Get Paid Any Day

Payday can be any day you want to work.

In my previous post I talked about our Social Security income and the income Cindie receives from working part-time as a baker. That results in 50 paydays this year. Dividends are another “payday” and we have had 86 paydays in the first nine months of the year. But that isn’t the only payday that is possible.

Consulting Work Can Pay Big Dollars

In 2009 I lost my job at Conney Safety Products. The company was purchased by a venture capital firm, and they eliminated many positions, including mine. However, that was a good thing. God was giving me other opportunities. One of my contacts at a software company put me in touch with a company called Prince Corporation. The company is located in Marshfield, Wisconsin.

My work there included helping them use their existing computer system to greater advantage. This included training them in the use of AS/400 query so that managers in purchasing, accounting, sales, and other parts of the business could mine the data they needed for making decisions without asking their limited IT staff to create a report for them. Of course, they paid for my travel expenses and also for work performed.

Investing has a similar opportunity. I can work when I want to and do the types of investing trades that suit my desires. However, I don’t have to travel, attend meetings, or do anything at all if I want to just take a day or a week off. So far this year I have had an additional 80 more paydays.

Eighty More Paydays

By trading options, including covered calls, cash covered puts, and rolling options, I have managed to increase our income by $58,285. Of course, this requires a base of stocks that can be traded weekly in the options market. However, I started small, and I believe any investor with a few hours each week can earn extra income before and during retirement.

In the illustration below, you will see two days when I had “negative” income. This was a prudent move. What I did was roll an options contract to a much higher price. It cost me something to do that, but it resulted in more cash coming from the sale of my shares. That is the exception and not the rule. Most days I work for positive cash flow.

The beauty of this “work” is that it takes very little time and can be stopped and started depending on what is happening in life. For example, when we are traveling I may or may not trade options. That is also a plus, because I can be anywhere I have an internet connection and still have a payday.

Total Paydays

Now that I have covered options trading income paydays, the number of paydays has increased from 136 to over 200. Of course, there is some overlap, but you get the idea. It is possible to have a lot of income with very little effort.

Recommendation

Don’t assume you aren’t smart enough to trade options. Also don’t assume that there is a lot of risk involved. However, it does take a bit of time and training to learn how to get this optional income. If you read my other posts about this topic, you can learn what you need to know to be successful.