Disclaimer: I am terrible at arithmetic, so if anyone has a good calculator for this, please advise!
This is just a wild thought. Is there any sort of investment, even a good-paying savings account, that would allow me to make $200 or so in interest on an initial $20,000 investment? And allow me access to the interest too?
Please don't laugh. Thanks.
No laughing here :)
There is no 100% reliable way to make $200 a month with a $20k investment. Investing in stocks will only get you around halfway there, and that's averaged over long periods of time, not garunteed every month. Savings accounts will only get you $200 a year, not a month.
Here are some creative ideas instead.
- Buy and sell with Craigslist/auctions/garage sales. if you have $20k sitting around, it can be put to use purchasing things to flip on your local classifieds. It takes a little work, but if you put in the time and make smart but/sell decisions you will have no trouble making over $200/m on top of paying for your time spent.
- Start a small or part time business. $20k is more than enough to start many small home-based businesses. Choose something you are good at and get yourself out there.