Good morning. It's Wednesday, May. 1 and we're covering side hustles for busy people that you'll actually enjoy, 'Shark Tank' star Robert Herjavec's 2 best passive income ideas, empowering veterans through real estate, and much more. | First time reading? Sign up here. | Stock Market Update | | | | | Market Performance: April 30, 2024.
S&P 500 futures slipped Tuesday night as investors looked ahead to the Federal Reserve's rate policy decision. Futures linked to the broad market index slipped 0.07%, while Nasdaq 100 futures dropped 0.29%. Dow Jones Industrial Average futures rose marginally by 10 points, or 0.03%.
In after-hours trading, Amazon advanced about 1% following better-than-expected earnings and revenue in the first quarter. Chipmaker Advanced Micro Devices tumbled more than 6% after issuing an in-line revenue forecast for the current quarter, while Super Micro Computer slid 9% as revenue came in slightly below the Street's consensus estimates.
During Tuesday's main trading session, the Dow and S&P 500 both shed more than 1%. The tech-heavy Nasdaq Composite declined 2%. Bond yields jumped after the first quarter's employment cost index came in higher than anticipated, reigniting worries that the Fed will keep interest rates high for even longer. |
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| | Financial Maverick Insights | | | | | Side hustles for busy people that you'll actually enjoy | Happy side-hustlers align their side gigs to their interests and skills, and they generate enough money to make it worth their precious time. Burnout happens when too much time and effort is going into the venture and not enough money is being generated. Before you start moonlighting as an Uber or Lyft driver, assess your current skills and any activities you're already doing that could easily be transformed into an additional source of income and that you'll actually enjoy.
Here are some of the easiest, fastest and most popular side hustles happening in my community, being done by those I'd consider to be extremely busy people.
Helping entrepreneurs use AI
Every business owner I know right now is looking to trim costs and grow revenues, and see how AI can help, whether it's for translations and transcription or writing website content, making social media posts, creating unique images or helping to solve tricky digital code. Many business owners know AI is powerful, but they're pulled in a million directions and don't know where to start. If you're great at using AI, put yourself out there through social media and in your professional network to see if you can acquire a client or two to support on an ongoing basis.
People, pet, house and stuff-minding
Your duties could be spending time with people or pets, walking or exercising, feeding, entertaining, cleaning and keeping things or people safe and secure. Whether it's caring for a child, a dog, a home, a senior or so on, this side hustle can consume as much or as little time as you have. In an ideal situation you'll be able to acquire a group of clients who live nearby which will allow you to optimize your time, while charging each of them the same rate.
Freelancing and consulting services
From virtual assistant support to speech writing, professional consulting, photography, filming, writing and so much more. Oftentimes freelancing and consulting can be a bit more flexible in terms of hours, but has nice time-bound delivery dates for the work so it doesn't drag on. Sites like Upwork and Fiverr make advertising freelance and consulting services extra easy in the event you don't have clients yet.
Hobbies turned into money
Gardening, extreme sports, wood work, guided tours, driving, music or pastry-making lessons and more. If you're a hobbyist, consider how you might be able to generate income. Could you teach local kids to play the ukulele or host outdoor military-style boot camps? The goal here is to have fun with your hobby and get paid in the process. |
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| | | | | | 'Shark Tank' Star Robert Herjavec's 2 Best Passive Income Ideas | Shark Tank's Robert Herjavec has amassed a fortune worth $300 million. He's done it by growing profitable businesses and selling them to larger companies, but that's not the only way he makes money. Herjavec also uses two powerful passive income strategies that anyone can follow. "
Here they are, along with Herjavec's tips for getting as much out of the tactics as possible.
Invest
Herjavec has invested $16.5 million in emerging businesses through Shark Tank alone. Once he makes these investments, he has a team of people who support businesses on his behalf, giving him considerable financial upside without requiring too much. If you'd like to invest in companies like Herjavec, here are three tips he's shared to improve your results.
Know Your Numbers
Herjavec says he won't even listen to a pitch from an entrepreneur unless they have their numbers straight. He looks at costs, sales data and projections when deciding whether to invest. You can do the same when deciding which companies to invest in.
Create Resellable Content
Herjavec has written three books, two of which were top-10 bestsellers. He earns a passive income from these books through ongoing sales. This is a great example of how creating resellable content can provide you with a long-term income bump.
Seek Mentors
Herjavec says his relationship with an unofficial mentor opened his eyes to his potential as an entrepreneur. Forming that relationship with someone you respect may help unlock new parts of yourself. This process can help you create more powerful content that resonates with a larger audience.
Learn From Your Failures
Creating your first e-book, online guide or physical book can be a lot of work. If you aren't successful with your first one, it would be easy to give up. Herjavec warns against this: "Failure is a blessing in disguise. It's the opportunity to start again — this time with a better head on your shoulders." If you can look at your failures that way, you'll find success eventually. |
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| Real Estate News |  | Navigating the Housing Market: A Seasonal Perspective | Seasonality refers to predictable changes in time series data that correlate with certain times of the year; understanding it will help us anticipate trends in the upcoming months. |
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|  | From Service to Success: Sam Ruben's Mission to Empower Veterans Through Real Estate | Real estate developer Sam Ruben is teaching military veterans how they can use their VA loans to invest in property and save for the future. |
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|  | I'm a Real Estate Agent: 3 States Where You Should Sell Your Property in the Next 5 Years | Home prices have spiked along with the cost of living in recent years, but that bubble could burst in some states. |
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| | Personal Finance Tips |  | Budget brands and free samples: eight ways to cut the cost of your skincare | Take advantage of refills offered by top brands, dupes of high-end products and sharing your regime |
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|  | I'm a Self-Made Millionaire: Here's My Monthly Budget | See how this budget differs from your own. |
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|  | This Is What 86% of Hourly Workers Say Would Make Them Happier | Entrepreneur | The CEO and co-founder of the small business team management app Homebase discusses the launch of his business and the findings from his company's small business fulfillment survey. |
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| | Alternative Investing |  | Who in Europe is investing the most in artificial intelligence? | Europe faces challenges in the adoption of artificial intelligence, including regulatory barriers and a shortage of skilled professionals. |
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|  | Bitcoin Price Rally May Be Over, Token Could Fall Nearly 50%, Forecaster Says | Bitcoin may have peaked for this cycle, and what awaits investors could be a steep fall in the token's value. |
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|  | TechCrunch Minute: Elon Musk's big plans for xAI include raising $6 billion | TechCrunch recently broke the news that Elon Musk's xAI is raising $6 billion at a pre-money valuation of $18 billion. |
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