Stack of coins growing into dollars and financial wealth for beginner investing
Stack of coins growing into dollars and financial wealth for beginner investing
Stack of coins growing into dollars and financial wealth for beginner investing

Give Yourself a Raise: How to Earn Extra Income Beyond Your 9 to 5

Looking forward to a pay raise? Why wait? Give yourself one. Smart saving and investing could give you the extra income you’ve been hoping for, or at the very least, offer a new perspective on earning a little extra dough.

Looking forward to a pay raise? Why wait? Give yourself one. Smart saving and investing could give you the extra income you’ve been hoping for, or at the very least, offer a new perspective on earning a little extra dough.

Be Smart with Your Extra Cash

Investing isn’t just for the well-off or those with a deep understanding of the market. It’s for anyone aiming to make their money work harder. By exploring options that offer more earning potential than what’s typical of traditional savings accounts, you can start to see how a few easy choices could make a big difference.

Money Making Moves

Higher Yields: Look for opportunities that can surpass the average savings account. With higher interest rates in recent years, it’s not unrealistic to earn rates over 5%, even on low-risk investments.*

Regular Income Streams: Investments with regular interest payments or dividends are great for those looking to boost their income. The magic of compounding can make a big impact on your investments balance in the long run.

Flexibility and Security: Opting for investments you can liquidate without penalties offers peace of mind as well as accessibility. Moreover, choosing options that can guard against inflation and/or are backed by credible entities helps to ensure your investment’s safety and purchasing power over time.

Decide the Best Way to Boost Your Income

While savings accounts offer ease and security, they often fall short on growth potential. An alternative such as T-Bill ETFs, can provide the yield, flexibility, and security essential for your well-deserved “raise”.

Crunch the Numbers

Imagine you want to earn an extra $1,000 of income over the course of a year through smarter saving and investing. If you find an opportunity that offers a 5% return annually, you might wonder, “How much do I need to invest to achieve this goal?”

The math is pretty straightforward: If you want to earn $1,000 from an investment that returns 5% per year, you would need to invest $20,000. Here’s how it works:

To find out how much you need to invest to get that $1,000 from a 5% return, you divide the amount you want to earn ($1,000) by the return rate (5% or 0.05). If you want to earn $2,000 in annual income from a 5% return, you would need to invest $40,000 ($2,000 / 0.05).

Now, you might be thinking, “I don’t have $20,000 lying around!” And that’s perfectly okay. The beauty of investing is that you don’t need to start with a large sum. You can begin with much less and gradually build your way up!

Starting Small and Growing Over Time

Even if you don’t have $20,000 to invest right away, you can start with a smaller amount and contribute to your account regularly. For example, if you can save $100 from each paycheck, simply set that aside in your investment(s) of choice. Over time, these contributions will add up, and thanks to compounding interest, your investment could grow faster than you might expect.

Here’s where Beanstox comes in handy: With Beanstox, you can automatically set this money aside for your investment account, making it easier than ever to stay consistent with your recurring investments. This automation takes the hassle out of manually transferring funds and ensures you’re steadily working towards your investment goals.

The key takeaway here is not the amount you start with but the habit of consistently investing and letting your money work for you. This approach is a practical way to give yourself a raise, leveraging what savings you do have to generate additional income over time. Check out the Beanstox Power Savings account to learn more.


*Disclosures:
5% based on the 30-day SEC yield of the Beanstox short-duration bond portfolio ETF constituents. The 30-day SEC yield is a standard metric defined by the U.S. Securities and Exchange Commission (SEC) and reflects the dividends and interest earned during the period after the deduction of the ETF’s expenses. There are no assurances that this yield will be sustainable in the future. This product invests in one or more ETFs. Results may vary due to expenses and other factors.

Get Started With Beanstox

Set yourself up for a better future, with the freedom and security that come from having a growing portfolio. Download Beanstox and set up your automated recurring deposits today!

