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Having a side business is not the same thing as having a second job.
That would all depend on the side business and the second job.
Most people when they say that they own a business what they are saying is instead of having a JOB they are doing all the work to keep things going. Much harder than having a second job. Many people with side business operations have no employees and when the work comes in it is up to them to get it done. I did work for customers on the side on and off over the years. Many times it would be a lot easier to have a second job and not worry about keeping the customers happy. I was at the point that the only way to grow was to quit my job, take a pay cut for a while and build from there. Not something that I was willing to do at the time.
I don't think it's the norm per say...I think it personally has to do with a person's spending and supporting their lifestyle...no one has to have a second job unless you can barely make ends meet with the first one .
I am from one of the highest COL areas in the country, and late last year, I moved to one of the other highest cost living areas in the country. In both areas, NONE of my friends work two jobs. Some of them are single, earning less than 85K, as well. It is called budgeting, living within your means, and still knowing how to enjoy yourself, while taking care of yourself.
I fall into that weird gap where some people would consider me a millennial, some gen x, just for an age reference.
That would be Bay Area, LA, or New York. Are you planning on buying a house in any of these areas sometime soon? Could you buy a house or even qualify for a loan to buy one in any of those areas making only $85,000 a year? Just curious.
That would be Bay Area, LA, or New York. Are you planning on buying a house in any of these areas sometime soon? Could you buy a house or even qualify for a loan to buy one in any of those areas making only $85,000 a year? Just curious.
You could buy a condo or coop in NYC on that income. Not in Manhattan south of 96th, and it would be a small apartment, but it can be done in Brooklyn or Queens.
I work a "second job" every now and then, as in freelance gig work when a client needs someone to fill in. I don't necessarily need the money, but it never hurts to have some extra cash. Your coworkers, do they have wives who work? Do they have children? Do you live in a high cost of living area? Maybe they like to take international vacations or maybe they are putting that money into savings or investments- do you really know?
The side gig thing has become popular over the years as more people look into working for themselves and creating businesses. Unless it's somehow effecting you, I don't understand why you care so much.
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