What do you guys do on the side?
- PhysicianOnFIRE
- Posts: 470
- Joined: Fri Jan 08, 2016 2:46 pm
- Location: Up North
Re: The Side Hustle
I prefer the term "side gig." Sounds a little less back-alley.
I started a website -- got the idea from reading Mr. Money Mustache and The White Coat Investor. I liked what both were saying, but they were miles apart in message, and I thought I could bridge that gap.
With my profits, half goes to charity via our donor advised fund. The other half makes me wonder why I haven't FIRE'd already.
-PoF
I started a website -- got the idea from reading Mr. Money Mustache and The White Coat Investor. I liked what both were saying, but they were miles apart in message, and I thought I could bridge that gap.
With my profits, half goes to charity via our donor advised fund. The other half makes me wonder why I haven't FIRE'd already.
-PoF
- zaboomafoozarg
- Posts: 2431
- Joined: Sun Jun 12, 2011 12:34 pm
Re: The Side Hustle
I've worked on a side hustle for the past few years with limited success. A few hours per week gets me a little less than $10k per year.
Pretty paltry compared to most side hustles here, but it makes me feel less bad about spending money on vacations.
Pretty paltry compared to most side hustles here, but it makes me feel less bad about spending money on vacations.
Re: The Side Hustle
I work in online education on the graduate level in my field. Amounts to about an extra $1000 per month in a good year. Online education is great because you can contribute to it at any time when you are free, could be late at night, early mornings. And helping to shape the minds of the next generation makes you feel strangely powerful... : )
A distant second side hustle: I find objects at recycling centers and yard sales to sell on Ebay. It has not accounted for much, but did profit $1000 last year and about $750 the year before that. So far this year, nothing major has come up. This is more of a hobby because it is enjoyable to do. If you want to get into it, first avoid my turf, and secondly focus on areas you know and value-dense objects. For me that is optics, electronics, tools and mechanical, books, collectibles, and antiques.
A distant second side hustle: I find objects at recycling centers and yard sales to sell on Ebay. It has not accounted for much, but did profit $1000 last year and about $750 the year before that. So far this year, nothing major has come up. This is more of a hobby because it is enjoyable to do. If you want to get into it, first avoid my turf, and secondly focus on areas you know and value-dense objects. For me that is optics, electronics, tools and mechanical, books, collectibles, and antiques.
70% Global Stocks / 30% Bonds
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Re: The Side Hustle
I used to be an online poker professional. I still play a bit on the sites that are left and when I go to vegas. Its more of a hobby at this point but I occasionally do get to cash out a few thousand (no new money goes into it)
Re: The Side Hustle
The problem is, unless you have a specific marketable skill most of these side hustle concepts seem to pay barely minimum wage. Unless Im making close to the effective hourly rate of my salaried job and I just have time to burn I wont bother. Since the answer is no on both counts....Alexa9 wrote: ↑Tue May 29, 2018 9:03 pmI used to not like the term "Side Hustle" and just thought it meant dealing drugs but I am okay with it now as more of a hobby that earns money.Wildebeest wrote: ↑Tue May 29, 2018 8:56 pm
I feel so old when I read about hustle or side hustle. I know it must mean something else that what I think it means, but what I hear is so wrong.
I interpret is as a fraud or swindle and I can not see how you can make money unless you take advantage of somebody else.
I am happy not to ever had a side hustle.
One popular one I've heard of recently was buying a pallet of returned electronics and reselling them on eBay.
One that I've thought would be useful is baby boomer tech support.
Teaching a class in basic personal finance might be fun at a local library or community college.
The profit has to be enough and amount of time has to be low enough so as not to interfere with your "main hustle" or free time.
I'm impressed that so many of you have the time... By the time I get home form work and spend time with the kids its late at night and I'm exhausted. And my weekends are too precious to give up for more... work...
IM(not)HO the "side hustle" concept is a viral marketing scheme by big corporations to de-sensitize people to the "gig economy" and the transition away from job security and traditional benefits paying roles. A wonderfully effective marketing scheme...
