Is it possible to set up a mutual fund to gain income on a monthly basis?

What you're looking for is a monthly dividend...you will have more success looking at REIT's, Trusts. or closed-end funds.
I think you can investigate " dividend investing" at www.investor village....type "dividendinvesting" into the "symbol" box and it should take you to some info.

mutual fund suck to make monthly income.
YOU may want to get in to day trading you will have more control.you should have at least $20,000 to start making good enough money to live on.

Of course, but you'd have to put in a rather large sum to begin.

You can set the fund up to pay you either a set amount or a percentage every month. Your tax hit may be very high however. Talk with your broker before doing this but if it works, do it.

You can buy MF paying dividends monthly, the problem is their low yield. The managers expect fabulous salaries and bonuses and you pay for them.

Better to buy a number of individual shares over time, aiming for a yield of about 4 - 5%. This is not too much below bank deposits and will grow over time. Of course, property is best of all, if you have the money.

yet again someone says to start day trading , ugh

you can have the mutual fund pay you payments pretty much however you want, or you could get in a mortgage backed fund that pays every month, but its better to just join a good fund and be happy, dont day trade and gamble the money away

you can join an income/dividend fund that specialized in a set income

Depending on your age and how much u have to invest, an annuity might be the right choice.

An annuity by definition is a stream of payments over time.

Here are the symbols of some that pay monthly distributions.

GIM, PHT, GHI

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　　Investment Account 　　Invest Money 　　Invest in Gold 　　Invest Fund 　　Income Fund 　　HYIP 　　High Yield 　　Hedge Fund

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