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A US man earns over ₹1.4 crore in a year, this is what he did to double his income
The US man came across a video that gave him the idea of juggling multiple jobs, leading to a better income.
US resident Adam's annual income in January 2023 was approximately $85,000 (approximately. ₹70 lakh), and he owed roughly $118,000 ( ₹98 lakh) in student loans. But by year's end, he'd increased his yearly salary by double to more than $170,000 (around ₹1.4 crore). This allowed him to lower his loan burden by more than $50,000. And now, as of March, he had roughly $65,000 (approx. ₹54 lakh) remaining in student loans, reported Business Insider. But how did he do that? Well, Adam started double-dipping. For the unversed, double-dipping means obtaining an income from two different sources; generally, it is an illicit way to earn more.
In 2022, Adam started to deliver food with DoorDash. However, he soon realised that it was not a profitable profession. Later, he came upon a YouTube video that gave him the idea of juggling multiple jobs at once. “I immediately knew that I could do this,” Adam said to Business Insider. (Also Read: IIT-Madras alum, who got ₹92 lakh Google offer in college, joins OpenAI after 10 years)
When he started looking for a second remote job, he had two main goals: to double his income and pay off his college loans within two years. By February 2023, he had begun a second full-time remote job, where he received $55 per hour. Adam said he hopes to earn around $200,000 this year from his two jobs. In terms of school debt, he is on track to complete repayment.
Adam stated that approximately 70% of his student loan debt was due to his undergraduate schooling. The rest came from graduate school.
He told Business Insider, "I don't necessarily regret taking out the debt because it did help open more opportunities. I do regret being reckless and having poor money management skills." (Also Read: Uber driver struggling to buy school bag for daughter gets a surprise from Delhi rider)
Adam also claims that overemployment has allowed him to max out his 401(k), raise his credit score to nearly 800, build a four-month emergency savings fund, and even support a few friends financially.
Adam told Business Insider that he normally works between 30 and 60 hours per week between the two jobs. He has various suggestions for over-employed workers, including aligning their work calendars, not taking on too much work, and not getting work done too quickly.
