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3 Easy Ways to Make Money Fast on the TSX Today

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If you’re looking to make easy money fast, then you’ve likely already started at least looking into investing. If that’s the case, you’re surely looking at the TSX today wondering how you can get in on the action.

There are a few steps I would take to make easy, fast and above all safe money on the TSX today. So let’s dig in.

The easy method

The easiest method to get quick cash is to build habits. The easiest way to build a habit is to start putting money aside every single day. This does a number of things for your bottom line. Of course, there’s the obvious where you’ll build up money day after day. But it also means you’ll have to start considering whether you’re going to put money aside, or spend it.

By choosing to save money instead of spend money, you’ve already won the battle. To win the war of reaching your goals, however, you need a sustainable method.

A great starter option is to take the last number of your account at the end of the day, and transfer it into a Tax-Free Savings Account (TFSA). Here’s a quick example.

Day Account Transfer Total
Monday $52,738 $8 $8
Tuesday $51,625 $5 $13
Wednesday $51,385 $5 $18
Thursday $51,020 $0 $18
Friday $50,989 $9 $27
Saturday $50,444 $4 $31
Sunday $50,241 $1 $32

If you did that each week, by the end of the year you could have another $1,664 saved! That’s not nothing.

The dividend method

So now that you have some cash available, it’s time to start investing to build you cash quick. A great place to start is with strong dividend stocks. Companies that provide dividends are usually quite stable in general, but I would go with the Big Six Banks if you’re new to investing. The Big Six Banks have seen solid growth and dividend payouts for around 100 years. That includes Canadian Imperial Bank of Commerce (TSX:CM)(NYSE:CM).

If you want a dividend bank stock, then CIBC is where you’ll want to look first. It has the highest yield of the Big Six Banks, providing $5.84 per share per year. That yield has grown at a compound annual growth rate (CAGR) of 5.28% over the last decade. If you were to put that $1,664 into CIBC stock today, you would bring in $76.50 per year in dividends. So again, another super easy way to bring in cash fast from the TSX today!

Value stocks on the TSX today

Now you may have already heard of growth stocks, but value stocks are what’s popular in 2021. With 2020 bringing a rise in tech and e-commerce stocks, there was a pullback at the beginning of the year. That means there are now undervalued tech and e-commerce stocks that are perfect for long-term investors.

But you don’t have to get right in on high-priced stocks. Instead, you can find e-commerce adjacent stocks that are valuable on the TSX today. A great example is WPT Industrial REIT (TSX:WIR.UN). This company provides light industrial properties where e-commerce companies can ship and store products. This is a necessity with the continued rise in e-commerce, so it’s absolutely expected to continue seeing a rise in revenue. This revenue is then used to buy up further properties, increasing its bottom line even further.

And because it’s an REIT, that means you also get access to a dividend yield. In this case, that yield sits at 4.53% as of writing. WPT Industrial shares have grown 40% in the last year as of writing, but it sits at 1.7 times book value. This makes it an ideal value stock to pick up on the TSX today.

Foolish takeaway

By taking these three steps, you’ve now turned $0 into a large investment in just one year. But let’s take it a step further. Let’s say you have $1,664 to invest in CIBC stock and left it for a decade, reinvesting dividends. In a decade you could have $6,023.67 without adding a penny!

Now let’s say you matched that $1,664 WPT Industrial stock. If the same growth continues, you could have $14,336.51! That’s a grand total of $20,360.18 in just a decade without adding a penny and only reinvesting dividends on the TSX today.

Now turn that cash into even MORE the easy way with these HIGH GROWTH options!

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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 Amy Legate-Wolfe has no position in any of the stocks mentioned.

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