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poorguy 05-09-2016 10:22 AM

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

Unregistered 05-09-2016 11:05 AM

Quote:

Originally Posted by poorguy (Post 90143)
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

All you are doing is punting on a couple of high risk instruments like writing options and buying a derivative linked fund fraudulently marketed as a dividend income fund.

You are better off driving Uber as side income for extra $1000 a month.

poorguy 05-09-2016 11:18 AM

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?

Unregistered 05-09-2016 12:16 PM

Quote:

Originally Posted by poorguy (Post 90145)
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?

If you think writing covered options ain't risky, then you need to go back for some basic lessons. Your EXG fund markets itself as a global diversified equities fund that pays out dividends, but in actual fact it uses undisclosed derivatives that are somewhat linked to a portfolio of equities and pays out so called distributions that are in most likely hood some sort of capital.

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".

Unregistered 05-09-2016 12:27 PM

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.

Unregistered 05-09-2016 01:09 PM

Quote:

Originally Posted by Unregistered (Post 90147)
If you think writing covered options ain't risky, then you need to go back for some basic lessons.

I think his into binary options with the so call fix return every month. A lot of get rich quick lesson are teaching this as a safe monthly return strategy to the layman. They like to ask the students to use apple & google stock to write because it makes whole strategy sound credible.

Unregistered 05-09-2016 01:35 PM

Not surprising why you are a poor guy.


Quote:

Originally Posted by poorguy (Post 90143)
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


poorguy 05-09-2016 01:40 PM

Quote:

Originally Posted by Unregistered (Post 90147)
If you think writing covered options ain't risky, then you need to go back for some basic lessons. Your EXG fund markets itself as a global diversified equities fund that pays out dividends, but in actual fact it uses undisclosed derivatives that are somewhat linked to a portfolio of equities and pays out so called distributions that are in most likely hood some sort of capital.

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".


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?

Unregistered 05-09-2016 02:08 PM

Quote:

Originally Posted by poorguy (Post 90153)
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?

what skills u have? cannot just no head no tail expect ppl to teach u how to make money.

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.

Unregistered 05-09-2016 02:14 PM

Quote:

Originally Posted by poorguy (Post 90153)
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?

Different poster.

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.

poorguy 05-09-2016 02:18 PM

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 :)

poorguy 05-09-2016 02:20 PM

Quote:

Originally Posted by Unregistered (Post 90156)
Different poster.

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.

Thanks for the suggestions. Are you doing any of these with success?

Unregistered 05-09-2016 02:48 PM

Concentrate on your career first... Ask people to share money making story online is a waste of time and you will still be poor.

Unregistered 05-09-2016 03:29 PM

Crowdfunding, especially those that are reputable and have done their due diligence. Examples include New Union

Unregistered 05-09-2016 04:36 PM

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:

Originally Posted by poorguy (Post 90143)
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


Unregistered 05-09-2016 05:48 PM

I lecture part time. Get $100/hour. Comparable to locum Doctors.. Not bad..

Unregistered 05-09-2016 05:56 PM

Quote:

Originally Posted by poorguy (Post 90143)
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

The eaton fund you are buying does not pay out dividend of 10% yield (i.e. 7% net). What it does is buy into some dividend stocks then sell call options of the underlying securities and payout the dividends + option proceeds to investors.

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.

poorguy 05-09-2016 05:58 PM

Quote:

Originally Posted by Unregistered (Post 90166)
I lecture part time. Get $100/hour. Comparable to locum Doctors.. Not bad..

Care to share your qualification and how you got the job?

Unregistered 05-09-2016 06:15 PM

I do a bit of part time online projects for startups, usually can make 30-40k extra a year.

Unregistered 05-09-2016 06:38 PM

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:

Originally Posted by Unregistered (Post 90167)
The eaton fund you are buying does not pay out dividend of 10% yield (i.e. 7% net). What it does is buy into some dividend stocks then sell call options of the underlying securities and payout the dividends + option proceeds to investors.

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.


Unregistered 05-09-2016 08:39 PM

It depends, what is your academic qualification and work experience?

Unregistered 05-09-2016 08:56 PM

I have joined a few pay-to-click websites and survey websites.
I make around 300-400 per month.

