The coronavirus outbreak has caused devastating economic disruption across the world, with jobless claims in the United States alone exceeding more than 3 million in the past week, which is by far the largest amount in history. But if you have found yourself without a job and stuck at home during this crisis, all is not lost. There are many ways in which you can earn money from home.
Here are some of the best:
1. Investing in Stocks
It may sound counterintuitive to invest in stocks at a time when the stock market has been so battered. But now may actually be the best time. This is because the best time to invest in anything is not when it is at its high point but when it is at its low, as this is when you can really make a big profit.
Right now, many great companies such as Apple, Google and Facebook, which have consistently performed well over the years, are trading at lows that were unimaginable before this crisis. But they will not be trading this low for long. So, now is a golden opportunity to buy them. An opportunity that may not come again.
Also, there are a number of companies, such as Regeneron Pharmaceuticals, that stand to benefit directly from the crisis and the work that they are doing to bring it to an end. Investing in these companies can lead to the kind of large gains that you would rarely experience in better times.
2. Create Internet Content
With so many people stuck at home, Internet activity has increased so much that some content providers have had to limit the bandwidth of their services. So, this is a great time to create income-generating content such as:
- videos
- photos
- writing
By posting videos about topics that people are searching for you can earn lots of money in advertising revenues. If you are good at photography, you can sell the photographs that you make at various stock photo sites. There are also opportunities to become an influencer at sites such as Instagram. Finally, there is further a strong need for freelance copywriting, proofreading and transcription, all of which you can do from home.
3. Sell Goods Online
Because so many people right now are not allowed to leave their homes due to shelter-in-place rules enacted across the country, online retailers are doing lots of business. Amazon alone wants to hire 100,000 people just to meet the increased demand during this crisis. You can participate in this boom by either selling goods that people need at your own website or selling them at Amazon and at other leading retailers.
In some cases, you can even use drop shippers, who do most of the heavy work for you by making (or procuring) the goods, packaging them and delivering them to your customers.
Summary
While you may be stuck at home without a job during the coronavirus crisis, this does not mean that you cannot earn money. By following one (or more) of the ideas outlined here, you can not only earn money during the crisis but also after it passes, providing you with an extra source of income well into the future.
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