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Independent Singapore
an hour ago
- Independent Singapore
5 genius ways Singaporean Gen Zs can turn side hustles into six-figure careers with just $5 or less and a smartphone
SINGAPORE: In the year 2025, having a side hustle isn't just trendy—it's practically survival. With inflation chewing away at salaries, student loans lurking like debt-shaped shadows, and basic necessities costing more than they used to, it's no surprise that an article on Forbes reports that a whopping 71% of US workers are also seeking extra income streams. And what about for our fellow Singaporeans? Perhaps, we can also take some pointers from them to survive our brutal economy. No group is embracing this hustle culture harder than Gen Z. Around 40% of them have already picked up side gigs, not necessarily because they love it, but because they need it. And here's where it gets inspiring: many of these young workers are turning what began as side hustles into full-blown six-figure careers. Let's dive into how they're doing it—and how we in Singapore can also replicate that. The rise of the solopreneur: AI, branding, and bootstrapped brilliance Andy Kurtzig, CEO of , sees something bigger than just economic survival. He calls it a 'generational pivot in real time.' These modern-day 'solopreneurs,' as he dubs them, aren't just delivering food or freelancing on weekends. They're taking the very tech that's displacing traditional jobs and flipping it into tools for independence and innovation. 'They're using AI to re-imagine career paths, build brands and monetize skills that traditional workplaces often overlook,' Forbes quotes Kurtzig as saying. 'What used to take funding, mentorship, and institutional access, they're now doing with a laptop and a chatbot.' Singaporeans, especially those who are tech-savvy and entrepreneurially inclined, can take a cue here. You don't need venture capital, a trust fund, or an MBA. You just need a Wi-Fi connection and the drive to create. Just like what Kevin Quah, a Singaporean young millionaire, did, when he peeled back the hood on what it actually takes to build a million-dollar business — and spoiler alert: it wasn't a trust fund, or market timing wizardry. Photo: YT screengrab/@AsianBoss 'I'm not a stock market expert,' he said, adding that what financially worked for him most was building something useful and meaningful, such as connecting AI with real-world, everyday needs, including empowering senior citizens, people with disabilities, and underprivileged communities. See also DeepSeek: A Chinese cat among the US pigeons in the AI world If you'd like to explore deeper how Kevin made his first million, you can read it over here: 'You don't need to be a stock market expert to get rich' — Young Singaporean millionaire reveals how solving problems of others with AI led to his first million Investing: The underrated side hustle with million-dollar potential Gen Z power duo Eve Halimi and Anam Lakhani, who co-founded their Alinea Invest company and even made it to Forbes' 30 Under 30, said, you don't need a second job—you just need smarter money moves. They believe investing is the secret side hustle nobody's talking enough about. For example, they explain how their platform is resonating with Gen Zs, which is something Singaporeans can also take some tips from: Low-effort: Set up automated investing in under five minutes. Then let AI do the heavy lifting. Set up automated investing in under five minutes. Then let AI do the heavy lifting. Low-barrier: Start with just $1 and get personalised help for just $10/month. Start with just $1 and get personalised help for just $10/month. Values-driven: You can invest based on causes you care about, from climate action to diversity. 'Gen Z side hustle culture has been about reclaiming financial agency,' Halimi and Lakhani told Forbes contributor Dr. Bryan Robinson in an email. But now, they say, it's time to evolve—turning hustle into long-term wealth. 'It's about smarter money, not more hours worked.' And here's their five-step cheat code we Singaporeanised a little to build a six-figure future—even if you're starting with spare change while surviving Singapore. 5 genius ways Gen Zs can turn loose change into long-term wealth 1. Start with what you've got—even if it's just $5 'You don't need to be rich to start building wealth, you just need to start,' the co-founders insist. Thanks to fractional investing, you can now own slices of global companies, such as Nvidia, Tesla, Google, or Apple, for less than the price of your morning kopi or evening teh tarik. The earlier you begin, the more your money can snowball through the power of compound growth. Even investing $5 per week could mean retiring with a cool million in the future. 2. Personalise with tech instead of guessing with gut Gone are the days of blindly picking stocks based on hearsay. Halimi and Lakhani explain that modern investing apps use AI to build portfolios tailored to your age, income, and risk appetite. See also Som Hyein splits up with girlfriend There are many local investing apps you can explore to do the same. For example, if you want to support women-led businesses or eco-conscious companies, your portfolio can reflect your values and your goals. 3. Automate your hustle—Let your money work while you sleep 'Side gigs require time, but investing doesn't have to,' they say. Using a strategy called Dollar Cost Averaging , commonly known as DCA , you can set up recurring deposits—say, $160/month—and let the app manage everything. Based on the past performance of the S&P 500, doing this consistently for 40 years could yield over $1 million! That's the kind of passive income we can get behind. 4. Match your money with your morals Gen Z isn't just about profits—they care about purpose. 'Whether it's climate action, racial justice, or women-led innovation, your investments should fit your priorities,' the duo advises. For example, if you're someone who's worried your investments may lead to climate change or even animal cruelty, then the Vegan Climate ETF (Ticker: VEGN) offers an opportunity for investors to invest in the stock market through a low-cost index fund or exchange-traded fund like the S&P 500, but minus the companies that exploit the environment and animals. You're far more likely to stay committed when your money is backing causes that matter to you. 5. Don't go solo—Invest socially Investing doesn't have to be a lonely, spreadsheet-filled struggle. 'Learning and growing together is a game-changer,' Halimi and Lakhani emphasise. Platforms like Alinea , for example, now offer investment communities, workshops, and shareable portfolios. Celebrate wins together. Learn from each other's mistakes. And keep the motivation flowing. You can also explore local platforms that offer similar options, catering to your specific needs. Bonus wisdom: 10 tips to avoid tanking your hustle, according to a head analyst Adam Nasli, head analyst at BrokerChooser , offers ten golden rules which we have localised to keep your investments on the success track: Do your research: Use trusted sources and comparison tools to pick your platform wisely. Set clear goals: Know why you're investing—early retirement? Buying a house? Getting that car without a loan? See also Robert Pattinson is not working out during quarantine Watch out for fees: Choose low-cost brokers and funds. Small fees can eat up big profits. Diversify: Don't put all your roti canai or nasi lemak in one basket. Spread your investments across industries. Don't time the market: 'Time in the market beats timing the market every time,' says Nasli. Don't overtrade: Stick to your plan. Tinkering too often is like overwatering a plant—it can backfire. Understand what you're investing in: Avoid cryptic, high-risk products unless you really know what you're doing. Mind the taxes: Uncle IRAS is always watching. Know how your returns are taxed. Keep emotions in check: Don't panic-sell or FOMO-buy. Stay disciplined. Pick the right broker: The right platform makes investing easier, especially if you're just getting started. From hustle to legacy So, can a side hustle really become a six-figure income? Absolutely! If you play it smart, that is. Gen Z is redefining hustle culture by fusing tech, values, and financial literacy into a blueprint for wealth. It's no longer about grinding 18 hours a day. It's about using the right tools, making values-aligned decisions, and letting compound growth do the heavy lifting. As Halimi and Lakhani put it: 'Financial freedom doesn't require a side gig, just access and a little support.' And maybe a good app. And while you're at it, you can also take a cue from Jaedyn Choo, a Gen Z individual who flipped the script—instead of working to travel, she started travelling while working. While most 19-year-olds spend their holidays bingeing on Netflix or catching up on sleep, Jaedyn was backpacking across six countries and 18 cities, and how the heck did she do that? Nope, it wasn't with her parents' money, and not with some fancy scholarship. It was just elbow grease, side hustles, and a lot of time, often spent in 10-hour shifts. In her own words, 'I worked 10 jobs to see the world, and now I travel for free!' — 19 y/o Singaporean student shares how Gen Zs like her can solo travel too This article is for educational purposes only. It should not be considered Financial or Legal Advice. Investors should conduct their own due diligence before making major financial decisions
Independent Singapore
an hour ago
- Independent Singapore
'I'm on no-pay leave': Singaporean worker torn over quitting or staying after being sidelined without notice
SINGAPORE: It began with an earnest Reddit post — a corporate worker in the world of P.R. sharing a truthful depiction of her current, undefined reality. She was once excited to have a job in a creative ad agency, where her work felt more like passion, and a positive obsession, than a salary. But like so many workers in today's choppy economy, her dream job landed on a rocky road. 'Quiet layoffs' had already swept through the office, and while her name didn't appear on the formal list of axed employees, she could feel the squeeze. Routine duties from several laid-off officemates gradually landed on her plate. Then came the ultimate spiral: she was ordered to go on an indeterminate 'no-pay leave.' No compensation package, not even a tiny clarification. And definitely, there were no 'next steps.' Just a gracious push to the exit. Then she asks: 'Do I push for a formal retrenchment? Accept the leave and job hunt on the side? Quit and make a clean break? Or should I propose freelance work to stay in the industry loop?' See also Experian leads US$10M funding in Malaysian fintech firm Jirnexu The internet, often a muddled combination of memes and clatter, showed up in an unexpectedly human way. Commentaries swamped, from related professionals, job searchers, and armchair theorists, each providing advice and offering empathy. 'Treat the job hunt like a job' One Redditor advised that she make a rock-hard strategy: 'If you've got savings, take a week to clear your head—maybe even travel. Then come back with a focused plan and timeline for your job search. Without structure, you'll spiral. If money's tight, a part-time gig can bridge the gap.' 'Any job is a learning job' Another weighed in, reminding her not to turn her nose up at temporary work: 'Do part-time. Any kind. You'll learn, stay occupied, and who knows? Opportunities often hide in the unlikeliest places.' 'The grass isn't always greener' A long-term jobless user delivered a stirring reality: 'When I was working, I wanted a break. Now I have one… and I miss working. The grass always looks greener. But sometimes, you've just got to find comfort in the pasture you're lying on.' 'You are not just your job title' Others prompted her to look beyond professional labels: 'Your value isn't tied to employment. If you weren't let go for performance reasons, bet on yourself. If you need to breathe, do it. Side gigs like food delivery can bring income and fitness. Reconnect with life. Cook a meal for your family.' 'Get practical, stay positive' An ex-hiring manager chimed in with a shrewd piece of advice: 'Seek government help, upskill through conversion courses. Structure your day. Two hours of job search, then learn something new, exercise, or unwind. Employers look for positivity and a growth mindset. Let that shine in interviews.' Her post hit a nerve because it's a narrative many can identify themselves with — one foot in a vocation you hold dear, while the other foot is stepping into the unknown. As dismissals swell inaudibly across businesses, more professionals are finding themselves in the same boat —doing everything right, yet incessantly suspended by economics. Whether she turns to freelance work, endures belt-tightening, or gets into something totally new, her story is an appropriate reminder that occupations aren't one-track. Sometimes, the best insights stem from unfamiliar people on the internet, typing into space, eager to assist someone to land on their feet. If your job vanishes tomorrow, would you have a strategy—or a passion—to turn to?
CNA
2 hours ago
- CNA
Vietnam Q2 GDP growth quickens on strong exports, US trade deal brightens outlook
HANOI: Vietnam's economy grew at a faster pace in the second quarter of this year led by strong exports, in an encouraging sign just days after US President Donald Trump said he would place lower-than-threatened 20 per cent tariffs on many Vietnamese products. Concerns over the Southeast Asian manufacturing hub's outlook had been growing in the run up to the trade deal announced on Wednesday (Jul 2), particularly as the United States is Vietnam's biggest export market. Gross domestic product growth in the April to June quarter accelerated to 7.96 per cent year-on-year, from the 6.93 per cent in the first quarter, government data showed on Saturday. It was just short of Hanoi's full-year growth target of at least 8 per cent. "Economic performance in the first half of this year was positive and close to our target amid global and regional economic uncertainties," the National Statistics Office (NSO) said. Exports were a bright spot in the last quarter, rising 18.0 per cent to US$116.93 billion from a year earlier, while imports were up 18.8 per cent at US$112.52 billion, translating into a trade surplus of US$4.41 billion, the NSO data showed. Industrial production in the period rose 10.3 per cent, while June consumer prices rose 3.57 per cent. Trump announced on Wednesday the United States and Vietnam reached a trade deal, under which Vietnamese goods would face a 20 per cent tariff, with trans-shipments from third countries through Vietnam also facing a 40 per cent levy. Vietnam could import US products with a zero percent tariff. The tariff rates were lower than an initial 46 per cent rate threatened by Trump in April. Vietnam hailed the deal as a boost for business and said negotiators were working to finalise details, as business groups awaited clarity on the finer points to assess the impact of the new tariffs. The United States is the largest export market for Vietnam, a regional manufacturing hub housing several multinational companies such as Samsung Electronics and Foxconn. The United States recorded a trade deficit of US$123 billion with Vietnam last year, one of its highest globally. Vietnam is also home to several Chinese companies, which analysts said are likely the main targets for the 40 per cent tariff on trans-shipments. China is Vietnam's largest two-way trading partner on which it relies heavily for components and materials for its manufacturing industries. Fitch Solutions said in a note on Friday that Vietnam's exports and investment will remain strong for the rest of the year and signalled upside risks for its 2025 GDP growth forecast of 6.4 per cent. "With the new 20 per cent tariff, we think the government will speed up industrial upgrading and shift exports from low-margin goods to higher value-added products such as semiconductors," it said in a note. Dominic Scriven, founder and chairman of investment firm Dragon Capital, said the trade deal is "net-positive" and the potential GDP hit is less severe than feared. "With external trade risk now moderating, attention can return to the country's core growth engine, the domestic and private sector economy," he said.
