How can I make $3000.00 a month with investments.
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Thread: How can I make $3000.00 a month with investments.

  1. #1
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    How can I make $3000.00 a month with investments.

    Hello, I want to eventually make $3000 dollars a month on top of my working wage.
    I'm looking for a low to moderate risk way to accomplish this. (If even possible)

    I currently have 110K

    10K in a ETF (locked in 5 yrs)
    15K in ING 1.5%
    20K in 2% RRSP (locked in 2 more months)
    rest is in a 1.3% savings account

    I'm open to all suggestions that can help me achieve my goal, I'm only getting 1-2% a month so there should be room for improvement.

    Which bank should I be with, what should my TFSA be in? Should I be in stocks or real estate? Any suggestion are welcome.

    I'm more interested in making money monthly or yearly instead of 10-15 years down the road. Is that alright or will I get much lower returns because of that.

    Thanks

    Last edited by emperor; 2011-11-04 at 08:10 PM. Reason: Reworded, I wasn't clear in my original post.

  2. #2
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    Low to moderate risk? I don't think it's possible without a lot more money.

    With 300k and 3000 a month you are talking 12%, that's a lot! 600,000 you could achieve this at 6%, which would be easy enough with good dividend stocks but still not really low risk.

    Real estate leveraging could help for sure, but you would need to find some good multi unit places I would think, still doesn't sound low risk to me.

    I guess I'm saying you need at least a mil.... Unless you want to be more risky or spend time playing the markets.

  3. #3
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    Quote Originally Posted by jamesbe View Post
    Low to moderate risk? I don't think it's possible without a lot more money.

    With 300k and 3000 a month you are talking 12%, that's a lot! 600,000 you could achieve this at 6%, which would be easy enough with good dividend stocks but still not really low risk.

    Real estate leveraging could help for sure, but you would need to find some good multi unit places I would think, still doesn't sound low risk to me.

    I guess I'm saying you need at least a mil.... Unless you want to be more risky or spend time playing the markets.
    yup, it's all in the math

  4. #4
    Administrator CanadianCapitalist's Avatar
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    OP's expectations are not realistic. $3,000 per month on a $110K portfolio a 32% annualized return. I'd say that 6 to 8 percent is a realistic goal for young investors who are mostly invested in stocks.
    Canadian Capitalist -- Helping you invest & prosper

  5. #5
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    Quote Originally Posted by emperor View Post
    Currently I make about $120 a month which is pretty sad.

    I save around 20K - 50K a year
    I'm not following this...

    Welcome to the forums though - best bet is to start reading the other posts in this forum. Keep Investopedia on bookmark to look up all the unknown words you'll come across.

  6. #6
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    Buy a bunch of lottery tickets, win $2 million, put it in a HISA at 2%, and bob's-your-uncle, you have $3k a month in very safe income.

  7. #7
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    Thanks for the replies, my goal is 3000 a month.
    I don't expect to reach that now. I want to work towards that.

    I saw a town house for sale for 90K that has a renter paying 750 a month, is that a really good investment then? After the 200 dollar condo fee I make 500dollars a month off 90K.

    I'm not that interested in invest now and make money 15 years from now.

    I'm interested in invest now get money every month or every year max and try to reach my goal of 3000 a month.

  8. #8
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    Assuming $500/month income with $90K invitial investment that's $6000/yr which gives 6.66% yield. However you forgot to factor in property taxes, repair/maintenance costs and empty rent, so your yield will be closer to 5% a year.

    You'd probably be better off with $90k in REI.UN lol.

    But the point is, if you don't want to invest and make money later, you're really looking at income-producing investments. Dividend stocks, bond funds, REITs, actual real estate. Those are your typical income-paying investments. None of those would yield 30% a year.

  9. #9
    Senior Member KaeJS's Avatar
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    Quote Originally Posted by peterk View Post
    I'm not following this...
    What he meant was that he is currently making $120/month on his investments, not on his wage.

    As for the OP:

    This is not realistic.

    With $110k, low to moderate risk, you are looking at $400-500/month.

    Wanna make $3k?

    $3,000/$500 = 6

    6 = $600,000

    As someone said before, you would need about $600k to achieve your goal.

  10. #10
    Senior Member Xoron's Avatar
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    Quote Originally Posted by emperor View Post
    Hello, I want to make $3000 dollars a month on top of my working wage.
    I'm looking for a low to moderate risk way to accomplish this.
    The first question you need to ask yourself is what is the return you are trying to get for a low to moderately risky set of investments.

    So $3000/month is $36,000/year.

    @3%/year return, you'd need $1,200,000.00 in investments
    @4%/year return, you'd need $900,000.00 in investments
    @5%/year return, you'd need $720,000.00 in investments
    @6%/year return, you'd need $600,000.00 in investments
    @7%/year return, you'd need $514,285.71 in investments
    @8%/year return, you'd need $450,000.00 in investments

    Once you determine your risk level and return you want to achieve, then figure out how to save/invest the appropriate amount to get there.


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