” Sometimes you have to take two steps back to take ten forward.” Nipsey Hussle

Recently I read a CNN article entitled “Many Millienals are Worse Off than their Parents a first in American history” written by Tami Lubby. She argues that millennials people born between 1981-1996 have come of age during the worst financial crisis. Said differently, millennials are the first generation not exceed our parents in terms of job status or income. Some older Americans say that millenials are trapped in student loan debt because they decided to attend school and take out those loans. Additionally, some adults 45 and older believe that young people should look for lower loan interest rates and work harder to repay the debts.

Loan borrowers between the ages of 18-39 owe $840 billion of the nation’s $1.5 trillion dollar student debt as this year’s second quarter, according to Federal Reserve Bank of New York data, while those aged 18 to 49 owe $1.16 trillion.

So let’s look at the reality. When we were growing up we were told work hard, go to school, and get a high paying job. We were told that college automatically guaranteed we would get that high paying job, the house, car, family, etc. When that did not work we were told go to graduate school because our Bachelors degrees were no longer valuable. But that did not happen either. Life after graduation presented more roadblocks. You applied for that job in your field and you were told you needed experience or that you had to take a low salary. Now you have a job that you hate and a pile of debt for degrees that you cannot even leverage. Now you have to move back home with your parents and delay your plans to start a family. At this point I believe it is safe to say we have a generation of people who were fed a huge lie and there has been serious financial repercussions because of it. Standardized test were shoved down our throats and our measures of intelligence were measured by regurgitation. Our school systems shifted the focus away from useful skills and practical knowledge. However, all is not lost. The future will belong to the innovative and creative.

The good news is as millennials we also came of age during the rise of technology. This gives us many opportunities to reshape the trajectories of our lives. Smartphones, laptops, and tablets are tools that can be used to create wealth.

Start a side hustle. What is a side hustle? A side hustle is another way to create more income and you do not necessarily need to go get another 9 to 5 job. Don’t get me wrong there is nothing wrong with having a job. Although most people would agree that it would be cool to have more than one stream of income. Having one stream income is bittersweet. The sweet side is you know exactly where your money is coming from it is predictable. Also you know that you have guaranteed benefits for health and dental appointments. The bitter side is all of your time is dedicated to giving your talents to your employer. When you want to take a vacation or might have to attend a funeral you are usually required to seek permission for this. Additionally, one stream of income puts a limit on your financial thermostat.

What are some of the best side hustles for 2020 and beyond?

Copy writing, blogging, investing, forex trading, consultations, cooking, weight loss programs, webinars, sell courses, online tutoring, teaching a language, affiliate marketing, and dating advice. If you have access to a smart phone or tablet then you have limitless options. You can and should use the internet to your advantage.

Wealth Always Reigns Supreme