Home » Investing » Page 7

Investing

How to Get Rich in a Small Town?

Reading Time: 3 minutes People are seemingly more willing to move out of their small towns and into big cities. The reasons for that are many, but none more prevalent than the idea of big cities offering more employment options and better financial opportunities.  However, what if we told you several ways to get rich in a small town? It sounds too good to be true. After all, who wouldn’t like to be the king of their small town?   Living in a small town presents an opportunity to make a lot of money. But don’t think of it as an effortless way to get rich quickly. This isn’t a shady scheme, far from it. You can get rich in a small town with a lot of hard work. If that interests you, then you’re at the right place. So, with all that said, let’s begin. 5 Ways How to Get Rich in a Small Town As mentioned previously, you will need a lot of hard work to make the following ways work for you. In some cases, this might not even work for you, but it might work for someone else.  Regardless, what’s important is that there are indeed ways to get rich in a small town. All you need to do is read what we have for you and try to make it work. Let’s begin. Find a Niche Market Every small town has some industry in it. The problem isn’t the lack of employment options; it’s the larger businesses holding a monopoly over goods or services.  So this will be the biggest challenge to overcome. Granted, putting a big business out of… business does seem like a monumental task. But with enough hard work and clever thinking, it can be achievable. You don’t have to go against the big businesses in your small town; you could focus entirely on something else. This is where you’ll need to do research and due diligence.  Namely, you need to find a niche market and make yourself stand out from the rest of the competition.  For example, if there is a need for organic vegetables and fruits in your town, be the one to provide them! Granted, starting a small farm or farmers’ market does take time and money, but it can be achievable. This was just one of the numerous examples of how to get rich in a small town. Invest in Real Estate  Real estate is always an option to make money in a small town, perhaps even get rich. When it comes to real estate opportunities, several investment possibilities exist to help you build wealth.  A common one is to look for properties with lots of appreciative potentials. Another option is to invest in rental property. The latter is an excellent way to build passive income, which can make you a lot of money, potentially even making you rich. Start A Home-Based Business The internet has taken over our world by storm, and it’s easier than ever to start a home-based business on the World Wide Web. For this method, you need to consider what you’re good at. This includes skills or perhaps even products you have to offer.  The idea is to start a home-based business and sell them online or locally. There are plenty of eCommerce platforms and tools to help you launch your very own home-based business.  Always Be on the Lookout for Opportunities  Opportunities come and go. But you can maximize how many opportunities you uncover by creating them. Don’t just wait for these opportunities to come to you. Instead, be proactive and always be on the lookout for the next big thing. Who knows, maybe you’ll find a unique, once-in-a-lifetime opportunity to get rich in your small town.  Look Beyond Your Small Town Sometimes, the nature of small towns makes it impossible to get rich. If that’s the case with your small town, don’t be afraid to look beyond your small-town borders.  Nearby cities await you and your skills. They’re eager to find out what you have to offer their markets, and maybe that’s precisely what you need to get rich in a small town.  Conclusion That concludes this short guide on how to get rich in a small town. It’s important to remember that getting rich in a small town isn’t easy. Small towns are quite limited compared to big cities. But with enough time and hard work, anything is possible.  We leave you with this; stay determined and think several moves ahead. It is possible to build a successful and lucrative career in a small town and perhaps even get rich.

How to Make Money With a Truck?

