Investing money is the best way to make your future as comfortable as you want. As many people must have observed from the pandemic, having a job is not enough. This is because even the slightest shifts in the economy can cause you to lose your job.
However, with an investment plan that automates your earnings, you are sure of consistent returns even when you don’t work. Knowing this, we will be looking into 5 of the best investments in 2021 that can earn you passive income.
High-Yield Savings Accounts
This is a savings account that offers you interest on any cash balance you have. So, you are typically earning money by leaving your cash in an account. The great part about this method of saving is that you can quickly get your money by sending it to your primary bank or using an ATM. This is a great option for people who are looking for an investment vehicle to put cash they will require soon.
Short-Term Corporate Bond Funds
Sometimes, major corporations issue bonds to investors as a way to make cash. They can set this up into bond funds consisting of bunds from numerous corporations. You have the option of choosing between short-term and long-term bonds, which come with different maturity dates. This is a great option for anyone who has made enough cash from online gambling or other sources, and is looking for a place to store this money and earn returns from it with the least risk.
Rental housing is a fantastic investment vehicle you can leverage in Canada. Since Canada consists of ten provinces and three territories that stretch from the Atlantic to the Pacific, then towards the north into the Arctic Ocean. It covers 9.98 million square kilometres, which makes it the second-largest county by area in the world. This means tons of people living in this city will always need a home, making the rental housing market extremely viable.
However, unlike the other options we have covered, this will require some work at first. You can easily find a property in a good neighbourhood and get finance or purchase it outright if you have the resources. From here, you have the option of maintaining it yourself and dealing with tenants, which can be a lot of work or getting the services of a property manager.
If done right, rental property is one of the best investments that can give you a consistent passive income stream.
Dividend Stock Funds
Dividends are part of the profit of the company that is paid to shareholders every quarter. With dividend stock funds, you can enjoy appreciation of your investment in the long term while earning cash during the short term. You can also purchase more than one to minimize your risk.
Cryptocurrency is becoming more popular each day in Canada. It is a digital currency that is not controlled by the Canadian government and acts as a medium of exchange. Now that it is gaining wide acceptance, it is used for numerous online payments including playing in online casinos. If you are one who does a lot of online gambling in Canada, making payment via cryptocurrencies can help you stay anonymous. However, in addition to being anonymous, you want to play in a reliable Canadian casino like Jackpot City casino reviews to ensure you don’t get swindled. You can read our Jackpot city casino reviews to find out more.
Because of the many uses of cryptocurrencies, the prices are continuously going up, with bitcoin taking the lead for the best investment. However, if you want to invest in crypto, you must be ready to deal with volatility since the price fluctuates. For instance, at the beginning of 2021, Bitcoin went up to around $30,000 from less than $10,000 a coin at the start of 2020. But it went on to drop after the quarter of 2021 and has only started picking up again.
If you are looking for an investment vehicle that can offer you returns in the long term, this is the right bet for you.
About the Author
Michelle Thomas is an investment expert who gained her experience from dabbling in the market. Now, she spends her time sharing her knowledge with other new investors to avoid making the same mistakes she did.
Investing money is becoming more critical in today’s world. Fortunately, there are tons of investment vehicles that anyone can take advantage of and start to earn real cash. We have put together a list of the easiest ones you can begin within Canada and other parts of the world in this article. Simply choose one, understand everything it entails to make sure it is right for you, invest and start to earn passive income from your home!