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8 Work-From-Home Jobs That Earn You Serious Money

8 Work-From-Home Jobs That Earn You Serious Money

It’s no exaggeration to say that a large portion of the working class would absolutely love to work from home. No traffic, no meaningless water cooler chat, no extraneous distractions to deal with. Sounds like a dream come true.

But is there really money to be made working in your pajamas? You bet. You just have to get in the right industry, and you’ll find you can create a steady cash flow regardless of whether or not you got dressed in the morning. Some of the best paying jobs that allow you to work from home are:

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1. Clinical Regulatory Affairs Director

As a regulatory affairs director, you’ll be tasked with planning, preparing, and submitting products that have been clinically tested and approved to the national and international markets. Working from home, you’ll document the trial process, as well as create the marketing documentation to accompany the product being sent for approval. Snaring a position as a work from home affairs director will also snare you a lofty $150K a year.

2. Supervisory Attorney

Not all lawyers spend their days in court. Many people with law degrees who are also members of the Bar opt to simply act as advisers to those in need of legal assistance. These attorneys may focus their efforts on other aspects of the law rather than criminal cases, such as tax or real estate law. By making themselves available through telecommunications, they can reach a far wider clientele than if they were to practice locally. You’d still need to be a member of the Bar in the state in which you plan to practice, though. Going this route would earn you around $117K per year.

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3. Senior Medical Writer

Like many technical writing gigs, senior medical writers can work remotely as they review medical information and translate it into various medical documents. They also may be tasked with reviewing and editing documentation created by peers and supervisors, proofreading for typographical and factual errors. Attention to detail is an absolute must when dealing with medical writing, and you also must have a medical or science degree to your name to be considered for the job. If you’re qualified, you can end up making $110K a year as a senior medical writer.

4. Environmental Engineer

Environmental engineers aren’t necessarily homebound, but most of their paperwork can be done from anywhere they please. These engineers design and assess pollution reduction and prevention approaches and plans, and analyze the best course of action for municipalities to take. As mentioned, they will often have to work in the field while conducting research and collecting data, but they’ll be able to take the information home with them to study and report on from the comfort of their own living room. Like medical writers, environmental engineers’ salaries fall around the $110K mark.

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5. Director of Quality Improvement

Regardless of the industry, all companies strive to be the best they can be. A quality improvement director works to design and develop best practices related to systems administration and data architecture. If that’s too much jargon for one sentence, basically these employees analyze what a company is doing well, and what it could improve upon, and reports back to the managers and CEO. Quality improvement directors are natural leaders who have knowledge of on-going trends regarding quality, safety, and reliability within the industry. Working remotely on quality improvement could net you $100K a year.

6. Senior Software Engineer

It shouldn’t be a surprise that computer programmers can work from their home computer. Software engineers develop and design software, maintain oversight of programs, manage development teams, and troubleshoot issues colleagues face throughout the process. Collaborating online may actually be more effective for software engineers, as they won’t have to leave their work stations to discuss progress, and can continue to work on their projects seamlessly. A talented software engineer can bring home around $100K for his contributions to a company.

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7. Director of Business Development

As a director of business development, you’d be tasked with managing large sales territories and maintaining steady revenue, while simultaneously researching ways in which to increase your business reach and income. You also would collaborate with directors in other territories and develop programs in order to increase coherency throughout different areas. Directors of business development will often have to travel and make in-person sales pitches, but a majority of their work can be done remotely. Working as a director can earn you around $100K or more, depending on your success.

8. Research Biologist

One advantage of working from home as a biologist is you’ll never be pressured into saving a beached whale. All kidding aside, research biologists usually specialize in a specific area of biology, such as microbiology or wildlife studies. They conduct research and analyze test results, then report back to their company regarding their findings. Like environmental engineers, research biologists will sometimes have to go into the field to conduct research, but can do the rest of the work from anywhere they feel comfortable. Although not as hefty as some of the other salaries on this list, research biologists can earn around $93K a year working mostly from home.

Featured photo credit: -3-2/USC Santa Barbara Library via farm3.staticflickr.com

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Last Updated on June 6, 2019

The Average Retirement Savings and How to Save Wisely

The Average Retirement Savings and How to Save Wisely

Are you on track for retirement?

If not, don’t worry, I’m not sure either. I save each month and hope for the best.

Fortunately, I’m at an age where most people don’t save so I’m ahead of the curve.

But, what if you aren’t in your 20s? What if you’re near retirement and are looking to gauge where you stand?

If so, keep reading. Here’s how to prepare for retirement and save wisely during the process.

What Does the Average American Have Saved for Retirement?

Saving for retirement is tricky.

Tell someone straight out of college to save $10k a year for retirement and it’ll be next to impossible.

Make the same request to someone decades older and they’d be more likely to be able to save this amount. But, a 20-year old college student can be “financially ahead” of someone saving more than them. Why?

Age matters in your financial journey. The younger you are, the more time you have to save and put compound interest to work. As you get older and have more saving power, you’d have less time to put compound interest to work.

Here are the average savings Americans hold by age bracket:

20’s – $16,000

During this stage, most people are paying loans and moving up the corporate ladder. Your best bet during this stage is to focus on eliminating debt and increasing your income. Don’t focus only on getting a high-paying job neither.

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Instead, focus on learning via Podcasts, reading books, and taking specialized courses. Doing this will make you more valuable and give you more career options.

