Should the Side Hustle be Part of Your #Boomer2021Plan
As #Boomers, we first learned to do the Hustle from John Travolta during the '70s Disco era. Back then, we tried to show off our dance moves under the glitter of the Disco ball. The Hustle today refers to the Side Hustle or a way to earn some extra money, how the tune of things has changed yet again.
Another outgrowth affected by so many from #COVID-19 is the expanding #SideHustle. This is a piece of the growing gig-economy. But what does that really mean? Is this something you should be looking into, or is there someone else you can help develop some new gig skills? What is a skill that could help others increase their Side Hustle income?
The gig economy can mean all types of a part-time, short-term, contingent, or not full-time work arrangements. This can mean Freelancers, Consultants, Independent contractors and professionals, and Temps (temporary contract workers). While most think about Millennials to fill out their time earning some extra money in a Side Hustle, Boomers are big players now filling out these gigs. According to Wonolo, more Boomers are filling these gigs than any other generational group. They found that 31% of Boomers are doing more than 3 different gigs per week.
The reason that Boomers are so active varies. Some are faced with a financial need to earn some extra income, while others use their gigs to keep their mind or body active, and others to give something back. What skills or experience do you have to help others with a new business or help support or grow an existing business?
Job satisfaction on the Wonolo platform is highest among boomers. It could provide customer service support from your home, drive an Uber-type service, deliver an Amazon type service, or fill in part-time at a growing small business. Whether you want to work this week or not, how active you want to be can be up to you.
We still have many needs, desires, and as it turns out, much to still offer others. Be it for yourself or someone else, we Boomers still gotta lot of living to do. Look into it a bit and see how it might work for you or someone you know.
If you are drawing Social Security Benefits, there are income considerations. This Retiree's Guide provides some general information about how gig income could affect your Social Security benefits and gives a good list of several companies that provide gig or microwork sources.
Let us know how you are helping others with a Side Hustle or doing a new gig for yourself in 2021.