7 Wealth Generation Methods for Young People

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Generational wealth is the ability to pass down financial assets to future generations. It's something that many people dream of, but it's not always easy to achieve. However, if you're in your 20s and you're serious about building generational wealth, there are a few things you can do to get started. Here are seven tips for building generational wealth in your 20s: Set financial goals. The first step to building generational wealth is to set financial goals. What do you want to achieve financially? Do you want to buy a house? Pay off your student loans? Retire early? Once you know what you want, you can start to create a plan to achieve it. Opens in a new window www.investor.gov Create a budget. A budget is a great way to track your income and expenses. It can help you see where your money is going and make adjustments to save more. There are many different budgeting methods, so find one that works for you and stick to it. Opens in a new window mint.intuit.com Live bel...

20 Genius Ways to Make Extra Money (Free Guide 2020)


1. Data entry clerk

     Potential earnings: $27,000 per year for full-time work

  Data entry is a flexible entry-level work-from-home job. Companies may hire you to input data to a software system, transfer information, and update records.

It helps if you’re detail-oriented, can easily navigate spreadsheets, have strong organizational skills, and are a fast and accurate typist.

2. Insurance claims investigator

Potential earnings: $47,000-$66,000 per year for full-time work

As an insurance claims investigator, you’ll work for insurance companies to investigate and validate claims made by policyholders to protect the companies from fraud. Although you’ll primarily work from home, you might need to go into the field to conduct interviews or take pictures.

You don’t need any formal education or training, but it generally requires excellent communication, research, and interview skills. Many companies provide on-the-job training and continuing education.

3. Camp counselor

   Potential earnings: $11-$17 per hour

  Although typically an outdoor, in-person job, there are some remote camp counselor jobs, particularly for STEM-based camps. You’ll work with campers teaching them coding, performing science experiments, digital art, and more.

These are seasonal positions. It can be a good opportunity for college students studying to become teachers or stay-at-home parents to earn money.

4. Test proctor

     Potential earnings: $12 per hour on average

  Similar to an in-person proctor, a remote test proctor will verify a test taker’s ID and monitor them throughout the exam to ensure that they don’t cheat and maintain the integrity of the exam. This is typically done via a webcam, so it’s important that you have good internet connection and a quality camera and microphone.

The hours vary depending on the company you work for and when the students schedule their exams.

Work from Home as a Contractor

If you want the benefit of working for someone else but prefer the flexibility of making your own schedule, there are many ways to work from home as a contractor.

5. Freelance proofreader.

    Potential earnings: Approximately $50,000 per year, depending on rates, experience, number of clients, and type of project

  If you’ve got a knack for grammar, can spot typos, and can fix egregious misspellings, proofreading may be an option for you. As a freelance proofreader, you’ll work for a variety of clients helping them identify errors in their written and printed content.

After finding success as a proofreader, Caitlin Pyle started to teach others how to do the same. She launched her course, Proofread Anywhere, that covers the tools and skills you need to be an effective proofreader including, how to get started and where to find clients. To see if proofreading is a good fit for you, check out her free online workshop.

6. Virtual assistant.

   Potential earnings: $15 to $75 per hour, depending on experience

 Virtual assistants, commonly referred to as VAs, are hired to help business owners with online administrative tasks. They help with tasks like email, calendar management, social media management, transcribing calls, and managing customer service.

You can fast-track your virtual assistant job search by taking a training class that’ll teach you the skills needed to become a virtual assistant. To find your first clients, you can contact some small business owners or browse sites such as Upwork and Freelancer. You can also apply to work for virtual assistant companies that pay hourly.

7. Dog walker or pet sitter.

Potential earnings: $20 to $30 per walk and anywhere from $20 to $40 for overnight pet sitting services.

   If you love animals, or want a pet but can’t have one, get paid to spend time with someone else’s by working as a dog walker or pet sitter. You can start your own business or sign up with Rover, which connects pet owners with dog walkers and pet sitters in their area.

    The site allows you to create your own profile, as well as set your rates and availability. You can communicate with prospective clients and book paying gigs directly from the app.

   Note that Rover collects a 20% service charge that’s deducted from your earnings, so keep that in mind when you set your fees.

8. Freelance writer

   Potential earnings: $30 to $500+ per assignment, depending on difficulty, experience level, subject, and the length of the material

  Freelance writers are writers contracted by websites, newspapers, magazines, blogs, and other businesses to write content on a particular topic. If you’re a strong writer but don’t want to run your own blog or website, hire yourself out and write for others.

    You can get started with freelance writing by taking a course like Holly Johnson’s Earn More Writing that teaches you how to set your rates and land clients. Make sure you have a portfolio of writing samples to show to prospective clients. If you’re new to freelancing and have a blog, you can use the original blog content you’ve written until you have client work to showcase.

