Are you in a full-time job search? Many job seekers who are, find that supplementing their income until they land their next job takes a lot of pressure and anxiety off of them and helps to build their confidence and keep their energy and motivation up.
You can create one or more temporary income streams using the following strategies:
- Management Consulting – Jobs in management consulting (according to the Bureau of Labor Statistics) have DOUBLED over the last 10 years. If you are experienced in your niche, this can make exceptional additional income! Guru and Elance are great sites for getting the word out and giving you the ability to instantly bid on projects. Flexjobs has an annual fee of $49, or you can sign up by the month – word from my clients is that this is an excellent site and resource. RealMatch is yet another option.
- Higher Ed Adjunct Teaching – Teach part-time in your area of expertise and get paid for it! Adjunct teaching is increasingly popular with state and local colleges as they do not have to cover benefits.
- Ebay/Craigslist – The business you can do using these mediums is pretty phenomenal. I know many people who generate significant passive income off these sites.
- Interim Executives – Many companies are looking for interim executives for various reasons. Most of the largest recruitment firms in the U.S., including Heidrick and Struggles, Russell Reynolds, Spencer Stuart and Spherion, now have specialized practice areas for interim executive placement.
- Corporate Project Assignments – Gear a version of your resume toward project assignments, highlighting the key skills/strengths you are really experienced in. This strategy appeals to companies (even for some full-time positions) because these positions don’t require automatic long-term commitments or benefit packages, and contracting projects can generally meet many corporate challenges at significant savings to them. The benefits to you are clear, including getting your foot in the door for more permanent work and giving you a chance to see if you and said company are a fit!
- Register With Your Local Temporary Agency – Employers hire entry AND mid-level professionals for project assignments through temp firms.
- Earn Income From Your Hobby – A few things I have seen people do in the past include selling fresh baked bread or veggies at their local farmers market, dog boarding, day care, ghostwriting, graphic design, selling antiques, equestrian lessons and photography.
I completely agree that there are not enough people saving for retirement. Some of the problem has to do with the fact that most small businesses do not even offer a 401(k) plan.Not only does more information need to be given to those that have a 401(k) option, but something needs to be put in place to make it more affordable for small businesses.There are other options and people should look at the benefits of annuities and other products, but most people won’t take the initiative.Thank you for your detailed information.