Journal Entry: Marcus Randall-10/19/2024

Journal Entry

Something that doesn’t make since to me and never will is why the federal government goes through so much trouble to set restrictions on aspirations of legal enterprises that individuals try to create or run while incarcerated and upon release. Whatever it may be from stocks, real estate, business licensing, or schooling they try to make it impossible for felons to support themselves while living on the inside and when they are released. That’s why you must start thinking about what you can do and start taking the steps now to start moving in the direction of success because you are guaranteed to meet roadblocks. All I ever hear about is what I won’t be able to do when I get out. Personally it makes me think about how I can prove these people wrong. In one of the books I read, Richest Man In Babylon, he teaches you a lesson on how to make your gold multiply. This is a good book about a man that was obtaining passive income back when tablets where standard script. Once your money has kids then they are slaves to you that create more slaves to work for you. Parables from years ago still hold prevalent today as lessons in passive income for people. I currently produce passive income from stocks and rental property that I hope to improve upon when released. Real estate has been and seems to be the most profitable if you have patience. I have tried a lot of things out in the past, but I have been taking this time to study more on these two passive income strategies to see what I can do better or if I am missing out on opportunities within these fields. I’m open to book recommendations and have found a lot more knowledge through Random Walk Down Wall Street, How To Day Trade For a Living, How to Trade Options, Ultimate Day Trader, Intelligent Investor, Patient Capital, Warren Buffet 2-step Process, and more just on stocks. Some of the Real estate books I have read are Financial Freedom through Real Estate Investing, ABC’s of Real Estate investing, Loop Holes in Real Estate Investing, The Great Book of Tax-Liens and Deed Investing, How to Make Millions In Real Estate in 3 Years Starting With No Cash, Long Distance Real Estate Investing, How to Make Big Money With Real Estate, and more. These are just two ways to create passive income, but two that I enjoy and have been interested in for years. As long as I have the time I will continue to sharpen my knife so I can cut my own slice of cake when I get home.

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