Amy Marseglia, Nancy Turgeon, and Anne Savino have a lot in common: they are all full-time real estate professionals who have been juggling side jobs for quite some time, making them part of a growing number of Americans reshaping the traditional “9 to 5” work model.
A recent survey conducted by background check company Checkr revealed that 42% of respondents stated they hold multiple jobs or side hustles, with 52% of Generation Z (ages 13 to 28) also falling into this category.
The main reason cited is that one job is no longer sufficient to meet their financial needs. The survey indicated that nearly 76% of respondents stated that due to the rising cost of living, their income’s purchasing power is not as strong as previous generations.
Checkr stated in a press release, “Economic uncertainty and the rise in the cost of living are reshaping Americans’ perspectives on work and how many jobs they need to make ends meet.”
The non-farm employment report by the U.S. Bureau of Labor Statistics on June 6 also reflects this trend. The report revealed that as of May, 8.58 million Americans were holding multiple jobs simultaneously, the highest number for May in the past decade.
Of these, 4.678 million individuals were working a full-time job and a part-time job, while others were engaged in two full-time jobs or multiple part-time roles.
Taylor Kovar, founder and CEO of Kovar Wealth Management and CEO of The Money Couple, told Dajiyuan Times that over the past decade, there has been a significant increase in individuals engaging in side hustles.
Kovar stated, “Some people work full-time and part-time jobs to make ends meet, while others take on a second job temporarily for vacation, big-ticket item purchases, or paying off credit card debts.”
“I think advancements in technology have made this easier, such as online freelance work, services like Etsy, Uber, or DoorDash.”
Kovar referred to this as an economic “red alert” moment. As a financial planner, his goal is to help individuals and couples alleviate economic pressures by implementing reasonable budgets, reducing debts, and exploring creative avenues for additional income.
“This trend has also made me realize that the financial circumstances of many families are tighter than they would like, with almost no savings to cover unexpected expenses,” he added.
Amy Marseglia, a real estate agent at William Raveis Real Estate in Wellfleet, Massachusetts, spends her spare time shopping for groceries for elderly individuals with mobility challenges. With over 20 years of experience in the real estate industry, she took on the role of a personal shopper during the COVID-19 pandemic and continues to find joy in this side hustle while earning extra income.
“For me, it’s quite relaxing,” she said. “It’s just a small thing – I go to the supermarket, chat with people, and shop according to the grocery list.”
Marseglia typically works a few hours twice a week starting at 7:30 in the morning. Many of her clients are repeat customers, so she knows what they want and where to easily find those items.
She mentioned, “The real estate industry has scattered working hours, so having a side hustle opportunity, even if it doesn’t pay much, to earn extra income during real estate transactions downtime is beneficial.”
Like many reports in the media, the residential real estate market has stagnated over the past few years, with low inventory and buyers being priced out of the market due to high property prices.
A new report released by real estate brokerage Redfin in May revealed that nearly 59,000 home purchase contracts were canceled in the United States, accounting for 14.6% of the total signed contracts that month.
This is not the first time Marseglia has relied on side jobs to boost her income.
“If the real estate market continues like this, I will continue with my side hustle, or even if the market picks up, I will still keep doing the side hustle,” she said, noting the mental effort required, especially when juggling a full-time job.
Nancy Turgeon, a real estate agent at Keller Williams Realty in Hyannis, Massachusetts, transitioned to this role six years ago after working in corporate accounting for 40 years. Her side hustle involves painting pet portraits and custom home portraits, a talent she discovered a few years back.
She told Dajiyuan Times that through YouTube tutorials, she honed her craft and started painting for friends, gradually building a side business through word-of-mouth referrals.
“I enjoy the extra income and the pleasure it brings. I love seeing the joy on people’s faces when they receive the artwork,” Turgeon expressed.
Kovar pointed out that in many cases, a second job is seen as a way to fill in financial gaps or save money.
“Many people tell me they plan to do their side hustles for about six months, but in reality, in many cases, as the income rises, so do the expenses,” he said. “They start with good intentions of saving for something but inevitably, with the additional income, their spending habits tend to change.”
In other scenarios, side hustles stem from a genuine love for the work people do.
“If you love what you do, and it doesn’t feel like work, then sticking with it becomes much easier,” he emphasized.
Some people engage in side hustles for enjoyment, to enrich their leisure time.
Anne Savino, a real estate agent at William Raveis Real Estate in Yorktown Heights, New York, describes her side hustle as something she does simply for the joy of it.
After working for years as a vice president at Merrill Lynch, she became a full-time real estate agent in 2009. In 2012, she and her husband Larry took over a bar inside the Mohansic Golf Course in Yorktown.
“Larry had been playing golf there for many years, and the restaurant was quite struggling at that time,” Savino shared.
“They were looking for new operators to take over the restaurant, and despite our limited knowledge of the food industry, we decided to give it a shot anyway!”
Savino recalled that hardly anyone used to walk past the golf supply shop to reach the restaurant in the beginning.
“So, I decided to change that,” she said. “I made a point to greet every customer entering the shop and suggested they come over for lunch at the restaurant.”
Seeing an opportunity to expand the business, the Savinos extended the operating hours, started inviting local bands to perform, and transformed the restaurant into one of the most popular casual dining, live music, and dancing venues in the area, all without requiring an entrance fee.
“This has been beneficial for the community and a positive experience for the musicians,” Savino said.
Though she is incredibly busy during the day as a real estate agent, Savino usually visits the bar at night. She admitted that she doesn’t do it primarily for the extra income but because she genuinely enjoys it.
“This place is like a second home to us; we all work hard together, and the staff feels like one big family to us,” she added.