Whether you’re earning extra money or working full time, you’ll need to adopt new financial strategies.
Dan Simms spent decades working in sales, but after more job-hopping than he preferred, he was ready for a career change. A friend suggested DogVacay, a service that linked up pet owners with people who could walk or care for their animals while they were at work or away. (DogVacay was acquired by Rover, a similar service, in 2017.) Simms and his wife, Denise, had owned dogs for more than 30 years, and their Long Island, N.Y., house and large yard were ready-made for a new crew of canines.
In late 2016, Simms set up a profile on the website, printed a stack of business cards and pitched his services to veterinarians and travel agents, figuring they might be a good source of clients. Now, he regularly pulls in more than $5,000 each month after paying estimated taxes and oversees an average of five dogs during the week and eight over the weekend. To keep both his human and non-human clients happy, he sends short videos of each dog to its owner during its stay. He even makes house calls to care for aggressive or injured dogs as needed. Although Simms works seven days a week, “it’s a labor of love,” he says. “I see myself doing this for another 12 to 15 years.”
NEW TWIST ON AN OLD IDEA
Freelance and independent contract work is nothing new, but the apps and websites that power the gig economy have brought on-demand employment into the mainstream. “The gig economy crosses all sectors, incomes and education levels,” says Diane Mulcahy, author of The Gig Economy (HarperCollins). “It has infiltrated professions that were dominated by full-time work.” For example, you can consult as a lawyer, flex your admin skills as a virtual assistant, share your hometown with tourists as a private guide or cook up a feast for paying guests—all on your own time and schedule (see page 30 for a list of promising side hustles).
هذه القصة مأخوذة من طبعة July 2019 من Kiplinger's Personal Finance.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة July 2019 من Kiplinger's Personal Finance.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
FREE HELP FOR COLLEGEBOUND STUDENTS
This program’s mentors assist applicants as they fill out the FAFSA, write essays and more.
WHAT YOU SHOULD KNOW ABOUT SPOUSAL IRAS
You typically need earned income to contribute to an individual retirement account, but a spousal IRA provides an important exception to this rule.
SELLING SHARES? HERE'S HOW TO MINIMIZE TAXES ON YOUR GAINS
ET'S say you've been regularly buying shares in a booming tech company over the past few years, but now you want to start taking some of those profits, perhaps to rebalance your portfolio.
Strategies for Novice Investors
AS part of a lifes kills program for young, single mothers, I was asked to teach a class on how to get on top of your finances.
ANSWERS TO YOUR 529 PLAN QUESTIONS
Thanks to recent policy changes, families have more options for what to do with money sitting in these tax-advantaged accounts.
Rate-Cut Winners and Losers
NOW that the Federal Reserve has cracked the interest rate ice, the next development will be to separate winners from losers.
SHOULD YOU BUY THESE RED-HOT FUNDS?
Covered-call ETFs are popular but come with plenty of caveats.
DIVIDEND STOCKS ARE READY TO REBOUND
Our favorite dividend payers are poised to benefit as falling interest rates lure investors back.
IS A 55+ COMMUNITY RIGHT FOR YOU?
These age-restricted developments appeal to older adults seeking abundant amenities and an active lifestyle.
AT LONG LAST, RATES ARE DROPPING
Consider these portfolio moves now that the Federal Reserve has cut its benchmark interest rate.