My Bonus Money

Jethro Jones
My Bonus Money

How can educators achieve financial independence? They do this by taking control of their money! In My Bonus Money, we share how to make passive money, side hustle money, and use your unique skills as an educator to make additional money. We'll talk with those who are just starting on the journey, those who are near the end, and everyone in between. Part of the Be Podcast Network.

  1. AUG 18

    Getting the Highest Pension Payout When You Retire

    Learn how to get the guaranteed highest pension payout. Jethro Jones discusses the "Pension Maximization" strategy for school principals with John "Hutch" Hutchinson. Rather than protecting your spouse by choosing a reduced monthly benefit payment from your pension, you can instead calibrate a life insurance policy to guarantee you the highest monthly pension payout possible. Plus, you can also take extra tax-free income from the cash value as you go. Resources & Timestamps: Comprehensive article on how Pension Maximization works: https://bankingtruths.com/pension-maximization/ Video example of Pension Maximization: https://youtu.be/dReUsxKJTFc Book a free consult about customizing Pension Max for you: https://bankingtruths.com/pension-max-schedule/ Podcast Timestamps 0:00 - Risk off money and how Big Banks invest their safe reserves. 4:00 - Intro to the Pension Maximization strategy7:00 - How a Life Insurance policy can help you take a bigger pension payment11:20 - Pension reductions for survivor benefits are just expensive "life insurance" policies that won't even pay your kids if both spouses die18:10 - Only 4 possible outcomes when retiring. What happens with & without Pension Max? 23:58 - Where to find the money for "another bill" with this Life Insurance for Pension Max. 28:57 - Start with cheap term insurance as you build up to a full-blown Pension Maximization strategy 34:47 - Resources to learn more about Pension Maximization 37:01 - Take tax-Free supplemental income from life insurance like a Roth

    37 min
  2. 06/02/2023

    May Income Report and My Updated Strategy Explained Episode 11

    Total passive income for Month of May 2023: $1,875.15 Total money invested so far: $16,272 Total passive income for 2022: $3,318.62 total  Monthly rate of return: 11.52%  Yearly cumulative rate of return: 20.39% Welcome to the My Bonus Money podcast, where I discuss how educators can make side hustle money. Today, I'll report on my passive income for May 2023 and share my new investment strategy using tips from mybonusoptions.com. In May 2023, I earned $1,875.15 in passive income with a total investment of $16,272 so far this year. My monthly rate of return was 11.52%, while my yearly return reached 20.39%. My current strategy involves following trade ideas provided by mybonusoptions.com to better understand investing and improve results. Not every tip works out as expected but learning is the goal here. For example, I tried an AMC long put trade idea which you can find in the show notes for this episode (not financial advice). The concept behind this strategy is creating a long put on AMC with a $6 strike price to potentially profit from a decrease in stock price while managing risk through setting stop losses. After purchasing and later selling the options contract at different prices ($1.01 when bought; $1.14 when sold), I achieved a return of 12.87% on the investment despite some losses along the way. To learn more about these strategies or try them yourself with paper trading before committing real funds, visit mybonusoptions.com/blog (delayed by seven days) or subscribe for real-time access at just $50 per month. If you want to start investing with only $200 and learn more about generating bonus money, download our free course at mybonusmoney.com. Please remember that nothing shared in this podcast should be considered financial advice—consult professionals for guidance tailored specifically to your situation. Or go to mybonusmoney.com/start to download the FREE course teaching you how you can do this too.

