One method of making more money is having multiple streams of income. This means, income from more than one source. It can be your main job, combined with jobs on the side for cash. Maybe you combine your main job with blogging on the side, or rehabbing houses, foreclosures, 401k, pensions, Mutual Funds, etc. Combining these multiple streams ensures that you have a back up plan in case one fails, but also increases your overall yearly income.

Many of these are active, meaning you have to do something, some are passive, meaning the work is done for you. Going out and cutting lawns on the side is active, having your son do it and split the profits would be passive. (lol this is way uncool) Or, owning your own business and having staff that works for you. Although this last one becomes more active than passive in the long run. Another example is the Pre-Paid Legal company that I talk about under the Law Help section. I do not want to go into this one here, but know that passive income potentials with them are very lucrative.

Now let’s talk about Investing in the Stock Market. I will call this type a semi-passive income opportunity. Why do I call it “semi-passive”? Well, it does take some research, and it also takes some patience, but essentially all you are doing is buying or selling. You do not need to ever leave your house, or your computer chair for that matter, to trade stocks. There is no cold calling, no sales pitches, no MLM schemes, nothing. Only you, a computer, and a can of Pringles.

Investing money wisely has been something I have been interested for quite some time. However, I have yet to actually trade a real stock. What do I mean “real” stock? Well, to fully understand the whole Stock Market Game, I did just that, began trading virtually. Stock market simulation, or investing simulation is definitely the way to go if you are nervous about putting up your real money unwisely.

The market moves all over place, and does it daily. I have found that my original trading strategy had some flaws in it, thankfully I have not lost any real money… yet. The last few weeks I have been rethinking my trade strategies and I am now starting to see some profit (fake lol).

I must admit, there are a LOT of Stock Trade Simulators out there, and I tried many of them. Many Stock Brokers and eTrade companies offer virtual trading on their platforms, but usually you must open a real account first. That Sucks! Then there are countless sites that promise investing education and such, but are very difficult to use and navigate. One seemed promising, but then the site kept locking up on me. I just went back today and it STILL is locking up. Another one offers stock trading education for free, but you must be a registered teacher, otherwise they charge you.

Finally, FINALLY I found one that not only works, but is totally FREE as well. It is an actual program that you run on your computer, but they have a site to back it up as well. The name of this awesome place is called Realstockgame.com. It is very simple to use, only 3MB in size, and it will upload stocks and quotes right from the real NYSE source.(New York Stock Exchange) Making a investment portfolio is easy as well, you have up to 25 slots to use. They start you off with $500,000, but it is very easy to adjust that to a normal amount. I put mine at $2,000, which is probably the amount I will use to open a real account. The only drawback seems to be some sort of bug that doesn’t like you repeat buying a similar stock. Also, it doesn’t let you sell only a portion of your stocks, you must buy and sell your entire amount. Other than that, this is the best, and only truly functional stock market simulation game that I have yet to try.

So once I get up the nerve to actually start investing, what will I do next?

Day trading, long term investing, which will I choose? Quite simply, I will buy and/or sell whenever I feel that I have maximized my profits, or minimized my losses. (DOH) If a stock jumps 10 minutes after I buy it, I will sell it. If the day takes a tumble, then I will hold it as long as needed. Flexibility seems to be the key here, not putting all your eggs in one basket… pun intended.

There is no way that I will pay a broker to pick stocks, or buy and sell for me, I’ll do it myself. With that said, how do I know which firm to choose? Cheaper trade costs, or a well known company? Peer reviews, or personal experience? The balance I have found to be with Scottrade.com. Only $7 to trade, and no hidden costs. They also have free tickers and other useful tools. Some sites do charge less per trade, but then they get you with hidden fees, nit-picky costs, and they charge per tool you wish to use. Everywhere I go, nothing but good is said about Scottrade, so they are the ones I will go with. Also, they only require $500 to open an account which is very reasonable. To top things off, they have branch offices all over, and like ten near my house, a definite plus. Click Here!

So now I conclude this article with a word of caution. Just because you may do well in a simulation does not guarantee that you will succeed when you put your money where your mouth is. Common sense applies, although if you have read some of my “Stupid is” stories you might laugh at the term “common sense”. Be careful, and please let me know how you do, if you decide to try it.

-bryan j bailey