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7 High Income Skills That Can Make You Rich

Here is a list of the top high income skills that can make you a ton of money.

Here’s what you should know:
  • What Are High Income Skills?
  • Choose High Income Skills That Can Pay You In More Than Just Cash
  • Top 7 High Income Skills:
  • Music (Songwriting, Producing, or Performing)
  • Real Estate
  • Computer Programming
  • Managing Peoples Money
  • Get A Degree In A “High Income, High Job Growth” Skill
  • Marketing
  • Discipline

A high income job can earn you a lot of money, but it’s the skills that land you that job.

This list is “nonemployer dependent” – meaning you can make a lot of money with these skills, with or without being traditionally employed.

What Are High Income Skills?

High income skills are skills that are very valuable to the marketplace. Skills people will pay you top dollar for. You can apply them anywhere, whether you’re working for an employer or working for yourself.

“We get paid for bringing value to the marketplace. It takes time, but we get paid for the value, not the time.” – Jim Rohn

Related Article: 10 Of The The Highest Paid Jobs (Without A Degree)


Choose High Income Skills That Can Pay You In More Than Just Cash

If you want to get rich off the skills you possess, you need to choose something that can pay you, for both, your time now and your contributions later.

These types of skills can pay you in things like cash, company equity, stock, royalties, sweat equity, etc.

Examples:

  • Writing code for an app in return for getting a stake in the company.
  • Writing, producing, or performing music and getting paid royalties for your intellectual property contributions.
  • Managing people’s money and getting paid a percentage of the ROI you made for the client.
  • Using your valuable set of skillset, by putting in the sweat equity, to start your own company.

Tip: Use the ways to use this skill section of each skill by doing a few of them simultaneously, which will expedite your goals of getting rich if that’s what you want.


Top 7 High Income Skills:

#1. Music (Songwriting, Producing, or Performing)

Whether you’re songwriting, producing, or performing the songs, having a skill in music can make you a lot of money or even rich if you have your business in order.

Not only will you get paid on the front-end, but also on the back-end through what’s called royalties.

Ways to use this skill:

  • Work on others music: Get songwritting and production placements on songs/albums through management and publishing companies like Electric Feel Entertainment.
  • Work on your music: Put out your own music independently though distribution, publishing, and licensing companies like TuneCore and sell your beats on YouTube until you start making enough money through your TuneCore.

Related Article: Royalty Income: 8 Types of Royalties (And How to Invest In Them)

#2. Real Estate

“90% of all millionaires become so through owning real estate.” Andrew Carnegie famously said back in the late 1800s. But with all of these new ways to get rich in the age of the internet, is real estate still the number one source of millionaires? The answer is yes according to millionaires today.

Getting skilled in anything having to do with real estate is one of the most lucrative skills to have.

As a skilled real estate investor you will need to understand the markets, understand the risks and rewards, analyze a property for cash flow, recognize an under-valued property, estimating rehab costs accurately, build relationships, etc.

Ways to use this skill:

  • Fix & flip: Purchase and renovate properties before flipping them for a profit.
  • Rentals: Buy and hold properties and rent them out for monthly passive income.
  • Real estate agent: Make 3-4% commission on each house you sell.
  • Wholesaling: Instead of flipping houses, flip contracts to investors for a fee.

Note: Many real estate agents are also real estate investors.

#3. Computer Programming

Computer programming is one of the most valuable and in-demand skills of 2020. It involves writing code, building computer/phone applications, etc.

Ways to use this skill:

  • Get employed: Land a high income job at a big tech company.
  • Company equity/stock: Code for a startup in exchange for an equity stake in the company.
  • Start a company: Build your own app and company.
  • Freelance: Freelance for clients on projects they need done.

#4. Managing Peoples Money

Managing people’s money, aka a portfolio manager, at an asset management firm can provide a very lucrative life if you can excel in this competitive field.

Portfolio managers are often paid 1-2% of the return on investment (ROI) they made for their clients. So if a portfolio manager manages 100m in assets and sees a 10-20% annual return, they can expect to earn $100-$400k per year.

Ways to use this skill:

  • Get employed: Get a job as a hedge fund portfolio manager at an asset management firm.
  • Start a company: Start your own hedge fund and find clients to manage their money for them.
  • For yourself: Use your investing skills to invest your own money in the markets.

#5. Get A Degree In A “High Income, High Job Growth” Skill

Sometimes getting a degree is worth it if 1) the job growth is projected to increase in the future and 2) the degree can pay itself off within the 6-12 year average.

Occupations with the most job growth: here

Highest paying occupations: here

Ways to use this skill:

  • Get employed: Land a high income job with your degree.
  • Consulting: Give your expertise to others.
  • Start a company: Start your own practice.

#6. Marketing

Marketing is the backbone of every business and frankly, the marketplace itself. No matter what you’re selling, marketing is behind all of it, and getting skilled at it will give you lots of value in the marketplace.

Ways to use this skill:

  • Consulting: Consult companies on ways to improve there marketing and ROI.
  • Get employed: Work for the marketing department of a company.
  • Freelance: Do the marketing for clients in whatever they need.
  • For yourself: Apply your marketing skills to grow your own company, freelance work, consulting, etc.

#7. Discipline

Discipline is a soft skill, but one of the most important skills you can develop, nonetheless.

You can develop and master all of the skills above through formal learning, online courses, YouTube, etc – if you’re willing to put in the work and be disciplined. Because without developing discipline, you can never fully develop any hard skills that the discipline and focus to master them.

No matter what skill you decide to get good at, discipline is the skill that will make everything possible if you want to get rich. Discipline will push you to keep improving, keep learning, and keep getting better.

Discipline is formed out of habit. So, the more you work on the skills you want to get good at – the more discipline you will become.

“Discipline is the bridge between goals and accomplishment.” – Jim Rohn