What's up guys and welcome back to wall street millennial on this channel, we cover all things related to stocks and investing, as i'm sure you all know, the stock market is the greatest tool of wealth creation in human history. If you just bought the s p 500 index 28 years ago, your investment would have increased 9 fold in value. If you factor in dividends, it would be more than 10 times. The problem with the stock market is that it takes money to make money if you're barely scraping by, and you can only save a hundred dollars a month after paying the bills you won't have enough to retire on, even if the stock market continues its strong performance.

The good news is that with the internet, there are a wide variety of side, hustles that just about anyone can do to earn extra income for investing. If you can just make twenty dollars per day in extra income, this will be enough to build a respectable investment portfolio. Twenty dollars per day adds up to six hundred dollars per month. We assume an eight percent annual return, which is in line with the s.

P. 500, historical average by the end of 32 years, you would have more than one million dollars. 230 thousand dollars is the money you invested in 834 000 as the investment gains. So just saving twenty dollars per day can accumulate to be a life-changing amount of money.

By the time you retire in this video we'll go over the top five side hustles of 2021, where you can make at least this amount of money. Almost anyone should be able to do at least one of these options on the list we've ranked them so that each entry on the list gets better and better with the last one being the best option. In our opinion, we're not sponsored by any of the companies mentioned in this video, so these are just our honest opinions on what the best options are. The first entry on our list is being a driver for uber or food delivery platform such as doordash.

The good thing about doordash is that just about anyone can do it, the only requirements are to be 18 years or older, have a car insurance a valid driver's license and not have any duis or other major traffic related violations. The reason that this ranks so low on the list is because you generally need a working car, so not everyone can do it. However, there is an exception to this. If you live in a big city, you can do doordash on a bike.

You can usually find used bikes for less than one hundred dollars and you don't need to pay for gasoline or insurance. If you live in a medium-sized city, where a traditional bike wouldn't be viable, you could invest a few hundred dollars in an electric bike which can go much faster once you've signed up with the app you can choose when you want to work. Whenever you have time, you can turn on the app and you'll get paid, based on how many deliveries you make, how much money you can make on doordash depends on the supplied demand balance in your local area, but in general you can usually expect to make between Two and ten dollars per delivery, plus any tips or incentive bonuses. When you work during busy times most people make between 18 and 25 dollars per hour after taxes and gas expense.

You'd probably make around 15 per hour, so you'd only have to work less than an hour and a half per day to make the 20 per day goal and have 1 million dollars by retirement. If you do decide to take on this side hustle, there are tons of youtube channels that talk extensively about how to maximize your earnings as a delivery driver. It would be well worth your time to check them out. The next entry on our list is something that doesn't require a car and doesn't even require you to leave your home.

All you need is a computer and an internet connection, and if you're watching this video, then you probably have that many companies have audio files that need to be transcribed into text. This can be lectures. Speeches conference calls or anything else where they need a written record of what was said when they have a lot of audio files. It can take a long time to type them out, so many companies outsource the transcribing.

There are multiple websites that you can sign up for and get paid to take on transcribing jobs. The best part about these jobs is that you don't need any experience or equipment other than your computer when you sign up for an account. They'll give you a 60. Second, audio clip as a test, if you can accurately transcribe the audio in the clip, you'll be approved by the platform, and you can start making money, they pay 20 cents per audio minute, which adds up to 12 dollars per hour.

While this isn't a huge amount of money, the hours are very flexible and you never need to leave the comfort of your home to make the target of 20 per day. You'd have to work about 2 hours per day. Most people probably spend more time than this playing video games. There are many websites that will pay you for transcriptions.

Transcribe me has some of the highest rates in the industry of up to 20 dollars per hour, but the trade-off is the higher the hourly rate. The more difficult it is to pass the competency test, as they have less tolerance for errors. The next entry on our list is teaching english as a secondary language or esl online. The only requirements are having an internet connection and english as your first language.

Historically, most esl demand has come from china. Unfortunately, with the recent government crackdowns on for-profit education, they no longer allow foreign teachers to teach english online, but this does not mean that all hope is lost. There is still significant demand for esl from south korea. The website teflhero.com has a great article going over the options for online esl teaching to korean students.

We put a link in the description below the easiest option on the list is spicas. On this platform, you teach english classes to students, business executives and government officials who need to learn english. The best part of it is that you don't need a college degree or any english teaching experience. If you have no experience, you'll get paid on the lower end of the pay scale at 9 per hour, you also have to commit to at least 20 hours of teaching per week.

If you have a teaching english as a foreign language, certificate or college degree, you can get paid higher rates of up to 20 dollars per hour, but to make the goal of 20 per day and become a millionaire in 30 years, the 9 per hour no experience Option is already good enough. There are tons of apps that pay money for taking online surveys. The problem is that most of them only pay you a few pennies for a 10 minute survey, you'd be lucky to make two dollars in an hour. If you want to make real money, you need to take it to the next level and do consumer focus groups instead of consumer surveys.

Large corporations that produce consumer products often spend tens of millions of dollars in consumer research. They need feedback on their products to make sure they are good enough before their main launch. One of the best ways for them to do this is to ask real consumers what they think about the product. One of the best websites for this is respondent.io.

Based on your occupation. You can get paid different amounts for the focus groups. If you're a software developer, you can get two hundred dollars per hour. One hundred fifty dollars per hour for a marketer one hundred dollars.

For someone who works in a sales role and seven hundred dollars for a corporate executive, these are obviously huge amounts of money, but you need to have a job in these specific categories to get into the focus groups. The last side hustle on our list is narration. Many companies have commercials tutorial videos and more for which they need someone to narrate. You can get paid to narrate scripts from these companies.

The best platform to do this on is fiverr. The rates for voice narration are surprisingly high. Most people charge in the range of 15 per 100 words. 100 words takes about 30 seconds to say, even if it takes you, six takes to get the recording right.

It would only take you three minutes to make fifteen dollars. If you can get a lot of clients, you can make three hundred dollars per hour, based on this rate, based on the side hustles we described in this video. It should be well within reach of most people to save twenty dollars per day. The most important thing is to work the side hustle consistently and invest the whole thing into the stock market.

That's the only way that you can turn it into 1 million dollars by retirement. These are just the top 5 side hustles that we found, but as the economy digitizes, there are hundreds of side, hustle opportunities that you can do from your home. If you have any ideas for other side hustles, we should have included on this list. Let us know in the comments section below, if you enjoyed this content, make sure to hit the like button and subscribe.

So you don't miss future videos as always. Thank you. So much for watching and we'll see in the next one wall, street millennial signing out.