myLot Money More Valuable Than You Think
By Jim Bauer
@porwest (92404)
United States
September 7, 2022 10:13am CST
When the topic comes up, which it often does, what do you do with your myLot earnings, I always tell people I invest it.
It's not life changing money and I would never allude to that. And of course I would never recommend investing to anyone that does not have a grasp of doing it. I do strongly encourage learning about it though, because that can be life changing money.
I thought it would be fun to create a list of stocks you could invest in that pay dividends to illustrate what just $60—if you made ONLY the $5 payout each month—would pay you in return.
These numbers won't make you fall out of your chair, of course. But I think the extra pennies possible are at least interesting to look at and to share.
Here is what $60 invested would earn you in a year:
McDonald's (MCD), $1.27
Walmart (WMT), $1.01
Ford Motor Company (F), $2.40
Coca-Cola (KO), $1.76
Exxon Mobil (XOM), $2.25
Lamar Advertising (LAMR), $3.07
PepsiCo (PEP), $1.61
Toyota Motor Corp (TM), $1.05
Darden Restaurants (DRI), $2.32
Yum! Brands (YUM), $1.19
Target Stores (TGT), $1.56
AT&T (T), $3.89
Again, none of this is wow money. None of it is life changing. But the idea remains the same. Something I say all the time. Money makes money. Money spent makes nothing at all.
Beyond that, many people make much more than $60 in a year here. Many more make much more than that combined from all of their online efforts.
Investing it, to me, just makes sense. And doing that, even when sites like this no longer exist to pay you anymore, the money never stops making more money for you long after the last post is published.
Just something to think about.
19 people like this
15 responses
@lovebuglena (44713)
• Staten Island, New York
7 Sep 22
My young nephew used to say something like: you need money to make money. Guess he was right.
3 people like this
@lovebuglena (44713)
• Staten Island, New York
7 Sep 22
@porwest Why specifically 51%?
2 people like this
Even at that, I'd still want a controlling share. 51%. So...there's that. lol@porwest (92404)
• United States
8 Sep 22
@lovebuglena Because 51% is a controlling share. If one has 1% more power to make decisions that is the deciding vote.
With a 51% share you are an automatic majority.
1 person likes this
@DaddyEvil (137460)
• United States
7 Sep 22
My myLot payouts ends up being used to help pay bills.
2 people like this
Luckily, I make more than $5 here in a month. @porwest (92404)
• United States
8 Sep 22
@DaddyEvil Me too. But it is still not enough to make any real dent on anything. lol
1 person likes this
@GardenGerty (160879)
• United States
10 Sep 22
I always say that I let my myLot money go into paypal and hold hands with my other earnings there. Then it is even stronger and more substantial.
2 people like this
@Treborika (17850)
• Mombasa, Kenya
22 Sep 22
Yes one plus one equals to two and so on
1 person likes this
@moffittjc (121656)
• Gainesville, Florida
8 Sep 22
Very interesting discussion Jim, and spot on. Many people are afraid to get into the stock market or into investing because they think it takes big sums of money. It doesn't. Like you said, even taking the $60/year earned here at myLot and buying one or more of the stocks you listed, you've now got your foot in the door. I've always believed that putting whatever you can afford into investments is a step in the right direction, no matter how small. A journey of a thousand miles begins with the one step. A journey to a million dollars (or thousand dollars) begins with one dollar. Small amounts invested regularly will eventually add up to big amounts.
1 person likes this
@moffittjc (121656)
• Gainesville, Florida
24 Sep 22
@porwest I, too, started with nothing. I began investing in my young 20s when I was in college, working three jobs and in debt up to my ears trying to pay my way through school without having to take out tens of thousands of dollars in loans. Anyway, I was working at Walmart at the time, and set up automatic payroll deduction for their stock purchase. We were able to buy their stock at a 10% discount, so without even knowing anything about the stock market, I knew I was earning a 10% return right there. I started with something measly, like $1 per paycheck or something, and just keep increasing it every now and then. I found that when I made increases incrementally, I didn't notice the corresponding decrease in my take home pay. I can't remember the exact amount, but when I left the company 7 years later I was having something like $100 taken out of each paycheck for stock purchase.
1 person likes this
@porwest (92404)
• United States
27 Sep 22
@moffittjc Walmart has been a great investment for a very long time, and the fact that the company allows employees to buy stock is one of the "hidden" parts of their compensation package few people pay attention to.
The thing about the stock market is this, and it the part most people miss. "If you are angry at the people who run these businesses because they are making so much money, why NOT become an owner?" And that is exactly what you become when you buy the stock. You become an owner. You OWN the company, you share in the profits, you succeed WITH them, and if more employees realized this, imagine the contribution they would make individually to contribute to a better customer experience? Because they now have skin in the game. Because what they do matters to their own bottom line as well.
One thing that the stock market has ALWAYS done is let us be fat cats too. Or at least to play along WITH them. A LOT of people miss that part.
If there was ever an example of the saying, "If you can't beat them, join them," it's the stock market.
When I own shares in Walmart, I am not just a guy who shops there. I am a guy who literally owns a piece of each and every Walmart store, and because they pay a dividend, every time they make money? I make money too. We SHARE in the profits.
