More people are embracing passive income channels in a bid to boost their income and gain greater freedom over their lives.
Passive income helps you acquire capital or money while you rest or focus on other more important aspects of your life. Unlike traditional income models where individuals relied upon a single salary as the sole income source, modern individuals are pursuing more income streams to get more money.
Dividend passive income refers to royalties, rents, or commissions you earn from selling or renting a resource or from providing a service.
More cash means better stability, healthcare, freedom, vacations, and time to focus on your passions. Thanks to the booming and ever-evolving modern economy along with technology, passive income is easy to make.
It is prudent for a modern individual to embrace more than one income stream to protect themselves from economic shocks, disabilities that may prevent you from earning with your hands, or sickness.
Here are some 10 awesome predictions for 2021 passive income means:
1. These Stocks In The NYSE Will Surge Highly
Stocks are equities in publicly traded companies. These companies do business then split the profits among shareholders. There are two ways to earn from stocks; dividends and stock value rise.
In dividends, one gets an equal amount of profit as the shares they hold while in the other method the shareholder gets nothing but their stock’s value rises significantly. They can then sell the share at a higher value than they bought and pocket the earnings.
These are the stocks expected to rally in the coming months:
- S&P 500 – after a rough year in 2020, this index is bound to surge amid a positive outlook on a better future with Covid-19 infections slowing along with death rates. Vaccines have started being rolled out along with operations in many industries being reopened.
- Nasdaq 100 – being tech-heavy, this index is bound to rise since big tech adoption is on the rise. Also, there is a surge of people working online from home and many businesses are also going online or have plans to.
- Dow Jones Industrial Average – major industrial companies are opening up, with recruitments seen off the charts. This means the economy will kickstart strongly amid a decreasing Covid-19 pandemic.
- Cryptocurrency Stocks – bitcoin, ethereum, and doge are seeing massive adoption among the civilian population right now with each gaining over 50 percent value in the first three months of the year. This shows a positive outlook on cryptocurrencies thus this is a good bet.
- Biotechnology Stocks – with a looming pandemic, companies that can make, and research the required drugs are bound to make a lot of money during this period.
- Logistics Stocks – logistics are highly valuable in this new economy where online shopping delivery companies have to track usage, spending, and delivery insights. Also, vaccine deliveries will be a huge business to these companies.
2. Peer to peer lending
In this case, you act as a bank and lend people money for them to pay later with interest which could range from 15 to 100 percent. You can do it manually by lending to your close friends or utilize lending platforms for more and better-paying customers.
These online platforms guarantee a degree of security by providing vetted individuals whose details you can hold for ransom.
Peer-to-peer lending will be at an all-time high in 2021 as most people need cash, yet cannot find banks to loan them as loan requirements have been raised owing to the bad economy.
The best periods are a week or two before payday as most people have depleted their previous salaries and are desperate for money. You can gain some sweet interest here without breaking any sweat.
3. Online Selling/Online Shops
With the advent of no-code tools, it is relatively easy for a non-tech person to set up an online shop.
Gone are the days when you had to commission a whole website, or rent shelves in supermarkets to sell your wares. You can set up a shop with Dropshipper, Shopify, or Amazon and advertise your goods to get sales. With a good advertising strategy, you can ship some goods every month and make a profit on the side.
A good rule of the thumb is to focus on emerging products such as air cleaning devices or home automation, or emerging issues such as security – sell automated security locks or security systems. Masks, air cleaners, face shields are going to be hot this year.
4. Blog Monetization
Blogs are the in-thing these days with lots of people rushing to start them. The secret is to be real, articulate real issues people are facing then provide solutions. This will attract people to view your articles thus view your ads.
You can make money off the quality content you provide people. Focus on topics you relate to and start a blog on that. Ways to monetize blog content include; Amazon affiliates, Ezoic affiliates, Gumroad affiliate Google Adsense and the E-bay partner network.
With the rise in internet and social media usage, blogs are going to be a big thing in 2021.
