Maybe you've had a high stress occupation before, like social work or stock trading, and fell victim to the high burnout rate of these kinds of jobs.
Or maybe you're just starting your career, and looking for something that won't take over your life but will still provide you with a good living. Whatever reason you have for looking for a high paying, low-stress job, you've come to the right place. We've compiled a list of the top 5 jobs that promise a solid paycheck without taking too much out of you.
Nanotechnology engineering technician
Requirements: Associates or Bachelors degree
While the equipment you would be operating in this job is pretty advanced, your day to day work would be more or less running machines...for an excellent paycheck. You would operate these machines to produce, test, or modify materials, devices, or systems of molecular or macromolecular composition, but once you learn the systems, it's a pretty low stress job.
Requirements: Bachelors degree
Actuaries work for insurance companies to create systems to analyze risk. If you're good at math and statistics this might be a great job for you, as the stakes are low, the pay is high, and the hours are reasonable.
Speech language pathologist
Requirements: Usually Masters degree
This is a growing profession that allows for lots of interpersonal connection, without the high stakes of occupations like psychiatry. Speech language pathologists help to treat and diagnose various types of speech and swallowing disorders, usually maintain classic 9-5 hours, and report relatively high job satisfaction.
Transportation vehicle, equipment, and systems inspector
Requirements: High school degree
If higher education isn't in the cards for you, this is a great option. This job entails inspecting various commercial vehicles to ensure they meet safety standards, a relatively easy undertaking with a little practice.
Requirements: Vocational school
Business Insider lists this occupation as one of the least stressful high paying job options, describing it as requiring you to, "Construct, assemble, maintain, and repair stationary steam boilers and boiler house auxiliaries."
Requirements: doctor of dental surgery degree and master's degree in orthodontics
Salary: $200,000 or more
This notoriously high paying job comes with all the perks of being a doctor, without any of the high stakes and intense stress. While it requires some up front investment in higher education, it's a quickly growing job that allows for lots of human interaction and team dynamics that appeal to a lot of people.
Solar Photovoltaic Installer
Requirements: High school degree
Median salary: $39,490
Has solar panels become more and more prevalent, more and more people need to install them. This profession is currently in high demand, and promises to be a reliable 9 to 5 without burdensome stress.
Requirements: Associate degree
Web designers code and create websites. This very specific skill is always in high demand, and promises to be a low stress way to flex your creative muscles for great money.
Life doesn't have to be as stressful as many of us tend to make it, and with these job options, you'll be able to lead a relaxed life with a healthy work-life balance.
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- Top 10 Low-Stress Jobs That Pay Well ›
- High-paying low-stress jobs - Business Insider ›
When you take out a loan for a car, charge something to your credit card, or get a personal line of credit, there is going to be an interest rate that applies to your loan.
A lot of different factors go into what you will be charged, including your own personal credit score. But even those with flawless credit still see a minimum charge that they can't get around. That all goes back to the Federal Funds Rate.
One thing consumers rarely realize is that all of our banks are lending money to each other every night. Banks are legally required to maintain a certain percentage of their deposits in non-interest-bearing accounts at the Federal Reserve to ensure they have enough money to cover any withdrawals that may unexpectedly come up. However, deposits can fluctuate and it's very common for some banks to exceed the requirement on certain days while some fall short. In cases like this, banks actually lend each other money to ensure they meet the minimum balance. It's a bit hard to imagine these multibillion-dollar financial institutions needing to borrow money to tide them over for a bit, but it happens every single night at the Federal Reserve. It's also a nice deal for those with balances above the reserve balance requirement to earn a bit of money with cash that would normally just be sitting there.
The Federal Reserve
The exact interest rate the banks will charge each other is a matter of negotiation between them, but the Federal Open Market Committee (FOMC) (the arm of the Federal Reserve that sets monetary policy) meets eight times a year to set a target rate. They evaluate a multitude of economic indicators including unemployment, inflation, and consumer confidence to decide the best rate to keep the country in business. The weighted average of all interest rates across these interbank loans is the effective federal funds rate.
This rate has a huge impact on the economy overall as well as your personal finances. The federal funds rate is essentially the cheapest money available to a bank and that feeds into all of the other loans they make. Banks will add a slight upcharge to the rate set by the Fed to determine what is the lowest interest that they will announce for their most creditworthy customers, also known as the prime rate. If you have a variable interest rate loan (very common with credit cards and some student loans), it's likely that the interest rate you pay is a set percentage on top of that prime rate that your lender is paying. That's why in times of low interest rates (it was set at 0% during the Great Recession), a lot of borrowers should go for fixed interest rate loans that won't increase. However, if the federal funds rate was relatively high (it went up to 20% in the early 1980's), a variable interest rate loan may be a better decision as you would be charged less interest should the rate drop without the need to refinance.
The federal funds rate also has a major impact on your investment portfolio. The stock market reacts very strongly to any changes in interest rates from the Federal Reserve, as a lower rate makes it cheaper for companies to borrow and reinvest while a higher rate may restrict capital and slow short-term growth. If you have a significant portion of your investments in equities, a small change in the federal funds rate can have a large impact on your net worth.
Whether you're leaving a job involuntarily, departing for something new, or just want to prepare for the unknown, it is smart to understand all your options regarding your 401k.
Frugal gifting often gets a bad reputation. However, this shopping method does not make you cheap — it makes you practical. Frugal gifts often avoid waste and overspending and can be just as meaningful (if not more so) as any other present.
With the National Retail Federation predicting each consumer this holiday season to spend upwards of $1,000 on holiday gifts amidst an economic recession —this year might be the perfect time to reconsider your spending budget. We've formulated the ultimate list of frugal gift-giving ideas to get you started.