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Archive for the ‘Daily Philosophy’ Category

Ways to Make Money Online

June 28th, 2010 Joe No comments
Make Money Online

Photo By Nick Ares

Make money online is in infamous statement that often gets people to turn and run, but there are legitimate ways to make money online if you can manage to avoid the scams.  This is a short, no bull, free, guide on How to Make Money Online.  There is a ton of sites around the internet that will tell you they hold the “secret” to getting rich online.  Most of them are full of shit.  I do once in a while buy a book or tutorial that will give me the secret to making money online, just to see what brand of snake oil they are pushing now.  Once in a while there are little nuggets that I mine from the mostly overrated material.  I thought I would pass on the common themes to you so that you can just save your money.  I also thought I might give you some real resources, that are mostly free, if you are actually interested in making money online.  So lets start with Read more…

Make Money Like The Bachelor

March 2nd, 2010 Joe No comments

I admit this season of The Bachelor somehow reeled me in like a fish.  I ended up watching part of the first episode and it was all over.  I got hooked.  So last night was the finale.  As most of you who care probably know Jake chose to marry Vienna.  The part that captured my attention was when Neil Lane the jeweler came to offer jake some advice on choosing a ring.  Later on in the episode Jake gets down on one knee and opens the ring box and there on my screen is the word NEIL LANE in gold on red satin.  I thought wow that is some advertising space.  It got me wondering how much Mr. Lane paid for that opportunity to be the jewelry provider for The Bachelor.  My main point here is like many network television shows they make money selling ad space mostly during commercials.  However if a great strategic partnership can benefit both parties why would a show like the Bachelor get creative and offer something special in certain situations.  You should be thinking this way when considering your business and life.  Do not just sit back and collect your commercial money, look for creative partnership opportunities.  Even if Jake just got the ring for free that is still a great deal for both parties.  I am wondering what strategic partnerships you are doing, have done, or are thinking about.  How have they worked out?  Share with the community so we can all benefit from your experiences.  Leave your comments below.

Average Hourly Wage

February 21st, 2010 Joe No comments

What is your average hourly wage? Lately I have run into a few people who have told me how they get paid this hourly wage or that hourly wage. I even heard someone say that mechanics make twice as much per hour as college professors. When I heard this I thought, Is that true? I did a little research using and found that those claims in most circumstances today are not true. First of all most people work for a wage or a salary. Many times people on salary will get “persuaded” to work more hours than they should. This is beneficial to the company because the more hours a salaried employee puts in the less the employer is paying per hour. However many college professors have the opportunity to work from home, and complete parts of their job on their own time. This allows them to control the productivity level and work at their best time for high productivity. This raises their hourly wage. So what am I saying? If you are currently considering a career change, Read more…

New Media, Twitter, Facebook and Beyond

January 20th, 2010 Joe 1 comment

These days  any company that is not using twitter, myspace, facebook and other new media outlets are loosing thousands of opportunities.  The most important of them is the opportunity to build strong relationships with your fan base.  I am not talking about just sales.  Creating a following is what you should be focusing on.  People are what I call “advertisement savvy”.  Its not like it was years ago when you put an ad on prime time and got a huge ROI.  People today are going to fast forward right past your million dollar ad.  Now you have to take time to build relationships with potential customers.   This is good and bad.  Yeah its not as easy to generate quick money with advertising.  However, if you create a following for your company or brand you have a much more loyal client base that actually spends a higher percentage of their disposable income on your product.  Creating a following can take some time, especially for a startup.  If you have been in business for 5 years or more and you are not online getting social you are seriously missing the boat.

How to create a following the fast and dirty version

1. Setup a website, with a blog.  Blogging is a great way to build an online asset of information that will be indexed by search engines and drive traffic to you 24/7.  It also is like a buffet for your potential clients.  They can come and go as they please and consume as much as they like.  Also make sure your website is interesting get 2.0 people!  In this tech savvy world you are not going to hold my attention unless you strategize and create interesting content.

2.  GET ON TWITTER!  I know at first the name twitter or sending tweets might sounds kinda funny.  This twitter situation is hitting critical mass.  It was interesting a year ago when it was much smaller and you could connect with people around the world really easy.  Now it is a great place to connect with business leaders, politicians, and your next clients.  Get to tweeting!  Attach your twitter and your blog so that people who find your blog can find your twitter, and vise versa.

3.  Facebook is not for kids anymore.  Sign up, add all the people you currently know or do business with, and generate interesting content and you will see your fan base grow FAST!  Utilize the great social tools like tagging.  You can tag people in pictures and then those are posted on their wall.  So when you are out in the physical world take pictures and tag you and your clients on facebook.  This gets you exposure to all their friends.  People creep new pictures and will easily find your business.  If their friend knows you and trusts you, they will.

More to come on this topic down the road.  For now follow the down and dirty version of new media marketing.  Oh and find me on twitter @ajoemillionaire

To Own or Not To Own?

