Jonathan Kvicky Shares Why Side Hustles Are a Way to Personal Fulfillment
Finding and creating supplemental sources of income is now, more than ever, offering people the chance to establish financial security in an era of uncertainty. Whether you are living paycheck to paycheck, or making a comfortable salary, having a side hustle is a great way to generate income to fall back on in unexpected circumstances, and also helps you make achieving your financial goals a faster and easier process.
One individual who continually preaches the advantages of side hustles is serial entrepreneur and investor, Jonathan Kvicky. Based out of Los Angeles, California, this thirty-two year old has cemented his name in the business world by having started numerous successful companies from the age of eighteen. Now, even as a full-time engineer at a large tech company, he continues to immerse himself in side projects and publicly voices his support for the growing "gig-economy", encouraging others to grasp their own financial reins.
Here he lists just a few reasons why side hustles are growing amongst millennials, and those new to the workforce, at a rapid pace.
1. Side hustles help offset chronic wage stagnation
American wages have failed to keep up with the pace of inflation for decades, leaving many workers worse-off financially than they were at the start of their careers. A side hustle is one way people can start to take control over their finances in a better way and cast a safety net over their income.
2. Extra work is easier to find and fall back on if required
Diversifying income may seem like an unnecessary extra step to take if you already have a steady full-time job, but no job is completely secure or future-proof. That's why having a side hustle to fall back on for a rainy day fund, or emergencies, is a great idea. In addition, with the continued growth of internet ecommerce, it is becoming easier for people to start up part-time work on the side from the comfort of their own homes.
3. If you're trying to pad your savings, side gigs are a great option
Side hustles, in this day and age, are such a great opportunity to pad your savings, because of the huge upsides. Earning potential is essentially uncapped, risks are low or non-existent, and sacrifices are minimal. There has never been a better time to jump into one.
4. Supplemental jobs can help you align with your passions
Millenials have come to expect more from their work in terms of meaning and satisfaction. If you're not feeling quite fulfilled by your 9-to-5 job, a side hustle can be a great opportunity to fill that void, and allow you to make money doing something you love. If you love writing, start a blog and try monetizing it. If you're a designer, offer custom services online to potential clients.
5. A side hustle teaches you valuable business skills
If you've ever dreamed of starting your own business or turning your passion project into a full-time career, a side hustle is a great way to learn the ropes and form the best habits in order to align yourself with future success.