[Done] Income Ideas
So one of my most popular videos on this channel has been income ideas for programmers. It’s gathered over 100k views which is huge for a channel that right now has 5k subscribers!
So I took all the feedback from the comments, put it with some of my new ideas and am bringing you what I think are the best income ideas for 2021!
Now this is going to be huge for 2021 because we are still in the midsts of a pandemic, which means there a lot of the market is out of place. Airlines for example are down over 100% from their pre-pandemic levels, pharmaceuticals are wildly up and down as they try and come up with vaccines then problems occur. All this means there are great opportunities to double or even triple your money, albeit with some risks. Now I’m no stock expert so I’m not going to recommend you specific stocks but I’ll tell you about my portfolio which is up around £2k right now. I have investments in airlines, which right now are down even from when I bought them, but I invested in airlines that I think will mange to weather the storm, I don’t expect them to be back to making me a profit in the short term, but perhaps in 2-3 years I’ll see some good returns. For more short term gains, I invest in many American tech stocks as they have not been hit by recent events virtually at all. A good tracker fund is the Scottish Mortgage Investment Trust which invests in US tech. I do however stay away from Tesla as I believe it’s wildly overvalued right now.
So that’s the stock market, but I have other investments and one is in bitcoin. I bought when it was really high a year or so ago so I haven’t made huge profits but with the limited supply I do believe bitcoin will still increase further. There’s many cryptos out there and frankly most are technically better than bitcoin, but the problem is, none have the ‘brand appeal’ and they come and go as newer and better cryptos appear. Bitcoin will retain its presence as the most prolific, known and trusted (as far as people trust crypto). I have a lot more thoughts on crypto but that’s for another video, so do subscribe to hear that one.
Another stream which I’m hoping will start up in the new year is a SAAS startup. Part of the reason I haven’t put as many videos out is that I’ve been working with a friend in Germany to put together a software as a service business, essentially a platform where we hope to make some monthly income. I haven’t talked about this yet to you guys, and I’ll give you more details once it’s launched in jan, on this channel, including how you can start your own.
Career… hear me out
My other income stream is a full time job. I got some criticism from a couple of people in my last video for recommending it as an income stream but really it is the lowest risk way of making money. If you’re really trying to go it alone, be self employed or make passive income, even holding a part time job can give you the skills and income needed. I wouldn’t be able to invest in the stock market if I hadn’t first earned some money from a reasonable paying job and I wouldn’t have had the skills to build the SAAS business without the experience I garnered. If you’re youtuber it really can make you stand out. Even on Youtube, if you just start out with no real skills, you’re competing with everyone, however you look at the best youtubers, they generally had some skills from working, like Peter McKinnon who was a photographer for years, Graham Stephan who was in real estate, Destin from smarter every day was in NASA. Myself I’ve worked in startups and government doing software engineering. I then use that skill and knowledge in my videos. The trick is to save and invest earned money in yourself, be it equipment or learning. Now I know 2020 has been hard, maybe you’ve lost your job or not had the opportunity to find one, but with changes happening, this 2021 might be the year of the greatest number of job openings yet.
On that point, my other income stream is obviously YouTube. Now most my videos make so little that it’s barely worth making them. Thankfully I do this for the enjoyment rather than the actual j come, but then one or two videos do just go kinda crazy and earn a fair bit. I’d say 95% of my YouTube ad income is from 3 videos.
Additionally with YouTube, I plan to expand this. I currently do no sponsored posts and have no merch, but in 2021 this is going to change. I’m going to really diversify and put more time and effort into this channel. Do I recommend starting YouTube? Well it depends on how quick you want that income… I’ve been doing this a year and while I’m earning, I’m definitely not in a place to quit my job.
So that’s the income streams that I am using in 2021, but what are the other options?
One thing I would like to invest in but I just don’t have the capital is real estate. I recently was lucky enough to be able to take out a mortgage on a house which means I’m no longer paying rent, ideally I’d like to have another place I could rent out but it’s probably going to be some years before I’m able to do that.
Also my favourite ideas that I think has huge opportunities to grow in 2021 is digital products. We’ve all seen Traf sell his black iPhone icons and make hundreds of thousands, we also have people like Matti Hapooja selling his video luts, Ali Abdaal switching from being a Dr to Youtuber and producing a course about how to become said youtuber.
So what’s my plan for 2021? To diversify my income streams, and what’s my goal? To quit my full time job and work on my side hustles full time.
Thanks for reading, I really appreciate it if you’ve got this far. If you have, do subscribe to my channel here: