COVID-19 changed a lot in just a few years. People went from being social butterflies to being confined in their spaces. So, during the lockdowns, people had to find ways to make money and unwind without breaking the protocols.
Many chose to play casino games. With sites like Bet365 Casino offering fast access to good games and high payouts, people were hooked. And this casino game trend continues to date, with many people turning it into a full-time career.
But where can you invest these and other earnings to enjoy good passive income? We look at the options:
Investing in the Post-COVID Market
While the COVID pandemic had many adverse results, it taught people to invest for the future. People with sound investments enjoyed a lot of cushioning when they could not work or had medical bills to pay. And while we do not anticipate another pandemic, we can all agree that passive income is always a welcome idea.
Here are some ideas you can consider:
High-Yield Savings Accounts
Many people save for rainy days. However, the issue with standard savings accounts is their lack of cushioning against inflation. If you save $1,000 today, it will be worth less than $1,000 a year from now. Thus, you must consider the net present value of all your savings years from now. And compound this with future value to gauge which savings accounts give you value for your money. It is thus advisable to put your money in a high-yield savings account that will account for inflation and still earn profit.
Is this a good option for you? These accounts are ideal for people who need their cash in the future. Moreover, they favor risk-averse investors who want to incur minimal risk. However, the risk is minimal if you invest in a bank with the necessary insurance and whose terms favor investors.
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Certificates of Deposit
While high-yield savings accounts have high earnings, certificates of deposit may be the better option for some investors. They feature higher interest rates and allow investors to re-invest their earnings over time at higher rates. Each time the certificate of deposit matures, you can reinvest the entire capital and interest in another one at a higher rate (if possible).
Is this a good choice? These certificates are best for investors who need their money later. And just like high-yield savings accounts, they favor risk-averse investors. However, you must pay attention to the reinvestment rates as they can fall when the economy hits a snag.
Bond funds help corporations raise funds and often have a validity of one to five years. These short terms shield them from interest rate fluctuations, making them suitable for risk-averse investors who need their money in the future. Like savings accounts, you should only invest with insured corporations to secure your capital.
What better way to make money from a business without starting one from scratch? Stocks allow you to buy a company share and earn dividends based on profits. While the rates of return are usually high, this depends on the company. You should thus research your options and settle on a promising company.
Rental Real Estate
Do you prefer regular income? Investing in rental real estate is always a good idea. Once you put up a house, you can start earning rent, which you can reinvest in other rental homes or other passive income earners, as discussed above. If active management does not appeal to you, consider investing in REITs issued by trusted companies.
Before investing in any business or investment vehicle, do your research and determine if the returns and risks match your preferences. For example, a risk-averse investor should avoid stocks as the returns on these vary a lot, and you can lose your capital. But if you have a high-risk appetite, stocks will favor you!