There used to be only a few ways for you to increase your earned income if you found that you weren’t making ends meet. You could ask your employer for overtime hours, allowing you to work up to an entire shift longer than your regularly-scheduled shift. You could also take on an entirely new second job. Or you could take the education/skills training path towards increasing your income.
While all of these ideas have worked in the past, they come with inherent challenges. You might not be physically able to work an overtime shift. Not only this, but many employers are cutting expenses by not offering overtime shifts. And what if you’re raising children? You’d have to either pay for childcare, or you wouldn’t be able to work beyond your regularly scheduled shift. This also addresses the problem with working a second or a third job for another employer.
And while increasing your education and job skills is always a great idea in theory, it might not be a path that’s available to you. You might earn too much income to qualify for financial aid, and you might not be able to afford tuition payments or training materials. Fortunately for you, there are ways for you to increase your income without leaving home!
There are plenty of call center operations that specifically hire work-from-home staffing. You could also join the gig economy, performing tasks such as delivering meals in your car, ridesharing, walking dogs, or running general errands. You’ll find yourself piecing together your gigs in order to see a financial difference, but these are all income streams that work around your schedule and your lifestyle.
Speaking of finding ways to increase your income that will be there for you in your later years, you should see what you can do about investing into a life insurance policy that pays annuity income. This would allow you to enjoy residual monthly income that you can count on for as long the cash value of the policy is available.
But then again, you might already have an annuity policy and you’ve found that you’ve outgrown the need for it. If this is the case, then reach out to a certified annuity sales broker to sell it for you. Keep in mind that a specialized broker is required by law to present your case before a judge who is able to approve the sale. But after you gain approval, you can receive a cash payout and stop paying your insurance premiums.