Use a Personal Website in Your Job Search
If you’re job searching, you may consider having more than a paper resume. Graphic designers and other creative types have been using personal websites for years. Today, the idea is becoming more popular.
Two reasons stand behind this. The growing interest in remote work makes online communications more crucial. You will find that simple templates make it easy for anyone to produce a professional looking site without having to go to coding camp or art school.
Impress prospective employers and stand out by showcasing your qualifications in a personal website. Consider how to create and promote your personal website.
Create Your Personal Portfolio Website
Promote Your Personal Website
A personal website could make your next job search faster and more successful. It’s one more tool that helps you stand out from the crowd and show an employer how much you have to offer.
Pharmacist resumes must have information of your experience relevant to the position in a quick and clear format. You already know employers are only interested in a highly qualified pharmacist with a customer-friendly attitude.
Apart from highlighting your qualifications, contact information, experience etc, the following points will provide a hint on how to prepare the resume for a Pharmacist position.
Use important keywords in your resume (i.e.: pharmacology, dispensing and compounding, medication therapy, pharmaceutical research, and in specialty areas like acute and critical care, ICU, nuclear pharmaceuticals, and retail etc.
Narrate some of the main reasons why you should be called for the interview. For example:
Mention how you have reduced costs and saved money in your department or the organization in general. Highlight any other achievements that have benefited your department and your organization in general.
Learn how to make your resume stand out. Below is a video of a sample Pharmacist CV for your review.
There are many jobsearch sites readily available at our fingertips. Use "find a job near me" and you will quickly find a variety of josearch sites. All a person has to do on any of the jobsearch sites is open an account, fill up the necessary fields, and submit his/her resume.
Jobsearch sites usually ask for pertinent information such as the person’s name and contact information. They will also ask jobseekers to add information about their educational background. Most importantly, employment history has to be mentioned which includes the job description and highlights the experience and accomplishments during a person’s career.
A section in the account will also ask the preferred industry of work, if the person is willing to do field work or open to relocation and the expected salary, should one be accepted for the job.
With all the information provided, jobsearch sites will then match your qualifications with the jobs available. This service is free and matches can be seen when the person logs on the account or gets a notice via email. CareerBuilder is a good example of this service. Don't forget to log into Indeed. Indeed is another good example.
Below you will find various tips for making the most of your online job search. You will also note a list of jobsearch sites at the end of this article
Help Emloyers Find You
Always post your resume online. A study by ComScore found that job seekers who added their resume to an online database were twice as likely to receive a job offer than those who simply applied to specific positions. Always keep in mind that many employers never advertise their openings, preferring instead to search a pre-screened database of applicants. Employers overwhelmingly prefer this method to the alternative of advertising a position online and being flooded with hundreds of unqualified applications.
If your resume is not in the database that your dream employer is searching, you’ve already lost out. You should also review the 12 ways to ensure that your resume gets read.
See What Employers See
Many online job boards have a section of their site where potential employers can conduct a free test search of their resume database. Before you post your resume online, use this feature to search for the type of job you want.
There are at least three advantages to doing this:
Save Your Money
Some sites offer a service with a fee that will place the resume over other applicants giving that person more priority. But that is not a guarantee that the jobseeker will be hired anywhere.
Don’t waste your money. First of all, you have no way to measure how much higher your resume will rank over non-paid resumes. Second, for the most competitive fields, thousands of other people have purchased the same package, defeating their purpose. Third, the biggest online job boards have publicly acknowledged that simply changing one word of your profile or posted resume on a regular basis will have the same effect (essentially getting you the outcome of the paid service for free.)
Protect Your Identity & Privacy
Unfortunately, jobsearch sites have become a favorite way for scam artists to find victims. To protect your privacy and identity while still effectively making your credentials available, consider these steps:
Always Complete the Online Profile
Always complete the online profile (in addition to attaching your resume). Why? Because when employers search the resume database, your profile is searched and shown before your resume. In fact, an employer won’t see your resume at all unless they first click on your profile and then scroll all the way to the bottom of the screen (which many won’t do).
Knowledge is Power. Make sure you use it in your career search and don't fall through the cracks.
The list below includes a wide selection of 62 jobsearch sites with various services for different needs and requirements.
Applying online is not only done through job sites. You can also check the websites of companies that usually have a section on careers to see what openings are available. You simply have to go through the process of giving certain information and uploading your resume.
