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15 Easy Ways For Everyone To Make Money With Social Media

15 Easy Ways For Everyone To Make Money With Social Media

Even though it’s a relatively new industry, there are already a number of ways to make money with social media. Every major social media outlet has in some way helped users turn their hobby into a business or turn their business into a bigger business. Here are 15 common ways people make money with social media.

1. Tantalize Customers With Your Product On Pinterest

Small businesses can benefit in big ways from getting users to “pin” photos of their items on to their Pinterest boards. Create an account, engage in the community by pinning other people’s photos and upload photos that entice people to buy your product.

2. Run An Online Instagram Shop

If you have items that would be attractive to Instagram users, it’s relatively pain-free to set up a shop by connecting your account to the service inSelly. WikiHow has a great guide walking you through all the steps.

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3. Copywriting

Twitter and Facebook can be great ways to show off your language and grammar skills. Prove yourself to be adept in the language of your choice to get yourself hired to write for a living.

4. Editing

Editors in particular have found success marketing themselves on social media, since services like Twitter and Facebook are great proofs of concept for their skills with the written word

5. Manage Social Media

There are a lot of companies seeking someone to handle their social media presence. Sadly a fair share of those positions are internships, but there are also many paid opportunities out there. Search “social media” on job boards to find results in your area.

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6. Comedy Writing

A lot of new comedians birthed their career on Twitter. 140 character jokes or funny insights can gain you a lot of attention, so if you’re a particularly clever wordsmith consider giving comedy a shot to make money with social media.

7. Creative Writing

Fantasy author Neil Gaiman broke ground with A Calendar of Tales, for which he asked his large Twitter following to submit questions and turned some of their answers into short stories. You can do something similar that involves interacting with your audience, or even serialize a whole novel or short story over many posts.

8. Airbnb

Anyone can become a renter via Airbnb, which gives users a chance to rent places to stay in 190 different countries. Fast Company has a great write-up on how someone made a six-figure income through Airbnb.

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9. Monetize A YouTube Channel

Not only can you make money with social media, you can turn yourself into a phenomenon. Just ask Grace Helbig, who’s developed a large audience through the hilarious videos she posts every week. She makes a significant sum just off ad revenue from her YouTube channel.

10. Become An Amazon Affiliate

When you join Amazon’s Affiliate Program, any sales made from a link you provide to Amazon will net you a small percentage. Cultivate a following and promote specific items on your blog, then include an affiliate link to the item on Amazon so that when a follower purchases something you’ll get paid.

11. Promote Posts

Get your sales pitches in front of more eyeballs with promoted posts, available through almost any social media service. It’ll cost you a little cash, sure, but it could net you huge rewards.

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12. Sell Your Art

Tumblr and Instagram (Tumblr especially) are great places to post original artwork and get a lot of responses and shares. If your art starts going viral, you can turn that interest into income by selling prints and other merchandise through an online store like Etsy or Big Cartel.

13. Sell Rights To Your Photos

If you take good enough photos, people will pay you to use them! Flickr is a popular place to view photos, and this WikiHow explains how to sell the photos you’ve posted there. You can also license them under Creative Commons, which won’t net you any money but will expose your photographs to a wider audience.

14. Demonstrate Your Musical Abilities On SoundCloud

SoundCloud is one of the best places to get your music noticed, and I’m not just talking about the near-impossible goal of becoming a rock star. If you know how to come up with a catchy jingle, you can post it on SoundCloud to get clients flocking to you to create music for their commercials, radio ads, etc.

15. Innovate

These are just the known ways to make money with social media. The field is so new that many more avenues are likely to open up in the future. Consider how you can utilize social media services to grow your career or even create a new one altogether!

Featured photo credit: mkhmarketing via flickr.com

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Matt OKeefe

Matt is a marketer and writer who shares about lifestyle and productivity tips on Lifehack.

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Published on May 7, 2019

How to Invest for Retirement (The Smart and Stress-Free Way)

How to Invest for Retirement (The Smart and Stress-Free Way)

When it comes to stocks, I bet you feel like you have no idea what you’re doing.

