My collection of tools, services, and information I use to help grow my portfolio of Passive Income Generators.
My Passive Income Generator Resources
This page is a simple resource page, a one-stop shop for some services that have helped me grow my Passive Income Generators(PIGs) over the years.
I am slowly on the road to getting rich, and the first battle is finding tools/pages/services that help me continue to grow faster. Here are some of the help items I found along the way:
High Yield Savings Accounts
High-yield Savings Accounts (HYSAs) are temporary places for cash that might be needed quickly(Fast Cash). I do not use my HYSA to pay bills out of, that is, for my regular checking account, but as a holding place for cash.
Planned car repairs, liquid emergency cash(first couple of weeks of my 6 Month Emergency Fund), even ‘found’ cash being held till assigned to some investment vehicle (T-Bills, stocks, mutual funds, etc.)
#1 SoFi: Online Banking
I use SoFi Banking for my personal banking accounts. I have a checking account earning interest, and because I have direct deposit going to my savings account, the interest is increased to that of a High Yield Savings Account.
I keep only enough money in my checking account to pay bills. My checking account, although interest-bearing, is only used for transactions; there is no need to hold money there.
The rest of the money is in my savings account and is either part of my Emergency Fund(first couple of weeks’ account), waiting to be assigned for a scheduled repair, or soon moved into an investment.
Some would say it’s pointless to worry about having a HYSA since I try not to keep cash, but I see a decent amount of monthly interest for small amounts I own.
Check Out SoFi Banking.
#2 Ally Online Banking
Now, Ally Banking might have been my personal banking account, but I found SoFi first. However, I do use my Ally bank account to separate the money made by my online adventures(blogging, YouTube, etc.).
I have both checking and savings accounts with Ally Banking; both are interest-bearing, but I have to admit that I could not find the checking account’s interest rate.
However, as I’ve mentioned before, my goal is to keep only enough money in my checking account to pay bills; the rest is parked into savings until it’s assigned or until I can figure out how to make the money work harder for me. However, while parked, Ally does offer a good savings rate. Check them out.
Check Out Alley Banking.
Financial Calculators
I found these financial calculators helpful in my journey to financial freedom:
A T-Bill Yield Calculator.
I use a simple tool to calculate a T-bill yield so I can compare apples-to-apples returns to my other passive income generators. I found T-bill and chill to be safe approaches during a turbulent stock market and when interest rates are high.
My Tool: How To Calculate A T-Bill Yield
Full-Service Investment Brokerages
Treasury and Other Investment Bonds
Stock Options Information
Created a simple FAQ Post: What Is A Wheel Strategy but here is the What Is A Wheel Strategy? PDF.
 Myself with an interesting Bull Sculpture. Notice: No Lambo’s. :/ | Hi I’m Tom, A Blogger And A PIG Farmer. PIG Farmer as in I grow Passive Income Generators(PIG’s). I’ve been playing with stocks, mutual funds, and options for decades, as well as always working on my side hustle stacks. Unlike what you read online, I’ve yet to find a way to get rich quickly. Get Rich Quick isn’t happening for me. My journey has been long and continues. I hope to have so many PIGs I can stop working at my current job and volunteer as a medical worker overseas. Still waiting, but getting there. I still am a family man, and while on this Journey of Growing PIGs. I wanted to share my adventures(ups and downs), hoping you will contribute with your feedback and comments. Fun Fact: In my spare time, I am a Band-Dad! |