I came up with an ambitious plan earlier this week while compiling a list of income events like dividend payments and bank interest.
You know how the Amateur Investor loves income from savings and dividends – well what if I could receive at least one dividend or interest payment every day. Wouldn’t it be great to receive money every day!
As I built an Excel spreadsheet which contained one cell for every day of the year, and entered details of income events like dividend payments, I realised just how many “income days” the Amateur Investor can already look forward to.
Regular monthly income such as salary payments and Cash ISA interest sit alongside quarterly, half-yearly and annual dividend payment from the various shares and funds to fill many of the days in the spreadsheet already.
In fact, I would estimate that on at least 75 days of the year the Amateur Investor receives money from one source or other.
“Income days“, in reality, would be weekdays as it would be unusual to receive income at the weekends when Banks and Stock Markets are closed.
So if we work on the rough calculation that there are 52 weekends in a year, that’s 104 days on which it’s not possible to receive such payments. Add a few bank holidays (Easter, May Day, Christmas Day, Boxing Day, New Years Day etc.) and of the 365 days in a year there are about 250 to 255 “income days” a year. Let’s use 250 as the figure as it’s nice and round.
Of the 250 income days in a year, I’m already receiving income on around 75 of those days so I’m already over a quarter of the way there! On 30% of the income days in a year there is some form of income being paid into my bank account!
The other 70% of income days better watch out, I’c coming to get you!
If you have ideas for sources of income for “income days”, please leave a comment.