10 Highest Paying Side Hustles [Make a LOT of Money FAST] | Summary and Q&A

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July 20, 2020
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Let's Talk Money! with Joseph Hogue, CFA
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10 Highest Paying Side Hustles [Make a LOT of Money FAST]

TL;DR

"Nearly half the population is working side hustles, with 70 million people making extra money each month. This video reveals the 22 most common and highest-paying side hustle ideas, as well as the easiest to set up."

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Key Insights

  • πŸ’¦ 45% of the working population in the US have a side hustle, with an average monthly income of $1,122.
  • βœ‹ The highest paying side hustles involve creating online assets, such as ecommerce and dropshipping.
  • ☠️ Group coaching can significantly increase hourly rates compared to one-on-one coaching.
  • πŸ‘°β€β™€οΈ Easiest side hustles to start may not pay as well, but they include ride-sharing, reselling online, and labor-intensive jobs.
  • πŸ’¦ Virtual assistants and freelancers have the flexibility to work from home and on their own schedule.
  • ❓ Blogging and vlogging can be highly profitable side hustles with the potential for significant income.
  • πŸ‘» The host emphasizes the importance of finding a side hustle that not only pays well but also brings enjoyment.

Transcript

nearly half the population is now working a side hustle or a part-time job almost 70 million people making extra money every single month how do you know which side hustle idea is gonna put the most money in your pocket in this video I'll reveal the 22 most common side hustle ideas for the highest Payne easiest to set up and then reveal my favorite... Read More

Questions & Answers

Q: How many Americans have a side hustle?

According to a survey, 45% of the working population, or around 70 million Americans, have a side hustle.

Q: What is the average monthly income of people with a side hustle?

The survey found that people with a side hustle reported earning an average of $1,122 per month.

Q: Which side hustles are the highest paying?

The video highlights the highest paying side hustles, including ecommerce/dropshipping, creating online assets (videos, books), and group coaching.

Q: What are the easiest side hustles to start?

The easiest side hustles to start, according to the video, include ride-sharing, reselling online, taking surveys, and labor-intensive jobs like housecleaning.

Summary & Key Takeaways

  • A recent survey found that 45% of the working population in the US has a side hustle, with an average monthly income of $1,122 and a weekly work time of 11 to 16 hours.

  • The video analyzes a chart based on a survey of almost 1,000 people, highlighting the most common part-time jobs and their income potential.

  • The host breaks down the highest-paying side hustles, the easiest ones to start, and shares his own favorite side hustle ideas.

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