Yahoo Finance 7 Most Lucrative Side Gigs for Middle-Class Workers
You’ve likely heard of the popular options if you’re a middle-class worker looking to try a side hustle. With limited free time and energy, you don’t want to devote yourself to a side gig that isn’t lucrative enough for the trade-off. This is why we looked up lucrative side gigs that could be worth your time so that you’re compensated fairly.
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What are the most lucrative side gigs for people in the middle class?
Also check out 100 side gigs that can make you $100 a month.
Freelancing in Specialized Skills
“Leveraging professional skills — writing, graphic design, programming — on freelance platforms can provide a lucrative income source,” said Keith Ritchie, CEO at Prime Massage Chairs.
If you’re a middle-class worker, then chances are that you have developed skills that could be used to create a new income stream. You may not want to deliver food or fill out surveys, so it makes sense that you leverage your current skills to bring in some extra money.
Personal finance expert Erika Kullberg said, “Freelancing allows you to work on projects that interest you, set your own rates and manage your schedule according to your availability.”
The good news is that you can freelance at something you’re already doing in your day job to hone your skills and increase your income when you have spare time. You can also take on projects that interest you.
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Online Tutoring or Teaching
“With the rise of e-learning, individuals with expertise in specific subjects can offer tutoring services online,” Ritchie said. “This is not limited to academic subjects but includes hobbies or skills such as music instruments or photography.”
If you have hobbies or subjects you’re passionate about, you can create a side income stream by offering tutoring or coaching. You can pass on your knowledge and get compensated for doing so.
“Online teaching platforms such as VIPKid, Tutor.com or Skillshare allow you to connect with students worldwide and earn money from the comfort of your home,” added Kullberg.
You can test out different platforms to ensure you’re earning a decent amount of money for your work. Once you build up your portfolio, you can raise your rates as well.
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Open an Etsy Store
“Starting an online store or using platforms like Etsy to sell handmade goods can be a profitable venture,” Ritchie said. “This requires more upfront time and possibly investment but can turn into a significant income stream.”
If you enjoy designing digital printables or want to create homemade items, you can open an Etsy store to sell your products. This can be a lucrative side hustle if you create a product that has a high demand. The good news is that with digital products, you have to work on creating them just once and can then earn passive income.
Rental Income/Real Estate
“For those who can afford it, purchasing property to rent out, or renting out a spare room on Airbnb, provides a steady source of passive income,” Ritchie said. “This option requires more initial investment but can be a sustainable long-term income source.”
Real estate can be a lucrative side gig. If you live in a fairly popular area, you can list your space or invest in a space you would be renting out. This income will vary depending on the unit and the season, but you can make some decent money.
Kullberg added, “Whether you purchase single-family homes, multi-unit properties or vacation rentals, rental properties can provide a steady stream of rental income and potential tax benefits while appreciating in value over time.”
Here are a few other options for a rental income stream:
Invest in REITs
Invest in crowdfunded real estate projects
List your garage as a storage unit on Neighbor
Digital Content Creation
“Becoming a content creator — blogging, YouTube, podcasts — around a niche interest can generate income through advertising, sponsorships and merchandise,” Ritchie said. “This side hustle rewards creativity and consistency and has the potential to grow into a full-time endeavor.”
If you want to find a lucrative side gig and have the time to devote to a creative project, you can focus on growing a YouTube channel, an Instagram page or something in this field. While it may take some time to develop, the good news is that you can turn this into a legitimate business.
Thrift Store Flipping
“Tap into your inner DIY guru and transform thrift store finds into treasures,” said Kraig Kleeman, the founder and CEO of Z-Branding. “Have you ever seen those jaw-dropping makeovers on YouTube? You can do it, too. Hit local thrift shops, unearth hidden gems and give them a new life. Sell your creations on platforms like Etsy or Facebook Marketplace.”
This side gig brings in money and allows you to channel your creative side. You can increase your income once you figure out what to look out for.
Sell Your Stuff Online
“Declutter your space and make money doing it by selling your stuff online frequently,” Kleeman suggested. “We all have things lying around that we don’t need. Platforms like eBay, Poshmark or Mercari let you sell your pre-loved items. From clothes to electronics, there’s a buyer for everything. It’s a simple way to declutter while adding dollars to your wallet.”
Chances are you’ve accumulated stuff over time, and the good news is that you can get rid of this for a profit. You never know what those items around your home will go for online. You can start by looking through popular marketplaces to see what’s selling and the rates.
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