I got a second job I don't totally need meaning I can dump a majority of the paychecks into savings. Along with some savings from my main job, where can I allocate funds that will pay me something monthly or quarterly?
I am well aware that there are better returns in Roth Ira accounts. I have a few of those I throw cash into already. I'm so obsessed with getting an income stream of more cash to my account with money I already got tho. I am reading into bonds. Continuously think of rental homes. Stock dividends cross my mind. Is it possible to make something happen after working my tail off or am I gonna be have to just stick with retirement accounts and my high yield savings accounts?
Working two jobs. What can I do with the $ so I don't have to do this forever?
byu/yohosse inpersonalfinance
Posted by yohosse
1 Comment
The investment vehicles you just listed tell me it would be extremely useful for you to just take a comprehensive personal fianance and savings 101 course. Learn about opportunity cost. Dont just pick up random bits of info in random places. Learn about all the places one can put your money. Many would say use the retirement tax savvy accounts and just stick it in a low cost index fund after an emergency fund. If you want sooner access or split some off, Brokerage accounts allow for short and long term capital gains taxed. There are some caveats to this like stocks vs etf and how the etf is setup but basically Short holding are taxed as ordinary income (held under 1 year) long (over a year) at 0, 15, 20% tax.