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Apache is functioning normally

June 29, 2023 by Brett Tams

For many of us, the idea of making $60,000 a year is nothing short of a dream. But what does that really mean? How much is that an hour before taxes? And after taxes? What kind of lifestyle could you afford with this income?

These are all questions we’ll explore in this article as we take a look at the average hourly wage and how it affects your annual income and after-tax income. We’ll also make necessary calculations to figure out how much you can expect to make after taxes each year, along with strategies for budgeting and saving to make the most out of your money. So if you’re curious about how far $60,000 can stretch in today’s economy, keep reading.

$60000 a Year Is How Much an Hour?

Assuming you’re working a standard 40-hour week, you’d be raking in a cool $28.80 per hour.

When working 40 hours per week for 52 weeks a year, you’ll clock in 2,080 hours of work.

Divide that $60,000 salary by the 2,080 hours, and there’s your savvy $28.80 per hour rate.

That’s quite the step up from the federal minimum wage, isn’t it? Of course, your exact hourly rate could vary based on your work hours, but one thing’s for sure, you’ll be making a pretty penny.

But what if you work more or less than the standard work week?

Well, the lowest you could go while still making $60,000 a year is $6.8 per hour—albeit by working every waking (and non-waking) hour of the year, which is, let’s face it, impossible.

On the flip side, working less could bump your hourly wage up to a whopping $57.6. To earn this average wage, you would need to work 20 hours a week, which adds up to a total of 1,040 hours. However, this depends on your work schedule and other factors, such as other obligations you may have.

Earnings Disclaimer

It’s important to note that your earnings will remain constant even if you work fewer hours. Therefore, it’s essential to maximize your productivity during your designated work hours.

How Does 60K a Year Compare?

Let’s get down to the nitty-gritty of your $60,000 salary and see how it measures up. In 2023, the United States national median income is $80,893 – a sweet 3.4% jump from 2022. So, with your $60,000 paycheck, you’re actually earning 25% less than the average Joe. Fear not, though! Remember that median household income represents families, not solo earners.

If your household has more than one income earner and rakes in a collective $80,000, congrats! Your clan is pretty close to the median income party in the good ol’ US of A.

Is $28.80 a Good Hourly Rate?

Now, let’s shift gears and approach this with a more analytical lens. Earning $28.80 per hour results in an after-tax income of approximately $46,000 annually, placing an individual or a small family above the 2023 federal poverty threshold.

However, it is crucial to acknowledge that one’s location and the cost of living therein play a significant role in defining a viable salary. For urban dwellers, particularly in places like New York City, the cost of living tends to be higher than the national average.

Consequently, researching the regional costs and evaluating whether a $60,000 salary truly qualifies as a “livable wage” becomes a necessary and prudent step to take.

Is $60K a Year Worth Your Time?

While it might not make you a millionaire in NYC, this annual income can comfortably provide for a solid life in cities like Sioux Falls. All it takes is a knack for smart budgeting and cost-effective living arrangements to thrive on a 60K salary truly.

For singles enjoying solo living, $60,000 can be quite a generous budget.

However, if you have a family to provide for, you might place a higher importance on your time since you have to make sure your family’s needs are met. In the end, it is your decision whether earning $60,000 annually is worth the time you put in.

The key to thriving on this income is a spoonful of discipline in handling finances, carefully saving for retirement, and investing in experiences that enrich your life.

Remember: time is a finite resource – every hour spent on the job is an hour you won’t get back.

So find joy in what you do and make each moment count. Whether you’re a wide-eyed student trading monetary gains for the experience or a devoted family person, always remember that the optimal balance involves valuing both time and money.

How to Make More While Working Less?

Who wouldn’t want to make more money while cutting down on working hours? Guess what – it’s entirely achievable! To unlock this seemingly elusive treasure, you need to utilize your time efficiently and tap into your skills to their maximum potential. Ready to work smarter, not harder? Let’s dive in.

Obtain a High-Paying Position

As there is always room for growth, consider seeking a position offering an increased annual salary. The key to locating these jobs lies in networking within your industry and researching online job postings. An alternative approach is to employ the services of a career coach in discovering opportunities that provide better rewards for your efforts.

All of this can be improved if you focus on achieving high income skills . This includes mastering a particular trade, obtaining a higher degree of education, or investing in yourself so that your salary is more than what you currently make.

Boost Your Earnings with Passive Income

One clever way to maximize your earnings is by reinvesting a part of your salary (from that median wage of $60,000 a year) into opportunities that create passive income. This way, you can watch your bank account grow as you snooze or enjoy that long-awaited vacation without the nagging worry of federal tax.

Excited yet? Take a look at these passive income generators:

Rental properties for a steady income stream
Peer-to-peer lending, becoming the bank and collecting interest
Dividend stocks, reaping the rewards of business growth

Climb Corporate Ladder

Efficient and diligent work within your current job may open the doors for a promotion, increasing your annual earnings beyond median pay and widening your professional responsibilities.

Before taking any major steps, consult with your supervisor to gain insight into the available growth options within the company that may ultimately enhance your yearly salary.

Make Bank with Freelancing

Want more control over your schedule and your finances? Try freelancing! This side hustle lets you make some extra moolah while flexing your skills and giving you the freedom to manage your own hours. Trust us; your work-life balance will thank you.

Intrigued? Check out these freelancing side hustle gigs:

Editing, polishing ideas to perfection
Web design, making the virtual world your oyster
Graphic design, letting your creativity rake in the bucks
Bookkeeping, because everyone needs a numbers wizard
Writing, because the content is king

Remember, nearly anything you do at your 9-to-5 can also be turned into a lucrative freelance service. So go ahead, give it a shot, and earn more on your own terms.

How Does a $60,000 Annual Salary Break Down?

Biweekly Pay Breakdown

Crunching the numbers for a $ 60,000-a-year salary reveals some exciting insights about your earnings every two weeks. Picture yourself working a full-time job, clocking in 40 hours each week with no overtime. Divide that annual salary of $60,000 by the 26 bi-weekly pay periods, and you’re looking at a cool $2,307.7 in your paycheck.

But hold your horses.

Remember the saying, “Nothing’s certain but death and taxes?”

Well, your take-home pay usually ends up lesser than your biweekly paycheck, all thanks to taxes and other deductions such as income taxes, pre-tax deductions (retirement accounts, health savings bank accounts, etc.), FICA (Social Security and Medicare) taxes, state and local taxes, other miscellaneous deductions required by your employer, and health insurance premiums.

Monthly Pay

Now, what if you’re paid monthly? The anticipation of receiving your paycheck might be a tad longer, but imagine the thrill of seeing higher numbers! On a $60,000 annual salary, you’ll bag a monthly paycheck of a whopping $5,000 before taxes and deductions.

You may get paid time off and federal government holidays, depending on your company. For the average person, this means you’re effectively making more money per hour than your hourly rate implies.

How Much is $28.80 an Hour Annually?

Picture this: you make $28.80 an hour, which translates to roughly $59,904 annually. Not only are you ahead of the curve, but you’ll also be earning more than the national average of $58,563 per year, or $28.16 hourly, according to ZipRecruiter.

However, this number can fluctuate based on the total number of hours you work weekly. For instance, working 50 hours a week would increase your annual earnings to $74,880, while a 60-hour workweek would result in an impressive $89,856.

On the other hand, if you work less than 40 hours a week, your salary tapers off accordingly. A 30-hour workweek corresponds to $44,928 a year, while 20 hours of weekly commitment amounts to $29,952 per annum. Thus, it’s crucial to understand the expected work hours when considering a job that pays $28.8 an hour.

At the end of the day, it’s up to you to make the most out of your earnings and work smarter to increase your salary. Whether it’s freelancing, negotiating a higher wage, or taking on more responsibilities, there are numerous ways to increase your annual salary and take charge.

How Does Vacation Impact My Annual Salary?

Vacation offers necessary respite and rejuvenation, but it may come at the cost of impacting one’s annual salary. It is crucial to examine the effects of taking time off on one’s finances.

Paid vacation days are part of most employment contracts and would not result in a salary reduction. Conversely, for employees who must take unpaid vacation days, their annual salary may be affected.

For instance, an individual earning $60,000 annually would receive $2,307.60 bi-weekly. Should they opt for two weeks of unpaid vacation, it would reduce their annual earnings by the same amount. Furthermore, being absent from work may result in missed opportunities for raises or promotions.

Therefore, the importance of considering how vacation impacts one’s annual salary cannot be understated. A balance between taking time off and focusing on career growth should be achieved to ensure financial stability.

Notice

Please note that the salary examples provided are only meant to give you a general idea. Your actual salary will depend on your additional skills, experience, qualifications, and the number of hours you plan to work.

How Much Is $60 000 a Year After Taxes?

Tax implications on a $60,000 salary should be considered thoughtfully, and the actual take-home pay depends on various factors, including your residence. Here, we provide general calculations for residents of tax-free states (for, e.g., Florida) and states with taxes (for, e.g., New York).

For an individual living in Florida, the tax breakdown is as follows:

Annual pre-tax income:	$60,000
Deductions:	$5,968 federal income tax $3,300 FICA taxes
After-tax take-home income:	$50,732

On the other hand, a New York resident’s tax obligations would be:

Annual pre-tax income:	$60,000
Deductions:	$5,968 federal income tax, $3,300 FICA taxes $2,864 New York state tax
After-tax take-home income:	$47,868

Notice the significant difference in after-tax income due to state taxes. It’s essential to bear this in mind when calculating the final earnings from your annual salary.

State By State $60,000 a Year Salary After Taxes in 2023

Just like the federal government, each state and territory has its own tax brackets that are calculated in a similar way.

However, since each state or territory can establish its own marginal tax rates and laws regarding taxable items, the amount of taxes you pay on a $60,000 salary may differ depending on where you live. The following table shows your after-tax salary for the 2023 tax year on a $60,000 salary:

State	Average Income
Alabama	$46,607.00
Alaska	$49,442.00
Arizona	$48,061.71
Arkansas	$46,263.80
California	$47,483.87
Colorado	$47,301.23
Connecticut	$46,592.00
Delaware	$46,678.88
District of Columbia	$46,783.75
Florida	$50,732.00
Georgia	$46,429.00
Hawaii	$45,419.90
Idaho	$46,841.29
Illinois	$46,472.00
Indiana	$47,504.00
Iowa	$46,378.56
Kansas	$46,679.00
Kentucky	$46,580.50
Louisiana	$47,473.25
Maine	$46,484.63
Maryland	$46,756.13
Massachusetts	$46,442.00
Michigan	$46,892.00
Minnesota	$46,646.36
Mississippi	$46,857.00
Missouri	$47,090.06
Montana	$46,289.03
Nebraska	$46,792.90
Nevada	$49,442.00
New Hampshire	$49,442.00
New Jersey	$47,619.50
New Mexico	$47,416.05
New York	$47,868.09
North Carolina	$47,084.23
North Dakota	$48,863.12
Ohio	$48,401.64
Oklahoma	$47,082.13
Oregon	$44,660.75
Pennsylvania	$47,600.00
Rhode Island	$47,540.75
South Carolina	$46,693.40
South Dakota	$49,442.00
Tennessee	$49,442.00
Texas	$49,442.00
Utah	$46,510.46
Vermont	$47,231.98
Virginia	$46,508.25
Washington	$49,442.00
West Virginia	$46,667.00

Wisconsin	$47,194.39
Wyoming	$49,442.00

Source: Worlds Salaries

What Types of Jobs Pay $60,000 Per Year?

There are a variety of jobs that pay $60,000 per Year. Here are some examples:

Cargo pilot
Makeup artist
Real estate agent
Dental hygienist
Instrument technician
Insurance agent
Power plant operator
HVAC supervisor
Yoga Instructor
Nuclear medicine technologist
Railroad conductor
Web developer
Sales representative
Claims adjuster
Electrical foreman
Truck driver
Boilermaker
Occupational therapy assistant
MRI technician
Solar installer
Aircraft Mechanic
Physical therapist assistant
Radiation therapist
Nuclear technician
Owner-operator driver

There are numerous job opportunities available that offer an annual salary of $60,000, as shown in the provided list. You have several options to choose from if you desire a salary of this amount. However, note that the list is not exhaustive but gives a fair indication of the job positions that provide this salary.

How To Budget $60,000 a Year?

Cut Unnecessary Monthly Expenses

Regardless of an individual’s yearly income, living within one’s means should be a priority. Analyzing and adjusting budgets is an effective way to achieve this goal. Identifying and eliminating non-essential expenses can help allocate funds toward debt reduction or savings.

Potential areas for adjustments include:

Gym memberships
Entertainment expenses
Subscription services (magazines, music, etc.)
Frequency of dining out
Cable TV subscriptions
Clothing purchases
Travel expenditures

There could be more that can be reduced or eliminated to ensure proper budgeting of $60,000 a year.

Save for Retirement Early

The earliest you start saving for retirement, the better. Consider starting an IRA or contributing to a 401(k), especially while your income is still relatively high and you can benefit from the employer match. If your employer offers a 401(k) plan, setting aside just 10% of your annual salary (or $6,000 if you make $60,000 a year) can go a long way toward reaching retirement goals.

