21
people in my life have lost their jobs since October 2024. Some were laid off due to budget cuts or downsizing, others were terminated because they were considered “low performers,” and some had to voluntarily leave because forced RTO mandates made them choose between employment and affordable housing.
Six out of these 21 were planning on buying a home, but that is now a distant dream. Five out of the 21 were planning on starting a family but have had to put their plans on hold due to a lack of financial stability. Three out of the 21 have been laid off twice since October. All 21 are still unemployed.
Given that the average job hunt is now approximately a year long
The solution to their problems and all of ours is clear:
We all need a second source of income that is not tied to a 9-to-5.
01Future of Uncertainty
No one knows what is going to happen tomorrow, and the future is not beholden to any promises or guarantees.
That employment letter stating you are a permanent employee is a circumstantial agreement at best. Should the nature of the business change, you will be the first to find out why permanent does not really mean permanent.
The promise of a promotion and a salary increase should you meet all your KPIs is also circumstantial at best. There is no guarantee that you will receive what was promised.
Inflation and the cost of living are also not in your control and the business you work for is not required by any law to pay you a salary increase to match inflation.
The future you are going to be a part of is a future of uncertainty. Do you want to wait and find out, or do you want to be prepared for this uncertainty?
Minimum wage has not gone up in more than two decades, and even if it does, you may still not be able to afford a place to rent by yourself or save for a house.
And to top it all off, AI is slowly creeping its way into mundane and repetitive tasks. Within the next five years, we will see the elimination of many roles, leaving a lot of people unemployed and unable to find a stable source of income.
02The Time Is Now
I am not going to sell you ideas on how to generate a second source of income. What I will tell you is that you need to find something you can do with your own hands or leverage your own skills to generate additional income.
Whether it is selling your skills as a service to startups or businesses, or monetizing your passion for baking or making handmade goods
Whatever your passion, you need to find a way to monetize it. The internet is full of instruction manuals, ideas, and resources to help you get started.
Notice that I am not talking about investing your money, buying real estate, or day trading your way to the top. Those avenues require a steep learning curve or a much larger capital investment, and realistically speaking, most of you will avoid anything with a steep learning curve. The majority of you lack the capital to dive headfirst into investing or building a real estate portfolio.
Passion is where you want to start because it makes everything else digestible and gives you the motivation to continue through the difficult phases.
Start a list and work your way from there.
Do not focus on the revenue potential. Focus on what you really give a damn about, what you are willing to talk about for days on end.
The job market is not employee-friendly, and to be honest, it never was. Since COVID, we have seen a monumental shift in the way the market works and values talent. I am being very direct when I say:
We are all replaceable. Why play this game? Why suffer needlessly? Why live with the fear that tomorrow you may be out of a job?
Some of the top earners at Google, Meta, Netflix, Microsoft, Apple, Samsung, and Amazon have recently learned how expendable they really are and have seen the tactics their employers are willing to employ just to get rid of them.
Others are waking up and forging their own paths, chasing after their dreams, following their passions, and seeking a life that is truly under their control.
It’s time for you to play a different game. It’s time you wake up too!
The best time to start was yesterday and the next best time to start is today
