How to get 5.24% Interest Compounded Monthly

Yes, it's true, and all it will take is about $41 to get started.

Step 1
Go to tdameritrade and open an account. There is no fee to open nor maintain an account.

Step 2
Link your bank account and deposit some money. Note for this to work you will need about $41.

Step 3
The next time the market is open, buy 1 share of JNK. There are no commissions to buy JNK through TDAmeritrade.

Step 4
Send them an email through their secure message center and ask that your entire account be enrolled in DRIP.

That's it, every single month about 18-21 cents will be deposited into your account, and then immediately be used to purchase fractional shares. Shares are purchased usually 1-3 days after the dividend pay date.

Warnings

• JNK is a junk bond fund, so it suffers from both interest rate risk and credit risk.
• The dividend income from JNK is treated as ordinary income and it is not considered a qualified dividend.
• You can lose a lot of your principal as the price fluctuates up and down everyday.

Make sure to do your own homework and make your own decisions when investing.

I hope this post has been helpful to someone out there!