Comments on: Should You Concentrate or Diversify your Income Sources?

By: Andy Hough

Andy Hough — Tue, 10 May 2011 21:04:00 +0000

I agree that savings accounts are not a good option right now. My liquid money is in a high-interest checking account that pays 2.5%. That isn’t much but I need to keep the money somewhere and it is better than nothing.

By: John Vincent

John Vincent — Tue, 10 May 2011 19:46:25 +0000

I realis ethis is a pretty old pots but I only just came across it and I think it still has merit even two years on. Certainly time is a major handicap, I’m finding myself spread rather thinly across too many projects at the moment and am having to focus hard to get *any* of them done.
However I can say at the moment that investing in saving accounts etc in the current climate is a total waste of time as the average cost of living is increasing slightly faster than even the best savings accounst interest rates. Hence by simply leaving your money in an account to ‘grow’ effectivley means ‘losing’ money over time. I think maybe investing in shares etc on the other hand is a good option as everything is realy low and can, theoretically, only grow from here…

By: Andy Hough

Andy Hough — Fri, 26 Jun 2009 21:06:16 +0000

BB – I agree and I am going to focus more on opportunities with more potential.

By: Blogging Banks

Blogging Banks — Fri, 26 Jun 2009 13:32:35 +0000

I think you should be focusing only on opportunities that pay you residual, passive income. Buying a CD would earn you interest income without too much hassle. Opening a bank account for the bonus would also make you a nice $50-$200 for your effort.
Wasting your time on a survey could be fine, but sometimes that certain $3/survey company sends out surveys that take an hour to finish.. In addition to that they always send out short 5 minute questionnaires which are not paid..

By: Andy Hough

Andy Hough — Thu, 25 Jun 2009 21:05:33 +0000

I wasn’t sure if I was getting my point across in this post. I wasn’t feeling too articulate in writing it. Your example is what I was talking about although I don’t feel one needs to be as specialized as the factory worker to make good money.

By: Tommy

Tommy — Thu, 25 Jun 2009 02:05:01 +0000

I have to agree that focusing and specializing your income earning skills are the way to go if you want to earn big money.The day of the renaissnce man is behind us, the factory dweller doing the same piece of work over and over is the prince of the modern world.Still a person doesn’t always have to maximize what they earn to be happy.