Salt Lake City software engineer Ryan makes $200,000 a year in what he calls a “cushy job.” But after 15 years in the job, he’s not happy and wants to quit. His plan? Turn his side hustle into a full-time job. He called into The Ramsey Show for a “sanity check” before making the leap (1). Must Read He told co-hosts Dave Ramsey and Ken Coleman that he was ready to quit two years ago but held off. “I was burnt out and I still am,” the 44-year-old said. “I found something that I could gravitate towards an ...

Core Insights - The Dobsons have generated over $1.1 million in revenue over the past five years through upcycling furniture and flipping homes [1][2][3] - They initially started refinishing furniture to save costs on furnishing their first home, which led to a side business that now supports their family [1][2] - The couple has transitioned from traditional jobs to full-time house-flipping, documenting their projects on social media for additional income [3][4] Financial Performance - In 2024, the Dobsons earned $95,000 from a combination of social media content, brand deals, and the sale of their renovated home in St. Petersburg [4] - The average gross profit from house flips in the U.S. has decreased to $70,000 in 2024, indicating a decline in profitability for house-flipping ventures [4] Market Trends - Approximately 45% of Americans engage in side hustles, but only 10.5% earn more than $1,000 monthly from these activities, highlighting the challenges of turning hobbies into profitable ventures [5] - House-flipping is becoming less lucrative compared to previous years, necessitating strategic approaches to mitigate risks [4][6] Risk Management Strategies - The Dobsons mitigate risks by living in each home they renovate for at least two of the five years before selling, allowing them to benefit from IRS capital gains tax exclusions [6]

Core Insights - A significant portion of Americans, approximately 27% in 2025, are earning income from side hustles, which have evolved from passion projects to essential financial safety nets due to inflation and economic uncertainty [1] Group 1: Trends in Side Hustles - Side hustles are increasingly focused on flexibility, allowing workers to fill income gaps, build savings, or test business ideas without full-time commitment [2] - Successful side hustles in 2025 are characterized by alignment with individual skills, time availability, and risk tolerance, moving beyond traditional options like rideshare driving [3] Group 2: Types of Side Hustles - Online tutoring has a low barrier to entry and can lead to six-figure incomes for those who excel in subjects like test prep, writing, or math [4] - 3D printing is being utilized to create niche products, which can be sold on platforms like Etsy, requiring initial investment in equipment and design skills [5] - Skill-based hustles, such as consulting and hourly services, allow individuals to monetize existing expertise, while product-driven ideas enable creators to test and scale products online [6]

Core Insights - The article discusses the potential absence of government stimulus in 2026 and suggests alternative strategies for individuals to create their own sources of income through investing and other financial moves Group 1: Government Stimulus Context - Government stimulus is aimed at boosting the economy by increasing disposable income for Americans, but its future availability is uncertain, particularly in 2026 [1] - Many individuals are currently facing financial strain due to inflation and high living costs, which raises concerns about the lack of government support during tough economic times [1] Group 2: Strategies for Creating Income - Utilizing cash-back credit cards and rewards apps can convert everyday spending into a source of income, provided that balances are managed wisely to avoid interest charges [2][3] - Many individuals overlook the value of accumulated cash-back rewards, travel points, and store credits, which can be redeemed for various benefits, effectively creating a passive income stream [3] Group 3: Micro Side Hustles - Engaging in micro side hustles, such as freelance writing, pet sitting, or online tutoring, allows individuals to earn extra income on a flexible schedule [4][6] - Individuals with specialized knowledge can create online courses or offer services in high-demand areas like technology or artificial intelligence, capitalizing on their expertise [5] - Local community needs can also present opportunities for side hustles, such as driving for ride-sharing services or providing personal shopping for elderly residents, which can generate significant income with minimal effort [6]

Core Insights - The Lanlehin family successfully identified a gap in the party rental market, leading to the establishment of a profitable business that generated $295,000 in revenue for 2025 [4][5][11] - The couple reinvests profits back into the business rather than taking salaries, allowing for sustainable growth [2][12] - Their success was bolstered by leveraging existing skills, market awareness, and strategic networking with high-profile clients [10][11] Business Model - The Lanlehin's party rental business began with a $2,000 investment in children's chairs, addressing a specific need in their local market [4][5] - They operate the business part-time, dedicating about eight hours a week while outsourcing tasks to six contract employees [1][2] Market Analysis - The couple's business thrived due to its location in an affluent area, filling a niche that was previously unaddressed [2][4] - The initial success was amplified by social media exposure and connections with influential individuals, such as the wife of an NBA player [3][11] Side Hustle Landscape - A significant portion of Americans engage in side hustles, with estimates ranging from 30% to 50%, but many earn modest amounts [6][7] - Surveys indicate that 26.1% of Americans earn between $1 and $50 monthly from side hustles, while only 1% earn over $4,000 [6][7] Entrepreneurial Insights - The Lanlehin's experience highlights the importance of market research and awareness in identifying viable business opportunities [11][12] - Aspiring entrepreneurs are advised to consider their time commitment, tax implications, and initial investment costs before starting a side hustle [13][14][15]

Side Hustle Income - Millennials 平均每月从副业和被动收入来源获得 1,129 美元[1] Opportunity - 探讨如何获得即使在工作、度假或睡觉时也能赚钱的副业[1]

Core Insights - Side hustles are increasingly common in the modern economy, leading to new tax responsibilities that individuals may not fully anticipate until tax season arrives [2] - Understanding how to track, report, and maximize deductions for side income is crucial for compliance and minimizing surprises during tax filing [2] Taxable Income - Income from gig work, freelancing, or self-employment is generally taxable, regardless of the payment method used [3] - All business income must be reported, even if no 1099 form is received, as the IRS differentiates between business income and hobby income [4] Organization and Recordkeeping - Accurate recordkeeping is essential for reducing stress during tax season, including maintaining a log of all business-related income and expenses [5] - Common documents for recordkeeping include receipts, invoices, mileage logs, and proof of home office expenses [7] Technology and Tools - The IRS recommends keeping tax return records for three to four years, and digital bookkeeping tools can aid in tracking business transactions [6] - Financial professionals suggest leveraging technology for managing business revenues and expenses, with platforms like QuickBooks being highlighted for their effectiveness [6]

Core Insights - Modern technology has significantly simplified and enhanced the profitability of side hustles, enabling entrepreneurs to potentially earn an additional $1,000 per month through content creation and online sales [1][2] - Social media literacy is essential for successfully operating a side hustle, as it serves as a primary tool for marketing and sales [3][5] Industry Trends - The side hustle economy is growing, with nearly one-third of American workers engaging in gig work alongside their main jobs, according to a LinkedIn Workforce Confidence survey [4] - Younger generations, particularly Gen Z, are more inclined to have side hustles, with 57% participating compared to only 21% of Baby Boomers [5] Recommended Strategies - Entrepreneurs are advised to establish accounts on multiple platforms, post content across all channels, and understand algorithms before launching their side hustles [5] - Successful examples, such as Steven Schwartz, who co-founded a tech marketplace generating $354,000 per month after trying 23 ventures, illustrate the potential of the side hustle economy [6]

How To Choose A Side Hustle In 2026 https://t.co/0CmBCQja0M ...

How To Choose A Side Hustle In 2026 https://t.co/0CmBCQja0M ...