What has not changed that much for Americans over the past 50 years is the success rate of those who always earn more than what is spent. Therefore, a key motivator for incremental work and the opportunity to increase earnings is actually very basic. Perhaps, we do not really need to attempt to inspire people to reach new heights as much as we need to help them realistically understand how to move from where they are to a better place of enjoyment for the life/work experience.
The high satisfaction rate revealed in research conducted by Peterson/Fleming between 2020 and 2023 found a rather high satisfaction rate for the work being done regardless of the type of gig engaged. This may be more related to related to the fact that expectations are very realistic and most who participate meet their expectations. A few hundred dollars, successfully achieved in a sustainable manner can make a difference over a period of time. The trend toward multiple gigs (approximately 60%) may also be related to a desire to embrace that which is clearly understood and rather flexible to engage in vs the amount of money that is earned. Multiple gigs, we assume, means multiplication of the income possibility for the gig worker. Fleming, author of Ultimate Gig, hypothesizes that a few hundred dollars earned incremental to core earnings can often make the difference in the earning and spending equation. Earning more than what one spends is always the major key to wealth accumulation when the difference is managed effectively no matter the amount.
Easily accessed research reveals that 58% of Americans have less than $5,000 in savings. More specifically, 42% have less than $1,000 in savings, while another 20% have more than $50,000 in savings.
The entrepreneurial choices available to Americans has never been greater. You can turn a hobby into an enterprise, at least your own small business. Underutilized assets such as time, skills, experience, passion, and purpose can enable a new income stream whereas you can learn as you go and actually have fun in the process. These choices are available to the student as well as the more mature, everyone is included!
