What Nipsey Hussle Taught Us About the Hustle - 3 Ways to Earn Money On a Low Fixed Income
Nipsey Hussle was a legend, point blank period. His story, a familiar one - a young gang-banger from the streets of Crenshaw, who changed his narrative to become an entrepreneur, and a successful rap mogul. His hustle is well respected as he made it out the hood, came back, and educated millions of others on how they can do the same. This is something a lot of celebrities fail to do for many reasons, one being the very reason Nipsey lost his life. Nevertheless, the impact he had on his community speaks for itself.
As a person of colour, he was keen in educating his people on the importance of investing in appreciating assets. The most common of these is buying and renting real estate. But if you're like me, on a fixed low income, the idea of buying real estate may be far fetched. Or is it?
There are a tons of ways to get on your grind, the legal way, with the goal of one day owning your own asset. With that goal in mind, here are 3 things you can start today to increase your wealth!
1) Take Advantage of Investment Assets at Your Local Bank
You wouldn't believe the amount of times I have gotten a dumbfounded look after asking my fellow brothers and sisters, "How are your mutual funds performing?". Hopefully, you don't have the same look. Without boring you too much, mutual funds are a collection of bonds and stocks of varying risks, which a person can invest in at a local bank. The idea is that the money you invest in mutual funds is used to purchase various stocks, bonds, and securities in order to gain income (or in some cases losses) for yourself. Compared to a saving account, there is risk associated with investing in mutual funds and does not shy in rewarding you big for taking such risks. With the right fund, risk level, and a progressing economy, you could turnover your money at a much faster rate than if you placed your money in a savings account. Now that is what I call making your money work for you.
2) Earn Money as a Freelancer
This is by far the easiest way to earn income. All you need is a talent, a method of using that talent to serve people, a platform to advertise your talent and voila, you are now a freelancer! With the power of Youtube and Google, anyone can learn a talent and put it to good use. The most successful freelancers are those that master their craft and study the in and outs of their industry. There is no limit as to how far you can take your talents.
3) Start an E-commerce Website
There is a growing trend of selling goods online and you better believe the hype! E-commerce is the sale of goods directly to customers, typically with the use of an online shop. T-shirts with designs are a very common product of e-commerce shops because they are easy to make and affordable. Best of all, they require little to no money to make and they can be customized to serve a specific group of people. Here is a typical example of a T-shirt shop that sells culturally inspired apparel to empower people of color.
There are many platforms to sell your products and receive money including Shopify, BigCartel, WooCommerce, Etsy, Ebay, and the list goes on. Each of course has it's own pros and cons but they all share the same motive - helping you sell a product and earn income from potentially, billions of people.
Hopefully this has sparked some ideas to invest, the right way, and grow your wealth. Hussle represented something positive for his community and encouraged everyone to be independent. I hope his legacy will inspire you to hustle for your dreams and live the life you were meant to.
Which of these strategies do you plan on implementing today to grow your wealth? Let me know in the comments below.