The top 1% of earners are getting a lot more of the pie. It’s reported that the top 0.1% of earners have seen their salaries increase by 40% over the past decade, and their average income now sits at $5,000,000 (or about $1,100,000 more than the average U.S. household). As a result, the wealthy are getting richer, and the poor are getting poorer. So what can you do if you want to join the 1%? (used to be 1%, but now it’s 1%). Here are 13 ideas for earning $1,000,000 in the next decade, as well as bonus ideas for earning $10,000,000 and $100,000
One of the most common questions lawyers get asked is “How much money do I need to save before I can start to invest in stocks and bonds?” So, here are 13 side hustles for lawyers (but by no means all of them).
As side hustles go, we’re pretty good at them. We’ve had a successful one going for the past 5 years, so we thought we’d share it with you. We focus on making our side hustle work for us, but we’d encourage you to think about ways you can take your hustle to the next level. This is a guide for the side hustle, so if you want money, go get it.. Read more about 13 best side hustles and let us know what you think.
Are you searching for some good side hustle ideas for lawyers?
Well, this post will show you 13 fantastic ways to make money as a lawyer, both passively and actively. If you’re looking for a change of pace from your full-time work, consider these side jobs for attorneys.
You may be looking for a side job to help you build money or pay off your school debt, which is looming over your head. (I know how you feel! I also studied law O O)
Regardless of your motivation, if you can use your legal expertise and devote some time to these top side hustles for attorneys, you will be earning money in no time!
Let’s go right to the point.
Summary of the 13 Best Lawyer Side Hustles
- Freelance Lawyer
- Assistant Virtual
- Writing for a living
- Create a blog dedicated to a certain legal topic.
- Make your own legal podcasts
- Purchasing Real Estate
- REIT stands for Real Estate Investment Trust (REITs)
- Stocks with Dividends
Some of the links on this page are affiliate links, which means that if you click on them, I may get a commission at no additional cost to you. I hope you find the information provided here to be helpful! Thanks.
For lawyers, these are the top 13 side hustles.
1. Self-employed lawyer
Freelance attorneys, sometimes known as contract attorneys, are self-employed lawyers who are bound by a written agreement.
If you’re a full-time lawyer with a strong desire to practice law but some spare time, becoming a freelance attorney may be one of the most effective and gratifying side jobs for lawyers.
A freelance lawyer may charge up to USD 77,572 per year, according to Zip Recruiter.
You will be able to improve your legal abilities and experience while also developing your brand as a freelance attorney. Here are some places to look for work as a freelance attorney:
2. A Legal Transcriptionist is a person who works in the legal field.
A transcriptionist translates audio and video data into text, which is an excellent way to make money with your listening abilities and one of the greatest side hustles for attorneys. A transcriptionist earns an average of USD 43,886 a year, according to Glassdoor.
You should do the following as a transcriptionist:
- Have a solid understanding of the language you’ll be transcribing.
- Have a keen sense of hearing
- Pay close attention to the details.
You might be a legal transcriptionist if you have a strong command of the language and a lot of experience in the legal department.
Because of the extensive knowledge of legal systems, court processes, and legal language needed, legal transcribing is one of the most in-demand specialties in the industry. Many law companies employ legal transcriptionists to assist them in converting audio recordings into text.
Following that, these papers are utilized to assist clients or to prepare for court proceedings.
A legal transcriptionist transcribes notes from attorneys, court hearings, witness testimony, and interviews, among other things. This is where having a keen eye for detail comes in useful, since the accuracy of the material being copied is crucial.
If you believe this could be the ideal side hustle for you, start by enrolling in one of the Best Transcription Courses, where you’ll learn all you need to know about being a legal transcriptionist and gain access to Transcriptionist Tools That Will Save You Time and Money.
3. Checking for errors
One of the greatest moonlighting occupations for lawyers is proofreading.
Many freelancers have used proofreading to supplement their income. A proofreader earns an average of USD 43,131 per year. I don’t know about you, but I think that’s a nice bonus on top of the money you earn as a lawyer.
Because proofreading is the last stage in the editing process, a proofreader ensures that a document is thoroughly reviewed, free of errors, and ready to be read by a broader audience.
You’ll need to be able to do the following as a proofreader:
- Have a thorough understanding of grammar, punctuation, and spelling.
- Have the capacity to concentrate for long periods of time
- Pay close attention to details and keep an eye out for mistakes.
- Having the ability to fulfill deadlines
Proofreading could be the side hustle for you if you were handed all the homework to be checked back in college or if your coworkers pass you any court proceedings to be polished every now and then.
