You are looking for ways to invest, but you’re not totally set on learning how to buy stocks.
You’ve come up with a few ideas, but you have hit a wall…
But what if I told you there is a ton of ways to invest your money without relying on stocks.
Call us crazy, but we’ve brainstormed 55 ways to invest $1000 and make a positive ROI.
Now some of these are way out in left field, but guess what?
We’ve got proof with every single method.
Is this article for you?
Well, if you’re looking for:
- Easy ways to invest money.
- Fun ways to invest money.
- Serious ways to invest money.
- Small investments that make money.
- Unique investment ideas.
You may be in luck.
We’ve got something for everyone, and every single one of these methods has at one point resulted in a positive investment.
All you need to succeed?
- A thousand dollars or less.
- An open mind.
- Willingness to learn.
- Our list of 55 methods.
***Before we begin, we in no way advocate doing any of these methods, and highly encourage you to check restrictions in your area and do your due diligence prior to investing in any of the following. This is simply a compilation of possible methods to provide a positive but by no means guaranteed ROI.***
Lets get started!
Feeling Risky? Here are some risky ways to invest $1000
Lend To A Friend
Start A Website
Start A Clothing Line
Crowd Funded Real Estate
Trade Penny Stocks
Peer To Peer Lending
Invest In A Startup
Stream On Twitch
Start A Youtube Channel
Purchase Storage Lockers
Buy And Sell Domains
Become A Photographer
Invest In A REIT
Like little to no risk and almost certain returns? Here are our best ways to invest money
Invest In The Stock Market
Buy Dividend Stocks
Buy Precious Metals
Buy Mutual Funds
Buy Index Funds
Open An RRSP
Open A TFSA
Purchase Blue-Chip Stocks
Open A High Interest Savings Account
Open A GIC
Open A Robo-Advisor Account
Pay Off Debt
Start An Emergency Fund
Start A Cleaning Business
Start A Garden
Buy And Restore Furniture
Buy Original Artwork
Renovate Your Home
Become A Tax Preparer
Offer Landscaping Services
Open An RESP
Start A Pet Grooming Business
Build And Sell Furniture
Learn And Freelance SEO
Start A Dropshipping Store
Invest In Yourself
Trade Sports Memorabilia
What you need: A knack for finding sports talent.
There is no doubt you can make an absolute killing on sports memorabilia. To the tune of $4.415 million.
But, keep in mind that you need to be purchasing the right stuff. That is why sports memorabilia is a high risk high return investment. You never truly know if something will have value in the future, you just have to assume and play the odds favorably.
Paying $50 dollars for an auto-penned eBay 8×11 print will probably net you a loss of $50.
If you’re looking to buy sports memorabilia, the main thing you need is proof. The value of a piece is determined by whether it is real or not.
You can sit there and talk all you want about how Michael Jordan signed your jersey back in his prime. But if you don’t have any proof, such as a verification of the autograph or a photograph, it’s not worth any more than the value of the jersey.
Lend Someone Money, With Interest!
What you’ll need: Someone who needs a loan.
The thought of doing this to a friend makes some of us cringe, and not to mention it isn’t exactly topping a list of where to invest money to get good returns. But, if it can garner a positive ROI, we included it!
Your buddy is in desperate need of money and you’ve got some stashed away. You’re going to help them out, but at a cost.
Unfortunately, there are some extensive risks to consider when doing something like this.
First, the lesser of the two risks, your buddy pays you back the initial $1000 and tells you where to stuff the interest.
Second, your buddy simply spends the $1000 and never pays you back.
This happens all the time. Which is why we don’t really recommend this method of “investing”.
If you’re interested in a bullet proof loan that you’re always going to be paid with, check out bonds or even Canadian bond ETFs.
Interested in this method? No link needed! Just find someone who needs the cash.
Create A Website
What you need: A tech savvy brain and a whole lot of ambition.
Starting a website most of the time doesn’t even cost you $1000! If you’re looking at investing with little money, a website can definitely be a great place to start.
That is, if you do it yourself. Paying a developer to make your website will surely exceed a grand.
However, if you do it yourself, building a website can be pretty cheap, and very profitable if done correctly.
Start with web hosting. Initially, this will probably cost you anywhere from 50-110 dollars a year on a shared hosting plan.
Unless you’re a marketing genius, a website is going to take you anywhere from 1-5 years to get a solid audience. So if you’re really adamant on making it happen, pay for those years upfront for a discount.
After that, head to a WordPress template site and get yourself a premium template.
You get what you pay for, and free templates have poor functionality and are generally terribly coded.
Now, look to spend the rest of your budget simply on education. When we started Stocktrades.ca, the bulk of our initial startup cost was geared towards learning what the heck to do.
This method is high risk because it requires a massive amount of dedication.
But, your $1000 investment could turn into a yearly 5 figure income or more if you’re good enough.
Trade Sports Cards
What you will need: An eye for talent and a whole lot of patience.
If you’re an older individual with a sports card collection, you’re probably absolutely ecstatic at the value of it right now.
That is because back in the day sports card collecting was insanely popular.
And if you’re a young sports fan looking for things to invest in to make money, sports cards could be for you.
And those collectors patience and keen eyes are finally paying off.
How happy was the person who sold his 1909 Honus Wagner card for 2.8 million? (In the image above) I’m guessing pretty happy.
Trading cards aren’t as popular as they were back in the day, and the collectivity of them has dropped.
But, that’s not to say there isn’t money to be made. You just to have to make the right purchases at the right time.
Reward: Very High
What you will need: A computer and a whole lot of luck.
Unless you’ve been living under a rock the last while, you’ve probably heard about Bitcoin. It’s one of those high risk high return investments we all try to chase.
And, if you’ve been paying any sort of attention, you have seen the currency skyrocket to record highs with investors making millions (in some cases, billions), with the price quickly dropping back down to earth and investors who bought at the peaks literally losing their homes and businesses. So much so that investors have started to buy Canadian blockchain stocks to limit their direct exposure to bitcoin.
Cryptocurrency is nothing to mess around with, and is a very volatile industry that you need to be extremely careful in.
