The Canada Emergency Response Benefit (CERB) will remain entrenched in the hearts of Canadians who lost jobs or income in the 2020 COVID-19 pandemic. Although the taxable benefit is temporary, the $2,000 income support was good for 28 weeks. CERB saved millions of people from sinking into financial misery.
I am sure the unemployed folks staying at home are also thinking of ways to make money that isn’t CERB. There are opportunities you can find during lockdown to earn $2,000 or more monthly. More importantly, the passive income you’ll earn might be a continuous basis and more enduring than an emergency federal aid.
Open an e-commerce store
Online shops are beating brick-and-mortar stores handily, especially during lockdowns. Since people are staying home, online shopping has never been more popular. For online sellers and retailers, it’s time to make hay while the sun shines. In all likelihood, it will take a while before customers troop to the malls or physical stores again.
Open an e-commerce store if you have products or items to sell. People will fancy buying art, books, clothes, electronics, fashion accessories, footwear, gadgets, home décor, jewelries, and much more. You can even offer online courses for people to learn.
Remember that Shopify founders started with snowboards. Today, the e-commerce platform for small- and medium-sized businesses has a $147.22 billion market capitalization and is the largest publicly listed company on the TSX.
Passive income from dividends stocks
Manulife Financial (TSX:MFC)(NYSE:MFC), a renowned insurer globally and household name worldwide, should deliver extra cash flow without fuss. Whether you invest $20,000 or $200,000, your money will generate an income stream for years on end.
This $36.83 billion company is not only into insurance. Manulife provides financial advice and wealth and asset management solutions for individuals, groups, and institutional clients. The reach is in Canada, the U.S., Asia, and internationally. It has been operating for 133 years.
The insurance stock will not dent your budget yet will reward you with a respectable income. Its current share price is $18.96, while the dividend yield is a high 5.85%. A $20,000 investment will create $1,170 in extra income, whereas a $200,000 position will produce $11,700.
Manulife is selling at a discount (24.77%), and the price should be appreciating in the next 12 months. Analysts forecast a 43% spike to $27 in the recovery period. Value investors should find this stock attractive because of excellent revenue metrics, solid earnings estimates, and a pretty high dividend yield. There’s value for money given these three factors.
CERB is ending soon after a very successful run of 28 weeks. A replacement is coming soon, but only time will tell if it will steal the original pandemic lifeline’s limelight. Still, the best course of action in the post-pandemic world is to be resourceful and find a long-lasting substitute.
You have two concrete passive-income strategies as starting points. The potential earnings could be so much more than the $2,000 monthly CERB. Someday soon, your nine-to-five job might be optional.
This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.