If you don’t have any proofreading expertise, don’t worry; there are 27 proofreading jobs to try out and some of the finest proofreading courses to help you along the way.
4. Assistive technology (VA)
A virtual assistant is a person who does administrative and other work for a company, basically assisting you in growing your business from a distance.
Because you can connect to any company anywhere in the globe at any time due to technology and dependable internet connection, the demand for virtual assistants has risen.
Allowing yourself to work as a legal virtual assistant may be a legal side hustle that allows you to earn more money as an attorney.
Lawyers often employ legal virtual assistants to help them save time on mundane administrative chores. These attorneys may concentrate on billable hours while the legal virtual assistant handles administrative tasks, extensive research, and client calls.
Here are some businesses that are seeking for legal virtual assistants to get you started:
Take a look at some of the virtual assistant jobs for beginners if you want to try out this side hustle outside of the legal realm.
It is feasible to make money as a virtual assistant even if you have no prior expertise. Take a look at these two courses that will teach you all you need to know about being a virtual assistant:
Use your legal expertise to assist law students while also earning money.
Do you have any talents you’d want to offer law students to help them pass their exams? Do you have a strong desire to teach? Then this may be one of the most lucrative second careers available to attorneys!
You may recall how difficult it was to get through some courses as a law student. Give back to these students now that you’re a practicing attorney by developing courses or providing online coaching.
You may share your expertise in one of the following ways:
Look for part-time teaching opportunities at institutions. If you choose to do this, be upfront about your time flexibility. Are you available to offer classes on weekends? Would it be more convenient for you to teach once a month?
If sticking to a rigid academic schedule isn’t going to work for you, consider tutoring. You might instruct legal students on how to study for the Bar test, what kind of practice they should acquire, and how to manage their time while studying.
If tutoring appeals to you, here are some pointers to get you started:
Create courses on themes like legal test preparation, various ways of remembering, or even in-depth coaching on specific law subjects on sites like Teachable or Udemy.
6. Writing for a living
Freelance writing has become very popular throughout the world. Individuals are using remote employment to harness their creativity and share their views.
This is one of the most lucrative side jobs for attorneys!
From anywhere in the globe, you could write about anything. Now, I understand that thinking you can be paid to write may seem ridiculous, but trust me when I say that I am live evidence of it.
You may create a high quality and believable portfolio as a novice with no experience and begin pitching to different customers.
The following are some of the sites to search for writing clients:
This eBook on How To Become A Freelance Writer outlines realistic, easy-to-follow guidelines for becoming a freelance writer.
7. A Legal Blog with a Specific Purpose
I know it seems like everyone is talking about establishing a blog, but hear me out: this may be one of the most profitable side hustles for attorneys.
The passive money stream that comes into your account while you sleep is one of the greatest aspects about blogging. If you’re unsure how to start a blog, there’s a comprehensive tutorial on How To Make Money Blogging For Beginners.
Although it may be difficult at first, once you have excellent quality, SEO-optimized material up and running, you will be able to bring in a steady stream of readers to your blog.
Affiliate marketing is a great method to supplement your blogging revenue. What is affiliate marketing, exactly?
Affiliate marketing is a frequently utilized marketing technique by companies to increase revenue. As an affiliate marketer, you will advertise companies or goods on your blog, and you will be paid a set proportion whenever someone visits your site.
You may educate or offer some insights into becoming a lawyer on your blog by sharing your legal knowledge.
The following are some of the most well-known legal blogs:
Podcasts about a certain legal topic (number 8)
In 2020, over 100 million individuals across the world listened to podcasts on a monthly basis, with that figure projected to grow to 125 million by 2022.
This might be an excellent legal side gig.
If your podcast has 10,000 downloads per episode, you may expect to earn between USD 500 and USD 900 each episode as a podcaster.
A podcast is an audio recording that is used to inform or amuse listeners.
Because of its ease, many people utilize podcasts as a learning tool. You might be driving and learning how to start a company from the ground up at the same time!
As an attorney, you might create a podcast to provide legal advice and enable listeners to put themselves in your shoes. Your podcast might be on lawyer ethics, the future of law, or a guide for law grads on how to boldly go out into the world.
- What is your podcast’s goal?
- Who do you want to reach out to?
- Are you willing to put in the time to create a podcast?
If you’re thinking of starting a podcast, keep these questions in mind. The following are some of the recognized legal podcasts:
Learn how to create a podcast and acquire the finest podcast equipment so that you may share your ideas and voice with a big audience!
