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Best way to invest/saving money market funds to earn extra income
What would be the best way to invest say $20,000 to earn an extra $100-$200 a month? Also is there any good Money market funds or a little higher savings accounts? If you had $20,000 to play with how would you try and accomplish this?
P.S i didnt know if this should be in the saloon or players talk it dont matter to me.
Buy stocks that offer dividends. Accumulate enough and you can make a good amount every quarter
more ideas?
If this is your goal then you should just buy silver and what for a crash to happen. As matter of fact you should be doing that anyways. Once it does he is spot on, that is how you become rich, think DRiPS. Just keep reinvesting those dividends.Originally Posted by freeVICK
*actually if your goal is to make a steady $100-200 a month on $20k then all you need is high-yield dividend. No reason to wait, vick's got it.
Last edited by brooks85; 01-30-15 at 10:56 PM.
Ok so about this dividend stocks.How much money would it take to make about $50 a month in dividends? also is there any you would reccomend that pay monthly?Most i see pay every 3 months?Also besides dividends what other options we got.
Buy a stock, then buy a put ITM about +20% of stock price and out in time about 9-12 months
then sell near/just OTM calls monthly.
Make sure first trade covers cost to get into trade
so there is zero or very little risk first trade.
You'll usually get up to 3% or so which is why $XOM is so popular and a good choice for you. 3% dividend plus they are down right now because of oil. You can rest assured knowing they will be back. $KO is just under 3% so another popular one. $DIS is only 1.25% but with their plan laid out for the next decade+ I'm confident their success will bring about more dividend increases.
PFF reinvest the dividends. Youre welcome.
You should invest in a gold fund with big cap and you should do well for the next 2-3 years.
i am curious about this.
where can i learn about these stocks and get insider tips?
Is there any daily reading you recommend? or do you just have to watch a lot of Fox News?
It's great to have dividends but the market is very high right now and it will probably have a correction in the next two or three years maybe before we never know. I think you should jump in at this moment for stocks with dividends.
That's why i suggest preferred stock (ETF's like PFF). They continue to pay high dividends like the underlying common but are less volatile like fixed income.
have any of you guys ever come across a stocks forum?
all this stuff is new to me but i would like to start investing in stocks
There are about 20 different ways to invest. Mainly swing trading, day trading and investing. And a plethora of books on it. You have to figure out what you want to do first. I personally swing trade on technicals. Tried fundamentals, but wasn't for me.
These are all solid posts. They represent the idea that, like there are as many ways to handicap as there are handicappers, there are many ways to invest.
Brooks hit one of the most important points. You absolutely must set a defined goal, not only with a time frame, like Brooks points out, but also defining a risk tolerance. This guides you to certain strategies and is extremely important.
You’ve clearly already set a goal; there are just other questions to be answered in order to not only reach that goal, but to decide how to reach that goal.
The other key is to get educated. Become fully informed on many strategies, but especially the one you choose. You must know what you are doing or you will not reach your goals. Everything from bad timing to fees will attack you and you must know how to defend yourself. Don’t be afraid to diversify, if appropriate.
Not unlike handicapping the right kind of experience brings wisdom to the trade. And there is some education, depending on the strategy, that you simply have to learn the hard way.
Good Luck
Some good advice here. But the question is how old are you, is the 20k cash you have to play with or you need to invest. Are you look long term, short term? What kind of income you earn, what kind of job security, etc....do you have *********** debt, or loans, what are the interest rates, etc
It all depends on your situation and how much you know. I always believe the best investment is your mind and take courses and seminars to educate yourself. You can learn how to invest in stocks, day trade, learn to invest in real estate and properties. Learn how to buy and sell small businesses, how to start a business etc. This way instead of a small return, you can turn that 20k into big dollars. Lots of opportunities out there just have to seek them.
I like this post.
Seeking Alpha
Investing.com
Good trading/ investing info
Investopedia.com
Last edited by Slanina; 02-04-15 at 04:53 PM.
Look up stocks that pay the most dividends
Purchase stock
Set up dividends to automatically reinvest
Do nothing, sell in 30 years for big profit
Buy good companies not shit ones
buy stocks that typically go up, not down, you never know where the bottom will be
dont under estimate how a bad ceo can hurt a stock
if you buy and immediately lose a decent amount, don't be afraid to sell and take a hit, do not double down
long term holds are great and save on your earnings
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