Outside of your 9-5, what additional ways do you bring in income?

[SeaPA]

Talk to me a little bit about CDs if you would.

I had this idea, and I think CDs might be the best vehicle.

You put 100 bucks in a 12 month cd, next month do the same, ect. So after your first year you are rolling over a cd every month. I know returns wouldn't be great but let's say 100 turns into 105 bucks after a year. Can you buy a 105 dollar cd at that time so you could basically roll it while compounding your interest but at any given moment be 30 days( max) from drawing post tax money out?

How old are you? My impression is you're relatively young.

It's not a bad idea to have some cash in a rolling investment like you've mentioned, but in the long run you'd likely be much better off dropping that $100 a month into an S&P Index Fund or ETF. Historically, the return since inception has been a bit over 10% per year (average). That's far higher than you'd have averaged dropping it into CDs.

 

[Rifler]

Talk to me a little bit about CDs if you would.

I had this idea, and I think CDs might be the best vehicle.

You put 100 bucks in a 12 month cd, next month do the same, ect. So after your first year you are rolling over a cd every month. I know returns wouldn't be great but let's say 100 turns into 105 bucks after a year. Can you buy a 105 dollar cd at that time so you could basically roll it while compounding your interest but at any given moment be 30 days( max) from drawing post tax money out?

That's basically the approach I take with CD's,.. Majority of my portfolio is still invested in stocks, but I like to diversify, so bonds and CD's offer a less volatile investment, albeit with a lower rate of return...

 

[torbee]

So I've shared a little on here that I'm currently working 4 jobs in an effort to purchase a small businesses by 2027. I've also always had the "the average millionaire has 7 streams of income" in the back of my head. Outside of traditional, I work for a wage, type income, what are other ways you have found to bring income in? I imagine there are landowners and home renters here but know little about it other than my father owns a few rental houses in the dirty D. Anyone have good passive income types?

Just my freelance writing and my OnlyFans page.

 

[OrlandNole]

How old are you? My impression is you're relatively young.

It's not a bad idea to have some cash in a rolling investment like you've mentioned, but in the long run you'd likely be much better off dropping that $100 a month into an S&P Index Fund or ETF. Historically, the return since inception has been a bit over 10% per year (average). That's far higher than you'd have averaged dropping it into CDs.

Yeah, it sounds like what he's describing is dollar cost averaging, which you can achieve with better returns (over the long term) and less hassle through ETFs or mutual funds.

 

[ThorneStockton]

That’s not your side hustle that’s your main source of income. It makes useless people like torbee and little flick feel important.

Not true Hitman, for myself and most others on the payroll, we are just part timers, a side hustle. That said, I believe both torbee and flick are officers in the organization and may have responsibilities that are much more demanding.

 

[HawkeyeHitman]

Your schtick is boring

Your laziness is becoming a problem for this country.

 

[torbee]

Your schtick is boring

My actual full time job is living rent-free in this mouthbreather's miniscule brain. Lots of floorspace and definitely an open concept 😂

Hard to find other renters though as it reeks of desperation and small dick energy.

 

[fan_4_life]

I have a job working for an insurance company in the technology area. My side hustle is a corn/soybean farmer along with 105 head cow/calf operation. Sell feeder calves each year and feed out the smallest calves, roughly 8-10 head for locker beef that I sell direct to customers.

 

[Bonnell20]

I sell records on Discogs

 

[praguehawk]

Talk to me a little bit about CDs if you would.

I had this idea, and I think CDs might be the best vehicle.

You put 100 bucks in a 12 month cd, next month do the same, ect. So after your first year you are rolling over a cd every month. I know returns wouldn't be great but let's say 100 turns into 105 bucks after a year. Can you buy a 105 dollar cd at that time so you could basically roll it while compounding your interest but at any given moment be 30 days( max) from drawing post tax money out?

Very unlikely that with the amounts you are talking a CD would be the best option. You would be much better served by a high interest savings account.

 

[runkpanole]

Your laziness is becoming a problem for this country.

Your lack of a high school diploma is also a problem for this country.

 

[Bulldogs1974]

There seems to be a lot of whining on this board about how kids behave, parents not being involved in their kids lives etc.

