George Conner, 78, retired from his business as owner of two companies in 2007. He took it easy for the first few years, but to supplement his Social Security and pay his medical expenses, he tried various jobs — including handing out auto parts — before testing out an Uber ride.
Thank you for reading this post, don't forget to subscribe!They started in Central Florida in 2018, using 5-day speed for a gap source of revenue. His fitness problems had made sick leave a full-time activity, and he valued the versatility of the gig to set his personal schedule. This also made him realize that he had some role in the escape. On the other hand, he estimated that he earned only $13 to $15 per month before costs such as gasoline and automobile repairs, giving him a net profit of about $7.35 per time.
He left Uber and attempted to find another full-time job for about two years, although he had to quit again in June due to fitness problems. Working only on weekends during peak hours, he said he earns about $16 per time, making him more financially sound, but still not enough to live a comfortable life. He said that all this experimentation had made his car “almost worthless”.
Many habitual US citizens recently told Trade Insider that they are struggling to get Social Security and are forced to pull part-time or full-time jobs. Some people worry that after working behind a desk for four to five years, they’ll never be able to quit.
Some people recently started applying for Uber and Lyft to earn side income and have the convenience of getting things done. Some drivers BI spoke to said it was the best option that could deal with their appointments, home repairs and fitness problems. Others said they wanted a provider position after working with the community for several years.
However, many said with declining profits and regulations becoming harder to get around, they are worried about their financial future. Some people are considering returning to day jobs, while others are ready to take bookings because any source of revenue can help pay the rent or put food on the desk.
“Uber offers people from all walks of life the ability to get things done when and where they want,” an Uber spokesperson advised BI. “We’ve seen retirees and seniors take advantage of this opportunity to increase their income and meet new people – and even get a college degree for free.”
Lyft did not respond to a request for comment.
There’s one thing to do in escape
Some drivers, like 75-year-old Glenn Mueller, said Uber rides give them something to escape from. Mueller, who drives in Naples, Florida, only works out at a one-month pace because he doesn’t rely on water usage to make a living, and he uses his profits for bills like dinner or filling his tank. Is.
“I think driving is beneficial other than financial reasons — it gives them something to do,” Mueller said. “It’s important that they’re still part of their community, and it keeps them physically active.”
Others, like 72-year-old Bob Milosavljevic, are relying on using the source of revenue to supplement their Social Security revenue source. The Boston driver has worked as an IT and cyber security expert and is not entirely dependent on the use of this source of revenue.
Milosavljevic said his main reason for founding ride-hailing driving five years ago was to get out of the house and engage with society. As the pandemic ended, he said his non-public budget limit was not very good, and the gap source of revenue helped fuel rising inflation.
“I don’t see any option for people like me except to go out and find a real job like a desk job,” he said. “I’ve worked my whole life to get away from him, and I’m not expecting to go back to him. I’ll avoid it at all costs. But I think it won’t get any easier for us than it is today, and Today is not an easy day.”
They estimate that their profits have declined by 25-30% in the last 18 months, which is in line with the profit statements reviewed through BI. He has observed that incentives have decreased, and increased popularity has contributed to less successful rides – he now rejects some of the available rides because they no longer hold utility. As a used driving force, he remains fearful of using his safety week, despite the fact that he has not had any problems recently.
Milosavljevic said, “The reality is that people who work 9 to 5 jobs in the private sector and expect to be able to retire on social security are deluding themselves.” “That’s just not possible. It’s imperative for retirees to contribute religiously to those 401(k)s and resist the temptation to dip into them before they retire.”
Ride with some alternative options
For some Uber and Lyft drivers in their fledgling years, versatile business options are few and far between.
David Petrie, 74, was dismissed from his position as a computer ground engineer. Now, Petrie, who lives in Anderson, South Carolina, said he will receive $1,780 in Social Security, which is not enough to cover all of his expenses. He worked at Uber part-time six years ago for another source of income, but has come to trust it more as one of his best options for getting enough work done.
Using his speed gives him the versatility to paint when needed. He said he earns about $700 per speed with Uber, which he said made it too paltry for him to get by. He also said that there has been a deterioration in the rules even though he is making every possible effort to make his passengers feel comfortable.
“My income goes down because of the overhead,” Petrie said. “My income is also going down because the fees are going up, and people can’t afford Uber. They can’t even tip for a number of reasons, one is lack of funds and the other is tipper revolt.”
Steve Wilkie, 72, has a similar story. He retired to Southwest Florida 11 years ago and began working for Uber and Lyft in 2017 to supplement his Social Security. Still, he said his profits are down because he makes enough to justify the hours and cash he uses.
He struggles to collect $20 in ill-gotten gains at a time, displays screenshots, and does not make long trips to Miami because he usually cannot get return trips. He worries that he and his wife – who still works part-time as a babysitter – won’t be able to afford bookings financially.
“To drive from home to the airport in Fort Myers they have to pay about half what they used to pay, and gas prices, car repairs, maintenance costs and auto insurance have all increased significantly, I’m just making money. I can because I’m extremely efficient driving and have a fully depreciated 2013 Toyota Prius with 350,000 miles,” Wilkie said.
Some drivers have ophthalmic benefits
For some drivers, the transition to Uber and Lyft is difficult, no matter how rewarding it may be.
73-year-old Marilyn Cassidy spent most of her time as an unwed mother caring for her disabled daughter, leaving her with little savings to save her life. The former paralegal supplies what she can to provide for her daughter and grandchildren using her source of revenue in Myrtle Seaside, South Carolina.
She drives two to three times as fast in daylight with a salary of $100 to $150 a month, although recently she has struggled to do so. She enjoys the fact that every month is like an “adventure”, despite the fact that she fears such action might harm her almost flawless efficiency.
“It helps me afford basic living expenses and car expenses and helps me stay independent and active,” Cassidy said, noting that she’ll get directions for about half of her rides. .
Suzanne Harvard, 67, doesn’t rely on Uber to pay her expenses in Salt Pool Town, despite the fact that the additional source of revenue is available for trips or extreme bills. Since he receives a sufficient amount from Social Security and has enough saved up, he does not feel the urge to make early payments at night or on weekends, when profits are consistently higher.
She drives at 15 to 20 hour speed and has an empty car, driving as smoothly as possible, aiming for authentic conversation, and helping many passengers with luggage.
“The really best thing about it is that when I’m ready to travel, I don’t have to ask the boss for vacation time, and I get the same amount of vacation time available at any regular job anyway. Travel a lot. I just stop driving,” Harvard said. “I always say I’m at a point in my life where I can’t stand being told what to do anymore.”
Are you the driving force behind Uber or Lyft going through its migration years? Contact this reporter nsheidlower@businessinsider.com,
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