Millennial Money: 4 strategies for using side hustles to fund retirement savings

By ELIZABETH AYOOLA of NerdWallet

Some people may want to fast-track their savings because they have early retirement goals or want to catch up after a period of not saving as much as desired. No matter what your motivation is, it’s possible to increase your retirement savings by getting a side hustle. However, it’s important to have a plan in place for that side hustle income so the money goes toward your retirement goals and not other expenses. Steps for getting started include devising a retirement plan, an investing strategy and a solid budget. To keep as much of your side hustle income as possible, preparing for taxes is also essential.