Here are 10 ideas:
1. Move your savings into an online high-yield savings account and you will see a large flow of extra money. Some online banks even give a return of up to 100 times higher than traditional banks.
2. Place some money that you don’t need right now in a certificate of deposit. After the time lapses, you’ll see a significant return.
3. Establish a dividend-paying investment portfolio, so you receive quarterly payouts as a company investor.
4. Dive into real estate investment trusts, which will pay higher dividends than stocks. Transparency and liquidity is hard to come by in this segment, however.
5. Buy a property and rent it out. Although the initial capital will be hefty, the payoff has the potential to be grand.
6. Try your hand at real estate crowdfunding, choosing which residential or commercial properties in which to invest.
7. Peer-to-peer lending involves people seeing loans from people willing to lend. As an investor, you may pay money toward a loan, of which you are paid back a predetermined interest rate.
8. Invent something — sell it or receive royalties for it.
9. Develop an application that solves a healthcare issue. If it gains traction, you’ll be sure to see money.
10. Turn to YouTube and offer your intellect in the form of educational videos. Or try out your secret dream of becoming a singer. Whatever you do, you’ll receive money from those ads that appear before your video.
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