Gain more $

On-Line Savings Accounts

On-line savings accounts are paying 4.50% or more on ordinary savings accounts!

Capital One – 5.00%

HSBC – 6.00% on new money until April 30th.  NOTE:  They only allow you to deposit $2,000,000.

ING Direct – 4.50%

 

Invest In Funds That Require Smaller Amounts to Open

American Funds – $250 to open; $25 automatic monthly deposits required (I love automatic!)

GE Funds – $500 to open; $100 automatic monthly deposits

Find more funds at Morningstar.com – Use their FUND SCREENER 

 

Purchase Property That Produces Income

Rental homes; Rental equipment; Commercial Building Capital Leases;

Anything that pays out cash as residual income is great.  Anything that increases in value over time is grand.  Anything that pays out cash PLUS increases in value over time is great AND grand! 

4 Responses to “Gain more $”

  1. jane muir February 19, 2007 at 7:14 am #

    Joe, are we allowed to purchase property with loaned money if all the interest and cost are covered with the income of the rental?

    AND, I’ll get right on that investments that requires $2 Million for each deposit! Not even in my wildest dreams! IF I had that much money, NS would not worry about raising funds for the children’s and teen’s buildings!

    Thanks again for your passion! Jane

  2. Paul Moyer February 20, 2007 at 6:48 am #

    I think that is supposed to be $2,000 not $2,000,000.

    Don’t forget e-loan who is giving 5.25% with initial deposit of $5,000 (this is not the minimum balance but you must start the account with this amount).

    Most people think HSBC is only going to let that 6% go for only a few months. Then it will revert back to 5.05%

    Thanks for keeping things on the cutting edge Joe, YOU ROCK!!

  3. Laurell February 23, 2007 at 11:07 am #

    So if you put 60,000 into savings at HSBC would you make 3,000 a month?

  4. Bernard Ng April 5, 2007 at 3:16 am #

    No, i don’t think it’s monthly rate. It should be annual rate. You would get 3,000 a YEAR if you put 60,000 into savings at HSBC provided that the rate is 5% every year.

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