CNBC Grow: 70% of Americans want a side hustle: Here’s where to start
CNBC Grow, Feb. 18, 2021 — In today’s issue of Grow on CNBC, Marguerita Cheng, CFP®, is quoted in the article, “70% of Americans want a side hustle: Here’s where to start.”
Reporter Gili Malinsky@MALINSKID explains: “Many Americans are reassessing their careers and sources of income as a result of the coronavirus pandemic. In fact, one-quarter say they are more likely to make a career change to a new field, and 27% say they are more likely to start their own business, according to a recent survey of 2,006 adults by the National Association of Personal Financial Advisors (NAPFA).
“And overwhelmingly, Americans are looking into picking up a side hustle: Nearly three-quarters, or 70%, said they are considering adding another source of income to become more financially stable. Some of the most-considered additional income sources include selling products online, offering freelance services, acquiring certifications for roles such as notary or real estate agent, and picking up a weekend job.”
Cheng, CEO of Blue Ocean Global Wealth based in metro Washington, DC shares:
“One thing to keep in mind as you dive into your side hustle is to make the most of that extra money; it’s smart to treat it like a business. Make sure you don’t spend everything you make from your side hustle because you may need to set aside money for taxes.”