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Trying To Make Some Extra Cash? 11 High-Paying Jobs You Should Consider

Trying To Make Some Extra Cash? 11 High-Paying Jobs You Should Consider

So, you finally landed your dream job but living your dream isn’t paying your electricity bill. Or perhaps you have an excessive shopping habit and your regular salary simply can’t keep up. Whatever your situation, your day job isn’t providing you with the financial satisfaction you were hoping for, and now you want to find some extra work to bring in some extra cash. There’s no shame in having a job on the side.

Fortunately, there are dozens of easy jobs that can generate a surprising amount of income — as long as you commit to them. Here are 11 of those high-paying jobs.

1. Copyeditor

Writing is an invaluable skill and it is slowly but surely dying, even in the information age. Thus, companies will pay big bucks (or about $17 per hour) to those who are equipped with impeccable grammar for writing and editing various types of copy, from social media posts to editorial content.

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2. Accountant

If you are a whiz with bookkeeping, there are a number of companies that desperately need your help. Part-time accountants come into an office and reconcile disparities between money in and money out. For this nail-bitingly necessary work, you can expect to take home roughly $19 per hour.

3. Photographer

Being a photographer is much more than taking pictures — it requires a detailed knowledge of lighting, composition, and editing to create magnificent images of people, places, and things. Professional photographers — meaning those who take pictures as their primary career — charge as much as $100 per hour. As a part-time photographer, you might start out charging around $20 per hour and work your way up. Of course, you will need to invest in some serious equipment first.

4. Translator

Although English is spoken far and wide, there remain a number of professions that require regular interaction with non-English speakers that need translation help. For example, legal assistants with foreign language experience can earn about $21 per hour by helping review legal documents and conversing with clients.

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5. Tutor

Knowledge is power — the power to make money. Tutoring students, be they children in grade school or adults at college, is incredibly profitable, but the amount you charge is dependent on your experience and availability. Some tutors can charge more than $30 per hour, but most take home about $20 per hour.

6. Driver

Now that Uber and similar apps have made the driving profession easier to navigate, almost anyone can make money driving their own cars. In big cities, Uber claims drivers can take home $90,000 a year. However, that’s without the costs of gasoline, maintenance, and insurance. More realistically, you can expect to earn about $20 per hour driving.

7. Social Media Manager

Modern businesses live and die by their social media campaigns, which makes correctly managing social accounts incredibly lucrative. Social media gurus can earn up to $25 per hour by updating companies’ websites, overseeing their social media, and drafting reports on efficacy.

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8. Investment Trader

The stock market is a veritable treasure trove for side hustlers. Though trading on the market is inarguably risky, traders with knowledge and skill can certainly make big bucks. What you take out of the market is wholly dependent on what you put in and how you trade, but you should be cautious while learning the ropes.

9. Software Developer

It likely isn’t necessary to explain how in demand software developers are in a world where online apps sell for billions of dollars. Payment for software developers is usually on a per-project basis, but experienced workers can earn around $30 per hour. Of course, this is a highly skilled trade — you must know how to create new websites and apps, update old ones, build templates, and more.

10. Travel Blogger

If travel is at the top of your bucket list, you can prep for your future trips as a travel blogger. Tourism and real estate companies contract writers to develop content about certain places (including information on population size, things to do, climate, and more) to entice visitors. For this opportunity, you could earn between $50 and $100 per project.

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11. Nanny/Au Pair

You might remember taking home bank when you babysat your neighbor’s toddlers. As an adult, you can still make money watching other people’s kids by becoming a nanny or au pair. Part-time nannies can earn about $20 per hour, while live-in au pairs make weekly salaries that range from $100 to $300 or more.

Featured photo credit: Picjumbo via picjumbo.com

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Published on June 12, 2018

How Much Money Do I Need to Retire? Find Your Answer Here

How Much Money Do I Need to Retire? Find Your Answer Here

It is never too early nor is it ever too late to start planning for retirement. It ultimately depends on your way of life, where are you living, and whether you need to let go of anything. A successful retirement strategy is to have enough pay to cover your expenses with a little cash going into a savings account for sudden financial needs.

With regards to retirement, we all have an alternate vision in mind. In fact, some think about traveling throughout the world, while some think of a peaceful life with their grandchildren. Whether we get ready for it or not, we will one day turn to retirement age and so, we should be prepared for it. I’m going to tell you how in this article.

Benefits of early ventures for retirement

The way this works is you figure out where you need to live, the amount it will cost you to live there (rent/food/transportation), and the various expenses you will need to account for, like travel/insurance/medical bills and taxes. Many people are struggling to put aside money for their future savings and some haven’t started yet. Think you can put off thinking about retirement? The reality is that you need to start thinking about it right now, and putting aside some money from today.