Unregistered 05-09-2016 09:10 PM

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.

poorguy 05-09-2016 11:20 PM

Quote:

Originally Posted by Unregistered (Post 90167)
The eaton fund you are buying does not pay out dividend of 10% yield (i.e. 7% net). What it does is buy into some dividend stocks then sell call options of the underlying securities and payout the dividends + option proceeds to investors.

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.


Definitely more than 2c worth thanks!

poorguy 05-09-2016 11:24 PM

Quote:

Originally Posted by Unregistered (Post 90170)
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.

Does resorting to calling people names made u feel superior?
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?

poorguy 05-09-2016 11:26 PM

Quote:

Originally Posted by Unregistered (Post 90169)
I do a bit of part time online projects for startups, usually can make 30-40k extra a year.

What kind of online jobs are u doing?
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.

poorguy 05-09-2016 11:28 PM

Quote:

Originally Posted by Unregistered (Post 90171)
It depends, what is your academic qualification and work experience?

I only have 2nd lower engineering degree from NUS and working in semiconductor fab for few years.

Unregistered 06-09-2016 11:36 AM

Quote:

Originally Posted by poorguy (Post 90181)
I only have 2nd lower engineering degree from NUS and working in semiconductor fab for few years.

Since you work 9-5, why not be an uber driver at night and during weekends?
Can make extra money to pay for your car.

Unregistered 06-09-2016 04:46 PM

Quote:

Originally Posted by poorguy (Post 90181)
I only have 2nd lower engineering degree from NUS and working in semiconductor fab for few years.U

Perfect to teach tuition in AE Math Physics Chem. Jus teach three kids over the weekends. 6 h per week. Assuming pay 80 bucks ph, u can get close to 2K. If want to work harder can take more students and earn 2K plus.

poorguy 06-09-2016 05:02 PM

Quote:

Originally Posted by Unregistered (Post 90194)
Perfect to teach tuition in AE Math Physics Chem. Jus teach three kids over the weekends. 6 h per week. Assuming pay 80 bucks ph, u can get close to 2K. If want to work harder can take more students and earn 2K plus.

Hi. Can share or pm where you find the students?
I did sign up for some agencies but they prefer current school teachers.
Thanks again!

Unregistered 06-09-2016 10:03 PM

Quote:

Originally Posted by poorguy (Post 90179)
Does resorting to calling people names made u feel superior?
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?

Yes I feel superior to a bumbling c0ckhead who is too lazy to do 5min google research before throwing thousands of $$$ into something.

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.

poorguy 07-09-2016 09:37 AM

Quote:

Originally Posted by Unregistered (Post 90205)
Yes I feel superior to a bumbling c0ckhead who is too lazy to do 5min google research before throwing thousands of $$$ into something.

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.

Have a nice day~
:)

Unregistered 08-09-2016 10:12 PM

Quote:

Originally Posted by Unregistered (Post 90184)
Since you work 9-5, why not be an uber driver at night and during weekends?
Can make extra money to pay for your car.

assuming using your own car, have you considered the wear and tear that will be incurred, after petrol and uber cut...still can make any significant sum considering the time put in? if so easy, everyone will be doing it...and singapore everyone also no financial woes already..

ngchdd 09-09-2016 05:57 PM

Quote:

Originally Posted by poorguy (Post 90143)
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

Well I've been asking myself the same question for a long time too. Tried a couple of ways like playing in gigs and all, cos I sing and play the guitar. Always thought that passion could bring you money, especially since it's a sideline, but it wasn't sustainable.

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.

Unregistered 11-09-2016 12:04 AM

Quote:

Originally Posted by cashisking (Post 90279)
how about affiliate marketing through facebook? I am able to make a decent side income from it. a few k just 30 mins a day

Cool story la Brudder

Unregistered 11-09-2016 10:36 AM

Try forex trading - can make 10k+ part time once you know the technique.

Unregistered 12-09-2016 10:54 AM

Quote:

Originally Posted by Unregistered (Post 90297)
Try forex trading - can make 10k+ part time once you know the technique.

High risk high return. My friend made few hundred grand a year for many years and lost close to 1mil last year.

Unregistered 12-09-2016 11:16 AM

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!

Unregistered 12-09-2016 12:42 PM

Quote:

Originally Posted by Unregistered (Post 90316)
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!

ts only got 40k lah, not even enough to pay the 120k down payment needed


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