting rich now thanks for this huge advice
Rent is my favorite thank you for the information you are a wonderful person and very much God's send 🙏 I am learning a lot of info coming from you 😊 u are a good professor.
I'm glad you find the information helpful =)
I have future plans for rental income but right now I have W-2, dividend and residual income from a past business.
That's great that you have multiple streams of income. Best of luck with your future investments.
Im a beginner and Im just buying shares in my favorite companies as often as possible. Thanks for the great info.
Monthly Cash Flow In Order of Priority/Income:
1) Rents from automated/unmanned self-storage facility
2) Residential rent
3) Small business that cash flows well off of just a few hours a week
4) Commercial RE fund
5) Interest: TBills, iBonds, Savings currently averaging 5%
6) Physical metals
7) Stock w/annual dividend payout
I realized how crazy the real estate market has become recently. I work in longboat key so there are some really nice houses there, I was curious as to how much they were worth. I looked up one house that was sold for $850k in 98 and now it’s on the market for $10mil that’s insane but, I feel like there’s no entry for that kind of stuff anymore. if you’re in it you’re in it and it’s a much tougher market to get into than back then
I did very well in what we call "swing trading" for 2023 but i was not educated on taxes, and i got bad surprises for my taxes 2023 that i am currently filling. I am looking for to incorporate this week. I am a 1099 with my other business, never thought that you coud incorporate trading. Thank you for the "Ah Ah" i am looking for to learn more and more from you :)
I know you cater to a certain financial group, but I am in a different financial group and would like to utilize your strategies and information. My question is, how can I begin to create wealth being low income and 67 years old? I have accounting background but was a single mom. Now I am trying to build something for myself and something to leave my children and grandchildren. Any advice, videos on this, or direction? Thank you so much for all I am learning from you!
I recommend joining our free Infinity Investing Workshop, where we cover various strategies tailored to different financial backgrounds. It's an excellent opportunity to explore avenues for wealth creation and receive personalized advice from our experts. Visit: inf.link/g5x
Divorce will kill everything. So never make women the top priority in life.
So true....I am an Engineer, worked hard since I left University in 2007 & lost everything I worked hard for in divorce including access to my daughter. Never again!
Great video, Rents, W2, Interest, Dividends (Reinvest, reinvest, reinvest!!!) Have to look into Royalty income...interesting.
Besides revenue from work, dividends from stocks. I must learn more about covered calls, because heard a lot of good comments on this. Rents are good, but not for everyone, so I invest in REITS instead.
I like RIETS also though only invest in private REITs. Plus like investing in land development projects.
How do you invest in royalties? Do you put some REITs in rental? Buying and managing a rental is not always possible
Great question. To explore this further and discover alternative investment options like REITs, I invite you to attend our free Infinity Investing Workshop. It's an excellent opportunity to delve into various investment avenues and learn how to diversify your portfolio effectively. inf.link/g5x
Are dividends from VALE, the Brazilian mining company, qualified?
So glad I stumbled on this channel
Welcome to the community
I love how you take your time to educate your viewers we all strive towards financial stability and a better Life. It is easy to achieve this through the right investment, by living frugally and budgeting. I'm glad I learnt early in life to work hard for financial freedom
Thank you. I appreciate that more than you may realize.
Please do a more comprehensive guide on selling covered calls for a novice.
Dividends, particularly from undervalued REIT's.
1st time seeing one of your videos and I am hooked! I love the simplicity. I have been an investor in all of these types and sometimes get sucked into shiny objects, *this video has inspired me to adjust my overall portfolio!*
you don't like growth or total stock market index funds?
Any courses that you know of that teaches this orrr well and or do we have to know this to be able to ask for it at Anderson Law? I want it all but I don't always know what to ask for so I hope its recommended as it's helped being put in place. Looking forward to the nonprofit workshop today.
I highly recommend you attend our FREE Infinity Investing Workshop. We teach various passive income strategies for long-term growth. Visit: inf.link/g5x
Love dividends pay out
I invested 100k in QYLD, a covered call ETF yielding 12% and it gives me $1,000/mo income. i also have 3 rental properties giving ne $4k/mo cash flow.
great work!
How about double tax free municipal bonds?
My bet is the rich are investing more in private investments then public investments. I kinda like 60% private & 40% public investments.
The problem with covered calls is that they don’t work in a bull market, particularly when the market really pops as it recently did. You would have been much better off not selling the calls.
You are correct. In fact, long term, selling covered calls is a losing strategy over buy and hold. The lost opportunity when the market runs up (and it always does) is greater than the income selling calls.
Selling covered calls works even in a bull market. You simply roll your position forward to a future date and get paid again to do so… often for a higher premium than you received initially.
Dividend stocks, interest and real estate are great cash flow assets. Real estate does require more capital which may not be suitable for some investors. I am looking at JEPI for monthly income and would like to hear your thoughts on that fund.
