I always wanted to be an inventor. That's when I started really thinking about how I could bring some extra money in, but without sacrificing that safety net that I had built at my job.
High-yield savings accounts (HYSAs) are insured by the Federal Deposit Insurance Corporation or the National Credit Union Administration up to $250,000, per depositor, per insured institution.
Step away from those individual stocks. Forget I bonds and laddered portfolios of individual Treasury Inflation-Protected Securities. If you're a satisficer, they're not for you. Reduce your number of accounts and the holdings within them.A portfolio with fewer moving parts is easier to oversee and simpler to document in case your loved ones or a financial advisor needs to take the wheel.
At lower portfolio sizes, income investing feels like something of a compromise. A 4% yield on $200,000 gives you $8,000 a year, which is barely $667 a month, so it's supplemental income at best. However, jump up to $500,000, even a moderate 5% blended yield can produce $25,000 a year, or right around $2,080 monthly.
