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6-20 Income Report

6-20-20 Income Report

Job - $1,825.28

WeBull Profits - $56.10

MTurk - $39.07

Total:  $1,920.45

This month I did not meet my income goals of increasing prior month end's income report. It is entirely my fault for not achieving that goal, but it was a crazy month of on the job training at the new job, and luckily I passed that phase of training for this new client and I will be working full time for them, until otherwise noted. According to them, we are the guinea pigs for this particular client's work from home job segment and we have to keep them appeased in order for them to keep employing us as full time workers for them. As a result, it was a very rapid pace of training and I wasn't able to focus much on anything else. It is also still my responsibility at the end of the day to reach my income and passion project goals of mine of which this blog is very much a part of. For that, it is only my fault.

The good news is that I finally met one of my bucket list items for this year; and that was to buy a used car for transportation to become a more consistent delivery side hustler, and the other was to build my reputation as a Realtor. I can easily do that by buying a decent looking vehicle. This investment was a $2,000 cost for a sedan that should be worth at the very least twice as much. It will be my goal to maintain the car to be in tip top shape and make some modifications to spruce it up and make it a comfier ride. 

My Webull trading profits came as a result of a 3 month hold on $LUV. I bought it when it was dirt cheap, and it was my goal to hold it for as long as I can in order to reach my profit target. I reached the profit target and I increased my small account by about 11% with a total gain on it of 35$ Keep in mind that my portfolio will steadily get less riskier the more I put money into it. I always put 10% of my earnings from income into my Webull portfolio and another 10% into my M1Finance portfolio. As a result, I plan on putting no more than 10% of my portfolio size into any one trade. As the portfolio balance gets larger, I plan on decreasing that trade size to less of a percentage, making the risk of each trade lower and lower. I also plan on primarily investing in long-bias stocks at value buys, but am not opposed to doing any short selling by way of put orders. In fact, I have a July 2nd short put for Ford ($F). I plan on selling this closer to expiration but not any closer than 2 or 3 biz days to that as the Theta decay of an out of the money put option closer to expiration has higher volatility. I plan on selling the premiums when there is at the minimum of 25% of principal entry but ideally 50%. Right now it is at a 50% loss or $20 loss because of the volatility of the markets. My end goal for Webull is to make a really huge trading portfolio that will multiply with more winning percentage long-swing trades than losing ones.

MTurk will consistently be a small semi-active source of income for me. I do at the very minimum 1 survey a day on that platform, and the dividends have been accruing. When you reframe the MTurk payouts like daily dividends like I do, you will become addicted to this sort of platform. It also helps me gain some sort of discipline as it is now a daily morning ritual of mine. I have to have at least one survey done. As a result, every three days my CashApp is rewarded with dividends, which I dollar cost average into Bitcoin with. My end goal is to swap those Bitcoins for Tezos when it reaches $100 each time, in order to compound the yield effect of Tezos staking (or baking or delegating). Eventually, I want all of the dividends I receive from that project to go towards buying up more crypto assets and make  winning swing trades from those. I made an article about this particular topic here.

My Goal For Next Month End 7-20:

My next goal is to increase this current month's income by $100 and keep the ball rolling from the prior month. So my next month's goal will be to receive $2,020.45. I will do this by doing more delivery routes, making more disciplined trades, get more real estate sales to meet my goal of 10 sales by 2020, and become more consistent with my dividend hack brands and social media channels. As a result of that, I should be making more than my minimum needed $100 monthly compounding income goal. Thanks for reading and supporting once more. Have yourself a great rest of your day!

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