Reading Time: 3 minutes Trucks are excellent tools that can transfer stuff from one place to another. And here lies a unique opportunity to make money with a truck. Bear in mind; you could make money with a truck as a full-time or part-time job. Simply put, you can make money with a truck in whichever way works for you. So if you own a truck, here are several ways to put it to good use. On a side note, the success of the methods depends on your skills and interests. So, without wasting your time, here are some ideas to get you started. 5 Ways to Make Money With A Truck The five ways we came up with here are the following: Let’s get into each one. Making Deliveries A truck is a big vehicle that can transport a lot of stuff. Therefore, you can use your truck to make deliveries and get paid.  Deliveries can be anything from groceries or building materials to furniture. Businesses and individuals will pay you to move stuff for them since you have a truck and they don’t. The bigger the truck, the more deliveries you can make in a single go.  If you’re finding it difficult to start, offer your services to friends and family first. Then, expand to local businesses and even online platforms.  Landscaping and Yard Work Another excellent way to make money with a truck is by hauling yard debris and materials for landscaping gigs. Your potential clientele are homeowners and landscapers who need a larger vehicle to transport the necessary materials or tools to perform landscaping jobs and yard work.  Ideally, you want to find customers who require your services all year round. Which conveniently ties nicely to the next item on our list. Renting Out Your Truck Yet another way to make money with a truck is to rent out your truck. This method works best for truck owners with enough time to make deliveries or transport materials for homeowners and businesses. If you are in this unique situation, consider renting your truck. As with the previous mentions, plenty of people will require your services since they themselves don’t have a truck. The great thing about this particular way to make money is that they won’t need it for long, meaning you can earn extra cash quickly.  Before you give your truck to almost anyone, go through a vetting process to ensure customers are who they say they are. The last thing you want is for something to happen to your money-making vehicle.  Mobile services 21st century is the name, and mobile is the game. Truck owners can enter the mobile services market and perform a wide range of tasks for extra cash. For example, you could start a mobile truck service where you pick up materials for mobile kitchens and deliver them. This is just one example. It’s also important to mention that this method is similar to the delivery service method, where you essentially get paid for a service that involves transporting stuff in your truck from one place to another.  Scrap Metal Recycling Lastly, truck owners with enough free time should consider starting a scrap metal recycling business. This business proposal will get your hands dirty. So if you don’t mind getting dirty, it can be an excellent source of extra cash. It can be so profitable that you could turn it into a full-time job.  But what is a scrap metal recycling business? A scrap metal recycling business involves getting rid of scrap metal and similar materials from people who no longer need them.  As luck would have it, many people are in need of such a service. Your target demographic is any person who has old appliances, car parts, or other metal items they want to get rid of. Considering everyone has stuff they want to get rid of, you’re in for quite a payday if you manage to get it working. Once you pick up the scrap metal, you can do two things. The first is to take them to a scrap metal recycling center or launch one yourself.  Conclusion As you can see, truck owners have many ways to make money with their trucks. For example, you could do deliveries, transport landscaping or yard work tools and materials, start a mobile service, or turn to scrap metal collecting.  Regardless, the possibilities are there to turn your truck into a money-making machine. But before you do that, familiarize yourself with all the local regulations and laws to ensure you have the license to operate. 

Is $50k A Year A Good Salary?

