Discover more from The Introvert Entrepreneur
TIE #065: How to Make $100,000 with Rakuten + American Express - July 2024
Watch me show you how to create 6 figures out of thin air (even if it takes a long time)
Apparently you hate money. If you didn’t, you’d be using Rakuten every time you shop on websites like Walmart and Target to save money.
They have paid me over $13,943 for things I was already going to buy for my one-person business:
They are also the reason this post is free to read. Sign up here and get $30 for free after your first use.
Rakuten isn’t just a newsletter sponsor, they are an important part of my one-person business that I’ve used for years.
The goal of this series is to hit $100,000 in a brokerage account as a byproduct of simply spending money.
It works like this:
Spend money on products that I sell with my Amazon + LEGO investing business
Collect credit card points and Rakuten cash back while doing so
Transfer to brokerage account
Watch the balance grow
By leveraging both Rakuten and Credit Cards, I believe you can rack up six figures over a multi-year period.
What you are reading today is my attempt at proving this.
(Even if I fail or take way too long to accomplish this, it is all free money so who cares)
You can read the last post here:
To get started, let’s take a look at our updated Rakuten balance:
Total Unpaid Points: 38,255
Cash Value: $420.81 (monthly gain of $103.74)
Once again, we gained about $100 over the last month because I don’t spend a ton of money with them outside of Q4.
I would love to find a way to increase this year round, but I don’t believe the effort is worth the reward.
My freedom is priceless to me.
If there is an efficient way of making this happen though, I will give it a try.
(I just don’t know of one)
Here is how our Amex Points balance is looking:
Total Rewards Points: 6,375
Cash Value: $70.13 (up from $3.20)
Small gain here that has not yet been transferred to the Schwab account.
I plan on opening a new American Express card later this year for another sign up bonus.
Here is how the brokerage account is looking:
Total Value: $5,313.02 (-$640.40)
Total Cash Value (all of the above): $5,803.96 (-$469.73)
Yes, that’s right.
The account lost value over the last month.
The ETF I have the money invested in is a bit of a contrarian trade.
I believe it has more potential than the overall market does over the next 3-5 years.
For that reason, I am willing to take small losses early on.
(Do not be an idiot like me, put your money in safer places)
If you haven’t already figured it out, this journey isn’t just about earning money via credit card rewards and Rakuten.
It’s about putting that money to work after you’ve earned it.
(I haven’t done a great job of that thus far, but we are still extremely early)
That is what is going to take us to $100,000.
I expect us to eclipse $10,000 before the end of the year.
Sit tight and enjoy the ride.
If you have a question leave it below and I’ll get back to you ASAP.
When you are ready, there is one way I can help you:
Join 600+ people in becoming a paid subscriber to this newsletter
In doing so, you get access to:
My private mentorship group on Discord (this used to be $329)
My LEGO Investing Mastery Guide (this used to be $169)
My Textbook Flipping Mastery Guide (this used to be $169)
Buy/Sell alerts for LEGO (these will make you money)
These resources will show you how make your first $1,000 on the internet using the same methods I used to escape the rat race: