I studied translation but don't work as a translator. Full time jobs are hard to come by, a lot of it is freelance work and that wasn't for me. I didn't go to school forever, it was the same as any other study at bachelor level. You do have to be fluent in the source language though. It would be easiest to find a job if you have an unusual language combination. You don't need any qualifications to call yourself a translator and a lot of people think they are fluent enough in another language to be a translator. A lot of them are wrong. You also have to be a good writer, understand your target audience, know the nuances of both languages.

The company I worked for previously worked with freelancers (I was in a completely different department) and the quality of what they did was AWFUL.

If you just want to make money, call yourself a translator and start applying for jobs. If it is your dream job though, and you want to have some sense of professional pride, I would recommend at least some study or taking courses.

Why do you want to be a translator? What sort of work do you want to do?