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Woman saving money with Kevin O'leary lesson

Next time you’re about to make an impulsive purchase, think about the long-term benefits of investing that money instead. The power to transform your financial future lies in your hands, and Beanstox is here to help you along the way.

Woman saving money with Kevin O'leary lesson

Next time you’re about to make an impulsive purchase, think about the long-term benefits of investing that money instead. The power to transform your financial future lies in your hands, and Beanstox is here to help you along the way.

Woman saving money with Kevin O'leary lesson

Next time you’re about to make an impulsive purchase, think about the long-term benefits of investing that money instead. The power to transform your financial future lies in your hands, and Beanstox is here to help you along the way.

When the stock market drops by 10% or more, it's natural to feel worried. However, instead of selling your investments, there are good reasons to consider buying more.

When the stock market drops by 10% or more, it's natural to feel worried. However, instead of selling your investments, there are good reasons to consider buying more.

When the stock market drops by 10% or more, it's natural to feel worried. However, instead of selling your investments, there are good reasons to consider buying more.

Unless indicated differently, data is as of 06/30/2024.


*Disclosures

1. Pricing: Free with Beanstox Simple. Learn About Pricing.

2. Power Savings: As of June 30, 2024, traditional US Savings Account Rate: 0.45% (YCharts); T-Bill yield: 5.20% (YCharts); 5% based on the 30-day SEC yield of the Beanstox short-duration bond portfolio ETF constituents; the 30-day SEC yield is a standard metric defined by the U.S. Securities and Exchange Commission (SEC) and reflects the dividends and interest earned during the period after the deduction of the ETF’s expenses. There are no assurances that this yield will be sustainable in the future. This product invests in one or more ETFs. Results may vary due to expenses and other factors. T-Bill yield as of 06/30/2024 is 5.20%. Source YCharts.

3. Stocks 500: Where applicable, as of June 30, 2024, S&P 500 return assumes an initial $1,000 investment, 40-year annualized return of 11% (Source: Bloomberg Finance LP). It is not possible to invest directly in an index. This product invests in an ETF aiming to track the S&P 500’s performance. Results may vary due to expenses and other factors. Returns before ETF fees. Diversification is not a guarantee of profit or protection against loss.

4. Wealth Builder: Saving $400/month over 40 years, but not investing and assuming no interest accrual, would accumulate $192,000; however, investing the same $400/month, could add up to over $1million over the same period of time. This projection illustrates a hypothetical example of compounding over time, based on an investment of $400 per month for 40 years with an assumed annualized returns of 7% or more, compounded monthly, assuming the funds stay invested throughout the investment period.

5. All corporate logos are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.

6. App store rating is as of June 30, 2024, and is based upon all ratings and reviews received by Apple App Store and Google Play Store (collectively, the “App Stores”) submitted since the Beanstox app was available on each App Store. Current rating can be found on Beanstox’s app preview in each App Store and is subject to change. App Store rating is generally calculated and generated by each App Stores based on the average of all total Beanstox app ratings. No compensation was exchanged for reviews or ratings. Rating may not be representative of the Beanstox client experience, advisory services, or investment performance. For more information, see more reviews at the App Store and Google Play Store

Beanstox Inc. (“Beanstox”) is an SEC registered investment adviser and has arranged for brokerage services to be provided by DriveWealth LLC., a registered broker-dealer and member of FINRA/SIPC. DriveWealth is not affiliated with Beanstox.

Investing in securities involves risks, and there is always the potential of losing money when you invest in securities. Before investing, consider your investment objectives and risk tolerance levels and Beanstox’s charges and expenses. The information provided herein is for illustrative purposes only and does not constitute personalized investment advice, recommendations or solicitations to hold, buy or sell any investment or security of any kind. Beanstox’s internet-based advisory services are designed to assist clients in achieving investment goals. They are not intended to provide comprehensive tax advice or financial planning with respect to every aspect of a client’s financial situation and do not incorporate specific investments that clients hold elsewhere. For more details, see our Form ADV Part 2A and Part 3 CRS and other disclosures.

