Where to start investing to get a return each month?

Question

Hello: I have a bit of money to invest (84K). My dad passed away awhile ago and now I have to help my mom with payments because his income is gone. I was hoping to take some money, invest it in something that has a monthly interest return of 1% or so that I could draw each month to help defray her mortgage payment. I have no idea where to start, or if there is something out there like it. I was going to just start talking to a financial consultant in my credit union, but wanted to be sure that would be the best way to start? I'd like input on that or if anyone knows of types of investment I could consider, I could bring that knowledge with me in whoever I should talk to. Thank you!

Answer 1

You have to balance safety of principal vs. current income vs. purchasing power.

If you go for the highest current income, you will be risking your principal, and your purchasing power will remain the same.

If you go for the safety of principal, your current income will be lower, and your purchasing power may increase or decrease.

If you go for increasing your purchasing power, your income will be low, and you again will be risking your principal.

The best way to balance all three is to invest in utility and other conservative stocks - banks, REITs - that increase dividends over time.

Your principal will be relatively safe, you will collect 6-7% annual income, and your purchasing power will be protected and may increase faster than inflation.

Your best choices are CEFs (closed end funds): UTF and DVM: monthly income and increasing payout.

Answer 2

Sorry to hear about your Father. I would suggest freedomrocks.com. The people who followed the program last year made 220% return on their money(there is no guarantee it will stay at that but its up a lot this year as well). It trades foreign exchange currency but its built on the hedge concept. It also leverages your money 400:1. So if you have 1000 dollars your investing its like 400,000 on the market and you gain interest on that 400k. You can try it out for 2 weeks with fake money and you will see how great it is. If someone averages 12 percent a month on 5k for 6 years it will be 19 million dollars. The opportunity in this program is beyond what I thought possible. There is a video to watch on the link below. All the people I talk to who follow this strategy have amazing things to say about it.

www.freedomrocks.com/freedemo

Email me and I will help you set up the freedemo. Good luck

Answer 3

A monthly rate of 1% is equal to 12% annual rate.
That requirers stocks which have risks.

Risks are "OK" if you don't need the money for 5 years or more. As a general rule the market pays much better than savings over the long term.

I've been associated with the market for many years. I can tell you with certainty that Banks, Credit Unions & Insurance Companies have the least knowlegable people selling high cost products.

Call Schwab or Fidelity. They may be able to help you directly or will pass you on to an associated financial planner. Speak to at least 3-4 before doing anything!

And just to be sure we understand each other;
Speak to at least 3-4 before doing anything!


Consider yourself warned.

Answer 4

If you are wanting to draw the interest off each month to help support your mom, any savings you use isn't going to give a lot of interest.
Even at 2% with no additional deposits and no withdrawals for a year, you would only earn Approx. $1600 in a year.
There are a few online savings accounts you could look into that pay a bit higher rate. All you need is a checking account at your local bank. You would have to deposit the $84k into the checking and then transfer it into the online savings. You can then transfer back any amount you want back into the checking account. These transfers take about 3 days.

Here are 3 online savings accounts that pay well.
https://www.fnbodirect.com/01d/html/en/ currently paying 6.00%APY
http://www.hsbcdirect.com/1/2/1/offer?code=PPGA500000 currently paying 5.05%APY
https://www.emigrantdirect.com/EmigrantDirectWeb/index.jsp currently paying 5.05%APY
All 3 are FDIC insured up to $100,000.
With a 5% return and no withdrawals, your $85k would earn interest of approx. $4200 in a year.

There are also Money market accounts offered by Vanguard and Fidelity.

Google each and you can read up on those as well.

Hope this helps.

Answer 5

Here are some ticker symbols to get you started with stocks that pay dividends each month -CHY, DEL, DSU, EHI, EOS, FAX, IGR, PCH, PCL, PFL, POPEZ, VVR, ZTR. The best I have found at a low investment is HYB and HYF. Hope that helps.

Answer 6

you can call my financial advisor. he's independent and really easy to work with. his website is www.morelandcapital.com where you can view all his information. their phone # is 208-578-7931. good luck and best wishes for your mom!

Answer 7

real estate, buy a house rent it or just fix it up and sell it the market is going up

Answer 8

try http://goldenbullpicks.com