How to Make More Money This Year

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Your Lattes Aren’t The Problem. It’s Time to Make More Money.

It happens like clockwork.

Every year around this time your inbox starts to get inundated with advice from the so-called financial “gurus” telling you that if you want to improve your financial like you need to do things like:

Stop going out to eat for lunch. Brown bag it!

Turn the lights off when you leave the room. Save $1.50 per month!

Cut out your daily latte!

Now, I know they mean well, bless their little hearts. And while they can be useful to you if you’re in a real cash crunch, those ideas are mostly just rearranging the chairs on the sinking ship. There’s a definite limit to how much you can cut your spending.

Plus, when people give you advice like that what they inherently seem to be saying is,

“I don’t think you can do any better than you already are, so your only option is to cut out all of the enjoyment in your life if you ever hope to accumulate any money.”

Sorry, but I just don’t subscribe to that theory.

I, on the other hand, believe that if you focus on living UP to your potential, you’ll never have to worry about living WITHIN your means. (<- Tweet This)

If there’s a certain type of life that you have envisioned for yourself, your job is to figure out how to generate the income that will afford you that lifestyle.

See, I’ve seen many people stay in jobs where they are unfulfilled and underpaid simply because they feel as though their current situation is “safer” than looking for a new job or starting a business.

However, with technology replacing workers everyday (if a robot can do your job, it soon will) and companies eliminating positions at a breakneck pace, the only “safe” career strategy is to be relentlessly focused on maximizing your income and accumulating multiple streams of revenue.

Companies do not exist to make their employees wealthy. You much take the financial well-being of yourself and your family into your own hands.

Now for the good news!

The good thing for you is that while you may find it nearly impossible to save the amount of money you desire to save in your current situation, it’s never been easier in the history of this planet to make more money without needing someone’s permission.

Thanks to Al Gore’s invention of the Internet, the doors to more income have been blown open wide enough for you to drive a truck through…or your new 7 series, whatever floats your boat.

How to Make More Money in 2016

A few days ago, I landed my very first appearance on the Fox network and I was honored to be able to use that platform to provide some of my best ideas on how to make more money in the new year.

Here’s an excerpt:

1. The Sharing Economy

Seriously, if you need extra money and you have a vehicle, why wouldn’t you drive for Uber or Lyft?

2. Freelance

If you have an MBA you can find independent consulting gigs on HourlyNerd.com

3. Teach/Tutor

Forbes thinks online learning is going to be a $100 billion+ industry in 2016. If you have a useful skill, a computer and an internet connection, part of that pie could be yours…

But wait, there’s more!

Check out the video of my recent appearance on Fox’s #GoodDayPhiladelphia to get even more tips and resources on dramatically increasing your income this year.

Most people that I come into contact with, even those with a “high salary,” just aren’t being paid what they’re worth. Fortunately, that is not a situation that you have to stand for any longer.

If you’re going to make any resolutions this year, I’d suggest that you resolve to improve your financial life by making more money.

A speed boat will help your reach the island much faster than a neatly aligned deck chair on the Titanic.

Two Women Rob Knicks’ Derrick Williams of $750k in Jewelry. Here’s My Take.

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Never trust a big butt and a smile – Bell, Biv, Devoe

Once again the timeless advice of our favorite R&B acts of yesteryear has proven its truthfulness.

Look, athletes and entertainers are targets. Young ones. Old ones. Middle aged ones. It doesn’t matter. If you’re good at sports at any level, believe me, there is someone in the shadows waiting to take advantage of you one way or another.

In today’s example, look no further than former 2nd overall pick in the 2011 NBA Draft, and current forward for the NY Knicks, Derrick Williams. In a bizarre but predictable weekend event, Mr. Williams was robbed of $750,000 (!) in jewelry after befriending two women at a club and taking them back to his place.

Now, he’s obviously a target because he’s a young, highly paid athlete in one of the largest sports markets in the world. This we already know.

Yet, he absolutely did himself no favors by consistently posting pictures on Instagram of himself with his prized possessions:

 

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That just shows you the gift and the curse of social media. Fans can get to know you and admire your success. Thieves can follow your moves and plot against you. Until something happens, you can never really be sure who’s who.

Certainly, one could question the wisdom of taking two young women whom you just met, back to the place that you call home. For many, many reasons this could have ended up bad, but we’ll save that discussion for another day.

Sure, it would be reasonable to question the necessity of owning $750,000 in jewelry. However, perhaps the other areas of his financial life are secure and he chooses to spend his discretionary funds on jewelry. Cool, do your thing.

What’s unacceptable, though, is to have that amount of money in expensive possessions stored in a place where they could easily be taken, particularly if you are going to have unfamiliar individuals running around your house. To be clear, a Louis Vuitton jewelry case in the back of a closet isn’t a secure location.