Most of these next big thing cryptos will cease to exist years, or even months from now.
Don’t risk more than you can afford to lose, and please don’t take out leverage to purchase it.
Launch Your Own Clothing/Accessory Line
What you will need: You will need to be able to identify what is currently trendy, and have a little bit of luck…
Trends move quickly these days and it can potentially be easy to jump in line if you can build on a trend or expand it into your own rendition. If you think you have a knack for spotting trends and what people will like, then why can’t that new trend be your clothing line?
Unfortunately, it’s a lot easier said than done. Making it in the fashion industry is extremely hard, unless you’ve got a famous reputation behind the brand. That is why starting a clothing line can be one of the riskier ways to invest money.
That being said, it doesn’t cost much to get shirts, hoodies, pants, or anything else made to how your specifications and designs. The difficulty is in selling the product.
Sure, you can go out and print a ton of t-shirts and some pants, but if you don’t think about how you’re going to sell it before hand, your $1000 will be gone pretty damn quick.
However, a trendy clothing line that does catch on can be wildly profitable, which is why we have the reward of this method as high.
Get Into Crowd-Funded Real Estate
What you will need: You will need a Fundrise or Ownerclub account.
Crowd-funded real estate is becoming the next big thing for investors who don’t want to invest in REITs (Real Estate Investment Trusts). It can be one of the very smart investments for beginners.
The basis behind crowd-funded real estate is all in the name. A “crowd” of people are investing into a piece of real estate.
According to Marketwatch, the average return on a $10 000 investment ranges from $700 to $1200 per year. If we take the average return of the stock market being 7%, you’re doing quite well with crowd funded real estate.
And the best part about it is you get to choose which property you want to invest in. This differs a bit from a REIT, as you have no choice with a REIT.
Now, this method is not without risk, and it is imperative that you know that. You must be comfortable with your initial investment being tied up for years. This isn’t an investing method where you can simply sell your shares and pull out. Once you’re in, you’re in. If you’d like something a little more liquid, consider investing in Canadian REIT ETFs.
Interested in this method? Check out the link above to Marketwatch to learn how.
Start-up Your Own Rental Company
What you will need: You will need to identify a need close to your location, and some advertising savvy or networking skills.
Starting a rental company is extremely lucrative, if done the right way.
The best part about it, is it is one of the easiest businesses to grow. Why?
You purchase equipment that you believe in your area will be a useful commodity that people choose to rent for single use rather than buying.
With your rental payments, you then pay off the equipment from your initial $1000 investment.
Now, when the equipment is paid off, you simply purchase more equipment with the rental income.
In investing terms, we would call this the snowball effect. As the snowball rolls down the hill, it gets bigger, and bigger, and bigger.
The risk in this method? Well, you may already have some tight competition in your area. Or, you may judge your market wrong and your equipment won’t get rented. So do some homework, observe your community and industries in your area.
What you will need: You will need an account with a stock brokerage.
Futures trading is a fairly simple process, but is fairly difficult to make money trading them over the long haul.
Very similar to options trading, when you trade futures you are entering an agreement with another party to buy or sell a certain commodity by a certain date.
The commodity can range from barrels of oil to bushels of wheat, whatever you decide to trade is completely up to you. But, there is one key difference you need to realize when comparing options to futures.
When you purchase an options contract, you have the option (or “right” as they call it) to execute the details of the contract at any time before expiration, and if meets the strike price expectations. The key here is option, not obligation.
When you trade futures, you have the obligation to buy or sell an asset. This means that when the buyer of the contract has the obligation to purchase say 5,000 bushels of wheat, and the seller has the obligation to deliver.
The easiest way to explain the risks in futures trading is to simply bring up leverage. A lot of futures trading is done using leverage, which means borrowing money from your brokerage to trade more than you have available in your account.
Buy Penny Stocks
What you will need: You will need an account with a stock brokerage, and nerves of steel.
Ever heard of Tim Sykes? If you’ve been in the investing circle for a while now, you probably know who he is.
Tim Sykes has made a career picking, and teaching people how to pick penny stocks.
You can “invest” for lack of a better word into penny stocks fairly easily. Open up a brokerage account and pick them.
The difference between investing in stocks and purchasing penny stocks? The large majority of penny stocks will cease to exist in the very near future.
Keep in mind if you are buying these stocks, you aren’t buying them to own the company.
You are buying them solely to ride the wave to profit, or to demise.
It is pure technical analysis and very little weight should be placed on company fundamentals. Most of these companies aren’t even required to submit financial documents.
That being said, riding the waves can be very lucrative with penny stocks, and if you’re skilled enough you could turn your $1000 investment into 6 figures.
Keep in mind though, more than likely you’ll lose your $1000 unless you get very lucky. Its the blunt truth of the business.
Reward: Low to High
What you will need: An account at a peer-to-peer lending website.
I’m not going to lie, prior to making this list I didn’t even know peer-to-peer lending existed! It seems like an interesting concept and a great way to make some money if you’ve got some spare cash lying around.
The concept of P2P lending is simple. You are essentially ditching the banks and instead lending your money to another person who may need it.
If a loan seeker needs $20 000, you could contribute your $1000 at a pre-determined interest rate and the other $19 000 would be filled by another investor.
The reward for this method of lending varies significantly due to the fact you can either lend money to individuals who have a solid background and have always repaid, or you can go the higher interest route and give money to someone who may not be the most reliable.
Either way, whenever you get involved with an unsecured loan, there is a chance you may never see your money again. That is why P2P lending must be exercised with caution.
P2P lending isn’t allowed in some states, so if you are from the USA, please check all federal and state laws before proceeding. It doesn’t hurt to check up on the laws in Canada either.
Invest In A Start-up Stage Business
Risk: Very High
Reward: Very High
What you will need: You need to be able to recognize “the next big thing”!
Investing in a start-up can be extremely lucrative. If someone were to ask me which investments have the best returns, I would be insane not to include startups. Why?
Because if you pick the right start up to get your money in with, you could be seeing returns of 100x your money or more!
Now, with that said, every investment that has the chance of very high reward, is often very high risk as well. This is the absolute truth with start-ups. You’re putting your faith in a company that currently has nothing but a good idea.
We all know cash is king, and in order for a company to be worth anything it needs to make money. If this great idea never comes to fruition, you’ve got nothing.
Your $1000 investment may make you a minority owner, as some start-ups will be seeking 6-digit financing. But don’t let that get you down. You know what owning 1% of Apple would yield you right now?
Now, you’ve probably got a better chance of winning the lottery than your start-up investment yielding you that much, but hey, you never know!
Stream On Twitch
What you will need: You need a good microphone, a knowledge of computers, and a solid camera.
Told you we had some crazy ideas about where to invest money! But the fact is, this one can lead to a massive ROI.
We are going to assuming anyone who is interested in streaming on Twitch already has a computer. If not, this investment strategy may not be feasible for you in the $1000 range.
Twitch is absolutely exploding. Whether you are streaming poker or streaming video games, there are personalities on Twitch that are literally making six figures a month.
How does it work exactly? Well, streamers are expected to put on a show or display their talent at a particular activity.
In return, viewers may choose to subscribe to their channel for a monthly fee, which may grant them access to the chat or to specific subscriber only streams.
Viewers can also give cash donations to streamers as sort of a “thank you” for doing what you do.
And finally, if you get big enough, you will be able to run advertisements on your channel and even go as far as to have companies pay you to give them a shout out.
The risk is obviously high because many, in fact the large majority of streamers will simply give up after not gaining a following.
But, for a microphone, a camera, some lighting, and editing software you can be well on your way to starting.
Launch A YouTube Channel
What you will need: You will probably need a camera, microphone. A vibrant personality is a must, and marketing skills would be an asset.
YouTube is the number two search engine in the world, next to Google.
Google is one of the richest companies in the world.
So what exactly am I trying to say here?
There is money in search, and there is money on YouTube. This is why creating a Youtube channel may be a good place to invest $1000.
Becoming a YouTube personality is not an easy feat, and most of your $1000 will simply be spent on trying to make a name for yourself marketing wise.
But if you do make it, you can expect to make a ton of money.
The best part about YouTube is it caters to a wide variety of topics. In fact, you can probably find a video for literally anything on YouTube.
- Wanting to remodel your kitchen? YouTube.
- Trying to learn a new skill? YouTube.
- Scrambling for that how-to guide on beating a particular video game? YouTube.
- Searching for how to become a YouTube personality? YouTube.
Where there is views, there is advertisements. Here is how much you can expect to make from advertising on YouTube(place link here).
Where the difficulty lies is actually getting the views and maintaining an audience. It is incredibly hard, and in fact, **enter stat here about failed personalities**
If you do succeed however, you can make decent, to amazing money, and it is definitely an avenue to consider.
What you will need: It is paramount that you understand the mathematics of playing poker.
This method of investing comes from personal experience.
I (Dan) was a professional poker player for the better part of two years. My main form of income came from playing cards.
Now, you may think that poker is gambling, which if played incorrectly it definitely is.
But, if played with a statistical edge by applying mathematical fundamentals to your game, you can literally tilt the tables in your favour and be expected to win over the long term.
Think of it this way, you can be the casino, and your opponents are the players at the roulette table. In the long run, you will walk away with money.
I do not suggest this method for the large majority of people. For one, I had been playing poker for almost ten years prior to going pro. The game simply cannot be learned in a short amount of time.
Secondly, the mental toll that is applied to your mind is one of the main reasons I quit.
That being said, if you’re willing to put the time and effort in, you can probably become a profitable card player in a year or two, and stand to earn a profit on your initial $1000.
Just keep in mind that jumping into the thick of things too early will be the equivalent of purchasing penny stocks on the TSX venture. You may get lucky, but eventually your luck and your money will run out.
Purchase Storage Lockers
What you will need: You will need some cash and a truck to haul the items away.
I’m sure you know what I’m talking about. Or if you’ve been living under a rock the last 10 years, the show Storage Wars was, and still is extremely popular.
What do these people do? They hunt down auctions where people have defaulted on their storage locker payments. By law, the storage company has the ability to auction off the goods to recoup costs.
Now you may say
“All those lockers on that show go for thousands of dollars, this is supposed to be for $1000!”
I’ve personally been to a few of these auctions, and in fact have purchased 4 units for under $1000, making more than triple my money on each one.
The TV shows prices are inflated, and should not be a metric used to estimate the value of a storage unit.
This is a labour intensive form of investing, and you can definitely lose your shirt on a bad unit. But the key is to purchase units where you can visibly see profit, not where stuff is stashed in boxes.
Smaller items can quickly be sold via social media or word of mouth. Bigger higher priced items may sit a while, so make sure you have enough storage for what you are purchasing.
Buy And Sell Web Domains
What you will need: You will need to know what makes a good domain, and you’ll need an account with some domain registries.
Domain flipping has been around since the beginning of the internet, and some people who invested money early are now making a killing.
There is a lot more than meets the eye when it comes to the value of the domain. To the blissfully unaware, you may think the name is all that matters, when there is much more than that.
And that is why good domain flippers can make very good money, and domain flipping is an excellent way to invest.
The amount of links going towards the domain and if the domain has ever incurred any Google penalties comes into play as well.
You need to keep a keen eye on quality domains that are up for expiration. If you manage to pick one up, especially for the cost of registration, you could turn a 14 dollars registration fee into 4 or 5 figures.
That being said, very few domains actually make it to this stage. They are swept up by third party registrars and are often marked up immediately.
You can still find some diamonds in the rough though, and domain flipping is still very profitable if done correctly.
What you will need to start: You’ll need knowledge in analyzing domains, and web development experience.
Website flipping is very similiar to domain flipping, which we talk about in this list as well.
Finding solid domains or struggling websites and injecting some life into them can pay handsome dividends, and it is an amazing way to invest your money. However, you need to have some sort of skill when it comes to web development, as paying for someone to do the redesign will eat up far more than your initial $1000.