Reading Time: 7 minutes The question of whether $50k a year is a good salary is one that many individuals grapple with. Unfortunately, the answer to this query is not a simple yes or no; it depends on numerous factors that shape your financial circumstances. While geographical location is a significant factor, there are several other key considerations to ponder when evaluating the suitability of a $50,000 annual income in 2023.  In this comprehensive guide, we will delve into these critical factors, helping you make an informed judgment about the adequacy of a $50k salary in 2023. 2 Factors To Determine If $50k A Year Is A Good Salary While we mentioned geographical location as a significant factor in determining the validity of a $50k-a-year salary, there’s another factor worth considering. Truthfully speaking, these two factors heavily contribute to whether or not $50k a year is a good salary. Let’s explore them: Geographical Location Is A Key Determinant Before we delve into the intricate details, it’s crucial to acknowledge the profound impact of geographical location on your salary’s value. Namely, where you live is the deciding factor in determining if $50k a year is a good salary. Let’s take the United States as an example.  According to Nationwide Visas’ survey, the average salary in the United States is $74,738. Based on that, making $50k a year puts you well below the national average. But what if you live in a poorer country like India or Mexico?  Mexico’s average yearly salary comes at 399,000 MXN, which converts to $23,543. That’s less than double what the query asks. So making $50k annually in Mexico puts you well above the national average. The case is the same with a country like India. India’s national average salary (yearly) comes at ₹387,500 per year, or $4669. As we can see, geographical location is a key determinant in answering the query. But it’s not the only one.  The Cost Of Living Is Another Core Consideration We mentioned that where you live ultimately decides whether or not $50k is a good yearly salary. What this comes down to is the cost of living in your area. In some cities, $50k may be a very comfortable salary. In others, it may be barely enough to get by.  Let’s take the following example. Suppose you live in a city with a high cost of living, such as San Francisco or New York City. In that case, $50,000 a year will barely cover your living costs, food, and utility bills.  On the other hand, if you live in a city with a much lower cost of living, such as Cedar Falls or Burlington, $50k may be more than enough to live comfortably. It’s also worth mentioning that expensive cities come with costly services. For example, a diner in downtown Manhattan costs way more than a diner in Pawtucket, Rhode Island. That’s because the high cost of living also comes with high costs for businesses and establishments. So restaurants and similar establishments have to charge more to cover the rent, electricity bills, and other costs in addition to paying workers’ salaries.   Below are two tables outlining the five highest and lowest cost-of-living cities in the United States: City Average Annual Salary Average Home Price San Diego, California $67,520 $919,200 Los Angeles, California $63,400 $835,210 Honolulu, Hawaii $61,840 $580,120 Miami, Florida $54,501 $609,500 Santa Barbara, California $62,850 $499,270 Most expensive cities to live in, according to U.S. News City Average Annual Salary Average Home Price Hickory, North Carolina $44,200 $220,100 Youngstown, Ohio $45,500 $137,230 Huntington, West Virginia $45,230 $165,780 Huntsville, Alabama $61,400 $350,600 Fort Wayne, Indiana $50,300 $216,450 Least expensive cities to live in, according to U.S. News What To Do If $50k a Year Isn’t Enough? According to Statista, 16.2% of U.S. households live with a salary of $50,000 and $74,999, while 10.9% make between $35,000 and $49,999. So if you find yourself in that $50k middle ground and less, what can you do to make your salary work?  Personal Financial Goals Are Key to Making Your Salary Work If the goal is to improve your living conditions while making $50k a year, your personal financial goals must be a key consideration. Personal financial goals are targets we aim for when managing our money. So what falls under this label? Debt, mortgage, future expenses, and homeowner challenges fall under this label. Let’s examine them to evaluate the suitability of a $50,000 yearly salary: In many cases, these three personal finance criteria intermingle. For example, you might be on a $ 50k-a-year salary but recently took a loan to buy a home to start a family. That will, undoubtedly, put you under a lot of financial pressure and, in some cases, unsustainable pressure.  So the goal of making your salary work is to eliminate debt, start saving, and look for higher-paying employment opportunities (which we will discuss next). Evaluate Your Current Job and Career Opportunities The nature of your job and career prospects also significantly influence whether $50,000 a year is sufficient. So to determine the validity of a $50k yearly salary, consider the following: Balance Wants and Needs  While assessing the adequacy of your salary, it’s essential to consider your lifestyle and non-essential expenses. When under financial pressure by making less than the national average, it’s important to highlight the importance of creating a budget. Therefore, in addition to following strict budgeting techniques, consider the following: MaximizeYour Earnings Through Government Benefits and Taxation  Understanding the tax implications of your salary is crucial. Individuals making less than the national average could explore the following strategies to maximize their earnings: Determine Local Economic Conditions Beyond your geographical location, local economic conditions also matter. Determine the following local economic conditions to make $50k a year work for you: Your local economic conditions play a crucial role in career, housing, and social opportunities. Taking advantage of these conditions can be instrumental in making $50k a year work for you.  Plan Ahead When Supporting Loved Ones on a $50k Salary If you have family or dependents, their needs must be factored