    10 min
  3. 03/26/2023

    From Foster Care to Harvard with Josh Shipp My Bonus Money 9

    Statistically, Josh Shipp should be dead, in jail, or homeless. But his success as a preeminent author, speaker, and global youth empowerment expert is living proof of the power of one caring adult. A former at-risk foster kid turned youth advocate, Josh is renowned for the documentary TV series on A&E that followed his groundbreaking work with youth and families. He has written two national bestsellers to date, “The Grown-Up’s Guide to Teenage Humans” – _winner of the Nautilus Gold Award for Parenting & Family_ – and “The Teen’s Guide to World Domination.” FROM FOSTER CARE TO HARVARD Thanks to the support of teachers, counselors, and a wonderful set of foster parents, Josh went on to be listed on Inc. Magazine’s 30 under 30 listand completed his postgraduate studies at Harvard. Josh is regularly called on by OPRAH, CNN, FOX, The New York Times, 20/20, Good Morning America, and others to provide commentary on common challenges faced by parents and teachers. Over the years, Josh has keynoted events for countless groups of parents, educators, and social workers – with audiences as large as 55,000 – and to date has spoken live in front of more than two million people. Viral clips of his acclaimed presentations have been viewed an estimated 50 million times online through platforms such as UpWorthy, Goalcast, and BuzzFeed. To serve his ultimate goal of helping as many kids as possible, Josh trains other speakers through Youth Speaker University, helping them use their own stories to make an impact. His social and emotional learning curriculum, Year of Awesomeness, is in use in hundreds of classrooms all around the world, while his free newsletter offers practical strategies to 200K+ parents, educators, and social workers. Resources: ** Speaking Gigs for educators https://www.youtube.com/c/youthspeaker/videos https://youthspeakeru.com/confirmed/  https://topyouthspeakers.com/  Please add your bio here:  https://joshshipp.com/about/  https://www.linkedin.com/in/joshshipp/  [https://en.wikipedia.org/wiki/Josh_Shipp(media_personality)](https://en.wikipedia.org/wiki/Josh_Shipp(media_personality))** Can teachers or educators speak Picturing context that is If it works with a group of 30 it will work with a group of 300 Groups of 30 are harder than Percentile better If it’s under 25% or better is a good response Impressed - content turnover Every 2–3 years I need to write a new album and tour it for 2–3 years. Even my best ideas, are 6.2 out of 10. Obsess about every detail Material isn’t there, then you obsess, then you find yourself in a sweet spot where you Principals are not rising their money on speakers, they’re risking their reputation Did poorly as a young speaker - 1. Punish the audience by holding back. 2. When I got tired of telling a story, I didn’t give it the attention. Youth Speaker University 0–100K a year in education market. Top Youth Speakers - 100K+ Booking your first three gigs is harder than your next 100. First Asset - 1 page PDF - overall Tagline, 1 paragraph teaser of that topic First speaking gigs, tap into relational networkBeing the workshop presenter Can you have a 6/10 speaker reel as a beginning? 1 sheet only speak locally Easier to find a new speaking gig for the same speech than making a great talk. Live on facebook (for 15 minutes) Single talk 8/10 - then record New material 85% the same talk every time. 15% contextual and new info. Anyone who could start speaking Good money $3000 How to make good money: Have something else that ups your reputation score. How to increase your reputation score. I’ve seen you in person, come do that here. Video that is 80–90% as good as sitting there –5–7 min Everything else. Creative things to do: Quality vs. Quantity in your outreach. Email 20 people a week every week wtih deep contextualization. 5 minutes on their web site: I

    40 min
  4. 01/22/2023

    Writing Books with Jen Sullivan My Bonus Money 7

    Jennifer Sullivan, M.S. is an executive functioning coach and author based in southeastern CT. She is founder of Fast Forward College Coaching and offers customized college support for diverse learners and their parents as they prepare for the transition to (and through) college. She speaks nationally to high schools, educators, and parent groups about differences between disability support in high school and college, executive functioning success in college and the parent perspective of the college transition. She is author of the book, Sharing the Transition to College: Words of Advice for Diverse Learners and Their Families., and the Sharing the Transition to College Workbook, and the author of College is Video Game: Press Play Jen works with students around the country. She is an educator who runs a business not a business Where she is now is much different from where she was 4 years ago when she started. Working in a regional education service center 2 avenues converged: felt passion & families and opportunities came to me. While the work was hard, it was something she knew she loved. How she went about writing the book, extra time during the pandemic Once you set the intention and say, “I’m going to write a book”, it’s always there. Jen doesn’t know how many books she has sold. Certain times of the year are more profitable. The book is a vehicle of my platform. The parameters of success have changed over time. Perspective for timelines for actually writing a book. Mindset shifts that needed to happen for her to find success. Family needs required m She started to believe in her herself as someone outside of her 9–5 job. The hustle needed to get speaking gigs. The book is giving me a platform to connect, not always connect in speaking The opportunities don’t just fall into your lap. You have to talk about your work and share what you’re doing. - What mindset you need to have to promote yourself. You just really have to not care.

