New York City discussed on Jill Schlesinger on Money


The golden girls mark yeah give that a big thumbs up this is like the golden boys there I'm roommates and it was really interesting because there is this organization in New York City where they facilitate a process where they can vet roommates and senior roommates and put people together and it's kind of cool so mark we should put a link to the segment in the show notes because of these two gentleman pollen jam it's so cool because what ended up happening is that obviously it always turns into something a little bit more than just a financial arrangement but I will say that you know for each of them it turned out to be a really smart financial decision and I think that when you look at the number of of seniors who were going into their retirement financially in security pretty unbelievable really it's startling so in preparing for the second I also was interested because I've looked at this recent survey from Boston College I have this great resource called the retirement resource center I think or something like that anyway they found half of today's working families are at risk of not being able to maintain their standard of living once they retire then mazing it is hard to make up for lost ground one thing that's really interesting in the analysis is that the percentage of households at risk would be cut by more than a third if people delayed retirement just by two years from sixty five to sixty seven that is because if you do that you're obviously not dipping into your savings but you're also able to increase your monthly social security benefits okay that's a lot of time to talk about one thing let's get to our guest he is my friend return guest Chris gill about he's the author of the one hundred dollar start up and a new book called one hundred side hustles let's get into your site hustling here's my interview with Chris gill about so you also had the one hundred dollar start on and so what was the genesis of that tennis is about was you know I did this fifty states to our to meet my readers my first book which is so fine so guidelines lots stuff along the way and I kept meeting all of these like quote unquote accidental entrepreneurs and they were starting little businesses of their own completely separate from like the Silicon Valley model and all the other stuff that was being talked about her doctor ship I thought nobody was really writing about them basically I thought this is a whole different light part of the country part of ethos etcetera that the conversation that nobody's really looking at and so let me tell those stories you know and that was very much like that our start was very much like a quit your job fire your boss you know create your own future kind of book and and it was good like I'm I'm proud of it but you know over the years it's kind of like well a lot of people can't quit their job and also not everybody is the kind of person who should quit their job like Hey I've got great benefit yes I got a couple kids I don't want to like certain this flyer or I myself don't feel like that's something I want to do it I really I enjoy my work arounds like when I work absolutely so let's talk about the distinction because there's a side hustle which it may be different than a gig like being part of the gig economy yeah verse usually different right and so let's start there yeah how would you compare could you do this really well the but the site has a verse is participating in the giga con well the gig economy is just a collection of part time jobs basically dressed up as some kind of like new economy sort of thing and nothing wrong with having a part time job you know like everybody has to do that some point in life but if you participate in if you're driving for uber left or whatever you're not really getting ahead at all you know you're you're trading time for money and not even a whole lot of money and also they control everything about that process that platform controls everything captor compensation they determine the competition if they don't like you you're off the platform etcetera you're not really building any sort of of assets or future for yourself and so most of the stories that I look at like your sinuses school podcaster through this new book it's about people who are creating assets so a side hustle different than a gig and and I think that that's a good distinction about control there is something about that what I put in is what I can get out and that I can choose to turn it on and turn it off so many that's one distinction what other distinctions might you have well I said I mean that kind of connects to like a sense of ownership a sense of validation of empowerment of like I made this thing and what I see is like even people that are making a relatively small amounts of money through this process five hundred dollars a month for a thousand dollars a month may first of all it's it's not insignificant your car payments or it's going to your student loan debt or whatever but even so it's like disproportionately satisfying making this money apart from your paycheck because you wake up and you have like a PayPal payments from a stranger or something like that you know somebody sent me money I put on the on the internet and it's not fraudulent you know it's not gonna go back to them I don't think right and that's actually going to my my bank account so that so the thing is for you know for a lot of us like we are used to that like that's our world as entrepreneurs but for the average person out there the first time they had that experience it just feels really good when I open the book and I I reading about these stories these are people who you highlighted on the podcast right now and so what about their stories do you think connects them why try to present like a broad range of stories so it's like all kinds of different stuff so there are people from different walks of life doing all kinds of different projects I think what connects them is they have this sense of of asking what if you know what if I could make money doing this thing what if this wasn't just a hobby but it actually could be something that's you know bringing income so they ask what have they have a sense of curiosity that they develop an actually do something about it but the other thing right because everybody has ideas you know the average person on the street has a business idea great but the average person is not just on the projects that have a sense of curiosity an observation and they're willing to like take the next up whatever it is they don't go back to business school like not I mean I've had nine hundred episodes you know the show so far maybe like five people to have an MBA or something in a most those stories there they always talk about how they have like over come with a large business yeah that was a mistake but then I learned how to really do it you know and I think the range is fascinating to me because these are people in all different parts of their lives and I think that that's what's inspirational because you know we can just like open up the bar to to any page right and we could say here's someone who's crafty some dude in New Zealand right we can go over here and we can say here is you know handcrafted walls I remember that when we were talking the first time you said you know like there's a guy who's like Hey I'm really good at spreadsheets let me just right right right so I'm I'm taking something I do at work and applying it to a vast majority of people who don't want to do that thank right this feels different how to how other side that I think there's some of both I think in it's often good fears on us will be something different than what you do you know if your day job but it can be an extension so like I was like making these spreadsheet courses essentially so it's a skill but it's applied a little bit differently I mean is that people that are doing you know administrative computer kind of work and so then they do the hands on thing at nights but there's also like a store like a river story of a guy who I he was a graphic designer and it became a carpenter she's like I really actually went to that so he became a carpenter for his day job and now his side also is making these like travel patches unit going back packs or whatever but he actually wanted to do more computer work for his side also because of the opposite will get back to our interview.

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