Avoid High Car Payments

Owning a set of wheels doesn’t have to equate to draining your wallet. Did you know the average monthly loan payment for a new car in the U.S. is almost $600, which represents more than 10% of a $60,000 annual income?

Keep in mind this figure doesn’t even include insurance, fuel, or maintenance costs. Try out these savvy strategies to stay car payment-free:

Opt for a pre-owned vehicle
Select a smaller, more economical car
Purchase a used car with cash

Avoid Credit Card Debt

Using credit cards to fund your lifestyle is a common mistake that can easily lead to debt. A way to avoid credit card debt is by limiting your credit card usage to expenses that you can pay off fully every month. If you can’t afford to pay your credit card bill each month fully, it’s crucial to reassess your spending habits.

Sample Budget For Individuals Earning $60,000 Per Year

If you want to understand better living on a $60,000 salary, consider comparing it to your monthly expenses. As an example, here’s a budget for someone earning $60k per year, which may be helpful.

Category	Monthly Amount
House Rent	$2,200
Utilities (electricity, water, etc.)	$200
Internet/Cable	$100
Transportation	$300
Insurance (car, health, etc.)	$400
Groceries	$400
Dining Out	$200
Entertainment	$100
Clothing	$200
Personal Care	$200
Emergency Fund	$200
Retirement Savings	$500
Total	$5,000

Note: This budget prioritizes basic expenses and avoids debt.

Final Thoughts on a 60K a Year Salary

Yearly salaries can be quite the conversation starter. They’re different everywhere you go, and they’re unique to each individual and profession. A 60K salary might be considered modest in certain corners of the world, while in other places, it’s a pretty sweet deal.

Just imagine living in the bustling metropolis of New York City – you’d need almost twice that amount to make ends meet! But set foot in rural Mississippi, and you’ll find that life on a 60K income can be quite lavish. To live your best life on a $60,000 salary, you only need a bit of financial savvy:

Live beneath your means.
Keep an eye on your expenditures.
Always invest in yourself and your future.

So, what do you think – could you make it on 60K a year? Share your thoughts in the comments below.

Source: goodfinancialcents.com

Apache is functioning normally

June 29, 2023 by Brett Tams

People inherit less than you might expect. In fact, most people think they’ll inherit far more than they really will.

If you do inherit money, it most likely won’t be subject to federal estate taxes. In 2023, those apply only to estates worth more than $12.92 million. But very few households have that level of wealth and most people inherit nothing at all. Here’s what the inheritance landscape looks like, according to the Federal Reserve’s most recent Survey of Consumer Finances from 2016 to 2019. If you need help with your estate plan or have received an inheritance, consider working with a financial advisor.

Why the Average Inheritance is Misleading

On average, American households inherit $46,200, according to the Federal Reserve data. But this figure is inflated by top-tier wealth and belies the fact that many households inherit no money at all.

Of those that do receive a bequest, most receive a small fraction of the average. The top 1% and 10% of households by wealth receive so much that their estates pull the average up. This creates the impression that many, if not most, households receive a comfortable nest egg. Very few actually do.

While less than a third of all households inherit any money, between 70% and 80% of households receive no inheritance at all.

Average Inheritance By Wealth Level

A consistent reality with inheritance is that almost all households who receive an inheritance expect more than they get. This may have to do with the prominence of estate taxes in the national debate, which creates the impression that inheritance and estates are a matter for ordinary Americans. Here’s a look at how much households with varying levels of wealth inherit.

Top 1%

Average inheritance: $719,000
Expected inheritance: $941,100

Measured by wealth, the top 1% of households receive overwhelmingly more than any other group measured. This is what causes such dramatically skewed data when it comes to measuring averages. This group receives more than four times as much as the next wealthiest cohort.

Next 9%

Average inheritance: $174,200
Expected inheritance: $266,600

The average inheritance for the remainder of the top 10% of households is significantly less than those at the very top but still considerable: $174,200. Then again, these households end up inheriting 35% less money than they expect to receive.

Next 40%

Average inheritance: $45,900
Expected inheritance: $60,100

On average, the next 40% of households receive an inheritance that’s closest to the national average. These households are also the most realistic in their expectations. All other cohorts expect vastly larger inheritances than they will receive. This swath of the population overestimates its inheritances by a relatively modest amount.

Bottom 50%

Average inheritance: $9,700
Expected inheritance: $29,400

A national average of $46,200 does nothing to communicate the fact that about half of all households who do receive an inheritance will get less than $10,000. In fact, this cohort expects to receive nearly three times what they will actually get.

The bottom half of households is the cohort that’s also least likely to receive any inheritance at all. With lower rates of college education and lower earnings, these households should not expect to share wealth among generations.

Do You Have to Pay Taxes on Inheritance?

Chances are that you won’t have to pay any taxes on money or property you inherit.
In 2023, the federal estate tax only applies to estates that transfer more than $12.92 million to beneficiaries. Keep in mind that it’s the responsibility of the decedent estate’s to pay this tax, not the person or entity that receives an inheritance.

The tax is only applied to property that exceeds the $12.92 million threshold. So if an estate is worth $13 million, only $800,000 would be subject to the federal estate tax in 2023.

Some states also charge their own estate taxes on top of the federal levy. However, a few states also tax those who receive inheritances. These levies are known as inheritance taxes and the following states have them:

Kentucky
Maryland
Nebraska
New Jersey
Pennsylvania
Iowa*

* Iowa is phasing out its inheritance tax by 2025

Bottom Line

While the average inheritance is $46,200, only a small percentage of households end up actually inheriting money. For households that do receive inheritances, the size of those windfalls can vary greatly for those in the top 1% of households compared to those in the bottom half.

Estate Planning Tips

Many people want to make sure they leave something behind for the next generation. If that’s you, make sure to avoid these five common estate planning mistakes.
A financial advisor with estate planning expertise can help guide you through the sometimes complicated process of building an estate plan. Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.

Photo credit: ©iStock.com/Georgijevic, ©iStock.com/stocknshares, ©iStock.com/eyetoeyePIX

Eric Reed
Eric Reed is a freelance journalist who specializes in economics, policy and global issues, with substantial coverage of finance and personal finance. He has contributed to outlets including The Street, CNBC, Glassdoor and Consumer Reports. Eric’s work focuses on the human impact of abstract issues, emphasizing analytical journalism that helps readers more fully understand their world and their money. He has reported from more than a dozen countries, with datelines that include Sao Paolo, Brazil; Phnom Penh, Cambodia; and Athens, Greece. A former attorney, before becoming a journalist Eric worked in securities litigation and white collar criminal defense with a pro bono specialty in human trafficking issues. He graduated from the University of Michigan Law School and can be found any given Saturday in the fall cheering on his Wolverines.

Source: smartasset.com

Apache is functioning normally

June 29, 2023 by Brett Tams

Simple interest is the money earned after investing or depositing a principal amount, and compound interest refers to the interest accrued on that principal amount and the interest already earned. While interest is typically earned or accrued in a savings account, it can play a role in an investing portfolio, as certain types of investments (CDs, bonds) may involve interest payments, adding to overall investing returns. Note, though, that interest is different from investment returns.

Further, Albert Einstein is reputed to have said that compound interest is the eighth wonder of the world. It’s easy to see why. Continuous growth from an ever-growing base is the fundamental reason investing is so compelling a practice. Compounding has the potential to grow the value of an asset more quickly than simple interest. It can rapidly increase the amount of money you owe on some loans, since your interest grows on top of both your unpaid principal as well as previous interest charges.

What Is Simple Interest?

In basic terms, simple interest is the amount of money you are able to earn after you have initially invested a certain amount of money, referred to as the principal. Simple interest works by adding a percentage of the principal — the interest — to the principal, which increases the amount of your initial investment over time.

When you put money into an average savings account, chances are you are accruing a small amount of simple interest.

APY is the annual rate of return that accounts for compounding interest. APY assumes that the funds will be in the investment cycle for a year, hence the name “annual yield.” If your interest rate is low, you might be missing out on cash that could otherwise be in your pocket. And it may be worthwhile to look into other types of accounts that could earn you more interest.

Simple Interest Formula

Calculating interest is important for figuring out how much a loan will cost. Interest determines how much you have to pay back beyond the amount of money you borrowed.

The simple interest formula is I = Prt, where I = interest to be paid, r is the interest rate, and t is the time in years.

So if you’re taking out a $200 loan at a 10% rate over one year, then the interest due would be 200 x .1 x 1 = $20.

But let’s say you want to know the whole amount due, as that’s what you’re concerned about when taking out a loan. Then you would use a different version of the formula:

P + I = P(1 + rt)

Here, P + I is the principal of the loan and the interest, which is the total amount needed to pay back. So to figure that out you would calculate 200 x (1 + .1 x 1), which is 200 x (1 + .1), or 200 x 1.1, which equals $220.

Example of Simple Interest

For example, let’s say you were to put $1,000 into a savings account that earned an interest rate of 1%. At the end of a year, without adding or taking out any additional money, your savings would grow to $1,010.00.

In other words, multiplying the principal by the interest rate gives you a simple interest payment of $10. If you had a longer time frame, say five years, then you’d have $1,050.00.

Though these interest yields are nothing to scoff at, simple interest rates are often not the best way to grow wealth. Since simple interest is paid out as it is earned and isn’t integrated into your account’s interest-earning balance, it’s difficult to make headway. So each year you will continue to be paid interest, but only on your principal — not on the new amount after interest has been added.

What Is Compound Interest?

Most real-life examples of growth over time, especially in investing and saving, are more complex. In those cases, interest may be applied to the principal multiple times in a given year, and you might have the loan or investment for a number of years.

In this case, interest compounds, meaning that the amount of interest you gain is based on the principal plus all the interest that has accrued. This makes the math more complicated, but in that case the formula would be:

A = P x (1 + r/n)^(nt)

Where A is the final amount, P is the principal or starting amount, r is the interest rate, t is the number of time periods, and n is how many times compounding occurs in that time period.

Example of Compound Interest

So let’s take our original $200 loan at 10% interest but have it compound quarterly, or four times a year.

So we have:

200 x (1 + .1 / 4)^(4×1)
200 x (1 + .025)^4
200 x (1.025)^4
200 x 1.10381289062

The final amount is $220.76, which is modestly above the $220 we got using simple interest. But surely if we compounded more frequently we would get much more, right?

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More Examples of Compound Interest

Let’s look at two other examples: compounding 12 times a year and 265 times a year.

For monthly interest we would start at:

200 x (1 + .1/12)^(12×1)
200 x (1 + 0.0083)^12
200 x 1.00833^12
200 x 1.10471306744
220.94

If we were to compound monthly, or 12 times in the one year, the final amount would be $220.94, which is greater than the $220 that came from simple interest and the $220.76 that came from the compound interest every quarter. And both figures are pretty close to $221.03.

Simple interest: $220
Quarterly interest: $220.76
Monthly interest: $220.94
Continuously compounding interest: $221.03.

Notice how we get the biggest proportional jump from one of these interest compoundings to another when we go from simple interest to quarterly interest, compared to less than 20 cents when we triple the rate of interest to monthly.

But we only get 18 cents more by compounding monthly instead of quarterly, and then only 9 cents more by going from monthly to as many compoundings as theoretically possible.

What Is Continuous Compounding?

Continuous compounding calculates interest assuming compounding over an infinite number of periods — which is not possible, but the continuous compounding formula can tell you how much an amount can grow over time at a fixed rate of growth.

Continuous Compounding Formula

Here is the continuous compounding formula:

A = P x e^rt

A is the final amount of money that combines the initial amount and the interest
P = principal, or the initial amount of money
e = the mathematical constant e, equal for the purposes of the formula to 2.71828
r = the rate of interest (if it’s 10%, r = .1; if it’s 25%, r = .25, and so on)
t = the number of years the compounding happens for, so either the term or length of the loan or the amount of time money is saved, with interest.

Example of Continuous Compounding

Let’s work with $200, gaining 10% interest over one year, and figure out how much money you would have at the end of that period.

Using the continuously compounding formula we get:

A = 200 x 2.71828^(.1 x 1)
A = 200 x 2.71828^(.1)
A = 200 x 1.10517084374
A = $221.03

In this hypothetical case, the interest accrued is $21.03, which is slightly more than 10% of $200, and shows how, over relatively short periods of time, continuously compounded interest does not lead to much greater gains than frequent, or even simple, interest.

To get the real gains, investments or savings must be held for substantially longer, like years. The rate matters as well. Higher rates substantially affect the amount of interest accrued as well as how frequently it’s compounded.

While this math is useful to do a few times to understand how continuous compounding works, it’s not always necessary. There are a variety of calculators online.

The Limits of Compound Interest

The reason simply jacking up the number of periods can’t result in substantially greater gains comes from the formula itself. Let’s go back to A = P x (1 + r/n)^(nt)

The frequency of compounding shows up twice. It is both the figure that the interest rate is divided by and the figure, combined with the time, that the factor that we multiply the starting amount is raised to.

So while making the exponent of a given number larger will make the resulting figure larger, at the same time the frequency of compounding will also make the number being raised to that greater power smaller.

What the continuous compounding formula shows you is the ultimate limit of compounding at a given rate of growth or interest rate. And compounding more and more frequently gets you fewer and fewer gains above simple interest. Ultimately a variety of factors besides frequency of compounding make a big difference in how much savings can grow.

The rate of growth or interest makes a big difference. Using our original compounding example, 15% interest compounded continuously would get you to $232.37, which is 16.19% greater than $200, compared to the just over 10% greater than $200 that continuous compounding at 10% gets you. Even if you had merely simple interest, 15% growth of $200 gets you to $230 in a year.

Interest and Investments

As noted previously, interest can play a role in an investment portfolio, but it’s important to note the distinction between investing returns and interest – they’re not the same. However, if an investor’s portfolio contains holdings in investment vehicles or assets such as certificates of deposit (CDs) or certain bonds, there may be interest payments in the mix, which can and likely will have an impact on overall investing returns.

It can be important to understand the distinction between returns and interest, but also know that there may be a relationship between the two within an investor’s portfolio.

The Takeaway

Simple interest is the money earned on a principal amount, and compound interest is interest earned on interest and the principal. Understanding the ways in which interest rates can work both for and against you is an important step in helping to secure your future financial stability. Interest is typically earned in a bank account, but it can also play a role in an investment portfolio, to some degree.

Interest is typically earned in a bank account, but it can also play a role in an investment portfolio, to some degree.

If you’re interested in investing and making your money work harder for you, then identifying interest types and finding ways to earn as much interest as possible could be the difference in thousands of dollars over the course of your life. The bottom line, though, is that the longer you invest, the more time you have to weather the ups and downs of the stock market, and the more time your earnings have to compound.

Ready to invest in your goals? It’s easy to get started when you open an Active Invest account with SoFi Invest. You can invest in stocks, exchange-traded funds (ETFs), and more. SoFi doesn’t charge commissions, but other fees apply (full fee disclosure here).

For a limited time, opening and funding an account gives you the opportunity to win up to $1,000 in the stock of your choice.

SoFi Invest®
The information provided is not meant to provide investment or financial advice. Also, past performance is no guarantee of future results.
Investment decisions should be based on an individual’s specific financial needs, goals, and risk profile. SoFi can’t guarantee future financial performance. Advisory services offered through SoFi Wealth, LLC. SoFi Securities, LLC, member FINRA / SIPC . SoFi Invest refers to the three investment and trading platforms operated by Social Finance, Inc. and its affiliates (described below). Individual customer accounts may be subject to the terms applicable to one or more of the platforms below.
1) Automated Investing—The Automated Investing platform is owned by SoFi Wealth LLC, an SEC registered investment advisor (“Sofi Wealth“). Brokerage services are provided to SoFi Wealth LLC by SoFi Securities LLC, an affiliated SEC registered broker dealer and member FINRA/SIPC, (“Sofi Securities).

2) Active Investing—The Active Investing platform is owned by SoFi Securities LLC. Clearing and custody of all securities are provided by APEX Clearing Corporation.

3) Cryptocurrency is offered by SoFi Digital Assets, LLC, a FinCEN registered Money Service Business.

For additional disclosures related to the SoFi Invest platforms described above, including state licensure of Sofi Digital Assets, LLC, please visit www.sofi.com/legal.
Neither the Investment Advisor Representatives of SoFi Wealth, nor the Registered Representatives of SoFi Securities are compensated for the sale of any product or service sold through any SoFi Invest platform. Information related to lending products contained herein should not be construed as an offer or prequalification for any loan product offered by SoFi Bank, N.A.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

Disclaimer: The projections or other information regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of future results.
Claw Promotion: Customer must fund their Active Invest account with at least $10 within 30 days of opening the account. Probability of customer receiving $1,000 is 0.028%. See full terms and conditions.

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Source: sofi.com

Apache is functioning normally

June 29, 2023 by Brett Tams

Your employer technically will always know when you borrow money from your 401(k). One of the tricky parts about managing a 401(k) loan is that, even though this money belongs to you, your employer can set terms and conditions around taking the loan. The employer may even disallow loans completely. Here’s how 401(k) loans work and what you should keep in mind if you’re thinking about taking one. A financial advisor can help guide you through the process of taking a 401(k) loan or recommend alternatives.

What Is a 401(k) Loan?

A 401(k) is a tax-advantaged retirement account that your employer provides. Money is deducted from your paycheck and saved in the account on a pretax basis. This lets you invest a full dollar for every dollar you earn, unlike the rest of your income on which you pay taxes and only keep a portion of those earnings.

This tax-advantaged status means that you ordinarily cannot sell assets and withdraw money from your 401(k) until you near retirement age or meet the qualifying criteria for a hardship withdrawal. If you do, the IRS will require you to pay the taxes you would have paid on the income you invested along with a 10% early withdrawal penalty.

If your 401(k) provider allows it, you can borrow money from the account with a 401(k) loan. Unlike a hardship withdrawal, you must repay this money back into the portfolio. If you make regular payments and repay the money on time, often within five years, you do not have to pay any taxes or penalties on the loan. But if you fail to repay the loan on time, the IRS will consider it an early distribution and you’ll owe taxes and penalties on the money you borrowed.

A 401(k) loan can be a good way to solve pressing financial problems, such as unexpected job loss or a sudden emergency. While it’s sometimes referred to as an interest-free loan from yourself, this is not accurate. When you take money from your 401(k) you lose out on any growth that this money would have had during the loan period. This is a real loss, one that grows the longer you take to put the money back in.

Your Employer and a 401(k) Loan

The rules governing 401(k) loans aren’t universal – they can vary from plan to plan, employer to employer. Unlike hardship withdrawals, which are generally defined and governed by the IRS, the terms of 401(k) loans are set by your employer when the program is established.

This means that your employer can decide:

If their 401(k) program will allow loans at all;
If their 401(k) program will allow loans freely, or only under certain conditions;
If there are conditions, what those conditions are;
The maximum amount of a loan (up to 50% of the account’s value);
Some repayment terms

As part of running and managing the 401(k) program, your employer will have an officer or agent who monitors all contributions, withdrawals and other aspects of the plan. This person is known as the “record keeper.” He or she may be an employee of the company or work for an external firm that the company hires to run the 401(k) program on its behalf.

On an institutional level, your employer has access to these records. This means that every withdrawal from an employee 401(k), including loans and hardship withdrawals, can be known by certain company employees.

However, it’s important to note that this does not mean your immediate supervisor or any specific colleagues will have access to this information. The details of a 401(k) plan are generally considered confidential financial information, so it’s likely that your company will have rules around who can see those records. The smaller your firm, the more likely it is that a close colleague will have access to 401(k) records. At a larger company, though, it’s likely that only finance or human resources personnel, along with upper management, will have the right to see those records.

In either case, the answer is the same though. Yes, your employer as an institution will know if you take out a loan from your 401(k) portfolio. However, that information is not necessarily available to any specific colleague.

Bottom Line

Your employer sets the rules for taking loans out of its 401(k) program, which means that as an institution certain employees will have the ability to know every withdrawal and loan that someone makes. However, that does not mean that any individual manager or coworker will have access to this information.

Retirement Savings Tips

Keep the IRS contribution limits in mind each year and max out your retirement accounts when you can. If you have a 401(k), 403(b) or 457 plan, you can contribute up to $22,500 to your account in 2023, plus another $7,500 if you’re 50 or older. You can save another $6,500 in an IRA ($7,500 if you’re 50 or older).
A financial advisor can help you build a comprehensive retirement plan. Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.

Photo credit: ©iStock.com/monkeybusinessimages, ©iStock.com/AndreyPopov, ©iStock.com/Erdark

Eric Reed
Eric Reed is a freelance journalist who specializes in economics, policy and global issues, with substantial coverage of finance and personal finance. He has contributed to outlets including The Street, CNBC, Glassdoor and Consumer Reports. Eric’s work focuses on the human impact of abstract issues, emphasizing analytical journalism that helps readers more fully understand their world and their money. He has reported from more than a dozen countries, with datelines that include Sao Paolo, Brazil; Phnom Penh, Cambodia; and Athens, Greece. A former attorney, before becoming a journalist Eric worked in securities litigation and white collar criminal defense with a pro bono specialty in human trafficking issues. He graduated from the University of Michigan Law School and can be found any given Saturday in the fall cheering on his Wolverines.

Source: smartasset.com

Apache is functioning normally

June 29, 2023 by Brett Tams

Inside: Are you looking for a remote job? This guide will help you find the best remote jobs for college students, with information on industries, pay, hours, and more.

The internet has made it possible to work from anywhere in the world.

This is great news for college students who want to earn some money while they study.

Back when I was in college, working remotely wasn’t even considered a possibility. But, now, there are a number of online jobs available that are perfect for college students.

In addition, remote jobs are one of the best ways for college students to make money and gain experience.

With a remote job, you can work from anywhere in the world, which is perfect for students who want to travel or live at home with their parents while transitioning to and from a college campus.

There are many different types of remote jobs available, so there is sure to be something that suits your skillset and interests.

In this article, we will explore the best remote jobs for college students.

How can a college student make money remotely?

Remote work has become increasingly popular among college students and for good reason.

Many students today have grown up with technology and possess the skills necessary to excel in remote jobs.

Not only does remote work provide a flexible schedule that can be easily adjusted to accommodate class schedules, but it also offers numerous benefits such as the ability to work from anywhere, reduced transportation costs, and the opportunity to contribute to environmental sustainability by reducing carbon emissions.

Additionally, remote work allows students to earn extra income, potentially reducing their reliance on student loans and minimizing post-graduation debt.

Can I work remotely in college?

Yes! Working remotely in college can be a great way to earn some extra money and gain some work experience.

Remote work has gained immense popularity across the globe, with its adoption nearly doubling since the pandemic.

As college students, you often possess the necessary tools for remote work, such as a laptop, making it a convenient option for them.

This is a great idea if you are looking at how to pay for college without loans.

This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.

This is the perfect side hustle if you don’t have much time, experience, or money.

Many earn over $10,000 in a year selling printables on Etsy. Learn how to get started by watching this free workshop.

If you’ve ever wanted to make a full-time income while working from home, you’re in the right place!

This intensive training combines thousands of hours of research, years of experience in growing a virtual assistant business, and the power of a coach who has helped thousands of students launch and grow their own business from scratch.

The 15 best remote jobs for college students

Working remotely is a great way for college students to earn money and gain experience in their chosen field.

Whether you are looking for a way to make some extra money, or maybe you need a flexible job that will fit around your studies. Whatever the reason, there are plenty of remote jobs out there that could be perfect for you.

Also, you can review these non phone work from home jobs for more ideas.

Here are 15 of the best remote jobs for college students.

1. Virtual Assistant

A virtual assistant is one of the best remote jobs for college students due to its versatility and learning opportunities. Plus there are plenty of virtual assistant jobs with no experience out there.

As the demand for remote administrative support services continues to grow, virtual assistants play a crucial role in helping companies and individuals with various tasks. Working from a remote location, virtual assistants provide administrative assistance by handling phone calls, scheduling appointments, managing emails, and more.

By finding a position as a virtual assistant in their desired industry or with a respected professional, students can make their side hustle more beneficial to their future.

Benefits:

Provides an opportunity to gain professional experience and develop essential skills such as communication, time management, and resourcefulness.
Requires quick thinking and the ability to switch between diverse tasks, which enhances cognitive flexibility and adaptability.
Allows students to learn about different industries and gain insights into their chosen career paths.

Pay: Most virtual assistants average about $20 an hour.

2. Online Tutor

Online tutoring is widely regarded as one of the best remote jobs for college students. With its flexibility and convenience, it offers students the opportunity to work from anywhere at their own pace.

Whether they excel in a specific subject or want to gain teaching experience, online tutoring provides a platform for college students to share their knowledge and help others succeed academically.

Benefits:

A high degree of flexibility it offers.
Freedom to choose their own hours, instruction topics, and the number of students they want to work with.
Balance their tutoring responsibilities with their academic commitments, ensuring they can effectively manage their time.

Pay: Although the reported median hourly wage for tutors was $17 an hour. The actual pay can vary depending on factors such as the subject being taught, the level of expertise required, and the platform through which tutoring is conducted.

3. Proofreader

Proofreading is a crucial role in the final stages of the written content production process, making it one of the best remote jobs for college students. A proofreader possesses a keen eye for detail and a strong command of the language, allowing them to identify and rectify errors that may have eluded the writer or editor.

They play a vital role in ensuring the accuracy, clarity, and coherence of written materials across various industries.

Benefits:

Offer the flexibility to work from anywhere, making it ideal for college students who need to balance their studies with work.
Enhances skill development such as language skills, attention to detail, and critical thinking abilities, which are valuable in various fields.
Networking opportunities to build professional connections and expand one’s network.

Pay: The average pay for proofreading jobs is $22 per hour, providing college students with a valuable source of income.

4. Social Media Manager

In today’s digital world, social media has become an essential tool for businesses to connect with their target audience, build brand awareness, and drive engagement. With the increasing importance of social media, businesses are in need of skilled professionals who can effectively manage their social media presence.

This makes the role of a social media manager one of the best remote jobs for college students, providing them with the opportunity to earn money while gaining practical experience in online promotion.

Benefits:

Enjoy being paid to be on your favorite social media apps.
Ideal remote job for college students due to its flexibility.
Gain practical experience in online promotion, which can be valuable for those studying marketing, journalism, or communications. Benefits:

Pay: The pay for social media management can vary significantly, but you can expect $15 an hour to $25 an hour.

5. Freelance Writer

Remote writing jobs are an excellent option for college students looking to earn extra income while honing their writing skills.

As writers, college students have the opportunity to create a wide range of written materials that can be distributed through various channels, such as articles, blogs, website copy, and more.

The demand for remote freelance writers is high, making it a popular choice among college students seeking flexible work options.

Benefits:

Freelancers can work on short and long-term projects.
As long as you have a computer and internet connection, you can work from anywhere.
Showcase writing skills and earn income.

Pay: The pay for freelance writers is by the word (.01-$1.50 per word). With most freelance writers averaging about $29 an hour.

6. Social media influencer

Social media influencers have become a prominent and lucrative career option in today’s digital age.

For college students, becoming a social media influencer can be an excellent remote job opportunity that allows them to leverage their online presence and pursue their passions while earning money.

To stand out as a social media influencer, it’s essential to create content that is visually appealing and captures the attention of your audience. Experiment with different types of content, such as photos, videos, stories, and live streams, to keep your followers engaged.

Benefits:

Be creative, and authentic, and share valuable information or entertainment that aligns with your niche.
Foster a sense of community.
Monetize your social media presence with sponsored posts, brand partnerships, and affiliate marketing.
Offers flexible working hours, allowing you to manage your studies and other commitments effectively.
Provides opportunities for personal branding and networking, which can open doors to other remote job opportunities in the future.

Pay: Potential for high earnings. This is more passive income than an hourly job.

7. Website or App Tester

Website and app testing is a highly sought-after remote job option for college students due to its flexibility and the opportunity to gain valuable experience in the tech industry.

As designers and developers strive to create the best user experience possible, they often hire individuals to find bugs and issues in their websites and apps. The role of a website or app tester is crucial in ensuring the functionality and usability of these digital platforms.

This feedback is invaluable for designers and developers as it allows them to make necessary improvements and optimize the performance of their websites and apps.

Benefits:

Excellent opportunity for college students to develop and showcase their skills in a professional setting.
Gain practical experience in the tech industry while balancing their academic commitments.
The flexible hours offered by these remote positions allow students to work at their own pace and manage their time effectively.

Pay: Platforms like UserTesting offer a payment of $10 per website tested. You can also find remote hourly wages ranging from $12 an hour to $16 an hour, with potential bonuses based on quality and productivity goals.

8. Video Editing

With the increasing demand for video content across various platforms, video editors play a crucial role in creating engaging and impactful visuals. This profession offers the opportunity to work from anywhere, making it ideal for college students who may have limited availability or prefer a flexible work schedule.

By adhering to the overall video brand messaging strategy, you can shape the final product and captivate the audience. This creative aspect of video editing allows college students to explore their artistic talents and develop their skills in storytelling and visual communication.

Benefits:

One of the key advantages of video editing as a remote job is the ability to work from any location.
Provides a platform for creative expression.
Video editing is a profession that is in high demand.
This high demand translates to a wide range of job opportunities and the potential for steady work, even for college students.

Pay: When it comes to money, beginner video editors can typically charge up to $45 an hour. However, it’s worth noting that rates can vary depending on factors such as experience, the complexity of the project, and client’s budget.

As college students gain more experience and build a strong portfolio, they can potentially increase their rates and earn a higher income from video editing projects.

9. Remote Research Assistant:

Many professors and researchers hire remote research assistants to help with data collection, literature reviews, and other research tasks. This type of job requires strong research and analytical skills, as well as the ability to work independently.

As a research assistant, you will have the opportunity to delve deeper into a specific subject or area of interest.

This can be particularly beneficial if you are considering pursuing further education or a career in that field. By immersing yourself in research projects, you will gain a comprehensive understanding of the topic and develop expertise that can set you apart from others.

Benefits:

Opportunity to work closely with experienced researchers and professionals in your field of interest.
Gain valuable insights, knowledge, and skills that can enhance your academic and professional development.
Learn research methodologies, data analysis techniques, and critical thinking skills that are highly transferable to future career opportunities.
Hands-on experience in conducting research projects.
Build a network of professional contacts in your field.
Depending on the nature of the research projects you are involved in, there may be opportunities to contribute to academic publications or presentations. This can be a significant achievement that adds to your academic portfolio and demonstrates your research skills to potential employers or graduate school admissions committees.

Pay: Compensation for remote research assistant positions varies depending on the project and the level of responsibility. This is a great way to be paid to go to school.

10. Audio Transcription

Audio transcription is a popular remote job for college students that involves listening to audio files and accurately transcribing the spoken content into written form. Additionally, it provides an opportunity to develop valuable skills such as speed and accuracy in typing, excellent listening skills, and efficient time management.

Determine the type of transcription work you want to specialize in, such as technical legal transcription or educational podcast transcription. This will help you target specific clients and tailor your skills accordingly.

Benefits:

Offers flexibility in terms of scheduling, allowing students to work around their classes and other commitments.
Opportunity to develop valuable skills such as listening, typing, and time management, which can be beneficial in various professional settings.
Create a portfolio showcasing your transcription skills and experiences.

Pay: Transcription can be a well-paying job, with freelancing gigs offering up to $0.36 per minute of transcribed audio.

11. Data Entry

Data entry is a popular remote job option for college students due to its flexibility and convenience.

This role involves managing electronic data by entering and updating information in computer systems. It is a job that can easily be done remotely, allowing students to work from the comfort of their own homes or dorm rooms.

However, it is important to be cautious when seeking data entry jobs online to avoid scams.

Benefits:

Minimal specialized skills are required.
Data entry skills can also be beneficial for future career opportunities.
Employers often value individuals with data entry skills, as it showcases their ability to handle and organize large amounts of information accurately and efficiently.
Valuable experience in working with digital documents and databases.

Pay: The average pay for data entry is $18 an hour.

12. Virtual Recruiter

A virtual recruiter is a professional who is responsible for posting online job advertisements and searching for potential candidates to fill various positions.

This remote job opportunity can be particularly beneficial for college students as it offers flexibility in terms of working hours and allows them to gain valuable experience in the field of recruitment while still pursuing their education.

Benefits:

Collaborating with hiring managers and clients to understand their specific requirements and preferences for potential candidates.
This role provides hands-on experience in recruitment, which can be beneficial for your future career in HR or related fields.
Building relationships with candidates, hiring managers, and clients can expand your professional network and open doors for future opportunities.

Pay: The average pay for virtual recruiters is around $20 to $30 per hour, providing the potential for a lucrative income.

13. Blogger

College students can create their own blogs and build an audience by regularly posting content in a unique niche.

While this may not be the easiest route to make money fast, it provides an opportunity to showcase writing skills and develop a cohesive writing style. Once a blog gains a solid stream of visitors, it can be monetized through ads and affiliate links.

However, you will be starting a small online business which has its perks.

Benefits:

This is 100% passive income.
Works as much as you want or as little as you want on your site.
A simple way to help your readers while making money.
Your site can grow as you graduate college until you decide to sell it.

Pay: Various based on traffic and monetization. But it is an easy way to invest $100 to make $1000.

14. Course Creator

As a course creator, you have the chance to teach others about a topic or course that you are passionate about while earning a steady passive income. This job allows you to create online tutorials or how-to videos to educate and engage students from all over the world.

You will be responsible for creating and managing the content on your website and other online platforms. This includes developing blog posts, videos, podcasts, and other educational materials to enhance the learning experience for your students.

Make use of hosting platforms like Thinkific, Teachable, or Kajabi to facilitate easy access to course-related information for your students. These platforms offer features such as course management, student progress tracking, and payment processing, making it convenient for both you and your students.

Benefits:

Opportunity to earn a steady income while pursuing your passion and sharing your knowledge with others.
Working remotely offers flexibility in terms of working hours, allowing students to manage their time effectively and balance their studies with their job.
Gain valuable experience in content creation, marketing, and online teaching, which can greatly enhance their resume for future career opportunities.

Pay: This is a passive income job where you will put the work in upfront and have less ongoing maintenance to run your course.

15. Stock Trader

Stock trading is a lucrative and dynamic field that offers college students the opportunity to work remotely and earn a substantial income. With the rise of online trading platforms and the increasing popularity of investing, stock trading has become a highly sought-after skill in today’s market.

Honestly, I know more and more high school students waiting to turn 18, so they can start life as a stock traders.

As a stock trader, you will be responsible for buying and selling stocks, bonds, and other financial instruments for your own portfolio. This role requires a combination of analytical skills, market knowledge, and the ability to make quick decisions under pressure.

Continuous learning and staying updated on market trends and strategies are crucial to staying competitive in this field. I highly recommend taking the Trade and Travel course to learn the basics of stock market investing.

Successful traders can earn substantial profits, but it is important to note that trading also involves the risk of financial losses.

Benefits:

Stock traders have the potential to earn significant income through their trading activities. Learn how fast you can make money in stocks.
Flexibility to trade before class and work from anywhere with an internet connection.
Opportunity to work independently and be your own boss, setting your own schedule and goals.

However, it is important to acknowledge the challenges that come with being a stock trader. The stock market is highly volatile and unpredictable, requiring constant monitoring and adaptation to changing market conditions.

Pay: Various significantly with your profit /loss ratio. But, a great way to make $1000 a day.

16. Customer Service Agents

Customer service agent remote jobs are a great option for college students looking to gain work experience while studying. These jobs allow students to provide excellent customer service from the comfort of their own homes, offering flexibility and convenience.

Remote customer service agents interact with customers through various communication methods such as phone, chat, and email. They answer customer questions, solve problems, and direct customers to the appropriate resources when needed. These jobs can be done part-time, making them ideal for students with busy schedules.

Benefits:

Require little experience or education.
Develop valuable skills such as communication, problem-solving, and time management.
Showcase their communication skills to future employers, which is a highly desirable quality in any job.

Pay: Earnings can range from $10 to $25 per hour, depending on the role and experience.

17. Photography

Photography is a form of artistic expression that allows college students to showcase their creativity.

You can experiment with different styles, compositions, and subjects to capture unique and visually appealing images. This creative aspect of photography can be fulfilling and enjoyable for college students who have a passion for visual arts.

Benefits:

Choose when and where to take photos, giving them the freedom to balance their academic and personal lives effectively.
Build a portfolio of their best work. A strong portfolio can open doors to more significant opportunities in the future, such as exhibitions, collaborations, or even full-time photography careers.
Earn income while honing their skills in product, stock, or event photography.
When stock images are licensed, earn passive income from the sales.

Pay: When it comes to pay, the average rate for a photographer is $24 per hour. However, it’s important to note that pay can vary depending on factors such as experience, location, and the type of photography gig.

18. Virtual Internships

Virtual internships provide valuable work experience and allow you to gain industry-specific skills while working remotely. Many companies offer virtual internships in fields like marketing, finance, and technology.

Having an internship in the field you want to pursue is an invaluable opportunity to gain practical experience and enhance your career prospects.

Additionally, virtual internships can provide you with a unique perspective on the field you want to pursue (and if you still want to pursue it).

Benefits:

Gain relevant work experience in your desired career field.
Practical experience will not only enhance your understanding of the industry but also demonstrate your competence and dedication to potential employers.
Greatly strengthen your resume.
Build a network of contacts in your desired field.

Pay: These internships may be paid or unpaid, but the experience and connections you gain can be invaluable for your future career.

Looking for Online Summer Job?

There are a plethora of online summer temporary jobs available for college students. You just have to decide what is interesting for you to do.

Also, think about ways you can build your resume for future employment after graduation.

If I could go back to college, I would focus on learning how to make your money work for you. That is one of the best life skills you can truly understand.

This list above has plenty of options for you to consider.

Are you passionate about words and reading?

If so, proofreading could be a perfect fit for you, just like it’s been for countless of readers! Learn how you can create a freelance business as a proofreader.

Check out this free workshop!

Bookkeeping is the most stable, reliable & simple business to own. This is how to make a realistic income -either part-time or full-time.

Find out TODAY if this is THE business you’ve been looking for.

FAQ

Many colleges and universities have career centers or job boards that specifically cater to remote job opportunities for college students.

Networking is crucial for college students when it comes to finding remote job opportunities. Reach out to your professors, classmates, and alumni who may have connections or knowledge of job opportunities.

This is smart if you want to know how to move out at 18.

Remote work requires a unique set of skills that allow individuals to effectively perform their job duties from a distance. In order to succeed in a remote job, college students should possess the following skills:

Time management: Remote work often provides flexibility in terms of scheduling, but it also requires individuals to manage their time effectively. College students need to be able to prioritize tasks, set deadlines, and stay organized to ensure they meet their work obligations.
Communication skills: Since remote work involves limited face-to-face interaction, strong communication skills are essential. College students should be able to effectively communicate through various channels such as email, instant messaging, and video conferencing.
Self-motivation: Working remotely requires a high level of self-discipline and motivation. College students need to be able to stay focused and productive without direct supervision. They should have the ability to set goals, stay on track, and meet deadlines without constant oversight.
Adaptability: Remote work often involves working with different tools, technologies, and platforms. College students should be adaptable and willing to learn new software or applications that are necessary for their role.
Problem-solving: Remote work may present unique challenges and obstacles that require critical thinking and problem-solving skills. College students should be able to analyze situations, identify potential issues, and come up with innovative solutions. This skill is particularly important when faced with technical difficulties or communication issues.

By honing these skills, college students can position themselves as valuable assets to remote employers and increase their chances of securing remote job opportunities.

When you’re applying for remote jobs, most of the time your potential employer will want to see some kind of portfolio that showcases your skills and experience.

You can create a portfolio by using a free online portfolio builder or by creating your own website.

With a visually appealing and user-friendly portfolio, you can make a lasting impression and increase your chances of landing your dream remote job.

Which Online Jobs for College Students Are Interesting To You?

There are a lot of great remote jobs for college students out there!

With a little bit of research, you can find the perfect job for your skills and interests.

Be sure to consider the pay, hours, and industry when you are looking for a remote job as well as career advancement.

For many students, working in college is a must! Because you know how to pay for college without parents is hard.

So, use these ideas to find the right job for you whether it is part-time or full-time.

And if all else fails, check out this list of low-stress jobs that pay well without a degree.

Source: moneybliss.org

Apache is functioning normally

June 28, 2023 by Brett Tams

Employer-sponsored 401(k) plans are a popular way for workers to save for retirement, but they’re not the only way. If you’re self-employed or your employer doesn’t offer a 401(k), there are retirement savings vehicles out there that will work for you. Let’s take a look at both solo 401(k) plans and IRAs. If you’d like personalized advice about planning for retirement, consider working with a financial advisor.

What Is a 401(k)?

A 401(k) is an employer-sponsored retirement account that offers tax benefits. A traditional 401(k) will be withdrawn from your paycheck pretax and will only be taxed when you withdraw from it in retirement. A Roth 401(k) is similar, but the money that goes into it is already taxed, so it won’t be taxed when you withdraw from it in retirement. You can withdraw from your 401(k) penalty-free beginning at age 59 ½.

Once you deposit money into a 401(k), it’s invested according to your choices—you’ll be presented with investment options when you complete the paperwork. That money will grow not just through contributions, but through interest and earnings on those investments.

These plans were specifically created to incentivize workers to save for retirement. If you contribute to a traditional 401(k), your taxable income is reduced due to the 401(k) withholdings. If you’re contributing 6% of your income to a 401(k), you don’t owe taxes on that 6% of your income. With a Roth 401(k), instead of saving on taxes in the year, you contribute money to your 401(k) and you’ll enjoy the savings when you withdraw it in retirement.

Can You Open a 401(k) Plan Without an Employer?

As a 401(k) plan is an employer-sponsored retirement account, there’s an option for a self-employed person with no employees to open one with themselves as the sponsor. This is called a solo or one-participant 401(k) plan.

A solo 401(k) works exactly like a traditional 401(k) plan you would get with an employer—you’re just the employer and the account holder. Just like a 401(k) plan with an employer, there are contribution limits, but they’re much higher because you are serving as both employee and employer. We’ll cover those contribution limits later.

If you’re not a self-employed person, your best option is likely an individual retirement account (IRA). Whether you opt for a traditional IRA or a Roth IRA, both are tax-advantaged savings vehicles that will help you prepare for the future and have similar benefits to 401(k) plans.

Some traditional IRAs will also allow you to deposit pretax income and only pay taxes upon withdrawal in retirement. IRAs offer a great deal of freedom because, outside of income thresholds, they are not related to your employment status and you can open one anytime. Roth IRAs are funded with taxed income, but withdrawals aren’t taxed unless you withdraw before the age of 59 1/2.

You’ll need an employer identification number (EIN) to open a solo 401(k), but you can easily find a provider for the retirement accounts mentioned. Compare reviews and choose one with the benefits and features that work for you.

How Much You Can Contribute to Your Retirement Account

Understand how much you can contribute to your retirement accounts, without an HR department to help you, you could run into trouble. The IRS sets contribution limits that often change. Here are the limits for 2023:

Solo 401(k): Solo 401(k) limits are a bit more complicated because you are serving as both the employee and employer. These are divided into elective deferrals, of up to $22,500—or $30,000 if you’re 50 or older—and employer nonelective contributions of up to 25% of compensation as defined by your plan. Total contributions cannot exceed $66,000. The IRS recommends using the worksheets in Chapter 5 of Publication 560, Retirement Plans for Small Business to figure out your allowable contribution rate and tax deduction for your 401(k) plan contributions.
Traditional and Roth IRAs: Both types of IRAs have the same annual contribution limit of $6,500—$7,500 if you’re 50 or older—or your taxable compensation for the year if it’s less than those numbers

The Bottom Line

While your options are a little different without an employer-sponsored 401(k), there are fantastic retirement savings options available for self-employed workers or those that don’t have plans available through their employer.

Do some research to see which one is right for you, then open a retirement account to prepare for the future while unlocking tax savings.

Retirement Planning Tips

Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Use SmartAsset’s free retirement calculator to see if you’re on track to meet your retirement goals.

Photo credit: ©iStock.com/svetikd, ©iStock.com/blackCAT, ©iStock.com/insta_photos

Source: smartasset.com

Apache is functioning normally

June 28, 2023 by Brett Tams

Purchasing airfare can be a complicated process, and it can take considerable skill and patience to find the best possible ticket prices. To demystify the process and help you snag a great price on your next trip, we gathered 11 of our tried-and-true strategies for finding the best prices on airfare.

Every situation is unique, so you may not be able to apply every single one of these strategies every time you fly. Your mileage may vary based on your desired route(s) or planned date(s) of travel.

Regardless of where or when you’re going, bookmark this story so you can easily reference these strategies for finding cheap airfare.

Start with Google Flights

GOOGLE.COM/FLIGHTS

When shopping for a flight, the first thing you’ll want to do is figure out which airlines operate a given route and get an idea of the average prices.

Instead of visiting each airline’s website individually, start by searching a site like Google Flights that will produce results from numerous airlines. Google Flights is a robust search tool that not only shows you pricing based on your date and route but also displays alternate pricing via a date grid and price graph that can help you save money.

You can even set up tracking alerts to receive email notifications if the price for your desired route drops.

Related: What you need to know about using Google Flights for award flight searches

Keep in mind that Google Flights is not a booking platform, so you can’t actually make a reservation or pay for your ticket through the site. When you click on a flight you want to book, it will take you to that airline’s website to complete your booking.

Check carriers that don’t appear on third-party sites

MATT NAGER/FRONTIER AIRLINES

One of the main weaknesses of online search engines is that they often won’t list the flights of all carriers, such as Southwest and some ultra-low-cost carriers, like Allegiant and Frontier.

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The best way to find out which of these carriers serves a particular airport is to search for the route map on each airline’s website (or Google the airline name with “route map”). Once you know about any alternate carriers, you can check their pricing and compare it to the pricing you found for the airlines listed on Google Flights.

Search one-way and round-trip flights

More often than not, round-trip tickets are cheaper than purchasing two one-way flights, but we all know there are exceptions to every rule.

For example, JetBlue and Southwest typically price their tickets on a one-way basis; a round-trip flight is simply the sum of the two one-way prices. Occasionally, though, you may get the best round-trip deal by pairing two one-way tickets, potentially on two different airlines.

Remember, Google Flights is a terrific tool to show you when separate one-ways could be the cheapest option.

GOOGLE.COM/FLIGHTS

Just be aware that booking two one-way flights does carry some risk if you need to cancel or change your trip. If you book your outbound and return flights on different carriers and both charge $200 change or cancellation fees, you’ll be hit twice if you need to adjust your travel plans. Changing both ends of a round-trip flight booked on a single airline would only incur that fee once.

Related: How to avoid airline change and cancellation fees

Search one seat at a time

There’s a little-known quirk in how airlines price seats that can result in much higher prices when searching for multiple passengers versus a single ticket. Airlines place their inventory in fare classes (sometimes called “buckets”) that aren’t always clearly visible to consumers.

For example, there might be only three seats left in a fare bucket for $300 each, and the next higher bucket might be $400 per ticket. However, if you were to search for four seats, everyone would fall into the $400 fare bucket.

By searching for a single seat, you’ll see one of the three remaining $300 tickets. With a little trial and error, you’d then know to book one reservation with three tickets at $300 each and another reservation for the fourth ticket at $400. In this example, applying this simple strategy would save you $300 from what you’d pay by booking all four seats on a single reservation.

To make this a bit easier, many airlines will even tell you how many are left at that price, like this example from Miami International Airport (MIA) to New York’s LaGuardia Airport (LGA) on Delta.

DELTA.COM

If you had searched for three or four tickets, the price of that one-way flight jumps to $249.30, an increase of $56 per passenger. This trick also works when you need to book multiple award flights that aren’t all available at the lowest mileage levels.

Search alternate airports

Sometimes the cost of a flight is just so high that it can make sense to use your second or perhaps third choice of airports. Many airlines allow you to search all airports in a region by specifying the destination as the city (e.g. New York City) instead of a particular airport.

For example, the New York area has three large airports: John F. Kennedy International Airport (JFK), Newark Liberty International Airport (EWR) and LGA. However, you’ll find even more flights if you expand your search to nearby Long Island McArthur Airport (ISP), Westchester County Airport (HPN) and Stewart International Airport (SWF).

When you use Google Flights, for example, you can enter your origin and destination cities instead of a specific airport name. This opens up more – and possibly cheaper – flight options.

Leverage elite status

ZACH GRIFF/THE POINTS GUY

Having elite status won’t get you discounted tickets, but you might be able to use it to save money another way. Having elite status with most carriers will allow you to stand by for earlier flights or perform same-day confirmed flight changes.

This could allow you to book a discounted flight at an inconvenient time, only to change it to the flight you want at no additional cost. Even if you don’t have elite status, the charge to stand by or make a same-day confirmed flight change might be less than the fare difference between the flight you want and the cheapest option that day.

For details on the major airlines’ elite status programs, check out the following guides:

Use the right credit card

The right credit card can offer you significant savings on airfare in a variety of different ways. For example, The Platinum Card® from American Express offers 5 points per dollar on all airfare purchases made directly with the airline or through the Amex travel portal (up to $500,000 in annual purchases), worth 10 cents per dollar spent, according to TPG’s latest valuations.

Related: The best credit cards for airfare purchases

Chase Sapphire Reserve cardholders can earn 5 points per dollar on flights booked through the Chase Ultimate Rewards portal. You can also use your $300 annual travel credit toward airfare purchases because they typically code as travel.

Other cards, including the Chase Sapphire Preferred, the American Express® Green Card and American Express® Gold Card, also have elevated points earnings for flights.

Check first class

ZACH HONIG/THE POINTS GUY

Don’t ask us why, but once in a blue moon, you may find that a first-class ticket can be very close to the price of one in economy class — or sometimes even less. Some possible explanations are that people forget to check the price of first class and that many companies don’t allow their employees to book first class, even when it’s less expensive. Also, discounted first class fares might exist when only full-fare economy class tickets are for sale.

Related: Are first-class tickets worth the splurge?

Either way, always check the price of a first-class ticket before paying for an above-average economy class fare. When you factor in the additional miles you will receive as well as the free baggage allowance, lounge access and in-flight amenities, it may justify a modest premium in fare.

Look for coupons and other offers

Like any business, airlines occasionally offer coupons and other discounts. For example, your Amex Offers could feature airline rebates, or you could save money with an all-you-can-fly pass like those offered by Frontier. Other low-cost carriers like Southwest often offer flight deals that can save you hundreds of dollars on airfare.

Buy miles

When faced with an expensive fare and a shortage of miles, consider buying the miles you need for an award ticket, especially when they are on sale. It rarely makes sense to purchase miles without a bonus and without a specific award in mind, but when you can save money by purchasing miles and immediately redeeming them for an award flight, it can be a great idea.

Reprice, reprice, reprice

ALBERTO RIVA/THE POINTS GUY

Many airlines allow you to rebook your airfare if the price drops after you book your flight. For example, if the price of your Southwest flight drops after your initial booking, you can rebook your flight and receive a credit or a cash refund, depending on your fare type.

Delta Air Lines, American Airlines and United Airlines also have a “no-change-fee” policy for most flights and fare types. Once you book, check for fare drops on a regular basis and snag that refund if the price drops.

Bottom line

Purchasing airfare can be a complicated endeavor, with so many carriers competing for customers and adjusting prices frequently.

Thankfully, there are several simple strategies you can use to minimize your out-of-pocket expense for booking flights. Even if you pick two or three of these as a starting point, you’ll be well on your way to finding the best flight prices for your next trip.

Related reading:

Additional reporting by Jason Steele.

Source: thepointsguy.com

Apache is functioning normally

June 27, 2023 by Brett Tams

Courtesy AvalonBay Communities press release

The average American has probably never heard of AvalonBay Communities. Very few outside the real estate and financial industry have ever heard of the company’s CEO Timothy J. Naughton. Even so, well over 100,000 people live in one of AvalanBay’s nearly 300 apartment communities spread across 11 states. Like many of the world’s most successful companies, this massively successful REIT sits at a crossroads in a crisis. The ongoing pandemic will certainly force a new social and business landscape upon us. The question remains as to whether the best and brightest will pave a new frontier, or be paved over.

Spotlight!

An equity REIT heavy into the business of developing, redeveloping, acquiring and managing multifamily communities primarily, AvalonBay is the 3rd largest owner of apartments in the United States. The company created by Richard Michaux, and Chuck Berman with the merger of Avalon Properties Inc. and Bay Apartment Communities Inc. back in 1998, now has over 3,000 employees and assets worth $20 billion.

From the AvalonBay Communities earnings announcement via Yahoo Finance

Timothy J. Naughton, who started with the company right out of Harvard Business School, runs a company that always provides stockholders with value. The first two-quarters of 2020 show, that even in the craziest economic times, shares of AVB pay-out. Q2 the stock dividend was $1.59 per share, and as of the close yesterday shares were $151.86, climbing back up from a low on May 14th. However, today’s story is not all profits and positives. Naughton’s REIT is in big PR trouble at the worst possible time.

Cook With COVID Heat

A story at City Watch by author Patrick Range McDonald tells a California horror story where the United States’ biggest apartment owners are trying to stop the expansion of rent control through the Rental Affordability Act. According to the report, AvalonBay Communities, alongside Equity Residential, Essex Property Trust, UDR, and GID are pressing hard to silence housing activists who say rent control in California must happen on account of “Californians struggling to make ends meet and pay already unfair sky-high rents.” Unfortunately, Naughton and colleagues are in a firefight at the wrong, time in the wrong place.

The situation in California is about to go supernova. The coronavirus pandemic has unmasked a monumental inequality in not only California but across the U.S. This quote from a 2015 report by the Yale Global Health Leadership Institute is a dagger strike to the jugular of the REITs in the housing business:

“Whether enabling access to housing, creating a supportive housing environment or simply expanding the availability of affordable housing to families in lower-poverty neighborhoods, the evidence suggests housing is critical to the health of vulnerable individuals.”

Stir!

On the side of the big boys are a Republican U.S. administration, deep pockets, and massive advertising to scare Californians about the liberal backed Rental Affordability Act. Also, the fact that AvalonBay Communities, Inc. has a long-term track record “delivering outsized, risk-adjusted returns to shareholders,” this means a lot of influential people have an interest in this mess. This brings to mind two questions. First, will their political clout be enough in this crisis? Secondly, is it even business-wise to try and fight the wrong fight?

Even if the high-dollar lobbying and advertising pay off, and the law is defeated, AvalonBay Communities, Inc. and the others involved will never live down the fact they tried to leverage big profits at a time of chaos, death, and homelessness. The reports and research won’t go away. The senior citizens strapped each month for cash won’t disappear, that is unless COVID-19 takes them all. Like I said, today’s story is not a Timothy J. Naughton cheerleading practice. AvalonBay Communities’ CEO has some out of the box thinking to do, and quick.

New Business – Served!

COVID-19 is ushering in what’s being labeled a “new normal” everywhere in the world. And while this new reality will mostly be held up by the renters, shop owners, and so-called “little people,” what’s tolerable and feasible for big business is going to change too. At the moment real estate Titans are fighting for a totally free market, San Diego has turned its convention center into a homeless shelter.

The perception is that billionaires owning huge real estate businesses are now fighting against a grassroots housing revolution at the key moment when the importance of rent control as a critical tool for housing stability. And the perception this time is the reality. This whole “fairness” situation is already a gigantic political football in a presidential election year.

The good PR on the side of the Democrat-backed rents issue is also magnified by things lie REIT tax liabilities and dividend requirements, etc. This report from EY, a global leader in assurance, tax, transaction, and advisory services makes my “new business” argument for me. Authors Mark Kaspar, and Henry Stratton say REITs need four priorities stand out at a time when real estate investment trusts assess, stabilize, and reimagine their business.

Finally, Matthew DiLallo at Motley Fool says there are certain Virus-resistant REIT sectors, and he’s right according to an analysis by BofA Securities (NYSE: BAC). I won’t go into these sectors here, but the huge residential REITs are not on the list of those that will be unaffected. My point being, Timothy J. Naughton needs to sleep at night wearing that Harvard tweaked thinking cap in these trying times.

By the way, I spotlighted AvalonBay Communities because they seem more pioneering than too many others.

Phil Butler is a former engineer, contractor, and telecommunications professional who is editor of several influential online media outlets including part owner of Pamil Visions with wife Mihaela. Phil began his digital ramblings via several of the world’s most noted tech blogs, at the advent of blogging as a form of journalistic license. Phil is currently top interviewer, and journalist at Realty Biz News.

Apache is functioning normally

June 27, 2023 by Brett Tams

Inside: Are you confused about how gross pay and net pay are calculated? This guide will clear everything up. Learn about the different deductions that are taken from your paycheck, as well as the tax rates that apply to your gross pay.

This is one of the most confusing questions for many people.

So, if you are wondering what the difference between gross pay and net pay, you are in the right place.

In order to become financially stable, you need to have a tiny amount of financial literacy.

If you’re like most people, you probably think of your “gross pay” as the amount of money you make before taxes are taken out. But in reality, gross pay is your total compensation from your employer before any deductions are made.

So what is “net pay,” then? Net pay is the amount of money that actually goes into your bank account or paycheck after all of those deductions are made.

Now you want to which one is more important between gross pay and net pay.

The answer is: it depends! If you’re trying to save money or make a budget, then net pay is probably more important to you. But if you’re trying to figure out how much taxes you’ll owe at the

We will dive into all of the details, you will not ever be confused again.

This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.

What is gross pay?

Gross pay is the total amount of money earned by an employee before any taxes or deductions are taken out. It’s important to know your gross pay as it determines your overall income and can impact your taxes and benefits.

This is the total amount paid by your employer.

Knowing your gross pay is crucial for financial planning and paying taxes.

How can I calculate my gross pay?

To calculate gross pay, you need to know your hourly wage or salary, any overtime pay, bonuses, and additional reimbursements for work-related expenses.

For hourly workers, multiply the hourly wage by the number of regular hours worked within a pay period and include the overtime pay rate for any extra hours.
For salaried workers, multiply the gross monthly income by 12 to find the annual gross salary.
To calculate a paycheck, start with the annual salary amount and divide it by the number of pay periods in the year.

Find out 5000 a month is how much a year.

What deductions are taken out of gross pay?

Gross pay refers to the total amount of money an employee earns before any deductions are taken out.

As such, there are no deductions.

Learn what is annual income.

How are taxes calculated on gross pay?

Gross pay is the amount an employee earns before taxes and deductions are taken out by their employer.

Understanding taxes on gross pay is essential, as it affects an employee’s take-home pay and tax liability.

Taxes that are deducted from gross pay include FICA payroll taxes, federal and state income tax withholding, along with any state-mandated programs like this Colorado Paid Sick Leave.

To calculate taxes on gross pay, an employer uses a formula that subtracts all taxes and deductions from the gross pay amount. Learn how much you should withhold on your taxes.

Common issues that may arise during tax calculation include incorrect tax withholding and not considering voluntary pre-tax deductions. Understand why do I owe taxes this year.

Wealth Building and Tax Reduction Secrets from an IRS Insider

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It offers proven methods for taking advantage of the tax system to get a yearly subsidy of $5,000 or more back from the IRS―and bulletproof your records forever.

How to Build Massive Wealth by Permanently Lowering Your Taxes

For U.S. taxpayers, you will find helpful tips in this new edition to help you apply the new tax incentives to your situation.

Tax breaks are not only for the rich. It is for everybody! You just have to take time and learn it.

What is net pay?

Net pay refers to the amount of money an employee takes home after all deductions and taxes have been taken out of their gross pay.

This is the money left over that you can spend, save, and invest.

Thus, you will be able to budget by paycheck like a pro!

How to calculate net pay?

Calculating net pay is crucial for accurate and compliant payroll management.

Here is a step-by-step guide on how to calculate net pay:

Determine the gross pay based on hours worked or salary divided by the number of pay periods in the year.
Subtract mandatory deductions, including health insurance premiums, federal, state, and local income taxes, payroll taxes, and court-ordered wage attachments.
Subtract voluntary deductions, such as employee contributions to a 401(k) or other retirement plan as well as any flexible spending account.
The resulting amount is the employee’s net pay.

Learn about annual net income.

What deductions are taken out of net pay?

Net pay refers to the amount of money an individual receives after taxes and other necessary deductions have been subtracted from their gross pay.

It is a crucial factor in determining an individual’s income, as it represents the actual amount of money they take home.

There are various deductions that are commonly taken out of net pay, including mandatory and voluntary deductions.

Mandatory deductions are made in accordance with the law, while voluntary deductions are ones that employees have the freedom to opt out of.

The mandatory deductions include:

Federal, state, and local income taxes
Social security taxes
Medicare taxes
Local state or municipal taxes

Other common voluntary deductions from gross pay include:

Health insurance premiums (if signed up on a company plan)
Retirement contributions
Health savings account contributions
Flexible spending account contributions
Dependent Care FSA

Is gross before or after taxes?

Gross pay is BEFORE taxes.

Gross pay is the amount earned before taxes and other deductions are taken out. Taxes are then calculated based on the gross pay amount and deducted to arrive at the net pay. This means that gross pay is always before taxes.

Understanding the difference between gross pay and net pay is important to effectively manage finances.

Gross pay may seem like a large amount, but it is important to consider the impact of taxes and other deductions on the final amount received.

What is the difference between gross pay and net pay?

Gross pay and net pay are two important terms that employers and employees should understand.

Gross pay refers to an employee’s total earnings before any deductions are taken out, while net pay is the amount an employee takes home after deductions such as taxes, benefits, and garnishments have been subtracted.

Here are some key differences between gross pay and net pay:

Gross pay includes all earnings, such as wages, salary, reimbursements, commissions, and bonuses, while net pay is the actual amount of the paycheck after deductions.
Employers are responsible for deducting necessary expenses from an employee’s paycheck and making payments to the appropriate accounts before issuing the check or depositing the net pay into the employee’s bank account.
Gross income determines an individual’s federal income tax bracket and borrowing capacity, while net pay presents disposable income.
When budgeting for the year, starting with gross wages requires subtracting the total of taxes and other deductions to compute the actual amount left to spend from each paycheck.

Understanding the difference between gross pay and net pay is crucial for effective budgeting and financial planning.

Employers must ensure proper employee taxes are collected and paid to the government, while employees need to know their take-home pay to manage their expenses.

How do gross pay and net pay work?

Gross pay and net pay are two important terms in the payroll world that employees should understand to manage their finances effectively.

Gross pay is the total amount of pay while net pay is the amount of money you have to spend each month.

Understanding the difference between gross and net pay can help employees and employers avoid confusion and manage their finances better.

What is better gross pay or net pay?

One term is not “better” than the other as they each have different meanings.

When you increase your gross pay, your net pay will rise as well.

Here is how to use gross pay to your advantage:

Provides a clear understanding of the employee’s total compensation
Helps employees plan for future expenses
Can be used as a basis for negotiating salary increases
Figure out the amount of taxes you are required to pay.

Here is how to use net pay to your advantage:

Reflects the employee’s actual take-home pay
Helps employees budget for their expenses
Provides a clear understanding of the impact of deductions on their pay
Can be difficult to compare with other job offers that list gross pay

Overall, net pay is better for employees as it reflects their actual take-home pay and helps them budget for their expenses.

However, it’s important for employees to understand both gross pay and net pay to make informed decisions about their compensation.

Why do you receive more gross pay than net pay in your paycheck?

Employees receive more gross pay than net pay in their paychecks because gross pay is the total amount of money an employee earns before any deductions are taken out.

This includes an employee’s salary, wages, commissions, and bonuses.

On the other hand, net pay is the actual amount of money an employee takes home after taxes, benefits, and other mandatory deductions have been subtracted from their gross pay. These deductions can include federal and state taxes, Social Security contributions, health insurance premiums, and retirement plan contributions.

Therefore, employees receive more gross pay than net pay.

Learn is social security disability income taxable.

FAQs

Overtime wages are included in gross pay when an employee works more than their regular hours and earns additional compensation for the extra hours worked.

This is the case for nonexempt employees who are entitled to overtime pay under federal or state law.

Net income is the take-home pay or the money that you earn on payday, which is why it may be best to focus on that number when creating a budget.

This number helps you determine how much you have to spend, save, or invest.

By tracking your expenses and using budgeting techniques like budgeting with percentages or the 50/30/20 rule, you can manage your finances effectively and make the most out of your net income.

Remember, creating a budget is about being realistic and disciplined with your spending habits, so make sure to adjust your budget accordingly as your income or expenses change.

The tax rates for gross pay depend on the specific taxes being withheld, such as federal income tax, Social Security tax, and Medicare tax.

Federal income tax rates vary depending on the employee’s income level and filing status, with higher earners generally paying a higher percentage of their gross pay in taxes. Click here for the latest federal income tax brackets.
Social Security tax is a flat rate of 6.2% for the employee on the first $$160,200 of gross pay earned. Your employer must match the same contribution. (source)
Medicare tax is a flat rate of 1.45% on all gross pay with the employer matching the same percentage, with an additional 0.9% tax for high earners. (source)

Employees need to understand their tax liability based on their gross pay to accurately calculate their net pay and avoid any surprises come tax time.

Now, you Know the Difference between Gross and Net Pay

Understanding deductions and their impact on net pay is crucial for employees to accurately budget and plan their finances.

Since you know the difference between gross and net pay, you can make sure that you are getting the right amount of money in your paycheck.

Be sure to check your pay stubs carefully to make sure that all of the deductions are correct. If you have any questions, be sure to ask your human resources department.

Source: moneybliss.org

Apache is functioning normally

June 27, 2023 by Brett Tams

Inside: Are you looking for ways to make money quickly and easily? This guide has a variety of tips and tricks to help you make 1000 a day.

Making money is something that everyone is interested in. And why wouldn’t we be? Money gives us the ability to buy the things we want, travel, and live a lifestyle that most people can only dream of.

But what if I told you that it was possible to make $1000 a day? Would you believe me?

Well, in this blog post, I’m going to show you some of the best ways to make money really fast.

So if you’re looking to make some quick cash or consistent income, then this is the post for you!

In this post, I will share with your some of the best ways that I know of to make money $1k a day on a regular basis.

So if you’re ready to learn how to make 1000 a day, then let’s get started!

Is it possible to make $1000 a day?

Yes, it is possible to make $1000 a day.

In fact, this is something I regularly do (see picture to prove it).

However, achieving this goal requires commitment, hard work, and a solid plan. Factors that contribute to achieving this goal include finding a method that works for you, sticking with it, and putting in the necessary effort.

Additionally, having a unique skill set and interest in a particular method can increase the chances of success.

How to make $1000 a day?

Making $1000 a day is an appealing goal for many people, whether it’s a one-time need or a consistent source of income. Fortunately, there are several ways to achieve this goal.

Here are the top ways to make $1000 a day:

Start a high-paying job: Some jobs pay over $300k a year, and while they may require advanced degrees and education, there are also a few that don’t require a college degree.
Offer high-value services: You can offer services such as pet-sitting, tutoring, design work, or writing to make money.
Start a business: You can start a business that generates $1000 a day, such as a digital marketing agency, freelancing, or a service-based business.
Sell items you no longer need: You can sell items on eBay, Craigslist, or other online marketplaces to make quick cash.
Let your money work for you: You can invest in stocks and shares, real estate, or property to earn upwards of $1000 a day.

While each method has its own advantages and disadvantages, with the right strategy and dedication, making $1000 a day is achievable.

So, get started today and see how much money you can make.

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If so, proofreading could be a perfect fit for you, just like it’s been for countless of readers! Learn how you can create a freelance business as a proofreader.

Check out this free workshop!

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Best ways to make 1000 a day

We’ve compiled a list of our favorite ways to make money really fast – specifically $1k a day!

Many times, you will have to invest 100 to make 1000 a day.

If you’re looking for ways to make some extra cash, or even earn a full-time income, this post is for you.

1. Freelance Writing

Freelance writing is a great way to make extra money or even replace your full-time job. There are various types of content that freelance writers can specialize in, such as long-form content or shorter direct-response copywriting.

With freelance writing, you can earn over $.50 or even $1 per word, which means that a 1,000-word article could net you $1,000 quickly.

To start, you need to establish a portfolio of your work to pitch to new clients. This portfolio should include links to any relevant articles or copy you’ve written that’s related to the client you’re pitching. If you don’t have a portfolio yet, you might need to do some work at lower rates to get your foot in the door.

Even if you don’t consider yourself a writer, don’t strike it off the list just yet. With the right approach and mindset, anyone can become a successful freelance writer.

2. Crafting

Crafting offers many benefits beyond just making extra cash. It allows for flexibility in your schedule, creativity in your work, and the ability to turn a hobby into a lucrative business.

If you are creative and have a talent for creating handmade items, then starting a crafting business is the perfect way to monetize that skill by doing something you enjoy. There are plenty of crafts to choose from and you may even become an instructor!

The most difficult side is you are trading your time for money and it may be difficult to scale.

3. Day Trading Stocks

Day trading stocks is a high-risk, high-reward investment strategy that involves buying and selling stocks within a single trading day. It requires a great deal of knowledge, discipline, and risk management to be successful.

However, there is a large group of us who have made the $1000 in a day club.

Successful day traders use a combination of technical analysis, risk management, and discipline to make profitable trades.

This choice requires discipline, a proper trading education, knowledge, and risk management.

Trade and Travel with Teri Ijeoma is a popular course that investors can take to learn about trading stocks and options and begin their journey to making $1,000 a day.

4. Trading Options

Trading options can be a lucrative way for seasoned investors to make money.

With options, investors can speculate on different stocks with only a fraction of the investment capital needed to buy the stocks outright.

Investors who are familiar with investing in individual stocks can take the next step in the process by trading options. While options may seem exotic on the surface, they are a common tool used by seasoned investors and are especially valuable during volatile activity in the stock market.

To trade options successfully, investors need research skills, investing knowledge, discipline, and patience.

Trading options can be a high-risk option, especially for those who lack expertise in the area. However, it can be extremely lucrative for those who have experience and knowledge in the stock market.

Investors should consider taking courses to learn more about trading options.

5. Youtube

YouTube can be a great source of income for those who are willing to put in the effort to create quality content. It offers multiple ways to generate revenue, including sponsorships, affiliate marketing, and Google Adsense.

With the right approach, it’s possible to make $1000 or more per day on YouTube.

Remember, success on YouTube takes time and hard work, but the potential rewards are significant.

6. Selling on Amazon

Selling products on Amazon can be a highly profitable business opportunity.

Amazon FBA, or Fulfilled by Amazon, is a business model where you send your inventory to Amazon warehouses and they handle the rest, including storage, shipping, customer service, and returns.

This makes it a great option for digital nomads and those looking to scale their business quickly.

With an average profit margin of $20 per sale, it’s possible to make $1,000 per day by selling just 5 units per day of 10 different products.

7. Sell Printables Online

Selling printables online has become a popular way to make passive income.

With the rise of digital products, creators can sell anything from coloring pages to budget spreadsheets on platforms like Etsy. Thousands of creators make a living selling digital products, and it’s easy to see why.

Learn how these sellers got started.

The key is to pick a topic you’re knowledgeable in and passionate about, so you can create high-quality products that people will want to buy.

8. Dropshipping

Dropshipping is one of the best ways to make $1000 a day, especially for those looking to start a business with minimal initial investment.

This business model allows entrepreneurs to sell products to customers without ever holding a single piece of stock.

Dropshipping is a viable and profitable business model that can generate high profits without the hassle of managing inventory. With the right niche, platform, supplier, and marketing strategy, entrepreneurs can make $1000 a day or more with dropshipping.

9. Consulting

Consulting is one of the best ways to make $1000 a day!

It’s a lucrative career option that allows you to provide expert advice to clients and help them solve problems.

The first step to becoming a consultant is to determine your area of expertise. This could be anything from personal finance to marketing to human resources. Your expertise should be something that you have significant knowledge and experience in.

One of the most important aspects of becoming a consultant is building your network. This includes reaching out to potential clients, attending networking events, and connecting with other professionals in your field.

10. Become a Virtual Assistant

Being a virtual assistant can be a great way to make money while setting your own hours.

As a virtual assistant with no experience, you can work from home and typically on your own schedule. You can choose to work part-time or full-time based on your availability and the workload of your clients.

The tasks that you are asked to perform as a virtual assistant can vary widely, but commonly needed skills include administration, accounting and bookkeeping, marketing, communications, customer service, and many other capacities.

You don’t need special skills or training for this job, as most clients will bring you up to speed on what they need to do. However, having organizational, communication, and time-management skills can be helpful.

Check out the checklist to get started as a virtual assistant.

11. Side Hustles

Side hustles are a great way to earn extra income and supplement your regular income. With a little effort and some creativity, you can make up to $1000 a day with certain side hustles.

Here are some of the best side hustles that can help you achieve this goal:

Deliver food: You can make good money by delivering food with these apps. You can choose your own hours and work as much or as little as you want. DoorDash is a great option.
Drive with ridesharing apps like Uber and Lyft: If you have a car and some free time, you can earn money by driving people around. You can make up to $1000 a day, depending on how much you work.
Pet sit or walk dogs: If you love animals, you can make money by pet sitting or dog walking through Rover.com. You can earn up to $50 per day, depending on the services you offer.
Babysit or tutor: If you have experience with children or are good at a particular subject, you can offer your services as a babysitter or tutor through Care.com. You can make up to $50 per hour, depending on your qualifications.

Side hustles are a great way to make extra money and reach your financial goals.

12. Start a Business

Starting a business is one of the most effective ways to make 1000 dollars a day on a regular basis. However, it requires careful planning and execution to succeed.

The first step is to research the market and identify a profitable business idea and build it to profitability.

Challenges may arise, such as competition, financial setbacks, and marketing difficulties, but with persistence and determination, you can overcome them and achieve financial success.

The potential for significant financial gain from starting a successful business is immense, making it a worthwhile endeavor for anyone willing to put in the effort.

13. Yard Work

Yard work is an excellent way to make $1000 a day, especially if you have some extra time and don’t mind getting dirty.

If you want to get up and running quickly, there is nothing better than a local side hustle to earn extra money such as mowing lawns in your neighborhood.

Mowing lawns is not only a great side hustle for adults but also for teens. For an average size lot, you could expect to make at least $35. If you could line up a few lawns each weekend, you could easily make an extra $1000 each month.

Landscaping, leave pickup, and bush trimming are all simple tasks that you can complete quickly if you have the right equipment. You can choose to set an hourly rate or get paid for the entire job, depending on the task.

You may have to start hiring crews in order to hit $1k a day.

14. AirBnb or VRBO Rentals

Airbnb or VRBO are popular platforms for renting out your property to travelers.

Many successful hosts have earned $1000 or more per day because they have accumulated more than one property.

One tip for success is to garner excellent reviews that people want to come back time and time again.

15. Affiliate Marketing

Affiliate marketing is a lucrative way to make money online and has the potential to earn you $1000 a day.

This works well for influencers who have a reach of thousands of people. Another way is creating a niche website that focuses on a specific product or market segment.

It’s essential to promote products effectively to generate revenue. Successful affiliate marketers have earned six figures or more per year.

16. Flip Products or Retail Arbitrage

Retail arbitrage is a popular business model that can help you make $1,000 per day or more. The premise is simple – buy or find things cheap and resell them for a higher price.

This is a great example of how to flip money.

To be successful, you’ll need to have an eye for the right product and do product research to choose products that will sell.

Here is a list of the most popular items to flip.

17. Pickup Services

Pickup services refer to businesses that provide transportation and delivery services for goods, furniture, or other items. These services are in high demand, especially in urban areas where people are always on the move and need help with moving heavy or bulky items.

Starting a pickup service business requires some equipment, such as a truck or van, and marketing strategies to attract customers.

So, if you are looking for a new side hustle or business opportunity, consider pickup services as a viable option.

18. Casino Gambling

While casino gambling is not a recommended way to make $1000 a day, it is still worth mentioning as a potential option.

However, it is important to note that gambling should always be done responsibly and within one’s means.

If you are considering casino gambling as a way to make quick money, it is essential to understand the most profitable games and their strategies. Here is an ordered list of the best casino games to play to make money:

Blackjack: This game has one of the lowest house edges, making it a popular choice for professional gamblers. The objective of the game is to beat the dealer’s hand without going over 21. The key to winning at blackjack is to use basic strategy, which involves making the mathematically correct decisions based on the dealer’s upcard and your own hand.
Craps: This game has a low house edge and offers a variety of betting options. The objective of the game is to predict the outcome of a roll or series of rolls of the dice. To win at craps, it is essential to understand the different bets and their odds and to follow a betting strategy that suits your playing style.
Baccarat: This game is easy to learn and has a low house edge. The objective of the game is to bet on the hand that will have a total of 9 or closer to 9. The key to winning at baccarat is to understand the different bets and their odds and to follow a betting strategy that suits your playing style.

When playing these games, it is important to practice good bankroll management by setting a budget for yourself and sticking to it. It is also crucial to know when to quit to avoid losing money.

A winning streak can lead to making $1000 a day, but it is important to be cautious and not get carried away.

19. Freelance Graphic Design

Graphic designers create visual concepts using computer software or by hand to communicate ideas that inspire, inform, and captivate consumers. They work on various projects such as branding, marketing materials, website design, and more.

Freelance graphic design is a lucrative option because there is always a demand for graphic design services, and businesses are willing to pay top dollar for high-quality designs.

By building a strong portfolio, staying up-to-date with the latest design trends, and providing excellent service to your clients, you can earn a substantial income as a freelance graphic designer.

20. Make Money Flipping Items

Flea market flipping is a great way to make some extra cash on the side or even turn it into a full-time business. It involves buying items for a low price and reselling them for a profit.

One couple, Rob and Melissa Stephenson, have become full-time flea market flippers and even host their own website, Flea Market Flipper, to help others find success in the venture. They offer several courses to help individuals turn this into a serious side hustle or even a full-time business earning six figures.

Learning from successful flea market flippers like Stephenson’s can be a great way to get started. They have the skills and knowledge to help individuals find valuable items, network, and use social media and photography to their advantage.

21. Photography

Photography is a lucrative career option that has the potential to generate high income or as a side hustle.

There are different types of photography that one can explore to make money, including wedding photography, family photography, real estate photography, and stock photography.

By building a strong portfolio, networking, finding clients, investing in high-quality equipment, and constantly improving your skills, you can become a successful photographer and make a great income. Don’t underestimate your potential in this field.

22. Rental Income

Passive income through rental properties is a great way to generate consistent long-term income. Here are the steps to follow in order to make $1000 a day through rent income:

Find a suitable property: Look for properties that are priced reasonably, require minimal renovations, and are located in areas with high rental demand. You are likely to start making $1000 a month.

However, the earning potential is dependent on the ability to scale multiple properties, keep them occupied, and increase monthly income streams.

Investing in rental properties can be a lucrative and rewarding experience for those willing to put in the effort.

23. Amazon Merch

Amazon Merch is a platform that allows you to create and sell your own merchandise on Amazon. It’s an excellent way to make money because Amazon handles all of the heavy lifting, such as printing, shipping, and customer service.

Using Amazon Merch, you can sell a variety of products from t-shirts to phone cases, and best of all, you don’t need to invest in inventory or equipment.

All you need to do is create the designs.

Successful Amazon Merch sellers include graphic designers, artists, and entrepreneurs who have created unique and appealing designs that resonate with their target audience.

24. Creative Skills like Video Editing

Creative skills can be a valuable asset when it comes to generating income. Video editing is another skill that can be monetized.

With the rise of video content, businesses, and individuals are always in need of skilled video editors. One can offer video editing services for YouTube creators, and businesses, or even edit personal videos for clients.

Freelance platforms like Upwork and Fiverr are great places to find video editing jobs.

25. Fashion Design

Fashion design is one of the most lucrative ways to make money, and it’s an industry that’s always in demand.

Whether you’re interested in starting your own fashion label, working for a fashion house, or becoming a freelance designer, there are plenty of opportunities to make a living in this field.

Marketing yourself is also key to success in fashion design. Use social media platforms like Instagram and Pinterest to showcase your work and build a following.
Networking is also an important part of building a successful career in fashion design. You must stay up-to-date on industry trends, make valuable connections, and potentially land new clients or job opportunities.
Create a website or blog where you can share your designs, offer fashion tips, and connect with potential clients.

Pay attention to industry trends, stay creative and original, and focus on developing your skills and building your brand. Then, there are plenty of opportunities to make a living in this exciting and dynamic industry.

26. Start a Blog

Many people say blogging is dead. But, it’s not.

Starting a blog can be a great way to share your interests, skills, and experiences with others while also creating a new income stream for yourself. The flexibility of blogging allows you to turn your current job or passion into a successful blog.

However, starting a blog can be challenging, and it requires technical knowledge, writing ability, social media skills, and topical expertise.

Once you have started your blog, it’s essential to treat it like a business and monetize your content.

27. Self-Storage Business

Self-storage business is a lucrative venture that involves renting out storage units to customers who need extra space for their belongings. These businesses are in high demand, especially in urban areas where living spaces are often small and cramped.

In fact, the self-storage business is expected to bloom to $64.17 billion by 2026.

Starting a self-storage business can be a profitable venture if done correctly.

28. Invest in Cryptocurrencies

Cryptocurrencies have gained popularity as a potential source of significant income. Bitcoin, Ethereum, and Litecoin are some of the best cryptocurrencies to invest in.

To invest in cryptocurrencies, one must first set up a digital wallet and choose a reputable exchange such as Coinbase or Bitstamp.

It is important to research the market and understand the volatility of cryptocurrency before investing. While the potential for high returns exists, it is important to approach cryptocurrency investing with caution.

29. Invest in Real Estate

Investing in real estate can be a lucrative way of making money.

To make $1000 a day through real estate investing, there are several steps you can take.

First, set aside a few hundred dollars each month to invest in real estate over time.
Second, consider the different types of real estate investments available, such as rental properties, commercial properties, and fix-and-flip properties. Each investment type has its own advantages and disadvantages, so it’s important to research and choose the one that fits your financial goals.
Third, consider investing in real estate investment trusts (REITs) or crowdfunding platforms like Fundrise, which allow you to invest in real estate without purchasing a property.

Remember that investing in real estate carries a degree of risk, so it’s important to do your research and seek advice from successful real estate investors.

30. Make Money on the Internet

Making money online has become a popular option for those looking to earn a substantial income. The internet provides a wealth of opportunities for anyone with an internet connection and a bit of creativity.

You need to learn how to make money online for beginners.

There are so many options today and you never have to leave your house!

When it comes to making $1000 a day online, it’s important to acknowledge that it’s not a quick or easy process. It takes time and effort to build a successful online business or generate significant income through freelance work or other online opportunities.

However, with dedication and hard work, it is possible to achieve your financial goals.

How to make $1,000 really fast?

If you’re in a financial bind and need to make $1,000 quickly, there are several options available to you.

Here are the top ways to make $1,000 a day quickly:

Sell items on eBay or Craigslist: If you have items that you no longer need, consider selling them online. This could include clothes, furniture, or electronics. This is a quick and easy way to make money fast.
Offer freelance services: You can offer services such as tutoring, design work, or writing. If you have a specific skill or talent, you can find customers online who are willing to pay for your services.
Do odd jobs for people in your community: You can offer to mow lawns, rake leaves, or shovel snow for a fee. This is a great way to make money quickly, especially if you live in an area with a lot of homeowners.
Participate in paid focus groups or surveys: This is a great way to make money quickly without leaving your home. Companies are always looking for feedback on their products and services, and they are willing to pay for it.
Rent out a room in your home on Airbnb: If you have a spare room in your home, you can rent it out on Airbnb and make money quickly. This is a great option if you live in a popular tourist destination.
Manage social media accounts: Many businesses need help managing their social media accounts, and they are willing to pay for them. If you have experience with social media, this could be a great way to make money quickly.
Start a blog: If you have a passion for writing or a specific topic, you can start a blog and sell advertising space or products/services to your readers. This takes some time to build up, but it can be a lucrative way to make money in the long run.
Sell handmade crafts or goods online: If you’re crafty, you can make items and sell them online, such as on Etsy. This is a great way to turn your hobby into a money-making opportunity.
Borrow money from friends or family: This is not an ideal option, but if you’re in a bind and need money quickly, consider asking for a loan from someone you trust.
Pawn items for cash: This is a last resort option, but if you have items of value, you can pawn them for cash quickly.

Don’t be afraid to try different methods and see what works best for you.

This is the perfect side hustle if you don’t have much time, experience, or money.

Many earn over $10,000 in a year selling printables on Etsy. Learn how to get started by watching this free workshop.

If you’ve ever wanted to make a full-time income while working from home, you’re in the right place!

This intensive training combines thousands of hours of research, years of experience in growing a virtual assistant business, and the power of a coach who has helped thousands of students launch and grow their own business from scratch.

FAQ

Passive income is a form of earnings that is generated without active involvement.

It is a way to make money while you sleep and can provide financial stability and independence.

This is one of three types of income and the one you want to strive towards building.

Ultimately, the best side hustle for making $1000 a day is one that meets your needs and interests while providing a good return on investment.

Here are several factors to consider before choosing the best option.

Think about your skills, interests, and availability. If you have a full-time job, you may want to consider a side hustle that allows you to work flexible hours.
Next, consider the earning potential of the side hustle you are considering. Some side hustles pay more than others, and you want to choose one that will give you the highest return on investment.
Additionally, consider the start-up costs associated with the side hustle. Some require significant investment, such as buying a car for ride-sharing apps or purchasing an online course.

Most importantly, choose a side hustle that aligns with your passion and expertise. This will make the work more enjoyable and increase your chances of success.

There are many ways to make money from your expertise.

You can start a consulting business, offer services such as coaching or speaking, create and sell information products, or build a following and sell advertising or sponsorships. The possibilities are endless.

What’s important is that you start somewhere and then take action to turn your expertise into cash.

Ready to Make 1000 in a Day?

There are many ways to make money quickly and easily.

The best way to make money fast is to find a way that best suits your skills and interests.

Whether it’s graphic design, content creation, photography, or trading stocks, there are plenty of opportunities to turn your passions into profit. So, start honing your skills and explore the endless possibilities of the gig economy.

Learning how to make quick money in one day is possible. You just need to be determined and disciplined.

So, which method do you choose on how to make $1k a day?

Source: moneybliss.org

Hanover Mortgages

The Refined Mortgage Lending Company & Home Loan Lenders

earnings

Apache is functioning normally

Why the Average Inheritance is Misleading

Average Inheritance By Wealth Level

Next 9%

Next 40%

Bottom 50%

Do You Have to Pay Taxes on Inheritance?

Bottom Line

Estate Planning Tips

Apache is functioning normally

What Is a 401(k) Loan?

Your Employer and a 401(k) Loan

Bottom Line

Retirement Savings Tips

Apache is functioning normally

What Is a 401(k)?

Can You Open a 401(k) Plan Without an Employer?

How Much You Can Contribute to Your Retirement Account

The Bottom Line

Retirement Planning Tips

Apache is functioning normally

Start with Google Flights

Check carriers that don’t appear on third-party sites

Search one-way and round-trip flights

Search one seat at a time

Search alternate airports

Leverage elite status

Use the right credit card

Check first class

Look for coupons and other offers

Buy miles

Reprice, reprice, reprice

Bottom line

Table of Contents

$60000 a Year Is How Much an Hour?

Earnings Disclaimer

How Does 60K a Year Compare?

Is $28.80 a Good Hourly Rate?

Is $60K a Year Worth Your Time?

How to Make More While Working Less?

Obtain a High-Paying Position

Boost Your Earnings with Passive Income

Climb Corporate Ladder

Make Bank with Freelancing

How Does a $60,000 Annual Salary Break Down?

Biweekly Pay Breakdown

Monthly Pay

How Much is $28.80 an Hour Annually?

How Does Vacation Impact My Annual Salary?

Notice

How Much Is $60 000 a Year After Taxes?

State By State $60,000 a Year Salary After Taxes in 2023

What Types of Jobs Pay $60,000 Per Year?

How To Budget $60,000 a Year?

Cut Unnecessary Monthly Expenses

Save for Retirement Early

Avoid High Car Payments

Avoid Credit Card Debt

Sample Budget For Individuals Earning $60,000 Per Year

Final Thoughts on a 60K a Year Salary

Why the Average Inheritance is Misleading

Average Inheritance By Wealth Level

Next 9%

Next 40%

Bottom 50%

Do You Have to Pay Taxes on Inheritance?

Bottom Line

Estate Planning Tips

What Is Simple Interest?

Simple Interest Formula

Example of Simple Interest

What Is Compound Interest?

Example of Compound Interest

More Examples of Compound Interest

What Is Continuous Compounding?

Continuous Compounding Formula

Example of Continuous Compounding

The Limits of Compound Interest

Interest and Investments

The Takeaway

What Is a 401(k) Loan?

Your Employer and a 401(k) Loan

Bottom Line

Retirement Savings Tips

How can a college student make money remotely?

Can I work remotely in college?

The 15 best remote jobs for college students

1. Virtual Assistant

2. Online Tutor

3. Proofreader

4. Social Media Manager

5. Freelance Writer

6. Social media influencer

7. Website or App Tester

8. Video Editing

9. Remote Research Assistant:

10. Audio Transcription

11. Data Entry

12. Virtual Recruiter

13. Blogger

14. Course Creator

15. Stock Trader

16. Customer Service Agents

17. Photography

18. Virtual Internships

Looking for Online Summer Job?

FAQ

Which Online Jobs for College Students Are Interesting To You?

What Is a 401(k)?

Can You Open a 401(k) Plan Without an Employer?

How Much You Can Contribute to Your Retirement Account

The Bottom Line

Retirement Planning Tips