Everyone who’s not a financial expert has been there. I’ve been there. But, time is passing and you need to be crystal clear with how you’re investing for your retirement.

Otherwise, it’s back to work until you can afford not to. So, how can you invest for retirement when you’re not a financial expert?

You take the time to learn the fundamentals well. If you do, you can grow your wealth and retire happy. The best part is that you don’t need to be a financial expert to make smart investment decisions.

Here’s how to invest for retirement the smart and stress-free way:

1. Know Clearly Why You Invest

Odds are you already know why should invest for retirement.

But, maybe you know the wrong reasons. It’s time you get clear on why you’d like to retire. Here are some questions to help you get started:

  • Will you spend more time with your family?
  • What does retirement mean to you?
  • Are you looking to launch that business you’ve been holding off for years?

Everyone wants to retire but not for the same reasons. Once you’re clear for why retirement is important for you, you’ll focus on making it happen.

Investing in the stock market allows you to take advantage of compound interest.[1] All this means is that your money earns money on top of its interest. A reason why investment in the stock market is one of the best ways to plan for retirement.

2. Figure out When to Invest

“The best time to plant a tree was 20 years ago. The second best time is now.”– Chinese Proverb

It’s true if you’d had started investing when you were 10 years old, you’d have a lot more money than you do today.

The reality is that most people don’t start investing until it’s too late. So, if you’re currently waiting for the perfect time to start an investment, it would be today. Open your calendar and block out 2 to 3 hours to choose how you’ll invest for retirement.

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A quick way to get a snapshot of where you stand is to use Personal Capital. Input all your personal information and spend some time setting your retirement goals. Once completed, you’ll know where you stand with your retirement.

Having a savings account for retirement isn’t planning for retirement. Why? Your money loses value when you factor in US inflation.[2]

3. Evaluate Your Risk Tolerance to Create the Perfect Portfolio

Investing your money well depends on your emotions.

Why?

Because when the market drops most people panic and withdraw their money. On average, the US stock market yields an annual 6% to 7% ROI (return on your investment.) But, this won’t happen if you’re worried about short-term loses.

Before you invest your next dollar, know your risk tolerance.[3] Your risk tolerance determines the number of risky and safe investments you’d have.

Regardless of your investing style, you need to view investing for retirement as a long term game. Know that some years you’ll lose money but recoup this in the long-term.

Avoid watching market-related new. Also, create a double authentication to log in your investment account. This way you’re less likely to withdraw your money.

4. Open a Reliable Retirement Account

Depending on your circumstance, you may need to open a new brokerage account. This is the account is where you’ll invest your money.

If you’re currently working for a company, odds are that they offer a 410K investing account. If so, here’s where you’ll invest most of your money. The only problem with this is that you’re limited to the stock options that are available.

You do have the option to open a separate IRA (individual retirement account.) Here are some of the best brokers:

  1. Vanguard
  2. TD Ameritrade
  3. Charles Schwab

5. Challenge Yourself to Invest Consistently

Committing to invest for retirement is hard, but continuing to do so is harder.

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Once you’ve started investment for your retirement, you run at risk from stopping. Often you’ll want to contribute less, so you’d have more money in your pocket.

That’s why it’s important that you create a budget that allows you to invest each month. If you’re working for a company, you can set a percentage for the amount you’d like to contribute each month. Most people by default contribute 1% but aim to contribute 10% to 15%.

Be the judge for how much you can afford to contribute after covering important expenses. To stay motivated, use Personal Capital to view your net worth.

A benefit to contributing money to your retirement account is not taxed. For example, if you earn $100 and invest 10%, you’d contribute $10, then get taxed on the remaining $90. As of 2019, the most you’re able to contribute towards your 401K is 19K but this can change.