I dont get why anybody chooses to work their life away when it takes time away from their children (perhaps not in whiskeys case).

You do you, but you just dont get to whine about kids these days and the lack of involvement from the parents

ETA: the one thing i will not be envious about is having the same oversized house as anybody else

WHo's whining and who is calling it "hustle culture" or "try hards" like these are bad things.
take a midol sally and raise your kids right.

 

[HawkeyeHitman]

My actual full time job is living rent-free in this mouthbreather's miniscule brain. Lots of floorspace and definitely an open concept 😂

Hard to find other renters though as it reeks of desperation and small dick energy.

Once again Torbee thinking he’s so funny and clever. When all he’s been doing all day is jerking off to Aaron Rupar article and waiting for little flick to get home from his left wing protest.

 

[HawkeyeHitman]

Your lack of a high school diploma is also a problem for this country.

You when to college for ten years and still can’t pay your bills without government assistance.

 

[Whiskeydeltadeltatango]

Just my freelance writing and my OnlyFans page.

Shameless plug for Torbee.onlyfans.com, I dig it.

 

[onlyTheObvious]

You can make about $500 a month (tax free since no 1099’s are sent) donating plasma twice a week.

 

[SI_NYC]

Most of us on the left get steady work as crisis actors, deep state provocateurs, protest bodies, on call/subs for antifa missions, that sort of thing. Soros has always paid well and has been timely. It's flexible, can do weekends only if that's your availability.

I charge Soros double for weekend work. There hasn't been any opposition yet.

 

[auntie_fah]

WHo's whining and who is calling it "hustle culture" or "try hards" like these are bad things.
take a midol sally and raise your kids right.

when some kid is caught on video and posted to social media doing something stupid, just dont ask where their parents are

 

[Moral]

WHo's whining and who is calling it "hustle culture" or "try hards" like these are bad things.
take a midol sally and raise your kids right.

High value male detected.

 

[NewVicHawkeye]

Day job hauling junk, side hustle selling treasures. Used to sell on eBay but now just sell on marketplace, antique mall or consignment stores.

 

[JWolf74]

Sell whiskey on the secondary market. Contract bartend at weddings, private parties, etc.

What you got up for sale? Brother has been looking for an eht sib but I don't want to give him my backup.

 

[runkpanole]

You when to college for ten years and still can’t pay your bills without government assistance.

You when? Thanks for proving my point.

 

[ISUBryceC]

So I've shared a little on here that I'm currently working 4 jobs in an effort to purchase a small businesses by 2027. I've also always had the "the average millionaire has 7 streams of income" in the back of my head. Outside of traditional, I work for a wage, type income, what are other ways you have found to bring income in? I imagine there are landowners and home renters here but know little about it other than my father owns a few rental houses in the dirty D. Anyone have good passive income types?

Zero. I've never had a side hustle since college. I've got a good job, put 16% of my income into my 401k, and I basically don't have any hobbies that cost money so I really just don't need much to live. I spend most of my time coaching and driving my kids around to stuff - if I had a side hustle there is no way I could be doing all of that and the coaching I do takes a lot of effort and honestly I'm proud of the job I do.

Honestly I'm not rich at all but I am having a blast. I hope everybody has a life as good as mine. I almost never think about money and if I am being honest I couldn't tell you how much I get paid on the 1st and the 15th.

 

[JWolf74]

My income is plenty and I work enough as it is. If I'm free and the weather looks bad enough I can't get golf in, I'll pick up an extra shift here or there. My parents worked their asses off, my dad worked essentially 2 full time jobs. I have always admired their sacrifice to get all the bills paid and keep the fridge full. That's a major advantage I had that other kids didn't. But they've really never got to travel anywhere. And it sucked how many little league games my dad missed, although I understood it.

So yeah, I have no desire to spend a bunch more time working. I think it would be insulting to the sacrifice my folks made. I'm going to spend as much time as I can with my family. And if that means the kids aren't going to become millionaires off of inheritance, so be it. They'll remember I was at almost all of their activities.

 

[IowaMeatMan]

Sausage making.

