1253: How Many Jobs is Too Many Jobs? by Elissa Bass of Get Rich Slowly on Gig Economy & Work-Life Balance

[00:00:00] This is Optimal Work Daily, episode 1253.

[00:00:04] How many jobs is too many jobs?

[00:00:07] By Alyssa Bass of Get Rich Slowly.org.

[00:00:10] And I'm Dan, your host, and I'm here with you every single day reading to you from these great blogs that we find on productivity, work-life balance, and so much more.

[00:00:20] And so let's get to it right now as we optimize your life.

[00:00:23] And so let's get to it right now as we optimize your life.

[00:00:29] How many jobs is too many jobs? By Alyssa Bass of getrichslowly.org.

[00:00:34] As I write this, I'm on vacation.

[00:00:36] And I'm not just working for GRS while on my break.

[00:00:39] I'm posting on social media for six other clients and writing freelance pieces for two other websites. So when I say I'm on vacation, I really mean that I'm working in a house that's not my

[00:00:48] own with a lovely view of a beach.

[00:00:51] Since being laid off from my traditional full-time job three years ago, I've fashioned a working

[00:00:55] life that involves working from multiple entities doing multiple tasks.

[00:01:01] Staying afloat when prospects are slim.

[00:01:04] My most stable employer provides 25 hours a week, but it's also the lowest paying.

[00:01:09] The rest range anywhere from 3 to 10 hours a week depending on what's happening and

[00:01:13] what's needed.

[00:01:14] Some of the work is seasonal, some clients pop up for a few hours' work and then disappear

[00:01:18] for months.

[00:01:19] I'm not complaining, I love what I do and I have fun doing it.

[00:01:23] But juggling multiple employers all with different needs and different temperaments,

[00:01:27] seven days a week, 365 days a year?

[00:01:30] Well, let's just say, I hope I'm not still doing this when I'm 65.

[00:01:34] My income fluctuates, sometimes wildly, from month to month, and I never stop hustling for

[00:01:39] that next job in order to make sure we have enough coming in to keep the ship afloat.

[00:01:44] I created this employment scenario because, after I was laid off, it became clear pretty

[00:01:48] quickly that I was not going to find a comparable full-time job in my area, especially at my

[00:01:53] age, 50 at the time.

[00:01:55] And I'm far from alone.

[00:01:57] Since the Great Recession began, America's part-time workforce has grown exponentially.

[00:02:02] It's called a gig economy, and it means there are millions

[00:02:05] of Americans who subsist on multiple part-time jobs to get by.

[00:02:09] Involuntary part-time workers

[00:02:12] According to the U.S. Department of Labor, in 1968, when they first started collecting

[00:02:16] this information, 13.5 percent of U.S. employees were part-timers. That number peaked at 20.1

[00:02:23] percent in January 2010, a direct result of the massive

[00:02:26] downsizing that took place during the Great Recession. The latest data point at the time of

[00:02:31] this writing is 18.2% that's last month. The U.S. Department of Labor said there were 5.9

[00:02:38] million people categorized as, quote, persons employed part-time for economic reasons, sometimes referred to

[00:02:45] as involuntary part-time workers. These individuals, who would have preferred full-time employment,

[00:02:51] were working part-time because their hours had been cut back or because they were unable

[00:02:55] to find a full-time job, end quote.

[00:02:59] Speculating on cause

[00:03:01] Some also speculate that the relative stability of that part-time figure since the end of the

[00:03:06] Great Recession was triggered by the Affordable Care Act, which requires employers of large

[00:03:10] businesses to offer healthcare coverage for employees who work 30 hours or more per week.

[00:03:15] Many large companies, including Walmart, Target, Trader Joe's, and Home Depot,

[00:03:20] lower the number of hours that employees worked to avoid paying health care.

[00:03:25] Technically the Fair Labor Standards Act, FLSA does not define full-time employment

[00:03:30] or part-time employment, leaving it up to the employer.

[00:03:33] Anectotally part-time is fewer than 35 hours a week.

[00:03:37] In an article on CNN.com, Chris Tilly, a UCLA economics professor, notes that many part-timers

[00:03:43] are paid less per hour than full-time workers

[00:03:46] with the same responsibilities. They're more likely to lose their jobs than full-time workers,

[00:03:50] and they often have no health benefits or paid time off. What it's like for people.

[00:03:56] I have lots of friends and relatives who work multiple jobs. My husband works a full-time job

[00:04:01] and a part-time job. Others work a full-time job and drive Uber or sell their handicrafts or pick up occasional freelance work as needed.

