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Did you know the Declaration of Independence is rumored to have been drafted on hemp paper by Thomas Jefferson?
Amazingly, hemp first arrived in North America back in 1606, and it played a pivotal role in the economy for many centuries to come – that is until it was made illegal in 1970 by the Controlled Substances Act.
But here’s the good news – hemp is back on the scene once again, and it’s making real waves this time around. The incredibly versatile plant has the power to disrupt a myriad of different industries, and it looks like things are just starting to heat up. This brings about various investment opportunities and a whole host of ways to make money from the new hype train.
First of all, let’s clear a few things up. Unbeknownst to most people, hemp is an absolute wonder plant. Thought to be the first domestically cultivated plant, it has a staggering number of use cases and is incredibly efficient at producing a wide variety of modern-day products.
In many ways, hemp is a viable answer to many of our sustainability issues across the world, such as deforestation, as it produces four times more paper per acre than trees. It even has potential use cases in the manufacturing sector as hemp fiber is roughly ten times stronger than steel. Some of the most common use cases of hemp include:
It begs the question, why don’t we use this stuff more?
Now, for those of you that aren’t aware, hemp is not synonymous with marijuana. While they are the same plant from the same species, there is one clear distinction between the two, and that’s their psychoactive components.
THC (Tetrahydrocannabinol) is the chemical compound found within cannabis plants that is responsible for making you feel “high.” With that in mind, a cannabis plant will only be considered hemp if it contains no more than 0.3% THC. The reason being is because hemp plants do not contain enough THC to give off a psychoactive experience. In other words, it will not alter your mind, and as such, it is not considered to be a drug.
This is an abundantly vital fact to keep in mind as this is the only reason hemp is federally legal and marijuana is not. Even though fifteen states have now legalized recreational marijuana, it remains illegal federally in the United States. This makes it extremely hard for marijuana businesses to operate as they must contend with heavy taxes and stringent laws that prevent the expansion of operations between states.
In many ways, hemp is a considerably safer alternative for people who want to invest into the cannabis industry, especially those who may be concerned about the lack of nationwide legality of marijuana in the U.S.
While the marijuana market does look like it is ready to take off, it’s still a precarious investment while it remains illegal under federal law.
In addition to this, as we stated earlier, hemp has a tonne of different use cases which means there will always be demand for hemp growers and manufacturers going forward, and this demand looks set to increase from here on out.
With that said, here are the main ways to make extra money by investing in hemp stocks:
For many years the hemp industry has been a magnet for speculative investors looking to make a quick buck on their investment. The excellent news for traders is that this speculation brings in a massive amount of volume, which means they are ripe for trading.
Day traders open and close positions on the stock market within the course of one day. The idea is to profit from the price fluctuations, and then once the day is done, you step away from your laptop with your earnings in your back pocket.
There are tons of hemp stocks you can day trade, ranging from penny stocks to the more prominent players in the field. Just do your research, refine your strategy, and make your profit!
Swing trading is similar to day trading in the fact that you hold open positions over a short period of time; however with this type of investing/trading, you usually hold your positions between a few days and a few months. The whole idea here is to benefit from significant price movements, or trends, that you observe and subsequently take advantage of.
Hemp stocks fluctuate in price for a whole variety of reasons, and in many cases, all it takes is one or two positive pieces of publicity, and the stock can spike massively. If you’re smart enough and time the market well, you can be on the right side of these swings and make huge profits.
Finally, the least “hands-on” approach to investing in hemp stocks is to enter into long-term positions in some of your favorite stocks. Rather than looking to get in and out quickly, the objective is to find great companies with solid fundamentals and a high likelihood of future growth.
Fortunately, there are plenty of companies that fit that bill in the hemp industry, so conduct some research and take your pick. Some of the biggest players in the sector include Charlotte’s Web, Canopy Growth Corporation, and Cronos Group.
Whatever route you decide to take, remember to always do your own research and never invest more than you can afford to lose. Good luck!
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You don’t have to travel too far on the internet before you find someone claiming to have made a fortune trading the stock market, but is this actually possible for the average joe? You’d be forgiven for being skeptical about the plausibility of making it as a day trader, and for many people, it seems like a pipe dream that is out of reach for those that don’t come from a financial background; however, that simply isn’t true.
