Highest Paying Internet-Based Jobs/Businesses
Hello all,
I've recently become obsessed with the idea of working from home. Not because I'm afraid to go out into the world (or anything like that), but because I want 'home' to be a fluid place. I really, really like the idea of being able to live and work all over the world.
The best idea I've had so far is to get my PhD in clinical psychology and become an internet psychotherapist (yes, they do exist).
But I was wondering if any of you guys might have some more profitable ideas? I realize that it's going to be hard for me to get hired by a firm/company (wanting to do what I want to do), so we're probably mostly talking about entrepreneurship ideas here.
Thank you very much in advance for any input!
Best,
Jim
*P.S. - If I got my PhD from a top notch school, and could charge about $100 an hour, my salary might look something like this:
8 x $100 = $800/day
5 x $800 = $4,000/week
48 x $4,000 = $192,000/year (+4 weeks vacation)
How will you get clients if
How will you get clients if you will work for yourself and not for a firm which (presumably) already has a nice list of people who actually want this psycho therapy thing you speak of?
In theory, its a very nice amount to make. In theory.
Why not save up some money
Why not save up some money first?
Find some stocks that yield a relatively safe 6%- typically REITs and stable MLPs (which get taxed as ordinary income) are best.
Every $20K you sock away is $100/month. Save up $3.2M, and you can just volunteer every day and live on the dividends. Given your assumptions that you can earn $200K/year working 40 hours/week from just about anywhere, you should be able to pull this off in about 5-6 years of working at 80 hours/week in a stable, secure job and carefully saving. Then, you can work if you want to, or not work if you don't want to.
Work hard, play hard.
"How will you get clients if
"How will you get clients if you will work for yourself and not for a firm which (presumably) already has a nice list of people who actually want this psycho therapy thing you speak of?
In theory, its a very nice amount to make. In theory."
- It's really not that much different than a traditional psychologist graduating, starting his own practice, and then advertising it.
"Why not save up some money first?
Find some stocks that yield a relatively safe 6%- typically REITs and stable MLPs (which get taxed as ordinary income) are best.
Every $20K you sock away is $100/month. Save up $3.2M, and you can just volunteer every day and live on the dividends. Given your assumptions that you can earn $200K/year working 40 hours/week from just about anywhere, you should be able to pull this off in about 5-6 years of working at 80 hours/week in a stable, secure job and carefully saving. Then, you can work if you want to, or not work if you don't want to."
- Damn dude, sorry I offended you so much. Psychologists that graduate from the kind of programs that I'd be able to get into charge over $200 an hour as private practicioners. That's just reality.
Internet porn, the guys at
Internet porn, the guys at Reality Kings must be raking in the dough.
"Do whatever it takes to keep the legend of Wall Street as it was truly intended live on. When you think back on investment banking of the early 21st century, remember the heat—remember the passion. But mostly, remember the titans. " - LSO
Soul_Reaper wrote: Internet
Internet porn, the guys at Reality Kings must be raking in the dough.
Haha, you think so?
Jim Harbaugh wrote: - Damn
- Damn dude, sorry I offended you so much. Psychologists that graduate from the kind of programs that I'd be able to get into charge over $200 an hour as private practicioners. That's just reality.
Huh? Didn't mean to sound offended- as a thrifty dutch Calvinist, I'm just trying to offer you a better strategy. Work 80 hours/week at $200/hour, that's $800K/year, do that for four or five years, and you'll be getting more from dividends than you could by working 40 hours/week at $100/hour and live/work/volunteer however you want, internet connection or not.
If we want to improve on this strategy a little further (but with a drastic career change), why not just go into consulting or banking now? At $300K/year within a few years, you'll have saved up $3.2 million a year or two after you would be graduating from your PhD.
Oh well. I try to save 50% of my net-of-tax income every year. That way, whatever raise I get, I can tack on 3% right off the bat permanently from dividend stocks. Back in early 2009, that was more like 4% when utes, REITs, pharmas, MLPs, and oil companies were yielding north of 8%.
People say I'm crazy for making Wednesday Ramen Noodle lunch day- I think the crazy people are the ones who work longer than they have to to give them a lifestyle that doesn't make them any happier. You create frugal habits in your working years so you can reduce the cost of retirement (and increase your retirement portfolio) at age 35 so you don't have to work until age 50.
Work hard, play hard.
IlliniProgrammer wrote: Why
Why not save up some money first?
Find some stocks that yield a relatively safe 6%- typically REITs and stable MLPs (which get taxed as ordinary income) are best.
Every $20K you sock away is $100/month. Save up $3.2M, and you can just volunteer every day and live on the dividends. Given your assumptions that you can earn $200K/year working 40 hours/week from just about anywhere, you should be able to pull this off in about 5-6 years of working at 80 hours/week in a stable, secure job and carefully saving. Then, you can work if you want to, or not work if you don't want to.