January 10th, 2010 Joe No comments

It is a big question in todays market.  Many people are continuing to rent because they fear if they buy a home it might drop in value and they will have lost thousands of dollars.  I am here to tell you that your concerns are valid and real.  Many people who bought in the last 10 years are sitting in a home that is worth half the amount they paid for it.  This is a nightmare.  So the question is To own or not to own?  First I believe that the market is starting to stabilize and within the next year is a great time to buy.  Especially if you can get in on the tax credits given out by the federal government.  I believe that the home you live in should not be looked at as an investment and here is why.

1. You need a place to live.  This cannot be argued.  Everyone needs a place to live.  Just make your home your home.  Who cares if your house is worth 10X what you paid for it.  That means all the other realestate in your market is too.  If you were going to “cash out”  you would have to move to a new, less expensive, market to really reap the rewards.

2. If you rent for “a few more years”  you always feel misplaced and like you are on the edge of leaving or moving or doing something else with your life.  It gives you a sense of uncertainty.  This can cause fractures in other areas of your life.

3. In a rental you are always throwing away the rent.  Right now your money has not gone further in years.  You can buy great houses for such great prices.   Every city in the country has amazing deals.

4. Interest rates have never been lower and they can not get much lower.  That means there is only one other place they can go.  Locking in a fixed rate right now is the best time in history!  This alone will save you thousands over the life of your mortgage.

5. Right now in many cities you can actually buy for less than you can rent because people bought rental properties with a mortgage 3,4,5,8 years ago and they have high payments.  Now those houses are worth half and they still have high payments.  Investors are rarely willing to rent a place for less than the payment.  So that means your payment to buy is going to be 30%-50% less than renting.  What if you took that extra $400-$1000 and put it in your IRA or other savings account?  Do you think after 30 years that would be a nice little chunk of change?  It would!  In fact if you saved $550 a month for 30 years with an average rate of 5% you would have about $40,000 dollars!  Thats a little incentive to buy.

6. Finally, owning a home is the American dream for a reason.  Having a place to belong and make yours is an amazing feeling.  If you are in the market for a home do not wait.  Your home is not an investment its your home.  If you are going to invest in real estate do it in some other way.

Get Motivated to Start Your New Business

December 12th, 2009 Joe No comments


You may have already heard. is one of the easiest ways to start an online store.  It is as easy as filling out a form and adding your products to your store.  This program comes equipped with a great app store.  Apps allow third party app development.  This is great for you because you can easily and quickly add new great features that fit your business needs.

How do you know Shopify is for you?

I judge many services on the successful clients that are using a service.  Shopify boasts a huge client list.  You may have heard of Pixar, Pamela Anderson, Tesla Motors, or Amnesty International, these and many other businesses have had great success with the Shopify program.

Whats in in for you?
Shopify is running a competition to help you achieve your New Business Goal.
“Other than the fact that you get to start your very own business, you get to compete for$120,000 in prize money. The store with the two best selling months will win $100,000. Achieve the same for your store category and win $5,000 as a runner up prize.”
prizes-whiteThis Contest is only open to NEW BUSINESSES.  You dont have to worry about competing with anyone else besides new business people.  Do not wait.  Sign up for your account right now.  Take the challenge and start your new business this year.

What do you think?  Is this enough of a motivation to get you started on a different path this year? Leave a comment and tell me if you are motivated by this.

Spending Pre Tax Dollars

November 29th, 2009 Joe No comments

Rules of the Rich

The Poor pay taxes then pay their bills with what is left over.  The Rich pay their bills and then pay taxes on what is left over.

Knowing the significance of this is HUGE!  If your income at your Job is $50,000 you will pay around $10,000 in federal taxes.   Yes there are deductions that lower that amount but for simplicities sake we will stick with these numbers.  That means you take home $40,000 before  state taxes and bills.

What can a business save you?

The Rich own businesses that makes $50,000 a year and they pay all their bills
Cell Phone $1200 a year
Auto $3600 a year
Insurance $3000 a year
Food $5000 a year
Office Supplies $500 a year
Computer $1000 a year
Internet $600 a year
TOTAL $14,900

Many other things can be expensed but we will stick with these items for now.  Many of these have limits set by the IRS.  These numbers are for example purpose only.

So we have a business that makes $50,000 – $14,900 in expenses = $35,100 profit (this may bump you to a lower tax bracket but I will use 20%)

Total taxes owed by the business before any allowable deductions is $7,020.  That is a tax savings of about $3,000!

That is a 6% raise!

$3000 is just the beginning there are many other expenses from your daily life that if you were in business could possibly transition into business expenses.  Plus there are all kinds of tax credits and deductions that change almost every year.  Currently you can get special credits for adding “green” options to your business.  You can get credit for buying a Hybrid vehicle for business use.  There are all kinds of great tax benefits of owning your own business.