Some websites at one point in time were well oiled machines, making a decent amount of money. The owners may have decided it was too time consuming or simply lost interest.
Here is where you come in. You’re simply going to inquire about the website and see if it or the domain name is for sale.
Once you’ve purchased the website, you simply get the gears in motion again. Chances are the old owner is willing to sell the website at a fraction of its past value, as simply paying for hosting is more of an annoyance.
A $1000 investment into a solid domain or two can turn into either a quick sale of the website for a profit, or a long standing income from the websites that you rejuvenated.
Invest In Collectible Coins
What you will need: You will need extensive knowledge of coins and their value to collectors.
Investing in coins seems to be something they did 30 years ago, kind of like the collectible sports card era. And yes, the amount of collectors themselves may have decreased, but the coins are still very valuable and collectible.
The problem with investing in coins is that there are a ton of fakes. In fact, if you don’t know exactly what you are doing, you’re more than likely going to get ripped off or just buy something that isn’t valuable at all.
You need to do extensive research if you are ever to make money collecting coins, and you have to be in it for the long haul.
Don’t expect to purchase a coin and flip it for double the value a year later. It may take multiple years for the value of the coin to go up. If you decide to invest your $1000 this way, don’t expect or rely on touching the money for at least a few years.
Investing In Wine
What you will need: You will need knowledge of wines, and the ability to not drink your investments!
Yes, this one kind of blew my mind too. Who knew that you could invest in a bottle of alcohol and potentially make money.
This method of investing is more so a hobby at our price range of $1000, with the chance that it may pay off one day!
Investing in very expensive fine wines involves extensive capital put into insurance and storage for the bottles. You, on the other hand could simply be purchasing bottles of wine you enjoy and hope they go up in value.
With a little bit of research, you could actually have a very good chance of buying a bottle that will appreciate.
And think of it this way, if it doesn’t, at least you get to drink it!
Become A Photographer
What you will need: All you will need is a camera and ideally some editing software. Marketing savvy would be an asset.
Photography has a ridiculously low barrier to entry. Which is why it can be one of the best investments to make if you’re looking for a career or hobby.
You simply need a camera. That’s it.
Now, that will get you started, but that doesn’t mean you’ll get work. The ability to actually acquire work in the industry is incredibly tough as the market is extremely saturated.
That being said, if you have a knack for taking photos and know what pleases most people’s eyes, you can have massive success in this business.
Here are just some of the fields you could make a living off of with photography:
- Real estate pictures.
- Wedding pictures.
- Family pictures or portraits.
- Sporting event pictures.
- Travel and entertainment photography (this one is the best one).
The possibilities are endless. Keep in mind that although there is education to become a photographer, it is not necessary.
A lot of people who have had success in the business have chosen to go the self education route. And that also rings true across countless industries.
Invest In A REIT
What you will need: You will need a brokerage account.
Lots of people have dreams of investing in real estate, but just don’t have enough money to make the investment.
Lots of the wealthiest people on earth are real estate moguls. But you can’t afford the property, or a second mortgage. So what is one of the best ways to invest in real estate without actually owning the property?
Well, you can either do something called crowd funded real estate, which we discuss in this guide, or you can buy a REIT.
A REIT (Real Estate Investment Trust) is a company that essentially owns a ton of real estate.
This could be anything from commercial and residential real estate, to warehouses.
You then get a share of the rent. You are essentially part of a huge group of landlords that own these REITs.
Legally REITs have to pay out 90 percent of their income to shareholders in the form of a dividend. So if the trust is profiting, you are profiting. They can’t simply decide to pocket the profits.
Be aware though that REITs often charge an upfront fee to purchase. It is crucial you learn these fees before making your purchase.
What you will need: You will need to have a knack for mechanics, and it helps to know the vehicle market, and common issues with popular models.
Flipping vehicles is a very popular side hustle, and for good reason. Ever heard the phrase one person’s trash is another person’s treasure? It can definitely apply to this situation.
Some people are terrified at the thought of even opening the hood to try and diagnose the problems with their vehicles. So instead, they leave it sitting in their garage or on their driveway for days, months, or even years.
Little do they know, the vehicle simply needs a new battery, alternator, or maybe a starter. They sell you the vehicle for what they believe it’s worth, which inevitably isn’t much as they believe it is completely hooped.
You take the vehicle home, diagnose the problem, fix it and flip the vehicle for usually double the price.
Now, the problem with this method is there will be vehicles that you simply strike out on. A simple problem you believe you’re going to fix with a $100 part may cause $1500 of problems to come to light after the vehicle is running.
At this point, depending on the vehicles value it is probably better off just selling the thing for scrap metal.
The best part about it? If the problem is simple, you can double your money in literally a weekend.
Risk: Medium to very high
Reward: Low to very high
What you will need: A brokerage account, and this book.
Trading options isn’t for the faint of heart. That is, if you’re taking the riskier route, like trading naked calls.
That’s why we’ve classified options trading as a “low to very high” investment. The losses can range from the cost of a contract if you’re playing it safe (which can be a couple hundred bucks or less), or literally infinite amounts if trading naked calls.
All that being said, covered calls are a great low risk way to earn money in the stock market.
Anyone who is a notorious critic of options has never really read up on this strategy. This is why we are going to include a complete guide to options trading as a reference, and not just one strategy.
Interested in this method? Simply open up a brokerage account and read some options trading books!
Invest In The Stock Market
What you need: Knowledge of the stock market, and a brokerage account(With $50 in free trades!)
In terms of ways to invest, the stock market is probably one of, if not the best method.
But a lot of people don’t really know how to invest money in stocks
The stock market has historical proof backing the claim that it is an excellent way to invest $1000.
What can you expect to earn? Well, Dave Ramsay says you could earn up to 12%.
What would $1000 look like 30 years down the road assuming a 12% average return?
Not too shabby. You can clearly see the power of compounding interest at work. A 12% return essentially doubles your money every year.
But keep in mind, the stock market is only effective when you invest for the long term(5+ years).
Purchase Dividend Paying Stocks
What you will need: You need an account with a stock brokerage.
One of the safest ways to invest your money is to purchase blue-chip dividend stocks.
Every successful stock portfolio has a portion dedicated to dividend paying companies. Why?
When you start earning money on investments, this money generates income itself, which generates even more money. This is the power of compounding interest.
Now, keep this in mind. The large majority of blue-chip stocks pay dividends, but companies that pay dividends are not always blue-chip stocks.
This is crucial to know because a lot of people fall into the trap of making investments in companies that are either paying out way too much in the form of a dividend to survive, or have been frequently decreasing the amount they pay out.
New investors seem to think a company that pays a dividend are automatically safer, but this couldn’t be farther from the truth. Always do your due diligence and you’ll be raking in the dividend payments in no time.
Invest In Precious Metals
What you will need: Connections with a precious metal dealer or a brokerage account to buy online. Talk to your bank, some offer metal purchasing.
Investing in precious metals like silver and gold has always seemed to spike during stock market uncertainty.
When the markets are shaky, people often rely on gold to store their money instead of keeping it liquid.
Now, just like the stock market gold is almost guaranteed to go up over time. But compared to the stock market, how does it do?
Well, according to Investopedia it’s actually done better than the stock market. But it really depends on what time period you are looking at. Check out the article for more details.
Either way, if you want to start investing in precious metals, you can do so simply by opening a brokerage account and buying “virtually”.
But, if you want to literally own gold, you can find numerous stores and online websites that will physically sell you the bars or other items. Obviously for $1000 dollars you won’t be getting anywhere near a full block of gold, but you get the idea.
Invest In Mutual Funds
What you will need: You will need an account through your bank or a stock brokerage.
Mutual funds are taking a lot of heat these days, and rightfully so.
We are entering a day and age where people are becoming more aware of what is happening with their money. Access to investing vehicles has never been more available as it is now.
We are educating ourselves on what our investments are doing for us and we are realizing mutual funds are taking a huge chunk of our portfolio away in the form of a Management Expense Ratio.
That being said, some mutual funds are well worth the high fees, and if you are looking to go down this investment route, you should definitely do your research. Keep in mind these are few and far between.
We’ve included mutual funds in our ways to invest because they simply exist. We don’t suggest investing in them nor will we ever.
Simply put, there are better options out there that either provide equal or better returns and cost substantially less to the investor to be a part of.
If you have absolutely no idea what you’re doing in terms of money management and simply need someone to take the reins and invest it, then mutual funds are for you.
Just be aware that there is a cost for everything, and over the long run, they may end up costing you as much as 33 percent of your portfolio.
Invest In An Index Fund
What you will need: You’ll need an account with a brokerage.
An index fund is very similiar to a mutual fund or an ETF in that it is set up to track and follow a particular basket of securities.
In an index funds case, its success or unlikely demise is based on a certain index, like the TSX or the S&P 500.
Index funds have outperformed most mutual funds throughout history, and are an option you absolutely have to consider if you are looking for some passive investing options.
Index funds are often cheaper than mutual funds and in some cases ETFs. This is simply because the index fund tracks a whole index.
There is no need for rebalancing or anyone to actually monitor the portfolio. It reflects the index you have purchased and that is it.
The downfall with index funds is you won’t find any diamonds in the rough like you can picking individual stocks.
But if you’re near the end of your working career and don’t necessarily want to be taking risks with your retirement portfolio, there isn’t a much better option out there than index funds.
Start A RRSP
What you need: A bank or brokerage RRSP account. Here’s $50 to start
RRSPs have long been a staple of every working Canadian. Why?
Because they are one of the best things to invest in to make money at any age.
First off, they help you save for retirement. Lots of Canadians struggle to save and the idea of money being tucked away in an account that penalizes you for pulling it out is great.
Second, the tax benefits. Now, we won’t go into too much detail about this right now, but the higher your income, the more you benefit from an RRSP.
This is a low risk, high reward investment.
That is, if you do it right.
Too many people pull RRSPs out early, and negate literally every benefit they have.
RRSPs aren’t a do as you please savings account. Don’t use it as a emergency fund, and it will pay off handsomely in the long run.
Open A TFSA
Reward: Very high
What you will need: A social insurance number and an initial deposit.
The TFSA was introduced in 2009 by the Harper government and revolutionized the way Canadians could invest.
The TFSA is considered one of the best ways to invest money in your 20s and beyond. The earlier you start, the faster it’s tax free earnings can grow into more via compounding interest.
With a $5500 a year limit, $1000 isn’t the biggest investment but it can end up paying off in the future. Why?
Well, the reason is in the name of the account:
Tax Free Savings Account.
Any money earned in this account is one hundred percent tax free.
Invest in an up and coming mining company that rises in value tenfold in one year? You’re $9000 profit is tax free.
Take that $9000 and do it again? Your $81000 is tax free!
What you will need: A bank or brokerage account(Here’s $50 free to start)
Buying bonds can’t possibly be any more boring than it already is. But, there is a reason for that.
Bonds are safe, reliable, and easy ways to earn a return on your investment.
Older investors primarily place most of their money into bonds due to the reduced risk as they approach retirement.
If you’re going to buy bonds, be well aware you are never going to hit a home run here. A bond is simply purchased and the interest rate is determined at the time of purchase.
When the bond matures, you get your money, simple as that.
Over the last 90 or so years, common stocks have returned 10%, while bonds are around the 5% mark.
Invest In ETFs
What you will need: You will need an account through a stock brokerage or bank. Or you could also use a Robo-Advisor.
ETFs have been literally taking over the investing world recently. And for good reason.
People are tired of paying big banks big bucks to manage their money. Why?
Because the smallest fees can eat up a substantial amount of your portfolio.
ETFs are an easy way to gain market diversification and invest in a group of stocks, with the click of a button. That is why they are hands down one of the best ways to invest money.
If you choose to go with a Robo-Advisor, fees are often much lower than the average mutual fund charges.
Invest In Blue-chip Stocks
What you will need: If you don’t have one already, you will need an account through your bank, or a stock brokerage in order to buy and sell stocks.
Investing in blue-chip stocks is about as bullet proof as it gets in terms of investment strategies. Because of this, it is one of the best ways to invest your money.
Studies have long shown that investing in the stock market over the long term has substantial benefits. Especially when you eliminate the large majority of your risk by investing in blue-chip stocks.
By blue-chips, we mean stocks that are resilient to almost all market conditions. A prime example of such is the Canadian banks. During the 2008 financial crisis the Canadian banks, although they took a beating price wise, came out of the situation relatively unharmed. In fact, your best plan of action during these frantic sell offs was to buy way more than you currently owned.
Canadian banks never slashed dividends, and 90 percent of them had fully recovered from the biggest economic crisis since the dot com bubble in a short two year period afterwards.
If there is one industry you can never go wrong with it is the Canadian banks. And we don’t just mean that in Canada, we mean it worldwide.
That being said, there are plenty of other industries to look at that can fend off market downfalls. Look for things that humans always need, regardless of the economic conditions.
Do people buy automobiles during a recession? No, so it may be wise to avoid cyclical stocks like Ford, who’s price fluctuates wildly, dependent on the economy. On the other hand, people always need to eat, so a stock like General Mills may be one to look at.
Interested in this method? Open a brokerage account and start researching!
High Interest Savings Accounts
Risk: Next to none
Reward: Very low
What you will need: You will need to talk a bank about opening a High Interest Savings Account.
High Interest Savings Accounts have been around for a while and are considered one of the safe ways to invest money. It has been an easy way for people to place money in an account that is easily accessible, and earn interest on it.
The thing is, the interest just isn’t that much. In fact, with a balance of $1000, you can probably expect a rate of under 2%.
The only thing I would ever suggest being placed in a high interest savings account is your emergency fund. Something you need access to immediately in case of an emergency.
Other than that, high interest savings accounts don’t have too much appeal these days. There are simply better, and just as safe methods to earn double, maybe even triple the return on your investment.
Use this method if you have a feeling you may need this $1000 down the line. Just keep in mind that your money may only be earning you a measly $20-25 dollars per year.
Invest In A GIC
What you will need: You will need to talk to your bank about investing in a GIC.
If you’re looking for some good things to invest in, a GIC may not be the most optimal, but it is safe.
A GIC, or Guaranteed Investment Certificate is a Canadian specific investment method that guarantees you a fixed rate of return over a certain amount of time.
Much like a bond, although you aren’t loaning your money to a specific company other than your bank, GICs are a very safe form of investment.
The interest rate depends on a number of things including:
- The length of time.
- The financial institution.
- Whether you have the ability to withdraw the funds or not.
The third item is a decision you must be aware of prior to investing in a GIC.
For GICs that are non cashable, there tends to be a higher interest rate but you will not have access to the money without penalty.
You can expect to earn anywhere from 2-3 percent on a non cashable GIC and 1-2 percent on a cashable.
Because it is essentially a guaranteed form of investing, GICs offer very low interest rates and higher returns can often be achieved by taking barely any additional risk.
But for the extremely conservative, these investments are perfect.
Interested? Ask your local bank!
Open Up A Robo-Advisor Account
What you will need: The money and an internet connection, that’s about it!
Ever felt the need to invest your money, but have absolutely no idea what you’re doing?
Robo-Advisors are one of those smart investments for beginners. Why?
Because these “robots” make all of your investment decisions for you, with crazy good results.
More and more people are getting fed up with the fees that their big bank or mutual fund manager is charging them.
Over time, that 2.5% that you’re paying your bank could literally eat through one third of your portfolio.
Robo-Advisors on the other hand offer ridiculously low fees (often 0.5% or less) and are super easy to use.
Sign up, deposit money, answer a series of questions to determine your risk tolerance and portfolio diversification then bam, you’re an investor.
Particularly an investor that doesn’t need to worry about investing.
What you need: A USD or other currency equivalent account through your bank.
Don’t confuse this method with Forex trading!
What we’re talking about here is taking $1000 CAD and converting it to USD.
The Canadian dollar has been in the toilet the last few years, and if you’ve got a good grasp on economics, you may think it’s going to go back up.
Keep in mind this can be a very long and drawn out process, but is generally considered one of those easy investments to make money over the long term.
Currency value changes in very small increments, which is why people are drawn to leverage and forex trading.
Interested in this method? Simply go to your bank and start a USD savings account.
Pay Off Those Debts!
What you will need: A balance on a credit card, line of credit, a loan for a consumer item.
The average Canadian is over $21 000 dollars in debt.
You read that right, twenty one thousand dollars.
The worst part? This doesn’t even include mortages!
People are living beyond their means. That seems to be a laser accurate statement in 2018 and it’s harming our quality of life, and our pocketbooks.
There is literally no risk to paying off debt, and it is highly advisable to do so prior to making any sort of investment decisions. Why?
Well, think of it this way. You’ve got a credit card with a $1000 on it, and you have the option to pay that credit card off, or invest the $1000.
Your credit card is 19% interest like most, and your investment will make you 10% a year.
Doesn’t take a genius to see where the problem lies here does it?
Your gains are simply gobbled up by your credit card company and then some. You’re actually falling behind, not getting ahead.
Pay that debt off! And put more money in your pocket.
Interested in this method? No need for a guide, simply pay your card off! Or if need be, talk to a company that specializes in consolidating debts to get a lower interest rate in the mean time.
Create An Emergency Fund
What you will need: You’ll need some willpower!
How can an emergency fund produce a positive ROI?
Well, it may not produce a positive ROI in itself, but you will be much better off having one, and we will explain why.
If you place your $1000 in some sort of investment that is non cashable like a GIC without having an emergency fund, a sudden charge may have to go on something like a line of credit or credit card.
When you do that, you’re making 3 percent on your GIC and paying 20 percent on your credit card.
You may think you’re “investing” when really you are losing at a rate of 17%.
Always have money stashed away for a rainy day situation prior to investing, such as a vehicle repair expense. You really cannot take advantage of the stock market’s guaranteed statistical returns over the long run if you continually need to pull money out.
Start A Cleaning Business
What you will need: You will need an ad of some kind, somewhere. Or possibly business cards to place and give out. Plus all of the supplies.
We have mentioned a lawn mowing business in this list of the top 55 ways to invest $1000 because people don’t like mowing their lawn.
What do people hate more than mowing their lawn? CLEANING THEIR HOUSE!
People hate cleaning. In fact, this study states that more than half the respondents said it was difficult to work up the motivation to begin spring cleaning.
Wherever there is a lack of motivation on one end, is a chance to make money on the other. Cleaning supplies are dirt cheap, it may cost you just $500 to get everything you need, and that includes a vacuum, if the homeowners don’t already have one you can use that is.
The initial costs of advertising and finding clients is where the difficulty lies in this method. There are a lot of cleaners out there, and you need to be good. But, if you have the dedication and some solid initial advertising, your business will eventually go from paid advertising to word of mouth acquisitions.
Running expenses after that point would simply be cleaning supplies, as your schedule will be absolutely packed from being so proficient at your work.
Plant A Garden
What’s Needed: Soil, seeds, water, somewhere to grow them.
A garden is an amazing way to invest your money, and it has multiple benefits. Why?
Quick version? Some costly items bought in the store can be grown at home and save you tons of money year round!
Secondly, growing your own vegetables can have huge benefits, and a positive ROI if you choose to resell the veggies to happy customers.
There is some other benefits that don’t have anything to do with investing as well:
- Homegrown vegetables taste substantially better than store bought.
- You know what is going into your food.
- The pride of producing a delicious product to feed your family.
- Tending a garden keeps you in shape.
Restore And Resell Furniture
What you will need: You’ll need a workshop, and a keen eye for design.
I’m sure we’ve all seen this strategy before.
In fact, I’m sure most of us own some sort of refurbished furniture in our house right now.
Fortunately the practice is getting more and more advantageous, due to the popularity of mid-modern design and vintage or retro decor. Some vintage designs nailed it, and were well built, so a little modern touch up and they can be incredible pieces.
It makes us want to open up our wallets and own it, which is why it is one of the best ways to invest $1000. You may not even need that much to be honest!
And the best part is, with social media and their business pages available, it’s becoming super easy to sell furniture.
So, if you’ve got a garage that has some open space and a knowledge of power and hand tools, it’s pretty painless to get started.
In fact, if you already own all the tools and have some grubby pieces of furniture sitting in your house, you can get started for absolutely nothing. Talk about a ROI!
We’ve kept the reward low as we are well aware that time is money. Restoring furniture is very time consuming and in the end may not be worth it for you.
Buy And Sell Original Art
What’s Needed: A knowledge of the art market and what drives it up and down.
This one seems like a no-brainer! Buying art is one of those low risk high return investments that everyone seeks. But, there are a few catches.
Everyone knows art appreciates over time, if you buy the right pieces.
Unfortunately your $49.99 IKEA print won’t be worth anything in the future as there are millions of similar pieces on the market, are produced by a computer, and have no historical significance at all.
We’re talking about legitimate, unique art pieces here.
Whether purchased at a gallery or directly from the artist themselves, you have a very good chance of cashing in on your original artworks.
There is also a number of investment funds that focus on buying and selling artwork to generate returns.
You’re probably not going to find a future million dollar piece for a thousand dollars, but you can definitely expect the value of an original piece to go up over time, especially if the artist becomes more popular in the mid-term.
What’s needed: A contractor, or a knack for home renovations.
There are a ton of home improvement jobs you can do to your home for in and around $1000.
The best part about it is most of these jobs instantly increase the value of your home, making them one of the best high return short term investments.
The return on investment is based whether or not you can do the work yourself.
In Canada (be sure to check your areas rules/regulations) most home owners can pull a permit and do renovations on their homes themselves.
A job that costs $2000+ dollars from a contractor can often be done for $1000 or less by a home owner.
Now, make absolutely sure you know what you’re doing, and study all applicable codes/regulations before commencing any work. Why?
There is no quicker way to destroy the value of your home than a bad renovation, meaning either poor construction quality, or one that does not conform to local legal standards.
Become A Tax Preparer
What you will need: A tax preparation course.
No matter how simple a person’s tax return is, there is always a fear of messing something up.
That’s why most people seek advice when filing their taxes.
And by advice, I mean they like to drop their paperwork off and have it done for them.
And that is why becoming a tax preparer is one of those easy investments to make money.
A tax preparer is a great way to make a ton of money during tax time, and you’ll have the course (which is usually in and around the 700-1000 dollar mark) paid off in no time.
Be aware that this method will require a crazy amount of dedication and hours during the February-April time period.
Offer Landscaping Services
What you will need: A love for the outdoors!
People generally HATE cutting their lawns. It’s a pretty well known fact. Whether it’s because they just can’t stand the idea of being outside in the baking sun for half an hour, are simply too busy, or they could possibly be allergic.
This presents a huge opportunity for those who either want to just make some side cash or want to start a full blown business. That’s why it is on our list of the best ways to invest money.
According to Home Advisor, the average cost to cut a lawn these days is $55-$255!
Now, the cost of your lawn mower depends on what your goals are exactly. Do you want to be cutting acreages to make the higher profit per lawn? You’re probably going to blow all your cash on one mower, and then still potentially need a trailer to haul it!
However, find an interested friend and purchase a couple of reliable self-propelled mowers for $500 each and you’re off to a really great start.
Depending on how many lawns you can cut in a day, you’ll have those mowers paid off in no time and the profits will be flowing in! Who knows, maybe it could turn into a full-fledged business when you’re done. It is for this reason that we’ve determined that the reward is high.
People will always want their lawns cut, just as people will always want their houses cleaned.
Start A RESP For Your Child
What you will need: Talk to your bank about setting up a RESP account.
A RESP, or “Registered Education Savings Plan”, is a program implemented by the government of Canada to allow parents to save money for their children’s education.
If you are saving for a child under the age of 18, the government places money into the RESP as well.
