More Than Half Of Gen Z Has A Side Hustle As 9-To-5 Jobs Lose Popularity
Picking up a side hustle has turned into a popular way to make extra income, but it's even more popular among younger generations. Some 57% of Gen Z have a side hustle compared to only 21% of boomers, according to a Fortune-Harris Poll.
The surge in side hustle culture also comes with the 9-to-5 grind losing relevance. More than half of young professionals are turning to side hustles and investing instead of getting a W-2 job, which they believe isn't essential for achieving financial success.
Don't Miss:
-
Your Last Chance to Invest in Pacaso Before Their Global Expansion — Offer Ends Sept 18
-
Kevin O'Leary Loves ‘Wonderful Recurring Cash Flows' — These Small Industrial Assets Deliver Just That
Career Minimalism Is On The Rise
The Fortune-Harris Poll cited career minimalism as a key factor that's influencing the way Gen Z approaches income opportunities. They treat day jobs as financial foundations that let them expand their side hustles. Gen Z starts side hustles that they hope can replace their full-time income instead of locking themselves into a regular job for the rest of their careers.
Side hustles are treated as viable full-time career opportunities instead of backup income sources and ways to temporarily make extra cash.
Side hustles can offer Gen Z more flexibility, and it's something that they have come to value. The poll found that Gen Z places a strong importance on traveling and creating shared memories with their parents. These priorities are easier to achieve for Gen Zers, who have more career flexibility, something that they can get with side hustles.
Trending: ‘Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. You can invest today for just $0.30/share.
The Career Ladder Is Done
More people in Gen Z are abandoning the career ladder and opting for side hustles instead. Some side hustles give you the opportunity to earn based on how much you can complete and how willing you are to tackle new projects.
Not all careers offer that flexibility, especially if your primary way to earn more money is by climbing the corporate ladder. Some companies make it hard to climb the career ladder, and it can come down to who knows you instead of how skilled you are at performing your job.
Side hustles give Gen Z more control over their success. Furthermore, diversifying their income streams makes Gen Z less vulnerable to layoffs. If you work a 9-to-5 job without any side hustles, your monthly income will go down to $0 if you get laid off.
Content Original Link:
" target="_blank">
