Money – In the news
‘Side hustling’ becomes the norm
Nearly half (46%) of people are supplementing their income with a ‘side hustle’, according to recent research1. The phrase, which originated in the United States, means taking on a part-time job in addition to one’s regular job in order to make more money. Of those who have a side hustle, over half (56%) first started it during the pandemic.
Returns trump ESG for two thirds of investors
Despite the growing trend towards Environmental, Social and Governance (ESG) investing, return on investment remains the ultimate priority for the majority of investors. Research2 has revealed that 66% of investors prioritise profit over humanitarian concerns. There are significant differences between the generations, however; just 28% of Baby Boomers said ESG was a factor when choosing investments, against 56% and 57% of younger Millennials and Gen Z investors, respectively.
More Baby Boomers work past retirement age and provide financial support to family
Nearly 40% of Baby Boomers (i.e. the generation aged between 57 and 75) are set to continue working past the current State Pension age of 663. On average, this group plan to work for a further 4.3 years past their 66th birthday. The same study highlighted that just under a quarter (23%) of Boomers are financially supporting their children, with this intergenerational subsidisation also cascading to a second generation; 16% of Boomers are providing financial support to their grandchildren.
2Charles Schwab 2022
3Dunstan Thomas, 2022
The value of investments can go down as well as up and you may not get back the full amount you invested. The past is not a guide to future performance and past performance may not necessarily be repeated.