Investing In Websites: How To Do It The Right Way

Reading Time: 3 minutes From all the ways to utilize the World Wide Web to gain financial freedom, investing in websites has been around ever since we wrote the first HTML and CSS code.  Prospective investors are constantly looking at new ways to put their hard-earned dollars and reap the benefits in the future. But as we already mentioned, investing in websites has been around for a while. Quite the contrary, professionals have been making money from websites for over a decade.  Granted, it took time for us to popularize the World Wide Web, but there’s no better time to explore this particular investing niche. So that begs the question, how does investing in websites work? Moreover, what website investment option types exist? We will look at these questions and provide a detailed overview of this particular investment niche. Before we begin, we must mention that this article doesn’t offer financial recommendations. Instead, we aim to educate our readers and highlight popular and niche investment options.  With all that said, let’s look at what investing in websites means.  Investing in Websites – A Beginner Look Investing in websites can take many forms. The rise of online commerce (eCommerce) and web-based outlets has paved the way for people to grow their wealth through online means. Nowadays, investors can generate passive income and grow their wealth simply by having an online footprint. Therefore, investing in websites can mean different things to different people.  But it is generally accepted that investing in websites is the practice of making money through purchasing and selling websites. However, as mentioned previously, investing in websites occurs in several forms.   These include purchasing an existing website, building and monetizing your own website, and participating in crowdfunding campaigns for web-based businesses. Let’s look at all three to determine what investing in websites means. 3 Ways to Invest in Websites The three ways to invest in websites include: Purchasing Websites One of the more popular website investment options includes purchasing an existing website. This is a low-risk website investment method. The gist is simple; you buy an already-established website that already generates income.  With this website investment method, investors can potentially earn a return on their investment through advertising revenue or selling products or services. Subsequently, investors can also flip the website for a healthy profit. Before buying a website, it’s important to do thorough research and due diligence on several website metrics, including website traffic, revenue, and expenses. We do this to ensure the website is a smart investment option. Building and Monetizing Websites If purchasing a website was relatively low-risk, building and monetizing a new website is the opposite.  This website investment method involves buying a website domain and finding ways to monetize. Popular options include advertising (ads), subscriptions, or selling products or services. However, this investing in websites method takes a lot of time to pull off.  Not only would investors need to invest money, but they also need to invest time and effort to see potential rewards. Finally, building a new website is far less costly than purchasing an already-established website.  Crowdfunding Web-Based Businesses In today’s time, a website is an online business. Every business and organization needs a website to increase visibility. Moreover, many businesses fully operate online through their websites. Therefore, there’s a third website investing option – crowdfunding web-based businesses. Participating in crowdfunding campaigns for web-based businesses allows investors to contribute some amount of money to help fund the development and growth of the web-based business. Investors, in return, get a share of the profits or equity in the company.  Like the previous website investing method, participating in crowdfunding campaigns for web-based businesses is risky. The reason for such high risk is that many such campaigns fail to reach their funding goals. Even if a business reaches its crowdfunding goals, the potential returns could be minimal.  Is Investing in Websites A Worthwhile Investment Option? The short answer is yes. Investing in websites can be a worthwhile investment option. However, there are caveats.  The downsides to this type of investment are time, effort, and money. Unfortunately, each website investment type demands all three to varying degrees.  Even if investors turn to “flipping websites,” it still takes time, money, and effort to prepare the website for a healthy profit.  Regardless of the website investing method, investors must do their due diligence. Therefore, the most important factor investors must consider is the research and due diligence process before investing money.   Next, investors should carefully consider the risks and potential returns before investing their money. With that said, the right approach can turn any website into a lucrative investment option that ultimately leads to building wealth and passive income.

Comparing VTSAX vs VOO: Which Fund To Choose?

Reading Time: 3 minutes VTSAX and VOO are the two largest index funds investors should consider when building their portfolios.  The Vanguard Total Stock Market Index, commonly known as VTSAX, and the Vanguard S&P 500 Index ETF (VOO) might seem similar to investors. But there are essential differences between both funds that investors should consider before deciding which one to invest in.  This guide will go over these differences and give you a thorough explanation of both. The guide’s goal is to provide enough information on VTSAX vs VOO so you can decide which investment fund to build your portfolio around.  Before we begin, we must emphasize that this website doesn’t focus on investment recommendations. Instead, we aim to educate eager investors and provide guidance.  With all that said, let’s start. What Is Vanguard Total Stock Market Index Fund (VTSAX) Vanguard Total Stock Market Index Fund, or VTSAX, exists to track the performance of the U.S. stock market or CRSP US total market index. This fund holds a diverse range of stocks of all cap sizes. The list includes large, mid, and small-cap stocks and growth and value stocks. So far, VTSAX holds 3535 stocks with a low expense ratio of 0.04%, which means it charges low fees to investors. Investing in VTSAX is only possible with a minimal $3,000 initial investment.  What Is Vanguard S&P 500 Index Fund? On the other hand, VOO, or the Vanguard S&P 500 Index Fund, only tracks the performance of the 500 biggest publicly traded companies in the U.S., as the name suggests. In addition, this fund holds large-cap stocks primarily, with most stocks coming from the tech sector. As a result, VOO has a slightly higher expense ratio of 0.03%. Other than that, VOO holds only 508 shares and doesn’t offer the possibility to invest in fractional shares.  Now that you have a general idea of VTSAX vs VOO, let’s look at the main differences between both investment funds. VTSAX vs VOO Differences The differences between investment funds will provide even more information to plan your future moves. Despite being similar, there are significant differences between both funds.  Cap Size The first difference between VTSAX vs VOO is the cap size. Namely, VOO tracks only large caps. Given that the fund tracks the S&P 500 index, you will rarely find a mid-cap. On the other hand, VTSAX tracks large-caps, mid-caps, and small-caps.  VTSAX offers a more diverse portfolio. It includes stocks from different sectors and market capitalizations. For example, 84% of the VOO fund is made of large caps, compared to 73% for VTSAX.  This means two things. One, VTSAX is less susceptible to market fluctuations and the performances of specific sectors. Two, VOO is heavily susceptible to potential market fluctuations. Remember that VOO tracks the S&P 500 index, which predominantly includes companies from the tech sector. Considering that, it’s important to remember that VOO can succumb to market fluctuations more easily than VTSAX.  Performance Another difference in the VTSAX vs VOO debate is market performance. This is a crucial difference that investors must pay attention to. Looking at the historical performance of both funds, we can conclude the following: The stats show almost identical market performances. With that said, these numbers do not necessarily indicate future returns, as is the case with the performance over the past year. Given that, it’s essential to consider other factors when deciding between these two funds. Other Differences To finish up, we will name other differences investors should pay attention to when choosing between VTSAX vs VOO. Those are: Wrap Up Choosing between VTSAX vs VOO as the desired investment fund depends on several factors. None are most important than your goals and risk tolerance. For example, VTSAX may be better for investors looking to diversify their investment portfolio. On the other hand, VOO may be more suitable for investors looking to invest in the tech sector. Look at both sides to determine which investment fund is right for you.

