how to make money illegallyThere are all sorts of ways to make more money. I’ve detailed a bunch of ideas in this post as well as this one here. The overriding fact though of all of the ways I’ve listed in those 2 posts is that if you want to make significant money through these ventures, it will take you time. As with investing, risk and reward are related.

So what are some higher risk, higher reward ways to make money? Unfortunately, most of the ways to make big money quickly are all illegal. Looking to have some fun, I have created a list of how to make money illegally. Please note that the ideas listed below are for entertainment purposes only and you should not, under any circumstance, actually consider trying any of these out. With that said, let’s have some fun!

6 Ways To Make Money Illegally

Rob A Bank

This is a classic option. Get a ski mask and gun and you are pretty much set. Of course, you are pretty much guaranteed of getting caught too. There are just too many things that can go wrong that makes robbing a bank just not worth it.

To make it worth it, you would need to make a huge heist. But then you would have hundreds of cops and federal agents looking for you and living your life in hiding won’t be much fun.

Become A Drug Dealer

The higher up the food chain you are, the more money you stand to make. Of course, the higher up the food chain you go, the more heat is on you from the legal side too. As a street dealer, you can make a decent income, but your odds of getting shot and/or killed are pretty high too. Personally, that isn’t worth it to me.

Run Your Own Football Pool

This is a much safer option of the ones listed so far. You could just run a small pool and take a cut off of the top. If you want more money, you could become a real bookie and take bets on other sports as well.

While it sounds fun, combining money making with sports, if you lose you could be out a ton of money.

Re-sell Forever Stamps

This one is my favorite. Simply buy a bunch of Forever stamps and wait for the Post Office to increase the price. Then you can sell your stamps for a profit. Sounds great right? Three problems: first, you need to buy a ton of stamps to make a good profit, you then need to find buyers for all of these stamps. Lastly, it is completely illegal.

In my mind, if you had the thousands to buy the stamps in the first place, you wouldn’t need these ideas to make money illegally.

Count Cards Playing Blackjack

This one too is illegal. If you can become good at card counting, you could hit the tables and make some decent money. The problem with this option though is that most casinos are great at catching card counters. Plus, the house sets horrible odds so the payoff isn’t that great.

Drug Smuggler

The last option is to become a drug smuggler. This profession pays very well. Earn a couple thousand dollars for transporting a plane full of cocaine. Of course if you get caught, you are going to jail.

But even with the threat of prison, the money you could earn from smuggling drugs makes people do it. There are stories almost weekly of the state police pulling over a pickup truck that has a hidden compartment full of drugs.

The good news though is that if you are successful at smuggling, you have a re-occurring income stream as the drug kingpin will keep coming back to you to transport more drugs. The bad news though is that eventually, the odds will catch up to you and you will get caught.

Final Thots

I hope you enjoyed the fun look at illegal ways to make money. I am sure there are tons more, but these were the ones that interested me the most. If you want to make money (and stay out of jail), the old-fashioned route is the best: invest in yourself by getting a good job, live within your means, and invest for the long-term. Boring stuff I know, but it works.


how to increase assetsThere are two ways to increase one’s net worth: increase assets or decrease liabilities.  That is all there is to it.  It really is a simple equation in principle but very difficult in practice.  That is because we are conditioned by the media, our friends, and many other external influences to think that we need this or that such that when we spend our hard earned money on these items, we really aren’t doing anything to increase our net worth.

Why Track Net Worth?

Tracking your net worth gives one an idea of financial progress.  One number by itself may not mean much (unless your net worth is several million).  But being able to follow the trend can help you determine if you are improving your financial situation or not.

Now I am not one to track my net worth on a monthly basis since I don’t want to get caught up in the noise of fluctuations of asset values or debt totals that can occur in the short term.  But I do have times when I am forced to list out all of my assets and their values along with my total liabilities to determine my net worth.  Usually this is related to a business loan although in February of this year, it was for a different reason.

Well, I had to list out the information this past weekend and I am pleased to say that the net worth is up again.  I will probably write about it in more detail over at Cash Flow Mantra.  However, I did want to make a few comments regarding assets and liabilities.

Understanding Components of Net Worth

What is an Asset?

An asset is anything that you own which has value, although I prefer the interpretation that an asset is something that puts money into your pocket.  For now, I will go with the banking definition.  For me, my assets did increase mainly because I kept contributing to various savings vehicles such as retirement and college savings accounts.  Even though stocks have taken a hit recently, the overall value was up because of the increased contributions.  I also count the house, car, and some personal property as assets.

What is a Liability?

Typically, banks consider liabilities as debts and other obligations for one’s cash or assets.  I like the cash definition that a liability is anything that takes cash from your pocket.  So even though the house is an asset in the bank’s view, for me, it still takes a lot of cash out of the budget for such things as the mortgage, taxes, insurance, and maintenance.  It is clearly not very liquid and can’t readily be used to fund any sudden expenses.

I have also been trying to not add any debt and make extra payments to start paying off some credit card debt.  This is the main reason that I was able to increase my net worth since February.  I have been able to decrease my overall indebtedness.  Every time I make a payment and don’t use my credit cards, I am able to increase my net worth.  I am actually quite surprised by the amount of debt reduction in just these past 3 months.

Decreasing liabilities can be a great way to increase net worth.  The benefits are several:

  1. A decreased balance to available credit can increase a credit score
  2. The improved credit score might lead to improved interest rates on future borrowings
  3. Paying off debt is tax-free
  4. Return on investment when paying off debt is guaranteed
  5. Decreased debt service payments can improve monthly cash flow
  6. Decreased debt leads to less emotional and mental stress which is good for health

Obviously, I am feeling pretty good this morning knowing that I am heading in the right direction.  It is encouraging to see the results of the efforts that I have been making.

Final Thots

Do you track your net worth?  If not, I would encourage it.  It may be disappointing, but seeing where you are can only help you figure out where you need to go and how to get there.  I would also track it only every 6 months or so since there will be some good months and bad months.  I would hate for you to get bummed out by the bad and stop tracking it. You can click here for a free net worth template to download.