There are a lot of benefits of taking early steps towards retirement. Utilize the power of compounding, low investment for targeted corpus and you can create more corpus investing the same money:

  • If someone saves $100 every month and starts investing for 30 years at 10% return, initially you will see that within 5-10 years, your investments will not multiply. However, after that period, the corpus will increase immensely with the impact of compounding. The investment period expands the extent of profits increments in the corpus.
  • Suppose there are two people, one aged 30, and the other 40. Both need to resign at 60 with the same retirement objectives of $300,000 USD each. Both will put resources into an investment with 10% of the return. Thus, to accomplish their retirement objective, the younger one needs to save $100 USD / month and the older one needs to collect $300 USD / month. Since the older one has started investing ten years later than the younger one, he will pay more than double what the younger one will pay.
  • If someone saves $100 USD every month and starts investing at 30 years old till 60 and gets 10% annual return, his corpus becomes around $170,000. Otherwise, if he starts the same amount spending at 40 years of age with the same 10% return, he will have around $57,000 USD. He can profit by just investing ten years early.

You can’t invest too much money in retirement during the early stage of your career since you may have different objectives. However, you can increase the investment gradually if you start investing just a small amount.

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Average retirement age

For many people who are nearing retirement age or recently resigned, one of their most significant financial regrets is that they did not focus on saving for their golden years. As per the Consumer Reports study, it demonstrates that only 28% of investors with the age of 55 years or older are pleased with the way they have saved for retirement.

As per the report, The Economic Policy Institute breaks down how much Americans have put away.[1] Since you know that when the majority of people retire, you can subtract your age from that more significant number and check down what number of more years you need to work.

But many retirees go back to work. Some of them do part time job while others do seek for a second career. Some even come back to full-time work and then retire again in a couple of years. So deciding their retirement age could be tricky.

Average retirement savings

To get retirement started, saving is pretty easy, though it can seem complicated. These simple five steps will make you go on retirement now. So, you don’t need to stress over having the same regrets as today’s retirees.

1. Invest 15% for your retirement

Your initial step is to save 15% of your income. This will depend on your gross income and does not include any coordinating assets you get through your employer’s retirement plan.

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It’s sufficient to enable you to achieve your retirement investment funds objectives, but not too much to keep you from enjoying your income today.

2. Utilize tax-advantaged retirement plan

Yes, we utilized the T-word; however, don’t daydream! Split your 15% retirement contributing budget between charge conceded retirement plans like your 401(k) or after-tax plans like a Roth IRA.

3. Invest your money around

To put it all in one place is the most significant risk that you can take with your retirement money. With mutual funds, however, you can invest in the biggest and most recognizable brands as well as that new organizations you’ve never known about but has a lot of growth potential.

Opt a growth-stock mutual fund with background marked by solid returns for both your 401(k) and Roth IRA speculations.

4. Stay with it

Since mutual fund investing is less risky than investing in single stocks, it is not risk-free. You can see your savings grow in the long term as long as you can leave your money where it is and keep adding to it.

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5. Work with an investing professional

It is essential to look for an investment professional, as you must have a lot of queries concerning your retirement plan during 30 or more years of investing,

Never make due with an investment professional who recommends or patronizes you to turn over all your investment choices to them. Since this is your retirement, nobody will think or care about it more than you do!

You might analyze or compare your savings against the average retirement savings for your age group to check whether you’re falling behind or getting towards of the curve. On the other hand, it might be conceivable to hang up the work boots and hit the shoreline with fewer savings if you live easily or below your means.

How to achieve your financial goals?

An ideal approach to achieve your financial goals is to stay focused on what you need for your future, ignore everything (and everyone) else that may divert you. There’s a significant business culture out there that requires you to stay in debt, live for the occasion and stress over your future later on.

You need to start planning for your future from now, not when you have more time or money to invest. You can even talk to a financial advisor for any help. Cooperate to set your money goals and make an action plan to reach them. You can retire younger than you thought you could if you create a project and follow up on it.

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Start planning for your retirement

A lot has changed in the last 30 years; our previous generation had an career goal and they would join either a large private company or a government organization immediately after school or college. Then they would spend the next 38 years in the same organization and the form of provident fund and gratuity. They would retire with a decent corpus and they would later spend the remaining time with their pension benefits. It’s a bit different now, but with the above information, you’ll be well prepared.

Whether you can afford to retire now or not, you need not bother with a retirement calculator to get a rough estimate. You should have the capacity to closely approximate your daily spending habits to figure out how much money goes out the door every year.

Featured photo credit: Pexels via pexels.com

Reference

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