 

[BrunoMars420]

 

[Fijimn]

No side hustle. My main job keeps me very busy essentially 7 days a week. I am a little envious of my friend. He has 5 franchises that essentially run themselves, so he moved into passive income. A couple of rentals in Galveston, rental condo in Tamarindo, C.R., his house in Costa and then bought the land next to his house and is building 5-6 casitas for surf/fishing rental. He spends about 1/3 of the year in Costa and the rest in Houston. That's something I wouldn't mind getting into.

 

[LunchBox50]

What you got up for sale? Brother has been looking for an eht sib but I don't want to give him my backup.

Need a regular SiB or a store pick?

 

[JWolf74]

Need a regular SiB or a store pick?

Regular. I'd be interested in sp for right 🦌

 

[sabula]

So I've shared a little on here that I'm currently working 4 jobs in an effort to purchase a small businesses by 2027. I've also always had the "the average millionaire has 7 streams of income" in the back of my head. Outside of traditional, I work for a wage, type income, what are other ways you have found to bring income in? I imagine there are landowners and home renters here but know little about it other than my father owns a few rental houses in the dirty D. Anyone have good passive income types?

Did soccer referee for high school and college for 20 yrs. Paid $100-$150 per match. Youll have 2 in hs, still get the one fee, 1 for a college match. Do a couple a week, maybe a tournament a month. Id bring in $1500 or so a month.

 

[praguehawk]

No side hustle. My main job keeps me very busy essentially 7 days a week. I am a little envious of my friend. He has 5 franchises that essentially run themselves, so he moved into passive income. A couple of rentals in Galveston, rental condo in Tamarindo, C.R., his house in Costa and then bought the land next to his house and is building 5-6 casitas for surf/fishing rental. He spends about 1/3 of the year in Costa and the rest in Houston. That's something I wouldn't mind getting into.

What are the franchises?

 

[Fijimn]

What are the franchises?

Armstrong-McCall. Hair stylist supplies, but you have to be in the industry to shop there. So he doesn’t deal with the general public

 

[bagdropper]

I whore myself out to a thousand fat chicks for 50 bucks apiece. Or 50 really fat chicks for a thousand bucks.

What? Don't look at me like that. Fat chicks need love too. But they gotta pay!

 

[HawkeyeHitman]

You when? Thanks for proving my point.

My spelling and grammar might not be the best but at least I can pay my bills without government assistance.

 

[ICHawk-I]

Most of us on the left get steady work as crisis actors, deep state provocateurs, protest bodies, on call/subs for antifa missions, that sort of thing. Soros has always paid well and has been timely. It's flexible, can do weekends only if that's your availability.

I hear they are ramping up their interviews for "Registering and voting as dead people" and "Election night bus drivers (Spanish speakers a plus!)"

 

[runkpanole]

My spelling and grammar might not be the best but at least I can pay my bills without government assistance.

Yeah bro, so can I. Next time you clean my toilet, you need to do a better job.

 

[SF HAWKEYE]

Wife sells clothes and shoes on Poshmark. I travel around the midwest and between appointments I'll stop into Goodwill and see if there is anything good. We were pulling in $2K a month like 5 years ago. Then Goodwill got smart and started auctioning everything on their website.
Wife also does a MLM line of cosmetics.

 

[herkyhawk00]

Talk to me a little bit about CDs if you would.

I had this idea, and I think CDs might be the best vehicle.

You put 100 bucks in a 12 month cd, next month do the same, ect. So after your first year you are rolling over a cd every month. I know returns wouldn't be great but let's say 100 turns into 105 bucks after a year. Can you buy a 105 dollar cd at that time so you could basically roll it while compounding your interest but at any given moment be 30 days( max) from drawing post tax money out?

I think high Interest savings accts would be a better use than a CD as you can hold more money in them and can withdraw as needed. The S&P 500 has been a conistent money maker over history, also,

 

[spiderland]

Are we talking cash flow in any direction? Or just positive?

Actually, now that I think about it, I make money through cost avoidance. By not purchasing any more guitars. Or too many more. Yeah, me.

 

[HawkeyeHitman]

Yeah bro, so can I. Next time you clean my toilet, you need to do a better job.

You don’t know how to use a toilet. So how can anyone clean one for you? You’re probably covered in your own poop right now.