Trading for a living is an entirely viable method of making money online. With a bit of practice and carefully controlled exposure to the markets, just about anyone can turn their hand to trading and make a consistent and reliable income.
First, it’s important to address the somewhat pessimistic statistics before moving onto the more complex stuff. If you’ve already done your research on the industry, you will have almost certainly come across stats such as; “95% of traders lose money” or “only 3.5% of traders are successful.”
While there is little empirical evidence to back these statements up, they do seem to hold water when we look at the trading population as a whole. You see, most people try day trading without any real knowledge of the skills required to succeed. Moreover, the average trader tends to make the cardinal sin of overestimating their skills and underestimating the volatility and variance of the market.
The fact of the matter is that trading for a living is extremely difficult as you’re going to be competing with some of the biggest banks and financial investors in the world. That’s because trading the markets is, in many ways, a zero-sum game. In other words, for there to be a winner, there must be a loser.
This dog-eat-dog scenario does not allow much room for error, and as a result, if you want to succeed, you must study, hone your craft, seek guidance, and learn to master your emotions. It is certainly not impossible, but it does require a lot of hard work and dedication.
Day trading certainly isn’t for everyone. What might be considered a dream job for some might be a nightmare for others. It all depends on your appetite for risk and whether or not you have the emotional stability to deal with long losing streaks and unprofitable days/weeks/months. After all, there aren’t many jobs where you can go to work for a month and end up losing money. With that said, here are the main skills a day trader must have:
Whether you want to become a master at scalping, position, or swing trading, you need to have the ability to conduct quality research and solid market analysis. Your job as a trader is to research all of the available information pertaining to one particular stock and use that information to accurately determine its potential effect on the market.
The more apt you become at utilizing market information from charts, indicators, and patterns, the more successful you will be.
Every successful trader needs to have both patience and discipline in abundance. The reason for this is because day trading can actually be an incredibly boring job. You can sit in front of the screen searching for a trading opportunity for hours and still not find anything that is worth entering into.
Most traders have a specific set of criteria that a stock must fall into if they are to be deemed worthy of a trade. However, the real test comes in when the markets run-flat and there is very little volatility to take advantage of. Sometimes, this leads people to see things that aren’t really there, and they enter a trade out of border on rather than proper training and well thought out logic.
Remember, sometimes, the best trades are the ones you don’t make.
Most day traders are self-employed, which means they do not have a boss or a strict schedule to adhere to. This is the true definition of a double-edged sword.
If you’re the kind of person that finds it easy to self-motivate and create a good routine for yourself, then you may have no issue adjusting to this new way of life. However, many people fall into bad habits, and the time between work and leisure starts to become a little bit murky. This can lead to a lot of stress and, more often than not, leads to poor trading results.
The most important aspect of day trading for a living is being able to control your emotions. You must have the ability to step away from the screen when you feel as though you aren’t performing well and refrain from the temptation of chasing your losses.
The problem is, most people feel uncomfortable walking away from their screen while at a loss. Instead of taking the rest of the day off and calming down, they relentlessly chase their losses and try to enter more trades in an attempt to recoup from their previously failed trades. This is a bad idea, as you will almost certainly lose your discipline and enter into sub-optimal trades that fall outside of your regular trading strategy.
It may sound trivial, but emotional investing is one of the leading causes of financial losses in the stock market. If you think this is something you might struggle with, it’s not a bad idea to stay well away from the charts.
Unfortunately, there is no hard and fast rule about how much money you will make as a day trader. In general, your earning potential boils down to three main aspects:
Each person is different, and there is no real way of knowing how well you will do until you get out there and give it a try for yourself. However, before you head out there and risk your capital, it’s highly advised that you open a demo account and paper trade with your strategies first. Good luck!
The COVID-19 pandemic couldn’t have made it any clearer that all adults should have a will because death can strike at any moment with no warning. At the same time, adults are unprepared for such an unforeseen event as many believed the biggest misconception around wills is that it is reserved for those with sizable assets.
Quite the contrary is true as online wills have surged in popularity throughout 2020 and attracted young parents motivated to be responsible at a very attractive cost.
Most of the debate over who reigns supreme in the online will space pits RocketLawyer Vs Legal Zoom and both names enjoy tremendous reputations. This article will take a look at the two giants and briefly discuss other players in the space that potential customers should check out.
