Gen X Are Hustling Like Gen Z — But For A Very Different Reason

Side hustles aren't just for TikTok teens anymore. Four in 10 retired Americans now fear their nest egg won't carry them through a longer, costlier old age, and many are copying Gen Z's gig-economy playbook to plug the gap, according to a new study.

What Happened: A new D.A. Davidson survey reveals inflation, stock-market whiplash, and doubts about Social Security have pushed Gen X and baby-boomer retirees back into the labor pool as substitute teachers, real estate agents, and rideshare drivers.

"The definition of — and classic timeline for — retirement is changing," said Andrew Crowell, vice chair of wealth management at D.A. Davidson. "A side gig doesn't have to be a last resort in retirement. It can actually be an integral part of retirement planning, supplementing savings while also encouraging engagement in the community and keeping the mind sharp."

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Nearly 60 percent of respondents said they either have or want auxiliary income. Yet only 20 percent name debt as the motivator. A larger share, 55 percent, cite social or mental benefits — echoing younger workers who moonlight to pursue passions as much as cash. Separate polling shows almost two-thirds of adults under 35 have launched, or plan to launch, a side business.

Why It Matters: Longer lifespans are amplifying the math. "Unlike past generations, current retirees are staying active longer in retirement and living longer, which increases the amount of money they need throughout retirement," said Patrick Doherty, senior vice president at Wealth Enhancement Group. He urges clients to pay themselves first by funneling gig earnings into 401(k)s or brokerage accounts before discretionary spending kicks in.

With 20-plus million retirees second-guessing their savings target, experts say the once-traditional vision of a work-free retirement is giving way to a hybrid model — part leisure, part Lyft — where extra income and community engagement share top billing.

Photo Courtesy: Natee Meepian On Shutterstock.com

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