    36 min
  5. 01/06/2023

    The Right Mindsets for My Bonus Money and Month 6

    You have to have a mindset fit for this. As an educator, you’ve been told things and lived your life in a certain way. I’m not saying this is a bad way, just that what has served you in the education sphere is not likely to serve in this Bonus Money world. And this is a vital truth. As you learn, grow, and change, the things that worked for you in the past, don’t necessarily work for you in the future. We’ll get to the mindset piece in a minute, but first, let’s see how I did in Month 6. Ad insertion Let’s talk about grand totals. In just six months I have made in cash a 43% return on my money. I reinvested all of that, admittedly, that 43% didn’t come back to me, because I chose not to pull it out. I chose to reinvest it. This month, I made 8.66% of what I invested in total. For those keeping score, that’s about 1700 dollars. Not bad for not having that much invested. The other interesting thing is that for three weeks this month, and all weeks last month, I was selling puts, and those were not executing. That means that I made a lot of money from never having the puts execute. What did that really mean? I was reinvesting my put premiums to increase the number of contracts I could go after. So, my number of contracts went from 9 to 15 in just a few short weeks. A clear reality: because the stock market has been going down a lot lately, I have experienced my overall value of my stock go down as well. Here’s the difference with what I was doing previously: I am actually making money while the stock is going down. If I were pulling that money out, I would be making money from it. I bring this up now to segue into our discussion about mindset. So, let’s talk about mindset. Here are several things you, as an educator, have abdicated: 1. Your personal salary negotiations have likely been abdicated to a union or association. 2. Your retirement is either in a pension or a 403b, and you have likely abdicated responsibility for taking care of your retirement to someone else. 3. Your salary increases have been abdicated to a union or association. To be clear, these are not bad things, and there are many who have found success by abdicating these things to someone else. That’s not the issue here. What I want to encourage you to do is to take control of your finances and your wealth. Here’s how my first conversation when I was a first year teacher: What would you like to invest in? I don’t know, what’s a good decision? Well, you’re not going to retire for a while, so X mutual fund would be good. Ok. Let’s do that. She finished by saying this was her easiest meeting of the day because I didn’t have any questions. It took me a few years to realize that was a subtle dig. So, what mindset do you need to have? I think three mindsets are very important. You need an open mindset You need a curious mindset You need an investor’s mindset Let’s talk about each of these. What is an open mindset? You’re open to possibilities. You’re open to new ideas and new way of doing things. You’re open to the idea that maybe you haven’t been doing everything so well. I think that this one is the most challenging for educators. We’ve believed and acted a certain way our whole careers and so it is very challenging to do something different and think a different way. One of the best books on this particular subject of changing your mindset is Rich Dad, Poor Dad. It tells of Robert Kiyosaki’s young life in hawaii and the things he learned from his own dad (an educator in Hawaii) and his rich dad (his best friend’s dad). This book will really speak to you because he details how his educator dad thought compared to his investment minded friend’s dad. That’s an action step for getting an open mindset: read Rich Dad, Poor Dad. What is a curious mindset? Curious means that you need to ask questions. You need to seek out information from others. You need to learn what other people are doing. The tip for being mo

    18 min
5
out of 5
26 Ratings

About

How can educators achieve financial independence? They do this by taking control of their money! In My Bonus Money, we share how to make passive money, side hustle money, and use your unique skills as an educator to make additional money. We'll talk with those who are just starting on the journey, those who are near the end, and everyone in between. Part of the Be Podcast Network.

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