6 Ways to Make Money Outside of the Stock Market
In this video, Entrepreneur Network partner lays out six ways you can build wealth outside of investing in the stock market.
- Investing in real estate. To do so, you could start by reaching out to realtors and taking them out to lunch. Or you can even go online and seek out education this way.
- Investing in a franchise. By becoming a franchisee, the percentage of your money you can make back can range from 10 percent to 15 percent.
- Buying life insurance. Going down this route can unearth a slew of unexpected fees, especially if you go with a big name; instead, choose smaller, independent companies.
- Starting an online business, with a monthly reoccurring fee from a membership program, your own series of courses or an ecommerce store. In terms of Rose's experience, he began his finance blog, Good Financial Cents, by first making money off advertising. From there, he began harnessing affiliate links with partners in life insurance and investing tools. The ability to grow this business from your couch is a unique part of growing an online business.
- Building and selling a business. For instance, if you market and grow a website, it may flourish to a point where other business owners may express interest in buying it
- Finally, Rose recommends paying off debt. No better way to build wealth than to clear your financial slate.
Click the video to hear more investing tips from Rose.
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