Categories: Daily Philosophy, Rules of the Rich Tags:

Tax Shelter

November 28th, 2009 Joe No comments

Step Seven

Tax Shelters are usually associated with negative and or illegal operations.  This is not the case if you are going to start your own business in your free time like I suggest in step six.  Fact is that you are probably already spending money doing your hobby now.  For some that may be baking, photography, gardening, painting, building, or racing cars.  The fact is that you can start your business doing this thing you love and convert your personal expenditures into allowable deductions you will be well on your way to Average Joe Millionaire Status.

Step one: Turn yourself into a business owner.  This is easy and cheap to do.  You can even go to websites that walk you through the entire process.  For some you may want to consult an business attorney to do this for you.

I have heard people having luck using for their business needs.

To be in business is easy.  Simply declaring it with the proper entity is all you need to do.  Once you are in business you can magically turn personal expenses into tax deductions.

The best part is that your business does not necessarily have to make a profit.  In this scenario we are working towards a profit but if for the first couple years you don’t make one that is no big deal.

Quoting straight from the IRS

“Generally, an activity qualifies as a business if it is carried on with the reasonable expectation of earning a profit.”

“The IRS presumes that an activity is carried on for profit if it makes a profit during at least three of the last five tax years, including the current year — at least two of the last seven years for activities that consist primarily of breeding, showing, training or racing horses.”

There are certain ways to structure your business to then take these losses and deduct them from your personal federal income taxes.  So say you owe Uncle Sam $7000 for the year in personal taxes and you structured your business as an S Corporation.  In that situation you may be able deduct any business losses on your personal taxes possibly allowing you to put that $7000 into your business instead of sending it to the IRS.

I dont know about you but putting my taxes into my business sounds pretty good to me.

Working towards a profit can be easy too.  So you like baking and you want to start a cake business.  You could sell just a few great wedding cakes to make a nice lump of money and offset many baking expenses.

If you are into racing of some kind you sell advertisements on your vehicle, body and trailer.  This can add up quickly and pretty soon you are making a small profit.

Making a profit is very specific to your situation.  I cannot tell you how to make a profit because I dont know your business plans.  Feel free to post a comment with business ideas and I will give feedback on profit structures.

This article is in no way meant to influence you do anything illegal.  Including avoiding taxes. Avoiding taxes can come with harsh penalties and would damage your chances of getting rich.

On the other hand I want you to get the most out of our capitalistic system and keep as much of your hard earned money as legally possible.  I want you to pay millions of dollars in taxes but not a dime more than you owe.

Get Rich Working For Someone Else

September 7th, 2009 Joe No comments

Once you make the decision you are going to become rich, usually you already have a job working for someone else.  I have found with my experiences that it is easier to keep that job and get rich doing something during your off time, like evenings and weekends.  I have known people who decide one day they hate their job and they are going to quit and get rich doing ________(fill in the blank).  This approach never works.  The reason why it never works is because when you have no money you are desperate and other people are repelled by desperation and dont want to work with desperate people.  The advise I give is to follow the Millionaire School guide and find something that makes you happy.  For some people that is baking, photography, gardening, painting, building, or any thing that makes you happy.  Anything can be organized for profit.  Then find a way to do this activity in your free time for profit.  Once you start making money you can start to consider quitting your job or cutting your hours back.  You will find that money comes faster this way.  Money comes faster because you are not desperate and people will like that you are working so hard to pursue your dreams.  People love those stories so tell it to as many people as possible.  Many people will support you just because they want to see you succeed.

The other reason money comes faster when you are doing this in your free time is that you have more money to put into your venture.  If you continue to work you will get a steady paycheck and be able to fund your venture better.  I know most paychecks are spread thin already but it is a fact that you will have more cash flow if you keep your job.

Get rich working for someone else, and you will have more control over your life in the long run.

Paying off high interest debt with savings, Still a good idea?

September 5th, 2009 Joe No comments

This morning I am reading a few different blogs and I found Five Cent Nickel.  A recent article posted brings up a good question.

If I have money in the bank and high interest (10%+) debt should I use my savings to pay it off?

The short answer, YES pay it off.

The question gets complicated from person to person.  In this economy people are keeping more cash in the bank incase they get fired, or generally need it.  This advice has bee pushed by Suze Orman and many other financial advisors.  I am in agreement with them.  Everyone should have some money in the bank.  Personally I would be willing to take a little more risk if I were carrying high interest credit card debt.   I would push everything to the credit card until I was down to exactly 4-5 months emergency fund.  For some the extra 2-5 thousand dollars paid on the credit card might pay it off.  There is no reason to carry debt if you can pay it off and still leave yourself a good emergency fund.

If you thing you are going to get laid off or feel your company is doing poorly in this economy keep saving your cash.

Check out the Five Cent Nickel original post here