How can you earn 50k per year from home?
Earn $50k per year from home by starting your own side business, providing services or selling products. Own a piece of a business or assets which continues to pay you just for being an owner. Use income from a business to purchase income producing assets to supplement a 50k salary.
Imagine, making $50,000 per year from home. You no longer need a boss or an alarm clock to make money.
Sounds wonderful, right?
Luckily for you, earning $50,000 per year from home is completely possible. Thousands of people are making money from home, so why not you? I’m going to show you some of the best ways to earn $50k per year.
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How to earn 50k per year from home
Earning $50,000 per year from home is done by starting a side business. Provide a product or service online and invest your profits into income producing assets, like dividend stocks. The combination of your side business and dividends can pay you $50k per year or more.
Selling products are for people who are tired of exchanging time for money. When you sell products, your earnings potential is uncapped because you can keep selling products. Depending on your business strategy, you may only need to create one product which can resell forever.
Providing a service can produce a profit very quickly. You are still exchanging time for money, but you’re doing it on your own terms. Most online businesses need freelancers, so your job is to offer your services.
Buying income producing assets allows you to grow your income. Your business might only generate $30k per year but you can invest that money to buy more income. Investing your $30k into a 4% yield dividend stock would make you an additional $1,200 per year.
Building income producing assets can be slow at first, but lead to huge profit potential. For example, blogs take a long time to earn money. However, successful bloggers will greatly increase their revenue year over year.
Your goal is to live on the combination of business income and income producing assets. Maybe your business earns $40k per year but your dividends are paying you $10k. Ideally, you’ll reach a point where you can live on your income but still invest.Click to Tweet! Please Share!Click To Tweet
Blogging can be a very passive way to earn $50,000 per year once you’ve built your blog. A blog takes a lot of work to build, but is low-maintenance once it’s built. However, blogging has a steep learning curve and can take 2-3 years to earn $50k per year.
For example, Zach from Four Pillar Freedom now earns $14k per month in ad revenue.
Zach owns a portfolio of websites which are all profitable. The first website took the longest to build, but the rest were easy once he figured out his system.
A typical website can earn around $1,000 for every 30,000 pageviews. Therefore, a blog wanting to earn $50k should have around 125k monthly pageviews. For most people, it will take between 2-3 years to reach that level of income and pageviews.
I know what you’re thinking, “2-3 years is a long time to wait. I’m tired of my job now.” Yes, that’s true. However, earning a significant income isn’t an easy task.
Personally, I know five years are going to pass anyway. I’d rather work towards building a full-time income through blogging and reap the rewards of early retirement. Blogging isn’t the fastest way to $50k, but it sure offers a lot of perks like location independence.
Sell products on Ebay or Amazon
Amazon and Ebay are perfect for anyone who’s not afraid to shop, find deals, and ship out products. You are selling real consumer goods that people want to buy. Working towards $50k in net sales may seem overwhelming, but it will happen with consistent effort.
I love selling products on Amazon because Amazon has thousands of hungry buyers. I’ve listed products on Amazon and watched as sales just kept happening. Personally, I haven’t sold on Ebay, but I’ve heard amazing things about Ebay as well.
Most items you sell might have between 15-25% profit. Therefore, to make $50k in one year, you would have to sell $200k-$333k worth of stuff. Monthly, you would have to sell around $16k-$28k.
I know that sounds overwhelming, but the right items do sell really fast on Amazon. Obviously, the more money you invest into the business the easier it will be to make $50k. However, you might want to start small to understand how Amazon and Ebay businesses work.
Freelance writing is one of my favorite side hustles for anyone that knows how to write a blog article. Bloggers everywhere need content because without content, they wouldn’t have a Blog! Eventually, every blogger gets to a point where they cannot handle the amount of content needed to be written on their own.
Therefore, freelance writers will always have a place on the internet. Finding a good quality freelance writer that can write an SEO optimized article is hard to find.
Most beginners in freelance writing charge between $0.05 and $0.10 per word. Articles range from 1,300 to 2,000 words on average.
