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. |
Eh I am not expecting people tp teach me how to make money but share how they are making extra money outside their day jobs :)
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Concentrate on your career first... Ask people to share money making story online is a waste of time and you will still be poor.
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Crowdfunding, especially those that are reputable and have done their due diligence. Examples include New Union
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Hi poor guy,
Don't waste your money and time. Go find a part time job such as part time taxi driver, dog walker, coffee shop assistant, part time retail assistant, etc. Another way is to upgrade your skills so that you can get a better paying job and focus on career. Yours sincerely, Rich guy Quote:
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I lecture part time. Get $100/hour. Comparable to locum Doctors.. Not bad..
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The drawback of this technique is that it will never get capital appreciation from the underlying securities as anytime the stocks go above strike the option holders will exercise their rights and the fund will be forced to liquidate at lower price. However when the price of the underlying stocks go down, the fund has no counter balance in hedges and will absorb the full write downs. Long term effect is you have high dividends and deprecating unit price. The fund has dropped by close to 60% since inception due to falling NAV. Out of the 10% yield, I estimate only ~3% are real dividends, the remaining is just round about capital returns. This is not something newbies with little money should be buying. My 2c. |
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I do a bit of part time online projects for startups, usually can make 30-40k extra a year.
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This OP is c0ckhead of the year.
Such funds are special setups that cater to niche US investors to lower effective total tax rate compared to just buying direct. In Sg we have no withholding, capital gains, cross-balancing or income tax credits. He end up donating 30% of capital gain to the US treasury vs invest normally and paying 15% standard tax on liquidation. Quote:
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It depends, what is your academic qualification and work experience?
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I have joined a few pay-to-click websites and survey websites.
I make around 300-400 per month. |
Part time property agent. Used to be able to close a few deals and make 10k+ each month, but recently downturn lucky to close 1 deal a month which net commission 4-6k depending on property.
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Definitely more than 2c worth thanks! |
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Learn from the poster before u, his 2c worth is more constructive than yours. Why don't u share your experience or investment with us instead? |
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I had a few jobs from upwork.com but didn't pay that we'll and tons of engineers from India offering their services at absurb low pay. |
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Can make extra money to pay for your car. |
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I did sign up for some agencies but they prefer current school teachers. Thanks again! |
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Just look at you, only know hot to whine about being poor and post silly 1 liner questions expecting people to spoonfeed you how to make money. Pathetic. |
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:) |
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And then I dabbled in some affiliate marketing a couple of months ago, and it seems pretty promising. Looks like I did find something after all. |
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Try forex trading - can make 10k+ part time once you know the technique.
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Best is to be uber or grab driver. You can earn to cover the loan for your car.
So, let's say you buy a luxury sedan which costs you $2000 pm in monthly instalment. You can be a part time uber or grab driver to earn maybe $1000 pm to cover half the cost. This way you look rich even though you're not. If you drive a luxury sedan, the chances of getting a life partner is higher than if you take bus. Go for it! |
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