This past week I earned approximately $84.95 using Prolific, Amazon Mechanical Turk (MTurk), and Honeygain. I say approximately because Prolific pays with the British Pound and the exchange rate varies from day to day. And all of the sites I used take a couple of days to process payment, so while I earned $84.95 I won’t have all of that in my bank account at the beginning of next week. But with about $20 left from my initial $100 funding plus the $84 I earned this week, I should be able to pick up a few more stocks that pay monthly dividends.
Conventional wisdom says to diversify, so I have been researching a few other monthly dividend stocks to invest in. I found that there are a small number of stocks that pay monthly dividends and they’re usually related to real estate. Last week when I initially funded my brokerage account I bought 2 shares of SLG. While I think SLG is a great long-term play, they do pay a little higher than what might be considered safe in the near-term. But that’s why SLG was my first pick. I’ll likely continue to invest in it.
I know you’re not supposed to chase yield, so I am trying to find a good balance between yield and long-term stability. Because of that I’ve also been looking at O and MAIN, but these might be a little too safe in the near-term for the initial return I am looking for. I am also considering AGNC and PSEC. PSEC is probably the safer play between the two because while AGNC is popping up on a lot of reputable investing sites, I just don’t see how the dividend is sustainable long-term. I want to buy these stocks and forget about them.
Lastly, I want to further clarify The Rules of the Game. When I’m talking about Beer Money, I’m using the definition from the Reddit forum /r/Beermoney. Here’s their definition:
Beermoney is online money-making opportunities. These are things that (usually) will not allow a user to make a living, but it can help provide some extra cash on the side for your habits or needs. Not all money-making opportunities are considered beermoney though. We are just one branch.
The key points
- The opportunity must be entirely online and be able to be completed by a large number of users.
- The pay must be somewhat reasonable. Most of /r/beermoney does not pay well, but no one should work for pennies on the hour.
- Earnings must not depend on an unaffiliated person. (i.e.: No selling, affiliate marketing, referral-only methods, sales, etc)
- The work must be repeatable. (i.e.: Even though you only complete a single survey one time, you can get another survey from the same site. It’s not a one-time job.)
- The site must offer at least one of the following payment methods: PayPal, Venmo, check, direct deposit, or gift cards. This excludes donations, giveaways, raffles, competitions, or any other reward that the user is not guaranteed to receive.
- There must be an allowed method of earning money aside from a signup bonus and/or referrals.
- It is not employment. These are things that can be picked up at any time (if work is available) and dropped without a penalty (aside from inactivity punishments).
That’s it for this week. I hit the goals I set for myself this week and I’m at 2 out of 9 goals completed for 2023. I may add new goals as the year progresses, but for now I think they are fairly realistic and achievable. I’ve updated my Income and when I purchase new stocks I will update my Assets.