[00:04:09] It seems these scenarios are more than norm than the traditional 9-5 job that offers nights

[00:04:13] and weekends off and two vacations a year.

[00:04:16] I mean, really?

[00:04:17] Do you know anyone living that life?

[00:04:19] We asked our friends on the Get Rich Slowly Facebook page what their employment picture looked

[00:04:23] like and received a variety of interesting responses.

[00:04:26] Many work multiple jobs, although according to them, it's by choice.

[00:04:31] Clear too is that full time is typically far more than 40 hours a week, with many reporting

[00:04:36] they work 45 to 60 hours a week as their regular work week and then add a part-time gig on

[00:04:41] top of it.

[00:04:42] Here's a sampling.

[00:04:44] Three jobs.

[00:04:45] Quote, three part-time.

[00:04:47] Freelance bookkeeping and taxes.

[00:04:50] In California, it's almost impossible

[00:04:51] to find a good full-time position that pays well

[00:04:54] and make triple what I used to working 40 for one job,

[00:04:57] working 30 hours for three companies.

[00:05:00] End quote.

[00:05:01] Two jobs.

[00:05:02] Quote, I left full employment last year. I'm trying to set myself up with a few part- Two jobs. Quote, I left full employment last year.

[00:05:06] I'm trying to set myself up with a few part time jobs.

[00:05:09] Right now I have two and I'm looking for a third.

[00:05:12] End quote.

[00:05:13] Two jobs.

[00:05:14] Two paid if you count a freelance writing venture I just started.

[00:05:18] Already got and finished my first paid gig writing two press releases for an Australian

[00:05:22] music label.

[00:05:23] The second one is as a sales assistant, cold calling, upselling, follow-up, etc. I've also taken over the bookkeeping

[00:05:30] of the bookkeeper. That's my Monday to Friday 9 to 4.

[00:05:34] End quote.

[00:05:36] One job. Quote.

[00:05:38] I work one very part-time job while my husband works a full-time job. Daycare is ridiculously

[00:05:43] expensive so I only work weekends.

[00:05:45] When I do work weekends, I work the overnight shift, sleep until about 11 a.m., and spend

[00:05:50] some time with my family.

[00:05:51] It works out well.

[00:05:54] And three jobs.

[00:05:56] I have one full-time salary job and two side hustles, teaching panel lessons and selling

[00:06:01] knitted toys I make.

[00:06:03] I don't think I'd ever be able to focus on just a single money-making pursuit."

[00:06:07] End quote.

[00:06:09] Alyssa here again.

[00:06:10] Sometimes I miss the stability or monotony of the single full-time job.

[00:06:15] I did take an actual vacation back at the end of June,

[00:06:18] and the amount of work I had to do in advance of taking those seven days actually off almost killed me.

[00:06:24] It's actually less stressful to just keep working in the house that isn't mine with a lovely view of a beach.

[00:06:30] You just listened to the post titled, How Many Jobs Is Too Many Jobs?

[00:06:38] By Alyssa Bass of GetRichSlowly.org

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[00:08:50] Get started today.

[00:08:52] And thank you not just to Alyssa, who's a guest writer,

[00:08:55] but also to JD, who owns and founded Get Rich Slowly.

[00:08:59] JD considers himself just a regular guy

[00:09:01] who's learned about money through the school of hard knocks.

[00:09:04] By 2004, he had acquired over $35,000 of consumer debt through credit cards, personal

[00:09:09] loans, and a car loan, and was living paycheck to paycheck on a salary of $50,000 a year.

[00:09:15] He didn't have savings, and in October of that year, he hit rock bottom.

[00:09:19] He drafted a three-year plan to get out of debt and never look back.

[00:09:23] In less than a year, he had set aside a $5,000 emergency fund and had increased his cash flow by $750 a month. He put that into debt

[00:09:31] reduction and in December of 2007, just three years later, right on schedule, he became debt-free

[00:09:37] for the first time in his adult life. And now, he's an early retiree. So come on by Get Rich

[00:09:43] Slowly dot org to learn a lot more about JD's story, get some great

[00:09:47] content, there's articles and resources there you can check out.

[00:09:51] And again, a big thank you to JD for letting us share his work.

[00:09:54] But that's it for another edition of Optimal Work Daily.

[00:09:57] I hope you enjoyed the post today from Get Rich Slowly that you're having a great day

[00:10:01] out there.

[00:10:02] And I'll be back again with you tomorrow for the Thursday show, where your optimal life

[00:10:06] awaits.