I wish nothing but great success on your investing journey!
There is fractional real estate. For as low as $50 you can buy shares in LLCs that own fully managed rental properties and pay rent as dividends.
Toby, I recently was sworn into the Massachusetts bar. I loved learning about tax in law school, but sadly never took estates. Now, I'm starting out as a solo estate and tax planning attorney, and I find your videos so informative! Thank you so much for producing such cogent and concise videos! I'll certainly share with colleagues
Congrats on joining the profession. Best of luck as you build your practice. My experience is that the more you give the more you receive:-) Be a giver and you will do awesome.
Have W2, Rent, interest. Question about dividends. In looking at dividend mutual funds they perform much lower than my current portfolio. Trying to understand why to diversify into dividend funds.
Some of the dividend etf's have really good performance on total return over 10 yrs. SCHD is one of the best at it.
Can you do a podcast about the tax advantages of financing the sale of a home you own?
We'll definitely consider it for our upcoming podcast topics.
Hi Tobi. Is it a book you recommend to learn how to sell cover calls?
Eight streams into the Ocean 🌊 🔑😎
Your video is really interesting and very helpful. I really liked the content. Please make video on Dividend Aristocrat stocks.
This is Mukund Pawar from Mumbai,India.
Thank you! Toby Mathis for such a wonderful video.
Noted
I’m considered an investor. I pay 0% tax
I investing in gold and silver trust and mining reits global and treasures bonds and banks and S&p 500 indexes and other ETF dividends on top of traditional and Roth IRA full and fractions stock plus physical holding silver and gold and numismatics coins
I also just invest in my 1st Royalty income streams
Did they get rich using multiple streams or did they get rich and then diversify?
My experience is they build multiple streams of income as they go. Studies that shown 90%+ of millionaires are made and that the top 3 professions who are millionaires are engineers, accountants and teachers. So the answer is pretty clear. They get rich investing in multiple streams of income.
Can you talk about YieldMax and Tardus?
You are a genius! You provide helpful advice and present your points clearly. Thank you! My favorite passive income is dividends because it's virtually effortless.
Thank you so much for your kind words! I'm glad you find the advice helpful.
Rentals #1, it's what we know, so it is best for us. Money in the market is managed and has done well but any dividends are reinvested. We also have W2. We can comfortably live on the rental income at this point.
How much did you put down to start with? Or did you buy them in cash
@@myllamaMan 1st one was one we had lived in, and was financed. All the others were cash. Once you have 5 free and clear, it generates enough to purchase another like property every 2 years. The issue then, is finding good rentals to purchase.
Night dipper I totally agree with you and I have done the same thing with my rental properties.
The first one was the hardest but once it was paid I built another and then when it was paid I built another.
Real estate is what I know and understand and where my talent is.
@8:11 - Sorry but dividends are taxable as ordinary income unless they're qualified dividends.
Correct. Dividends from US corps are qualified and are taxed as long term capital gains. That is what I am specifying.
The heck with the like button! Where's the ❤ button? Interest and dividend income seem to be the most attractive. However I think STCG could be a way to build the other passive income streams. Great content!
Dividends
i understand all this and will get myself all these types of income. the ONLY thing i don't get is royalties... gimmie some examples. how do you depreciate it all in 1 year? doens't make sense
Thanks for sharing the secrets of the rich from your experience.
Rents dividends interest ❤
Toby, my favorite income out of the five is dividends because it can two in one in regards to being a capital gains opportunity as well of the stock goes up.
Dividends are like the cherry on top of the stock market sundae!
dividends seem most practical to me.
Toby, do you recommend holding dividend stocks in an IRA, taxable brokerage account, both, neither...does it matter?
It does matter - but not a ton because dividends are taxed at the favorable long term gain rates (0, 15, 20%). If you are MFJ and below $90k in AGI, I would own individually as the dividend rate is likely 0%:-) If you are higher income, I like deferred revenue accounts to avoid any taxes for a long period of time. Sorry to give you the "it depends" answer, but it really does depend.
@@TobyMathis thanks! Great content as always
real estate isn't passive but from what I've heard it seems to be worth it
Do you have a audio book of your own ? Man all your tips are great 👍
I do have a physical book that might be helpful! "Infinity Investing: How The Rich Get Richer And How You Can Do The Same" aba.link/IIWbook
@TobyMathis thank you I'm definitely order me a copy
We have rentals, however, I love stocks especially when my stock is Nvidia which has increased 10000% 🎉🎉🎉😄😄😄🥂🥂🥂
I have w2, about to start rents, and some dividends. I was also the responsible one in my peers and would loan buddies so interest here and there
Keep up the good work!
