Online Money Making–Stocks, Forex, Sales

Online Money Making–Stocks, Forex, Sales

Here is a brief overview of some of the ways to make money online–Holistic Abundance Inc. will be delving into a variety of these for diversification and we will discuss this for your benefit as well. First–stocks: trading and investing. There are many online brokers who are reliable and the average person can open an account rather easily for a small amount of money. The corporation will be looking to utilize ETrade which only requires $500 to open an account. For very small investors/traders who are getting their feet wet and seeking to gain experience, or have limited funds, Robinhood is not a bad choice–no commission costs for trades and no minimum balance for accounts. However, ETrade is better overall as you can short sell stocks there, the execution is better and more low priced stocks are available for trading. Others like TD Ameritrade are also reputable. Many people who do not want to spend the time or lack the passion for learning more about stocks might be better served investing in mutual funds, such as a Vanguard  stock market index funds with very low fees. A system of regular investing known as dollar cost averaging will minimize trying to time the peaks and valleys of the market ups and downs over the years. Be sure to utilize any available 401/403 plan at work that provides a matching contribution by the employer and tax breaks as well. For your IRA, you may want to consider a mix of a traditional IRA for the tax break it gives you each year and a Roth IRA where you are not taxed at all on any withdrawals after age 59-1/2. One interesting idea for the Roth IRA would be to include a few speculative stocks that you think have the potential for explosive growth over time as you would not have to pay any taxes on the money when cashing in at the eligible age if it became something like the next Apple.

The forex, or currency trading, market is another option to explore for online money-making. Holistic Abundance Inc. is in the process of utilizing Forex.com for currency trading. Again, this is an area that would require someone to go through a learning curve to become more familiar with forex. You actually can open up a free demo account at www.forex.com and practice trading currencies before risking real money. Also, there is a school for learning more about currency trading for free at www.babypips.com

Online sales, such as opening up your own e-store online, is another option some explore. Again, there will be a learning curve and some time and expense to set this up. Holistic Abundance Inc. is in the process of setting up a couple of online stores right now to sell a variety of products. One thing that is important to keep in mind is that you are, in a sense, at the “mercy” of other people deciding to buy your products. Also, you may need to spend money on advertising to try and drive more traffic to your website so you have a chance of more people looking over what you have to offer.

Online network marketing is also an option. Less expense and less website techie knowledge to get started, but, again, you do depend on whether or not other people decide to buy products from you and/or enroll under you. While potentially good in concept, some network marketing companies might have products that seem too expensive to some prospective customers, while others may have had a past experience where they tried a MLM (multilevel marketing company) and didn’t make much money from it. Holistic Abundance Inc. will be selective by choosing only companies that meet the following criteria–a good website online for people to enroll and/or buy what are good products and good potential opportunity, plus good support. It is also nice to have the option to be less time-intensive when busy with other obligations such as a full time job, family, situations that arise (as does happen in real life vs abstract perfect scenarios).

Another potential online money-maker can be writing books for publication via Amazon, smashwords, etc. –if the online e-book gains some traction and sales take off, the royalties could be quite lucrative. Again, you would have to spend some time and effort in writing a book and there are no guarantees at all that it will become a big seller, despite many hours writing the book.

Sometimes you just have to give something a shot because you want to see what you can do. Some folks probably give up too soon before going through a learning curve and also gradually getting more exposure to potential customers.

It is nice to have the freedom to look into the various possibilities and see what might be your passion, your niche, the opportunity that resonates with you.

Another thing to keep in mind is affiliate marketing–you can create accounts for free with places like Rakuten Linkshare and pepperjam.com which have deals with a huge number of companies, some very large and well-known, who will provide you with the opportunity to post banner ads on your website.  If people click on the ad and buy a product from the other company, you will get a commission from the sale.  While there is no cost at all for you, it is good to keep in mind that you still have to create your own website and find a way to drive traffic to your website so that enough people will see the ads, click on them and then buy something.  Again, no guarantees.

But there aren’t many guarantees in life.  Each person gets to decide how much effort they want to put into learning something, what their risk tolerance might be for some endeavors and conduct an inner search on their own talents, passions, desire to learn and grow…no one else can do it for you.

 

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