An online will, as the name implies, is simply a will that is prepared online. The best online will providers perfected the process so it can be completed within minutes.
Since a will is merely a document that outlines how a recently deceased individual’s possessions are divided up, it can just as easily be replicated over the internet. Online will providers simply present the user with a series of closed-ended questions that can be easily answered.
The will itself, whether it is created online or through an attorney, is not valid unless it satisfies local laws. Some states require a will to be signed in the presence of a witness while other states might require two witnesses.
If an individual passes away without a will, a state court will likely have the sole authority over how assets will be divided up. The consequences of this mean that someone’s estranged relative could end up receiving a lot of money while an individual’s favorite charity won’t see a penny.
According to at least one study, the online will market is expected to grow at a compounded annual growth rate of 35% from 2020 to 2026. At that time, the market for online wills will reach $41 billion.
RocketLawyer was founded by Charley Moore in 2008. Moore, a law graduate from UC Berkeley, practiced law and offered legal representation to high-tech companies when they were still in their startup phase.
While working with tech startups, Moore realized there is a path to leverage the internet and provide affordable legal services online. He founded RocketLawyer to do exactly that: provide online do-it-yourself legal services and access to documents like online wills.
RocketLawyer’s unique business and growth potential attracted the attention of notable investors, especially Google Ventures that invested $18.5 million into RocketLawyer in 2011.
LegalZoom is a much larger enterprise, although its products and services extend beyond just wills. LegalZoom was founded by Brian Liu and his beginning days as an entrepreneur resembles Moore’s story.
Liu worked in investment banking and specialized in initial public offering and M&A but he wanted to start his own business.
Along with three other entrepreneurs, the group of entrepreneurs looked to capitalize on the idea that the internet can help customers save a lot of money on legal documents, especially wills. Other legal documents that LegalZoom facilities include copyright registration and business formation documents.
LegalZoom surged in popularity over the years and also attracted the interest of major investors, such as Silicon Valley powerhouse Kleiner Perkins.
RocketLawyer’s main selling point is that an online will in 2021 should be completed in three simple steps.
The first step is building the will by answering simple questions that are needed to complete an online will. For example, it asks the name of your children and who will act as a legal guardian, who will inherit property, among others.
The second step consists of saving and downloading the document so it can be printed. The last step varies by region and must be signed according to local laws.
The online will company offers a free seven-day trial to its website and costs $39.99 a month afterward. This includes a 30-minute consultation with an attorney.
Legal Zoom offers consumers the choice of three online wills for a one-time fixed fee. The cheapest is the “Basic” will that costs $89 and offers a step-by-step guide for creating a simple will.
The second option, the “Comprehensive” package, costs $99 and includes legal advice for two weeks and the option to continue paying for legal advice at a cost of $14.99 a month.
Finally, the “Estate Plan Bundle” includes one year of legal advice for $179.
While not necessarily the cheapest, LegalZoom is perhaps the largest of its kind with a valuation of $2 billion. The company couldn’t have grown to become the behemoth it is without offering top-quality services and guaranteeing customers are satisfied with their important purchases.
EForms is relatively new to the online legal space but boasts very high reviews. The company offers a free seven-day trial so it would be possible for users to create a free will so long as they don’t forget to cancel within a week of joining.
The main drawback of eForms is it is not a law firm and doesn’t provide legal advice. For many, this is not necessarily a deal-breaker although lots of people love the option of paying a very small fee to speak with an in-house lawyer and discuss their concerns.
The online will maker offers an easy and straightforward process, including a step-by-step tutorial.
US Legal Forms sells its online wills via monthly subscription packages. There is no option to create an online will for a one-time fee and be done with it. Fortunately, US Legal Forms stands out among its competitors for offering among the best prices in the industry.
The “Basic” package at $8 a month offers unlimited access to tens of thousands of legal forms, including online wills. The pricier “Premium” package costs $15 and offers users an online PDF editor and fillable form builder and the ability to digitally sign documents through signNow.
As the name suggests, Trust & Will specializes in estate planning and three tiers of online wills for a fixed-fee. The basic option is “Guardian” ($39) and meant for parents to dictate who will look after their minor children.
The second option, “Will,” ($89) adds the option to list how someone’s assets will be distributed. Finally, the “Trust” ($399) option caters to those that have needs that extend beyond a simple or basic case.