The Forever Cash lifestyle is all about investing in assets that will provide a constant cash flow for the foreseeable future. These assets come in all kinds of forms, but a few notable examples might involve purchasing a small business or renting a house to a tenant. But how can you invest in a cash producing asset if your bank account is looking pretty lean? You will have to find a way to generate some short term cash that you can use as seed money for future investments. How should you go about doing that?
Keep in mind that at you are looking for quick ways to turn a little time and money into more money, which you can then invest in a cash-producing asset. You shouldn’t be quitting your job at this point, so try to find a way to make money using the time you have outside of your full time job. A good idea might be to post some articles or eBooks on amazon.com, where you can generate several hundred or thousand dollars per month depending on the success of the product.
Also, consider using any skills that you may have to hire yourself out using craigslist.org or elance.com. These are websites where clients post jobs ranging from web design to translation and transcription. If you have internet access and can use a computer, chances are that you can find a job to do in your spare time. The work might not be super interesting, but keep your eyes on the prize. All you want to do is make your bank account grow.
Another idea might be to humble yourself and offer to do chores for your neighbors. Does the idea of mowing lawns and washing cars embarrass you? While it’s true that those jobs are generally reserved for teenagers trying to save up money for their prom, remember your long term objective. Your goal is to save up enough money to invest in some sort of a cash producing asset. So who cares what the neighbors say. Let them laugh. They aren’t the ones who will be paying your bills when you retire. You have to take control of your own finances.
There a lots of ways to earn a little extra cash that you can use to invest later. If you resist the temptation to spend it on toys, then that money will soon multiply itself and will turn into a sort of fountain that produces Forever Cash for you and your family.