7 Ways To Get Rich With a Part-Time Job
Written by
Brooke Barley
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Amber Barkley
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Is it possible to get rich, but not work full time? Some experts say it is.
More than 27 million people work part time in the United States, and there’s some good news for them when it comes to building wealth. Though it might not be the easiest or most direct route to riches, there are some methods to making money while not putting in 40 hours a week. Here’s how.
Sales Representative for High-Commission Products
If you’ve ever been told you were charming, sales might be the answer. And, it could be a career that you only work part-time if you’re good at it.
“While most sales reps work full time and earn around $75,000 annually, those who market high-commission products can become rich by selling a few products a year,” said Nathan Brunner, CEO of Salarship. It especially helps if you’re well-connected to wealthy people in your community. “Take the example of private jets. Some programs pay up to $100,000 each time a salesperson refers a customer. In this case, salespeople with an address book of wealthy clients can earn an annual salary in just a few meetings.”
Consulting
Have you been working full time in an industry for a significant number of years? Your wealth of knowledge in that field could be very valuable.
“It is possible to get rich working part time as a consultant if you are an expert in a very lucrative industry,” Brunner said. Think tech or another area of expertise where people are often seeking assistance. “I’ve seen companies willing to pay consultants $250 to $500 an hour because they couldn’t fix a technical problem in their IT infrastructure or because they had an issue in their production lines,” Brunner added.
Ankit Dhadwal, the director at Mount Shine, says having digital marketing skills can come in handy for consulting, as well. “With the rise of YouTube in this era, [knowing] YouTube video marketing is a bonus skill. There are so many people who struggle to grow their channel, and providing them services can be a big advantage.”
Real Estate
“The most effective way to build wealth part time is real estate,” Steve Davis, CEO of Total Wealth Academy, advised. He said that, if you have the money to invest, once you educate yourself on the best practices of real estate, you can work as little as 10 hours a week making really good money. “Every dollar you put in real estate makes you money in four ways: cash flow, equity capture, equity build-up and appreciation.”
Managing Others’ Properties
If owning properties isn’t in the cards for you, that’s okay. You don’t have to own property to make money off it. Dhadwal recommends working for a few people who own property and managing it for them. Just a few of these clients could make you enough money to not have to work full time.
“Many people buy properties [and] need someone who can take care of their properties, manage them, collect rent and maintain every aspect of it. The fear of losing a job after a few weeks is also not there, because managing real estate properties is a long-term project,” Dhadwal said.
Automating Business Functions with AI
If you’re already working on building a business, or plan to in the future, Dhadwal says AI can save you a lot of time. “For example, letting ChatBot handle all the customer queries and solve their problems can save a lot of time and money.”
He also recommends building an AI tool that runs a social media campaign, so you don’t have to spend so much time building your own campaign.
Investing in the Stock Market
Adebayo Samson is the founder and CEO at Academicful and says that the key to building wealth without putting in a ton of hours is to create streams of passive income, like buying and selling stock.
“Such investments have the ability to generate reliable streams of income with minimal ongoing effort,” Samson said. “By making smart investment choices, individuals can gradually build their wealth over time and enjoy financial rewards even when they are not actively working.”
Becoming a Hand or Foot Model
Lend a hand (or a foot) to a business and you could be pulling in the dough. “There are many advertising companies that require people with good hands or feet to showcase their products,” Dhadwal said. He said that some companies will pay up to $1,300 a week for attractive hands and feet to show off their products.
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