Toby, talk to us about hotels. Looking at taking one of our apartments and converting two floors to short term rentals…
I'll keep that in mind for future videos
Thanks! Great video. I have a few questions. First, I am 47 I work the government and I have a pension as well as deferred comp account (Roth) I was also in the military and get money from my service each month. I have been investing for 15 years so I have a decent amount. My question is since I have all of this built, would you suggest I just continue with the deferred comp and pension or add a reit etc? Since I have a decent amount close to 100,000 in my deferred comp would you suggest I just stick with what I'm doing since it's already built and build on the 100 or start over with something like a reit? I put 600 a month into my deferred comp already. Plus another 500 a month in my pension is invested for me. I have 10,000 in crypto as well. Any help would be appreciated! So add to deferred comp or add other stuff?? Thanks!!
Thank you for your question and I appreciate you supporting my video!
To get a comprehensive answer tailored to your specific situation, I recommend attending our Infinity Investing Workshop. Sign up here: inf.link/g5x
Dividends.....cony🎉🎉🎉🎉
More income, more taxes. Not against it, but l prefer making an extra 50k a year in the market doing nothing. Did the rental property thing and that’s a headache.
Selling cash secured puts can work too....
Options trading is fun and easy
Toby,
I became a big fan of your content.
I have a question if you pass on your real estate the heir will inherit at step up basis, What about the Stocks in my regular trading account. would the same treatment applies their?
Thanks
DP
You are correct - capital assets such as real estate and stocks receive a step up in basis upon your passing.
Thank you for your kind reply@@TobyMathis
What side are you on as AQ384J divides the wealthy from the poor?
He said throw a few thousand dollars in prosper. What is prosper? I could throw some money in there now what’s the return on investment? How do I look it up? I just type in prosper online. It’s not gonna give me what he’s talking about I’m assuming.
"investing with prosper" perhaps
Great info (albeit very quiet).
You are blowing my mind dude. I've been buying dividend aristocrats lately. I think the next step is setting up structures for the next moves. Interesting stuff. My side hustle has outgrown my day job. Legal cannabis industry. I'll probably reach out in coming weeks. thanks.
I'm thrilled to hear that you've been finding value in my videos. It sounds like you're making some smart investment moves with dividend aristocrats.
Excellent video Brother
Many many thanks!
I don't care for 3-6% income investing. That's just 3-6 cents on a dollar. Splg etf coast 0.02% and can get me far more for my money.
Lets discuss the AQ384J guys. This is failproof and barely any asset can be labelled failproof at all.
Thanks for the concise video!
Very interesting, and he is easy to understand. Thank you.
Glad it was helpful!
Love rent and dividends the covered call I need to figure out
Good stuff, Toby - I'm looking to build dividend income and sell CC's myself
The main problem for me was this information wasn’t around when i was 30-40yo or easily available
I totally understand what you mean. But hey, better late than never, right?
@@TobyMathis I suppose but @56 lending is now a problem as far as buying property goes
Toby, you started off by saying there are 8 types of income. What are those types of income?
Wages, profits, rents, royalties, dividends, interest, short term capital gains, long term capital gains.
I like you Toby but you are just copying from others. Rinse and repeat .Royalties??? How can the average person invest in royalties?
Oil and gas is actually important to many of my clients. The deduction from intangible drilling costs is a life saver to my folks who have deferred comp plans or who have windfalls. I have to throw it in there because it becomes critical to those who cannot offset their W2 income and need income that avoids employment taxes.
Divdens and selling options just love them.
Love it and Sales for me specifically insurance restoration
Absolutely great input Keep going God bless
Much appreciated
Rent is my favourite income. Your expertise is very best and of high value to me.
The constitution says taxation will be based on profit not income!
Not true. The 16th Amendment was ratified on February 3, 1913, and it states “The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census enumeration.”
RIP Charlie Munger
Me n Charlie Munger used to smoke dope together
He will be deeply missed
Was he a conservative folk or a liberal...?
Crypto staking anyone
😢
DIVO
Coach Toby great video..my favorite income is mortgage notes
Love it. Where do you find your notes?
Do you still do taxes?
I would love to use you for my taxes
Or could you recommend someone
We'd be delighted to assist you with your taxes. To discuss your specific tax situation and explore the best strategies for your needs, we recommend scheduling a free strategy session. Click here to get started aba.link/8dv
Amazing..
Personally, I think investors will start to seek more market diversification. can i confidently invest about $350k into the financial markets in 2024? I'm still not sure how rates will effect the market just yet, which worries me a lot.
ROYALTIES on my licensed invention
Great
Great video! I DCA in AQ384J already, Patiently waiting for the Moon time!
Do you do Canadian taxes?
I do not, but I have a colleague, Harv Mand, in Vancouver who is really good.
@@TobyMathis appreciate the reply! Thank you 🙏🏻
Great video 😊
Thanks for watching