Is Owning Condos for Rentals a Smart Investment? Benefits And Challenges

Reading Time: 3 minutes Owning a condo for rental purposes can be a smart investment opportunity. However, investors must be willing to put in the time and effort to manage their property. If so, condos for rentals are an excellent way to diversify your real estate portfolio.  One of the reasons why many choose to own condos for rentals includes the lowered costs. Namely, turning a condo into a rental property costs far too less than buying a house. So that begs the question, is owning condos for rentals a smart investment? Let’s find out. 3 Reasons Why Condos Are A Smart Investment Condos offer real estate investors several benefits. Therefore, we can answer the question by looking at the following three reasons.  One of the reasons you should consider owning a condo for rentals is the low maintenance costs. Unlike traditional rental properties, which often require extensive repairs and upkeep, condos typically have a homeowners association that takes care of common areas and exterior maintenance.  This means landlords can spend less time and money on maintaining their property and instead focus on finding and retaining tenants. House prices are getting ridiculously high. So what do people who can’t afford a house do? – They rent. That’s where rental condos come in. Renters love condos, particularly in urban areas.  As we all know, cities are getting bigger and more crowded by the year. So space comes at a premium. Condos are smaller and often in desirable locations. They are especially appealing to students, young professionals, and people that live alone. Landlords who own condos in popular areas can often command higher rents, leading to increased profitability. Finally, owning a condo for rental purposes can be a good long-term investment. As the value of real estate tends to appreciate over time, landlords who hold onto their property for the long haul can potentially see significant returns on their investment. So for eager real estate investors looking to diversify their portfolio, consider owning a condo for rentals. 3 Challenges Of Owning A Condo For Rentals  Investors should know several challenges before diving into the condo rental world.  While owning a condo for rental purposes can be a rewarding experience, it’s important to be aware of the challenges that can arise. So let’s do that to get a sense of whether or not condos are a smart rental investment. One of the main challenges is finding and retaining tenants. High tenant turnover isn’t anything new in the world of commercial real estate.  While every landlord should screen tenants to determine their financial situation, landlords must also be aware that tenants come and go.  One thing landlords can do is look for tenants who will pay at least three months in advance to know they’re serious. Every landlord should be aware of the marketing challenges associated with rental condos. While there is no shortage of websites to market your condo for rent, remember you’re competing with every other landlord in your city. That means landlords must consider their marketing efforts and do better to get the most desired tenants.  Landlords must also learn how to manage their rental condos. Fortunately, owning a condo for rental involves less management than traditional rental properties. For example, landlords must determine fair market rent even if condos are in high demand. You must also be prepared to evict a tenant who doesn’t play by the lease rules.  Lastly, landlords must be prepared to handle any maintenance or repair issues that may arise, even if these tasks aren’t their responsibility. Conclusion To summarize, owning a condo for rental purposes can be a smart investment for those willing to do the work. With low maintenance costs, big rental demand, and the potential for long-term appreciation, condos offer several benefits for landlords.  However, it’s important to know the challenges that can arise and to be prepared to put in the time and effort required to manage a rental property.

