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Ride-Share Driver
Ride-share services have taken off in popularity since the first Uber trip in 2010.
On average, ride-share drivers make $21 per hour in the U.S. Because drivers are independent contractors, they dont get benefits or retirement plans and must pay their own taxes.
This means they need additional ride-share insurance.
To reduce taxable income, drivers should save receipts and track expenses.
Things like mileage, maintenance and cellphone usage are tax deductible.
Drivers can also save money by finding insurance providers that bundle their personal auto insurance with ride-share gap coverage.
These positions are excellent choices for thoselooking for jobs with low barriers to entryand a flexible schedule.
However, having a long career as a restaurant server can make saving for retirement difficult.
In the U.S., restaurant servers average a low wage of $14 per hour.
However, in most cases, servers receive tips that boost their incomes.
While this results in more money, it also brings uncertainty.
Also, restaurants dont usually offer benefits or retirement plans.
Restaurant servers should open Roth IRAs to maximize retirement savings.
A Roth IRA allows servers to contribute and invest a set amount of after-tax dollars each year.
When the server retires, they can withdraw from the Roth IRA without paying taxes.
While thepay for each jobvaries, seasonal workers face common challenges.
Employers usually dont give benefits to seasonal workers, and there isnt much job security.
This process can continually increase your gains, earning you money without doing anything.
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