How To Ask For Informational Interview
As we are going through The Great Resignation, many are considering the cost of a career change and looking for resources to help them learn about other related aspects of a career change.
If you’re also thinking about changing careers, talking to someone who does the job you’re interested in can give you insight into what you will — and will not — like about your desired job.
For someone who hasn’t interviewed for a job in a long time, an informational interview can also provide valuable practice before applying for jobs and going on interviews.
Informational interviews (also called information sessions, informational meetings, or research interviews) are interviews that are conducted to gather information to help prepare for a job interview and/or learn more about a specific job, industry, or company.
However, an informational interview is not a job interview, and should not be confused with one. With an informational interview, you’re not seeking a job — you are seeking information to help you get a job.
Anyone can conduct an informational interview, although they are most commonly used by new graduates and perhaps those who may feel they have been on a wrong career path.
Below is a sample scenario to demonstrate "how to ask" for an informational interview.
Asking For an Informational Interview
If there is a company you’d like to work for, use this script to ask for an informational interview. This can also be a script if you identify a contact who can give you information or help you network to a job.
Make the Call:
Hi! My name is (your name) and I was given your name as the person who oversees the (name of) department or hires (job titles).
[If you were referred to them by someone, mention that. Or, if you have something else in common — like your alma mater or a professional association, use that as your lead-in.]
I’m looking to make connections in the ____ field. I know you’re not currently hiring, but I was hoping you might be able to provide me with some advice.
Would you mind if I asked you a couple of questions?
[If no, ask if you can schedule a time to talk to them later.]
[If yes, give a quick summary of your background and qualifications and then ask one or more specific questions]
Thank you for your time.
How It Might Sound:
You: Hi! My name is Melanie McIntosh and we’re both members of the Public Relations Society of America (PRSA). I’ve seen you at a couple of meetings, but we’ve never formally met. I’m looking to make connections in the public relations field. I was hoping you’d have a couple of minutes to provide me with some advice. Would you mind if I asked you a couple of questions? I promise I’ll keep it short.
Contact: Sure, I’ll try to answer a question or two for you, if I can.
You: I’ve worked with a couple of agencies — I’m currently a PR Specialist with Be Bold PR and previously worked as an Account Executive for Stronger Brands for five years before that, specializing in pitching, account service, and media relations. I was wondering how your agency typically fills positions when they come open. Do you hire from within, do you advertise them, or do you work with recruiters?
Contact: We usually put up postings on the PRSA job board, LinkedIn, and Indeed. We also work with recruiters — usually PR Talent and Recruiters Inc.
You: Great. Can I ask how you got hired at Phantom Public Relations?
Contact: One of my former bosses came to work here and he hired me away. They actually created a job for me, and then I was promoted into my current role two years ago.
You: That’s great. I see from your LinkedIn profile that you’re well connected in the industry. Do you happen to know of any companies that might be hiring PR Specialists focusing on agriculture and farming clients? That’s my specialty.
Contact: I don’t know of anyone specifically who may be hiring, but I am friends with Simon Bass over at Waypoint Communications and I know they have a couple of ag and farming accounts. You’re welcome to drop my name if you want to ask him about openings.
You: Thank you. I really appreciate it. One last thing: Is there anything I can do for you? I really appreciate you taking the time to talk to me today.
Contact: No, I can’t think of anything. But do say hi if you are at next month’s PRSA meeting.
You: Will do. Thanks again.
Having “inside information” about a company you’re interested in working for, or about a specific job you’re applying for can be very helpful throughout your job search. Getting "inside information" is the purpose of an "informational Interview". Hopefully the sample scenario above will help you to effectively leverage this strategy.
Job Relocation Checklist: Moving For Your Career
It’s hard enough crafting your resume, searching for jobs, writing cover letters (relocation cover letter examples) applying, interviewing, and changing careers. When you decide to take a job in a new city, you’ve opened up a whole new set of challenges. While relocating for a job can be a fairly intimidating, life-changing shift, cities around the world can provide countless opportunities that your hometown may not offer. That said, you’ve done the hard part — you’ve made the tough decision. Now it’s time to take the leap and make a smooth transition into your new career in a new place. If this is the first time you’ve ever moved for a job, the checklist below will help you prepare for this new chapter.
Discuss A Relocation Package
Before signing any offers, know that some companies provide relocation assistance for new employees. This might come in the form of a lump sum of cash, reimbursement, or through a third party. You can inquire about and negotiate terms with your employer before moving. These agreements may include:
Visit Your New Company and Town
Free visits may also be included in your relocation assistance package. How will you know if this is the right career move or the right city for you if you’ve never been there? Your employer wants you to be confident in your decision to relocate, so some will fund a visit. Tour the building and speak to potential coworkers to get a feel for the job. Also on this visit, you can explore the surrounding neighborhoods, restaurants, and activities to make sure this is a place you’ll want to live in long-term.
Before you start packing boxes, make sure you have a place to live in your new city. Do your research to find a safe and suitable neighborhood for you and your family. Then, search for houses for sale in your desired neighborhood and work with a REALTOR® to schedule tours. If you’re struggling to find a home, don’t worry. Oftentimes, companies will offer to find or fund temporary housing for new hires and their families until they can establish a permanent residence. So, feel free to reach out to your employer for assistance or to take advantage of their connections with local moving services.
Network In Your New Community
A new career comes with a whole new collection of people to get to know, bounce ideas off, and seek guidance from. Expand your network by introducing yourself to your new coworkers and taking advantage of any opportunity to be involved. Join groups or organizations and attend events within your field to network with other professionals, especially if you’ve accepted a job in a different field. Lean on your teammates and look for chances to learn and grow.
Moving for your career can be a scary decision to make, but with the right amount of research and preparation, you can walk into the first day worry-free and ready to kickstart your career.
Jobs In Retirement
Do you go online and search for Jobs for retirees near me? If you’re a retiree looking for another job to help shore up your bank accounts or buy something extra, or just to be around people, these options might work for you. Remember that you can change your entire direction if you want to, or you can leverage what you learned working and become a Consultant. These twelve great jobs for retirees will make you want to get started now and you can easily start near you.
1. Photographer – You can become a Photographer in a few ways. Many companies that need someone to take school pictures offer equipment and training for people. But you can learn to become an adequate photographer on your own today by taking a class through LinkedIn Learning, Udemy.com, or even locally.
2. Temp Event Staff – In your local area, there are probably events that need people to handle a lot of set-up, teardown, and organization such as parking. You can sign up for these types of jobs through various temp agencies in your town or go directly to the venue that puts on the events to ask.
3. Substitute Teaching – Even if you have never taught or have a degree, in some locations you can become a substitute teacher. You must seek proper training and you will find that your new skills are always in high demand. A good sub can work full-time hours in a large district.
4. Child Care Provider – Another way to be around kids and make some money in a job for retirees is to work at a daycare center or start your own daycare in your home. If you work at a center, you’re likely to make minimum wage, but you can often arrange to work only a couple days a week in the room you want to work in, such as the infant room.
5. Freelancer – Another way to work is to become a freelancer. You can work online as a virtual assistant, content writer, graphic designer, and other positions as a freelance contractor for a variety of business types.
6. Drivers and Delivery Drivers – Rideshares and personalized delivery are very popular right now. They give you an excellent opportunity to make money in your retirement, working only on the days you want to work. Sign up with Instacart.com, Uber.com, Lyft.com, and others to find out more.
7. Life Coach / Consultant – There is a massive opportunity for you to use the experience you already have to help others. You can become a business consultant if you have that experience or you can become a life coach assisting others in succeeding at something you did.
8. Pet Sitter and House Sitter – Do you love pets and you want to choose your own hours? You can start this as a side business if you want flexibility. You can also find plenty of jobs run by others who need help and make about $18 to $20 an hour.
9. Author / Writer / Blogger – If you’ve ever dreamed of becoming a writer, there is more opportunity than ever today. You can write your book and publish it on Amazon. Their Amazon Kindle Direct Publishing is free. You can publish straight to Kindle, and with just a little bit more work Amazon will also publish your books in print. You can also write for the internet as a blogger or for clients who need website content.
10. ESL Teacher – Companies like VIPKid.com allow those with teaching experience of any kind to sign up and teach English to children all over the world. You do need a college degree.
11. Real Estate Sales / Property Management – There are many opportunities in real estate, from sales to property management. You can even manage other people’s rentals; it’s up to you what you want to do.
