If I only have about a few hundred dollars to invest each month, what are some methods I can use to grow my money long term?
I'm willing to take risks if my ROI is substantial. So, if it can start making money a few weeks after the initial investment, that would be great.
Initially, I'd love to have a few hundred dollars coming in each month until I really get the hang of things. I have a job, plus two businesses so I am looking for ways to generate passive income because I don't have time for much else.
A friend mentioned buying soda and vending machines as one opportunity, other than business, the only other ways I know of is by investing in the stock market, 401(k), rental properties or having an interest bearing savings/checking account.
Im 35 and I honestly don't want to depend on a $500/mo retirement check, I want to have built an empire for myself and by the time I'm retirement age so I can live off my own money. I see people over 70 working fast food and at Wal-Mart and I don't want that life for myself so I'm open to all suggestions as to how to build a firm foundation now so that I won't have to worry about it later.
As you can see, I'm quite new to knowing how to make money work for you so thank you all in advance for your patience with me.
(Side note, my software company allows me to generate passive income when users download software, so my focus has been on developing when Im not on the job. However development takes time and I am currently the only developer, so this is why I am looking for other ways to make money while I build my brand).