When I was studying Law to become a lawyer (finally changed my mind after 4 years studying, opting for the Art market instead: denying the world of lies for the world of beauty), I also got a diploma to do legal translations. Then, 15 years later, I started being a translator (started thanks to an ad on this site btw).
"Translator" covers many realities: from the guy who'll give a hand interpreting for basic administrative tasks to the one who will translate Court decisions in complex & expensive cases. A real translator is someone able to translate accurately, convey the spirit of a text while doing 0 mistake/typo in 5.000 words (even typographical ones).
It's also true you need to live in other countries to be really good. I lived in the UK + US and that proves really useful, like last week for a game to be released soon on the Steam platform: a string like "Don's Vice shirt" (outfit for the game); to understand that one, you need to have watched TV in the US back in the 1980's.
A really good translator (even telecomputing) can easily make 8/10.000 USD monthly.
Gaming (casinos, poker sites) is also an interesting market, especially when the US will become more flexible about those sites.