How To Make $50,000 Working Only 20 Hours a Week

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How To Make $50,000 Working Only 20 Hours a Week
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Are you underemployed or looking to make more money? The disruptive power of technology can ride to the rescue”¦as you give a ride to others in your area!

Ridesharing services can boost your bottom line

I love the research NerdWallet did taking a look at what drivers of ridesharing companies like Uber, Lyft, or SideCar can make.

In case you’re not familiar with the idea of ridesharing, it’s where anyone can make themselves available on demand via an app as a car for hire to give you a ride.

According to NerdWallet’s analysis of data from SherpaShare — a service that let drivers track income and expenses — an Uber driver can make $50,000 a year if they pick up an average of around 60 fares a week.

‘60.21 rides each week equates to between 20 and 21 hours of driving per week for an Uber driver,’ Business Insider writer Maya Kosoff reports.

In general, drivers for Lyft and SideCar make less money than Uber drivers. See below for the infographic.

How many rides does it take to pay for insurance?
Via:NerdWallet

If all of this sounds awesome to you, I would encourage you to first think of the work before diving in. You have to work weird hours, and your best days are often late Friday or Saturday nights picking up inebriated passengers.

But a fulltime driver can make $100,000 a year, according to the Nerd Wallet research!

Of course, it goes without saying that this is not for everybody. It’s kind of like truck driving. You can make money, but not everybody wants to do it. It is a high burnout profession.

Being a driver for a rideshare service can have a high burnout rate too. Read the RideShareGuy.com blog to get the inside scoop on this career. You’ll get the real deal on pitfalls, gotchas, and opportunities.

I should also mention that Uber and all the rest are controversial services. Local governments hate them because they love making money from the taxi cartel. Taxi drivers hate Uber because they paid big bucks for a medallion and then they have to compete with other groups like Uber and Lyft on an uneven playing field.

But this is a true example of how technology shaking up an industry can beneft you — as a rider or a driver!

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Clark Howard About the author:
Clark Howard is a consumer expert whose goal is to help you keep more of the money you make. His national radio show and website show you ways to put more money in your pocket, with advice you can trust. More about Clark
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