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10 Creative And Effective Ways To Make Money From Home, Doing What You Love

10 Creative And Effective Ways To Make Money From Home, Doing What You Love

Long commutes, that annoying coworker you love to hate sitting on the other side of your cubicle, staff meetings that drag on forever debating the merits of various brands of toilet paper—ah, the joys of an office job.  If only there was some way you could make money without having to go into the office, otherwise known as that place that has become the bane of your existence.

Luckily for you, it just so happens that you can make money without being at an office.  Thanks to advances in modern technology, there are all kinds of ways you can make money working from the comfort of your own home. Some great home based career ideas include.

1. Freelance Writer

If you’re passionate about writing and confident in your ability to produce excellent work, you should consider becoming a freelance writer.  Check out websites such as FreelanceSwitch, Odesk, Upwork, and ArticleTeller to see some great opportunities that have come available.  If you’re really ambitious, you could even start a blog and generate an income from the space you sell for advertisements.

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2. Personal Trainer

Are you a fitness buff who loves working out?  If so, you should consider becoming a personal trainer.  Now that we have tools like Skype and FaceTime on the scene, you can easily communicate face to face with clients even if you’re hundreds of miles apart, helping them set fitness goals, prescribing workout routines for them, and providing feedback on their progress.  If you’re not already certified, you’ll want to obtain certification as a trainer first, and then once you’ve done so, you should promote yourself and the services you offer on various channels of social media (Facebook, Twitter, LinkedIn, etc.).

3. Artist

Don’t buy into the stereotype that says a career in the arts means becoming a starving artist.  You can actually generate a pretty decent income selling your works of art from home, thanks to sites like Etsy that serve as an online marketplace for producers and consumers of art.  Cafe’Press is another website on which you can sell your artwork.

4. Product Tester

If you’re really into gadgets and you enjoy scoping out the latest and greatest ones on the scene, you should consider getting paid to check out these gadgets by becoming a product tester.  People who are open to testing and marketing products are actually in high demand at a lot of companies.  Check out websites like SheSpeaks.com, Houseparty.com, and Crowdtap.com for opportunities that could allow you to try out products and make money from home.

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5. Host or Hostess

If you’re really social and you enjoy having people over to your place, you could always consider renting out your spare room to out-of-towners who need a place to stay during their vacations, college students, etc.  Check out airbnb to get started with running your own Bed and Breakfast.

6. Teacher/Tutor

working in the living room

    Love teaching, but love the idea of teaching Beowulf from at home in your pajamas even more?  Look into becoming an online teacher.  Various states have their own systems of virtual public schools, and while you may have to go through some classes and training before you get started, the flexibility you get with being able to teach from home is well worth it in the end.  If tutoring is more your thing, you can also check the website Tutor.com to find opportunities to provide assistance with math, science, music, etc.  Whatever field you excel in, chances are, somebody could use your help in that area.

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    7. Nanny

    It might sound like a silly career, but nannying is no joke: you can rake in serious cash taking care of kids while their parents are at work.  And while some parents will obviously prefer that you come to them, many will be fine with dropping their kids off at your place, allowing you to fulfill your goal of working from home.  It helps if you are certified in first aid and CPR and have some kind of background in working with kids, either from previous babysitting experience, working at a daycare, in a church nursery, etc.  Check out Care.com to find nannying opportunities near you.

    8. Tailor/Seamstress

    If you’ve got the magic touch with a thimble and thread, a work from home career as a tailor or seamstress could be in your future.  In addition to making alterations and repairs to pieces of clothing, you could make tote bags, bedding, drapes, even dresses and custom made clothes; the possibilities are endless!  Basically, if you have a knack for sewing, there’s a need for your skills.  Create a blog or website to get the word out about your services, and consider advertising with flyers and business cards at local fabric stores.

    9. Medical Transcriptionist

    If you’re interested in healthcare, you might be interested pursuing a career in medical transcription.  As a medical transcriptionist, you turn voice recordings of doctor/ patient interactions into a text-based format.  In order to get started, you will probably need to take classes in medical transcription (check to see what your local community college or technical schools offer).  You should also consider joining a professional organization as a way to network and land your first job in the field.

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    10. Virtual Assistant

    Are you super organized?  Do you love helping others?  If so, a job as a virtual assistant could be just right for you.  As a virtual assistant, you help out with paperwork, send emails, draft documents, and take care of needs that a company would generally assign to a secretary.  The beauty of being a VIRTUAL assistant, though, is that you can do secretarial work without ever having to set foot in an office.  Go to VirtualAssistants.com for suggestions on how to get started in this field.
    If you are seriously considering getting a job working from home, the good news is the opportunities abound.  With the above ideas as a guide and a little self-promotion on your part, you could be well on your way to making great money from the comfort of your own home, in your pajamas and fuzzy slippers no less.

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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

    Reference

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