I juggle two full-time jobs working from 9am to 10pm… trolls say I’ll have no life but I’ll be able to retire at 30
MANY of us dream of being able to retire early – and now one woman has revealed she juggles two full-time jobs to be able to do so in her 30s.
Jane may be just 24 but she’s already had enough of working and is determined to enjoy the relaxing life of retirement.
The young Canadian, who hasn’t disclosed her surname, currently works an astronomical 73 hours a week, spending her days working as both a marketing specialist and a customer service representative.
The two full-time jobs earn her a combined income of $120,000 a year – around £69,000 – a big chunk of which Jane puts away to be able to retire as early as possible.
”I really hate working, so I’m motivated to work twice as hard to get there twice as fast,” the hard worker said.
Both of Jane’s current jobs are remote, which means the 24-year-old can work from the comfort of her home, also saving money on commuting.
Her marketing work earns her $80,700 a year – or £46,000 – while she rakes in $18 an hour (£10), plus commission for her customer service role.
Jane also recently gave viewers a glimpse into a typical day in her life on TikTok, showing the long day working back-to-back jobs by the desk.
I respect the grind but remember to live life
Viewer
For the marketing job, Jane works 9am to 5pm and gives herself an hour-long hour lunch break, before immediately clocking on for a 5pm to 9pm shift in customer service.
The clip, shared on her page, went viral, garnering over a staggering 10million views – and a mixed response.
One person wondered: ”Is it really worth wasting your youth to retire a few years earlier?”
”Sitting and staring at a screen all day,” another agreed.
Someone else chimed in: ”You’ll retire without memories, life experiences or friends.”
”I respect the grind but remember to live life,” a fellow social media user reminded.
But despite the criticism, Jane reckoned the grind was worth it, as she hoped to reach financial freedom in less than ten years.
She explaining her thinking: ”I took on a second full-time job during the pandemic when everything switched to remote working. I now work around 70-73 hours a week.
”My goal is to retire by my early 30s. “Retirement” to me is kind of more aligned with the FI/RE financial independence retire early definition, which broadens to include living frugally or making money in non-traditional ways.”
Do I need to pay tax on my side hustle income?
MANY people feeling strapped for cash are boosting their bank balance with a side hustle.
The good news is, there are plenty of simple ways to earn some additional income – but you need to know the rules.
When you’re employed the company you work for takes the tax from your earnings and pays HMRC so you don’t have to.
But anyone earning extra cash, for example from selling things online or dog walking, may have to do it themselves.
Stephen Moor, head of employment at law firm Ashfords, said: “Caution should be taken if you’re earning an additional income, as this is likely to be taxable.
“The side hustle could be treated as taxable trading income, which can include providing services or selling products.”
You can make a gross income of up to £1,000 a year tax-free via the trading allowance, but over this and you’ll usually need to pay tax.
Stephen added: “You need to register for a self-assessment at HMRC to ensure you are paying the correct amount of tax.
“The applicable tax bands and the amount of tax you need to pay will depend on your income.”
If you fail to file a tax return you could end up with a surprise bill from HMRC later on asking you to pay the tax you owe – plus extra fees on top.
As explained by NerdWallet, ”Financial Independence Retire Early (FIRE) is a lifestyle movement that prioritises extreme saving and investing in order to retire earlier than traditional methods might allow.
”FIRE investors aim to achieve financial freedom so they can choose how to spend their time.
”People who use FIRE to retire early do so by drastically reducing their expenses, looking for ways to increase their income, and investing the money they save in a mix of tax-advantaged accounts as well as regular brokerage accounts.”
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