Ways to increase income
Hi.
I am starting this thread so that everyone can share how to make e.g. $1000 more per month on top of your current job. Hope this can provide some useful information, of course the guy who looks out the window everyday might pop by but we can just ignore him. For me, I am selling put options on some stocks that I do not mind holding. However, as Apple stock is expensive, I get only about 0.5% return per month on my capital $40,000. Also, I am also invested in a fund, EXG that pays dividend monthly and the yield is ~7% per year, after US dividend tax. I did some research on convertible bonds which seem to payout some dividend and provide some upside when stocks go up as can convert to stocks but most are priced above par so haven not shortlisted any so far. So guys, any good opportunities to share other that COE price going up, look out window, sell HDB flat and retire overseas? ~poorguy |
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You are better off driving Uber as side income for extra $1000 a month. |
what warrants your negative remarks?
Do you want to substantiate your unconstructive remarks with better explanations? Selling put options is risky? are you talking about naked puts? Fradulent fund? Do you know the underlying securities? Does driving uber give you extra $1000 a month? Do you want to share your experience or just based on some information you read online? Negativity does not get you anywhere, be positive yah? |
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It is hard to tell because the company isn't being transparent on the actual mechanics except that is is loosely tied to the performance of a basket of equities. However, one cannot escape the fact that equities do not pay out net yields of 7%, i.e. gross of 9-12%, not even if it were solely concentrated on emerging markets. Uber part time drivers can make additional $1,000 with far less risk and much more consistency. I am just suggesting to you that what you are doing is just high risk low returns and that amount can easily be replicated by driving part time with greater peace of mind. Try to think logically instead of knee jerk defensive reaction and senseless sloganeering to be "positive". |
We already made our money from good opportunities. That is why we have time to look at COE prices and look out of windows. I see you're a poor guy so work hard and one day you can join us.
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Not surprising why you are a poor guy.
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Compare this to your first reply. If you have answered with these constructive comments, it would have educated people so much. I am poor, so COE/retirement is out of my leagues, that is why I'm asking if other people care to share their ideas. Also, I am not into binary options and definitely not selling anything. I sell 4 contracts of Apple@100 put options for about $100/contract. It is not a naked put option as I have to put aside 40k in case the options got called which happened before and I had to buy the stocks. Which I then sell call options as covered call. Other than Uber, any other suggestions to share? |
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also from exp i dun recommend poor ppl play stock market, many of my friends all end up losing money cauz they dun have backing. |
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This is like playing with CFDs, win some lose some. I won't classify that as additional monthly income. 40k too small to make passive income, best way is to take up additional jobs like driver, property/insurance sales, tuition, blog shops etc. |
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