The Gig Economy here in California is both vital to stay at home parents, and detrimental to those same parents' long term financial future.
Today I Will Be Virtual Assisting for a B-Coastal Real Estate Agent
Cash will go in my account by the end of the day and I work 100% around my schedule.
I also get to stay home while working, which means I can sit by my toddler as I type emails.
The downside to Gig Work
Is the same as the upside. You basically get cash at the end of the day.
Do you automatically put some away for taxes?
What about your health insurance?
Retirement?
If you are only gigging, you are missing out on some benefits.
Which is why I choose to Hive on days that I gig.
That means I either write a post, log on and make a bunch of comments, play a game of splinterlands, rising star, or something else.
Whatever small action I take can grow over the next 29 years, and added together to all my small actions, I will solve problem #3 of the gig economy.
How will I retire?
One small action, is like putting a little amount of cash in a retirement account.
Are you a part of the gig economy too?
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Gig Work is so profitable. Extra cash that is great. The money all adds up !
I agree. I feel very blessed.
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Well my retirement plan (if we get there) is to invest $30 each month in HBD and put it in savings and the automatic 20% compounding will do the rest so I will be able to retire in about 15 years.
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This is what your HBD HODLings will look like in 15 years at 30HBD per month.
It is a lot of money, but I don't know if its enough for retirement. I do understand though that you may live somewhere where that amount is more than enough.
Good luck and thanks for stopping by to have a read.
I tend to treat Hive as my gig so I would say I am part of the gig economy also. Just compound and grow your earnings so you can retire without worries.
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Sound like an easy plan until you see the water bill is due.
Then you (I) REALLY have to remind myself that its for retirement.
Thanks for stopping by.
But how do you deal with inflation or what is your best plan?
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It's to invest in what I think are solid companies/plans. My normal job pays the bills and everything else is just a preparation for the future.
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Great that you got some gig work and thats a smart move to compound some action on Hive. Im not part of the gig economy yet as I didn't have any gigs.
Thanks for sharing your post 🙂
Viewing rewards according to their future worth, means that an upvote on a comment, or token gift may be worth enough for a cup of coffee. Earning these small rewards adds up to BIG rewards and with enough effort, may be a retirement fund someday.
This is pretty rare and valuable in today's economy. If you fill your gas tank today, it may cost you less money than on Friday, getting paid early could save you some money! Short term gig cash, long term gig crypto. Not a bad deal.
I like how you worded that.
And you're right, the way prices are going, I really do prefer my money right where I can see it.