Make Extra Money Each Year -- Your Guide to Wealth
I've been thinking about earning extra income lately. You know, not the kind of income that's from your job, but side income gained from various sources. As such, I'll be sharing several ideas over the next few months that we all can use to earn some extra income. We all could use a bit more money, couldn't we? ;-)
My goal is to earn an extra $10,000 this year. I got to thinking what the value of an extra $10,000 would be if I was able to earn it and sock it away -- year after year after year. If I was able to do this and could earn 10% on my money, here's what I'd have after each of the periods detailed below:
- 10 years -- $159,374
- 20 years -- $572,750
- 30 years -- $1,644,940
- 40 years -- $4,425,926
Not bad, huh? And while $10,000 isn't simple to earn, it's not out of the realm of reason for most people either. So if you'd like a few ideas on how you can earn your extra $10,000 this year, stay tuned -- the ideas will be coming soon!
Are you not earning that much from the site or are you not considering that part of your income?
Posted by: jim | January 17, 2007 at 02:53 PM
You're a funny man. ;-)
Since I give away all the revenue from the site, I'm not counting it in the $10k.
Posted by: FMF | January 17, 2007 at 03:00 PM
Why not keep the revenue and invest it at the 10% and give away the huge amount in 30 years?
I look forward to the ideas on how to make an extra 10K. I'm really hoping they aren't anything like "get a second job" or "start a business" ;-).
Posted by: Lazy Man and Money | January 17, 2007 at 06:38 PM
Fill me in the ideas. What is your email address?
Posted by: Smarty | January 17, 2007 at 07:16 PM
I really enjoy your blog! I'm also looking forward to some ideas :)
Posted by: John Y. | January 18, 2007 at 06:16 PM
looking forward to reading about the ideas =)
Posted by: not confucius | January 19, 2007 at 07:48 PM
Awesome idea! I can't wait to read some of your money making ideas. What do you plan to do with the $10K once you earn it??
Posted by: Dave M | January 24, 2007 at 03:56 PM
Dave --
Put it into an index fund, what else? ;-)
Posted by: FMF | January 24, 2007 at 04:02 PM
I still have contacts with the university I attended. I keep in touch with one of my old professors, and he hired me to teach a lab section with his human anatomy class, as well as helping with grading, exam writing, and some computer work. I have a flexible work schedule, and I am only on campus 3-4 hours per week. Most of the grading/computer work I can do from home. I will make $4,800 this semester for my work, and probably the same next semester. Try contacting a former professor or your university. Its a nice source of income, and I enjoy the work
Posted by: Chris | August 28, 2007 at 04:10 PM
Hi there! I'm a nurse trying to pay down $18,000 credit card to be paid off hopefully by sometime in 2009! A lofty goal, but do-able for the hard-working,like myself. So far, my only option is to work more long hours. Most of the time, the hassle and aggravation isn't worth the few extra bucks I get. Does anyone have any betters ideas to get out of my debt. I love to do a home business, but so far cannot find one I trust or that doesn't seem like a scam.
Posted by: Chocolatecookie | May 08, 2008 at 05:03 AM
CC --
Read this:
http://www.freemoneyfinance.com/2008/01/11-great-ways-t.html
Posted by: FMF | May 08, 2008 at 08:49 AM