have 6k need to make $45 a month by investing it

[TheSiege]

title says it all, I'd like to have access to it monthly, but if i can't thats alright too, like a term deposit....any ideas, besides the aforementioned one

 

[MrCodeDude]

Only way you're earning 9% on $6000 is through stocks.

 

[imported_Imp]

I was going to say GIC/Saving's account, but you need an annual interest rate of 9% to get that much.

Possible with mutual funds and stocks, but there's also the chance you'd lose money.

 

[JohnCU]

n/m

 

[TheSiege]

ok what about $4300 over the spand of 8 years?
thats like an average of 6.75 percent over 8 years

 

[JohnCU]

Originally posted by: TheSiege
ok what about $4300 over the spand of 8 years?

that's still 9% dude

 

[TheSiege]

Originally posted by: JohnCU

Originally posted by: TheSiege
ok what about $4300 over the spand of 8 years?

that's still 9% dude

isnt that like 6.75%

 

[JohnCU]

Originally posted by: TheSiege

Originally posted by: JohnCU

Originally posted by: TheSiege
ok what about $4300 over the spand of 8 years?

that's still 9% dude

isnt that like 6.75%

i dunno i dont remember the formula, it's probably less than 9% with the compounding so maybe it is 6.75

 

[StageLeft]

Originally posted by: MrCodeDude
Only way you're earning 9% on $6000 is through stocks.

And considering that, adjusted for inflation, the stock market is where it was a full decade ago, that seems a tough gamble these days.

Unfortunately, there is definitely, absolutely no sure-fire legal way to do this.

 

[TheSiege]

Originally posted by: Skoorb

Originally posted by: MrCodeDude
Only way you're earning 9% on $6000 is through stocks.

And considering that, adjusted for inflation, the stock market is where it was a full decade ago, that seems a tough gamble these days.

Unfortunately, there is definitely, absolutely no sure-fire legal way to do this.

i dont need to worry about inflation, basically what i am trying to due is make more money off some savings rather then pay something off with it

i owe 5800 bucks on my windows
I pay about $43 a month in interest, rather then paying it all off right now and lose 6k
I want to offset the interest so in ~8 years i still have that 6k

make sense?

 

[StageLeft]

Originally posted by: TheSiege

Originally posted by: Skoorb

Originally posted by: MrCodeDude
Only way you're earning 9% on $6000 is through stocks.

And considering that, adjusted for inflation, the stock market is where it was a full decade ago, that seems a tough gamble these days.

Unfortunately, there is definitely, absolutely no sure-fire legal way to do this.

i dont need to worry about inflation, basically what i am trying to due is make more money off some savings rather then pay something off with it

i owe 5800 bucks on my windows
I pay about $43 a month in interest, rather then paying it all off right now and lose 6k
I want to offset the interest so in ~8 years i still have that 6k

make sense?

Yes but in 8 years you'll still owe the $5800 on the windows so you won't really have made anything.

 

[imported_Imp]

Won't happen. There's a good reason banks make billions and every company wants you to finance: interest on you. Also notice how banks make money, despite giving out interest: more in than out.

You are better off paying your windows out ASAP. Think of it as -6000k, but $43 extra disposable income per month.

Edit: Forgot to add. I have tried to reason financing a bunch of high price items like you. Every time, I can't even neutralize the bullshit administration fee with 0% interest cause they already though about it, and interest payout to you is too little.

 

[randay]

wow

 

[xSauronx]

be easier to panhandle one day out of the month

 

[Skeeedunt]

I can think of one sure-fire way... pay off your windows.

 

[Vehemence]

$45 worth of lottery tickets a month

 

[Capt Caveman]

Originally posted by: TheSiege

Originally posted by: Skoorb

Originally posted by: MrCodeDude
Only way you're earning 9% on $6000 is through stocks.

And considering that, adjusted for inflation, the stock market is where it was a full decade ago, that seems a tough gamble these days.

Unfortunately, there is definitely, absolutely no sure-fire legal way to do this.

i dont need to worry about inflation, basically what i am trying to due is make more money off some savings rather then pay something off with it

i owe 5800 bucks on my windows
I pay about $43 a month in interest, rather then paying it all off right now and lose 6k
I want to offset the interest so in ~8 years i still have that 6k

make sense?

No, pay off your damn windows.

 

[bsobel]

Yes but in 8 years you'll still owe the $5800 on the windows so you won't really have made anything.

Well to be fair, you can figure about 1-2% per year discount due to inflation. This can be very important on large amounts (one of the reasons I still like interest only loans in some cases). But trying to manage this for a 6k loan isn't worth it.

 

[Epic Fail]

Go to casino monthly, bet $45 on black, profit!!

 

[Beattie]

Originally posted by: TheSiege

Originally posted by: Skoorb

Originally posted by: MrCodeDude
Only way you're earning 9% on $6000 is through stocks.

And considering that, adjusted for inflation, the stock market is where it was a full decade ago, that seems a tough gamble these days.

Unfortunately, there is definitely, absolutely no sure-fire legal way to do this.

i dont need to worry about inflation, basically what i am trying to due is make more money off some savings rather then pay something off with it

i owe 5800 bucks on my windows
I pay about $43 a month in interest, rather then paying it all off right now and lose 6k
I want to offset the interest so in ~8 years i still have that 6k

make sense?

Uhh... is that $43 interest or is that the payment. If it's the former, you wont pay off the loan. If is the latter, you are better off just paying the windows off and then saving up the 43 you would have otherwise spent.

 

[Specop 007]

I would do PVX. Its been a stock I've had off and on for years. Price generally runs between 9-11. Dividends are 10% a year paid out monthly (unless its recently changed).
So 6000 x 10% = 600, paid monthly is a bit under 60 bucks.

HOWEVER. As with any single stock prices may go down adversely affecting the value. I am NOT a stock broker or investment advisor. The information given is worth what you paid for it.

 

[Eli]

 

[Perknose]

Extremely short-term, street corner loans. What could possibly go wrong?

 

[Zim Hosein]

Originally posted by: Perknose
Extremely short-term, street corner loans. What could possibly go wrong?

That will be a whole other entertaining thread Pernose!

 

[IHateMyJob2004]

Originally posted by: TheSiege
ok what about $4300 over the spand of 8 years?
thats like an average of 6.75 percent over 8 years

You need one of the following:
5.5% yield with an annual increase in payout of 13%
6.0% yield with an annual increase in payout of 12%
6.5% yield with an annual increase in payout of 9%
7.0% yield with an annual increase in payout of 7%

The only way you could do this is to go after a REIT or a bank with a 6.5+% yield and reasonable growth prospects.

I would avoid REITS right now entirely.

I would not recomend any particular stocks ..... you need to make hte decisions on your own. I'd wait for BAC to release the next quarters data prior to investing, but that is your only bet to accomplish your goal (that I can see). The thing is, after taxes, you probably will not get the dividends that you want. granted capital appreciation is probably going to put you in the green (but if you are looking at total low risk return, you are better off with WFC).

----------------------
You are asking the wrong question though. What is hte interest rate on your debt? What do you have to make annually after taxes to make the debt logical to take on?

If you are paying an interest rate of 7%, you need to figure out a no risk way of making 9% annually. After taxes, you should make over 7%.

Given the nature of your question though, you are not qualified to make an investment decision other than buying a S&P 500 index fund. As others are saying, you might as well just pay off your debt (windows?).