How myLot Pays Me 7 Additional Payouts a Year without Sending a Single Penny to My Account
By Jim Bauer
@porwest (90118)
United States
August 24, 2024 10:49am CST
I talk about this all the time and have explained it several times as well. But it happens that the question does pop up from time to time in certain comments when I talk about Bubblews, its demise, and the fact that the site never stopped paying me and continues to pay me to this day.
When these sites pay out, I never spend a dime of it. It's a rule. It's like any money I make from anything I do. "Earn it once and let it earn for you forever."
Granted, when it comes to paychecks that's not practical. But when it comes to extra money from online efforts? It is not only practical, it's sensible to make it do something for you.
I invest every single penny I earn into dividend paying stocks. Namely an S&P 500 tracking fund that pays me roughly 7%.
Now, it's certainly not life changing money. But when I look at my lifetime earnings on myLot, the result of having invested it instead of spending it now allows me to make roughly $35 a year—that's like getting 7 payouts from myLot for having done nothing at all, and turns what isn't a residual paying site for content one in which will earn for me forever so long as the principle remains invested.
Even long after myLot shuts its doors, myLot will continue to pay me forever. Just one more thing to think about when it comes to the power of money and what it can do for you if you make it work for you.
6 people like this
6 responses
@LindaOHio (178046)
• United States
25 Aug
We eat my profits and don't look back! lol I'm glad the investing is working for you. Have a good day.
1 person likes this
@LindaOHio (178046)
• United States
25 Aug
@porwest Exactly. We are trying to enjoy ourselves more than we did decades ago.
2 people like this
@porwest (90118)
• United States
25 Aug
@LindaOHio Even at my young age I know the timeline is very different, and so we use money very differently as a result.
When you are 51, saying "30 years from now I will," is just not a thing. I hope to live into my 90s, the question is what will my quality of life be?
1 person likes this
@LouieWpHs04 (4555)
• United States
24 Aug
Might as well reinvest it all, cumulatively it adds up and that's what its all about in the end.
1 person likes this
@porwest (90118)
• United States
24 Aug
Generally speaking, that is exactly what I do. When it comes to investing, at least for me, I have some very strict rules about how dividends and gains are used. Granted, these days the main source of my income is FROM dividends, so I have had to change the rules a bit. But the more I save, the more I invest, the less money from other sources of income are needed, and before you know it...everything becomes gravy. lol
BTW, noticed you have been off the site for about 10 years, so welcome back.
1 person likes this
@lovebuglena (44504)
• Staten Island, New York
27 Aug
Smart move. Do you take anything out from what you earn on these investments? Or you never touch a penny?
@thislittlepennyearns (62185)
• Defuniak Springs, Florida
24 Aug
I need to spend more time here, but I earned ten dollars on my side hustle game app in one day- so I've been spending more time there. Gotta go where the money is.
@RevivedWarrior (2188)
• India
25 Aug
In short, you are shifting to an asset class which would provide you regular dividends. In fact , that is what most of my salaried friends and acuqaintance do. They invest in stocks and mutual funds and have the compund interest work for them. Most of them invest in regular dividend yielding stocks and they get good dividends throughout the year. I also liked the concept because paid per post sites often die after long in case their models fails. Long ago, I have seen it with today.com . Pretty good suggestion!