The Best 7 FIRE Books

Reading Time: 4 minutes Financial independence retire early, or FIRE, in short, is a popular movement that aims to help individuals achieve their financial goals and financial independence and help them retire at a young age. While the concept may seem daunting to some, many FIRE books are available that provide guidance and inspiration for those looking to join the FIRE movement. And what better way to learn something new than through reading? Therefore, here are seven of the best FIRE books to help you achieve financial independence and retire early: The Simple Path to Wealth Written by JL Collins, this is a must-read FIRE book for anyone interested in achieving financial independence and retiring early. Collins provides a clear and concise guide to investing, saving, and living a frugal yet fulfilling life. He covers the importance of saving and investing in index funds and how to live below your means. This FIRE book is also forwarded by one of the biggest finance bloggers on the internet, Mr. Money Moustache. Your Money or Your Life Written by Vicki Robin, this classic book is a comprehensive guide to financial independence and a staple of the FIRE lifestyle. Robin covers many topics, including budgeting, investing, and living a meaningful life. She also provides a step-by-step plan for achieving financial independence, including calculating your “financial independence number” and creating the perfect budget for your needs. The Millionaire Next Door Written by Thomas J. Stanley, this book debunks the myth that you need to be rich to achieve financial independence. Stanley profiles people who have achieved financial independence through hard work, smart investing, and frugal living. He provides valuable lessons on achieving financial freedom, regardless of income level. The Bogleheads’ Guide to Investing Written by Taylor Larimore, this FIRE book is an excellent resource if you are looking to start investing in index funds. Larimore and his co-authors provide a clear and concise guide to FIRE investment, covering topics such as asset allocation, risk management, and tax optimization. They also offer practical tips for achieving financial independence through wise investing. Retire Early? The Non-Penny-Pinching Way By Tanja Hester. Tanja is the author of many interesting financial books, such as Wallet Activism. This FIRE book makes you rethink money, time, and work to ultimately get you interested in the FIRE movement. And as the critics say, this book is for people who move away from the traditional career path. She also covers topics such as investing, budgeting, and living a frugal yet fulfilling life. Quit Like A Millionaire  Written by authors Bryce Leung and Kristy Shen, this book explains the basics of the FIRE movement, and since both writers are authors of children’s books, it’s explained so that everyone can understand. The book talks about investing, retirement, frugality, and smart budgeting. We recommend this book if you are getting started with the FIRE movement. Retire Early with Real Estate Written by Chad Carlson, this book is for people passionate about real estate. It’s a good read, and it helps you understand real estate investing and contains many valuable and practical tips. Real estate has shown in the previous years that is a stable investment if you are doing it right, and Chad Carlson is living proof of it. Final Thoughts If you decide to start the long journey to financial independence or are already on your way down, these FIRE books will undoubtedly provide valuable guidance and inspiration. By following these authors’ advice, you’ll be well on your way to achieving financial independence and retiring early. FAQs What Book Started the FIRE Movement? The book that started the FIRE movement is “Your Money or Your Life” by Vicky Robin and Joe Dominguez. They wrote the book in 1992, paving the way for the FIRE movement and FIRE lifestyle. How to Retire Early With Real Estate? If you’re looking to achieve FIRE through real estate, the book “Retire Early With Real Estate” is an excellent source that teaches readers the fundamentals of real estate FIRE fundamentals. What Are the Best FIRE Books to Achieve Financial Independence and Retire Early? The best FIRE books for financial independence and retiring early are:

Why Is Dubai So Rich? And Why Are Rich People Moving There?

