F.I.R.E User
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What order do I need to take to make it worthwhile?
Is it worth doing this side hustle?
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F.I.R.E User
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What do you do?
Redbugdave
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A couple of the guys I used to work with (we all retired) drove cars for the car rental companies getting cars back to the hubs. National, Enterprise, Budget. They said they made pretty good and liked it. At least they are not putting mileage/wear and tear on their own cars. But the risk for an accident is still up there the more you are on the road.
For me...I do not want any kind of a job...no matter how much money. My freedom is worth more than that.
For me...I do not want any kind of a job...no matter how much money. My freedom is worth more than that.
disneysteve
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Already answered this. I sell on ebay.
disneysteve
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Tariffs should be good for resellers since we aren't impacted. If consumers are looking for cheaper options they're more likely to turn to alternative sources like ebay.
disneysteve
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I've also known people who worked as lot jockeys for dealerships or valet parking attendants. The valet gig can definitely work with a 9-5 job if you can pick up an evening shift a couple of days a week.
disneysteve
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Only you can decide what's worthwhile. To me, 8 hrs/wk for only 2K/yr would be a no.
F.I.R.E User
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How many hours a week? Was this setting up own hours?
Most of them see cash in hand and think they're making money. They don't realize they're not until they need a major car repair and now they don't have enough to pay for it and they also can't earn any more without their car.
Other people do it for social interactions. A couple of the people whose taxes I do are caregivers for a family member all day, and they really need to a reason to get out of the house. They need the flexibility of gig work and they really don't care if they're not making much in the end.
F.I.R.E User
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Even with no taxes due to deductions on mileage?
F.I.R.E User
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That is crazy. Sounds like a legal scam taking advantage of people not doing their homework.
Redbugdave
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They worked out a schedule with the companies on a weekly basis. They also had an on-call kind of deal, too. Need to go to their hubs and talk with them.
F.I.R.E User
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I want to do plasma donation. I know the money is pretty good there but I have high anxiety with needle in my arm while drawing blood.
Can you explain the math here? If I back into this it looks like in ‘23 you drove around 3000 miles for UE/DD, was paid around $2k, deducted 3000 x 0.65, and was left with $100. You spent 7-8 hours per week to achieve this.
Is this right?
F.I.R.E User
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2800 miles over a year, averaging 7-8 hours per week? That’s only 55 miles per week. Seems like 7-8 hours is a lot for just 55 miles driven, especially when some of those miles are unreimbursed,
F.I.R.E User
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What does this mean?
disneysteve
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I'm not sure what you want anyone to say here. Would I work for $5/hour? No. My time is worth more than that. I've already made 10K or so with my reselling business this year (before taxes and some expenses so maybe 7K or so net).
If you are happy with that income, that's all that matters. It doesn't matter what anybody else thinks.
F.I.R.E User
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Now I know unless I totally considered a hobby.
I will admit I don't understand why the OP, or anyone else, would think this is a profitable venture. I would not spend the 7-8 hours/week for so little cash... not worth the hassle.
If you are seriously looking for advice - the answer is obvious - do the OT.
But there are a few pages of responses here where you try to justify your driving gig despite the fact that it doesn't pay well.
Your choice in what you choose to do for extra cash - but don't ask for advice if you're not going to listen...
If you want to get out and drive, get fresh air - there's nothing stopping you from going for a drive that doesn't involve food delivery.
Math is pretty simple in this case.
If you are seriously looking for advice - the answer is obvious - do the OT.
But there are a few pages of responses here where you try to justify your driving gig despite the fact that it doesn't pay well.
Your choice in what you choose to do for extra cash - but don't ask for advice if you're not going to listen...
If you want to get out and drive, get fresh air - there's nothing stopping you from going for a drive that doesn't involve food delivery.
Math is pretty simple in this case.
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I'm pretty sure I could make more money standing at the exit of the supermarket parking lot with a cardboard sign about how I'm down on my luck and need a buck or two if you can spare it.
Mr._Graybeard
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A friend and former co-worker likes to Uber. He has a Prius. He also became a Zen Buddhist priest and goes on retreats. We joke that his wife wants him out of the house, but in humor there's often truth.
Stormy Kromer
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I sold every minute of my time to reach FI. There is no way now that I will give a minute or risk my health to try to earn another dollar to leave in my estate, I did that when I was young and poor.
I have had more than one friend go back to work because they thought they'd be bored. One 40 year union factory worker got killed driving a seasonal farm truck as a "hobby job" Another friend fell off a two story house working as a roofer. He was a retired MN State Trooper with a major league pension. He worked on roofs because he was "too young to retire". The broken back and shoulder from the fall off that two story roof made him retire. Years later he still can't walk.
Another friend was a retired High School Principal who said "I'm too young to retire!" He got a route delivering Sunday papers. He pulled out in front of a semi one morning and that ended his life and second career.
Folks, if you want to go back to work when you retire.....get a job that won't kill you. If you weren't doing a physical job in your 20's don't think you can pick it up in your late 50's or 60's.
Side hustles may be fun, but please be careful.
I have had more than one friend go back to work because they thought they'd be bored. One 40 year union factory worker got killed driving a seasonal farm truck as a "hobby job" Another friend fell off a two story house working as a roofer. He was a retired MN State Trooper with a major league pension. He worked on roofs because he was "too young to retire". The broken back and shoulder from the fall off that two story roof made him retire. Years later he still can't walk.
Another friend was a retired High School Principal who said "I'm too young to retire!" He got a route delivering Sunday papers. He pulled out in front of a semi one morning and that ended his life and second career.
Folks, if you want to go back to work when you retire.....get a job that won't kill you. If you weren't doing a physical job in your 20's don't think you can pick it up in your late 50's or 60's.
Side hustles may be fun, but please be careful.
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F.I.R.E User
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Makes sense. Thank you.
F.I.R.E User
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Wouldn’t that be begging for money? Well at least it would be tax free income.
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