Many of us are looking for ways to supplement/increase our income. The following suggestions may help you to do that.

 

One powerful way to increase your income is to invest in stocks.  The younger you start the more powerful these investments will be.  I recommend putting at least part of your money in an index fund such as one mirroring the Nasdaq Composite Index.  This approach will beat 80 to 85 percent of possible stock investments.  I don't recommend trying to time the market as it is extremely difficult to do.  Invest and forget about it until you need it.  Historically stocks have generated annual returns of about 10 percent.  Of course there is no guarantee of future results.  Due to the rate of gain the best results by far are generated by starting as early in your life as possible.  If you have a large amount to invest and are just starting you may want to invest it gradually over several years in order to reduce the risk of buying at a high point.     

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Another way is to work a few extra hours per week.  You can decide whether it is worth it but you may be able to get time and a half for overtime work.  If you believe it is justified and there is little chance of losing your job you can ask for a raise.

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Many people sell items on the internet such as on Ebay.   If you have a few valuable items that you no longer want you may be able to generate some extra money.

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If you qualify you may be able to transition to a higher paying job.

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Finally, real estate can be a good investment if you need a place to live.  With a tax deduction and use of the bank's money to finance 80 percent of the cost of a home you may be able to generate a 15 percent annual return on your down payment if real estate prices in your area rise about 3 percent annually. 

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