Buc-ee’s, a Texas gas station and convenience store company, caught the attention of many earlier this year after a post stated that employees might make up to $225,000 per year there. The company also offered a 401(k) match of up to 6%, three weeks of paid vacation, health insurance, and an extra $2 per hour for overnight services.
That type of pay package caused one person to tweet that going to college and accruing a mountain of debt was a poor investment in comparison.
According to the Education Data Initiative, the average cost of a college education in the United States is just under $36,000. While tuition and books are included, living costs from a part-time job may barely be offset.
Buc-ee undoubtedly qualifies as an exception in terms of compensation. According to the US Department of Labor Statistics, the average full-time wage in 2022 will be $54,132 per year. Yet, it is a big country, and what you are paid, even in the same industry and position, will vary significantly depending on factors such as where you reside and the company’s resources.
According to ZipRecruiter, the typical income for a car wash manager is under $45,000, which is considerably less than six figures. In most states, even a general manager earns less than $60,000 a year. So, before you draw up stakes and relocate near a Buc- ee’s, consider how you may get more mileage out of your current job.
Health savings account
Healthcare bills are among the most significant expenses that you may face. If you work part-time, are a student, or do not have good insurance, opening a health savings account (HSA) should be your first priority.
This tax-free savings account not only helps you manage healthcare expenditures in the short term, but it also helps you meet long-term goals. If you are enrolled in an insurance program, the HSA can cover any gaps.
Like with other tax-free programs, everything you invest in your HSA is deductible from your taxable income. Then, all withdrawals for medicinal reasons, as well as any withdrawals after the age of 65, are tax-free.
The riches of a Roth IRA
The Roth individual retirement account (IRA), like the HSA, allows you to take advantage of tax advantages. After the age of 59 and a half, you can withdraw your money tax-free at any time.
The key to a Roth IRA, or any retirement account, is to begin investing as soon as possible so that compound interest may work its magic. Unless you’re over 50, your yearly contribution limit is $6,000 per year.
Your funds will multiply rather than add up when you reinvest your returns, dividends, and interest. Retirement calculators like this one may help you figure out how much you’ll collect depending on factors like yearly contribution, time spent, and anticipated annual percentage growth.
Do the side hustle
If you’re looking long-term, you might be asking how to increase your income right now. For many, this is where a side hustle comes in; among the most popular are driving for ride-hailing firms or selling products online. But let’s be clear: there’s a difference between a side hustle and a part-time job, and the two are not the same.
A side hustle is considered a part-time job if it inhibits you from working effectively at your full-time job. And if your full-time work offers you insurance, benefits, and other benefits, losing it for a side hustle isn’t worth it.
The goal is to find simple methods for making money, and if it involves passive income, all the better. Furthermore, the best types are frequently the most sedentary. Can you hire something out, such as a premium parking spot? With that in mind, a storage unit in your flat or even a shed in the backyard may bring you hundreds of dollars every month.
Nothing beats turning a passion into a business on the creative side. This may include editing work, creative writing for blogs, or launching a podcast and seeking sponsors: creating a podcast for one paid sponsor takes the same amount of time as it does for three.