Coronavirus: COVID-19's effect on passive income

There are some who think that any mention of this virus is overkill; it will be gone soon and there is no reason to talk about it. If you honestly believe that then I am sorry for you. Discussion is an important way to pass on the facts about the transmission vectors, incubation period, and at risk subsets of the population. Are there some people hyping it up to the point of frenzy? Yes, it is also being pushed to far to the other direction at times. In reality we should be somewhere in the middle, with important information released as needed and people taking appropriate precautions to keep their risk of catching the virus low.

So, knowing that we have both extremes playing political games, how do we know what to do next with our money? Obviously, watching the stock market fall over 2,000 points was a wake-up call to a lot of people. As long as we, as humans, are in control of the markets then it will always fluctuate harshly during times of panic. Some swear by the stock market, but I have always felt it was a risk I would rather not take.

If you had gotten into the bulk resale game, either through Amazon, Dropshipping, or even Direct Shipping where you are responsible for product handling, then you watched as the world became afraid of Chinese Products even though the facts are that the virus won't survive the trip in the shipping container. Purchasing these products is safe, and still people won't buy many foreign made goods out of fear. You know the stupidity level is high when Corona beer took a hit. Seriously?

People aren't buying NOW, but it may be a good time to stock up on some things you've been wanting to sell. As stock prices fall you could purchase some shares that may have been previously out of your price range. Bulk goods may go down in price for a time as companies attempt to offload at least some quantity of product. With people self-quarantining themselves there will be more internet traffic during the week, and a factual website about the latest news on the virus would likely see high traffic numbers for the immediate future.

As is usually the case, those who capitalize on situations like this early on are the ones who make the big bucks. I would NEVER advocate price gouging, taking advantage of people's gullibility, or providing false information for personal gain; even without those tactics there are valid ways to capitalize off the panic being created over COVID-19, and those interested in passive income should look long and hard at the options being opened up by our reaction to the virus.