30’s – $45,000

At this stage, you’ve hopefully escaped your entry-level salary and work at a career you enjoy. Your earning power has increased but you now have more obligations. For example, marriage, kids, and a mortgage.

Set a plan to pay off all your debt and focus on eliminating unnecessary expenses. Leverage financial tools like Personal Capital to ensure you’re on track for retirement.

40’s – $63,000

This is the stage where you’re at the prime of your career. Top financial institutions recommend you have at least 2 to 4 times your salary saved up. If you’re falling behind, start maxing out your 401K and Roth IRA accounts.

50’s – $115,000

During your fifties, you’re close to retirement but still, have time to save. You may be helping your kids pay college tuition and other expenses. Since you’re at the peak of your earning power, max out all your retirement accounts.

60’s – $172,000

By this point, you should have about eight times your salary saved up. If not, you’ll depend primarily on social security benefits averaging $1400 per month. Max out all your retirement options as much as possible before retiring.

Ways to Save Money on a Tight Budget

The sad reality is that most Americans aren’t saving enough for retirement.

Even high-earning power isn’t enough to secure one’s financial future. You need to have the discipline to save for retirement while time is in your favor. Don’t wait for you to have a high salary to save, start with having a small budget.

First, get a clear picture of where you stand. Write down a list of “needs” and “wants.” For example, Netflix and Amazon Prime are “wants” and a “cell-phone” is a need.

Use tools like Personal Capital to analyze your spending patterns. Personal Capital allows you to add all your financial data in one place–making it a powerful option to gauge where you stand.

Once you know all your expenses, organize them from highest to lowest expense. When you can’t cut more expenses, call your service providers to negotiate a lower price. If you’re not good at negotiating, use services like Trimm to lower your monthly expenses.

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How to Save Money Each Month

By this point, you know the average amount of money you should have saved for retirement based on your age.

But, breaking this down into monthly goals can be challenging. Here are some rule of thumbs to follow:

Aim to contribute 10%–15% of your salary each paycheck. Review your progress each week.

Why so often? The reality is that life gets in our way and you will have many financial setbacks. Your goal isn’t to be perfect but to get back on track instead.

Reviewing your finances weekly lets you know where you stand with your retirement. This doesn’t have to be a long process either. All it takes is login in Personal Capital to view your net worth and check how much you have saved for retirement.

Turn saving into a game and aim to save more each month. It will get challenging but you’ll get creative and find more ways to save.

Top Money Saving Challenge Tips

To prepare for your financial future and not be another statistic you need to be different.

How?

By adopting new habits that’ll help you become a saving machine. Here are some ways you can save more:

Automatically Contribute Towards Retirement

If you’re working for a company, you can automatically contribute towards your 401k. If you’re not currently contributing more than 10%, make this your goal. Contribute 1% more today and automatically increase this amount a year from now.

Odds are that you’re not going to be negatively affected by contributing 1% more. Many times we spend our money on things we don’t need. Contributing more towards retirement is a great way to secure your financial future.

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Use the Right Tools to Know Where You Stand

Once you’re contributing more towards your retirement accounts, gauge your progress. Make use of finance tracking apps to help you view the big picture of your retirement.

When I’d first signed up for the app Personal Capital, I didn’t know I had a negative net worth. Despite saving thousands of dollars, my debt brought my net worth to the negative. Knowing this motivated me to save more and spend less.

Now, I have a positive net worth. But, it was because I was able to view the big picture using the app. Find out what your net worth is using a finance tracking app and you may surprise yourself.

Bring in Experts to View Your Blind Spots

If you have too little or too much money saved, you should consider hiring financial experts.

Why?

You may need someone to hold you accountable to help you reach your financial goals. Or, you may need help managing your money as effective as possible.

Regardless of the reason, getting help may help improve your financial situation.

Before you hire an expert, find out which areas you need help the most. For example, if you’re constantly overspending, find a debt counselor. If you’re struggling with choosing the best investment options, hire a financial advisor.

Speed up Your Retirement Contribution

After learning how to manage your money well, the next best thing is to earn a higher income.

You’re capped at how much you can save but not much you can earn. Even if your employer isn’t giving you a promotion, you can still take charge of your financial future. How?

By starting a side-business.

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This will be something you’d work on after you’ve finished your day job. Once you start earning income from your side-business, you’ll be financially better off.

The best part is the more work you put into your side-business,[1] the more potential it has to earn more money.

So start a side-business in an area you’re familiar with. For example, if you enjoy writing, do freelance writing for small e-commerce businesses.

Once you’re earning a higher income, you can contribute more towards your retirement. Don’t wait for the right opportunity to secure your financial future, create one.

Reach Financial Freedom with Confidence

What if you were able to retire tomorrow with no problem, all because you’d have enough money saved up and little to no debt left to pay off? How would you feel?

My guess is that you’d feel happy and relieved.

Most Americans are falling behind their retirement goals for many reasons. They’re not prepared, they carry bad money-habits and are thinking short-term.

For you to retire successfully, you need to work backward and adopt better habits. Contribute more towards your 401K and focus on growing your income.

If you do, you’ll save money and pay debt faster.

Don’t beat yourself up if you’re behind your retirement goals. Take the first step today towards a brighter financial future. Isn’t retirement worth the hard work and sacrifice to be at peace?

Featured photo credit: Huy Phan via unsplash.com

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