Robots Are Coming for Your Job

Dear Money & Crisis Reader,

A passive income isn’t just a great way to earn some extra cash. It’s a key part of bulletproofing your finances against a crisis.

You see, no matter how secure your job may seem — no matter how essential and understaffed your sector is — there is no such thing as a 100% bulletproof job.

Like we saw when the housing bubble burst in 2008, a financial crisis can wipe millions of “secure jobs” off the map in a matter of months.

A catastrophic weather event, like hurricanes Katrina and Harvey, can destroy your place of employment, force your employer to close their doors and push you back into the job market in a time of crisis.

And no profession is safe from the steady march of automation. Even jobs once thought too complicated or creative for artificial intelligence are now under threat.

Earlier this year, at London’s Royal College of Physicians, a robot doctor with artificial intelligence was able to out diagnose human doctors in clinical exams — beating the average doctor’s score by 10%.

In Hollywood, a team of actors, writers and programmers are working on an AI that can generate scripts on command and even create an entire film using stock footage and CGI.

Benjamin, as the AI is called, has already written scripts for two films (which premiered at independent film festivals around the world).

The films are weird. And they don’t make a whole of sense (just like a lot of independent movies). But Benjamin is getting better every day. And it won’t be long before he’s pumping out summer blockbusters and wholesome family movies for the Big Six movie studios.

No matter what line of work you’re in, losing your primary income is a hellish prospect.

If you’re not prepared, you can lose your home… rack up debt… and blow through your hard-earned savings.

That’s where your passive income comes in. If you’re out of work or not earning for any reason, your passive income can pick up the slack and make sure you don’t have to abuse credit cards or cut into your retirement just to survive.

Like Warren Buffett says, “Never depend on a single income.” If you do, you risk losing everything in a crisis.

Yesterday we looked at passive incomes that require little to no financial investment. But today we’re going to explore some lucrative passive investments that require some capital upfront.

You’ll have to open your wallet to start the faucet on these passive incomes, but you’re much more likely to see higher returns as a result.

Peer-to-Peer Lending

Ever wonder why banks give you more money for letting your cash just sit in your savings account?

That’s because your money isn’t just sitting in your account. The bank is actually using your hard-earned cash to make more money by lending it out to borrowers and collecting interest on those loans.

It’s an interesting idea — and one the banking industry has been built on — but you can be darn sure that the banks are keeping the lion’s share of profit they make off of your money.

Peer-to-peer (P2P) lending cuts the bank out of the equation by allowing you to lend your money directly to borrowers.

Without the bank leeching off your earnings, you get to keep a much higher percentage of the profits. And for borrowers, it’s much easier to get approved for a small personal loan.

Now, as with any sort of lending, there’s a risk of borrowers not paying back their loan. But with P2P lending websites — like Upstart, Lending Club and Prosper — you can minimize this risk and maximize your returns with partial funding.

Partial funding simply means that a loan can be funded by multiple lenders. You can invest as little as $25 in a loan, and other lenders will fund the rest.

This means you can spread a $1,000 investment over 40 different loans, which functions a lot like diversifying your stocks in terms of minimizing risk.

Let Someone Else Do the Hard Work

The whole stock market thing is a little outside of my wheelhouse.

You have to be keyed in to so many factors to make any sort of sense out of it.

And even folks who think they know what they’re doing can end up losing a lot of money.

That’s why I recommend that if you plan to enter the stock market, you don’t go in alone. Take guidance from folks who know what they’re doing and have proven strategies for making small, profitable trades.

Check out someone like James Altucher, who has devised a strategy to pull $3,000 from the stock market every month with multiple relatively low-risk trades.

All you have to do is buy when he says… sell when he says… and you can collect up to $36,000 a year in extra income.

If you’re curious, you can CLICK HERE to see James demonstrate this strategy with a couple of strangers on the streets of New York.

What about you? Have you any experiences with passive incomes? Was it difficult to get up and running? Did you see much benefit from the extra income? Click here to send me an email and tell me all about it.

All the best,

Owen Sullivan

Owen Sullivan
Editor, Money & Crisis

Chris Campbell

Written By Owen Sullivan

Owen Sullivan isn’t a millionaire or one of the Wall Street elite. He was just one of the many folks who was hit hard when the housing bubble burst… and decided he was never going to let that happen again. Since then, he’s worked with industry experts to develop strategies and techniques to bulletproof his finances — and yours — against the next crisis. His methods don’t require years of financial experience. These are simple strategies that anyone can follow. After all, financial prepping shouldn’t be reserved for a select few.