Thursday, May 14, 2015

Post on passive investment, earning and profiting

My first post should be read before you read this one so you get a more rounded understanding of passive incomes.

Savings with higher interest rates
An easy passive income is saving and earning with a bank that has higher interest rates.                   Ally bank may not be the most credible bank but it was rated "Best Bank" by Money Magazine in 2012 so I'll take the plunge.  No monthly fees, no minimum balance and an APY rate of 0.99%, not the highest but you'll save enough that it won't matter much.
CD's 
No not Compact disks, CD's are an investment system for your and every bank.
A CD is a long term savings investment, here's an explanation: 
Time     return      the money made off of $2,000
1 year   (3.00%)         $60            
2 years (3.25%)         $65
3 years (3.50%)         $70
4 years (3.75%)         $75
5 years (4.00%)         $80

If you have some money saved up then invest in this system. 

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