Wednesday, August 14, 2019

Kiwi seniors working encore hustles - Hustler Daily Thumbs Up - August 15



Hello fellow Encore Hustlers

New Zealand, like most developed countries, is experiencing a "senior" moment.  Birthrates are declining, the workforce is shrinking and more people of retirement age are deciding to keep working.  Read this article about Seniors@work a new website that connects employers looking for older workers with senior job hunters, image a Tinder for silver workers.

As one senior Kiwi puts it, continue to work gives her life balance, purpose, social interaction and financial independence.

Cheers,
Mr. EH


Breakdown of best gigs in the US - Hustler Daily Thumbs Up - August 14



Hello fellow Encore Hustlers

Check this great infographic that summaries the side hustles by pay and popularity by state.  The data was collected by AppJobs that lets you search and compare app-based jobs by city.

The infographic has a slew of interesting statistics.  For example, Florida appears to be the top state for side hustle applicants, the most popular side hustle is delivery jobs and the best paying hustle is massage therapy ($27.84/hour).

Massage therapy pays more than double than pet walking/sitting ($13.17 per hour).

Curiously enough combining the two and becoming a pet massage therapist means you can charge $45 per hour, hows that for synergy.

Cheers,
Mr. EH


Tuesday, August 13, 2019

Encore hustles will add years to your life - Hustler Dail Thumbs Up - August 13




Hello fellow Encore Hustlers

Encore hustles are not only good for your bank account but they are good for your physical and mental wellbeing.

Read this story from Scotland that discusses research that reveals that working past 65 can lower the risk of premature death, better overall health and mental decline.

The story also features profiles of encore hustlers who are living examples of this research, my favorite being the 85-year-old rollerblade instructor.

Cheers,
Mr. EH




Monday, August 12, 2019

When retirement is not an option - Hustler Daily Thumbs Up - August 12



Hello fellow Encore Hustlers

For some people, their years of planning, hard work, and saving can unravel with one life changing event.  Read this story about Janet Beebe who at 70, continues to be the chief executive officer of a non-profit based in the Atlanta, Georgia area.

Her original plan of retiring at 65 with her husband, was derailed when he was diagnosed with Parkinson's at age 58.  Eventually his condition progressed to the point that required him to be placed in a full time care facility that costs almost $6,000 a month.

The care is not covered by Medicare, but fortunately their combined social security checks and savings are covering the cost for now.  Unfortunately for Janet, her retirement is not option.

But at least, for the moment, she is keeping the leaky ship afloat.

Cheers,
Mr. EH

Sunday, August 11, 2019

Overwhelmed by medical debt and tragic consequences- Hustler Daily Thumbs Up - August 11



Hello fellow Encore Hustlers

In the last post Mr EH linked to an article about the dramatic rise in bankruptcy filing for those over 65.  One of the major reasons cited is resorting to credit cards to pay for medical bills.

Yesterday it was sad to read of a murder/suicide of an elderly couple in Washington state.  The husband called the local 911 dispatch and during the call he explained that fears over high medical bills were the reasons for the actions that he was about to take.  When police arrived to their home they found that the husband had carried out his threat.

According to court records the couple filed for bankruptcy in 2016 with credit card debits exceeding $120,000.

If you know anyone who is overwhelmed by debt due to medical expenses please reach out to patient-assistance organizations to help negotiate and deal with current medical debt and future expenses.

Cheers,
Mr. EH

Friday, August 9, 2019

Bankrupt in retirement - Hustler Daily Thumbs Up - August 9



Hello fellow Encore Hustlers

Read this Financial Times (UK) story about the dramatic rise of bankruptcies in retirees.

In 1991 the rate of bankruptcies for over-65's was only 2 percent.  A generation later the rate has increased sevenfold.

There are multiple reasons for this increase.  In that time pensions have largely gone away and retirement savings through IRA's and 401k's have proven to be inadequate to cover retirees who are living longer.  Also this longer live has led to increased medical costs that further drain savings.

Ofttimes the only recourse retirees have to cover daily living expenses it to use credit cards, which amazingly are offered, with credit limits of tens of thousands of dollars, to people whose only source of income is social security.

If you are retired and finding that your monthly expenses are perilously close to your retirement income, please consider an encore hustle to keep you out of bankruptcy court.

Cheers,
Mr. EH

Tuesday, August 6, 2019

"Driveaway" to an encore hustle - Hustler Daily Thumbs Up - August 6



Hello fellow Encore Hustlers.

If you ask almost anyone what they plan do to after they retire, most likely one of the top responses will be hitting the open road and taking long driving trips.

Imagine if you can also combine this with an encore hustle by hiring on to perform cross country  drives for people who need their cars moved from one side of the country to another.

Read this story about retirees who sign up for a "driveaway" encore hustle.  They get paid an hourly rate, expenses and return flights home in exchange for agreeing to drive clients cars or trucks, usually as part of a cross country relocation.  Hiring a driver, rather than trusting a moving company, is the preference on many people, since a drive can deliver the car faster and with less damage.

You can find "driveway" gigs by advertising on Craigslist or Facebook, or you can simply search for "hire someone one to drive your car cross country".  A better way to secure this hustle is to sign up as a driver more one of the many companies that offer this service, such as Professional Drivers.

Maybe it's time to hit the road with this encore hustle.

Cheers,
Mr. EH