12. Insurance Sales – It’s relatively easy to get a license to sell life insurance and liability insurance. Plus, it pays residuals. Many retirees like getting involved in this second career, which is very helpful for building a better portfolio.
These great jobs for retirees are opportunities that you may not have considered. Before you run out and get a job, consider the lifestyle you want to live first. It’ll help you make a good decision about the job.
Resume Follow Up Call
You have sent your resume in response to a particular job advertisement and you are interested in the job, but you are not sure how to follow up, what to say, or even when to follow up.
Situation: Resume Follow Up
Use this script to follow up after sending a resume to see if interviews are being scheduled.
Make the Call:
Be prepared to leave a voicemail message if you don’t reach the person directly. Be sure to leave a phone number, but know that you may not get a callback. If you leave a voicemail, follow up 2-3 days later with an email.
Hi! My name is (your name).
[If you have a mutual connection or were referred to the position by someone specific, mention it. For example: “Jane Jones suggested that I speak with you.” People are more likely to take the time to talk to you if you mention a mutual friend or acquaintance, so always mention the common connection.]
Do you have a minute?
[If no: “When would be a good time for me to call back?”]
I submitted (my resume/an application) for the position of (name of job) on (date).
(Provide a one- or two-sentence summary of your qualifications and what you can offer to the company in this role.)
I wanted to make sure you had everything you need from me to consider me as a candidate for this position. And I wanted to ask if you have a date when you expect to start interviewing for this role.
[If yes: Thank you. I appreciate the opportunity to talk with you today.]
[If no: Is it okay if I check back with you in a (timeframe – for example, a week)?”
How It Might Sound:
You: Hi! My name is Jim Adams. Our mutual friend, Jane Jones, suggested that I speak with you. Do you have a minute to talk right now?
Hiring Manager: Yes, but I have another call in 5 minutes, so I’ll have to make it quick.
You: I understand. This will only take a minute or two. I submitted my resume for the Public Relations Specialist role last Tuesday. I’m currently working for Acme PR and, as you require, I have 10 years of experience in pitching, account management, and media relations. I wanted to make sure you had everything you need from me to consider me as a candidate for this position. And I wondered if you have a date when you expect to start interviewing for this role.
Hiring Manager: No, we’re still accepting applications at this time. If you submitted your application online, I’m sure I have it, but if you want to send your resume to my email, you can do that too. My email is KarenSampson@macpr.com.
You: Ok. Would it be okay if I also check back with you again at the end of next week?
Hiring Manager: Sure.
You: Thank you, I’ll check back in on the 15th then and I’ll email you my resume. Thanks for the opportunity to talk with you today.
Job Hunting Without A College Degree
Are you tired of reading job ads that sound like a great match for you, only to find out that they require a college degree? You might start feeling like you’re the only one who didn’t finish college.
The truth is that you have plenty of company. Two thirds of American adults lack a bachelor’s degree, according to the US Census Bureau. While higher education is enriching, it can also be difficult to afford.
You can have a satisfying career without a four-year degree. Learn how to continue your education or find high paying jobs with the qualifications you have now.
Finding Jobs That Don’t Require A Bachelor’s Degree
A growing number of employers are reconsidering the degree inflation that occurred in recent years. Some major companies no longer require a bachelor’s for certain positions. You can find many opportunities if you know how to look.
Keep these tips in mind:
Continuing Your Education
Of course, you may want to continue learning for your own personal and professional reasons. Additional studies look impressive on your resume as part of your accomplishments and help you to lead a richer life.
These activities will help you to continue learning:
Bill Gates and Mark Zuckerberg are just two famous examples of how to succeed without completing college. Higher education can be an excellent investment, but there are other paths to a rewarding career and meaningful life.
How To Find Contract Work
One out of every eight employers utilizes temporary or contract employees. It is estimated that between 17 million and 41 million people work as consultants, freelancers, contract workers, temporary employees, seasonal or on-call workers, and interns. About 15 million of those are considered “full-time independents,” working more than 15 hours a week.
On September 25, 2020, The Federal Register published Independent Contractor Status Under the Fair Labor Standards Act. It explained that MBO Partners, a leading American staffing firm, finds that almost half of U.S. adults — 47.8 percent — report either currently working or having worked as an independent worker at some time during their career. Over the next five years, this number is projected to increase to 53 percent of the workforce either currently working as an independent worker or who will have worked as an independent.
