Bob McKay Identifies Key Strategies for Success in the Growing Gig Economy
Bob McKay, President at Together Credit Union, suggests that the best side hustles are those built on repeatable systems that can create lasting value over time. As inflation and rising living costs continue to pressure household budgets, the gig economy offers a flexible way to generate extra income without requiring a full-time job commitment. McKay notes that success in the gig economy requires consistency and repetition rather than jumping between various ideas. He highlights several viable options, including freelancing, online tutoring, and AI prompt engineering. For example, freelancers have already contributed approximately $1.5 trillion to the U.S. economy, demonstrating the significant scale of the independent workforce. Other lucrative opportunities include Amazon reselling, digital product sales, and social media management. These roles allow individuals to monetize existing skills, such as web design or graphic design, to create steady income streams. McKay advises individuals to wait until a side hustle generates consistent, reliable income for several months before making a major transition, ensuring they have accumulated enough savings to handle taxes and dry spells.