Dude Illini,
I am on board with you most of the time, but I think you're pushing dividends on kids a little too hard lately. This guy, who I presume is in college, is trying to find out how to make a lifestyle choice work for him. Your solution - start with $3.2M. That's just not an option. If everyone started with $3.2M things would be easier for all of us.
I agree saving is great, but between your shoving dividend paying REITs and $100 loafs of bread at anyone who asks a question, I think you've gone a little overboard. Has someone peed in your kool-aid lately or what?
Illini - sorry man, i thought
Illini - sorry man, i thought you were being sarcastic. your idea is certainly worth consideration.
Quote: I agree saving is
I agree saving is great, but between your shoving dividend paying REITs and $100 loafs of bread at anyone who asks a question, I think you've gone a little overboard. Has someone peed in your kool-aid lately or what?
Ehh, I don't know. I just think the great American empire- particularly the gilded era we've been living in for the past 30 years- is coming to an end. That spells doom for American bankers and people planning on living more than $100-150K/year lifestyles.
People earning $100K/year straight out of college- or high six figures as twenty-somethings- aren't all that normal in the context of the country, the world, or even historically for folks in the top 0.5-1% of earners. 6% dividends are normal. P/Es of 10-15 are normal- take-home pay in finance isn't normal right now and we can expect it to continue declining for a number of years.
Winter is still coming- don't eat all of your acorns just yet. IMHO, the new normal for banking, PE, and trading is going to be worse than it is now as incomes move more into alignment with those of higher-end doctors, engineers, lawyers, and scientists.
Work hard, play hard.
accountingbyday
Why not save up some money first?
Find some stocks that yield a relatively safe 6%- typically REITs and stable MLPs (which get taxed as ordinary income) are best.
Every $20K you sock away is $100/month. Save up $3.2M, and you can just volunteer every day and live on the dividends. Given your assumptions that you can earn $200K/year working 40 hours/week from just about anywhere, you should be able to pull this off in about 5-6 years of working at 80 hours/week in a stable, secure job and carefully saving. Then, you can work if you want to, or not work if you don't want to.
Dude Illini,
I am on board with you most of the time, but I think you're pushing dividends on kids a little too hard lately. This guy, who I presume is in college, is trying to find out how to make a lifestyle choice work for him. Your solution - start with $3.2M. That's just not an option. If everyone started with $3.2M things would be easier for all of us.
I agree saving is great, but between your shoving dividend paying REITs and $100 loafs of bread at anyone who asks a question, I think you've gone a little overboard. Has someone peed in your kool-aid lately or what?
+1
Had to laugh at this one. Made some good points too.
close family friend does FP&A
close family friend does FP&A at a name brand firm..............hasnt been in the office in over 5 years, albeit he has been there for 12 years.
You're not going to book
You're not going to book every hour of every day, so don't assume 100 x 8 x 5 x 52 = OMG I'm rich!!
Start the company as a side project after work until it has a consistent cash flow that you are able to quit your day job. The internet is a place that HEAVILY relies on credibility. Unless you turn your company into a house hold name, charging money for hourly services online is very difficult to accomplish. I'm not trying to change your mind on the idea, but want you to be realistic about it.
You should look into creating modules for every patient scenario. Then automate the process where you arn't interacting with clients 1 on 1. This way you can charge a lot less or even make money off advertising, and it's a scalable business model that allows for much greater profits and doesn't need your attention 24x7.
jamar - what's FP and
jamar - what's FP and A?
shark - i dont think id have a problem getting clients if i got a top notch phd. outsourcing is worth consideration, but i dont think that people are going to be willing to pay money to get an automated response to their unique personal problems.
Do NOT do a PhD, unless you
Do NOT do a PhD, unless you are very interested in the field. PhDs are not easy to get. If your heart's not in it, then it will be very difficult to finish. Even if you do finish, those 5-6 years will be miserable. Besides, there are much easier ways to make $200K a year.
For my aspiring Entrepreneurial Nomads, check out my blog.
Article in the Economist
Article in the Economist basically said that a PhD was useless.
http://www.economist.com/node/17723223
If I had asked people what they wanted, they would have said faster horses - Henry Ford
FP&A = Financial Planning and
CompBanker
happypants - nice article.
Illini - Are you trying to
porn get mo money if you do
carbon wrote: Illini - Are
Work hard, play hard.
Jim Harbaugh wrote: jamar -
If what Illini says is true,
IlliniProgrammer
For my aspiring Entrepreneurial Nomads, check out my blog.
Quote: There are 2 things a
Work hard, play hard.
Illini - In an attempt to
IlliniProgrammer wrote: This
carbon wrote: What would you
Work hard, play hard.
IlliniProgrammer
baddebt88 wrote: Dude thats
Work hard, play hard.
Damn, if you think "times are
Well, it's mildly Ehrlichian.
Work hard, play hard.
IlliniProgrammer
Ok you win, even though your
baddebt88 wrote: I have seen
If I had asked people what they wanted, they would have said faster horses - Henry Ford
^ Yea, that's accurate.