Advertising
Advertising

5 Surprising Side Jobs to Make Extra Income

5 Surprising Side Jobs to Make Extra Income

Until fairly recently, options for side jobs to bring in extra income were fairly limited. Bartending, waiting tables, working retail jobs, and babysitting were the standard choices, each requiring a set schedule, extra commute time, and the abandonment of your nights and weekends. The good news is that, if you’re already working a full-time job, your options for working a second job have greatly expanded in recent years. There are a growing number of part-time options that offer flexible schedules and the ability to work from home.

Here are five surprising side jobs to help supplement your full-time paycheck with extra income.

Advertising

Search Engine Evaluator

Spend a lot of time browsing the interwebs? In this role, you’ll actually be paid to perform Internet searches, and then evaluate the results presented to you. Your work will be based on assigned topics like culture, media, sports, news, and business, and if you’re fluent in multiple languages, you may evaluate search engine results in any of them. Also known as web search evaluating, these part-time jobs are usually virtual and flexible, meaning you’ll work from home and set your own schedule.

Virtual Tutor

As the name suggests, this part-time job allows you to tutor students over the Internet in a variety of subjects. You’ll typically need a college degree in the field(s) you want to tutor in, and subjects include languages, writing, math, science, reading, history, economics, computer science, and standardized tests like the ACT and SAT. Because students using virtual tutor services are located around the world, you can work odd hours (early mornings, late evenings, sometimes overnight) and set your own schedule for when you’re available.

Advertising

Community Manager

With online and mobile communities available for every interest and hobby, community managers are needed to monitor, moderate, and assist with interactions between community members. In this part-time, work-from-home job, common tasks include processing flagged comments, moderating virtual worlds and forums, and answering questions posted by community members. You must have experience participating in online communities, and communication skills are, of course, hugely important in these roles.

Freelance Photographer

While being a part-time photographer is nothing new, there has been an increase in recent years in the demand for freelance photographers to help with all kinds of assignments. You might work with a real estate company photographing apartment complexes and communities for their website. Or work with a travel website to visit and tour hotels, taking photographs and writing your assessment of each location. These roles are definitely for people with photography experience and an interest in freelance assignments. As the demand for real-time, online photographs grow, so will the need for part-time photographers.

Advertising

User Tester

Similar to a web search evaluator, a user tester works with a client website for usability and quality assurance. Rather than searching the entire Internet, however, you’re assigned to one website, or a portion of a website. Testers are needed for both desktop and mobile website testing. User testers use an online screen recorder to capture video of mouse movements, clicks, keystrokes, and spoken comments so website managers can see where their sites are confusing or broken. This part-time job is paid per website tested, so there’s no time commitment and you can set your own hours.

If you need to find extra sources for income but don’t want to schlep to a second job after you’re done with your first, consider jobs like these. The bonus is that these are professional-level part-time jobs, meaning you might be able to use them on your resume as more than just space fillers. Working from home and flexible scheduling are easier benefits to find today, so you don’t need to limit yourself to traditional part-time jobs.

Advertising

Featured photo credit: Matthew Pearce – iPad Skype via flickr.com

More by this author

Brie Weiler Reynolds

Senior Career Specialist at FlexJobs

This Is How Anyone Can Supercharge Their Retirement This Is How Anyone Can Supercharge Their Retirement 5 Surprising Side Jobs to Make Extra Income 4 Ways You May Be Sabotaging Your Job Search Make a To-do List You’ll Actually Want to Tackle Find Work-Life Balance During the Holidays and Every Day

Trending in Money

1How Much Money Do I Need to Retire? Find Your Answer Here 2The Ultimate Guide to Make Saving Money Fast and Easy 36 Easy Ways to Treat Yourself 4A Random List of Unique Gifts 525 Things to Sell to Make a Lot of Money

Read Next

Advertising
Advertising

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.

Advertising

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.

Advertising

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.

Advertising

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.

Advertising

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

Read Next