Making $5,000 per month is a respectable salary for most Americans. But earning $5,000 working for yourself at home? Some people argue it might be time to weigh dreams vs. reality.
Note: Some quotes in this piece have been lightly edited for grammar.
First Things First
The term “working from home” in this article refers to people who want to work for themselves. Remote work for an employer, which can easily generate $5,000+ per month, doesn’t count.
Hard Truth
“Nobody likes to hear the truth,” begins a commenter on Quora responding to the question, “How can I make $5,000 per month working from home?” They explain how most people in the world don’t make $5,000 per month, let alone maintain a $5,000 per month salary for years.
Listen Carefully
The dream-busting commenter says being astute with whom you listen to online is vital, recommending that people who want to earn $5k/month are better off ignoring YouTubers and influencers. “They don’t want to help you; they just want to make money with your views.” Another group of people you should ignore in their opinion? Cryptocurrency gurus.
Touché
When browsing online forums and websites about earning money from home, getting rich from cryptocurrency is often a common trend. Be very leery of such claims; you’re likely better off investing that money into education through a program that can help you gain the skills (such as computer programming) to earn money from home.
It’s Possible
Several people pointed out that making $5,000 working at home is possible, with sales being one of the most popular options to achieve it.
Case in Point
One commenter said that as long as you have money to invest, making $5k monthly is relatively possible in a short time. While they’ve tried Amazon’s FBA program and affiliate marketing, their fastest route to success has been dropshipping with eBay. They estimate that one needs about $20k per month in sales to generate $5k in eBay profit, although they encourage those interested to find an account manager to run the numbers for their eBay business-to-be.
Freelancing
Freelancing is hard work since finding and maintaining relationships with clients takes time, but some people can easily clear $5k per month doing so. If you don’t already have a higher-paying skill, such as in computer programming, video editing or web design, consider getting certified, making it easier to set higher hourly rates.
Other Earning Methods
Starting a YouTube channel, a blog, or participating in affiliate marketing are all ways to earn money from home. While earning $5,000 per month (and sometimes much, much more) is possible with any of these methods, they’re competitive fields and often require a year or more of work before generating an income.
Watch It
Anyone saying it’s easy to earn $5,000 per month from home is likely tricking you, warns one concerned commenter. They emphasize the word “easy,” believing many of these people “don’t earn this amount themselves and are just luring others in to sell their products.”
Work From Home Scams
The Federal Trade Commission (FTC) has an entire page dedicated to money scams, including work-from-home “opportunities.” The FTC warns people eager to make more money to “never pay money to earn money.”
It’s Personal
Should you encounter an opportunity to make money from home that doesn’t include legitimate avenues like starting a YouTube channel or a blog in WordPress, hold off on sending the company your personal information until you’ve done your research.
A Must-Do
As part of your company research, the FTC recommends Googling the name of the business with the words “review,” “scam,” or “complaint.”
The Bottom Line
According to one user whose comment was upvoted more than 3,800 times, making $5,000 per month from home “is not impossible, but it takes time.” There’s no better time than the present to give it a try, eh?
Source: Quora.
Jobs Paying Americans $100,000+ Per Year
Earning enough money to live comfortably is the epitome of the American Dream. Here are the jobs that can get you there, though an office is sometimes required.
16 Obscure and Traditional Jobs Paying Americans $100,000+ Per Year
Does a $170,000 Salary Make You Rich?
How much money do you need to make per year to be rich in the U.S.? Americans chime in with some intriguing and polarizing points of view.
Does a $170,000 Salary Make You Rich?
Top 10% Earners by State
Whether earning income in the top 10% of your state feels like a pipe dream or a plausible reality, one thing is certain: What constitutes a 10% earner varies wildly by state.
How Much Money It Takes To Be in the Top 10% By State
Most to Least Expensive States to Retire
Are you looking to move state borders during retirement? From Medicare contributions to taxes and housing costs, these are the best (and worst) states to retire from a financial perspective.
Most to Least Expensive States to Retire Ranked From 1 to 50
15 Millionaires Spill the Beans on How They Became So Wealthy
Want to become rich? One person asked millionaires on the internet to share how they became so wealthy, and this is how they responded.
15 Millionaires Spill the Beans on How They Became So Wealthy
