Being able to get a regular income from your investments is a common problem for all investors. It is the dream to get a regular and reliable wage from your investments. You can use the money to live on, or you can reinvest to make your portfolio of investments, and potential income larger. But how can you use what you have to help to pay you a wage? Here are some investments that you could consider, and how they might be able to pay you a regular wage.
Income From Cash
There are many strategies that can put your cash at risk. A lot of investments are at your own risk. Which, if you don’t make the right decision, which can be hard to gauge, could mean that you lose a large amount (depending on how much you invest in the first place, of course). But there are bank accounts that will pay a monthly sum for cash deposits. One way to do that is to spread out your cash over a variety of current accounts. Then you can maximise your cash returns. However, the flaw with this is that you are restricted on how much you can save. So looking into something like fixed rate bonds for your cash could be a better idea instead. Keeping a fixed rate means that you know what you’ll be getting and can make plans accordingly. Rather than have a surprise dip after a couple of months.
Income From Property
Investing in property is a popular way to generate an income. It can be a complete lifestyle investment too, meaning that you can completely run this as your job or income and see where it takes you. What you need to do, though, is to have a plan in place. You need to carefully work out your costings and lendings, to check that it will be viable for you. In order to be speaking to realtors to look for property, you need to know what kind of budget you can afford. It might be cash or a loan. You need to know how much people will pay to rent the property, or how much you could sell it on for after making some changes. So it is all a numbers game when it comes to property. You know that you’ve got a good investment when you can make all of your loan repayments, as well as make a profit each month.
Income From a Stock Portfolio
You could choose to generate a monthly income by creating a portfolio in the stock market. By buying say, half a dozen investment trusts that will pay money out at different times throughout the year. It could be a good idea to look for steady stocks and ones that have a good track record. They might not have the largest returns but do have the lower risk factor. So it will depend on how experienced you are with it all. But you do need to bear in mind that even if they have a history of paying good dividends, it doesn’t mean that they always will. So taking your time and due-diligence will help you to make the best stock investments.