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What kind of financial investment can I make that will yield an income of at least $1,500 per month? |
I have 30k in cash to invest and several other sources that I can tap into as well such as my home equity line and retirement plan. Please help. Any suggestions would be greatly appreciated. Do not tap into your retirement or HELOC. If you lost the money, you would be out your retirement and also owe money back on the HELOC. I would just open up a regular savings account with someone like Emigrant Direct or Ing. Both offer higher rates. I personally have had my money in Emigrant Direct for the last 2 years. You could also check out Suze Orman's site - she has some valuable info too. Perhaps you can find a 5% monthly bond or monthly CD, although they are rare. Unfortunately, with the $30M to get you to $1,500 a month, you would need a 60% return, which isn't likely. Your question is vague in that it doesn't specify the amounts and what other assets you have, and how long you will need this $1,500 income. Stock ticker RSF currently pays 23.5% annual dividends payable monthly. lol 60% return. U might as well flip a milllion sided coin and pick an asset, hoping that its the next apple or google Antoinette......it can be very simple, or it can get complicated and you lose everything....you can make $1000-$2000 a month by "writing-covered calls.." on certain stocks...however, you want to own a stock you understand (ie, do they make particle lasers or candy bars?).... Antoinette, you could get 4% monthly return 4% monthly of $30,000 is $1,200. You may invest $38,000 to make $1,500 per month. I invest part of my money in small businesses that yields an income of 6%-7% per month without any risk. If you need more info email me. I'll give you valuable advices. |
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