With an RESP, you have a multitude of options to invest in, and this can be a very proactive way to set aside money so your children can go to post secondary without the stress of having to pay for it.
Now, be aware that some of these plans require monthly contributions, so even though we are trying to work with $1000 here, it may be wise to set aside more than that for your child, especially since according to Statistics Canada, the average 1 year tuition for an undergrad was over $6000! Yikes.
Interested in this method? Talk your bank!
Raise Some Chickens
What you will need: You will need to love animals, and their needs, and their smells.
And you will also need to check your local bylaws regarding keeping livestock…
This method seems about as far fetched as they come, but trust me, it can pay off.
Raising your own chickens for meat and eggs has multiple benefits. First off, eggs and chicken are ridiculously expensive from the store. Getting free run eggs can run you up to $6 a dozen, while most raising fresh farm eggs are selling them for $2.
If they are selling them for $2 a dozen, you can probably imagine their cost is under $1 for 12 eggs.
There are a couple things you need to take into account prior to raising chickens. First, check if you are even allowed to do it in your city (if you are a townie). If you are on a farm or an acreage, you’re probably good to go.
Secondly, you will need a coop, or in other words, a chicken home. Most of the cost in this method will come from installing the coop, and the initial cost of the chickens. After that, you’re essentially paying very minimal to feed them, and they are pumping you out non stop produce and eggs! Talk about a cluckin’ deal!
Start Your Own Car-washing Business
What you will need: A pressure washer and some cleaning materials
No doubt people pay good money to have their cars washed and detailed.
In fact, it can cost $150 or more for a couple of hours worth of detailing work on your vehicle.
What does this present? An open opportunity to undercut the big players!
You don’t need anything fancy to wash and detail cars. Your start up costs would consist of buying a good quality pressure washer, a solid vacuum, and a bunch of cleaning material.
If you really want to cut costs, you can wash and wax by hand and skip the pressure washer. But keep in mind that technology has a way of making things much faster as well. The more cars you can detail, the more money you make.
You’ll have no problem charging upwards of $30 an hour to detail vehicles. And this is substantially cheaper than the big outfits charge.
Start A Pet Grooming Business
What you will need: You will have to love animals! Plus you need a pet grooming course, and supplies.
Animals are spoiled these days, more so than before. And rightfully so, they are family!
We not only feed them higher quality food, buy them crazy expensive toys, and even boots for their walks, we also love keeping them clean.
And the best part about it, is people will pay good money to have their furry friend smelling, and looking fresh. This is exactly why it can be a smart investing idea.
Online courses are available for as little as $599. Or, you could try to wing it and just set up shop.
Keep in mind though, because pets are family, owners tend to be very particular on who they choose to take care of their pets.
In fact, you may end up buying the course, the supplies, and having to groom dogs for free to build up some sort of portfolio.
But trust me, if you can get the hang of it, knock down the time it takes you per pet (without reducing quality) you can literally make a career out of it depending on the popularity in your area.
The average salary of a dog groomer in Canada is around $33,000 a year as per PayScale. This works out to around $16.50 per hour.
This may not sound like much for a full time job, but for a side hussle it’s pretty good! You’ll have that $1000 investment paid back in no time.
Plus, you get to hang out with animals!
Build And Sell Furniture
What you will need: You will need tools, and carpentry skills.
Building furniture is a great way to turn a simple hobby into a cash making machine. It is a great way to invest $1000.
Although if you’ve already got all the tools, this investment probably won’t even cost you $1000.
If you don’t, have a look at our guide at the bottom for the tools you’ll need to get started.
Along with numerous other methods in this guide, social media has made it extremely easy to sell items such as home made and refurbished furniture.
You really have to weigh your total time to the profit you are making here if you don’t think of an activity like this as a hobby.
Making your own furniture takes a ton of time, and people may not have the same appreciation towards it as you do, so their offering price will be lower.
If building furniture is more of a hobby than a business venture for you, then you’ll more than likely be happy getting anything in return!
Learn To Utilize SEO/SEM
What you will need: It would be handy to take a course, or read several books on search engine marketing or optimization.
Search Engine Optimization, or “SEO” for short has been around even prior to Google.
Its become exponentially more difficult over the years, but it is still possible to make some serious profits being a freelance SEO contractor.
Prior to Google rolling out numerous updates to stop it, spam was rampant and so called “SEO” experts were simply exploiting the system.
If you can stand out from that crowd and practice safe 100 percent “whitehat” SEO methods, you will have bloggers and companies flooding your inbox with requests to help them get more exposure with their websites on the internet.
The best part? As the world becomes more and more dependent on the internet and social media, SEO will only become more, not less, vital to a businesses success.
Start A Dropshipping Store
What you will need: You’ll need a website and an account at a drop shipper.
Ever dreamed of owning your own store? A lot of people have.
Buying and selling marked up goods to make money is pretty appealing to a lot of people.
The problem? It mostly all lies in the inventory. It can cost tens of thousands of dollars in start up costs to open a store, but with drop shipping the process is much much easier.
What is drop shipping? You’re simply building a store and letting a website like Amazon handle the inventory.
When a person purchases an item Amazon usually handles the shipping as well.
The problem with this method is profits are severely limited, and it’s completely justified. You’re simply giving users the option to buy a product, while another company has to house the inventory and ship the product.
All that being said, if you start multiple succesful drop shipping websites, there is the potential to make some decent cash.
Invest In yourself
What you need: Absolutely Nothing!
Well, you need absolutely nothing besides the money of course.
An investment in yourself may not make you the most money, but it can go a long way in improving your overall quality of life.
Now, you’re probably reading the title and thinking wait a minute, you told me every one of these methods had a positive ROI.
How does investing in yourself make you money?
Educational courses and books on how to invest or how to be frugal can pay extensive dividends throughout life.
Educating yourself about money can mean the difference between being 40 years old and mortgage free, or 40 years old and buried in debt.
This is only one out of thousands of ways you can invest in yourself and turn a profit. We included many ways that investing in yourself with that $1000 can be done in this article so read on!