5 Ways To Make One Million Dollars in 2021
2020 was quite the tough year, while some businesses saw a bloom in their revenue, some suffered a huge loss. People lost their jobs, it was generally a difficult one. While we empathize with those who were badly affected, we also thought to share helpful tips on how to make some cool bucks this year 2021.
1.Stock Trading:
The aim here is to speculate and bet on the company’s stock price, which could either rise or fall within a period of time. How it works is this, you invest in a company and for some reason, they do well in the stock market, their stock price rises by 20% since more people are more interested in investing in that company's shares, you sell your stocks and…now think of how much you’d have made, or lost by not investing.
You should know that traders prefer unstable companies as the stocks of stable companies don’t fluctuate much, so there is not much room to gamble right. For starters, you can stay small, with a little amount and then scale up as you get better in trading.
A popular rule of thumb is to invest money that you can part with. Study the market, read up, and of course DYOR.
2.Use Debt to Invest in Real Estate
You’ve probably heard this before, land doesn’t lose value, it doesn’t depreciate. With just a relatable small amount of money, you could be controlling properties worth millions.
There’s a hack that most real estate investors use; they have some savings, they find a property but of course the savings aren’t enough to purchase and revamp the property, so they use part of their savings to get a mortgage. So now what you have is a house that needs renovating, a mortgage, and part of your savings.
Also, since you renovated the house and from a place no one wanted to live in, to one people want to either rent or buy, the value of the house skyrockets. So from the cash flow the house generates, you’re able to cover your insurance, mortgage, and any other expenses it might have incurred, while still having some money left, you refinance your mortgage, rinse, and repeat.
3.Sell A Course:
You’re probably just wasting your knowledge of event planning when you could actually be making money from it. If you’re very knowledgeable in a subject area, you can complete your knowledge, structure, or and sell it as a course. People who are interested will pay to learn.
Over the years, companies’ stock prices have been going up, take for instance Zoom. Those who invested earlier in Zoom would’ve recorded huge gains due to the company’s growth. The goal isn’t to invest in companies that have already hit the roof though, look for promising startups and invest in them.
5.Build an App:
Apps have come to stay. There’s no one who doesn’t use applications, as long as they have a phone.
A Quick Look at Apps Download Statistics
Going by App Download and Usage Statistics (2020) statistics as curated by Business of Apps
India was the leading market for app downloads in Q2 2020, with nearly 7 billion, followed by the US with around 3.75 billion, and Brazil with 3 billion (Sensor Tower), that is excluding Chinese third-party app downloads.
WhatsApp was the most-downloaded app of 2019 with over 850 million downloads, followed by TikTok (~730 million), and Facebook Messenger (~810 million) Sensor Tower
• According to App Annie, Facebook Messenger was the most downloaded app of 2019, followed by Facebook and WhatsApp. • Sensor Tower stats show both Zoom and TikTok were downloaded over 300 million times in Q2 2020, a feat only matched by Pokémon Go in Q3 2016 and TikTok itself in Q1 2020 • TikTok the most downloaded app in Q2 2020 according to App Annie, while Zoom climbed 10 places to second, and Google Meet climbed by 117 positions to seventh (App Annie) • Sensor Tower stats show 40 million US downloads for Zoom in Q2 2020, 25 million for TikTok, and 15 million for Facebook Messenger
• In Europe, Sensor Tower stats showed just under 60 million Zoom downloads to 50 million of TikTok and around 35 million of WhatsApp • According to App Annie, Facebook’s four top apps, led by Facebook itself, were the most-downloaded apps of the 2010s
• According to Sensor Tower, Facebook apps were downloaded close to 3 billion times between them in 2019, making it the top app publisher by downloads • App Annie stats indicate Google was the top app publisher of 2019 (App Annie) • In Q2 2020, Sensor Tower also identified Google as the top app publisher worldwide, with over 1 billion downloads in this three months alone (Sensor Tower)
• Over 1 billion mobile games downloaded per week in Q2 2020 (App Annie) • Games accounted for 40% of total app downloads in H1 2020, up from 37% in 2019 (Sensor Tower) • Casual games account for 82% of mobile games downloads (App Annie)
• PUBG MOBILE was the most downloaded mobile game of 2019, with around 285 million downloads, followed by Garena Free Fire (around 275 million) and Subway Surfers (around 230 million) (Sensor Tower) • Subway Surfers was the most-downloaded game of the 2010s, with 15% of lifetime downloads coming from India (App Annie) • 4 billion shopping apps downloaded in 2019 (App Annie)
• 20.3% of total ecommerce app and 18.7% of shopping app downloads that occurred between Q1 2019 and Q2 2020 occurred in the last quarter in this range (AppsFlyer) • 65% global upswing in medical app downloads in peak lockdown month (calculated by country) vs January 2020 (App Annie) • 65% global upswing in education app downloads in peak lockdown month (calculated by country) vs January 2020 (App Annie) • 24 billion downloads of finance apps in Q2 2020 (Sensor Tower)
What does this tell you? It’s an open market, one to be explored. So you can carry out a survey, do your proper R&D. But first, we should add that like everything else, you should familiarize yourself with the mobile market terrain before venturing into it.