So students, class is in session; please take notes. Here’s my advice on making sure you are not the next victim of the bling ring:

1) Avoid all of the shameless social media posts specifically addressing your material items. Unless you’re getting paid for the “commercial,” you’re promoting someone else’s product for free and giving everyone else a reason to hate you. Not everyone is happy because you’re “winning.”

2) Make sure you have digital copies of the appraisals for all of your jewelry stored somewhere in the cloud.

3) Buy enough insurance to make sure that all of your items are covered.  Don’t assume that your homeowners or renter’s insurance will cover the full amount of your holdings.

4) If you’re going to purchase a significant amount of jewelry, for goodness sake buy a safe with a combination that only you know and anchor it to the floor. It’s not that hard. You can purchase a perfectly good one on Amazon and it will be to you in two days with Amazon Prime.

5) Don’t get lulled into a false sense of security by a pretty face and a short skirt at the club. When in doubt, please refer to Bell Biv Devoe above.

6) Lest you think I’m only talking about women seeing you as a target, you must understand that men see you as a target too. But instead of a skirt, they’ll have on suits and call themselves, agents, financial advisors, attorneys, car dealers, jewelers, casino builders, movie producers and so on. You must always have your guard up with them as well. As Mark Jackson would say, “Hand down, man down.”

I get it. Athletes like jewelry. It’s a thing. Especially in your 20s.

However, you must at least treat your jewels, your cash and your hard work with some respect. Seriously.

Whomever decides to steal your jewels (most likely) weren’t with you shooting in the gym.

I’m sure you didn’t put in all of those hours getting to the top level of your profession just to allow someone to take advantage of you.

So your lesson for today is keep your guard up, secure your stuff and listen to 90s R&B. There’s tons of valuable nuggets of wisdom there.

Rob Wilson is a celebrity financial advisor with a practice geared towards professional athletes and entertainers.  He’s also a frequent contributor the CNN, CBS, NBC and various other media outlets.

For more financial advice, be sure to subscribe here: http://www.robwilson.tv/vip

Former Highest Paid NFL Running Back Clinton Portis Files for Bankruptcy. Here’s What You Should Learn From His Mistakes.

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As a high draft pick, or a player with a big second contract, it’s easy to believe that you won’t be one of the guys that goes broke because you’ll be making “so much money.”

Yet, in reality, it’s the guys who make the most who have the highest probability of going flat broke.  The bigger they are the harder they fall.

Take former Washington Redskins running back, Clinton Portis, for example.

It’s been reported that Mr. Portis filed for bankruptcy last week despite making more than $40 million during his playing career including a contract that made  him the highest paid running back in the NFL at the time.

Of particular note is the $8 million (!) that he lost by investing in a now defunct Alabama casino, $2 million (!) that he lost to the now defunct Jade Private Wealth Management, nearly $300k owed to the MGM Grand, and $500,000 he owes to former sideline reporter and current Entertainment Tonight correspondent Nichelle Turner (what?).

In fact, his list of creditors looks like a screenshot from the ESPN 30-fo-30 documentary Broke, or an excerpt from the script of Dwayne “The Rock” Johnson’s show “Ballers” on HBO (which I should totally be cast for during the second season, just saying).

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As a celebrity financial advisor, what would my advice be to athletes looking to avoid a similar fate?

a) Don’t invest in businesses, especially with 7 figures of your hard earned money, that you don’t understand until you’re done playing and have the time to become educated on your potential ventures.

b) Have faith, but don’t trust. This is the title of an entire chapter in my upcoming book on financial management for athletes. Have faith in your financial adviser, but don’t trust them. Ever. Make sure that you have systems in place so that trust never becomes an issue. If you’d like to learn how to do this, contact me, I’ll teach you how.

c) Don’t buy property to live in with expenses so high that it will be difficult to keep up with them once you’re done playing.

d) Have a plan for how you’re going to make money when you’re done playing, aside from trying to hit a home run with a casino business. If you don’t have a plan on living and working with purpose when you retire at such a young age, you’ll have too much time on your hands and the money will start slipping through your fingers.

e) Apply to work with me. If you seem like a good fit, I’d like to help.

Rob Wilson is a financial advisor with a practice geared towards professional athletes and entertainers.  He’s also a frequent contributor the CNN, CBS, NBC and various other media outlets.

For more financial advice, be sure to subscribe here: http://www.robwilson.tv/vip

 

Smart Financial Gifts for Christmas | Rob on the Tom Joyner Morning Show

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Want to give someone a gift that truly keeps on giving? Check out my segment on the nationally syndicated Tom Joyner Morning Show for my thoughts on smart financial gifts for the holidays.

Gifts For Children
One Share Of Stock – Beautiful framed stock certificate from popular companies like Apple, Disney, etc.
giveashare.com

Gift Cards for Stocks – Just like restaurant or retail gift cards but for the purchase of stock in your favorite companies  Sparkgift.com or Stockpile.com

Gifts For Friends and Family
Karma Wi-Fi Hotspot – Help your friends save on their mobile bill with this pay-as-you go hotspot Find it at yourkarma.com

Pay For Advice – Great gifts are often something one would not buy for themselves. This could be financial planning, personal training or maybe they have two left feet and you want to get them dance lessons.

Gifts For Yourself
Fund Your Retirement/Investment Account – Instead of accumulating more “stuff” how about planning for your future?

Search for unclaimed money or property – Wouldn’t it be nice to “find” a few bucks that you are entitled to?
unclaimed.org or missingmoney.com

Enjoyed this post? Be sure to subscribe here for more great info -> http://www.robwilson.tv/vip

The Establishment is Scared S#!tless that Student Athletes Now Recognize Their Power

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Attention student athletes everywhere. I hope you’re paying attention to what is going on in Missouri. If you haven’t been, here’s a quick recap.

After a series of racist incidents on the University of Missouri campus, more than 30 black players banded together and threatened not to practice or play until University President Tim Wolfe resigned.

In the modern era of college athletics this was an unprecedented show of force.

In what I can only imagine was a scene reminiscent of when Peter Parker discovers his super powers, these student athletes came to the realization that by way of generating many millions of dollars for the university they had power greater than they ever imagined.

In addition to lost ticket, concession, parking and apparel sales the university stood to be fined $1 million if they did not play their next scheduled game against BYU. Those are the types of numbers that get people’s attention.

And it worked. Tim Wolfe resigned and the University of Missouri football players showed the world that where there is money there is power and if you’re a football team that generates million for the university, that power lies with you.

Well, apparently the white men of Missouri were appalled and frightened at the thought of young black men beginning to wield the sword that had been handed to them.

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It’s no fun for the trainer when the circus elephant finally realizes that he can obliterate him any time he feels like it.

So, in an effort to pressure and intimidate these young black student athletes from having the audacity question authority and use their power to bring about change, this guy…

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Republican Rep. Rick Brattin spent his taxpayer-funded time on putting forth a bill in the Missouri House of Representatives that would strip scholarships from any athlete who “calls, incites, supports or participates in any strike.

In a stunning addition to the bill, colleges would be required to fine coaching staff members who enable or encourage such student protests.

In other words, “You better keep your boys in check, or we’re coming for you too!”

The bill has since been withdrawn, but here’s what Rep. Brattin had to say”

“We cannot have the student body, or in this case the football team, going on strike and forcing out a school president. That cannot be allowed.”

I guess he doesn’t understand whom the president of this publicly funded university works for. Further, try paying the president’s salary when all of that juicy federal student loan money stops flowing in because students stop attending the school.

This, my friends, it what it looks like when fear grips the establishment. When they feel the control that they’ve always enjoyed slipping through their hands.

When they feel the dollars that once flowed so freely into their coffers being impeded by very individuals that generate them.
I said many times that the entire collegiate athletics system is a sham.

Athletes in the revenue producing sports pay for all of the non-revenue country club sports to exist.

Athletes in revenue producing sports get a watered down, useless elective filled education while the coach flies around in his private jet recruiting more free labor and makes $5 million per year.

It makes no sense and the athletes are starting to realize it.

I made it a point to suggest that the University of Kentucky basketball players use the massive platform of the college basketball championship to finally stop the travesty that is March Madness from generating billions of dollars for everyone but the athletes that play in the game.

Now you see why I suggested such action.

We can sit around, debate, discuss, write about, argue over, pontificate, express outrage and any number of other actions regarding the total unfair system of college athletics.

But, as we now see, it’s the actual pulling of the purse strings that gets not only attention, but also decisive action.

So student athletes, this is the film that you should study. This is the blueprint you should copy. This is the system you should look to emulate.

You have power beyond your wildest imagination.

What will you decide to use it for?

How to Build Your Financial Fantasy Team #MoneyMonday

 

Do You Need New Friends?

Financial life not quite where you want it to be? You might be able to find the answer why by looking at the company you keep.

Guys, there’s no such thing as a “self-made” millionaire. We all need assistance to build our empires.

Check out this video for tips on the 5 people you need in your corner and how to get them on your financial fantasy team.

QUESTION: If you could draft ANYONE to be on your financial fantasy team, WHO would you take with your first pick and WHY? (please leave comment below)

 


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The Kentucky Wildcats Should Refuse to Play in the Final Four. Here’s Why.

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The Kentucky Wildcats have the opportunity to become the first team since the 1976 Indiana Hoosiers to win the NCAA basketball championship as an undefeated team, and I believe they should squander it. On purpose. Here’s why.

