In this expensive day and age, everyone is looking for ways to generate additional income. People have gone from minor to extreme lengths to do so too. Some people have taken on second jobs working 80 hours within one week just to make ends meet, while others have gone to a bit more extreme lengths selling their plasma and selling some of their most valuable sentimental treasures.
But that’s the world we live in, and it’s not always fair, but that doesn’t mean that you have to go through life struggling. Some people make enough to pay all their monthly bills and then have no extra money left over to live. That is not only called being “house broke,” but it’s also a vicious cycle of living paycheck to paycheck.
Nearly 78% of Americans are living paycheck to paycheck and roughly 32 million people have filed for some type of unemployment assistance amid the emergence of the pandemic, according to the US Department of Labor. So the day to day financial struggles of trying to survive in this expensive world is a commonality among many people… but that doesn’t make it a standard you should feel comfortable accepting either.
You first and foremost want to put yourself on a budget and cut out all unnecessary expenses that are meaningless and worthless to you… This will indeed help you to save money, but it still doesn’t solve your issue of generating additional income on more of a consistent basis.
To generate the type of income that’s steady and consistent, you’re going to have to consider investing your money. There are actually several different investment opportunities available to you, you just have to determine which investment is best.
A lot of people are actually quite intimidated by investing because they think you have to have a lot of money to invest your money in something… Well, that all depends on what you’re trying to invest in. Yes, there are investment opportunities that require large capital upfront, but that’s what financing is for, if you have a good credit history.
But there are small investment opportunities as well that are worth the investment for anyone, especially for anyone aspiring to become an investor… it’s best you start small. The key is to be patient and more importantly, to take care of your investment. For example, if you have a photography business, your investment in your business is your photography equipment, and you need to protect your expensive camera equipment because it’s an investment.
You can’t expect your investment to quadruple overnight, though. Invest a comfortable amount of money in anything you feel will be lucrative, and wait for it to flourish.
If you want to invest but aren’t sure how to go about it or what to even invest in, we’ve compiled a list of the most lucrative investment opportunities you don’t want to miss out on.
Investment Opportunities to Take Full Advantage Of
You’ve probably seen the commercials talking about investing in gold… Whether it comes in the form of gold bars or jewelry, gold has always been a great investment opportunity. Why is gold such a great investment opportunity? Well, you may not realize it but the almighty dollar is continually depreciating in value. As the dollar depreciates in value, guess what’s increasing in value… Gold!
The Stock Market
Whether you don’t know much about investing or not, you’ve at least heard of people investing in the stock market. In short, investing in stocks involves you choosing a company you feel will bring you a sizeable return on your investment.
You, of course, need to do your research on the risks involved, as well as the potential rewards. This is a great way to earn additional income when the stock market is good. If you invest in a stock that plummets, you could end up losing all your money, so again do your research before jumping headfirst into the stock market.
Investing in real estate is probably the more common and most viable way to secure an additional source of passive income. It will, of course, require some work on the front-end from you like finding a nice home in a non-depreciating market and securing funding from a company offering the most streamlined financing process.
This investment is definitely one that is long-term, and if done right, you’ll be able to price your rental property at a rate that will not only pay for the mortgage but also leave you with plenty of money left over to save or invest in other ventures.
If you want to take your shot at getting rich quick, then investing in penny stocks is the way to do it. You literally can make a lot of money within a matter of hours… think of this like playing the lottery. Your investment in stocks can double or triple in value in a cat nap’s time! More importantly, it’s a cheap investment opportunity that can prove to be quite lucrative.