9. Babysitter

    Potential earnings: Variable based on rates, number of kids you watch, and how many hours per week you provide care

 One of the most reliable and flexible ways to earn money from home, and one that you can start immediately, is by providing child care and babysitting services.

You can offer morning care services to help kids get ready for school, keep an eye on them as parents go off to work, or watch them while mom or dad runs errands. Or you can take advantage of the fact that child care centers are closed during the evenings and weekends and offer your services for those hours.

     If you choose this route, decide what age group of kids you prefer to watch and create a profile on Care.com or Sittercity.com to help you find clients. You can also ask friends and neighbors if they need child care.

10. Web designer

    Potential earnings: Around $50,000 per year, although you can earn more as a freelancer based on your rates, services, and number of clients

   Business owners want professional looking websites for their space on the internet. If you can code and have a good eye for design, you can earn money designing websites for small businesses.

    If you want to work as a web designer, Adobe Photoshop and Adobe Illustrator are essential pieces of software you’ll need to master. Proficiency in HTML, CSS, and JavaScript are also must-have skills.

11. Social media manager

   Potential earnings: $15 to $120+ per hour, depending on experience

       If you’re proficient with different social media platforms, you can turn your skill into a work-from-home job by offering services like creating and scheduling posts, running ads, managing private messages, and monitoring online groups.

    Creating content and engaging with fans and customers is a time-consuming task that many businesses don’t have the bandwidth to do in-house. As a result, they prefer to outsource the task. While some companies do have full-time in-house social media managers, it’s often cheaper to hire a part-time remote worker for this role. This opens up positions for work-from-home freelancers.

   If you favor one platform over the others, focus on becoming an expert in that area so you can offer a specialized service.

12. Seamstress

  Potential earnings: variable

    If you’re good with a sewing machine or needle and thread, working from home as a seamstress is a viable job option. You can contract to work with dress shops altering wedding, bridesmaids, or prom dresses and other formal wear. If you prefer, you can work as a freelancer doing custom projects like curtains, slip covers, or offer alterations on jeans and other clothes.

Other Ways to Make Money from Home

     In addition to working as a contractor or employee for another company, you can earn money from home in a number of other ways.

     These can be great jobs for stay-at-home moms, retired people looking for some extra cash, or as a supplement to a full-time job and you can start most of them immediately.

13. Survey taker

    Potential earnings: $5 to $200 per month, depending on eligibility and how many surveys you participate in

     Most companies want to better understand potential customers so they can improve products and target their audience more effectively. To do that, sites pay people to take surveys. Although not technically a job, you can make money taking surveys, and it requires no experience.

    There are many different types of surveys you can take. From opinion polls to answering questions about shopping habits, companies usually ask users in-depth questions to help improve their marketing strategies.

     Signing up on survey-taking websites is easy and free, and you can get started immediately. In our experience, some of the best survey sites to use are:

    Survey takers are usually paid in cash via PayPal or with points that can be redeemed for gift cards.

14. Facebook ads specialist.

Potential earnings: $47,000 per year for full-time work, but freelancers can earn more or less depending on experience, rates, number of clients, and length of ad campaigns.

    Local businesses in your area likely have a Facebook page but aren’t using Facebook ads to effectively attract more clients. As a Facebook ads specialist, you’ll create ads that reach a target audience, manage advertising budgets, monitor campaigns, and more. You’ll help local businesses grow while simultaneously building your own business.

   It’s not difficult to get started as a Facebook ads specialist, but enrolling in a program like the FB Side Hustle Course can help. Courses like this will show you things like how to set up the Facebook ad system and find paying clients.

15. Blogger

 Potential earnings: $0 to $150,000+ per month.

    If you enjoy writing, love sharing your opinions, expertise, and recommendations, consider starting a blog. Blogs are a great way to teach people about a particular skill, entertain, or share your life experiences. You can blog about anything: books, fitness, organization, fashion — whatever you’re passionate about or skilled in.

    There is no experience or technical knowledge needed to start a blog, but you might need a step-by-step tutorial to get started. You’ll also need a domain name and hosting. HostGator is one of the most affordable options to get a blog up and running.

     Money-making options for bloggers include: affiliate marketing, accepting paid advertisements, and selling digital or physical products.

16. App or website tester

 Potential earnings: variable based on number of tests completed

   Similar to taking surveys for money, companies will also pay people to give feedback on their website. Companies want to know how easy and user-friendly their websites are, and the information you provide is extremely valuable.

Here are some places you can apply for this type of work:

  • WhatUsersDo – Pay is $8 (or more) per test. Tests take around 15-20 minutes. You need a Mac or PC and a mic.

  • Enroll – Get paid to test websites before they are published. Earn cash rewards.

  • Userfeel – This company pays around $10 per test.

  • Analysia – Tests take around 15 minutes to complete. Pay is $10 per test.