1 person likes this
@porwest (92404)
• United States
22 Sep 22
You said it all here. Patently true. I think that usually IS the biggest hurdle beyond knowing what to do and how to do it and that's that people tend to think it takes a lot of money to get started. It doesn't. I have tried to convey that many, many times and it unfortunately falls on deaf ears most of the time.
It sounds silly, but I have money now because I started with nothing, not with something.
That was, of course, part of my point with this discussion. Small amounts really do add up to bigger amounts.
1 person likes this
@aninditasen (16505)
• Raurkela, India
8 Sep 22
It's a good idea. I think I should think seriously about investment.
2 people like this
@aninditasen (16505)
• Raurkela, India
9 Sep 22
@porwest To invest in foreign companies I think we need to have an account in some foreign bank. Isn't it?
1 person likes this
@porwest (92404)
• United States
8 Sep 22
I think all people should know about it just as much as anyone knows about anything. Money may not be the most important thing, but it is still a pretty important thing. We'd have far less poverty in the world if more people knew how to participate in wealth creation.
I actually think it should be taught in schools, and as a result, taxpayers would likely save a lot of money by not having to support as many social programs as we have now.
2 people like this
@Nakitakona (56486)
• Philippines
14 Sep 22
I have never dared to invest my retirement money. I'm afraid of risking it.
2 people like this
@porwest (92404)
• United States
14 Sep 22
The biggest risk one takes is not investing their money. Cash loses money and so does putting it into a savings account. The key is to invest in good, solid businesses that have a long, consistent, and proven track record of making profits, and that offer strong dividends.
Those who invest their money retire when they want to. Those who do not have to wait.
1 person likes this
@Nakitakona (56486)
• Philippines
19 Sep 22
@porwest In one of reading, the best business to invest retirement money is for real estate and development. Some say it's good for stock exchange investment.
1 person likes this
@Treborika (17850)
• Mombasa, Kenya
22 Sep 22
You could have invested in the real estate. The risk here is very minimal or none at all
1 person likes this
@RebeccasFarm (90295)
• Arvada, Colorado
7 Sep 22
If you spent 60 investing in those you listed, then it would only cost you 40 say..as if you add all those up it comes to around 20.
And of course ongoing amounts youd make for future years.
But, can you still buy stock in any of these that you listed?
I wouldn't have a clue.
1 person likes this
@porwest (92404)
• United States
22 Sep 22
This was really just for illustrative purposes. Some of these stocks cost more than the $60 to buy one share. But there are platforms like Acorn and Robinhood that allow people to buy shares fractionally. In any event, investing is always a good idea and I think people should take the time to learn about it just as much as they may learn about anything.
The funny thing about money is that it is something everybody wants more of, but few people actually learn how to GET more of.
People tend to think in terms of second jobs and side-gigs, selling things and doing surveys and things like that, but fail to understand that through solid money management, saving and investing...
You don't need those things. On top of that, over time, you don't even need a job at all anymore. Moreover, all those other things take lots of time and lots of effort for very little gain, and investing is mostly passive.
Sure. It takes some know how. But again, learning is simply a process of beginning to know—and once you know something, doors open wide. But one never knows anything if they never start to know.
1 person likes this
@RebeccasFarm (90295)
• Arvada, Colorado
24 Sep 22
Oh yes I know it Jim..it is not hard to do with a bit of studying instead of working your ... off for peanuts.@porwest
1 person likes this
@porwest (92404)
• United States
25 Sep 22
@RebeccasFarm Precisely. Working is noble, but having more time to be free from it is fun. lol
@LindaOHio (181243)
• United States
8 Sep 22
I'm sure this information will be of use to some of our members. Thanks for posting.
1 person likes this
@yoalldudes (35037)
• Philippines
7 Sep 22
I just love reading your money posts. They're motivating. At first it was silly as well to save the money earned on myLot but now I am saving them. Now you are making me do one step further which is investing it. Money makes money cheers to that!
1 person likes this
@porwest (92404)
• United States
5 Nov 22
@yoalldudes I would definitely not listen to whoever makes that kind of a statement. There is never a time when not saving makes sense.
I mean, you have to live and spend. But when one saves, they can spend the proceeds rather than the principal, and of course one has much better peace of mind and protection from disaster.
@yoalldudes (35037)
• Philippines
2 Nov 22
@porwest There are ominous youtube videos who says we should stop saving. They are such a discouragement.
1 person likes this
@porwest (92404)
• United States
7 Sep 22
There is a reason we have rich and poor in this world, and I try to find multiple ways to illustrate the reason. What we do or do not do with our money directly determines how well off or how poor we are financially.
The problem for me is when so many people without money blame everyone else, the rich, circumstances, and the system for their money problems in life.
Posts like these are hopefully useful in that it let's people see things in a better perspective. In life it is always easier to make excuses than to commit to action.
5 people like this
@Henmanth3377 (45)
•
23 Sep 22
Feeling difficulties to earn online now a days so may investment sites ill scam in no time..
1 person likes this
@porwest (92404)
• United States
28 Sep 22
@Henmanth3377 Because investing is not a scam, which is why I mentioned it.
@mythociate (21432)
• Oklahoma City, Oklahoma
7 Sep 22
I think of it as 'gift-money from our benevolent hosts.' And I usually spend it on pizza & candy.
1 person likes this