Youtube is number nine.
This famous video-sharing site, which has over 2 billion monthly active users, is a fantastic method to supplement your income.
You could create a Youtube channel on any legal topic you choose, or you could use it to show off your interests. David Freiheit, a former lawyer at a prestigious Canadian company, is now a full-time YouTuber! His interest in photography and filmmaking prompted him to create a YouTube account.
However, David has recently discovered that if he inserts a film or two on legal topics, the views seem to increase. His channel is now entirely devoted to legal problems, and he enjoys arguing cases and addressing social concerns with his viewers.
It’s not going to be easy to start a Youtube channel and make money from it. You’ll need to put in some time and work to develop your channel and attract some genuine viewers.
You may expect to earn between USD 3 and USD 5 every 1000 video views as a beginning Youtuber. Top YouTubers may make anywhere from USD 10 million and USD 29.5 million each year.
So, how can you profit from YouTube?
Here’s a brief rundown:
- Join the Youtube Partner Program.
- Make contact with Google Adsense.
- Use affiliate marketing to your advantage.
- Sell your goods or services.
If you’re still on the fence about establishing a YouTube channel, these legal channels may persuade you:
TikTok is ten.
This massively successful social networking site has over 689 million monthly active members and, sure, it can be used as a side business by attorneys.
You may earn money on TikTok in the same way you do on Youtube by selling your services or goods, collaborating with various brands and businesses, or through affiliate marketing. Unlike Youtube, however, TikTok does not share its ad income with influencers, instead paying them via a Creator Fund to TikTok users with over 100,000 followers.
These attorneys have already begun to make their impact on TikTok, and now you can join them! Check out the following accounts:
Real Estate is number eleven.
The entire point of real estate investment is to convert your home into a money-making engine. It’s a straightforward concept: you own a property, locate a renter, and rent it out.
Real estate investing is still one of the greatest side hustles and investments you can get your hands on, according to millionaires. This is why:
Over 35.9% of people in the United States rent instead of buying a home. Renting out your home, regardless of the kind, is a great source of passive income.
The rental revenue will be a regular cash flow that will wind up in your bank account every month after you’ve found the appropriate renters. This is an attractive option for anybody looking for financial stability in retirement or just want to build their money.
When the price of your home rises in the future years, this is known as property value appreciation. In the fourth quarter of 2020, home prices in the United States rose by more than 10.4%.
Even though it is difficult to forecast the value of a property many years in the future, history has shown that property values rise with time, resulting in profit for homeowners all over the world.
As an alternative, you may rent out your home as an Airbnb host.
Hear me out: over 60% of visitors now choose to stay in Airbnbs rather than hotels, enabling Airbnb owners to earn an estimated USD 924 per month in passive income.
Kevin Ha, a full-time lawyer, made USD 568.42 a month by renting a room in his house! Prepare your house with appropriate décor and practical furnishings, and be ready to profit from this lucrative legal side business.
If you’re concerned about converting your house into an Airbnb, here’s a simple method to earn USD200 using the additional room you have at home!
Real Estate Investment Trust No. 12 (REITs)
Investing in real estate investment trusts (REITs) is a way to generate income from real estate without needing to own a property. When a corporation owns and manages income-generating properties, it is known as a REIT. A business may possess a single property or a diverse portfolio of assets.
This option is excellent if you don’t want to deal with the hassles of owning and maintaining a home.
However, how can you make money using REITs?
Let’s suppose business A owns 10 separate buildings and actively collects rent from them. For individuals who have invested in these REITs, the rental payments are transformed into dividend payments.
Now if you’re interested in this kind of legal passive income, here are some of the finest real estate investing sites to get you started.
13. Stocks with Dividends
Is stock market investment one of the greatest side hustles for lawyers?
Yes, that is without a doubt.
Lawyers may augment their income by investing in dividend equities. What exactly are dividend stocks, though? Let’s start from the beginning.
When you purchase a business’s stock, you are purchasing a portion of the company. Let’s suppose you just bought a Starbucks stock; you now control a tiny part of the business since you just put money into it.
When Starbucks earns a lot of money and profits, a reward in the form of dividend yield will be given to everyone who owns the company’s shares. For example, if you hold 200 Starbucks shares and the business announces a USD 5 per share dividend, you would have received USD 1,000.
If you’re new to the world of dividend stocks, you’ll appreciate these dividend stock suggestions to get you started:
The following are some of the platforms where you may begin investing:
How Can Lawyers Supplement Their Income?
Making additional money generally boils down to one of two things: you either make more money or you learn to save and invest better, or both.
