just trying to figure out ways to invest money. my GOAL is to see if its possible to live off intrest and renting..could this be the smartest thing..or if not please tell mr other ways to invest
1 invest in mutual funds
2 open a few cd bank account with high return apy
(with no intention of touching that money
3 buying a 6 family home and make money of rents
2007-10-27 13:30:28 · 4 answers · asked by justsomeone 1 in Business & Finance ➔ Investing
Buy gold.
2007-10-27 13:38:42 · answer #1 · answered by Blessed 7 · 0⤊ 1⤋
out of these three #3 is your best option but now is not the time for real estate buying. Mutual funds you have to pick the right ones not the ones that are hot now, cd rates have been falling for now entries online banks do pay better and your money will not be tied up if you need it option #3 when tenants trash your place.
2007-10-27 15:51:06 · answer #2 · answered by Anonymous · 0⤊ 0⤋
It is definitely possible to live off interest. But it takes a large investment to do so. As a ballpark, a prudent $5,000,000 investment will net you at least $100,000 annually before taxes.
2007-10-27 13:57:33 · answer #3 · answered by Anonymous · 0⤊ 0⤋
visit daveramsey.com to learn ur hard lessons from others mistakes.
2007-10-27 16:07:20 · answer #4 · answered by Anonymous · 0⤊ 0⤋