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#Stocks

Stocks are the most convenient way to gain exposure to the corporate world. Instead of launching your own business from the ground up, you can buy a piece of a business that has been successful on a global scale for decades.

Some stocks can deliver jaw-dropping growth. For instance, chipmaker Nvidia (NASDAQ:NVDA) has delivered roughly 13,000% in stock-price appreciation over the past 10 years. That’s a decidedly better outcome than what you can expect from most startups and small businesses.

You don’t need to pick winners either. Instead, you can buy a fund that tracks the entire stock market to lower your risk. One example is the Vanguard S&P 500 ETF (NYSE:VOO), which has delivered 11.1% in average annual returns over the last decade.

#Real estate

Real estate is another entrepreneurial venture. In fact, rental homes are a major part of the country’s economy, contributing $2.4 trillion to the gross domestic product every year. Fortunately, the barriers to entry for this sector are relatively low.

Mom-and-pop landlords account for the majority of small rental properties owned by individuals, according to the National Association of Realtors. Federal Housing Administration (FHA) loans have a minimum required down payment of 3.5%. Meanwhile, average annual gross rental yield on three-bedroom properties was projected to be 7.5%, per an ATTOM report.

Alternatively, you could invest in a real estate investment trust (REIT) for passive income. For example, Realty Income Corp. (NYSE:O), owns a portfolio of commercial real estate and offers an attractive 6% dividend yield.

#Side hustles

Side hustles are getting increasingly popular. In a 2022 LendingTree survey, 44% of Americans said they have one — up 13% from 2020. They made $473 a month, on average, this way, which was almost $5,700 a year.

Through the power of the internet, it’s easier than ever to launch such a venture and supplement your regular income. Freelance writing, consulting, babysitting or online ecommerce are some examples of easy-to-start side hustles.

A successful side hustle can even unlock a massive windfall. According to a CNBC report, two friends invested less than $200 to start their tech-enabled side hustle and recently sold it for over $150,000. Stories like these are increasingly common as the digital economy delivers more opportunities than ever before.

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About the Author

Vishesh Raisinghani

Vishesh Raisinghani

Freelance Writer

Vishesh Raisinghani is a freelance contributor at MoneyWise. He has been writing about financial markets and economics since 2014 - having covered family offices, private equity, real estate, cryptocurrencies, and tech stocks over that period. His work has appeared in Seeking Alpha, Motley Fool Canada, Motley Fool UK, Mergers & Acquisitions, National Post, Financial Post, and Yahoo Canada.

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