- California millennials are quietly taking on multiple remote jobs to save for retirement.
- He said he could make more than $100,000 in 2023 and retire by age 50.
- He shared why he decided not to look for a new job when his second role ended this year.
Adrian, a data analyst in his 30s who lives in California, quietly started working multiple remote jobs in July 2023. For a while, it was well worth it.
Last year, he spent about Combined, he makes $110,000 from the two jobs, according to documents viewed by Business Insider. Thanks to this overemployment, he believes he will be able to afford to retire within the next five to 10 years and move somewhere overseas where the cost of living is lower than in the United States.
But by the time his second contract finished in March, Adrian said he felt a huge sense of relief – and almost didn't want to be overemployed again.
“Yes, I made a lot more money than I ever made before, it was a clever idea and fun to tell my friends about, but life is better now,” said Adrian, whose identity is known to BI but who asked to use a pseudonym for fear of professional repercussions.
Adrian is one of the many Americans who work multiple jobs to boost their income, often in secret. BI interviewed about 20 such people, many of whom work in IT and technology, and use the extra money to pay off student loans, save for retirement, buy vacations or diet pills. While some companies are okay with employees having side jobs, doing so without permission can have negative consequences.
But these days, fierce competition for remote work, mandates to return to the office, and burnout have made the overemployment lifestyle unsustainable.
Adrian shares how and why he first found himself overemployed, his best advice for navigating it, and why he's happy to be back to just one job.
Fear of retirement led to overemployment
While many Americans struggle to save for retirement, Adrienne is one of those who has created unique income and savings mechanisms to retire early.
When a recruiter messaged him on LinkedIn last year about a full-time remote contract role, he decided to listen.
During the interview process, Adrian realized he might be able to juggle both roles. He asked for $70 an hour, which was at the high end of the salary range for his new job.
“If I was going to have a side hustle, I wanted to make sure it was worth it,” he said.
A few years ago, Adrian would never have made a career decision focused on maximizing his income.
He always believed that if he loved what he did, he'd never have to work a day in his life. He never really worried about his financial future or how much money he was making. This philosophy led him to take a job that he found “surprisingly fun” – in a completely different industry than his current job – that he says paid less than $40,000 a year.
“I never really thought about retirement, so I wasn't really interested in making money,” he said. “I just assumed I'd work until I was older, then I'd retire, and somehow it would all work out.”
But a few years ago, Adrienne underwent a personal “change” that led her to prioritize her financial health and future.
“I knew I'd never be able to truly retire if I continued doing my old job,” he says, “but I never thought about it and I liked my life.”
He started by looking for a different career path, going to graduate school and then searching for a job for about a year, which nearly drained his savings, before landing his current job.
Next, he started saving as much as he could. He and his wife managed to avoid paying rent for a year by doing housework and pet care and moving houses monthly. He also maxed out his 401(k) and Roth IRA, investing in low-cost index funds and striving to live in low-cost-of-living areas while maintaining a “high-cost-of-living salary.”
When the opportunity to work multiple jobs arose last year, it was just another way for him to improve his finances.
What I look for in a side hustle and why I'm happy to no longer be overemployed
Adrian said his second employer knew he had a day job but “didn't mind” as they were happy with the quality of his work. He never made his side hustle a full-time job, but believes his employer wouldn't have minded because he was a “top performer”.
Adrian said people should be “fully comfortable” in their primary role before taking on a side job.
“You need to feel comfortable enough in your first job that you actually have the extra time to get the other thing done,” he said, adding that it helps if both jobs are flexible, independent and don't have a lot of meetings.
It's also important to be prepared for the increased workload to impact your personal life, he says. This is perhaps the biggest part of work-life balance that he wasn't fully prepared for, and why he hasn't looked for a replacement for his side hustle since his contract ended in March.
The workload varied, but Adrian said he was often working more than 40 hours a week between the two jobs, including nights and weekends.
“It's too stressful, it takes too much time away from my partner, I can't go outside or go to yoga. It's not worth it,” he said of overemployment. “I made a ton of money last year, but my goal for 2024 is not to maximise my income.”
Instead, Adrienne said she wanted to prioritise her health, social connections, her partner and “having fun.” Though she was much more focused on money than she had been before, she realized taking on a side hustle eventually got too much.
Even without the extra income, Adrian said he could still retire before he's 50. He wouldn't rule out taking on a second job one day, but he said it would have to be a light workload. For now, he's happy just to have another job.
“The stress and time saved is well worth it,” he said.
Do you have multiple remote jobs at the same time and can you provide details about your pay and work schedule? Are you a manager with experience dealing with overemployed employees? If so, please contact this reporter. jzinkula@businessinsider.com.
