I know that what I want to do is content creation, but at the end of the day in order to do that either for fun or for work. I’ll need to be self-sustainable on something. So let’s say you had $1000 to start with what could you do that would make you some money?
Safe and Secure Investing
If you just dumped all your money into a high paying dividennd ETFs like (TSE: ZDV) and called it a day. In 6 months time if they can manage to pay out a 5% dividend and provided that the stock price didn’t drop below the initial purchase price, you’d have maybe a surplus of $25 and then accounting for average growth maybe 2-3%. That’s like maybe like $40.
So in total with a 3 % growth and a 5% monthly dividend you’d end up with $65 profit. Maybe compounded would bring you closer to $100? So for long term sake lets say it was $100. That’s a total of a 10% return which is actually a really good return. Not the most likely in the short term but over decades this would compound into something rather significant.
Also I did rough calculation in my head for this one so I would say its not entirely accurate but enough for a good estimate. It defintely sounds like I’m being very generous but at the end of the day it’s probably not what you’re looking for if we’re looking at a 6 month timeline because there are still risk associated with that.
Day Trading
This also requires a lot of technical analysis and is boderline gambling. I feel like when I was capable of doing it on positve days I averaged out to 1.5% and negative days are capped at 2% cause that’s my stop loss. I only wanted to do a few trades a day because the more you do it the more you mess up so I prefer analyzing one stock really well and then that’s it.
So if I stayed with that for 6 months and used something with minimal to no fees like WealthSimple trade, my orders would be delayed but I think we’d still be able to average out to maybe 0.5% daily? What’s that compounded over 6 months. Approx 130 days. lol that’s like $160? Also not the best amount. So if we went with a more unlikely scenariobutifyou could get an average return of 1% daily compounded it might be closer to $400? that’s better. That’s a total of 40% ROI in six months which is actually really good. Just unlikely.
Get a Job lol.
Tutor English Online (VIPKID)
So if you did the bareminimum of classes 45 Classes x $7/Class Puts you at $315/Month for 6 months is around $1890. That’s pretty decent and the only cost I suppose you’ll have is your time and mic and webcam if you don’t have.
I’ve been contemplating this for like 4 years. WTF is wrong with me lol so I can’t dish out actual personal experience but a good review I found is here: https://www.weareteachers.com/vipkid-jobs-reviews/#:~:text=What%20does%20VIPKid%20pay%3F,25%2Dminute%20classes%20per%20hour.
* Not a refferral link lol cause I haven’t signed up yet…
So basically after 6 months, you could make maybe $2000 provided you can work a minimum of 24 hours/month. And then you’d still have your initial $1000 to invest elsewhere.
Content Creation
And lastly the one stream of income that I’ve always wanted to do but currently pulls like $2/month lol. I thinksomething I’ve always wanted to create something that helps people hence Limitless. But my inability to commit to working on one factor should work.