Both of us like to find creative ways to make extra money. One way we have found to both help science and help ourselves, is to sign up for research studies.

In fact, James made approximately $2,100 in fiscal 2005 from voluntering for research studies at NIH. Miel made another $900 by forwarding the research for an HIV/AIDS vaccine. At today’s ING rate of 4% interest, that $3k will be worth over $12k when we retire in 35 years.

If we were to continue to be involved in similar studies and earned even $1,000 a year, that would give us over $88k by retirement. As an extra way to add to our savings bottom line, we find this to be well worth the sacrifice of time to aid science and earn money.

There are all sorts of studies to get involved with. Those for healthy individuals can be found at: NIH Health Studies

The National Institute for Health is a great resource in the DC Metro area, but there certainly may be opportunities in the area where you live as well. We’ve also earned smaller amount of monies for private sector marketing studies and research at local Universities.

MANAGE YOUR MONEY TOGETHER

Here are some simple guidelines for DINKS to build wealth:

1) Collaborate: Meet regularly to talk about money, set goals together, track and monitor them.

2) Understand and respect your partner. Take time to understand your partners values about money.

3) Watch the numbers. Get a budget, monitor your spending and track your net worth.

4) Max your retirement. Maximize contributions to your tax deferred retirement accounts.

5) Invest in stock. Stocks perform better than bonds or cash.

6) Avoid high interest debt. Credit cards and title loans are financial cancer.

7) Diversify. Don't put all your eggs in one basket.

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