Wealth

Top 3 Places We Invest Our Money

Creating a multi-million dollar net worth requires making smart investments, taking risks and coloring outside the lines a bit. Jason and I have always said that we weren’t going to work our whole lives. Creating streams of income that are replacing our need to work for “the man” (or anyone else for that matter), has been our #1 focus for the last several years.

Each time we’ve gotten a raise at work, received a bonus or made money from our side hustles, we invested it back into income producing assets. The goal is to create streams of income that do not require us to work for anyone. Today on the blog I am sharing the top 3 investments that we have made and how it has impacted our ability to be able to live freely and less reliant upon a paycheck from a job.

Please note that nothing within this post is financial advice. Consult a professional to better understand what will work for you.

1. Cryptocurrency

This topic is unconventional and not going to be something that everyone is interested in … BUT, I cannot tell our story without including crypto. So here’s the scoop. We have made a significant income from buying digital currencies. I still remember when Jason (my husband) first mentioned wanting to invest. I was so ANGRY! I felt like he was being sucked into a fraud and that he was being very naive. Turns out that was me #oops. We had a big blow out over $10K. He wanted to invest $10K in Bitcoin, and I was like … absolutely not. And now today, he still doesn’t let me live that down. If we had done it when he said, we’d have even more $$ than we do now, like an insane amount … but hey, you live and you learn.

Jason works off of a chart and is moving money around every day. Simply buying coins is not the only thing that helps drive earnings for us. Below are a few other ways that we use digital currencies (aka crypto) to make us money:

Stable Coins
  • We removed our primary savings from traditional banks and into stable coins (stable coins are less volatile and similar to a savings account). The website we use is called Nexo. We did this because you can earn up to 12% on your money when it is in these accounts. We had our money in a traditional bank first, then a high yield savings account at American Express but the % return was so minimal within both of these options. We decided to go where we could see the biggest “bang for our buck.” We of course keep money in a regular bank still, but our larger savings is spread out elsewhere.
NFTs
  • These are hard to explain but I’m linking an article from Forbes that hopefully explains it a little better. The NBA has actually created something called NBA TopShot, this was Jason’s first NFT purchase. I was again very skeptical, but learned my lesson from our previous disagreement and decided to just let him do his thing. After the NBA finals year before last, a few limited edition NFTs were released on NBA TopShot. Jason was locked and loaded with two laptops ready buy. He was successful and bought a few from that limited release. A few months later, someone sold the same one that Jason bought for $250K … yes, two hundred and fifty THOUSAND dollars. So of course I was like … Jason, how many did you buy again?! He told me. I said great. And we’re holding on to them. An NFT that honored Kobe Bryant sold for nearly $400K earlier this year. It’s an interesting industry to say the least, I’m still learning.
Miners
  • Jason has miners set up in our home and throughout Dallas. This is another thing that is hard to explain so I will suggest researching it and learning more about how to mine cryptocurrencies, if that is something that interests you! It is also very lucrative but you do have to know what you’re doing. I do not, but Jason is the whiz. I keep telling him he should teach a class! He shares with our close friends and family but I know that it could help others too! We’ll see. I saw on the news last night that two kids in Frisco, TX are generating $35K a month off of their miners to give you some perspective.

2. Real Estate

We’ve talked about this topic quite a bit. You can check out my “How We Started Our Real Estate Business” post from last month but the main thing to keep in mind here is that real estate is a great way to generate monthly passive income. When our tenants pay rent, we get paid. I also shared about how we paid off a house in 3 years in this post. Having a house completely paid off means that payments are pure profit. We don’t live a glamorous life. We choose to live very modestly so that we can put money into these investments and live freely later. This has paid off because now I no longer work for “the man,” and I am able to work for myself.

3. Back into Our Businesses

Every time we invest back into ourselves, it pays off. I recently invested in a new website in order to create a more searchable and shoppable experience for my readers. Pinterest is the number 1 traffic driver to my website and increasing that traffic + revenue was really important to me. This website is my creative outlet and something I really enjoy! Jason has his investing hobby and I have my blog! We both try to ensure that we are constantly learning and evolving.

Thank you for reading!

I hope this gives you a bit of a glimpse into where we invest our money. Check out Jason’s podcast for a more in depth look. He hasn’t posted in awhile but there’s still some good information on there.

Every family has different goals and abilities, so I obviously don’t think our approach is going to be everyone’s cup of tea, but it works really well for us and has allowed for a lot of freedom that we wouldn’t otherwise have.

Thank you for reading! You can check out other wealth topics from previous months linked here!

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I'm Stephanie

Welcome to stephtaylorjackson.com, your ultimate lifestyle destination for fashion, beauty, travel and #momlife. I am a Dallas, TX based lifestyle expert and every week on the blog I share content that inspires and educates women across the world. My mission is to give all readers a weekly guide on how to live your best life, IN STYLE. Take a look around, we're so glad you are here!

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