I lost $180,000 in Wall Street retirement savings. Now, I drive Uber and Lyft 75 hours a week.
Bill Lewis, a former Wall Street broker, now drives for Uber and Lyft after losing his retirement savings in a failed franchise venture.
Bill Lewis spent over two decades on Wall Street before being laid off in 2013. After losing his job, he attempted to start a Nestlé Toll House franchise using his 401(k) savings. The franchise failed after four years, leaving him without a stable income. Now, Lewis works as an Uber and Lyft driver, driving about 75 hours per week, earning approximately $75,000 annually.
He regrets tapping into his retirement savings, which led to his current situation. Lewis criticizes Uber's treatment of drivers, citing the lack of time to evaluate ride offers and the resulting financial uncertainty. To improve his income, Lewis has become more selective about which Uber rides he accepts and has increased his usage of Lyft, which provides estimated hourly rates for each ride.
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