Here are different ways to make money! 💸✨

It's so funny, most people think that the only way to make money in the stock market and with stocks is if the value of the stocks go up. But believe it or not, there's multiple ways that you can actually make money with stocks. So let me tell you a bit about it. First of all, let me tell you who I am. I'm Dominique Broadway, award-winning personal finance expert and the best-selling author of the book The Wealth Decision. Get your copy. Let's talk about the stock market. So, there are 3 ways that I want to share with you today. 3+ ways, honestly, that you can make money with stocks. Now, before I jump into that, let me tell you what a stock is. So, for those of you that don't know, a stock is essentially when you purchase a share of ownership or have a vested interest in a company. And you can purchase stock in any company that is a publicly traded company. Now, for years, most people or historically I would say, you could only— when you invested into stocks, you could only purchase a whole share, right? And now, with technology because times have changed, you can purchase whole shares of stock by paying the share price or you can purchase what we call a fractional share, meaning you can buy a fraction of the share. So example, let's say if Apple stock is trading at $100, but you're like, hey, I only have about $25, $50 to start investing with, then cool, you can do that. You can purchase $50 of Apple, and it's going to give you 50% or 0.50 of that share. So you can purchase a whole share, or you can purchase fractional shares. Now, now we have a little bit of understanding of how stocks work. Let's talk about how you can actually make money with stocks. So one of my favorite, or I would like to call it the lazy way to make money in the market, is dollar cost averaging. So essentially what dollar cost averaging is, is when you pick a dollar amount. Once you pick that dollar amount, Then you pick a frequency, right? So you say, hey, I'm going to invest $100 in the market or in a certain stock every single week, every single 2 weeks, every single month, whatever it may be. Once you determine how much and you determine when, then you want to determine what stocks you'll actually invest in. So I always tell people to make a list of your favorite companies. So one of my favorite companies is Apple. Y'all probably hear me talk about them all the time, partly also because it's one of the very first investments that I ever made, right, was in Apple and Jones Soda. So I can— you could say I kind of like popped my cherry to Apple, okay? But anyway, so Apple is literally one of my favorite companies to actually invest in, okay? So you could say, all right, I'm going to take $200 a month. And I am going to invest in Apple. Boom. So that's the formula: amount, frequency, stock. Alright, so fill that in. Amount, frequency, stock. I'm going to take $200 every single month and invest it into Apple. I'm going to take $200 every single month and invest it into Nvidia. I'm going to take $100 every week and invest it into Google, okay? That essentially is what dollar cost averaging is. It's investing equal dollar amounts at specific frequencies over time, okay? So, essentially, you are just making sure that this is happening not just one time but it's happening consistently, okay? So, that's one way, dollar cost averaging. Now, if you don't want to do it consistently, you can also take your stock or take your investment in your dollar amount and invest it one time. Some people like, "Hey, I have $1,000 that I want to invest. I'm going to take this $1,000. I'm going to invest into these stocks and I'm going to keep it moving." But if you want to make more money and grow your portfolio quicker, then you definitely want to implement this process of dollar cost averaging. And I want to do— I have a separate video where I share with you how my daughters are on track to be millionaires by the age of 16. And I'm literally using the simple concept of dollar cost averaging, okay? So, that's the first way. Dollar cost averaging. And with this dollar cost averaging strategy, it's typically used to build your wealth portfolio. And essentially to build your wealth over time, okay? So, if you're looking to build wealth over time, you can go in and just purchase stocks whenever you have cash or you can dollar cost average making sure that your investments are happening at consistent frequencies. And this will allow you to get or to purchase stock at various price points throughout the year. So, as you guys know, the stock market is doing this all year long, right? But if you have it consistently going and you don't have to think about it, your investments will automatically be happening. You'll look up, you're like, "Oh my gosh, I went from having a fraction of a share to now I have..." tens or hundreds of shares in my portfolio. So, that's one way to make money with stocks by building your wealth portfolio and allowing that portfolio to grow over time and then boosting it even quicker with the strategy of dollar cost averaging. The next way is dividends. Now, one of the cool things about doing this process or this kind of strategy of dollar cost averaging and having your investments going in over time, setting it and forgetting it and not having to think about it, The lazy way to start investing. Ain't nothing wrong with being lazy, right? When it comes to building wealth. But the other way is with dividends. So, you could also make money when a company decides they want to share in their profits with you. Now, this is in addition to when the value of the stock goes up, right? So, dividends is literally a company's a way of saying, "Hey, we had some extra profits and we want to share in those dividends with our shareholders. These dividends can be paid monthly, they can be paid quarterly, they could be paid annually, or sometimes they could just be paid whenever a company decides they want to declare a dividend. So it may not necessarily be a consistent frequency like some of the other companies. So a company, for example, that pays quarterly is Apple. Apple pays their dividends quarterly. There is a REIT, which is short for real estate investment trust, Their ticker symbol is— it's called Realty Income. Their ticker symbol is the letter O. They actually pay their dividends every month, okay? So, as you can see, there's so many different types of frequencies that you can get your dividend payments. But these dividend payments literally come and automatically get deposited straight into your brokerage account. And you can have it set to just sit in cash or you can have it set to reinvest and purchase more stocks, okay? So, that's another way. You can build your wealth portfolio, you can dollar cost average, have those investments sitting in there. You can make money as the value of the stock goes up. And then you also can receive dividend payments whatever frequency they decide to give them out as well. So, that's literally 2 ways that you can make money in the stock market and off of stocks. The last way is by actually trading them. Now, there's multiple ways that you can trade stocks. You can trade stocks by actually just trading the stocks, right? So, purchasing the stock at one price, selling it at another, or shorting them which is doing the opposite, right? A little bit more advanced. We'll talk about that another time. But let's say if you purchased a stock for $10 and then on that same day or a couple days later, it goes from $10 to $15, you could sell it, right? And that $5 difference is what we would call your profit. Now, that's just if you had 1 stock. Imagine if you had 1,000 stocks, right? That could be $5,000, etc., etc. And that is how day traders such as myself make money by trading stocks, right? So, that's another way that you can make money with stocks. You can also trade options on the stocks. And this is a little bit more intricate and we'll have another video on this. But you can also trade options. And options are essentially contracts. So, you can purchase option contracts on these stocks as well, okay? And that is another way that you can make money not only when the stocks go up but also when the stocks go down. Because options have what we call calls and puts. And they allow you to make money on both sides, okay? You just have to know which side that you need to be on. So, just to recap some of the ways that you can make money with stocks because it's not just one way. You can make money obviously that one way when the value of the stock goes up by building your wealth portfolio. You can use one of my favorite strategies called dollar cost averaging to build that portfolio quicker in the laziest way possible without even having to think about it. A true set it and forget it option to build that portfolio. You also can receive dividends. Receive dividends from the stocks when they make— when they decide to pay a dividend. And many of these companies believe it or not, already have a dividend schedule set where they're like, hey, the dividend is going to come every quarter, etc., etc. And you know exactly when those dividend payments are going to arrive, okay? And then last but certainly not least is trading them. You can trade the individual stocks, you can trade mutual funds, you can trade ETFs, you can also trade options, right? Option contracts on the stocks as well. And that allows you to make money when the stocks go up And down. So, as you can see, there are way more ways to make money with stocks outside of just when the value goes up. So, hopefully now you'll take some time and learn and dig in and learn more about all the different possibilities that there are. And as you can see, a lot of these strategies especially if you start implementing all of them is going to help you reach all of your financial goals a lot quicker. Hopefully you enjoyed this video. If so, please tell a friend. Share it, hit the like button, subscribe, and I'll see you soon.