Tip of the Day: 8 Investments That Can Pay You Monthly

With research and planning, you can create a steady stream of income.

When it comes to investments, patience is a necessary virtue. Buying stock, for example, generally doesn’t yield a penny until you can sell it for more than what you paid. But this doesn’t mean that investments pay off only in the long run. In fact, veteran investors will tell you that these eight assets can make money for you in one month.

Savings accounts. They are safe, reliable, highly liquid and easy to open. Savings accounts usually don’t pay enough interest to outpace inflation. But, these highest-paying savings accounts come close. Certificates of deposit (CDs). This investment can be safe and simple, like a savings account, though not as liquid. CD terms can range from 3-months to 5 years. And, again, even the best-paying CDs likely won’t beat inflation.

Dividend-paying ETFs. This asset can pay shareholders regular income and reward their diligence as it appreciates in value over time. While dividends generally get paid annually or quarterly, dividend exchange-traded funds (EFTs) could offer you more ways to earn monthly income. Annuities. This insurance contract promises to pay you each month, but you’ll have to put money upfront to buy it. Annuity benefits can last from a few years to a lifetime. Though like with other investments, they can come with a degree of risk and sizable fees. Bonds. Corporations and governments go to the bond market to borrow money. And when you buy their bonds, you are acting as their lender. This asset can pay significantly higher interest rates than bank deposit accounts. And while most earn money annually, semiannually or at the end of the bond’s term, some can compensate you monthly.