Reading Time: 4 minutes We all know of Dubai, one of the most luxurious cities in the world, if not the most luxurious, but have you ever asked yourself why is Dubai so rich? Dubai has been a city of commerce for the last 200 or so years. Its positioning allowed it to progress in the trade industry long before it ever discovered oil. But let’s start from the beginning; how did Dubai become what it is, and how has it progressed over the years? Dubai Then And Now Starting from the 1700’s Dubai was one of the leading places for pearl production and pearl distribution. The people were skilled in fishing and pear diving, this did bring some wealth and success to the city, but it’s nothing compared to today. The Dubai we know started in 1950 when oil was found on its territory. After that breakthrough and after exporting that oil for the next 20 years, Sheikh Rashid bin Saeed Al Maktoum, the Father of Modern Dubai, decided that Dubai’s portfolio needed to be expanded. He built the first airport and started working tirelessly on improving the infrastructure. Highways were built, ports, factories and many buildings, and all that laid the foundation for what Dubai is today. The Sheikh focused on bringing tourism to this city. He made the largest free zone in the world, gave the best tax breaks to companies, and had the infrastructure possible development for the companies. It surely looked like Dubai was on the right path to becoming the jewel of the middle east. Today, 50 years after the Sheikh’s plan was devised, Dubai is everything he could have imagined and more. Dubai has the tallest building in the world, the best highways, the biggest shopping malls, the best restaurants, hotels, private islands, and even a ski slope… This was all made possible with the magnetic attraction Dubai has, with over 3.4 million residents, and is ranking the 1st richest city regionally and the 23rd richest city in the world. But after striking oil, Sheikh Rashid bin Saeed Al Maktoum said, “My grandfather rode a camel, my father rode a camel, I rode a Mercedes, my son rides a Land Rover, and my grandson is going to side a Land Rover, but my great-grandson is going to have to ride a camel again.” The Sheikh’s words speak about Dubai’s supposed dwindling oil reserves after decades of excavation. While it’s impossible to speculate when Dubai will run out of oil, we can speak about why rich people and extremely rich people are constantly moving to Dubai. Why Are Rich People Moving to Dubai? There are many reasons why the rich are moving to Dubai, but we can sum everything up into one bigger reason – the quality of life for rich people. Let’s get started: It’s Easy to Get a Resident Visa. Since we are talking about rich people, in Dubai, you can buy a property (and some of the properties aren’t that expensive, to begin with), and the state will provide you with a resident visa for 3 to 5 years, depending on the property you bought. The Quality of Life As we mentioned earlier, the quality of life in Dubai (especially when you are rich) is amazing. There, you can find the best restaurants, shopping centers, and hotels. The buildings, the parks and the whole scenery of the city have been almost made perfect. Tax Breaks The UAE and Dubai have adopted a 0% income tax policy, and as they said, that won’t change anytime in the near future. This means that you will get 100% of your salary. Also, besides a 0% income tax for individuals, there’s a 0% tax policy for companies which is the main reason why business owners move or open up new companies there. Networking The UAE is the third richest country in the world per capita, only behind Luxemburg and Qatar. This is very good news if you are going there for networking. A large percentage of the people you are going to meet there are rich or are getting there. It’s not easy finding like-minded business people who wouldn’t want to live in a city where most people have an entrepreneurial fire in them. Many of today’s business deals and business meetings are happening there, right place, right time, right? Events Another important part for business people is the events. Being in the same building as the industry giants, pitching an idea, and looking for investors for your new company all comes from networking at these events. Dubai currently has the biggest cryptocurrency events, construction, medicine, business, sales, textile, gas, oil; you name it. Why travel every time when you can be next door to an event like this? There are more than plenty of good reasons for any rich person to consider moving to Dubai, even partially. The options provided to get richer and enjoy life while doing it can not be compared to any other city. Wrap Up We can’t tell you if you should or shouldn’t move to Dubai, but we were just trying to state the obvious facts. It’s no secret that the business climate in Dubai is the best in the world, and its future is looking even brighter, but if you are an individual who is trying to make it, maybe you should consider this as a valid option.

