If you want to make big money cater to the rich. The wealthiest 10% of American households take home more than half the country’s total income, according to the Stanford Center on Poverty and Inequality. Those who figure out how to cater to the rich for services or goods could make a wealthy living in the new economy. Income inequality is likely to remain for years to come.
The first thing most people do when they get rich is sink a lot of money into a home. Contractors can cash in on building or remodeling luxury homes. If you don’t want to go through all the hassle of building homes, subcontractors can also cash in providing services like excavations, plumbing or electrical work.
Most rich people love cars, and when they get rich they head straight to buy luxury cars. The wealthy tend to prefer high-end European brands like BMWs, Mercedes, Jaguar, Land Rover, Aston-Martin, Bentley’s and Lamborghini’s. If you can get into one of those dealerships as a salesperson you might have it made.
Few rich people mow their own lawns or weed their own gardens. They hire landscapers to do the job for them. If you have a green thumb and like working outdoors this could be the answer to raking in big money, and it doesn’t take any real special skills or knowledge to master mowing lawns and pulling weeds.
Rich people work more than the middle class, averaging 60-70 hours a week so they don’t have time to take care of their pets. Dog walkers can make a good living, grossing as much as $100,000 a year. A pet setter feeds pets and takes care of them when the owner isn’t available or out of town.
Many rich couples work two jobs, so they don’t have that much time to take care of their kids. If you like caring for young children, then baby sitting or being a nanny might be the job. Persons with a college degree, particularly in education, or knowledge of a foreign language might do better at this career.
The rich want their children to go to the best universities, which requires good grades. Wealthy people might be willing to pay somebody, particularly those with teaching experience to tutor their children. Teachers with special education experience might have an inside track getting tutor positions.
Wealthy consumers are used to buying just about everything online, including collectibles and rare books. Their disposable incomes are often spent on hobbies and collectibles. If you have knowledge of collectibles, try buying up a few and reselling them on Amazon or eBay.
In the new economy the rich don’t have the luxury of being fat. Out-of-shape rich people get laughed out of the country club and the executive suite. When they start putting on the pounds, the wealthy turn to personal trainers. Organizations like the Aerobics and Fitness Association of America can certify you to become a personal trainer. Trainers who are also nutritionists and physicians’ assistants or have knowledge of massage or Traditional Chinese or Indian Medicine (Ayurveda) command higher rates.
The rich like to eat like everybody else, but they don’t have the time to cook. That means there’s going to be a higher demand for chefs in restaurants, hotels, resorts and even corporations. Other options include working as a caterer or as a personal chef. The chefs who make the most money are those who are willing to seek additional training and experience at schools like the Culinary Institute of America.
China’s new super-rich are hiring Americans as retainers or servants. Among other things, the wealthiest Chinese are hiring Americans to tutor their children, design homes and even make clothing. Wedding planners and travel consultants are in demand in China. If you want to travel and you don’t have the money, companies like Affinity China and China Luxury Network can help you connect with wealthy Chinese who are out to hire Americans.