Ways Online Earners Should Prepare For Serious Illness or Death

Introduction:Earning money online, either through selling products or producing web content may be a hobby, second income or main source of income. The people in your life (spouse and family) may know that you are not just surfing the Internet but they probably have no clue what it is that you really do. Here are 5 things that anyone who earns money online should do.

  • 01

    Keep Records

    Being organized about your online activity is important. If you earn money online, you will need to report the income and this is just one reason why you should be keeping records. Having files saved on your computer is fine but I am talking about regular, old-fashioned paper that can be in a file. Handle keeping records like you would write a How-to guide. Assume the reader knows nothing about the subject (they don't) and spell it all out just in case you are unable to.

  • 02

    Paypal

    If you earn money online, you have a PayPal account. Have your user name, password and any other information about your account written in a notebook that can be kept with your files. Make believe your significant other knows nothing about PayPal (many don't) and spell out everything they need to know such as automatic payments you may receive or fees you might owe. Having a secondary bank account approved to use in an emergency or a PayPal debit card is further insurance that your money will not be sitting in an account, unable to be accessed.

  • 03

    Online Activity

    Many who earn money online develop relationships with other online friends. If something was to happen to you and you were unable to communicate, you may want your online friends to know why you suddenly disappeared. Write a list of how to contact your online friends if that is your wish.

  • 04

    Residual Earnings

    Many web content writers receive residual income even on sites that we are no longer active on. Some of these sites do not payout automatically; payment must be requested. You worked hard to earn money, if you were suddenly out of commission or no longer around wouldn't you want your family to reap the benefits of your labor? Legalities of keeping an account open after your demise vary according to the site. Chances are also good that it is not a question you are going to see in the FAQ section.

  • 05

    Wills

    Because of technology, many online earners do not think about what would happen to their work or residual earnings after their passing. Death is something that many of us do not plan for and even those who do plan don't realize that although we no longer are producing content, our residual income could continue (and benefit our loved ones) if we take the steps to make it a part of our will. Contact the site you work for to get more information about the legal requirements.




Final Thoughts

Having your information explained in writing can take a weight off of your shoulders if you become ill and cannot fulfill writing assignments or fill orders from customers.




Comments

  • tracyann 4/11/2011 Flag This Comment

    You have written a really great list, thank you for taking time to share.

  • goodselfme 2/11/2011 Flag This Comment

    Good info to know and pass on to loved ones when writing online.

  • hummingbirdee 2/11/2011 Flag This Comment

    This is so wise and I think it has been on all of our minds recently. We all need to write down all of our different passwords and user names just as you have suggested.

  • workhomeunion 2/10/2011 Flag This Comment

    These are great tips Priscilla and something we all need to do, not just look at and put on the back burner but really do ... I'll start my notebook immediately .. thanks! D.B - RIP

  • ListingToTheLeft 2/10/2011 Flag This Comment

    Really good ideas to protect and care for your online writing articles, income, and friendships.

  • AkbarTheTentmaker 2/10/2011 Flag This Comment

    Akbar agrees, and believes in only having a family which can be trained in all of the details.

  • slund 2/10/2011 Flag This Comment

    Thanks for the tips.

  • jseven 2/9/2011 Flag This Comment

    Thank you for the reminder to get organized with my online stuff. This is very wise advice and should be front page, for sure!

  • PriscillaBenfield 2/9/2011 Flag This Comment

    Thank you everyone. I hesitated to write this because I didn't want to be seen as being "morbid" or "obsessed about money". It is just practical.

  • BonnieDossKnight 2/9/2011 Flag This Comment

    Very serious list about a very serious topic, which you handled with grace and style. I agree your advice to online earners deserves a spotlight on the front page. HI5

  • ListMaker 2/9/2011 Flag This Comment

    What a valuable list for all online earners! I hope it makes the front page one day. Others need to see these tips.

  • penelope7 2/9/2011 Flag This Comment

    This is something extremely important to think about. I'm giving my son all of the information and I thank you for the eye-opening list. H5

  • Wasatch 2/9/2011 Flag This Comment

    Great list of things to be aware of. I have a business bank account only I can access. My wife is on the account in case of my death. Otherwise she would have a long state probate battle to access and close the account.

  • BusyWriter 2/9/2011 Flag This Comment

    As a business writer who does a lot of online transactions, I found this list very insightful. I'm bookmarking it for future reference. The tip about PayPal was great because my spouse would not have a clue about that.

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