The Hidden Benefits of Being a Rideshare Driver

Working as a rideshare driver is becoming increasingly popular, and for good reason! There are many hidden benefits of being a rideshare driver. Scroll down and keep reading to find out more!

Make New Connections

Driving helps you make new connections with people every day. If you are a person who likes meeting new people and hearing a diverse set of stories, being a rideshare driver would be a great choice for you! Not every ride ends in making new friends, but as you meet new people, you’ll make more connections. These connections will help expand your social and professional network, as well as make your job more enjoyable. For many rideshare drivers, these connections are among the most rewarding parts of their job.

Extra Ways to Save for Retirement

As a rideshare driver, you are legally your own business, and you can start your own 401k plan. Unlike most employers, rideshare companies will not match your 401k contributions. Because of this, you need to open a solo 401k account. In order to open a solo 401(k), you need to register for an employer identification number (EIN). This can be done through an SS-4 form from the IRS.  This EIN will allow you to conduct business as an independent contractor.  Make sure you deduct business expenses properly in order to avoid any issues with the IRS.

Flexible Schedule

Rideshare drivers can pick their own schedules, and for many people, the flexible schedule is one of the most appealing perks of the job. As a rideshare driver, you can choose whether you work nights, days, weekends, or all of the above! You can take time off when you need it, and you never have to report to a boss. This flexibility makes rideshare driving not only a good primary job, but also a very viable second job for those looking to earn extra cash. Few other jobs have the same flexibility as driving for a rideshare company. After all, how many jobs can you think of that let you take an entire month off from work without asking permission?

Don’t forget to take these three benefits into account if you have been considering whether or not to become a rideshare driver. The possibility for more diverse human connection, opportunity to save for retirement, and availability of a flexible schedule are three of the best hidden benefits of being a rideshare driver.

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