Mike
Carruthers:
There are some interesting ways to make money that you may not have thought of.
For instance…
Jordan Goodman:
Credit card swiping machines
- you know when you go to the store they'll swipe your credit or debit card. When
that happens the merchant is paying the owner of that swiping machine a fee.
Personal finance journalist Jordan
Goodman, author of the book
Fast Profits in Hard Times… There
are companies that put together portfolios of credit card swiping machines so
every time a swipe happens you receive those fees. The yields on these tend to
be about twenty to twenty-five percent, they do all the work, and they basically
give you a check every month. There
are similar opportunities with vending machines as well. And as the U.S. economy
slows down and the dollar weakens, there are strategies to make money as a result
of that too. The
conservative way to do it is to buy CD's denominated in foreign currencies (Canadian
dollars, Euros, Swiss Francs) so you're getting an interest of maybe about four
or five percent as the CD matures. And, if the U.S. dollar has fallen against
that currency, you get a capital gain as well. And
there are even ways to make money while you sleep. If
you have a website, all of the big search engines have online advertising services
now that you allow them to serve ads on your website. Anytime anybody clicks on
those ads you get twenty-five cents or fifty cents. For example on my website
moneyanswers.com I have Google AdSense and I get a check for like five hundred
dollars a month for basically doing nothing. You
can hear about these and other investment ideas from Jordan's
website which you can link to from ours: somethingyoushouldknow.net
- I'm Mike Carruthers and that's Something You Should Know.
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