Independent work — in particular, contract work — is attractive to individuals who are looking to return to the workforce while or after caring for children or aging parents and those who are looking to transition from full-time employment into semi-retirement. It’s also increasingly an option for those who are starting their careers.
This is supported by the statistics: Millennials — born between 1980 and 2000 — made up 38 percent of the full-time independent workforce in 2019, according to MBO Partners’ “State of Independence” report. Baby boomers, born between 1946 and 1964, encompass 33 percent.
Temporary and contract workers are an important part of the workforce. Contract workers offer companies flexibility in staffing and help fill in gaps (especially in growing companies), to address seasonal needs, or when permanent employees are on leave, sabbatical, or vacation.
Contract and temporary opportunities are particularly attractive to jobseekers during recessions and economic downturns. For the jobseeker, the interview-to-hire process is often shorter, meaning you can be back to work more quickly. Even companies that have enacted a hiring freeze may still be taking on temporary or contract employees, because this money often comes from a different budget than traditional salaries.
Eighty percent of full-time independent workers are independent by choice. More than half say they will not go back to a traditional job. In addition, 53 percent of full-time independent workers report they feel “more secure” working independently. This is perhaps a reflection that even traditional employment has no guarantees of stability.
And a growing number of contract positions are for remote work, removing geographic proximity from the requirements for working these types of positions.
What Is Contract Work?
Temporary positions — or contract work opportunities — are an alternative to full-time, permanent work. Contract and temporary work can also be a side hustle to supplement your income. In 2019, 15 million people had a side hustle, an increase of more than 40 percent since 2016.
Contract workers may be self-employed or may be contracted through an agency. Self-employed workers are responsible for their own taxes, insurance, and benefits, while agencies often employ contract workers as W-2 employees (handling the billing, paperwork, and taxes for the contract employee).
There is sometimes a perception that contract work is only for low-paying, lower-skill jobs. This isn’t true. There are contract opportunities available for almost any field and industry and for a wide variety of positions — up to, and including C-suite roles. Contract work opportunities are common in creative service professions as well as the information technology, financial services, and healthcare industries.
Among full-time independent workers, the average income is $68,300, according to MBO Partners. This is higher than the median family household income in the United States ($59,039). About 20 percent of full-time independent workers earn more than $100,000 a year. In 2019, 40 percent of independent workers had a 4-year college degree or higher, including 17 percent who hold advanced degrees.
Jobs may be listed as “contract” or “temporary ” — but they’re not the same. Contract positions are for a specified time period. Temporary positions, on the other hand, may not have a defined time period. Temporary workers may be directly employed by an employer, or may be employees of a temporary agency. Contract workers, unless hired through an agency or consulting firm, are independent contractors. This means you are responsible for your own taxes, insurance, and benefits. In essence, you are self-employed and the company you’re working for is your client.
One important distinction between permanent and contractor or temporary positions has to do with the Internal Revenue Service. IRS regulations dictate that the employer cannot have as much control over how a contract worker does his or her job as it would with a permanent employee. While the requirements of the position don’t change if it’s permanent or temporary, the employer can’t define how the work is done by a contract worker.
Because it’s easier to find a job when you have a job, accepting a contract position makes you more attractive to prospective employers. In addition, contract work opportunities can often lead to a full-time, permanent position, especially if the opportunity is advertised as a “temp-to-hire” position. This type of arrangement allows a company to see if the individual has the skills, education, and personality the position requires before committing to a permanent position.
Advantages and Disadvantages of Contract Work
As with any type of position, there are advantages and disadvantages to contract work opportunities.
Where to Find Contract Work
Contract work opportunities can be found in many of the same ways as traditional job opportunities are found: networking, online job boards, and direct contact with prospective employers.
When searching for contract opportunities online, look to the traditional large job boards such as Indeed.com, SimplyHired.com, CareerBuilder.com, Glassdoor.com, and Monster.com. Use search filters to identify contract and temporary roles (not all job boards offer “contract” or “temporary” as search filters, but many do).
Also consider specialized marketplaces, like FlexJobs.com, Outsourcely, WorkingNomads.co, or industry-specific job sites like Mediabistro, ProBlogger.com, Dribble.com, or Authentic Jobs (for creative and media opportunities) or Dice.com or Stack Overflow (for technology positions).