All images and return figures shown are for illustrative purposes only and are not actual customer or model returns. Actual returns will vary greatly and depend on personal and market conditions. Past performance does not guarantee future results. Google Play and the Google Play logo are trademarks of Google, Inc. Apple, the Apple logo, and iPhone are trademarks of Apple, Inc., registered in the U.S.

Our site uses cookies and other similar technologies so that we can remember you and understand how you and other visitors use our site. Please see Beanstox Privacy Policy for more information.

© 2024 Beanstox Inc.


Copyright © 2024 Beanstox. All Rights Reserved

Unless indicated differently, data is as of 06/30/2024.


*Disclosures

1. Pricing: Free with Beanstox Simple. Learn About Pricing.

2. Power Savings: As of June 30, 2024, traditional US Savings Account Rate: 0.45% (YCharts); T-Bill yield: 5.20% (YCharts); 5% based on the 30-day SEC yield of the Beanstox short-duration bond portfolio ETF constituents; the 30-day SEC yield is a standard metric defined by the U.S. Securities and Exchange Commission (SEC) and reflects the dividends and interest earned during the period after the deduction of the ETF’s expenses. There are no assurances that this yield will be sustainable in the future. This product invests in one or more ETFs. Results may vary due to expenses and other factors. T-Bill yield as of 06/30/2024 is 5.20%. Source YCharts.

3. Stocks 500: Where applicable, as of June 30, 2024, S&P 500 return assumes an initial $1,000 investment, 40-year annualized return of 11% (Source: Bloomberg Finance LP). It is not possible to invest directly in an index. This product invests in an ETF aiming to track the S&P 500’s performance. Results may vary due to expenses and other factors. Returns before ETF fees. Diversification is not a guarantee of profit or protection against loss.

4. Wealth Builder: Saving $400/month over 40 years, but not investing and assuming no interest accrual, would accumulate $192,000; however, investing the same $400/month, could add up to over $1million over the same period of time. This projection illustrates a hypothetical example of compounding over time, based on an investment of $400 per month for 40 years with an assumed annualized returns of 7% or more, compounded monthly, assuming the funds stay invested throughout the investment period.

5. All corporate logos are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.

6. App store rating is as of June 30, 2024, and is based upon all ratings and reviews received by Apple App Store and Google Play Store (collectively, the “App Stores”) submitted since the Beanstox app was available on each App Store. Current rating can be found on Beanstox’s app preview in each App Store and is subject to change. App Store rating is generally calculated and generated by each App Stores based on the average of all total Beanstox app ratings. No compensation was exchanged for reviews or ratings. Rating may not be representative of the Beanstox client experience, advisory services, or investment performance. For more information, see more reviews at the App Store and Google Play Store

Beanstox Inc. (“Beanstox”) is an SEC registered investment adviser and has arranged for brokerage services to be provided by DriveWealth LLC., a registered broker-dealer and member of FINRA/SIPC. DriveWealth is not affiliated with Beanstox.

Investing in securities involves risks, and there is always the potential of losing money when you invest in securities. Before investing, consider your investment objectives and risk tolerance levels and Beanstox’s charges and expenses. The information provided herein is for illustrative purposes only and does not constitute personalized investment advice, recommendations or solicitations to hold, buy or sell any investment or security of any kind. Beanstox’s internet-based advisory services are designed to assist clients in achieving investment goals. They are not intended to provide comprehensive tax advice or financial planning with respect to every aspect of a client’s financial situation and do not incorporate specific investments that clients hold elsewhere. For more details, see our Form ADV Part 2A and Part 3 CRS and other disclosures.

All images and return figures shown are for illustrative purposes only and are not actual customer or model returns. Actual returns will vary greatly and depend on personal and market conditions. Past performance does not guarantee future results. Google Play and the Google Play logo are trademarks of Google, Inc. Apple, the Apple logo, and iPhone are trademarks of Apple, Inc., registered in the U.S.

