The other side of tax season is Tax returns. And we alllllll know what we do with that check....
We buy all of the things we wanted to get but could not afford to buy all at once. We suddenly eat at the restaurant we've been dying to visit because all of the ballers on Instagram have been eating there. We even poke eyes at that Louie luggage we saw retweeted on twitter a few times. Well today I'm here to tell you, ITS GOTTA STOP. NOT THIS YEAR.
This year we're going to treat our tax return a little differently. We're going to have to feel a little pain, but the benefits are going to be plentiful, and you'll be looking back at this year like "2017 was the year I actually started gettin' my money right"....
How could one pass up the opportunity to put this in here
So as you sit down patiently waiting for your return to come and thinking about what you want to buy consider these options:
(Warning everything in here is about investing in yourself)
START A BUSINESS
Remember that idea you had? The one that you said would make a great business if you decided to put some money into it? This tax return might actually be the sign from the universe that you should get things started. Use your tax return to create a sample or a minimum viable product (link to definition) for the business idea you had. Imagine seeing your business take off and remembering that it all started because you decided to invest the tax return that you were about to use on Gucci Flip Flops.
RE-UP FROM THE CONNECT
For my folks who have already started a business. It's time to level up, your expansion opportunity lies in this tax return. There are so many opportunities with this money. It's time to do some research & development. It's time to contract some money to a digital marketer, or learn how to be one by investing in a class. It's time to start using Facebook and Instagram effectively by dabbling with Facebook ads (hyperlink fb ads). If you have a large twitter following, twitter ads is also a viable option to help promote your business. These ad platforms are exclusive to big businesses YOU CAN USE THEM TOO.
Another option is to level up your tool box. Purchase more tools for you to grow your business. This is how big corporations do, it's time for you to treat yourself like one so you can compete with them. The other win is that you can do all of these activities and then WRITE THESE SAME EXPENSES OFF NEXT YEAR FOR YOUR TAXES. In my book that's a win-win.
CREATE A SIDE HUSTLE.
There is not one wealthy individual on the planet, I repeat, on the planet, that doesn't have multiple streams of income. It all starts with using your talents and available time and creating a side hustle. There's no faster way, and no better opportunity to grow your abilities than by investing in your side hustle with your tax return money. It's basically a head start. You can look into your own talents, whether it's DJing, braiding hair, or doing design work on the side. Buy the tools you need to get started. If you don't necessarily have any special talents you can do a few things.
Drive Lyft:
Free at night or on the weekends? Why not earn some extra money instead of scrolling up and down Instagram all day? I have a neighbor who earns at the minimum $1500 a week driving Lyft and he initially invested less than $1000 dollars to start. If you would like more info on him I can definitely create a segment where I'll interview him or other drivers so you can hear their stories. Email me/reach out.
Skillshare is a website where you can take classes to learn many different skills. These classes are taught by regular folks like you & me and by experts as well. The price ranges vary, some are free, I have seen some reach $100. It's necessary to improve your skills in this climate because you never know how these skills can lead you to a new and promising career.
INVEST IN A BUSINESS:
I mean actually invest in a business that you physically know. Within your crew could be the next Steve Jobs, Diddy, or Warren Buffett. The earlier you invest in someone's business the more shares you can own, so the moment they hit the big time you're getting paid a big check as well. Also, nothing screams friendship or trust larger than "Hey I believe in your vision, let me invest in your idea." A school invested $15,000 in Snapchat and got a $48 million dollar payout when they went public. Your friend could be working on the next Snapchat, and you could be that next school. This also creates the structure for the next step.
CREATE PASSIVE INCOME:
I don't mean to be DJ Khaled but this right here is a major key. They always say that the best way to make money is in your sleep. One effective way to do this is to create passive income. You can do this is many ways and don't necessarily need to have a large amount of money to begin this process. If you check back in the email I attached an amazing link that shows you some dope opportunities for creating passive income and not breaking the bank.
Last but not least.... BUILD A STOCK PORTFOLIO.
If you're betting that the future in America will be better than today, then get paid for that by investing in the stock market. For many people investing in the market can make them nervous but it has been statistically proven that you make more money being in the stock market than keeping your money under your mattress. People who take risks get rewarded for taking them, and you miss 100% of the shots you don't take. If you're interested in getting started in the market check out my previous email: Stock Market 101 (insert link)
This year is the year to extend your empire, you and I both know you want to ball out later in life. If that is the case you have to put that work in the gym. Make your sacrifice this year and invest that tax return. You have the blueprint, so now it's time to win.
Keep stacking that paper y'all,
CJB