6. Consider Where to Invest Your Money

The most common way to invest your money is in stocks, but it’s not the only way. Here are other ways to invest:

Robo Advisors

Robo-advisors[4] are fancy algorithms that’ll choose the best investments for you. Sites like Wealthfront make it easy for first-time investors to invest their money. You’d input information about yourself and set your risk tolerance.

Then, set your monthly contribution amount and your robo-advisor would do the rest. Robo-advisors charge a fee to manage your money, but less than regular advisors.

Bonds

Think of bonds as “IOUs” to whomever you buy them from.

Essentially, you’re lending money and charging interest. Like stocks, not all bonds are equal. Some will be riskier than others depending on their rating.

Here are the different types of bond categories:[5]

  1. Treasury bonds
  2. Government bonds
  3. Corporate bonds
  4. Foreign bonds
  5. Mortgage-backed bonds
  6. Municipal bonds

Mutual Funds

Picture a group of people dumping all their money in a jar that’s managed by a professional. This is how mutual funds work. The fund manager manages the money looking to earn capital gains (interest.)

One of the best types of mutual funds is index funds. Since these funds don’t try to beat the market and instead follow it, they need less research. Because of this they often charge the lowest fees and yield the best long-term results.

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Real Estate

Yes, buying a home is an investment when done correctly.

Imagine buying a home and using it as a rental property. After repairing it, you receive a monthly surplus check of $100 to $200.

This may not sound like a lot, but repeat this process enough times and you’d earn a large amount of passive income. That’s why real estate is one of the best investments to not only retire but become wealthy.

But, it requires a lot of money to start and you should expect losing money along the way as you learn the process.

Savings Accounts

Your money can still grow in a savings account. Nowadays most online banks offer a 2% annual return. Although the average inflation is higher your money will be available when you need it.

7. Master Disincline to Dodge Short Success

Investing for retirement is a long-term strategy. That’s why you need to master delayed gratification. All this means is delaying short-term pleasure for something bigger in the future. Research shows that those who have delayed gratification are more successful.[6]

So how can you master delayed gratification?

By building your discipline.

Think back to what retirement means to you. A clear purpose will help you avoid withdrawing your money during a market downturn. It’ll help you contribute more towards retirement when you’d want to waste it instead.

Your journey towards retirement will be long, so reward yourself along the way. Choose a reward that’s relevant and meaningful, so that you reinforce positive behavior. For example, after contributing more towards retirement, treat yourself to dinner.

8. Aggressively Invest on This One Investment

I’ve mentioned several types of investments but haven’t covered the most important one.

It sounds cliche but here’s why you’re your best investment towards retirement. The more you know, the more money you’ll be able to make. The more good habits you adopt, the more secure your retirement will be.

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More importantly, investing in yourself is an investment that no one can take away. There’s no market downturn nor tragic circumstance that’ll wipe your knowledge and experience.

But, how can you invest yourself?

Reading books, blogs, and anything that’ll help you learn new topics daily. Listen to podcasts and audiobooks on your commute to/from work.

Save money to buy courses and hire coaches. I used to believe hiring coaches was a waste of money when I could learn the subject alone.

But, coaches see your blind spots and hold you accountable. Hiring the right coach will help you achieve your goals faster than you would’ve alone.

Retire Happy with Excess Money

The key to a secure financial future doesn’t only belong to financial experts.

It’s possible for you and I. What if you were able to retire earlier than most people and weren’t a financial planner? What if you were able to focus on what you enjoy doing the most while your money was working hard for you?

I know this sounds impossible now, but the truth is you’re capable of taking charge of your retirement. I’m not a financial expert but I’ve learned how to invest my money by reading books and learning from others.

Investing your money is scary. So start small and invest a small amount of your money with a robo-advisor. Feel your money drop and rise for a month or two. Then, invest more and keep this up until you’re aggressively saving for retirement.

One day, you’ll wake up with a net worth you’re proud of – confident about your retirement. You now know a few strategies you can use to invest in your retirement. Will you take action to retire happy?

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Featured photo credit: Matthew Bennett via unsplash.com

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