The NCAA, which could very easily stand for Never Cared About Athletes, stands to make an estimated $700 million from the TV rights for broadcasting “March Madness” this year. NCAA President Mark Emmert will earn roughly $1.7 million in 2015.

Uber drivers will earn “surge pricing” fees by shuttling tons of spectators between tournament games and their hotels.

The guys selling beer in the arenas the games are played in will make a few bucks.

The players? Well, they’ll get a few pats on the back and a chance to say ‘Hi Mom’ with millions of people watching, but as far as cash goes, they won’t be receiving any of that.

The NCAA has stated over and over again that so-called “student-athletes” are amateurs and it would be “utterly unacceptable” to compensate them for their efforts.

This lack of compensation is precisely why the University of Kentucky basketball players should refuse to play in this year’s NCAA Basketball Tournament. They’re being exploited.

I felt the same way last year after UConn star Shabazz Napier admitted that there were “nights he went to bed starving,” even though his coach makes $2.8 million per year.

If that’s the case, why not do something about it?

Mr. Napier could have leveraged the amazing platform he had of playing in the national championship by refusing to play in the game on the league’s biggest night in an effort to bring awareness to the shameful financial practices of the NCAA.

Alas, he played the game, earned Tournament MVP honors, and we had to settle for his comments in the locker room and the ensuing blogs and articles that came about from those comments.

But what if he had refused to play? What if his teammates, in solidarity with him, also refused to play on college basketball’s biggest stage?

If there was no game played because the players decided to take a stand, together, it certainly would have gotten the attention of the people that matter most: the people who pay money to the NCAA.

Sponsors who paid to advertise during the game would have been irate. Fans would have demanded refunds for their tickets, and their travel expenses. The facility would have sued the NCAA for loss of revenue, after people left without buying enough $12 hot-dogs.

These brave players would have finally forced the NCAA to act by hitting it in the only place that matters, the bank account.

The young men would have finally proven to every other Division I basketball and football player where the power truly lies.

See, without the players the NCAA has no product. Without the product, there is no advertising. Without advertising there is no money. And without money the huge salaries for coaches, athletic directors and administrators, all of whom never make one basket or score one touchdown, vanish into thin air.

Extremely absurd situations require extreme measures. It would have been a wonderful sight to see.

But it didn’t happen.

Now, the Kentucky Wildcats, who also played in last year’s championship game against UConn, are the number 1 overall seed and prohibitive favorite the reach the title game again and win it all.

They are currently undefeated and it would be a giant feat for them to run the table and win the championship.

But what’s more important?

Should they look the other way while the machine keeps running on the backs of the players who are forced by the NCAA to sign away the right to any financial benefit from the skills they have worked most of their lives to develop?

Should they allow the NCAA to make millions of dollars from restaurant sponsors only to be told that they will become ineligible to play if someone treats them to a meal at said sponsor’s restaurant?

Should they continue to accept the fact that their coach has a $52 million contract with their school while some of their fellow players around the NCAA have been suspended for signing $25 autographs?

Without a doubt, the Kentucky players have squarely in front of them a once-in-a-lifetime opportunity to make history.

They can choose the play the game, or they can choose to change the game.

Either way, the ball is now firmly in their court.

March Money Madness is Back!

Are you sick of hearing about everyone else making money in the market?

Are you tired of earning .00000001 in your checking, savings or money market account?

It’s time you learned how to invest!

Just in time to help you, my March Money Madness Bracket Challenge is Back, the web’s most entertaining way to learn about the market!

It works just like the bracket for the college basketball tournament, but using stocks instead of basketball teams.

Why waste time filling out a college basketball bracket when you could play March Money Madness, learn something, and potentially win prizes?

Watch the video for more info and sign up today!

http://www.marchmoneymadness.com

Rob Wilson and 9 Year NFL Veteran Shawntae Spencer Discuss Athletes and Money

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In part one of our interview at the NBC Pittsburgh studio with my client, former Pitt Panthers, San Francisco 49ers and Oakland Raiders cornerback Shawntae Spencer, we discuss professional athletes and the challenges they have with their money.

Here are some of his thoughts:

Going pro isn’t the end all be all

While it’s true that a few fortunate players will never even have to consider working again (Think Peyton Manning, LeBron James, etc.) most players aren’t going to make “good-for-the-rest-of-your-life-money.”

As Shawntae put it, for many players the money you make in the league just gives you a great head start on life.

Begin with the end in mind

Even though Shawntae was blessed to play 9 years in the NFL, he began thinking, almost immediately, about what he wanted to do once he was done playing the game.

He is one of the few players that take advantage of the programs that the NFL provides in the offseason to help educate active and retired players on various career paths.  He participated at excellent programs at Stanford and Notre Dame, and the expenses were picked up by the NFL.