“I’ll do the work, I’m gonna let my money relax” – Jerry Seinfeld
Poor choice. Letting your money put its feet up under a mattress or in a low interest bank account is like hiring an employee and not giving them anything to do.
It doesn’t make sense.
So as the manager of your money, it’s time to put those dollars to work and get them earning a wage.
Depending on the size of your workforce, here are three great jobs they could apply for.
If you’ve only got a small stash of cash, say $500, look at lending it. Banks and credit unions are always looking for more money to join their team, so look online for who pays the best wage and apply for a position.
If your workforce is bit stronger, at least $2000, then a portfolio management position is always an option.
At the small end, think about an index or managed fund. That way you get exposure to a large number of companies without having to buy them individually.
If you have a large amount of money already working at the bank or in the share market, you could consider a career change for some of your dollars. Property moguls are always in demand.
Investment properties offer terrific tax benefits if you’re in a high tax band, and if you can recruit more money to your workforce over time, this is a steady way to build wealth.
At the end of the day, these are just three thought provokers to give your lazy money something better to do. Because if you let it relax, it’ll be you who works harder to pay for it.
Image courtesy ally_costanzo, via Flickr