You can also find online job boards specifically for remote opportunities.
Skip The Drive
We Work Remotely
Some of these sites require a subscription to access job opportunities, but may also offer benefits, such as access to education and training.
Not familiar with marketplaces in your target industry? Search for “contract work” + your industry or “freelance jobs” + your industry and see what comes up. For example, a search of “contract work” + public relations yielded several online sites, including RemotePRJobs.com (a subscription site) and PeoplePerHour.com.
There are also online marketplaces to match freelancers with opportunities. These include sites like Guru.com, Freelancer.com, and Upwork.com. Some of the gigs posted are extremely short-term (a one-time project, or a one-week project), while others are contract opportunities lasting 3 months, 6 months, or longer.
Search LinkedIn for contract work opportunities. One of the search criteria is “Job Type” and both contract and temporary positions are available in the search. (If applicable, also choose the “Remote” search criteria to expand beyond your current geographic area.) You can also check out Company Pages on LinkedIn and see what other companies LinkedIn recommends you connect with or follow.
Word of mouth is consistently reported as one of the top ways to secure contract work. Staying connected with previous co-workers and supervisors on social media ensures you are top-of-mind when a contract opportunity comes about. If you are unemployed, be sure to let your network know you are open to contract work opportunities.
Another source of contract opportunities is previous employers. This is especially relevant if your current position was eliminated due to an economic downturn. Your previous employer may be interested in hiring you as a contract employee. The funding for this work may be available from a different budget line item. While you may not be able to get as many hours as you would as a full-time employee, you already know the job, and that makes this option attractive to your previous employer too. And you’ll be in a position to be re-hired full-time in the future if the economic situation changes.
There are a number of agencies and consulting firms that help connect contract workers with employers. Some of these specialize in particular industries, while others serve a wide variety of independent workers.
Business management firms for contract workers, such as MBO Partners, can not only help facilitate a match between a contract worker and an employer, but also help handle billing and paperwork related to contract employment. Some even offer the opportunity to participate in benefit programs, such as health insurance and retirement plans and/or offer liability insurance.
Some possible sources include:
Other firms act as the “Employer Of Record” (EOR) for companies, handling the administrative, compliance, and financial logistics for employing contract workers.
Some of these firms include:
Important Considerations for Contract Workers
As a contract worker, there are some things you may not have had to consider previously, but that need addressed.
Scope of Work Agreement (SWA)
One of the most important documents for contract workers is a Scope of Work Agreement (SWA). This written agreement outlines the details of the arrangement between the contract worker and the employer. The agreement should state that the arrangement is one between an independent contractor and the contracting company. The contract should also specify — in writing — what the specific responsibilities and deliverables are, including deadlines. The SWA may also outline the specific timeframe for the contract arrangement. It should also detail the amounts and timing of payments, including when payments are due, and what happens if payments are not made. Finally, it should clarify ownership of the work being performed. Does the contract worker or the hiring company own the work? Both parties should sign and retain copies of the SWA.
If the contract worker is functioning as a self-employed individual, there are several types of insurance to consider. In addition to health insurance, the contract worker may be required to show proof of liability coverage. In addition, if possible, the contract worker should obtain short-term and/or long-term disability coverage, although that may be difficult to secure and/or costly, depending on the type of work being performed.
For health insurance, consider procuring health insurance through the Affordable Care Act Marketplace at https://www.healthcare.gov. If you have recently lost your insurance coverage from a traditional employer, you may be eligible for a Special Enrollment Period outside of the annual open enrollment dates. Also, consider short-term health insurance plans, which provide more limited coverage but at a lower cost. These plans are available for terms of up to 12 months (renewable up to 36 months, depending on state of residence).
Liability policies may be available through your regular insurance agent or specialized agencies, such as Hiscox. In addition, some Employer of Record agencies offer liability insurance coverage.
One of the disadvantages to contract work is a lack of benefits — in particular, retirement and health insurance. In the same way that you should secure your own health insurance, you should fund your own retirement plan. One option is to open a Roth IRA, an individual retirement account that allows you to set aside money for your retirement that can be withdrawn tax-free, provided certain conditions are satisfied. The money invested within the Roth IRA grows tax-free. Contributions can be made at any age, as long as the account holder has earned income.
