There is something to be said about arranging a small portion of your overall financial life so that it truly runs on autopilot and builds wealth organically without any additional effort on your behalf. The objective would be to create an infrastructure that allows you to convert one-time savings efforts into a literal dividend machine that creates permanent income without any further efforts on your part.
If you are interested in creating such a set-up, here’s how I’d go through the process.
Step One. You visit a credit union and open a checking account has no minimums. Fund it with $1,000 or so as your safety valve.
Step Two. Acquire cash-generating assets in a taxable account that can be directly sent to this checking account. For instance, if you had investments in Royal Dutch, BP, and Realty Income that combined to yield 5% of your total investment, you would have … Read the rest of this article!