Income producing investments (other then real estate); can I get some advice? Anybody know of any good ones?..

... If so, with what company? Monthly compounding interest, yes or no? I need help cause I am totally confused by what I have read about income-producing investments on some of the biggest investment firm websites. I would personally like to invest in one that produces interest on a monthly basis, which can be automatically re-invested, which in effect would compound itself- do ya know what I'm saying! Please help! I need to do something here to make more $$$ in the "08".

... If so, with what company? Monthly compounding interest, yes or no? I need help cause I am totally confused by what I have read about income-producing investments on some of the biggest investment firm websites. I would personally like to invest in one that produces interest on a monthly basis, which can be automatically re-invested, which in effect would compound itself- do ya know what I'm saying! Eventually, I would like to start using this monthly intrest to live on. Please help! I need to do something here to make more $$$ in the "08".
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Similar to a previous response, your best bet probably isn't an income security (or securities) at all. If you are going to be reinvesting the dividends/income, you are still paying taxes on the distributions, whereas a mutual fund, index, or ETF focuses more on growth stocks would typically have less distributions. You should come out ahead in with less distributions if you aren't looking to use them.

there are multiple classes of income trusts that trade like securities -- and the time to buy them is when interest rates are high and commodity prices low -- which was around 10 years ago.

in my experience, other types of monthly income producing ventures that do not involve real estate are fraught with scams. not all are scams, and waaay toooo many are.

and i know of no honest opportunities that offer re-investment into such a vehicle.

If you are reinvesting interest you are not really seeking income but growth. Invest in stock mutual funds. Over a long period of time the growth from a stock mutual fund will far outpass reinvested interest.

CANADIAN OIL & GAS TRUSTS ARE WELL WORTH YOUR REVIEW. THEY ARE CURRENTLY AT EXCELLENT PRICE LEVELS YIELDING NET OF CANADIAN 15% WITHHOLDING TAX, IN THE DOUBLE DIGIT TEEN REALM IN $US. THE CNE/PWE MERGER HAS CREATED THE LARGEST TRUST OF THIS TYPE IN CANADA. UNTIL 2011 THESE SHOULD BE GREAT INCOME INVESTMENTS. (RESEARCH FOR DETAILS) DEPENDING ON YOUR DISCOUNT BROKER YOU CAN SET UP A DRIP SO ALL DIVS GET REINVESTED WITHOUT COMMISSION. THESE ARE VERY TOUGH TO BEAT.