You do have to meet income requirements to contribute to a Roth IRA. In 2020, the income limit for singles is $139,000; for married couples, the limit is $206,000. The amount you can contribute to a Roth IRA also changes periodically. In 2020, the contribution limit is $6,000 a year for individuals up to age 50; those 50 and older can contribute $7,000. Almost all brokerage firms, banks, and investment companies offer a Roth IRA. Consult a financial advisor for specific information.
One of the biggest differences between permanent employment and contract employment is taxes. If you are employed through a staffing agency or Employer of Record, that organization may assist with tax compliance. If, however, you are self-employed, you are responsible for withholding and submitting your own taxes, including quarterly estimated taxes. You should consult with a qualified tax advisor to ensure you are setting aside and remitting the correct amounts to both the state and federal government.
The Future of Contract Work
Contract work is expected to continue to grow in the coming years, especially as remote work opportunities become more available. Technology increases the opportunities to not only perform job responsibilities but also find contract opportunities and handle the billing and paperwork associated with working independently.
Contract work is especially appealing to skilled professionals, aging baby boomers who are looking for more control over their time in their pre-retirement years, and millennials, who like the flexibility of contract work.
Employers also find a contract work arrangement to be beneficial, giving them access to skilled workers who want more control over their time and income. And because contract workers can be employed on an as-needed basis, it gives employers flexibility to respond to changing economic situations.
The future of work is likely to be more fluid. Instead of a series of long-term, permanent positions, workers may find themselves shifting between independent work and traditional employment. Some industries, such as the film industry, have provided a model for team- and project-oriented work for many years. Research suggests this is likely to become more common in other industries, such as information technology, healthcare, and government services.
So whether you’re considering contract work as a bridge between permanent positions or a new way of working, you’re part of a trend in the workforce.
Why losing your job could be a good thing
Whether you’ve already lost your job through down-sizing, redundancy, or any other reason, or if you’re under threat to lose your job, your first thoughts run from blind panic to anger, desperation, and all points in between, especially if you have a family and all the commitments that go with it.
It’s especially daunting if you’ve been in that position for a long time and assumed that you had that job for life. When it’s the only job you’ve ever known, finding out that your job has gone can be devastating.
Even if it’s a job that you’ve tolerated for years, when you no longer have it, you suddenly forget all the things you didn’t like about working there and remember only the good. It’s human nature.
But the feelings of loss, of being in free-fall, create feelings of doubt. And doubt can cause a huge loss in self-confidence at a time when you need it the most.
Rather than block out those feelings, acknowledge them, embrace them, and then let them go. They will not serve you in moving forward.
Keep in mind that many layoffs are activated by accountants - usually people you don’t know and have never met. They have no idea who you are, what your skills are, what your true worth is, and how your family might suffer from your job loss. They’re just doing the job that they’re paid for.
The accountants are simply moving numbers from one column to another on the balance sheet to keep the company solvent and in business. So, avoid wasting your time trying to figure out ‘why me.’ You are just a number to them and there’s no answer to that question.
Granted, it might be tough for you to make sense of the situation. But sooner or later, you know you have to get past it, over it, or around it, so why not make it sooner? Later has no merit at all, does it?
Here’s the truth. Losing a job is part of modern society. We live in a rapidly changing world, and this is just another kind of change, and change is the only constant we can truly expect.
Look around you. Everyone you know that has a job has come from some other workplace. And most of them ended up with a better job after their move! You can too!
Regardless of what happens to you, it’s what you do about what has happened to you that’s important.
So, although you didn’t anticipate this change, you can look at it as an opportunity to reinvent yourself, rethink, reset, adjust, and get a clear idea of not only what is possible for you, but what could also change your life for the better.
Have you ever had thoughts about a career change? It just might be the perfect time to consider one. It could be so much easier to make such decisions now that your old job isn’t holding you back from going after what you truly desire.
Could There be a More Perfect Time?
Think about it. Could there be a more perfect time to re-define what you want to do with your life and get clear on what’s important to you?
Follow these steps to plan your perfect direction:
Make copious notes for a week or more. Then go back and review. Notice where the commonalities are and make a decision to follow up on what gets your attention the most.
You may find a fascinating new direction to pursue!
Some people have found that losing their job was the very best thing that could have happened to them. Why not you?