A second income and a second job do not have to go hand in hand. If I wanted to earn some extra money on a regular basis without working more hours, one approach could be investing in shares I expect to pay me dividends for owning them. As an example, if I had a spare £20K, I would put it in a Stocks and Shares ISA and invest it like this to target a £2K second income annually after just two years. By the way, the same approach could work with a lot less than £20K too, though if I invested less money my likely income would fall proportionately. Let’s start with the end in mind. Earning £2,000 per year from a £20,000 ISA could come from a dividend yield of 10%. There are some FTSE 100 shares that have such a yield, including M&G, Phoenix and Vodafone (although it has announced plans to cut its dividend). But 10% is an unusually high yield, as the coming Vodafone cut suggests. An alternative approach would be earning an average 8.5% yield and compound the dividends for two years. At that point, my ISA would be earning me a £2,000 annual second...