Anyone, regardless of their job, may benefit from this idea.
So, even if you’re a lawyer, there are methods to make more money, but first, you need to start looking at your work from a new viewpoint, which you can accomplish by doing the following.
- Improve Your Client Attraction
Have you come across customers who have unquestionably vexing payment habits? If your face is screwed up thinking about Patrick, who has been behind on his payments for months, it’s time to take action.
Improve your customer base.
There will be customers that are more than ready to pay you for your knowledge and guidance. Your duty is to better promote oneself in order to attract them. Create a good portfolio and get your current customers to write a review describing your service.
Post your work on social networking sites like Facebook and LinkedIn, and have your current clients testify to it.
Positive feedback on your work will most certainly attract additional customers, giving you the freedom to choose which clients you wish to work with.
- Services that are outsourced
To improve productivity, as popular author Tim Ferris claims in his book The 4-Hour Workweek, automate and delegate your duties.
Hiring additional assistance may seem to be a waste of money at first sight.
Having assistance with administrative tasks so you may concentrate on profitable billable services will, nevertheless, result in a higher payment. It’s a modest investment to make to guarantee you’re able to provide your customers with the finest job possible.
Here are several websites where you may hire a virtual assistant to help you with your administrative tasks:
- Work Efficiently
Humans are animals that stick to their routines. We often do things without thinking about them because we’ve developed a habit of doing so. When I arrive to work, I open my calendar, go through my to-do list, make myself a nice cup of coffee, and check my emails.
Every day is the same routine. Simply following these few steps puts me in a productive mindset.
Rather of putting in longer hours to get more work done, you may boost your productivity by concentrating on the important things. It will be simpler to track progress if you break down big projects into smaller chunks.
Set yourself up for success by following these 15 productivity suggestions and developing a routine that is unique to you and your working style.
Is it possible for a lawyer to have a side business?
Being a full-time lawyer, particularly if you’re operating your own practice, is no laughing matter. You can establish a side company as a lawyer if you have a clear goal, good time management, and concentration.
It is not necessary for your company to be founded on legal issues. You’re welcome to use your legal knowledge to build a company and increase your fortune. You may, however, establish a side company if you’re enthusiastic about making the best, fluffiest bread on the world!
Starting a new company may be both a frightening and thrilling prospect. Just get started if you’ve been thinking about it for a long. When it comes to starting a company, there is no such thing as a “right moment.”
Ask yourself the following questions before establishing a business:
- WHY are you launching a company?
- Are you prepared to put in the time and effort required to start a company from the ground up?
- Will you be able to put in continuous effort and persist even if you run across some roadblocks?
- Are you prepared to take on the burden of leadership and make critical business decisions?
Being an entrepreneur seems to be the rage right now; everyone is getting on board, and it may result into profitable side jobs for attorneys.
Have a clear vision of the kind of company you want to establish, do some market research, and determine whether this is the path you want to go.
What’s New at Counsel?
UpCounsel is a platform that links startups and small companies with competent and trained attorneys that can help them with any legal issues for a reasonable fee.
UpCounsel hires attorneys that have gone through a rigorous screening procedure.
The attorneys have an average of 14 years of expertise in the sector and come from top law firms or Fortune 500 organizations.
Every attorney’s profile may be seen if you want to check their years of experience and the areas they’ve dabbled in to see whether they can meet your legal requirements. Other clients’ evaluations and the attorney’s past work may also be seen.
Because the expenses associated with large companies are removed, UpCounsel is cost effective:
- There are no hidden costs.
- There are no partner costs.
- There are no office space utility costs to pay.
If you have a legal problem, publish your idea on the site, and lawyers that specialize in that area will contact you.
That concludes the discussion. There are 13 side hustles for attorneys to attempt in order to make extra money.
Working independently as a professional, such as establishing a side company for attorneys, has many advantages: you get to set your own prices, work flexible hours, and choose your customers.
It all comes down to whether you’re prepared to work longer hours to get more money. Whatever your motivation, I wish you the best of luck in achieving your goals with the list of side hustles for attorneys you’ve chosen!
For lawyers, these are the top 13 side hustles.
In 2021, the United States will have an estimated $33.4 trillion in GDP (Gross Domestic Product) and $1 trillion in debt. We are borrowing at the fastest pace in history and will be paying that debt for a very, very long time. There are a lot of different ways one could spend that money, but I’m not going to even try to list them all. Instead, I’m just going to write about one.. Read more about moonlighting jobs for attorneys and let us know what you think.
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