Bankrate tells us that the average side hustler earns $8k per year. The details:
Side hustlers make $686 per month, on average. Within a year, it’s possible to earn more than $8,200. Those who work a second job at least once per month earn an average of $836 on a monthly basis.
Most survey respondents (59 percent) say they consider the money they earn from their side job to be disposable income. And 38 percent say they use their extra funds to cover ordinary living expenses.
A few thoughts here:
- $8k extra a year is nothing to sneeze at. If that could be bumped up a bit, it could enable a person to retire in 10 years or less.
- Having a side hustle can make a huge difference in when you can retire. Just run the calculator and see what it works out to with and without a side hustle.
- If you're wondering about starting a side hustle but don't know where to begin, here are some ideas worth considering.
Do you have a side hustle? Why or why not?