Are you a skilled writer? If so, you are wasting time if you have not already started earning from your books. You can provide copywriting, ghostwriting, or content writing services on freelance platforms such as Upwork and Freelancer and get paid.
There are also plenty of online book stores where you can list your books and get royalties every month. These include Amazon Books, Apple Books, Barnes and Noble, and Google Playbooks. With the rise in time spent online by individuals at home, book sales are expected to rise in 2021.
6. Online Courses
Are you by any chance a professional in any specialized field? Do you possess a rare skill? Are you gifted in any way? You can make money teaching people these valuable skills through the internet.
There are many platforms to help you market your courses or training material such as Udemy, Skillshare, Teachable, and Podia.
Due to high unemployment levels, people in 2021 are going to want to improve their skills or transition into new careers by learning new skills. Online courses are expected to rise in sales over the year, so it is best to start selling one now.
7. Vending Machines
Vending machines provide people with nourishment and drinks in places they could not otherwise access. The best thing is that they require very little overhead – only power and product stock.
The secret here is to scout areas and find the best location to place them for maximum sales. Even better, you can acquire vending machines on a financing basis if you have good credit. This means, you can finance the first machine, then after it has started bringing in substantial revenue, finance for another one, and so on until you have an empire of vending machines.
Stock it up with popular items such as popular canned beverages, yogurts, sweets, chocolate, and candy bars. Places with lots of kids and teens are best as they crave high sugar foods. At the end of the month, all you do is go withdraw cash and restock the machine.
That is easy money if managed properly. Post-Covid society will be eager to buy a lot as these are some of the freedoms they have had curtailed for months.
8. Real Estates Investments
There is nothing easier than investing in real estate. Here are some efficient ways to gain passive income in real estate this year :
Rentals – if you have some substantial savings, buy a small rental and charge tenants rent to return your savings. You also save money you could have otherwise spent on rent yourself.
Scout for areas where major companies are recruiting and buy there. Workers need affordable accommodation while working.
Fixing and Flipping – if you buy a rental and you do not want to wait long before recouping your cash, you can renovate and sell it for a higher price. With such a low economy, you will find a lot of discounted properties that you can buy cheaply, fix and sell for a higher value.
Real Estate Crowdfunding – individuals gather to contribute capital to purchase a property then own shares proportional to their contributions.
This is very effective for low-income earners as they have a chance at investing in high-value assets they could not otherwise afford to invest in. When the property is sold, the revenue is split according to the shares agreed upon.
This will be big in 2021 as the wave of Independence and investing sweeps all over.
Airbnb – for days you are camping or spending at other people’s homes, you can rent out your apartment on Airbnb and earn some spare cash for free.
Real Estate Stocks, Indexes, and REITs – the real estate stock market is expected to boom after a rough year. Accelerated economic activity will raise the estate’s values by mid-2021.
9. Social Media Channels
There are over 3 billion people globally with access to social media. That is a huge audience to which market products to. If you can leverage your online social media following to buy your products, it is easy to make lots of side cash.
Gathering a crowd of 20,000 people in real life is hard but online it is very easy. Imagine the potential of social media this year where most people have been accustomed to spending more than three hours of their daily lives on social media. That is a huge market to explore!
2021 is bound to see an explosion in social media marketing.
Not everyone wants to watch a movie or spend time on social media. Podcasts have become popular recently, especially as one can listen to them while working on other tasks such as household chores, traveling, or working out.
If you have important content, you can make audio podcasts on it and distribute them on the internet, if you become popular enough, you can incorporate adverts and make money online. Podcasts will be a big thing in 2021.
If you have any of the above-mentioned skills, it is a good time to utilize them and make free money on the web. Don’t waste any more time, take action!
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Since her teen years, Bethany Watson was always interested in writing and marketing, so she decided to merge these two passions by choosing the career of a journalist who mostly writes about trends in digital marketing and lifestyle advice. She regularly contributes to the major media publications in the niche and serves as an editor for csgo-bettingsites.com.