I want to invest my money and instead of it sitting in my account accruing interest, I want to have access to the interest that I am making off my money. Is there such a thing? I can't touch my 401 K or my IRA and I have a savings account that pays 5%. But is there anything out there aside from stocks (buying low and selling high) that would allow me to generate a little money on a monthly basis?
2007-01-23 08:25:30 · 6 answers · asked by brazlgirl 2 in Business & Finance ➔ Investing
Look into the REIT's as someone else mentioned....or Canadian Royal Trusts (a little " shaky" right now because of some politics)
If you go to http://www.investorvillage.com
...you can look up either one of those ...just type in REIT's, or CANROYS...in the "symbol" box and it'll take you to a board full of very knowledgeable investors....you'll have to "register" to ask a question, but it's a nice site to have for future references
Ask about "monthly" dividends...there are plenty!
Oops! There is also a board for " dividend investing" there...
....and also ask about MLP's....another type of investment that deposits your dividend in your "cash" account.
Don't be shy...most of the people at that particular site are very gracious to "newbies"
Best of luck.
Oh! to get the whole thing going you'll have to go to a broker..like E-trade ( everything on-line)...set up an account, and then buy
whatever type investment you want... ( it's not hard or even complicated)
2007-01-23 09:11:14 · answer #1 · answered by jebediabartlett 6 · 0⤊ 0⤋
You can buy CD's at any bank that offers the best interest rate and buy with conditions that you will receive the interest monthly. That is your safest bet but you can buy into stocks and bonds that may pay higher rates but there is always a risk in most of these. Check with a Broker, etc. Good luck.
2007-01-23 16:36:54 · answer #2 · answered by Anonymous · 0⤊ 0⤋
you don't have to sell stocks to get monthly income. Many closed end funds & some mutuals pay monthly. 5% fully-taxed is awful - hope your 401k+IRA not in a bank earning that. Might as well not have them if so. AFB is a municipal bond fund that pays over 5% fed tax free! Perfect for non-retirement acct. Many others but must buy stocks as well for retirement accts. No choice unless you want to fail. ADX PEO 2 classics. feel free to contact vegas_iwish@yahoo.com for more qs
2007-01-23 18:18:58 · answer #3 · answered by vegas_iwish 5 · 0⤊ 0⤋
You can invest in a REIT (Real Estate Investment Trust) stock that pays dividends monthly. Most pay quarterly though.
2007-01-23 16:28:15 · answer #4 · answered by Feeling Mutual 7 · 0⤊ 0⤋
14% Annually (The interest is paid monthly)
2007-01-23 17:00:01 · answer #5 · answered by Anonymous · 0⤊ 1⤋