Canadians should start moving on now that the Canada Emergency Response Benefits (CERB) is ending in September 2020. Although a new $37 billion income-support program will commence, there are earning opportunities available that aren’t CERB or federal aid.
CERB ran for 28 weeks and paid a total of $14,000 to individuals displaced by COVID-19. With the emergency phase over, it’s time to make meaningful changes, like finding other ways to earn $2,000 per month.
Many Canadians stuck at home during the pandemic are turning resourceful. Earning extra income is more than possible, even in lockdowns. To others, it could be life-changing.
Passive income online
If you have the knack for teaching, creating an online course is a great passive income idea. Put your know-how or expertise to productive use and be part of the e-learning industry. There’s a host of platforms where you can set up courses of all kinds. The earning potentials from digital products are limitless.
Aside from creating online courses, you can also publish e-books, workbooks, and instructional guides. Complement your newfound undertaking with an e-commerce store. Check out Shopify and see how the platform can help you start an online business.
Try dividend investing
It’s surprising to know that the $2,000 CRA cash monthly helped Canadians save a record 28%. You can say if there’s a will, there’s a way. If you have free cash or savings, try dividend investing. It’s an effortless activity to make money and replace CERB. However, it would be best if you understood the risks involved.
The key is to pick reliable dividend payers whose businesses are recession-proof or pandemic-resistant. Similarly, the products and services it provides are essential for years to come. Once invested, you can sit back and do nothing. The income distributions are predictable, recurring, and enduring. You will also benefit from the power of compounding.
If CERB worked like a charm temporarily, TELUS (TSX:TU)(NYSE:T) could weave its magic permanently. The $29.8 billion company is the second-largest telecommunications company in Canada. This telco stock has increased dividend for 16 consecutive years. Over the last two decades, the total return is 399.72%.
The current share price is $23.61, while the dividend offer is 4.95%. A $25,000 investment will generate $1,237.50 in annual income. Investors seeking to match the $2,000 monthly CERB would need to own $485,000 worth of TELUS shares.
Regardless of the investment amount, TELUS will not disappoint investors. It’s a dynamic, global leader in communications and information technology that generates $15 billion in annual revenue. The company serves 15.4 million customers with wireless, data, IP, voice, television, entertainment, video and security services.
The latest buzz that’s generating excitement is TELUS’ collaboration with BlackBerry. This new partnership will provide secure emergency management and crisis communications to organizations across Canada. TELUS is also investing $15 million to deploy a submarine fibre optic cable between Sept-Iles and the Gaspesie region. The project is in tandem with the government.
Life goes on
CERB, the flagship program of the original COVID-19 Response Plan, helped millions of Canadians endure the emergency period. Let us hope the government’s new income-support measures in the recovery phase are equally successful.
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.
Fool contributor Christopher Liew has no position in any of the stocks mentioned. Tom Gardner owns shares of Shopify. The Motley Fool owns shares of and recommends Shopify and Shopify. The Motley Fool recommends BlackBerry and BlackBerry.