  • TryMyUI – Tests take around 15-20 minutes to complete. Pay is $10 per test.

You won’t make a full-time living testing websites, but it is an excellent way to earn some extra income.

17. Microtasker

    Potential earnings: $50 to $130 per task, on average.

    Do you like working with your hands and helping your local community? TaskRabbit might be a great way for you to make money working from home.

    TaskRabbit is a service-based app that connects customers with people who can help them with things like mounting a TV, moving furniture, or cleaning. Workers can also build furniture, help people move, and do home repairs.

    To work with TaskRabbit, you need to submit an online application and attend an informational session in your area. After you’ve completed the registration process, the TaskRabbit app will notify you of jobs in your area.

   You set your rates and negotiate job details with the client. Once you’ve completed the job, you can submit your invoice via the TaskRabbit app.

18. Ecommerce store owner

   Potential earnings: $0-$10,000+ per month

Ecommerce store owners operate a digital storefront to sell merchandise ranging from digital products, like PDFs or printables, or physical products that require inventory. Unlike operating a brick-and-mortar store, you’ll keep and manage the inventory from your home. A site like BigCommerce or Shopify can help you get your storefront up and running quickly and easily.

How much you’ll earn depends on what you sell, how often you make a sale, and how aggressively you market your products. You can work as many or as few hours as you prefer.

19. Mock juror

    Potential earnings: $20 to $60 per case

   As an online mock juror, you’ll participate in a simulated trial, listening to attorneys present evidence and making judgments based on what you hear. You’ll give the lawyers feedback on their arguments and answer questions that help them identify strengths and weaknesses in their cases.

     You can sign up to work with a credible company like OnlineVerdict. The amount of hours you work is entirely up to you.

    Note that the decisions you make are not legally binding and do not determine if someone is guilty or not guilty; they’re for informational purposes only. This also does not count as a substitute for actual jury duty.

20. Travel agent

    Potential earnings: $47,000 per year but can increase based on tips and commissions

      Travel agents help clients find the best deals and experiences for their trips. If you enjoy traveling and helping people brainstorm their dream vacations, you’ll enjoy this job.

   Some travel agents become certified, which is not required but does help. If you complete training through a program like The Travel Institute you’ll learn more skills that can help you better serve clients. You can even consider specializing in specific kinds of travel like cruises or Disney World vacations.

     Instead of charging a fee, you’ll earn a commission when your clients book their travel through you. The deals tend to be pretty competitive, making it easy to convince clients to work with you.

Where to Find Full-Time Work-from-Home Jobs

Finding a work-from-home job is similar to finding a traditional job. To get started, you just need to know where to look.

Job boards and sites

If you’re looking for a more traditional job, start by looking on sites like ZipRecruiter, Indeed.com, Glassdoor, or even LinkedIn’s job board. You can filter your searches by type of work, location, hours, and even specific jobs. For instance, if you want to work as a virtual nurse, you can visit ZipRecruiter and type “telemedicine” and your location into the search feature and you’ll get a listing of all available positions with real companies in your area.

    Freelancers should consider using sites like Upwork, Freelancer, or Fiverr to find clients. You can also browse job boards like the ones found on ProBlogger and Mediabistro. If you need to create a profile, make sure it’s as complete as possible and includes a way for prospective clients to contact you.

Company websites

If you’re interested in working for a specific company, visit their website and search for their “careers” or “job openings” page. That should provide you with the application process, salary information, and what positions are currently open. If it’s a smaller company, you might want to reach out to the owner if nothing is listed on their website. They might not have updated their website to reflect current openings.

If you work in a specific industry, do some research to find out what companies in that field hire for the job you’re interested in. Companies like SYKES and Appen hire search engine evaluators, and SigTrack, Capital Typing, and DionData Solutions hire data entry clerks.

Networking

You can also find work-from-home jobs by cold calling or emailing businesses in your area, friends who are business owners, or connecting with businesses on social media. Facebook has networking groups for most professions, as does LinkedIn, and if you have a local chamber of commerce or small business group, consider joining them as well.

Don’t rule out job fairs or other types of in-person hiring events. You never know what opportunities you might come across.

Watch Out for Work-from-Home  Job Scams

      The rise of the internet has created opportunities that didn’t even exist just a few years ago. High demand for remote workers, especially in the tech industry, has led to the largest voluntary exodus from the in-person workforce in almost twenty years.

    If you’re not thrilled about commuting to the office or if you’re looking for a part-time gig, there are plenty of legitimate work-from-home jobs to choose from.

However, some people have taken advantage of the common desire to work remotely. For each legitimate work-from-home job out there, there is likely a scam to match it. Jobs that ask you to post ads online, stuff envelopes, or assemble products from your home are all probably scams.

    It’s important to know how to recognize these work-from-home scams so you don’t waste your money or time. If something sounds too good to be true, it likely is.


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