I would venture to say, most publishers would be willing to accept a freelancer at $0.10 per word. Therefore, a 2,000 word article would earn you $200. To earn $50,000, you would have to write 21 articles at 2,000 words per month.
The real magic of freelance writing is when you know how to write articles very quickly. For some, a 2000 word article may only take an hour. Therefore, you are earning a $200 per hour rate.
Just like content writers, virtual assistants are also in demand. Content creators also need virtual assistants for a variety of tasks. As a virtual assistant, you may send emails, manage freelance writers, or any other task the company has for you.
The national average salary for virtual assistants is around $67,000 per year. How much money you make will depend on the number of clients and your rate. Therefore, make sure you have a competitive rate and focus on getting clients.
Social media manager
Social media managers are another online business where thousands of companies are in need of help. Most companies have no idea how to grow their social media accounts. In addition, these companies may get hundreds of messages a day.
Someone needs to manage these social media accounts and come up with content to post. Obviously, it takes a very creative type of person to meet the content needs.
The average salary of a social media manager is $45,000 per year. More experienced social media managers can make around $63,000 per year.
So how do you separate yourself from making $45,000 to $63,000? You need to be good at what you do. A good social media manager can grow a following rather than maintain it.
Remember, social media is a tool for businesses to reach an audience. A social media manager is responsible for that relationship with the audience. The more business a company can get from social media, the happier they will be with you.
Consulting is a very difficult, but rewarding career path. In order to be a consultant, you need to have a very good understanding and skill set in an area. The more value that you can bring to your customers, the more money you can charge for your skills.
Unfortunately, there are a lot of bad Consultants out there. Anyone with a website can claim to be a consultant. However, the Consultants who stay in business are the ones who know how to deliver results.
Maybe your main job is a physical therapist or Fitness coach at a local gym. You may know a lot about losing weight and coaching others through the process. Therefore, you might make a Consulting business helping people lose weight.
As part of your Consulting package, you might offer unlimited email support for $40 per month. Scheduling a zoom call might cost someone to $80.
In order to make $50,000 per year, you would need about 105 people signed up for your Consulting. However, that does not count for anyone that schedules a zoom call.
Provide a service
There are thousands of services people are willing to pay for over the internet. Not everything is going to be listed here on this article. However, what are you good at that people might be willing to pay for online?
Some people might be good at search engine optimization. Therefore, they may offer website evaluations to increase someone’s search engine rankings.
You might be very good at bookkeeping. There are lots of businesses out there who need bookkeeping services.
Services are one of the quickest ways to get paid when you’re working from home. Fortunately for you, the internet just provides a convenient way to make business connections.
Supplement with dividend income
Lastly, you should be taking your business profits and purchasing income. Most of the people reading this article will probably want to live off their business income. Your business income can only provide you with so much in the early stages. Dividend income can help make up the gap.
For example, earning $10,000 per year is $333k invested at a 3% dividend yield. Alternatively, AT&T is currently paying a 7% dividend yield, which means $10k is $143k invested.
I know it seems like a lot of money to invest for the dividend income. However, dividends will continue to pay to you year after year just for holding the stock. Dividends are simply a good way to supplement your income as you earn more.
Typically, I like to supplement with exchange traded funds or ETFs. VYM is the Vanguard High dividend yield fund which currently pays around a 3% dividend. Alternatively, VNQ is the Vanguard real estate fund which usually pays between 3 and 4% dividends.Click to Tweet! Please Share!Click To Tweet
Summary: How to earn 50k per year from home
As you can see, there are many ways to earn $50,000 per year from home. Typically, starting your own business to provide a service or product is the way to go.You can help reach $50,000 per year faster by investing your business profits into income producing assets.
Blogging, selling on Ebay or Amazon, freelance writing, virtual assistant, social media managers, Consulting, can make $50k per year.
Alternatively, you can determine your own service to provide. Think about what you’re good at and who might be paying for that service. Then, start tracking down your customers.
Making $50,000 per year isn’t an easy feat. However, you can invest your early profits into dividend-paying assets which can help supplement your income.