What is Airdrop Farming? How To Earn Passive Crypto Income

Reading Time: 4 minutes Airdrop farming is when a cryptocurrency project delivers tokens to holders’ wallets. Airdrops are a form of marketing strategy that incentivizes holders to perform an action or hold on to their tokens. In return, the project delivers these tokens to the holders. Airdrop farming is a sound strategy with a clear goal and objective. That being to raise awareness for the project. Airdrop farming has several benefits in a highly competitive market where projects fight for market share. Let’s find out what airdrop farming is and how you can earn passive crypto income. So with all that said, let’s start. Key Takeaways What Are Crypto Airdrops? Blockchain startups rely on multiple marketing strategies to raise awareness for their projects. One of these strategies is airdrop farming. Airdrop farming is a popular strategy when the project is in the Initial Coin Offering stage – meaning the cryptocurrency has just been listed on exchanges. Cryptocurrency projects will share the airdrop on their social media profiles and website to promote the marketing activity. A successful airdrop campaign is when the project manages to increase the number of token holders. In return, holders get rewarded with free tokens. How To Qualify For a Crypto Airdrop? We mentioned that holders must perform certain actions to be eligible for airdropped tokens. This could mean participating in an event, signing up for a newsletter, posting about the cryptocurrency project on your social media, and more. In most cases, airdrop campaigns require holders to hold a minimum quantity of cryptocurrency. In return, they are given free tokens. What Types of Airdrop Farming Projects Exist? Several types of airdrops exist in the cryptocurrency space. These are but are not limited to: A standard cryptocurrency airdrop is when holders receive the tokens by simply expressing interest in the project. Many standard airdrop campaigns require the holder to provide their token address only. A standard airdrop campaign has limited amounts of tokens available, and there’s a limit to how many tokens holders can receive.   A bounty airdrop campaign requires the user to perform a specific task. This could be raising awareness for the project, sharing the project on social media, or recruiting others.  If the campaign asks holders to recruit others with a referral link, the holder receives a finder’s fee for every new user that signs up through their referral link. Holder airdrops are the most common form of airdrops. These airdrops occur when the cryptocurrency project rewards users for holding the cryptocurrency in their wallets.  This form of crypto airdropping works based on how many tokens the user holds. Even if token holders don’t want the airdropped tokens, they can do nothing about it, as the cryptocurrency project will send the tokens to every holder’s address.  An exclusive airdrop is a specific type of cryptocurrency airdrop. This form of airdrop rewards holders not necessarily for holding large amounts of the cryptocurrency’s token but for other activities. Exclusive airdrops reward users who invest time into the project, such as raising awareness, posting on forums, referring others users to the projects, etc. In some cases, users with zero tokens in their addresses might receive the airdrop. How to Farm Airdrops? Now that we’ve explained the basics of cryptocurrency airdrop farming, let’s see what it takes to farm airdrops. Moreover, is it possible to earn passive crypto income with airdrop farming? The short answer to this question is yes, as all it takes to be eligible for airdrops is to do what the crypto project asks. You can farm airdrops by simply owning the cryptocurrency. But in most cases, you need to own a blockchain-based cryptocurrency – Bitcoin, Ethereum, Cardano, Polkafot, EOS, etc.  Since other cryptocurrency projects operate on these blockchains, you will be rewarded by simply owning the base cryptocurrencies. But by far, the best way to farm airdrops is to look for airdrops actively.  You don’t need to look far as you have all the information you need by visiting Airdrops.io. This website gives you information on the latest and hottest airdrops. In addition, you can see the requirements for each airdrop.  Another popular way to find information on upcoming airdrops is to join cryptocurrency Discord servers. In addition, Twitter is an excellent space for airdrop farming rumors as it has a well-developed cryptocurrency community. Finally, you can look for airdrop rumors on this Google Spreadsheet.  By applying these methods, you are one step closer to successfully farming cryptocurrency airdrops.  Conclusion Airdrop farming is a clever way to increase your token holdings for specific cryptocurrencies. The goal of airdrop farming is for projects to raise awareness for their coin and for holders to receive something for free. Therefore, it’s a win-win situation for both parties.   But is airdrop farming a viable method to earn passive crypto income? The answer is yes. However, not every airdrop is worth participating in. Some airdrops are worthless because the base cryptocurrency is worthless. So it makes no sense to invest your money into a worthless project. We will always mention doing your own research before investing in anything, especially cryptocurrencies. It’s not uncommon for crypto scammers to use airdrops to acquire your email and potentially your private keys.

Double Net Lease Explained

Reading Time: 2 minutes A Double Net Lease or NN Lease is the most commonly used lease in commercial real estate. It is also the most favorable lease to the property owner. Types of Leases In a double net lease, the tenant is responsible for paying taxes, rent, and insurance costs. All of these costs are paid directly to the property owner and he is responsible for managing the funds. If the costs are split between tenants, they are responsible for paying according to their square footage usage. Pros and Cons for the Tenant  Pros Cons Pros and Cons for the Property Owner Pros  Cons Summary  The double net lease can be a good solution for both parties in certain situations, but before you decide or sign anything, no matter if you are the tenant or the property owner, always make sure to not only read but understand the lease, its cost, and obligations.