How to Invest and Make Money Daily in 2021
When it comes to investing, you’re most likely hoping to make immediate money or save for the future. Sometimes, within the same day. While finding these investments can be challenging, there are several other choices if you wish to make money on a daily basis.
Let’s begin by defining what it means to earn money on a daily basis. This suggests that your investments will either improve in value or yield a cash return, in my opinion. However, it may have a somewhat different meaning for you.
When it comes to investing your money, it’s critical to think about the risks involved, especially with some of the more speculative tactics. You should also think about how long your investments will last. It’s much more likely that you’ll profit from your investments if you keep them for more than one day.
Keep reading to learn various ways you can make money daily by investing
Invest in ETFs or Mutual Funds
The stock market can help you grow your money and generate additional passive income. Index funds, or funds that track a wide market index such as the S&P 500 or Dow Jones Industrial Average, can be a wonderful way to invest quickly and diversify your portfolio. While your daily returns may be small, they will add up over time, allowing you to earn money on a regular basis.
How much can you make investing in ETFs or mutual funds? Historically, it’s typical to receive a ~7% return annually on your investment for a well-diversified portfolio. The stock market can be extremely volatile, so you’ll want to ensure you can handle the ups and downs that come along. By holding your investments for longer than 1 year, you’ll have a large chance of accruing positive returns on your money while simultaneously lowering your tax bill if you plan on selling your investments.
Invest in Real Estate to Grow Your Money
Investing in real estate can be an excellent way to grow your wealth. But there’s one problem. Many new investors aren’t sure where to get started.
That’s why I recommend Fundrise. With this real estate investing platform you can easily start investing in a variety of offerings stress-free.
Make Money Daily with a High Yield Savings Account
In the past few years, high yield savings accounts have become mainstream as people look to grow their money faster than traditional savings accounts. These accounts are commonly online but pay as much as 25 times a traditional savings account.
While the interest rates are still somewhat low, they are also extremely safe investments for your money. You can find accounts that compound monthly or even daily to maximize your returns.
You can also earn interest on a checking account. That’s right, SoFi will pay interest on a standard checking account with no fees. Sign up for a SoFi Checking Account for free here. As a bonus, they’ll give you $50 if you deposit $500 into the account. That’s free money!
Invest in Peer to Peer Lending for a Daily Profit
Peer to peer lending is an easy way for individuals to lend money to others for an agreed-upon amount of interest and maturity date. The length of the loan can be just about any amount and sometimes as little as one day. While your returns might be minimal, it’s a great way to make money passively.
There are many different peer to peer lending options available. Some of the most popular are listed below:
Invest in Bonds
Bonds are traditional investments with a fixed interest rate and maturity date. There are several types of bonds including:
- Savings Bonds
- Treasury Bonds
- Corporate Bonds
- Government Bonds
Bonds can be a great method to invest and make money daily although the returns can be minimal. If you choose to invest in bonds, you can sleep at night knowing your money is in a safe place making it a great way to invest.
Consider Investing in Cryptocurrency to Make Money
Warning: Trading cryptocurrency can be extremely speculative and is by no means guaranteed to make you money. With that said, cryptocurrency has gained popularity over recent years and its value has increased significantly. Some cryptocurrency owners have made tens of millions of dollars investing in cryptocurrency over the years.
It is common for the value of cryptocurrencies to swing massively from day to day, giving you the chance to profit on uncertainty. You should expect swings of anywhere from 2-10% daily for your portfolio.
WHAT CRYPTOCURRENCIES SHOULD I INVEST IN?
When it comes to crypto, there are a few main contenders and then all of the others. The most popular, Bitcoin, is perhaps the best option for new investors because of its rapid adoption. Two other cryptocurrencies to consider are BitcoinCash and Ethereum. BitcoinCash was built on the same framework as Bitcoin although slightly “better” in the fact that transactions are confirmed much faster and the cost of transactions is much less than Bitcoin.
Utilize Micro Investing Apps to Make a Daily Profit
Looking for an easy way to invest money automatically? Luckily there are several apps available that will automatically round-up change for every dollar spent using a credit or debit card and invest that money for you. While it may seem trivial, the amount you can save and invest can add up significantly over the course of the year. The money that is saved and invested is typically allocated to different index funds and stocks that provide a safe investment for your money.
Some of my favorite micro-investing apps include: