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38k salary is a solid hourly wage; above most minimum hourly wage jobs.
For most people, an entry-level job would be paying just over $38,000 a year. The question that remains is can you make a living off $38k a year.
The median household income is $67,521 in 2020 which decreased by 2.9% from the previous year (source). Think of it as a bell curve with $68K at the top; the median means half of the population makes less than that and half makes more money.
The average income in the U.S. is $48,672 for a 40-hour workweek; that is an increase of 4% from the previous year (source). That means if you take everyone’s income and divided the money out evenly between all of the people.
But, the question remains can you truly live off 38,000 per year in today’s society since it is well below both the average and median household incomes. The question you want to ask all of your friends is $38000 per year a good salary.
In this post, we are going to dive into everything that you need to know about a $38000 salary including hourly pay and a sample budget on how to spend and save your money.
These key facts will help you with money management and learn how much per hour $38k is as well as what you make per month, weekly, and biweekly.
Just like with any paycheck, it seems like money quickly goes out of your account to cover all of your bills and expenses, and you are left with a very small amount remaining. You may be disappointed that you were not able to reach your financial goals and you are left wondering…
Can I make a living on this salary?
$38000 a year is How Much an Hour?
When jumping from an hourly job to a salary for the first time, it is helpful to know how much is 38k a year hourly. That way you can decide whether or not the job is worthwhile for you.
38000 salary / 2080 hours = $18.27 per hour
$38000 a year is $18.27 per hour
Let’s breakdown how that 38000 salary to hourly number is calculated
For our calculations to figure out how much is 38K salary hourly, we used the average five working days of 40 hours a week.
Typically, the average workweek is 40 hours and you can work 52 weeks a year. Take 40 hours times 52 weeks and that equals 2,080 working hours. Then, divide the yearly salary of $38000 by 2,080 working hours and the result is $18.27 per hour.
Just above $18 an hour.
That number is the gross hourly income before taxes, insurance, 401K, or anything else is taken out. Net income is how much you deposit into your bank account.
You must check with your employer on how they plan to pay you. For those on salary, typically companies pay on a monthly, semi-monthly, biweekly, or weekly basis.
What If I Increased My Salary?
Just an interesting note… if you were to increase your annual salary by $5K to $43K per year, it would increase your hourly wage to over $20 an hour – a difference of $2.40 per hour.
To break it down – 43k a year is how much an hour = $20.67
That difference will help you fund your savings account; just remember every dollar adds up.
How Much is $38K salary Per Month?
On average, the monthly amount would be $3,167.
Annual Salary of $38000 ÷ 12 months = $3167 per month
This is how much you make a month if you get paid 38000 a year.
$38k a year is how much a week?
This is a great number to know! How much do I make each week? When I roll out of bed and do my job of $38k salary a year, how much can I expect to make at the end of the week for my effort?
Once again, the assumption is 40 hours worked.
Annual Salary of$38000/52 weeks = $730 per week.
$38000 a year is how much biweekly?
For this calculation, take the average weekly pay of $730 and double it.
This depends on how many hours you work in a day. For this example, we are going to use an eight-hour workday.
8 hours x 52 weeks = 260 working days
Annual Salary of$38000 / 260 working days = $146 per day
If you work a 10 hour day on 208 days throughout the year, you make $182 per day.
$38000 Salary is…
$38000 – Full Time
Total Income
Yearly Salary (52 weeks)
$38,000
Monthly Salary
$3,166
Weekly Wage (40 Hours)
$730
Bi-Weekly Wage (80 Hours)
$1,461
Daily Wage (8 Hours)
$146
Daily Wage (10 Hours)
$168
Hourly Wage
$18.27
Net Estimated Monthly Income
$2,418
Net Estimated Hourly Income
$13.95
**These are assumptions based on simple scenarios.
38k a year is how much an hour after taxes
Income taxes is one of the biggest culprits of reducing your take-home pay as well as FICA and Social Security. This is a true fact across the board with an all salary range up to $142,800.
When you make below the average household income, the amount of taxes taken out hurts your hourly wage.
Every single tax situation is different.
On the basic level, let’s assume a 12% federal tax rate and a 4% state rate. Plus a percentage is taken out for Social Security and Medicare (FICA) of 7.65%.
So, how much an hour is 38000 a year after taxes?
Gross Annual Salary: $38,000
Federal Taxes of 12%: $4,560
State Taxes of 4%: $1,520
Social Security and Medicare of 7.65%: $2,907
$38k Per Year After Taxes is $29,013
This would be your net annual salary after taxes.
To turn that back into an hourly wage, the assumption is working 2,080 hours.
$29013 ÷ 2,080 hours = $13.95 per hour
After estimated taxes and FICA, you are netting $29,013 per year, which is $8,987 per year less than what you expect.
***This is a very high-level example and can vary greatly depending on your personal situation and potential deductions. Therefore, here is a great tool to help you figure out how much your net paycheck would be.***
Taxes Based On Your State
In addition, if you live in a heavily taxed state like California or New York, then you have to pay way more money than somebody that lives in a no tax state like Texas or Florida. This is the debate of HCOL vs LCOL.
Thus, your yearly gross $38000 income can range from $25,973 to $30,533 depending on your state income taxes.
That is why it is important to realize the impact income taxes can have on your take home pay. It is one of those things that you should acknowledge and obviously you need to pay taxes. But, it can also put a huge dent in your ability to live the lifestyle you want on a $38,000 income.
How Much Is 38K A Year Hourly Salary Calculator
More than likely, your salary is not a flat 38k, here is a tool to convert salary to hourly calculator.
Many entry level jobs start at this range, which may make you believe that a business degree is worth it.
38k salary lifestyle
Every person reading this post has a different upbringing and a different belief system about money. Therefore, what would be a lavish lifestyle to one person, maybe a frugal lifestyle to another person. And there’s no wrong or right, it is what works best for you.
One of the biggest factors to consider is your cost of living.
In another post, we detailed the differences of living in an HCOL vs LCOL vs MCOL area. When you live in big cities, trying to maintain your lifestyle of $38,000 a year is going to be extremely difficult because your basic expenses, housing, transportation, food, and clothing are going to be much more expensive than you would find in a lower cost area.
To stretch your dollar further in the high cost of living area, you would have to probably live a very frugal lifestyle and prioritize where you want to spend money and where you do not. Whereas, if you live in a low cost of living area, you can afford the cost of living and maybe save more money. Thus, you have more fun spending left in your account each month.
As we noted earlier in the post, $38,000 a year is well below the average income that you would find in the United States. Thus, you have to be wise with how you spend your money.
What a $38,000 lifestyle will buy you:
If you are debt free and utilize smart money management skills, then you are able to enjoy the lifestyle you want.
You are able to rent in a decent neighborhood in LCOL.
Driving a beater car is normal.
You should be able to meet your basic expenses each and every month.
Not be able to afford many of the fun spending luxuries.
Participate in the 200 envelope challenge.
When A $38,000 Salary Will Hold you Back:
However, if you are riddled with debt or unable to break the paycheck to paycheck cycle, then living off of 38k a year is going to be pretty darn difficult.
There are two factors that will keep holding you back:
You must pay off debt and cut all fun spending and extra expenses.
Break the paycheck to paycheck cycle.
It is possible to get ahead with money!
It just comes with proper money management skills and a desire to have less stress around money. That is a winning combination regardless of your income level.
$38K a year Budget – Example
As always, here at Money Bliss, we focus on covering our basic expenses plus saving and giving first, and then our goal is to eliminate debt. The rest of the money leftover is left for fun spending.
This is how zero based budgeting works.
If you want to know how to manage 38k salary the best, then this is a prime example for you to compare your spending.
You can compare your budget to the ideal household budget percentages.
recommended budget percentages based on $38000 a year salary:
Category
Ideal Percentages
Sample Monthly Budget
Giving
10%
$158
Savings
15-25%
$570
Housing
20-30%
$887
Utilities
4-7%
$127
Groceries
5-12%
$253
Clothing
1-4%
$19
Transportation
4-10%
$127
Medical
5-12%
$158
Life Insurance
1%
$10
Education
1-4%
$10
Personal
2-7%
$29
Recreation / Entertainment
3-8%
$71
Debts
0% – Goal
$0
Government Tax (including Income Tatumx, Social Security & Medicare)
15-25%
$749
Total Gross Monthly Income
$3,167
**In this budget, prioritization was given to basic expenses and no debt.
Is $38,000 a year a Good Salary?
As we stated earlier if you are able to make $38,000 a year, that is a low salary. You are making around or just above minimum wage.
While 38000 is a decent salary just starting out in your working years, it is a salary that you want to rapidly increase before your expenses go up or the people you provide for increase. If not, you will be left working multiple jobs to make ends meet.
However, too many times people get stuck in the lifestyle trap of trying to keep up with the Joneses, and their lifestyle desires get out of hand compared to their salary. And what they thought used to be a great salary actually is not making ends meet at this time.
This $38k salary would be considered a lower class salary. You must make each dollar count in your budget.
Check: Are you in the middle class?
In fact, this income level in the United States has enough buying power to put you in the top 95 percentile globally for per person income (source).
The question you need to ask yourself with your 38k salary is:
Am I maxed at the top of my career?
Is there more income potential?
What obstacles do I face if I want to try to increase my income?
In the future years and with possible inflation, in many modest cities a 38,000 a year is not a good salary because the cost of living is so high, whereas these are some of the cities where you can make a decent living at 38,000 per year.
If you are looking for a career change, you want to find jobs paying at least $50000 a year.
Is 38k a good salary for a Single Person?
Simply put, you can make it work.
You can stretch your salary much further because you are only worried about your own expenses. A single person will spend much less than if you need to provide for someone else.
Your living expenses and ideal budget are much less. Thus, you can live comfortably on $38000 per year.
And… most of us probably regret how much money wasted when we were single. Oh well, lesson learned.
Is 38k a good salary for a family?
Many of the same principles apply above on whether $38000 is a good salary. The main difference with a family, you have more people to provide for than when you are single or have just one other person in your household.
At the 38K salary with a family, you would need more than one income stream to make this possible without government help.
The costs of raising children are high and will steeply cut into your income. As you can tell this is a huge dent in your income, specifically $12,980 annually per child.
That means that amount of money is coming out of the income that you earned.
So, the question really remains is can you provide a good life for your family making $38,000 a year? This is the hardest part because each family has different choices, priorities, and values.
More or less, it comes down to two things:
The location where you live in.
Desire to improve your career and make more money.
Your lifestyle choices.
You will not be able to afford everything on this salary.
Many times when raising a family, it is helpful to have a dual-income household. That way you are able to provide the necessary expenses if both parties were making 38,000 per year, then the combined income for the household would be $76,000. Thus making your combined salary a very good income.
Learn how much money a family of 4 needs in each state.
Can you Live on 38000 Per Year?
As we outlined earlier in the post, $38,000 a year:
$18.27 Per Hour
$146-182 Per Day (depending on length of day worked)
$730 Per Week
$1,461 Per Biweekly
$3,166 Per Month
Next up is making $40,000 a year.
Like anything else in life, you get to decide how to spend, save and give your money.
That is the difference for each person on whether or not you can live a lower-class lifestyle depends on many potential factors. If you live in Washington or New Jersey you are gonna have a tougher time than in Florida or even Texas.
In addition, if you are early in your career, starting out around 32,000 a year, that is a okay place to be getting your career. However, if you have been in your career for over 20 years and still making $38K, then you probably need to look at asking for pay increases, pick up a second job, or find a different career path.
Regardless of the wage that you make, if you are not able to live the lifestyle that you want, then you have to find ways to make it work for you. Everybody has choices to make.
But one of the things that can help you the most is to stick to our ideal household budget percentages to make sure you stay on track.
Learn exactly how much do I make per year…
One of the best ways to improve your personal finance situation is to increase your income. Here are a variety of side hustles that are very lucrative. With time and effort, you can start enjoying the lifestyle you want.
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The Traditional IRA and its offshoots (SEP, SIMPLE, rollover and Roth IRAs) play a leading role in helping millions of U.S. taxpayers invest for retirement. However, many IRA owners are unaware of the opportunity they have to consolidate their multiple IRAs by using a “Super IRA” strategy (most common is a rollover 401k).
An IRA consolidation strategy can lead to reduced fees and increased buying power. I’ve had several instances where an individual has had several old retirement plans from previous employers. That has included defined benefit plans, 401k’s, TSP’s, 403b’s and Keough plans. The paperwork alone was cumbersome, and consolidating has made tremendous sense.
If you like this article, please be sure to also check out 401k Tips: What Not To Do, Rollover IRAs Offer a Wide Range of Benefits, 7 Things To Know About The 2010 Roth IRA Conversion
IRA Consolidation Case Study
The following is a common scenario involving a worker (Patrick) who has changed jobs several times throughout his career. He has been diligent about saving for retirement, but his assets are scattered. An IRA consolidation strategy is suggested, and the section concludes with a three-step action plan for investors like Patrick.
Patrick’s Profile:
Frequent job changer, age 62, is approaching retirement.
He has lost track of his numerous retirement savings arrangements.
He turns to his advisor for help with simplifying his financial affairs.
During his career, Patrick has accumulated various retirement accounts but has lost track of the status of each. He is 62 years old and is thinking of retiring from his current job. He has three retirement plans with former employers [a profit sharing plan, a target benefit plan and a 403(b) plan], four Traditional IRAs, a SIMPLE IRA, two Roth IRAs, an Individual(k) plan he established when he owned his own business, and a Thrift Savings Plan he now has as an employee of the federal government.
He is also the beneficiary of his deceased wife’s nonqualified deferred compensation plan and her Traditional IRA. In an effort to simplify his life, he turns to his financial planner for help. This is a strong case for implementing the “Super IRA” consolidation strategy.
How to implement the Super IRA Consolidation strategy
Step 1: Understand the Rules
A person who owns multiple SEP IRAs and Traditional IRAs can combine them into one “Super IRA” at any time.
If the person also owns a SIMPLE IRA, he or she can transfer or roll it to a “Super IRA” after participating in the SIMPLE IRA plan for at least two years. The two-year period begins when the first SIMPLE IRA plan contribution is made to the individual’s SIMPLE IRA.
A “Super IRA” can receive ongoing SEP plan contributions and annual Traditional IRA contributions.
Ongoing SIMPLE IRA plan contributions must first be contributed to the participant’s SIMPLE IRA. If the individual has participated in the SIMPLE IRA plan for at least two years, he or she can transfer or roll over the SIMPLE IRA into one “Super IRA.” (Note: special rollover rules may apply.)
A “Super IRA” can receive rollovers of eligible assets from all types of qualified retirement plans [e.g., 401(k) plans, profit sharing plans, defined benefit plans, etc.], 403(b) plans, 403(a) plans and governmental 457(b) plans.
A Roth IRA cannot be transferred or rolled over into a “Super IRA.” Multiple Roth IRAs can be combined to create a “Super Roth IRA.” Under the Pension Protection Act of 2006, effective in 2008, participants in qualified plans, 403(b) plans and governmental 457(b) plans can directly roll over eligible plan assets to Roth IRAs if conversion rules are satisfied.
Spouse beneficiaries of qualified plans and SEP, Traditional and SIMPLE IRAs generally can consolidate their inherited accounts into their own “Super IRA.”
Step 2: Consider the Potential Benefits of a “Super IRA” Strategy
Increased buying power, which allows for more sophisticated investment strategies
One fee vs. multiple fees
Simplified investment tracking
Beneficiary organization and consolidation
Consistent service
Streamlined paperwork
Simplified retirement income planning
Step 3: Work With Your Advisor
Investors should work with their advisors to determine whether a “Super IRA” asset consolidation strategy makes sense for them.
In our scenario, Patrick’s planner asks him the following key questions:
Do you have the most recent statements from each of your retirement accounts?
What type of investments do the plans hold?
Are any of your retirement plans invested in employer securities?
Is your goal to consolidate your accounts as much as possible?
How long has it been since you first participated in the SIMPLE IRA plan?
Patrick’s goal is to consolidate as many of his retirement accounts as he can into one “Super IRA.” He obtains copies of his most recent retirement account statements to review with his advisor. He first participated in the SIMPLE IRA plan a year and a half ago. He does not hold employer securities as a plan investment.
After reviewing the statements, Patrick and his planner determine he could combine the following retirement accounts into a “Super IRA”:
Profit sharing plan
Target benefit plan
403(b) plan
Five Traditional IRAs (the four he owns outright and his inherited IRA)
Individual(k) plan
In another six months (two years after first participating in the SIMPLE IRA plan), he could transfer or rollover that balance to his “Super IRA” as well. Patrick cannot combine his two Roth IRAs into his “Super IRA,” although he could consolidate them into one “Super Roth IRA.” And he cannot roll over the nonqualified deferred compensation plan. Although he could combine the plans as outlined above into one “Super IRA,” it would be best for Patrick and his planner to carefully examine the types of investments currently held by the various plans to see if a rollover is the wisest course of action from a taxation standpoint.
For example, special tax rules apply to distributions of employer securities from qualified retirement plans. This would be case of NUA or Net Unrealized Appreciation. Keep in mind, a consolidation strategy may not always be suitable. An advisor, or a tax or legal professional, can help identify the best course of action to incorporate the best investment services.
Have you ever suddenly realized that you’re so busy with work, you don’t actually have any time for yourself, or for friends? Or have you ever found yourself working hard on something that literally nobody seems to enjoy with you? Forgetting to actually live our lives can creep up on any one of us. Maybe you’re working multiple jobs, trying to pay rent and save a little, or maybe you’re deeply entrenched in hustle culture, busy being a boss babe. Whatever it is that you’re doing, here are 13 subtle signs that you or someone you know may not have much of a life.
1. Talking About Other People
Do you know someone who couldn’t just stop talking badly about other people? According to Redditors, these are the people who can’t mind their own business, maybe because they don’t have any interests to manage.
One person said, “My coworkers are like this. The gossip begins even before they’ve clocked in. I’ve stopped talking to them about anything except what’s necessary for work.”
Another one replied, “I learned not to tell a certain coworker anything too personal, because I knew the moment my back was turned he was somehow going to turn it into gossip. Idk how people like that maintain friendships.”
2. Monitoring People’s Computer Time
Monitoring people for how long they have been away from their computers sounded like someone who doesn’t have any other work to do. Redditors said it’s one of the subtle signs that these types of people don’t have a life.
“When we switched from Skype to Teams at work a manager told me they don’t like teams because it’s harder to track the online status of their employees,” one person shared.
“Get yourself a mouse jiggler. I’m ‘Active’ from the moment I wake up until it looks like I’ve done approximately a day’s worth of hours, or sometimes not even that long,” Another one added.
Another commenter replied, “I don’t know why employers require a certain number of hours online. If you’re getting all your work done, that’s the only thing that matters.”
3. Calling the Police on Innocent Kids
One person stated, “This is under the subcategory of ‘Karen’.”
A second person replied, “That happens where I live. People are paranoid about everything these days.”
Finally, the third one added, “It happened here and the cop-calling Karen used the argument that the kids were selling [lemonade] on public property without a permit.”
4. Posting Everything on Social Media
Do you know someone who posts everything that happened to them on social media, including the most personal details? Redditors think it’s a sign that someone doesn’t actually have much of a life.
One person stated, “There’s a word for it: vaguebooking.”
Another person shared, “Double points if they’re vague posts talking about all their haters. Like girl, you are 29 and work in a fast food joint. You don’t have haters.”
Then the third also shared, “I barely ever talk about personal or just real life stuff about me on the internet, why and how do people do this.”
5. Facebook Moms Group
One person shared, “Those Facebook mom groups are the worst! Nothing but drama and bashing on one another. Well at least the one I used to be in.”
Another one replied, “All the humble bragging and my-child -is-better-than-yours comments lol.”
Another added, “Also spreading rumors about teachers, they’re the worst.”
6. Being a “Mean Girl”
“It’s surprising how even at work it feels like high school. Same [drama],” one person stated.
While it’s not entirely wrong, bullies are everywhere, and the workplace is no exception.
“Hate this, hate mean people in general but especially girls who are just mean but pass it was jokes or not meaning it or just being cold. And then expect others to just expect it take it and move on,” another person added.
7. The Go-To Employee for Extra Shifts
Whether you’re just a workaholic or need money so badly, being the guy being offered extra hours makes it sound like you may not have a life outside work.
One person said, “I think that just means you need money.”
The second person replied, “Can be a bit of both for some people. I had a colleague who’d turn up hours early and stay long after his shift was finished just because he seemed to have nothing else going on in his life. I didn’t mind him but he was a generally unpopular member of staff so it wasn’t even welcome hanging out.”
“This reminds me of what a taxi driver once told me: the ones that go to the airport do it specifically because of the long wait times to get a passenger; they have nothing else in their lives going on,” the third also shared.
8. Obsessively Posting Relationship Statuses
One person shared, “One of my high school friends told me that she posts things on Instagram and if they don’t get more than 20 likes she deletes them. That seemed really sad to me, that people continually check their posts and then delete them if they’re not ‘hitting’. I can maybe see it if it’s a celebrity or a business account, but this was just someone with a normal job.”
Another one added, “There’s been studies that show people in healthier relationships tend not to post about their relationships on social media very often.”
“I’ve noticed that. Random public post about how much they love the other person or how amazing their partner is—then a few months later it’s a post they’ve broken up. In a healthy relationship they’d be telling their partner these things, rather than others on social media. I wonder if it’s cognitive dissonance and they’re trying to convince themselves they’re in a happy relationship,” the third replied.
9. Making fun of People’s Hobbies
One person said, “‘HA, playing video games?! Can’t you do anything useful with your life?!’ Yelled condescendingly by people who more often than not spend a majority of their evenings watching television.”
Another one shared, “I hate that. People often make fun of my collection of tax returns, but thanks to the internet I have found many others who share this hobby. It is a real thing.”
Well, whatever it is, making fun of someone’s hobby shouldn’t be encouraged.
10. Bragging about Working Long Hours
In a world where society praises people who work long hours as something positive, it could also say things in your personal life.
One person stated, “My philosophy is that if your job is personally enriching or you’re working for yourself or something like that, I love it. But if you’re salaried and working extra hours just to impress your boss while the only one who gets more dough is him? Ehh.”
Another user replied, “I work in education so most people don’t get OT pay because you have to grade and prep on weekends. But I always tell new teachers, it’s not a flex to say you had to stay up until 4 prepping or you used all weekend to grade. A well-rested, loving-their-own-life teacher is a good teacher.”
A third commenter added, “I used to do this. I had one job full time working the night shift and got a second job part time for fun at Starbucks. I’d do anywhere from 45-70 hours a week total and did 24 hour work days a couple times. I really did have no life then, and I was depressed; I worked so much to avoid feeling anything. It was a sad time in my life.”
11. You Only Talk about your Children
“Tbh, if you work full time and you’re a parent, you probably don’t have much time to do much else outside of that. That is your life,” one person said.
“It’s possible to have a personality outside of being a parent,” the second one replied.
“This is me and it’s so sad. I’m too tired to even play computer games by the end of the day. Going grocery shopping without kids is a treat now. I dread having to socialize because I have nothing interesting to add to any conversation anymore,” the third added.
12. Trying to look Tough on Internet
Another indication is trying to look tough on the internet and arguing with everybody about how tough you are.
One person quoted jokingly, “‘I insulted the other guy and made him look bad, I must’ve won the argument!’”
Another user added, “Yeah this one guy was commenting on my friends insta gym progress pic (friend is a little smaller but working on it). He said he could lift my friend WHILE he was holding weights. I just saw red. You can say whatever you want about me, but if you TALK about my FRIENDS I just see red.”
13. Constantly Wondering about Others
People’s lives aren’t yours to worry about unless that person is close to you and wants the best for them. However, if you’re constantly tracking everyone’s lives and judging them about it, Redditors said that it might be time to get a life.
One person shared, “Very many people have been bothered by the fact that I don’t drink or smoke. Not sure why it riles people up so much.”
Another Redditor added, “Worrying about what other people might be thinking.”
A third also shared, “Omg one of my close friend does this all the time I really like everything about her except this and I hate listening her judge about others all the time.”
Original Reddit thread here.
10 Terrible Movies That Everyone Seems to Love
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Inside: Learn how much your 80k salary is hourly. Plus find tips to make more money and live the lifestyle you want.
Retirement can be a scary word to those who are not wealthy or afraid of having too much time on their hands.
People in the workforce often don’t know what they will do when their retirement comes around, but it doesn’t have to be that way after all.
For most retirees, there are many reasons they want to work after retirement. And that is 100% okay!
Low stress jobs after retirement make for great part-time careers while still providing enough flexibility to enjoy your personal life. Plus a little extra money is always helpful!
While there is no one “right” answer on which job for you, we compiled a list of 30 great options to consider. All of these jobs offer relatively low stress levels and plenty of opportunities for relaxation and enjoyment.
But before you jump on the first one that comes along, you want to consider which will work best and help ease your transition into the world of retirement.
When you retire, you want to find a job that is low stress and enjoyable. That’s why finding a good retirement job is so important!
The benefits of having a low stress job after retirement
After years of hard work, retirement is a time to relax and enjoy life.
However, for some retirees, working part-time or as a side job can provide additional earnings and a sense of purpose. The following jobs are perfect for seniors over 55, or those post-retirement. They have lower stress levels than the average job and offer many opportunities for growth.
Many retirees below starting a second career after retirement would be difficult and are looking for a job that has fewer strings attached. This may be due to the fact that many retirees feel they have reached the pinnacle of their careers and want more time freedom.
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Fortunately, there are many available jobs with increasing demand and most even have lower stress levels than average.
Retirement is a good time to consider additional earnings. This can provide a stream of money for people who want to enjoy life longer and need an additional income. In addition, working can help retirees stay mentally and physically healthy.
Jobs to Do after Retirement
The list is composed of jobs that are perfect for seniors over 55, or even post-retirement. They have lower stress levels than the average job and offer many opportunities for growth.
Some retirees prefer to work part time or as a side job; others want to find a full-time position that will keep them busy and engaged in their community. Whatever your preference, know that there are plenty of great options out there!
Retiring means starting a new life, so it is important to consider this change as the beginning of a new life and not the end of an old one.
So go ahead and take the plunge into retirement! It’s a new beginning full of endless possibilities.
There are plenty of good jobs for retirees!
What are fun jobs after retirement?
There are many fun retirement jobs that pay a small fortune! And what your personality prefers!
Some people choose to continue working in the same field, but in a more relaxed or part-time capacity. Other people choose to use their retirement to try something new and exciting, such as starting their own business, traveling, or taking up a new hobby.
What can I do after retirement to make money?
Now that you’re retired, you may be looking for ways to make some extra money. Luckily, there are plenty of options to make money in retirement available to you!
You could start a business, become a consultant, or tutor students. In addition, you could also look into working from home opportunities or start a blog.
Maybe you want one of the best part time jobs in retirement.
Whatever you choose, make sure you do your research and find something you enjoy so you don’t get bored!
Tips to Making Money in Retirement
The best fun jobs after retirement include working at a theme park, house sitting permanently on a beach or something crazy you never dreamed yourself to do!
One great way to make some money is by selling your skills and experience. For example, interior decorating is a low-stress field that often requires past experience. Alternatively, you could become a real estate agent. Both of these opportunities allow you to use the skills and knowledge you’ve acquired over the years.
Another great option for retirees is to take advantage of the growing gig economy. There are a host of jobs available through online platforms like Uber or Lyft that don’t require a lot of physical activity or travel time. Plus, they typically offer higher pay rates than traditional employment opportunities.
If you’re looking for something a little more relaxing, consider joining one of the many survey sites out there. These sites reward you with a small amount of money for each survey you complete. It may not be much, but it can add up over time!
Finally, if you’re looking for an easy way to make some money, consider something easy like greeting people. This is a great option because it’s so easy and doesn’t require any special skills or knowledge.
Which job is stress free and high paying?
There is no such job that is stress free and high paying. All jobs have their own unique stressors and rewards. It is important to find a job that is rewarding to you and that you find manageable levels of stress.
There are many jobs that are considered “stress free” after retirement.
For example, many seniors are now looking into jobs such as being a consultant or working in customer service. These positions offer a more relaxed work schedule and usually don’t require extensive training.
In addition, the amount of money one earns from a job is directly related to how much work one put into it. If you’re willing to put in the extra effort, you can make significantly more money than those who don’t.
Really Focused on less stress?
Many seniors are also looking for jobs that don’t involve stress or concern. Proofreading is one such position that meets these qualifications. The job requires native-level English proficiency and an excellent understanding of grammar to succeed. In order to be successful in this field, you have to proofread documents that contain no grammatical errors, punctuation mistakes, or syntactic flubs.
You need to find a job that feeds your soul and doesn’t seem like work.
Plus it is fun to tell others what do you do for a living.
Best low stress jobs after retirement
Some people want to use their retirement as a vehicle to start their side hustle and be more relaxed than they were during work hours. This is a great way to spend your retirement! Most cool retirement jobs require little-to-no experience, but some do.
At the end of the day, you must decide if you want to work for yourself and start your own company with a higher earning potential. Or work for someone else with less strings attached and lower pay.
In many cases, you might be stuck working because you didn’t save for retirement, so here are a few jobs that are perfect for seniors over 55 years old, or even after retirement:
1. Freelance writing
Freelance writing can be a good source of income when one has the skills and experience to do so. The best part? You get to set your own hours and take on as much or as little work as you want!
This may not sound like a low-stress job at first, but it’s actually an excellent low-stress job! Being your own boss offers incredible benefits. Best of all, you can do it in a completely stress-free environment by deciding in advance exactly how many hours you want to work.
In fact, my friend over at More Time to Travel does freelance writing for Forbes.
Freelance writing is a great way to make money from home. Be sure to have a strong portfolio and excellent writing skills to land quality freelance writing jobs. Here is a great freelance writing course.
2. Tour guide
This is perfect for someone who loves people and to discuss their worldly knowledge.
A tour guide is someone who accompanies tourists and provides information about the areas they are visiting. They are usually seniors because no special certifications or degrees are required. However, it can be a fun job for anyone who loves meeting people and has a lot of knowledge about their area. Some tour guide jobs offer tips and the opportunity to travel.
A good tour guide will have a deep knowledge of the areas they are touring and will be able to answer any questions the tourists may have. Plus cash tips are always a perk!
3. House Sitter
You can house sit for someone you know, or use a site like Mind My House to find paying gigs. Rates vary depending on the city, but typically you can expect to earn $25-50/day as a house sitter.
It allows you to live in new places without having to commit to long-term leases, and it gives you an opportunity to meet new people and explore new neighborhoods. Plus, it’s a great way to make some extra money on the side as well as lowering your monthly expenses!
If this is something you are seriously considering, then check out this book to learn how to housesit from an expert.
4. Librarian
Librarians are responsible for organizing and managing library collections, helping patrons find information and materials, and providing instruction on how to use library resources. They typically work regular hours in a library setting, and their work is relatively active.
They also need excellent research skills and the ability to stay up-to-date on new technologies.
However, job prospects are good to work in this quiet environment.
5. Customer Service Representative
Jobs in customer service usually don’t require a lot of experience or special training, so they can be a great way to ease into retirement. And since most customer service positions are in the service industry, you’ll likely get to meet new people and help them solve problems every day.
They may work in call centers, retail stores, banks, or insurance companies. In some cases, they may also work remotely from their homes. Customer service reps typically need strong communication and problem-solving skills, as well as the ability to stay calm under pressure.
6. Craft seller
Many people don’t have time for their crafts like they wanted when working full-time and raising kids. So, retirement is a perfect time to become an artisans who make and sell their own products.
You can set your own hours, work from home and sell whatever you like. There are many online marketplaces that cater to craft sellers, so you can find a platform that fits your style and interests. In addition, you can attend craft fairs and other events to sell their work in person.
Make sure to price your items competitively and take the time to create an attractive product listing. Plus ship quickly and provide excellent customer service to keep buyers coming back for more!
7. Crossing Guard
It only requires a few hours of work per day, and the pay is decent around $15 an hour.
The job does not require any special skills or training, so it is an ideal way to spend your golden years. Plus you can keep youthful by staying around all of the school-aged children.
8. Blogging
This is a form of expression for most retirees or those thinking about retiring.
It can be a low stress job after retirement, as you can do it from the comfort of your own home and set your own schedule. You don’t need any special qualifications or training to start blogging – all you need is a computer, an internet connection, and something to write about.
Blogging is a great way to create fresh, new content on a regular basis for your website. In fact, my friend over at Tuppennys Fireplace uses blogging to drive extra money to their retirement budget each month.
You can sell advertising space on your blog, use affiliate marketing to promote products and services, or even launch your own product or service. The sky’s the limit when it comes to making money from blogging – so if you have something interesting to say, go for it!
9. Elder Care Services
Services can range from in-home help to full-time nursing care, and each has its own benefits and drawbacks.
While this may seem odd as a low stress job in retirement, it is a good reminder that you are still youthful in others’ eyes.
These may be simple jobs such as picking up groceries, light cleaning, cooking meals, or companionship during the day. Given the cost of nursing homes and certified nursing assistance, this is an affordable option for families who want extra eyes on their loved ones.
10. Private Island Caretaker
Okay, this is the one I want!
If you are reading this and need a caretaker, I am happy to be the right person for your estate.
A lot of caretaker jobs are in private areas, such as private islands, ski resorts, large estates, and other remote or private areas. This is often because employers need someone they can trust to be on-site full time and take care of things.1) Private Island Caretaker
Caretaker jobs are a great way for retirees to stay engaged and active in their golden years. They can provide a sense of purpose and routine, as well as an opportunity to explore new places and meet new people.
11. Docent or Usher
One low-stress job that retirees can consider is becoming an usher at their local theater or sporting area. This job does not require much training and typically pays minimum wage, but it can be a great way to meet people and see new shows and watch sports.
A docent is someone who has expert knowledge about a certain subject and can teach people about it through guided tours and lectures. They are often found in museums, art galleries, and other places where people can learn about the arts.
For many retirees, these are the perfect jobs to get paid for enjoying their hobbies and events they didn’t have time to see when working full-time.
12. Work at Disney
Jobs at Disney parks can be both fun and challenging, with plenty of opportunities to make new friends and help guests have a great time. You’ll need to be able to work hard and stay cheerful under pressure, but the rewards are many.
If you’re interested in working at one of the happiest places on earth, visit the Walt Disney Company website to learn more about current openings and how to apply.
Perfect for the retiree to stay youthful!
13. Invest in Various Intiatvies through Crowdfunding
When it comes to investments, there are many options to choose from that can fit any personality type.
Crowdfunding was created to help more people invest in various businesses by pooling resources together. This makes it more affordable and less risky for everyone involved.
For many retirees, this is a great way to impact start-up businesses and maybe even have a great ROI on their money.
14. Tutoring
Tutoring can help students learn in a one-on-one environment, and help them to focus on the material. Tutoring can also help build a student’s confidence, and help them to ask questions they may be too embarrassed to ask in a classroom setting.
It’s a great way to help students who are struggling and give them the support they need to succeed. You also get the satisfaction of knowing that you’re helping young people achieve their goals. Tutoring can be done in person or online, so it’s a flexible job that you can fit around your schedule.
In today’s society, there are plenty of opportunities to help students achieve faster with tutoring. Most tutors are paid at least $30 an hour.
15. Virtual assistant
There are many low stress jobs that can be found online and Virtual Assistants are one of those jobs.
A virtual assistant is a professional who provides administrative, technical, or creative assistance to clients from a remote location. Often, virtual assistants work for multiple clients simultaneously, providing a wide range of services including social media management, email management, bookkeeping, and more.
They provide a service to their client through the internet and This is a great way for someone with retirement to start making money fast because most VAs make between $35 and $50 an hour.
Take free training for becoming a virtual assistant!
16. Personal shopper
A personal shopper may work in a store, helping customers find what they need, or they may work remotely for a customer who gives them a list of items to purchase. Either way, personal shoppers usually charge by the hour.
It also pays well, especially if you work for a high-end retailer. And since you’re working with customers one-on-one, this is a great job for someone who enjoys helping others. Perfect for a retiree to get out and about.
17. Personal organizer
They may work with individuals or groups, in both business and personal settings. Personal organizers usually have excellent time management skills, as well as a thorough understanding of the principles of organization.
This type of position is great to keep you moving as well as help others.
18. Animal shelter worker
They may feed, groom, and exercise the animals, as well as administer medication and vaccinations. They also clean cages and kennels, and may handle adoptions. The work can be physically demanding, but it is also very rewarding to help homeless animals find new homes.
For someone who loves animals, this is a perfect opportunity to make money and help neglected animals.
19. Book store assistant
The work is relatively easy, and there are usually no major deadlines to worry about. Plus, bookstores are typically quiet and calming environments, which can be a nice break from the hustle and bustle of everyday life.
If you’re looking for a relaxed job after retirement, this could be it!
20. Photographer
Some people take up photography as a hobby, some as an art form, and some as a profession. The beauty of photography is that it can be whatever you want it to be. There are so many different types of photography, based on your taste and choice you can choose which area to focus on first.
In addition, photography is a great low stress job after retirement!
It can be done freelance to supplement your income or on a full-time basis. There are many opportunities for photographers, and the work is generally enjoyable.
21. Life coach
After retirement, there are many low stress jobs that a person can take on. One such option is becoming a life coach.
This job involves helping people work through their problems and achieve their goals.
By becoming a mentor for the next generation, you are able to have a lasting impact and legacy. This allows you to share your wisdom and knowledge while also helping someone else in their career path.
As a life coach, it’s important to be a good listener and have strong communication skills. Additionally, new graduates might be able to offer you fresh perspectives on life that you may not have considered before. It’s easy to become a mentor to coworkers or people in your field; all it takes is some time and effort.
22. Consultant
Consulting is a broad term used to describe an area of work. It encompasses a wide range of activities and can be done by anyone with the appropriate skills and experience.
Many retirees choose to focus on the areas they enjoyed at work and avoid stressful parts, becoming consultants in those fields.
Often, retirees are a great resource for companies looking for short-term or project-based work. If you let your network know that you are available for consulting opportunities, they may be more likely to reach out to you when they have a need. Additionally, the average consultant salary is between $50 and $150 per hour, depending on experience level.
23. Walmart Greeter
Greeters welcome customers, help them find what they need, and provide general information about the store. They may also monitor security cameras and alarms in the store. The position requires little training, and most Walmart greeters are given on-the-job training.
However, greeters must be able to handle stress well, as they are often the first point of contact for customers who are angry or upset. The position also requires being able to work weekends and holidays.
24. Dog walker
Dog walking is a great job for people who love dogs and want to make a difference in the lives of animals. It is also perfect for retirees who want to stay busy and have flexible hours. The work can be enjoyable and rewarding, and it is a low-stress profession.
Dog walkers are typically paid by how many dogs they are watching at any given time, rather than by the hour. There are specific websites where you can find work as a dog walker like Rover and the average pay is $14 an hour.
25. Pet sitter
A pet sitter is a professional who is hired to take care of pets while their owners are away. Pet sitters typically visit the home of the pet owner to feed, water, and exercise the pet. They may also provide additional services such as grooming and medication administration.
For example, many retirees enjoy pet sitting because it allows them to form close relationships with animals while also providing a service to their community.
Find plenty of pet sitting gigs on Rover.
26. Camp Host
After retirement, many people are looking for a low stress job that will allow them to travel, get outside, and see new places. Campground jobs are perfect for this because you can work during the day and explore at night.
Camp hosts are people who work at a campground to provide information and assistance to guests.
Campsites allow for some flexibility in terms of location – you may be able to choose the state or national park you’d like to work in, as well as the dates of your stay. Additionally, many camp hosts have a good deal of control over their schedules, which can be a perk.
They usually work for minimum wage, but can often receive tips from guests.
27. Adjunct Professor
Many retirees take on part-time work as adjunct professors. The position offers a high level of flexibility, good pay, and opportunities for professional development. In addition, adjunct professors often have the opportunity to work with students from diverse backgrounds and help them grow academically.
This can be a great way to share your knowledge and expertise with the next generation of students. Contact your local college and see if they have any openings. Adjunct professors typically earn around $3,000 per class taught.
28. Author
Becoming an author can be a great way to enjoy your retirement years while still earning some extra money on the side. The job doesn’t involve a lot of pressure, and you get to set your own deadlines.
There are a few different ways to get your book published. One option is to work with an agent. However, this may not always be possible, especially if you are writing a non-fiction book. Another option is to self-publish your book. This can be a great way to get your book out there without having to go through a publishing house.
You will finally have time to tell your story from your perspective.
29. Focus group participant
Focus groups are gatherings of people who are brought together to discuss a certain topic. The participants can range from 6 to 12 people, and they are typically held in local hotels or conference centers. During the focus group, the participants will discuss upcoming products, services, trends, and issues.
Focus group participants are typically reimbursed for their time and participation in the discussion. This can be done in a variety of ways but is usually either through cash or gift cards.
30. Furniture flipper
Furniture flipping is a great business for those who want to make some extra money with little stress and no formal education needed. You can do it from the comfort of your own home, as long as you have the necessary tools and space. With a bit of hard work, you could be on your way to making some serious cash.
Furniture flippers are people who buy furniture at a low price and resell it for a profit. They usually start as furniture buyers who love hunting for deals at garage sales or estate auctions. This is a low-stress job that’s also profitable.
For many retirees, it may have been a hobby turned profitable.
31. Delivery driver
Delivery driver is a great job for retirees because it keeps them active and socially engaged. It can be difficult to sit at home all day, so this job is perfect for those who want to be out in the world meeting new people.
Delivering food is a great way to make some extra money in your spare time. It’s a low-stress job because you’re only out of the car for deliveries, and many companies offer drivers up to $20 per hour.
I love Doordash because their sign-up process is so easy–you can be up and running in minutes!
32. Rideshare driver
Ridesharing is a great way for seniors to make some extra money on the side while still having plenty of time for themselves. It’s very flexible, so they can work as much or as little as they want, and it doesn’t require them to take too much time out of their day.
Both Uber and Lyft require relatively little startup capital, and retirees can often make money driving for these companies.
Just make sure you have the proper auto insurance for ridesharing.
33. Taxi Driver
Taxis are in high demand in most cities, so there is always work to be found. In addition, the hours are flexible, so drivers can work as much or as little as they want.
And since driving a taxi is not very demanding physically, it is a good job for those who are no longer able to do strenuous work.
Many people who move to a foreign country find being a taxi driver a highly rewarding and lucrative way to make money.
34. School Bus Driver
There is a severe shortage of school bus drivers across the country.
This may not be a low stress job to many, but you can have a long lasting impact on the students. Right now, our students need positive influences in their lives.
What does the job entail? You must have a valid commercial driver’s license (or find someone who will provide the training) and be clear from moving violations in the last 3 years. In addition, you must pass a background check to work with students.
Many districts are desperate for school bus drivers and providing a signing bonus.
35. Chat moderator
Chat moderators are responsible for monitoring chat rooms and helping to ensure that the conversation remains on topic and respectful. They also work to resolve any disputes that may arise.
They work in a variety of settings, from social media to online gaming platforms.
But for the most part, the job is relatively low-stress, thanks to the ability to take breaks and work flexible hours. Chat moderators also often have the opportunity to learn new technologies and hone their customer service skills.
36. Babysitter & Nanny
Babysitting and nannying is a great way to make some extra money in your spare time. It’s perfect for people who love kids and have a few hours in the afternoon after school lets out. You can help out your neighbors by babysitting their kids or finding families near you who are looking for a nanny.
They offer a lot of flexibility, they’re relatively low stress, and they often come with a set schedule so you know what you’re doing each week. Plus, you can usually work from home, which is a big perk if you want to stay active in your golden years.
The average babysitter in the United States earns a bit less than $15 per hour, but some earn at least $20 an hour. It is easy to find work.
37. Event Staff
Event planning can be a very stressful job, but it can also be a very rewarding one. After retirement, many people look for a flexible job that they can do mostly on the weekends and in the evening. Event staff is a great option for those people.
They may work in a variety of industries, including entertainment, hospitality, marketing or nonprofit organizations.
Event staff often have to wear many hats during an event, handling duties such as coordinating with vendors, setting up event spaces, managing attendees, and serving as liaisons between organizers and other staffers.
This may not be the situation for everyone, but great for someone who likes to be in the action.
38. Research Assistant
After retirement, many people feel lost and without a sense of purpose. A research assistant helps others find information and discover problems to solve. They work with teams or individuals to locate the best information possible and help them use it effectively.
Research assistants are in high demand because they help other people find information and solve problems. They work on a variety of tasks, such as conducting research, organizing data, and writing reports. Their skills are in high demand by companies, governments, and individuals who need help conducting research.
The job is relatively low stress and pays between $18 and $22 per hour. It requires patience, communication skills, and a range of computer skills.
39. Substitute Teacher
A substitute teacher is someone who fills in for a permanent teacher when they are absent. This can be for a variety of reasons, such as paid vacation, maternity leave, or sick leave. It is a great option for retirees because it is one of the most respected and low-stress jobs after retirement.
This is one of the best retirement jobs because you can substitute teach any position within a school.
Substitute teaching can be extremely rewarding, as you are able to help students in need and fill in for teachers who are absent. You may also have the opportunity to work with different age groups and learn new things.
It is now possible to earn around $20 per hour on average as a substitute teacher. In order to become a substitute teacher, you need to have a bachelor’s degree in any academic discipline from an accredited college or university. With the right qualifications, you can enjoy a great deal of flexibility and earning potential while working with children.
40. Airbnb Host
You can earn up to $1,000 per month by listing your home on the site.
It’s also a low-stress job since you don’t have to worry about meeting deadlines or dealing with customers. And, since you’re working from home, you can easily take care of any last-minute changes or emergencies.
If you’re interested in becoming an Airbnb host, check out this guide on how to get started.
41. Proofreading
In this career, you would be reading documents or manuscripts and looking for mistakes in grammar, spelling, punctuation, and syntax. You would then mark the errors with a correction symbol and provide a note to the author about the mistake. Proofreading can be done independently or as part of a team.
It is also important to be able to meet deadlines because many publishers require that manuscripts be returned within a certain timeframe.
42. Park Ranger
They enforce park rules, help visitors enjoy their visit, and provide information about the areas they patrol. Park rangers may also conduct educational programs, research projects, and archaeological surveys.
The growing popularity of outdoor recreational activities will lead to more demand for these workers.
Rangers must be able to hike long distances in difficult terrain, often carrying heavy equipment. They also may need to work extended hours, including weekends and holidays, during peak visitor seasons.
43. Voiceover artist
Voiceover artists are people who provide the voice for a character or commercial. They must be able to understand and interpret the script, and then deliver the lines in a way that sounds natural and believable.
Voiceover artists are in high demand for their unique ability to provide a voice for various multimedia productions that requires no formal training. This work can be done from anywhere with a good internet connection, making it an ideal job for retirees or those with flexible hours.
44. Real Estate Agent
The work is often exciting, and you can set your own hours. However, it can also be demanding and require long hours during busy times.
They must be knowledgeable about the current market conditions and have strong negotiating skills. In order to succeed in this career, you’ll need to be able to work well independently and be comfortable networking with potential clients.
You’ll also need to develop a strong marketing strategy to attract new clients.
45. Sports Coach
They may also instruct athletes on the rules and regulations of a sport. Sports coaches typically have a college degree in physical education, kinesiology, or a related field.
Coaches often work long hours during the season and must be able to handle criticism from players and parents. However, for those who love sports and enjoy working with people, sports coaching can be an enjoyable and low-stress job after retirement.
46. Artist
Being an artist is a great job to have after retirement because it doesn’t require a lot of stress and you’re free to create whatever you like. The only requirement for the job is that you have some artistic ability, which most people do.
Working as an artist can be perfect for people who are looking to have more flexibility with their hours and want to work on the go. There are many different types of artist jobs that one can find, and the best way to find out what’s available is to do some research online or talk to other artists in your area.
47. Translator
Translation is a great option for those who want to use their second or third language skills in a professional setting.
Many retirees find themselves with time on their hands after retirement and may enjoy doing something that they are good at and can be successful at. Speaking another language can lead to many opportunities, including working as a translator or in a translation services company, or becoming a consultant in foreign affairs.
Translators must be able to understand the source material fully and then accurately convert it into the target language.
48. Interior decorator
Interior decorators are in high demand because they have an eye for design and can help people make their homes look beautiful. This is a low-stress career choice that allows retirees to work anywhere, which is why it is becoming increasingly popular.
Interior decorators are often retirees who have a wealth of knowledge and experience in interior design. They must build up a portfolio of their clients’ homes before they can become an interior designer and be able to charge more for their services.
Interior decorating is a creative line of work that can earn great money, and it’s often a side hustle for people who want to make more money while still having free time. Satisfying customers is another perk of this career!
49. Handyman Services
If you’re looking for a way to make some money after retirement, and enjoy doing hands-on home repair projects, consider working as a handyman. Handyman work can be done on your own schedule, so it’s a great option if you want more flexibility in your life.
Handyman services are becoming more popular because they allow you to set your own rates and work on your own schedule.
This is beneficial for both the worker and the customer, as it allows the worker to charge a fair price for their services and customers can get work done on their time. Additionally, handymen have a variety of skills and can fix many problems around the home, which makes them a valuable asset.
50. Professional cuddler
Cuddling has become a popular service in recent years. Companies like Cuddle Comfort offer professional cuddlers that will come to your house and provide you with a compassionate, understanding listening ear as well as some quality cuddle time.
Some people make a living from professional cuddling. These cuddlers can earn approximately $40 per hour for just being themselves and giving bear hugs. This is a growing industry with many people finding comfort and satisfaction in human touch.
51. Mediator
To become a mediator, you need to have either legal training or a bachelor’s degree in mediation. This gives you the skills needed to mediate and resolve disputes between two or more parties. Mediators usually have a low-stress job because of their flexibility and freedom to work from anywhere.
Mediators come from a variety of professional backgrounds, but the majority have some form of legal background. More than half of certified mediators work as general mediators, charging $100 to $250 per hour.
52. Data entry specialist
A data entry specialist is somebody who enters data into a computer system. This can be a very low stress job, especially if you have basic computer skills and typing speed and accuracy. The work is relatively easy to find and usually does not require any specific qualifications.
Data entry specialists are paid a modest wage for their work, but the pay is reliable and predictable. The job is also relatively easy to find, making it a great option for people who are looking for additional work during retirement or in their spare time.
Being able to type quickly and accurately in order to be successful in this role.
53. Waiter/ Waitress
If you have a gift of gab and service, then this might be the perfect industry for you. Especially as a bar back!
The work hours are flexible, the tips are usually good, and you get to meet new people all the time. Plus this type of job is fun, as it’s not high-stress and it allows someone who just retired or wants a job with flexible hours to stay active socially while they make money.
If you’re looking for an alternative after retirement, waiter or waitress work is definitely a good option.
54. Cook
Many families are looking for healthy options for dinner. What is better than a home-cooked meal?
While working as a cook for a restaurant, you may often work long hours in a hot, noisy kitchen. However, cooking for local families on a small scale may be the perfect scenario.
55. Become a Transcriber
Transcription is a great way to make some money after retirement. You can typically make around $18-$25/hour, depending on your skill level and experience.
The work is relatively low stress, so it’s a great option for those looking for a relaxing way to make some extra income.
56. Retirement planner
Some retirement planners offer training and certification for their employees. The employer might pay for your training and certificate if they feel confident enough in hiring you as an employee after seeing how well you do these tasks.
This may not be the ideal situation for many, but it pays well.
57. Flip Items
Flipping items for profit is a great way to make some extra cash. You can find deals at garage sales and online, and then turn around and sell them for more.
Be sure to look out for scams, however, as there are many people who try to take advantage of those looking to flip items.
To learn how to flip for a side hustle, check out Flea Market Flippers.
58. Professional Volunteer
Charity work is a great way to give back to the community and help those in need. There are many charities that need help, and by donating your time or money, you can make a big difference in someone’s life.
It can also be a great way to ease into retirement. Many charities are always in need of volunteers, and you can often find opportunities that fit your schedule. You may also be able to find paid positions with certain charities.
You will have the opportunity to help others and make a real difference in their lives. You may also find new friendships and learn new skills.
It keeps you social and busy, and it lets you help out in your community. Plus, many organizations offer volunteer opportunities tailored to retirees’ skills and interests.
In fact, many volunteer opportunities turn into paid jobs.
How to find a job that is low stress and matches your skills?
Which best jobs for retirees do you want?
When you’re looking for a job that is low stress and matches your skills, it’s important to consider a variety of factors. For example, employers want employees who can work independently and are well-organized. They also want employees who can communicate clearly. You should have a basic understanding of the job duties as well.
If you have specific skills, you may not need these things as much.
However, employers still want employees who can complete tasks without any help from others. There are a variety of ways to find out about such jobs, including using search engines or social media sites like Facebook and LinkedIn.
Also, whoever says you have to wait for retirement?? Find low-stress jobs that pay well without a degree now.
It’s also important to be aware of the pay structure. Often, employers want employees who will be able to work for them on a long-term basis. The pay structure is often predictable and employers know exactly how much work there will be available for each project. This makes it easier for both parties involved.
One way to find a job that is low stress and matches your skills is by using online platforms like Upwork, Freelancer, and Fiverr. These platforms offer many data entry jobs that are perfect for those looking for an easy way to make some money after retirement. In order to take advantage of these jobs, you’ll have to learn how to type fast.
Know someone else that needs this, too? Then, please share!!
As Christians, we are called to be good stewards over the money and wealth with which God has provided to us.
So before we consider investing in stocks, we must find out if it is within God’s will!
Is investing in stocks a God-honoring way to grow our finances, or is it really being careless with God’s money?
What Is Investing In Stocks?
What Investing Is Not
Investing is not the same as gambling! This is actually where a lot of Christians develop a fear of the stock market. Most people who make this assumption do so either out of fear or ignorance. Some are fearful of investing because it seems so complicated, so they assume that no one can understand it and so everyone must be gambling! Others just don’t understand the mechanics of investing, or how much information is available to the common investor. It is beyond the scope of this article to catalog all of the ways in which investing is not gambling. Visit here to learn if the trading websites are legal and licensed.
True investing is not a “get rich quick scheme”. The bible is full of warnings about rushing to make money without any effort such as Proverbs 21:5
The plans of the diligent lead surely to advantage, but everyone who is hasty comes surely to poverty.
However, the concept of investing is not about throwing your money after something that you don’t really understand, hastily and without a real plan.
What Investing Is
The basic idea of investing in stocks is this: To participate in and benefit from the growth and earnings of a particular company, through purchasing shares of ownership. When someone has extra money and they want to look for legal ways to make that money grow, that is considered investing. The stock market gives individuals the unique opportunity to profit off of the growth and ingenuity of some of the world’s largest companies!
Does Investing In Stocks Show A Lack Of Faith In God?
Now that we have taken a very brief look at what investing is and isn’t, we now must consider whether someone who invests is demonstrating a lack of faith. Matthew 10:5-11:1 is a common passage that is brought up whenever discussing planning for the future, and trusting in God. This is where Jesus sends out his 12 Apostles to preach His word, heal the sick, and perform various miracles throughout Israel.
He gives them instructions on where to go, what to do, and dangers to look out for (and even uses this time to talk about future things). However it is Jesus’ instructions on what items to take along for the journey, that we want to take a look at now…Matthew 10:9-10 says:
Do not acquire gold, or silver, or copper for your money belts, or a bag for your journey, or even two coats, or sandals, or a staff; for the worker is worthy of his support.
As we see here, Christ was teaching them to trust in the Lord for all provision and care. This would be experienced through the kindness of those to whom they ministered in these various towns. They were not to take extra materials with them (planning for their future need), because God would work things out so that they would have all that they need!
This should be a great encouragement to us as believers because we know that God is able to provide for us no matter what our current situation may be.
However, there is something that we need to take notice of when considering this passage. First, Jesus’ words to the apostles were specific for this journey. We can see that from looking at His words to these same men in Luke 22:35-36
And He said to them, When I sent you out without money belt and bag and sandals, you did not lack anything, did you?” They said, “No, nothing”. And He said to them, “But now, whoever has a money belt is to take it along, likewise also a bag, and whoever has no sword is to sell his coat and buy one”.
He is now telling them to use normal means to provide for themselves (storing and planing for the future, buying, selling, etc), rather than just to go out with the bare minimum and count on God’s providence in a more pronounced way (as in the Matthew 10 passage).
This passage in Luke 22 is describing Jesus Christ’s last words to his disciples before he was crucified. He was giving them instructions on how to carry out God’s mission for them after His death. Therefore, it is clear that God was not condemning the concepts of investing, saving, and preparing for the future in Matthew 10, because he then instructs the disciples to make these concepts a part of their lives at the end of His earthly ministry.
So based on a proper understanding of God’s intention when sending the apostles out to preach, we can see that the ideas of investing and faith do not contradict one another.
Another idea that is often brought up is that of God’s general promise of provision negates the need to invest or plan for the future. In Matthew 6:25-33 we find these words:
25 “Therefore I tell you, do not worry about your life, what you will eat or drink; or about your body, what you will wear. Is not life more than food, and the body more than clothes? 26 Look at the birds of the air; they do not sow or reap or store away in barns, and yet your heavenly Father feeds them. Are you not much more valuable than they? 27 Can any one of you by worrying add a single hour to your life?
28 “And why do you worry about clothes? See how the flowers of the field grow. They do not labor or spin. 29 Yet I tell you that not even Solomon in all his splendor was dressed like one of these. 30 If that is how God clothes the grass of the field, which is here today and tomorrow is thrown into the fire, will he not much more clothe you—you of little faith? 31 So do not worry, saying, ‘What shall we eat?’ or ‘What shall we drink?’ or ‘What shall we wear?’ 32 For the pagans run after all these things, and your heavenly Father knows that you need them. 33 But seek first his kingdom and his righteousness, and all these things will be given to you as well.
Matthew 6:25-33
…But we urge you, brethren, to excel still more, and to make it your ambition to lead a quiet life and attend to your own business and work with your hands, just as we commanded you, so that you will behave properly toward outsiders and not be in any need.
1 Thessalonians 4:10b-12
For even when we were with you, we used to give you this order: if anyone is not willing to work, then he is not to eat, either. For we hear that some among you are leading an undisciplined life, doing no work at all, but acting like busybodies. Now such persons we command and exhort in the Lord Jesus Christ to work in quiet fashion and eat their own bread.
2 Thessalonians 3:10-12
As we can see, God’s normal way of provision is to line up your abilities with someone who is willing to pay for those abilities, so you can work to support yourself. The ideas of God sustaining us and our human efforts go hand in hand. However, we must be certain to look to God not even Solomon in all his glory clothed himself like one of these.
30″But if God so clothes the grass of the field, which is alive today and tomorrow is thrown into the furnace, will He not much more clothe you? You of little faith! 31″Do not worry then, saying, ‘What will we eat?’ or ‘What will we drink?’ or ‘What will we wear for clothing?’ 32″For the Gentiles eagerly seek all these things; for your heavenly Father knows that you need all these things. 33 “But seek first His kingdom and His righteousness, and all these things will be added to you.
As you can see, Jesus tells his followers not to worry since God will provide the basic necessities of life – if He does it for birds and flowers, He will surely do it for His children (those who seek after His kingdom)! However, this passage does not promote a sinful life of laziness, where we just sit around and pray and read the Bible, and food, money, shelter, and all of our other needs will just fall from the sky. Even the birds have to work to build nests, find food and care for their young, but ultimately, it is God who provides for them all.
God’s provision means a lot more than just raining down the things that we need without us doing any work for them. God oftentimes will provide for us by giving us the ability to earn money – for at all times for His sovereign will to be done in our lives!
Of course, there are more things that can be said about how those common verses that are used to teach that investing and planning for the future is equal to lacking faith in God, don’t teach that at all. However, I think that we’ve seen enough from God’s word to make that clear. Let’s move on to the main question at hand.
What Does The Bible Say About Saving And Investing?
The bible actually has quite a bit to say about investing for the future, but I just want to look at one main example and then give a few verses as well. Let’s take a look at the “Parable of the Talents” to see what God has to say about investing:
14″For it is just like a man about to go on a journey, who called his own slaves and entrusted his possessions to them. 15″To one he gave five talents, to another, two, and to another, one, each according to his own ability; and he went on his journey. 16″Immediately the one who had received the five talents went and traded with them, and gained five more talents. 17″In the same manner the one who had received the two talents gained two more.
18″But he who received the one talent went away, and dug a hole in the ground and hid his master’s money. 19″Now after a long time the master of those slaves came and settled accounts with them. 20″The one who had received the five talents came up and brought five more talents, saying, ‘Master, you entrusted five talents to me. See, I have gained five more talents.’ 21″His master said to him, ‘Well done, good and faithful slave You were faithful with a few things, I will put you in charge of many things; enter into the joy of your master.’
22″Also the one who had received the two talents came up and said, ‘Master, you entrusted two talents to me. See, I have gained two more talents.’ 23″His master said to him, ‘Well done, good and faithful slave. You were faithful with a few things, I will put you in charge of many things; enter into the joy of your master.’ 24″And the one also who had received the one talent came up and said, ‘Master, I knew you to be a hard man, reaping where you did not sow and gathering where you scattered no seed. 25’And I was afraid, and went away and hid your talent in the ground. See, you have what is yours.’
26″But his master answered and said to him, ‘You wicked, lazy slave, you knew that I reap where I did not sow and gather where I scattered no seed. 27’Then you ought to have put my money in the bank, and on my arrival I would have received my money back with interest. 28’Therefore take away the talent from him, and give it to the one who has the ten talents.’
29″For to everyone who has, more shall be given, and he will have an abundance; but from the one who does not have, even what he does have shall be taken away. 30″Throw out the worthless slave into the outer darkness; in that place there will be weeping and gnashing of teeth. ~ Matthew 25:14-30
I believe this to be the clearest picture of investing what God has given us in order to bear fruit for His kingdom. The fact that Jesus actually uses money to illustrate this point, should be a clear indication that God has no problem with Christians who take the money that God has given us responsibility over, and wisely invests it! In fact, he expects it!
To be clear, this passage goes way beyond money and points to whatever talents and spiritual gifts we have. The point is that God expects us to use what He gives us, and it is, therefore, a sin to bury them in the ground and fail to use it. Because of our economic system, money is the thing that we use in order to sustain ourselves. In times of surplus, we are to give abundantly and invest and save for the future, so that in times of lack, we will have provision stored up for us!
This was true in Egypt when God led Joseph to plan to save 20% of the harvest for 7 years in preparation of the devastating famine (Genesis 41:33-36). We can also see it in the rebuke of the lazy man in Proverbs 6:6-11:
6 Go to the ant, O sluggard, Observe her ways and be wise, 7 Which, having no chief, officer or ruler, 8 Prepares her food in the summer and gathers her provision in the harvest. 9 How long will you lie down, O sluggard? When will you arise from your sleep? 10 “A little sleep, a little slumber, A little folding of the hands to rest”– 11 Your poverty will come in like a vagabond, and your need like an armed man.
Here are a few more verses about saving and planning & investing for the future:
Proverbs 10:5 – He who gathers in summer is a son who acts wisely, but he who sleeps in harvest is a son who acts shamefully.
Proverbs 21:5 – The plans of the diligent lead surely to advantage, but everyone who is hasty comes surely to poverty.
Proverbs 24:27 – Prepare your work outside and make it ready for yourself in the field; Afterwards, then, build your house.
Luke 14:28-30 – For which one of you, when he has laid a foundation and is not able to finish, all who observe it begin to ridicule him, saying, ‘This man began to build and was not able to finish.’
1 Chronicles 22:5 – David said, “My son Solomon is young and inexperienced, and the house that is to be built for the Lord shall be exceedingly magnificent, famous and glorious throughout all lands. Therefore now I will make preparation for it.” So David made ample preparations before his death.
As you can see, God has a lot to say about planning and investing for the future.
Reader Questions:
Why do you think the bible speaks about finances and planning for the future so often?
Do you allow God’s word to impact your investing decisions?
Investing requires resolve and a long-term vision, but it doesn’t actually have to involve the stock market. Here’s a guide to non-stock investing options:
Precious Metals
During the Great Recession, precious metal commodities like gold and silver were all the rage. As the stock market lost more than 50 percent of its value, gold and silver started a monumental rise in price. Gold went from around $600 per ounce in 2007 to peak at $1,900 per ounce in 2011.
The prices of the most popular commodities have since fallen from their peak; but had you invested in precious metals for that period of time (and others like it in history), you would have netted a healthy profit for your portfolio.
Relying solely on precious metals for your portfolio is extremely risky, though, and I wouldn’t suggest it. However, commodities do tend to act in an opposite manner to the stock market, and using precious metals as a hedge against volatility can be a great strategy.
Related >> Beginners’ Guide to Investing
Peer-to-Peer Lending
Peer-to-peer lending is one of my favorite alternative investments. It is the ultimate win-win for consumers. Consumer “A” gets a loan from Consumer “B” (and typically a large group of other investing consumers). Then Consumer A gets to pay off high-interest-rate credit card debt that stands at 20 percent with a personal loan that has a fixed term and a fixed interest rate of, say, 10 percent. This also means a fixed payment each month.
For their part, Consumer B and his friends get to enjoy a much higher rate of return than they would be able to reach with cash sitting in the bank. Both sides win: The borrower gets a lower rate and a fixed term to pay off the loan while the lender enjoys a healthy rate of return.
It’s true that some see peer-to-peer lending as a risky asset class because you are relying on strangers to pay the loan back. As with any type of investing, you don’t want to put all your eggs into one basket. Diversifying your portfolio of loans helps tremendously when you do experience a loan that goes unpaid. (Plus, P2P websites like Lending Club and Prosper have collection methods that kick in on borrowers who miss payments.)
I’ve become so enamored with peer-to-peer lending that I decided to embark on a little experiment. I divvied up about half of my Solo 401(k )contribution into both Lending Club and Prosper. The goal of the experiment was two-fold:
See how much interest I could make with this investment strategy.
Compare the two companies to see which one provided better earnings.
Overall, I was pleased with the results. Both companies netted double-digit returns for me, and I plan to add more money into these investments.
Owning a Business
Hands down, I think the alternative investment with the highest potential rate of return is running your own business. This isn’t without risk — the vast majority of small businesses die within five years — but if you can outlast the statistics, it can be extremely rewarding.
I used to work for a company providing financial advisory services. I took a huge leap of faith, started a business, and started blogging. My financial planning business has thrived and my blog has earned well over six figures since I started.
The beautiful thing about running a small business is not only are you the boss, but you can grow and maintain it as much as you want. Maybe you love your full-time job but you want to try out a new skill. Spend your nights and weekends trying it out, earn some extra dough, and keep working full time. Even a little side income can make a huge difference in your financial life, and when you don’t have time to maintain it, then slow down and focus on other priorities.
Related >> Best side jobs for extra cash
Real Estate
If you’re interested in…
-significant cash flow
-leveraging other people’s money
-enjoying large tax write-offs
…then real estate can be a great choice.
Let me be clear so I don’t sound like a late-night infomercial: Real estate investing is difficult. The learning curve is significant. When you first start, you *are* putting all of your eggs in one basket because you will only have one property to rent out or flip. A previous GRS writer shared his experience of rushing into real estate investing.
Many people have lost their shirts trying to get rich with real estate. Even Dave Ramsey went bankrupt based on a series of really poor real estate investments at the start of his career.
Amid all the horror stories about crazy tenants, poor cash flow, and something always breaking, there is some significant income to be had from real estate investing. What’s better is you don’t have to put 100 percent down on a house. You can usually get away with 25 percent to 35 percent as a down payment and let the bank fund the rest of the purchase. This leverage means you can leave more money in reserve for the inevitable issues that pop up or to expand into a larger number of properties faster.
Bonds
Nearing retirement? You’ll want to cut back on your stock allocation and put some of those funds into bonds. You might associate bonds with the stock market because they are so commonly paired with stocks in a portfolio, but technically bonds are traded on the bond market. You won’t generate sky-high returns here, but you will also cut out a majority of the volatility you get from stocks. Very few bond investments have lost 50 percent of their value for two years and then returned 100 percent the next four years.
Related >> Investing 101: How Bonds Work
Investing in individual bonds carries more risk because they are not diversified. If the company that issues the bond goes under, you might not get your principal investment back. However, bond ETFs and mutual funds can provide the non-stock exposure of bonds with the added benefit of diversification.
Certificates of Deposit
The lowly certificate of deposit or CD. Simple. Basic. Low return.
And sometimes. . . just what the doctor ordered.
A CD is a simple financial product where you hand over some cash to a bank or credit union for a set period of time and a set interest rate. If you have less than $250,000 in total assets at that bank or credit union — across *all* accounts — your investment principal is guaranteed by the FDIC. You literally cannot lose the principal balance if you use this method.
The upside of CDs is stability and guarantee. The downside is, at least right now, inflation will be eating away at your principal balance. Certificate of deposit rates are extremely low due to the Federal Reserve’s monetary policies but if rock-solid security is your number one investment driver, this is worth a look.
Related >> Best CD Rates
Annuities
Ewww. . . annuities. Don’t all personal finance bloggers hate annuities?
Listen, I get it. Annuities CAN be bad. Terrible, in fact. Fees, confusing contract terms, and an encyclopedia of fine print.
Most people don’t realize there are several types of annuities: fixed, immediate, variable, equity-indexed, and several more.
Hear me out. The right annuity with the right, sensible, un-scammy terms can be a solid foundation for a retirement portfolio.
In fact, Mike Piper, a previous GRS contributor, shared how you can create retirement income by purchasing the right annuity.
But like any investment, buy with caution. And be wary of commission-hungry, shady advisers just looking to make a sale vs. matching you with an investment that works toward your financial goals.
Yourself
Last but certainly not least, investing in yourself can pay dramatic dividends. I have personally done this in a variety of ways. Besides getting my CFP certification — certified financial planner — another major investment I made in myself was signing up for a coaching program.
I can’t blame you if you’re skeptical about coaching programs. I was too. It’s been more than three years since I signed up for The Strategic Coaching program and it has literally been the best investment I ever made. The mentoring has allowed me to grow my business significantly, and the return on what I paid has been tremendous. It makes a 9 percent return in the stock market look like nothing.
In all, when you think of investing, you don’t have to immediately think of bull or bear markets or even markets at all. There are other avenues to explore. Let us know what’s working for you in the comments section below.
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.
A business degree can open up doors to many different career paths and can give you the skills you need to be successful in the world of business. However, not all business degrees are created equal. There are a variety of different business degrees available, and each one has its own strengths and weaknesses.
A business administration degree gives you a general introduction to the business world and teaches you the basic skills you need to be successful in the workplace. In addition, it provides a foundation for further study in specific areas of business such as accounting or marketing.
The value of a business degree depends on a variety of factors, including what you hope to gain from the degree, your field of study, and your career goals. However, there are some things to consider when making this decision.
According to PayScale, the average ROI for a business degree is about $1 million. This number takes into account both the cost of getting a business degree and the increased earnings potential that graduates typically experience.
While many jobs require at least some level of post-secondary education, not all jobs require or even prefer candidates with a business degree specifically.
In this article, we will highlight everything you need to make a decisive decision for you.
Why a Business Degree?
There are many reasons to get a business degree.
For starters, they offer great flexibility and come with an abundance of valuable career resources. Additionally, business degrees can lead to even more opportunities in the business world.
Finally, it’s important to note that getting a business degree is very profitable and attractive.
Is a business degree worth it?
There is no one-size-fits-all answer to this question.
A business degree can be an excellent investment if you are looking to start or grow a business or are interested in finance, accounting, human resources, or marketing.
Finally, think about the cost of tuition and other associated expenses.
What Can You Do with a Business Management Degree?
Business management degrees can prepare students for a variety of careers in the business world.
Some possible careers include:
Business analyst
Accountant
Human resources manager
Event planner
Marketing manager
Operations manager
Financial analyst
Business owner
A business management degree can open up a variety of doors for you! You can go into many different industries and have a number of career options available to you.
Business management degrees provide opportunities in growing fields like finance and marketing. In addition, business and financial operations occupations are projected to grow on a national level more than other careers.
This means that if you have a business management degree… You will be entering an occupation that is expected to have continued growth in the future.
Types of business degrees
First, consider what type of business degree you want.
There are three options:
Bachelor of Business Administration (BBA): This is a general degree that provides students with a broad knowledge of business. It includes subjects like management, accounting, economics, and marketing. Perfect for those who want managerial positions or start their own company.
Bachelor of Arts in Business Administration (BABA): This degree consists of business subjects along with humanities and social science courses. This type of degree may be a good option if you want to pursue an international career.
Bachelor of Science in Business Administration (BSBA): This type of degree has a strong analytical and math-oriented focus. It’s excellent for careers like financial analysis.
Once you have decided on the type of business degree you want, consider your field of expertise.
Do you want to work in finance? Marketing? Human resources?
Each field requires specific skills and knowledge. So, make sure the degree you choose will provide you with the necessary training. This would be your minor (area of expertise).
Just remember… Each different types of business degree offer students a variety of opportunities. Thus, can help students develop the skills they need for success in the workplace.
Getting A Business Degree
So why should you consider getting a business degree? First and foremost, they offer great flexibility in careers.
Additionally, most programs come with access to a wealth of career resources that can help you land your dream job after graduation.
And finally, having a business degree is highly profitable and attractive in the current job market.
Whether you’re just starting out in your career or looking to advance further, getting a business degree is an excellent choice.
They provide students with valuable skills for entry-level positions that are highly sought after by employers. Plus, an accredited program will likely lead not only to an invigorating educational experience but also to a job that meets your needs and drives your passions
Is Business a Good Major?
There are associate’s degrees, undergraduate degrees, and graduate degrees in business administration available at schools across the country. Which one is right for you? That depends on your goals and what you want to study.
If you’re not sure what you want to study, or if you want to explore your options before making a decision, consider an associate’s degree in business administration first. This type of degree can give you a basic understanding of the field. Then, it can help you decide if you want to continue your education or go into the workforce directly.
If you already know that you want to study business administration at the undergraduate level, then look for a school that offers a broad range of courses in this area. So, you can gain exposure to as many different aspects of the field as possible.
If you’re interested in pursuing a career in business administration but want to take your education one step further, consider a graduate degree in business administration. This type of degree can prepare you for management-level positions and help you stand out from the competition.
Pros of getting a business degree
A business degree can give you many advantages in your career!
Help you advance in your career.
Give you the skills you need to start your own business.
Teach you how to manage a company effectively.
Help you develop marketing and sales skills.
Pursing a business degree may lead to a rewarding educational experience! As well as a career that meets your needs and drives your passions.
In addition, there are plenty of accredited colleges and universities that offer online business degrees. These choices are often convenient and affordable.
Pro #1 – Versatility of a business degree
A business administration degree program can provide a diverse range of career options and prepares students for success in any industry.
Business administration courses are foundational for a variety of careers.
Core coursework in areas such as:
Finance
Accounting
Marketing
Management
These areas of study teach students how to think critically and make sound decisions in a variety of business scenarios.
In addition, many programs offer specializations or concentrations in specific fields such as:
Entrepreneurship
Human resources
Information technology
Thus, allowing students to focus their studies on an area that interests them.
Business graduates are well-prepared to take on a variety of roles within organizations. Plus can usually find jobs with good pay and benefits.
And because the skills learned in business school are applicable in so many different settings, graduates typically have multiple career options available to them if they decide to change jobs or careers down the road.
Pro #2 – Advancement Opportunities
Employers respect and value a business degree from a well-respected school, which can open doors to advancement opportunities.
With a business degree, you can move up the corporate ladder more quickly or start your own successful company.
In addition, a business degree gives an individual the ability to understand the latest changes in the business world and understanding of new strategies, insights, and ideas that can improve a company’s performance.
Business degrees are necessary for individuals who want to stay ahead of the curve in their industry.
If being successful in your field is important, then getting a business degree is essential. Additionally, new opportunities are presented to you.
Pro #3 – Higher Salary
A business degree can lead to a higher salary than an undergraduate degree for the same job.
The impact of your salary depends on a number of factors, including your school, the chosen field, your position, and your past experience.
Many business administration graduates specialize in a discipline, which leads to different salaries for those same careers depending on the discipline.
For example, if you are making a $45k salary a year, then a business degree might help you increase to $60k a year.
Pro #4 – Career resources and networking opportunities
To make the most of a business degree program, consider taking advantage of your school’s unique resources, including career centers and alumni networks.
Then, you are able to use their resources to open the door to a variety of job opportunities.
The career resources will help you find internships and jobs. While the networking opportunities will help you connect with professionals in your field.
Business management degrees can also benefit from extra-curricular activities like clubs and networking events.
Pro #5 – Transferable skills
Business is present in nearly every modern industry. That means degree holders have the option to apply their business degree to just about any area of industry.
Thus, provides skills that are in high demand in the workforce, such as critical thinking, problem-solving, decision making, communication, and leadership skills.
Professionals with a business degree have many options for employment and provide a competitive edge in the job market.
Cons of Getting a Business Degree
A college degree is still the gold standard for obtaining good employment. However, it is no longer the only way to achieve success.
Though there are many benefits to getting a business degree, there are also some potential drawbacks you should consider before making your decision.
Con #1 – Cost of the degree
One such drawback is the cost of tuition and other associated expenses.
The average tuition for an in-state student at a public university is $10,388 per year, and the average tuition for a private university is $38.185 per year (source). That doesn’t include room and board, books, supplies, or other fees. If you’re attending school out-of-state or out of the country, your costs will be even higher.
You can apply for scholarships and grants, take out loans, or work part-time while you’re in school. But no matter how you pay for it, the cost of a business degree is significant.
Con #2 – The job market doesn’t have enough jobs
Getting a business degree isn’t always the best option for career advancement.
There are disadvantages to getting a business degree, such as lower unemployment rates and higher wages compared to other occupations.
Even though a bachelor’s degree in business is required for many jobs in the industry. If you’re interested in pursuing this path, it’s important to make sure you choose a program that will prepare you well.
Con #3 – Certifications are better
Certifications can also help you learn new skills and stay up-to-date on the latest trends in your industry. This comes without the time and money needed for a degree in management.
In fact, both Microsoft and Google have stated that certification for hiring for jobs is more important than a college degree (source).
For example, getting certified in specific areas can help you become an expert in a particular field and make you more marketable to employers.
While both can lead to a variety of career opportunities, you must decipher which is best for your situation.
Con #4 – You don’t need a business degree to work in business
A business degree is not always necessary to work in a corporate setting.
While getting a business degree can help you learn about the inner workings of businesses and how to run them effectively, you can also learn the same skills with hands-on job experience.
In fact, many people who work in business don’t have any formal education in it at all. There are a number of things you can do to gain the skills you need to work in the business without getting a formal degree.
Con #5 – Not Needed to Start Your Own Business
Most importantly, a business degree may not be the best route for you if you want to start your own business.
A business degree won’t give you all the skills and knowledge you need to succeed as a small business owner.
Many times, the best lessons are taught through hard work and perseverance.
Con #6 – Not Truly Prepared for Career Path
Another potential downside to getting a business degree is that not all degrees offer the same level of preparation for specific careers.
So, it’s essential to do your research and choose a program that will give you the skills you need to pursue your desired career path.
Con #7 – Time Consuming
Finally, getting a business degree can be time-consuming and require significant dedication. So make sure you’re ready for the challenge before embarking on this journey!
How to decide if getting a business degree is worth it for you?
There are a few things you should consider when making this decision:
What industry do you want to work in?
What is the job market like for business degrees?
Will you be able to get scholarships or grants?
What are the salaries for business degree holders?
What are the opportunities for advancement for business degree holders?
Will you be able to work while your degree?
What are the costs of getting a business degree?
It is important to remember that business degrees are not just useful for starting a company! They can also lead to lucrative careers in other fields such as finance or law.
So if you’re still undecided on whether or not getting a business degree is worth it for you, consider all of the possibilities!
Tips to Ask Yourself Before Enrolling in Business School
A business degree can be expensive, but it may offer opportunities for career growth and earning potential that outweighs the initial investment. You must weigh the pros and cons carefully before making a final decision
When making the best decision for you, there are many factors to consider, such as time commitment, cost, and potential return on investment.
Tip #1 – Consider your goals and objectives.
What do you hope to gain from a business degree? Are you looking for career advancement opportunities, or do you want to learn more about business fundamentals? Knowing what you want out of a business degree will help you narrow down your options.
Tip #2 – Do your research.
There are many different types of business degrees available. So be sure to compare programs and find one that fits your needs and interests.
In addition, you must consider if an accredited online college or university offers a program that meets your needs.
You need to research the university’s accreditation status so you can know what that means for you when looking for work after graduation.
Finally, think about what you want to do with your degree. Find a program that will give you the skills and experiences needed for your desired career field.
Tip #3 – Ask around.
Talk to friends, family, and colleagues who have pursued a business degree. They may have valuable insights that can help inform your decision.
Do you regret getting a business degree?
Personally, I do regret getting my undergraduate degree in marketing.
I don’t think that was the best field of study for me. Plus my college at the time refused to teach social media marketing, which was brand new and my degree was quickly outdated without the proper skills.
The college experience was absolutely amazing and I grew as a human being. But, I truly believe there was a better degree for me to start out with.
However, if you were looking for a business degree with a focus such as finance, accounting, or computer information, I think those are more highly specialized to off a better benefit.
What Business careers look appealing to You?
A business degree can help you move into a different career field and earn more money.
In addition, a business degree can build a solid foundation of skills and knowledge for you to build your own business. However, there are many other ways to learn about business, so it is important to research the different options and find the best one for you.
There are many different types of business degrees available. As such, it can be difficult to decide which one is right for you.
This decision is not the same for everyone as we all have our own upbringing and experiences. Every single person you ask will tell you something different and whether their business degree was worth it to them.
Business education can be expensive, but there are many resources available to help you finance your education. There are also many benefits to earning a business degree, so weigh all the factors and make the decision that’s best for you.
Know someone else that needs this, too? Then, please share!!
The average person probably wants to learn how to get rich.
While many think figuring how to get rich may be impossible, I’m here to tell you that it isn’t. And no, you don’t need to win the lottery or become a professional athlete.
The meaning of wealth and being rich means something different to everyone. For some, it means having lots of money, for others it may mean having a positive net worth, and for others it may be to retire one day.
Whatever your definition of “rich” is, everyone has the potential to build and improve their financial situation.
If you want to be rich one day, then you’ll have to form good financial habits now, work hard, and reach outside of the norm.
Learning how to get rich won’t be easy – but what good things come easy anyways?
For many people, learning how to get rich may seem impossible and completely unattainable, but that’s simply not true.
Building wealth and learning how to get rich is about your mindset, and figuring out how to get rich now is better than waiting any longer.
Related posts about how to get rich:
Here’s how to get rich– for anyone and at any age.
Don’t wait until tomorrow to learn how to get rich.
Instead of thinking that you’re invincible and that you have all the time in the world to improve your finances, you should stop procrastinating and learn how to build your wealth now.
Many people push things off and/or spend their money carelessly because they think they can start tomorrow, start next month, and so on. However, for everyday that you push off improving your finances the further away and harder you’ll have to work towards your goal.
Stop wasting time and take control of your financial situation now.
Related tip: I recommend looking into Digit if you want to trick yourself into saving more money. Digit is a service that looks at your spending and transfers money to a savings account for you. Digit makes everything easy so that you can start saving money with very little effort.
Be better than average if you want to learn how to get rich.
If you want to build your wealth, whatever that might mean to you, then you’re going to have to go outside the norm, be better than the average, and do new things.
When learning how to get rich, you should always strive to do your best as sometimes “average” is not good enough for you to build wealth. Keep in mind that the average person is not the greatest with money, and many are wrecked with stress and hardship due to their unfortunate financial situation.
68% of people live paycheck to paycheck.
26% have no emergency savings.
The median amount saved for retirement is less than $60,000.
The average household has $7,283 in credit card debt.
The average student loan debt is $32,264.
To be better than average, you’ll have to work hard, learn how to manage your money better, and perhaps take some risks (such as starting a business or applying for your dream job) as well.
Give yourself great goals.
Those who set goals are much more likely to be successful than those who do not. Due to that, if you want to be rich, you’ll want to start setting goals for yourself.
Setting goals is important because without a goal, how do you know where you’re heading? Goals can keep you motivated and striving for your best.
When building your wealth, you should always make sure that any goal you set is SMART.
A SMART goal is:
Specific – What is your goal? Is it specific enough or is it too broad? What needs to be done for you to achieve your goal? Why do you want to reach your goal?
Measurable – How can you measure your progress? How will you know if you’re on track?
Attainable – Is this a goal that can be achieved?
Realistic/relevant – Can you achieve your goal? Is the goal worth it?
Time – What’s your time frame for reaching your goal?
To reach your financial goals and learn how to get rich, you’ll want to:
Write down your goals and objectives.
Create a plan to reach your life goals.
Break your goal apart into smaller goals.
Keep track of your goal setting progress and make changes (if needed).
Find small ways to stick to your goal.
Find ways to motivate yourself when setting goals.
Make reaching your goal a friendly competition.
Read further at The Best Way To Set Goals And Reach Success in 2017.
Create a realistic budget.
To learn how to get rich, you’ll want to create a budget. Yes, even the rich have budgets!
The average person has a lot of financial stress and may be dealing with student loans, credit card debt, a mortgage, car loans, and sometimes even other forms of debt.
However, not many people have a budget. In fact, more than 60% of households in the U.S. do not have a budget.
Budgets are great, because they keep you mindful of your income and expenses. With a monthly budget, you will know exactly how much you can spend in a category each month, how much you have to work with, what spending areas need to be evaluated, among other things.
Remember, even those with high incomes have a budget. The rich stay rich because they have learned how to manage their money better than the average person, which includes being aware of your spending and saving.
When creating your budget, be sure to include all of your income and expenses.
Here are some expenses you may want to include when creating a budget, but don’t forget any expenses you have that aren’t listed:
Home – House payment, rent, maintenance, utilities, insurance, property taxes, etc.
Car – Monthly car payment, gas, maintenance, insurance, license plate fees, and so on.
Television, cable, Netflix, Hulu, etc.
Cell phone.
Internet.
Food – Groceries, restaurant spending, snacks, etc.
Clothing.
Entertainment – Entertainment can include many things, such as going to the movies, going out for drinks, concert tickets, sports, and so on.
Charity – If you regularly donate to charity, then this should be an area you budget for.
Savings funds – This can be for your retirement fund, wedding, travel, etc.
Taxes – If you are self-employed, then taxes may consist of a large part of your budget.
Health insurance.
Miscellaneous – Pet expenses, fees, childcare, school, gifts, etc.
You can get a free budget printable by signing up below.
Realize that a good life can be affordable.
As you all know, I really dislike the myth that people who save money are boring. That’s not true at all.
I believe that you can balance living a good life along with saving a comfortable amount of money.
There are plenty of ways to live an awesome life while saving money. Yes, you can still see your friends, have fun with your loved ones, go on vacations, and more, all while staying on a realistic budget.
Here’s a list of some great early retirees who are leading great lives. I definitely recommend reading about them:
If you want to learn how to get rich, then learning how to be happy with yourself and figuring out affordable ways to enjoy life are key.
Related: How To Become Rich – It’s More Than Millions In The Bank
Pay off your debt if you want to learn how to get rich.
If you want to learn how to get rich, then you’ll most likely want to figure out how to eliminate any debt that is preventing you from reaching your financial goals. For the average person, this probably means any high interest debt, any debt that’s causing you stress, and so on.
Paying off your debt can lessen your stress levels, allow you to have more money to put towards something else (such as retirement), stop paying interest fees, and more.
The first step to eliminating debt is to realize why you have debt in the first place. I believe that if you don’t understand where your problem with debt stems from, then it would be hard to make a positive change.
Yes, it is great to just start attacking your debt, but you also don’t want to fall into the same cycle of going into debt over and over again.
After you realize why you are in debt (or why you keep going back into debt), the next step is to figure out how you will eliminate it. There are many different ways to attack your debt, and I prefer a mixture of everything.
To pay off your debt and learn how to get rich, you should:
Quit adding more debt to your life. You may want to cancel or freeze your credit card, think harder before your next purchase, and avoid spending temptations like the mall.
Be realistic with your income and spending. If you have debt, then you either have an income or spending problem. You may need to start earning more money and/or start spending less if you want to learn how to become wealthy.
Decrease your spending and expenses. Depending on how quickly you want to get rid of your debt, there are different things that you may want to cut out. You could cut out Starbucks (I know, I know), lower your restaurant spending, find a cheaper way to workout, sell your car for something cheaper/more affordable, cook from scratch, and so on.
Make more money. The extra money that you earn can be put towards your debt to help you pay it off more quickly.
Pay more than the minimum. If you have debt, you should always be paying more than the minimum so that you can lower the amount you are paying towards interest.
Put little amounts toward your debt. For example, whenever you get an extra $25 (such as by selling something), then you should just throw that extra money (that you won’t even miss!) towards your debt.
Related: How To Take A 10 Day Trip To Hawaii For $22.40 – Flights & Accommodations Included
Start investing as one of the ways to get rich.
One of the best ways to figure out how to get rich is to start investing. After all, you need to have your money work for you!
The sooner you start saving, the more it becomes a habit and the easier it becomes. By investing money now, you will learn good investing habits that will help you well into the future.
I always say that the first thing you need to do if you want to start investing is to just jump in. However, what if you don’t even know how to start investing?
If you are like many out there, you may not know how to start investing your money.
Investing your money can be a scary, stressful, and overwhelming topic to tackle. You want to invest so that you can:
Retire one day.
Prepare for unexpected events in the future.
Allow your money to grow over time.
Learn how to get rich.
Remember, time is on your side, and due to the powerful impact of compound interest it can change your life. This means the sooner you invest, the more you will earn.
Compound interest is when your interest is earning interest. This can turn the amount of money you have saved into a much larger amount years later.
This is important to note because $100 today will not be worth $100 in the future if you just let it sit under a mattress or in a checking account. However, if you invest, then you can actually turn your $100 into something more. When you invest, your money is working for you and hopefully earning you income.
For example: If you put $1,000 into a retirement account that has an annual 8% return, 40 years later that would turn into $21,724. If you started with that same $1,000 and put an extra $1,000 in it for the next 40 years at an annual 8% return, that would then turn into $301,505. If you started with $10,000 and put an extra $10,000 in it for the next 40 years at an annual 8% return, that would then turn into $3,015,055.
A great article that explains the power of compound interest is Mr. Money Mustache’s The Shockingly Simple Math Behind Early Retirement.
Here are the easy steps to take so that you can start investing your money:
Start saving your money. In order to invest your money, you need to start setting aside money specifically for it. The amount of money you save for investing is entirely up to you, but in general, the more the better.
Do your research. Before you start dumping your money into the stock market and other investments, it’s a good idea to know what you’re putting your money towards. Reading about various investment-related tips and research will help you become more informed about your investing decisions, which will then help you make better decisions well into the future.
Find an online brokerage or someone to manage your investments. There are two main ways to invest your money. You can either invest your money yourself through a brokerage or you can find someone to manage your investment portfolio for you. You will need to take part in one of these options to actually start investing your money. Personally, I like to do everything myself through Vanguard.
Decide how you will invest. Now that you’ve opened an investment account, you will want to decide where you will put your investments. How you invest depends on your risk tolerance, the time period for which you are investing (when will you retire?), and more. Generally, the sooner you need your funds the less risk you will take on, whereas the longer your time period is, then the more risk you may be willing to take on.
Track your investment portfolio. The next step when learning how to get rich by investing is to regularly track the things you have invested in. This is important because you may eventually have to change what you are invested in, put more money towards your investments, and so on.
Continue the steps above over and over again. To invest for years and years to come, you will want to continue the steps above over and over again. Now that you know the steps it takes to invest your money, it only gets easier.
Related tip: I recommend using Motif Investing if you are looking to invest your money. Motif Investing allows individuals to invest affordably. This approachable investing platform makes it easy to buy a portfolio of up to 30 stocks, bonds or ETFs for just $9.95 total commission.
Start making more money.
Figuring out how to get rich usually means that you’ll have to find ways to make more money than you currently do.
On Making Sense of Cents, I talk a lot about how to make extra income because I believe that earning extra income can completely change your life. You can stop living paycheck to paycheck, you can pay off your debt, and more- all by learning about the many different ways to make money.
Trust me when I say that making more money is important. I was able to pay off $38,000 in student loans within 7 months, I was able to leave my day job in order to pursue my passion, travel full-time, and more!
The great thing about finding ways to make more money is that your income potential is unlimited. There’s no cap on how much money you can make- it all depends on what you decide to do and how much time you plan on devoting to it.
Making more money can change your life in great ways, such as:
You can pay off your debt.
Save for big purchases, such as a vacation.
Stop living paycheck to paycheck.
Reach retirement sooner.
Become more diversified with your income sources.
Whether you have just one free hour a day or if you are willing to work 40 to 50 hours a week on top of your full-time job, there are many options when it comes to earning more money. Finding ways to make more money will only help you as you learn how to become rich.
Some ways to make more money include:
Find a part-time job.
Make money online such as creating a blog, becoming a virtual assistant, etc.
Become an Uber or Lyft driver – Spending your spare time driving others around can be a great money maker. Read more about this in my post How To Become An Uber Or Lyft Driver. Click here to join Uber and start making money ASAP.
Maintain and clean yards. You can make money by mowing lawns, killing/removing weeds, cleaning gutters, raking leaves, and so on.
Answer surveys. Survey companies I recommend include Swagbucks, Survey Junkie, Clear Voice Surveys, VIP Voice, Pinecone Research, Opinion Outpost, Survey Spot, and Harris Poll Online. They’re free to join and free to use! You get paid to answer surveys and to test products. It’s best to sign up for as many as you can as that way you can receive the most surveys and make the most money.
Move furniture and find jobs on Craigslist. Movers can earn a broad range when it comes to hourly pay, but it’s usually somewhere around $50 an hour if you run your own business.
If you love animals, then you may want to look into how to make extra money by walking dogs or pet sitting. With this side hustle, you may be going over to your client’s home to check in a few times a day, you may be staying at their house, or the animals may be staying with you. Rover is a great company to sign up with in order to become a dog walker and pet sitter. Learn more about this at Rover – A Great Way To Make Money And Play With Animals.
Babysit and/or nanny children.
Sell your stuff.
Rent a spare room in your home to someone else.
As you can see, the list is endless when it comes to making more money.
Related posts on how to make extra money:
Diversify your income streams to learn how to be rich.
One thing that separates the rich from those who aren’t is that the rich and successful tend to have many different forms of income streams.
They may have a day job, a business, rental properties, dividend income, and more. This allows them to bring in more money.
They also do this because the rich know that one source of income may not last forever, and they are also able to lessen their risk by having multiple income streams.
So, if you want to learn how to get rich, then you may want to add more income streams to your life.
If you ever feel too reliant on one source of income, then you know how important this is. Maybe you are afraid that one day you will lose your job or that something will happen to your main source of income.
If you work towards building up multiple income streams and diversifying your income, then you won’t have to worry as much if something happens to one of your income streams.
By diversifying your income with multiple income streams you will have a backup plan, you may be able to retire easier, you will learn how to get rich, and so on.
Note: I recommend that you check out Personal Capital (a free service) if you are interested in gaining control of your financial situation. Personal Capital is very similar to Mint.com, but 100 times better as it allows you to gain control of your investment and retirement accounts, whereas Mint.com does not. Personal Capital allows you to aggregate your financial accounts so that you can easily see your financial situation, your cash flow, detailed graphs, and more. You can connect accounts such as your mortgage, bank accounts, credit card accounts, investment accounts, retirement accounts, and more, and it’s FREE.
Even the rich find ways to save money.
Finding ways to save more money may allow you to pay off your debt a little faster, improve your financial habits, help you reach your dream sooner, and more.
And yes, even the rich find ways to save money.
Sure, there are stories about rich people who spend their money like crazy and end up in bankruptcy. But surprisingly, the average millionaire is frugal, and they know how to manage their money well.
Don’t believe me? Here are some examples of millionaires and billionaires who still find ways to save money:
Warren Buffett lives in a house that he bought in 1958 for around $30,000.
Mark Zuckerberg drives an Acura.
John Caudwell (worth $2.7 billion) rides his bike 14 miles to work every day and even cuts his own hair.
Jim C. Walton (son of Walmart founder) drives an old truck with no air conditioning.
Another interesting statistic is that the average couponer is someone who earns over $100,000 a year. Surprisingly, those who earn less than $100,000 a year rarely use coupons compared to those with high incomes!
By finding ways to save money, you’ll be able to keep more of your money, learn how to get rich, add more to your investments, and so on. You worked hard for your money, so you may as well find ways to keep more of it!
Find ways to save money at 30+ Ways To Save Money Each Month.
Stop trying to impress others.
When was the last time you bought something that was mainly purchased to impress someone else?
Sadly, this is something that the average person does quite often.
If you want to start building wealth and understand how to get rich, then you’ll want to stop trying to impress others and start living your own life.
The rich tend to live below their means. Yes, many of them still spend money extravagantly, but many aren’t living paycheck to paycheck in order to do so. Many millionaires buy items used, they drive “normal” cars like Toyotas, and they aren’t buying things with the sole purpose of impressing others.
This is drastically different from those who aren’t rich.
Many people try to keep up with others and fall for lifestyle inflation, which can prevent a person from being a good money manager.
When trying to keep up with the Joneses, you might spend money you do not have. You might put expenses on credit cards so that you can (in a pretend world) “afford” things. You might buy things that you do not care about. The problems can go on and on.
Instead, you should focus on what you want and need. This will help you to save more money, be more realistic with your income and spending, and to build wealth.
Do you want to learn how to get rich? What does “rich” mean to you?
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.
Do you want to make your money work for you?
I know what you’re thinking—money doesn’t grow on trees.
It takes money to make money.
That is a true case, but it doesn’t mean you have to be a millionaire to start. You can invest $100 to make $1000.
But there are a few things that will help any of us start seeing some green: time, patience, and perseverance.
We all know that money is a powerful tool. It helps us get what we want, live the way we want to, and achieve our goals. But how do you make your money work for you?
If you’re new to financial success or are looking for some fresh ideas on increasing your wealth, then you are in the right place!
That’s where this post comes in! In it, we delve into the five best ways to grow your wealth and show you how they work.
How can you make your money work for you?
There are many ways to grow your wealth. You can invest in stocks, bonds, and other securities. You can also start your own business or invest in real estate. Whatever you choose to do, make sure you are diversified and have a plan.
Making your money work for you is all about creating passive income streams.
This means finding ways to make money without having to actively work for it. Some examples include investing in stocks, real estate, and businesses.
How to Make Your Money Work for You: The [Best Ways] to Grow Your Wealth.
Your money is a powerful tool that can help you save, invest and grow your wealth, but only when you know the ways to make it work for you.
This is something that many people don’t learn and don’t invest the time to understand.
The best way to grow wealth is by taking your time and doing the research necessary for you to understand what it takes. You have to know how much money you need, where it will come from, and how you will invest it.
#1 – Create Financial Goals
It’s important to have specific financial goals because they give you something to work towards and help keep you motivated. Having specific goals also makes it easier to measure your progress and see how far you’ve come.
To create specific financial goals, start by thinking about what you want to achieve.
Do you want to save for a down payment on a house?
Are you looking to pay off debt?
Looking to increase your saving percentage?
Or do you want to retire early?
Once you know what your goal is, break it down into smaller steps that you can take to get there. For example, if your goal is to save for a down payment on a house, your first step might be saving $2000 for a down payment fund. Then, once you have that saved up, your next step might be saving $1,000 for the down payment fund.
Keep breaking your goal down into smaller and smaller steps until it feels achievable.
When setting financial goals, avoid setting goals that are too vague or unrealistic. For example, don’t set a goal of “saving money” without specifying an amount or timeline. Also, avoid setting goals that are so small they’re not worth achieving (like saving $5 over the course of a year).
#2 – Develop Passive Income Streams
Passive income is a type of earnings that does not require active work to generate. This can include earnings from investments, rental properties, and other business ventures in which you are not actively involved.
There are several different types of passive income:
Interest and dividends from investments: This can include earnings from stocks, bonds, and other investment vehicles.
Rental income: This can come from renting out a property you own, such as an apartment or vacation home.
Business income: This can come from owning a business in which you are not actively involved in the day-to-day operations. For example, you could own a franchise or be a money-only investor.
Royalty payments: These are payments made to you for the use of your intellectual property, such as patents, copyrights, or trademarks, a book, or a song.
Other types of passive income include blog or affiliate revenue. For example, if you have a blog and it generates ad revenue or affiliate income from referrals to third-party products, that would be considered passive income.
Passive income is money you earn without having to work directly for it. It can come from any number of sources. Remember, passive income is different than active income, which is money you earn through a job or business ownership.
In fact, most millionaires have at least 3 passive income streams (source).
Passive income is the Holy Grail for online marketers. It’s automatic. Effortless. But, not at first. In the beginning, it’s grueling. I liken this to doing the most amount of work for the least initial return. However, over time as your passive income begins to increase, your reliance on an active income plummets.
That’s when the real magic starts to happen.
#3 – Plan for Each Dollar
The first step to making your money work for you is creating a budget. This will help you track your income and expenses so you can see where your money is going. You can use a budgeting app or spreadsheet to do this.
When it comes to managing your finances, it’s important to have a plan for each dollar that comes in. You should make conscious choices about where to spend your money and what type of accounts to use.
Your highest priorities should be determined by what is most important to you.
It is also important to remember that every penny counts- so use your money wisely!
#4 Pay Yourself First
One of the best ways to grow your wealth is to save first. This means putting away money into savings or investments before you spend it. This will help you reach your financial goals more quickly.
When you get paid, make sure to put some money into savings or investments before spending it. This way, you are prioritizing your own financial well-being.
Automating your finances is a great way to make sure your bills first are always paid on time and that you are saving regularly. You can set up automatic transfers from your checking account to savings or investment accounts
#5 – Get Out of Debt
Debt can be a major financial burden, preventing you from achieving your financial goals. It’s important to get out of debt as soon as possible so that you can free up your money to save and invest for the future.
In fact, this is one of the first steps we stress here at Money Bliss – pay off debt!
There are a few different ways to get out of debt. You can try negotiating with your creditors, consolidating your debts, or making more money to pay off your debts faster. Whatever method you choose, make sure you have a plan and stick to it.
There are a few things you should avoid when trying to get out of debt.
First, don’t miss any payments or make late payments, as this will damage your credit score.
Second, don’t use credit cards while you’re trying to pay off debt, as this will only add to your balance.
Finally, don’t take on any new debts while you’re trying to get out of debt – focus on paying off the debts you already have first.
#6 – Start an online business
This can be a great way to create passive income and build wealth over time. There are many different types of online businesses that you can start, so do your research and find the one that is best suited for you.
Starting an online business is a great way to make some extra money on the side. It can be done relatively easily and doesn’t require much upfront work. Once you have the foundation in place, it’s easy to start generating income without any additional effort.
In fact, learning how to make money online for beginners is a hot topic!
The internet provides a unique opportunity to start and grow an online business. With the right tools, you can use the internet to your advantage and build a successful business.
#7 – Invest in the stock market
There are many ways to invest in the stock market, but the most common is through buying and selling shares on a stock exchange. You can also invest in mutual funds, which pool money from many different investors and then invests it in a portfolio of stocks or other securities. Another way to invest is through exchange-traded funds (ETFs), which are similar to mutual funds but trade like stocks on an exchange.
Before you start investing in the stock market, there are a few things you should consider.
First, you need to decide what your investment goals are. Are you looking to grow your wealth over time, or do you need access to your money quickly?
Second, you need to understand the risks involved with investing in the stock market. While there’s always the potential for making money, there’s also the potential for losing money.
Finally, you need to research different investments and choose one that fits your goals and risk tolerance.
Investing in the stock market comes with a number of risks, including the potential for losing money. While there’s always the potential for making money, there’s also the potential for losing money. Before you invest, you should understand the risks involved and make sure you’re comfortable with them.
#8 – Automate your finances
Automating your finances means setting up automatic payments for your bills and other regular expenses. This can help you to stay on top of your finances and avoid late payments or overdraft fees.
There are a few different ways that you can automate your finances. You can set up automatic payments through your bank or credit card company. Alternatively, you can use a service like Quicken to track your spending and create a budget.
Automating your finances can save you time and money. It can help you to stay on top of your bills and avoid late fees or overdraft charges. Additionally, it can free up more of your time so that you can focus on other aspects of life.
#9 – Habit of Automatic Savings
Automatic savings works similarly to automating your finances, but instead of paying bills, money is automatically transferred into a savings account each month. This can help you build up your savings without having to think about it.
With automatic savings, you can grow your savings without extra work; however, if you need access to the money in your savings account quickly, it may take a few days for the funds to transfer back into your checking account.
Challenge yourself to save more than the average 5% personal saving rate.
Overall, automating your finances can be a great way to stay on top of your bills and save money. Just be sure to consider the pros and cons of each method before you decide which one is right for you.
#10 – Use a Rewards Credit Card and Pay It Off Each Month
When you use a rewards credit card, you earn points for every purchase you make. These points can be redeemed for cash back, merchandise, travel, or other perks. Some cards also offer bonus points for spending in certain categories, such as gas or groceries.
To get the most value from your rewards card, it’s important to pay off your balance in full each month. This way, you’ll avoid paying interest on your purchases and will actually save money by earning rewards.
This is something we do on a regular basis and helps us to pay for our travel.
There are both pros and cons to using a rewards credit card. On the plus side, you can earn valuable rewards just by making everyday purchases. And if you pay off your balance in full each month, you’ll avoid paying interest and will actually save money.
On the downside, if you carry a balance on your card from month to month, the interest charges will outweigh any benefits you earn from the rewards program. Additionally, some cards have annual fees that can offset any savings you might accrue from using the card.
#11 – Learning How to Budget
A budget is an estimation of revenue and expenses over a specified future period of time. A budget is often created annually, but may also be created more or less frequently like biweekly or by paycheck.
Budgeting is important because it allows you to track your income and expenses so that you can make informed financial decisions. It also enables you to save money by identifying areas where you can cut back on spending.
Simple Budgeting tips:
Make sure your income and expenses are realistic
Track your progress over time
Don’t be afraid to adjust your budget as needed
Keep your long-term financial goals in mind
Budgeting shouldn’t feel constricting – just that you are able to do what you want to do.
#12 – Save Your Money
Saving money is a key component of building wealth. You need to have money saved in order to invest, and you need to be investing in order to grow your wealth. There are a few different ways that you can save money.
One way to save money is to create a budget and stick to it. This will help you track your spending and make sure that you are not spending more than you can afford.
Another way to save money is to make sure that you are taking advantage of all of the tax breaks that are available to you. This can help you keep more of your hard-earned money in your pocket.
Finally, another way to save money is by automating your savings so that you do not have to think about it every month.
Try to save your money wherever you can, even if it is a small amount. Every little bit counts in the long run!
#13 – Now, Invest Your Money
Investing your money is one of the best ways to grow your wealth over time.
When you invest, you are essentially putting your money into something that has the potential to grow over time. This can be done through stocks, bonds, mutual funds, real estate, and other investments.
The key is finding an investment that has the potential for growth and then holding onto it for the long haul.
Especially learn how to flip money!
#14 – Put Money away for retirement
How much you need to save for retirement depends on a number of factors, including how long you expect to live and what kind of lifestyle you want in retirement.
A general rule of thumb is that you’ll need 70% to 80% of your pre-retirement income to maintain your standard of living in retirement.
There are a number of different options for where to save for retirement, including 401(k)s, IRAs, and annuities. Each has its own set of benefits and drawbacks, so it’s important to do your research before choosing one.
The main benefit of saving for retirement is that it gives you a nest egg to help cover expenses for retirement. Additionally, many employer-sponsored retirement plans offer matching contributions, which can help boost your savings.
#15 – Invest in yourself
The most important thing you can do with your money is to invest in yourself by getting higher education or learning new skills. By investing in yourself, you are ensuring that you will be able to earn a higher income and grow your wealth over time.
There are a few different ways you can invest in yourself.
One way is to invest in your education by taking courses or attending seminars that will help you learn new skills.
Another way is to invest in your health by eating healthy foods and exercising regularly.
Finally, you can also invest in your relationships by spending time with positive people who will support and encourage you.
Investing in yourself has many benefits that are normally overlooked.
First, it will help you earn a higher income which means you will be able to save more money and grow your wealth faster. Second, it will improve your health so that you can live a longer and happier life. Third, it will help improve your relationships so that you can have more supportive and positive people in your life.
This can help you earn more money over time and set you up for success.
Bonus Tip = Be Generous
When you give to others, you are actually helping yourself. Numerous studies have shown that giving makes us happier and can even improve our health.
There are many ways to be generous. You can give your time, your money, or your talents. You can also simply be kind and helpful to others. Whatever way you choose to give, make sure it is something that feels good for you.
Many people ask what to give and there is no one answer to this question. It depends on what you have to offer and what would be most helpful to the person or cause you are supporting.
Things to consider when putting money to work
When it comes to making money, there are a lot of different ways you can go about your little endeavor. But before we get into the specifics of how and when you should put your change to work, we have some general tips to help you along the way.
Where are you today?
First, start by looking at your current spending and saving habits. If you’re not saving anything right now, start small by setting aside $50 from each paycheck into a savings account. Once you have a cushion built up, you can start thinking about investing your money.
Also, think about your long-term financial goals and how much money you’ll need to save to reach them. Automate your savings so that it’s easier to stay on track.
How Much are You Spending?
You should also be mindful of your spending habits as they can have a big impact on your ability to grow wealth over time. Try to live below your means and avoid unnecessary purchases so that more of your money can go towards savings and investments.
It can also be helpful to create a budget so that you have a better idea of where your money is going each month. This will allow you to make adjustments as needed in order to free up more money for savings and investing.
Are you Investing?
Investing is one of the best ways to grow your wealth over time. When you invest, you’re essentially putting your money into something that has the potential to earn more money in the future. This can be done through stocks, bonds, mutual funds, and other investment vehicles.
It’s important to do some research before investing so that you understand the risks involved and don’t end up losing all of your hard-earned money.
Is Debt Holding You Back?
Last but not least, debt can also impact your ability to grow wealth over time. High-interest debt, such as credit card debt, can eat away at your savings and make it difficult to invest.
If you have high-interest debt, it’s important to focus on paying it off as quickly as possible. You may need to make some sacrifices in other areas of your life in order to do this, but it will be worth it in the long run.
How to Make Your Money Work for You FAQs
1. Invest in stocks: This is one of the most popular methods of growing wealth. When you invest in stocks, you are buying a piece of a company that will be worth more in the future. The key to making money with stocks is to buy low and sell high.
2. Invest in real estate: Another popular way to grow your wealth is to invest in real estate. When you invest in real estate, you are buying a property that will increase in value over time. The key to making money with real estate is to make sure your portfolio is set up for high probability of success.
3. Invest in bonds: Bonds are another way to grow your wealth. When you invest in bonds, you are lending money to a company or government that will pay you back over time with interest.
Saving money is one of the best ways to use your money. It allows you to have a cushion in case of an emergency, and it also allows you to save for future goals. There are many different ways to save money, but some of the best include setting up a budget and sticking to it, setting up a savings account, and investing in yourself.
Investing your money is another great way to use it. When you invest, you are essentially putting your money into something that has the potential to grow over time. This can be a great way to build your wealth over time and secure your financial future. Some of the best things to invest in include stocks, bonds, and mutual funds.
Of course, you can also use your money by spending it on things that you need or want. While this may not seem like the most productive use of your money, it is important to remember that spending is necessary in order to live a comfortable life. Therefore, it is important to find a balance between saving and spending so that you can enjoy both now and in the future.
Keep your money in a safe place.
Invest in a good financial institution.
Diversify your investments.
Review your insurance coverage regularly.
Have an emergency fund.
Money Works for You
In this article, we covered a few different ways to grow your wealth.
Making your money work for you is a great way to grow your wealth without having to put in a lot of extra effort. By following the tips and tricks in this guide, you can easily make your money work for you and watch your wealth grow over time.
If you are looking for where to put your money to make it work for you, we uncovered the 15 best ways to make your money work for you.
Whichever method you chose is up to you.
The best answer is to diversify your portfolio and create multiple streams of income.
So what are you waiting for? Get started today and see the results for yourself!
Know someone else that needs this, too? Then, please share!!
Businesses pay market research companies to gather information on what customers like you think. Those market research companies, in turn, pay customers like you to provide that information.
The good news is, this is no longer limited to in-person focus groups. You can now participate in market research from the comfort of your home. You can sign up for apps and sites that will pay you to answer questions.
But some survey apps pay more than others, and they don’t all offer the same types of rewards. Here’s my selection of the best survey apps for money out there if you’re looking to make a little extra money.
What’s Ahead:
Survey Junkie
Rewards for: completing surveys, participating in focus groups, testing products, and sharing web behavior
Redemption options: PayPal credits, bank account transfers, and gift cards for brands like Amazon, Target, Walmart, etc.
Mobile app ratings: 4.6 App Store; 4.3 Google Play
Survey Junkie users start by filling out questionnaires and building their user profiles, which give the platform an idea of their interests and lifestyle. These profiles are then matched to survey opportunities.
Surveys show up in a user’s personal dashboard, and the user can choose which surveys they would like to participate in based on the survey’s pre-disclosed topic, point value, and estimated time of completion.
Completed surveys earn points, which can then be redeemed for PayPal credit, bank transfers, or gift cards. Those who complete three surveys per day can reportedly earn up to $40 worth of credits or gift cards per month. More time-consuming activities like focus groups can earn a higher number of points.
In addition to paid surveys, users can also elect to participate in ‘behavioral research,’ in which they share their web search, browsing, engagement, and shopping history with the platform to earn extra points.
SurveyJunkie is open to residents of the United States, Canada, Australia, and the United Kingdom, ages 16+.
Redemption options: gift cards for Visa, PayPal, or a number of popular retailers
Mobile app ratings: 4.3 App Store; 3.4 Google Play
MyPoints pays you to give your opinion on a wide range of consumer topics, from cars to clothes to home and garden supplies. Payouts for completed surveys range substantially, with some of the more time-consuming surveys offering up to $50 worth of points. Short surveys might yield $1 in points.
Aside from surveys, MyPoints also rewards you for shopping online, which is actually my favorite aspect of the app. It links up to popular retailers I already use, like Amazon, Walmart, Target, and Home Depot, among many others. That means I’m earning points for money I’d be spending anyway.
Best of all, MyPoints helps you save. Not only can you apply coupons to your purchases with your favorite retailers, but you actually earn rewards for downloading them. When combined with the points you’re getting for shopping, you can quickly rack up rewards.
MyPoints lets you cash in your rewards in a couple ways. You can choose gift cards from popular brands like Bath & Body Works, Sephora, or Walmart, or you can convert points to PayPal cash.
Redemption options: gift cards from Amazon, Walmart, Target, and Visa or PayPal cash
Mobile app ratings: 4.4 App Store; 4.2 Google Play
If you want to earn dough just for browsing the internet, Swagbucks is a great option. You won’t be able to quit your day job, but it’s a great way to earn a little extra spending money each month. 100 Swagbucks points are worth $1, and most surveys pay out between 40 to 200 points each. Some active users report making a couple of hundred bucks a month with the app.
What I like most about Swagbucks is the variety of points-earning options. Sure, you can earn rewards for answering surveys and shopping, but you also earn by simply trading in Google for the Swagbucks search engine. You’ll be adding points to your total in the background while you search the web and browse various sites.
Once you’ve earned enough points, you can trade them in for gift cards at some of the most popular retailers. You won’t see as many gift card options as you get with other survey sites, but all the big names are there. For instance, Amazon, Apple, Walmart, and Target gift cards are usually available.
Try Swagbucks now.
YouGov
Rewards for: completing paid surveys
Redemption options: cash direct deposit, gift cards
Mobile app ratings: 4.7 App Store; 4.4 Google Play
What drew me to YouGov is the fact that the collected information is sometimes cited online and in news reports. Knowing I’m a part of the group that is referenced in, “According to a survey from YouGov” is an incentive to participate, especially if I’m paid for my feedback.
The biggest issue with YouGov is that it combines paid survey opportunities with those that pay nothing. You’re free to complete those just to take part in the information being collected and distributed. Some members found that paid opportunities were few and far between.
Despite its name, YouGov doesn’t just collect information on political issues. As with other survey sites, you’ll be polled about your thoughts on brands and services.
Redemption options: PayPal cash, Visa prepaid cards, gift cards for popular merchants
Mobile app ratings: N/A
You can earn around 10 to 250 points per completed survey with Opinion Outpost, which can add up over the course of a day.
Rewards can be redeemed for a relatively limited selection of gift cards, but the selection at least usually includes major brands like Amazon, Apple, Target, Macy’s, Home Depot, etc. Most gift cards require 100 points for a $10 card value.
One downside to Opinion Outpost is that you’ll have to prequalify before you can take a survey. This is done by answering a few questions before the survey’s available. If you don’t qualify, you’ll be entered in a drawing for a quarterly prize, but it can feel like you put more time in to find a survey you can finally complete.
Another potential downside is that Opinion Outpost isn’t available as a mobile app, so if you’re on the go a lot you’ll have to access the platform from a web browser on your phone.
Join Opinion Outpost now.
Branded Surveys
Rewards for: completing paid surveys
Redemption options: Amazon or Visa gift card, or a PayPal payment
Mobile app ratings: 1.5 App Store
Formerly known as MintVine, Branded Surveys offers rewards for survey participants in the U.S., Canada, and the UK. It partners with some of the top names in the industry, including Nielsen and Harris Interactive. As such, you’ll have more confidence that your feedback will make an impact.
One thing that sets Branded Surveys apart is the volume of surveys. You’ll have to qualify for each one, but having a wider range of options makes it more likely that you’ll find one that’s a match.A great thing about Branded Surveys is if you put time into completing a survey, only to ultimately find out that you don’t qualify, you’ll still be paid a few cents.
Branded Surveys typically pays between $0.50 to $5.00 per survey. You can cash out once you reach 500 points. Aside from the usual gift cards or PayPal credits, with Branded Surveys you can also choose to direct your accumulated points toward a US charity, which is unusual among survey apps.
Join Branded Surveys now.
Pinecone Research
Rewards for: online surveys
Redemption options: PayPal cash payments, paper checks, prepaid cards, or gift cards
Mobile app ratings: 2.4 App Store; 3.0 Google Play
From respected industry leader Nielsen (of Nielsen Ratings fame), Pinecone Research is a great way to earn rewards while also feeling as though your voice is being heard. To get started with Pinecone Research, you simply sign up and wait for approval. Once you’re approved, you’ll start receiving invitations to participate in surveys.
After you’ve set up an account, you’ll be able to view the rewards available, as well as the points you’ll need to earn them. You can trade your points in on small rewards or save up for something bigger. As long as your account remains active, your points never expire. You can also opt to trade your points in for cash, deposited to your account.
One thing that sets Pinecone Research apart is that sometimes members are mailed physical products to try out. In many cases, you get to keep the items after you’ve completed the survey. Some brands ask that you send the products back, though.
Surveys and products are distributed based on the questionnaire information you provide. Many brands request specific audience demographics, so some members receive more offers than others. This makes the questionnaire you complete at signup especially important.
Join Pinecone Research now.
MySoapBox
Rewards for: completing surveys
Redemption options: gift cards from popular merchants, including Amazon, Walmart, and Starbucks
Mobile app ratings: N/A
MySoapBox focuses on surveys, rewarding you for answering questions about products, services, and experiences. It’s available as a web app only, not a mobile app.
1,000 points equate to a $1 value, and you’ll generally get between 750 and 1,500 points per completed survey. You need a minimum of 25,000 points to redeem for a gift card.
MySoapBox is a part of Interviewing Service of America (ISA), one of the largest US-based market research companies. They’ve collected data for businesses since 1982, historically through telemarketing and in-person focus groups, and today facilitating an online option via MySoapBox.
Join MySoapBox now.
Intellizoom
Rewards for: taking surveys
Redemption options: PayPal
Mobile app ratings: N/A
Intellizoom doesn’t mess with rewards and points; you’ll instead earn cash for completing surveys. They don’t send you actual dollar bills, of course. You’ll be paid electronically via PayPal within 21 business days of your survey responses being approved.
The amount you’re paid is based on the complexity of the survey. You can earn up to $10 for more challenging surveys, such as those that require you to record audio or video. Simple surveys usually pay around $2 each.
You may find yourself not as active as you want to be, though. As with other survey sites, you have to wait until you’re invited to participate. Typically, invitations are based on demographics, but you’ll also be graded on the quality of your surveys. You can boost your earnings by making an extra effort to provide useful, well-constructed feedback.
Without an app, you are limited to using the site in a browser. If you can get enough of the more challenging surveys, you could make a decent chunk of change from this site.
Join Intellizoom now.
How I came up with this list
Yes, some survey-for-cash sites can be scammy. It may even sound too good to be true. When I was researching top survey apps and sites, I first narrowed it down to the reputable ones, reading reviews and making sure people had actually gotten paid for their efforts.
Once I had a list of trustworthy sites, I further sharpened it to make sure you were getting the best of the best. Here are the features I considered in my research:
Options for earning points
Redemption options
Difficulty in earning enough points to get rewards
Turnaround time for getting paid after cashing in points
Keep in mind that scams aren’t the only thing to worry about with survey sites. You’ll find that with some sites, the amount of work you have to put in to get even a $10 gift card is far more than with other sites. You can speed up that turnaround time by choosing a site that lets you accumulate points for doing other things, including shopping, gaming, or participating in the site’s community.
How to take surveys for money
A survey app gathers information from consumers, often in exchange for a small amount of pay. You’ll sign up, provide some demographic information, then apply to complete surveys. Taking surveys that you qualify for might be rewarded with gift cards, prepaid cards, or PayPal transfers.
If you’re looking for a way to make a little extra money, a survey app can help. But some people sign up for the rewards, only to find that the real enjoyment comes from providing feedback. The information you provide is used to help businesses improve everything from product design to marketing efforts, so your opinion can be a huge benefit to all consumers.
Those with a little extra time on their hands will likely find a survey app is a great fit. If you’re looking to make hundreds of dollars a week, though, you’ll probably be disappointed.
Most important features of survey apps
Ready to get started? If so, here are some features to consider as you’re shopping around for a survey app.
Points-earning options
What do you have to do to earn points? Surveys are only one option. You can also find apps that will let you earn points for doing web searches, shopping online, watching videos, and more. Also, consider the types of surveys the site offers. Many will simply ask you about your feelings on products or services, but there are some that are political in nature.
Rewards offered
If you’re looking for cold, hard cash, you’ll need to first weed out the sites that only offer gift cards. Although if you’re like me, a gift card to a retailer like Amazon or Walmart can be as good as cash. Many survey apps also allow you to cash out via PayPal, which is accepted at a wide range of online retailers.
Ease of finding surveys
Ideally, you’ll sign up for a site and be able to complete as many surveys as you want. Unfortunately, that isn’t how it always works. Many companies are looking for data from a very specific demographic, so you’ll only be able to participate in some of the available surveys.
FAQs
Are paid survey apps legit?
Even when a survey site is legitimate, it may not pay as much for your time as you’d like. It’s important to note that you should never pay to participate in a survey site. You can find plenty that will let you sign up for free and will pay you, rather than the money flowing in the other direction.
Are survey websites worth it?
Paid survey websites can be a way to earn a little extra cash, but whether they are worth it depends on your personal situation and goals.
While taking surveys may not take a lot of effort, it can be time-consuming. You may need to spend a significant amount of time taking surveys to earn a meaningful amount of money. Most survey sites offer relatively low compensation, so it’s important to consider whether the payout is worth your time investment.
There may be quicker ways for you to make money.
How quickly do survey apps pay you?
Turnaround time can vary, but once you have your points, many of these sites will have your rewards to you within a few days of your request. Some sites that pay in cash may take as long as 21 days, so be sure to plan ahead if you’re depending on the money.
How do paid survey apps make their money?
For decades, companies have depended on focus groups to provide information on market sentiment. Survey apps simply take the process online, letting you participate in surveys without having to go to a designated physical location. Businesses pay market research companies to gather data and provide it, then use the information to inform their own business decisions moving forward.
How I came up with this list
Yes, some online survey sites can be scammy. It may even sound too good to be true. When I was researching top survey apps and sites, I first narrowed it down to the reputable ones, reading reviews and making sure people had actually gotten paid for their efforts.
Once I had a list of reputable survey apps, I further sharpened it to make sure you were getting the best of the best. Here are the features I considered in my research:
Options for earning points
Redemption options
Difficulty in earning enough points to get rewards
Turnaround time for getting paid after cashing in points
Keep in mind that scams aren’t the only thing to worry about with online survey sites. You’ll find that with some sites, the amount of work you have to put in to get even a $10 gift card is far more than with other sites. You can speed up that turnaround time by choosing a survey site that lets you accumulate points for doing other things, including shopping, gaming, or participating in the site’s community.
Summary
Survey apps can be a decent side hustle to make a little extra money within a low-stress framework. But even the highest paying survey apps don’t pay well enough to serve as a replacement for your regular job.
Aside from earning gift cards or cash for your completed surveys, participating in market research can be rewarding in other ways. You’ll know your feedback is being used to influence the direction businesses take, making any rewards you receive a bonus.