Our site uses cookies and other similar technologies so that we can remember you and understand how you and other visitors use our site. Please see Beanstox Privacy Policy for more information.

© 2024 Beanstox Inc.


Copyright © 2024 Beanstox. All Rights Reserved

Unless indicated differently, data is as of 06/30/2024.


*Disclosures

1. Pricing: Free with Beanstox Simple. Learn About Pricing.

2. Power Savings: As of June 30, 2024, traditional US Savings Account Rate: 0.45% (YCharts); T-Bill yield: 5.20% (YCharts); 5% based on the 30-day SEC yield of the Beanstox short-duration bond portfolio ETF constituents; the 30-day SEC yield is a standard metric defined by the U.S. Securities and Exchange Commission (SEC) and reflects the dividends and interest earned during the period after the deduction of the ETF’s expenses. There are no assurances that this yield will be sustainable in the future. This product invests in one or more ETFs. Results may vary due to expenses and other factors. T-Bill yield as of 06/30/2024 is 5.20%. Source YCharts.

3. Stocks 500: Where applicable, as of June 30, 2024, S&P 500 return assumes an initial $1,000 investment, 40-year annualized return of 11% (Source: Bloomberg Finance LP). It is not possible to invest directly in an index. This product invests in an ETF aiming to track the S&P 500’s performance. Results may vary due to expenses and other factors. Returns before ETF fees. Diversification is not a guarantee of profit or protection against loss.

4. Wealth Builder: Saving $400/month over 40 years, but not investing and assuming no interest accrual, would accumulate $192,000; however, investing the same $400/month, could add up to over $1million over the same period of time. This projection illustrates a hypothetical example of compounding over time, based on an investment of $400 per month for 40 years with an assumed annualized returns of 7% or more, compounded monthly, assuming the funds stay invested throughout the investment period.

5. All corporate logos are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.

6. App store rating is as of June 30, 2024, and is based upon all ratings and reviews received by Apple App Store and Google Play Store (collectively, the “App Stores”) submitted since the Beanstox app was available on each App Store. Current rating can be found on Beanstox’s app preview in each App Store and is subject to change. App Store rating is generally calculated and generated by each App Stores based on the average of all total Beanstox app ratings. No compensation was exchanged for reviews or ratings. Rating may not be representative of the Beanstox client experience, advisory services, or investment performance. For more information, see more reviews at the App Store and Google Play Store

Beanstox Inc. (“Beanstox”) is an SEC registered investment adviser and has arranged for brokerage services to be provided by DriveWealth LLC., a registered broker-dealer and member of FINRA/SIPC. DriveWealth is not affiliated with Beanstox.

Investing in securities involves risks, and there is always the potential of losing money when you invest in securities. Before investing, consider your investment objectives and risk tolerance levels and Beanstox’s charges and expenses. The information provided herein is for illustrative purposes only and does not constitute personalized investment advice, recommendations or solicitations to hold, buy or sell any investment or security of any kind. Beanstox’s internet-based advisory services are designed to assist clients in achieving investment goals. They are not intended to provide comprehensive tax advice or financial planning with respect to every aspect of a client’s financial situation and do not incorporate specific investments that clients hold elsewhere. For more details, see our Form ADV Part 2A and Part 3 CRS and other disclosures.

All images and return figures shown are for illustrative purposes only and are not actual customer or model returns. Actual returns will vary greatly and depend on personal and market conditions. Past performance does not guarantee future results. Google Play and the Google Play logo are trademarks of Google, Inc. Apple, the Apple logo, and iPhone are trademarks of Apple, Inc., registered in the U.S.

Our site uses cookies and other similar technologies so that we can remember you and understand how you and other visitors use our site. Please see Beanstox Privacy Policy for more information.

© 2024 Beanstox Inc.


Copyright © 2024 Beanstox. All Rights Reserved