Serial entrepreneur and investor Cedric Nash is a firm believer and living example that anyone – regardless of age, race, income, or starting point – can build wealth.
It can be done even while you’re still working at your nine-to-five job, he insists, but it takes “a burning desire, unshakable faith, grit, a willingness to make the necessary sacrifices, the courage to step out on faith, and the ability to patiently and consistently execute his wealth building process over time.”
That’s where the “side hustle” comes in.
“The best way to actively increase your earnings is through a side hustle,” says Nash, founder of The Black Wealth Summit. “In order to build assets and earn more, you have to be willing to do more. No matter what your predilection or interest, there’s a side hustle out there to help you up your net worth by increasing your investment capital. The opportunities to create additional streams of income are right in front of you and can help you build generational wealth for your family.”
Nash also is the founder, owner, president and CEO of Oakland Consulting, author of the newly released books, “Why Should White Guys Have All the Wealth? How You Can Become a Millionaire Starting from the Bottom,” and “The Millionaire Money Moves Supplemental Investment Guide.”
His approach is to show people how to use age-old principles to build wealth and create sustainable income for life by saving and investing in stocks and bonds, real estate, entrepreneurship, and private equity.
Here’s his list of 10 side-hustles to consider for creating additional income streams while on the job.
- Make, buy, or resell products to people all over the world on the Internet.
- Publish a book, make a movie, write a song, or create beats, and sell them online without the need of a publisher, record company, or film distributor.
- Drive for Uber and/or Lyft and earn money in your spare time, in the evening, or on weekends.
- Have a license to do hair? You can work in a salon part time and make thousands of dollars working weekends and evenings alone.
- Own a piece of property or have an unused bedroom? You can rent them out on Airbnb or VRBO.
- Work as a realtor. It’s one of the oldest side hustles out there because you usually show houses in the evenings and on weekends when most homebuyers and renters are available.
- Help small businesses manage their social media pages.
- Are you a certified fitness buff? You can get paid while you work out from your home, at a local gym, or even by working out with your clients in a public park.
- Have computer skills? Why not consult with businesses from the comfort of your home or in their office location on weekends.
- Get a therapist’s license and earn money counseling folks on Zoom from the comfort of your home or at a counseling center.
According to 2022 report by the automation platform Zapier, 40 percent of Americans already have a side hustle. And a survey of 2,000 workers by the freelancing platform Fiverr shows 73 percent of Americans plan to start one in 2023.