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- Joined: Tue Jun 21, 2011 10:35 am
- Location: Deep in the Balkans
Re: The Side Hustle
I barter food grown in my garden in return for homemade cakes and wine.
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- Joined: Tue Dec 31, 2013 6:05 am
- Location: 26 miles, 385 yards west of Copley Square
Re: The Side Hustle
I gather junk electronic stuff and separate out the materials....aluminum, copper, steel, circuit boards, wire, gold plated stuff. Once I have enough, I bring them to a local scrapyard who pays money for everything. The more things are separated, the more I make. It's not a lot of money, but it's therapy to mindlessly separate out stuff. It's also interesting to see how various things are built. I just pulled apart an apple iphone radio/charger. I would have expected state of the art technology and techniques but the thing was built like someone went back to the early 80's with wires and connectors all over the place for (in my opinion) no reason.
Bogle: Smart Beta is stupid
Re: The Side Hustle
"Side hustle"....sort of a Mr.MoneyMustache thing for not REALLY working but needing money. I'm amused by the differences and similarities between MMM and Bogleheads, which I view as a millenial vs babyboomer version of roughly the same thing.
- sunny_socal
- Posts: 2732
- Joined: Tue Mar 24, 2015 4:22 pm
Re: The Side Hustle
I could quite easily do a 2nd job: engineering consultant. However I'd have a conflict of interest with my current employer. Furthermore all my ideas 'belong' to the current employer per the contract I signed when I joined. I'm not supposed to be working for someone else.
I spend some of my weekend time fixing my house or maintaining cars. I figure this is $80-100/hour in money saved. That's my hustle.
I spend some of my weekend time fixing my house or maintaining cars. I figure this is $80-100/hour in money saved. That's my hustle.
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- Joined: Thu Feb 08, 2018 12:20 pm
Re: The Side Hustle
I spend time with my kids and wife. They're only young for so long. I DIY a lot of my home improvements, landscaping, and gardening myself, saving me $$.
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- Joined: Thu Dec 17, 2015 12:43 pm
Re: The Side Hustle
In my husband’s case it was right place right time. He did some theater in college and then worked in marketing for a small company that sold stuff on tv in the late 90s and wanted cheap labor Small company became a biggish company and my husband got more work as a result of exposure . But commercial VO work isn’t as plentiful as it once was. Thank you Netflix. But it is a lucrative gig if you can get it. My husband charges $800 for about an hour of work.
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- Joined: Tue Dec 04, 2012 10:05 pm
Re: The Side Hustle
I got $13 from YouTube once.
I'm a Uber certified driver but have never driven anyone. I ride Uber quite a bit.
I write an ad-free travel blog, hence no income.
I run a 25-member family savings and loans ops but It's a volunteer position, hence no income.
I figure if I wanted a side gig, I could generate some cash.
TravelforFun
I'm a Uber certified driver but have never driven anyone. I ride Uber quite a bit.
I write an ad-free travel blog, hence no income.
I run a 25-member family savings and loans ops but It's a volunteer position, hence no income.
I figure if I wanted a side gig, I could generate some cash.
TravelforFun
- Will do good
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- Joined: Fri Feb 24, 2012 7:23 pm
Re: The Side Hustle
I always had freelance on the side while I was working, the freelance work bring in 15-30% of my income.
After 20+ years of megacorp work I was layoff like lots of people later in our careers. Instead of taking time to search for a new job or finding a business to start up I just turn my freelance business into full time work. Since I already had clients, contacts and the know how to run my own business.
The best part? my freelance/new business work turn out to earn many, many time of my old income, today I retired early.
After 20+ years of megacorp work I was layoff like lots of people later in our careers. Instead of taking time to search for a new job or finding a business to start up I just turn my freelance business into full time work. Since I already had clients, contacts and the know how to run my own business.
The best part? my freelance/new business work turn out to earn many, many time of my old income, today I retired early.
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Re: The Side Hustle
+1. The time is there, the energy is not...and I just turned 37. Even though I work in a great environment where only 40hrs/wk is the norm, add in taking care of 2 kids (a lot, my wife works full-time and is a full-time student), the inevitable work travel (managed to keep this to a minimum, but it is progressively becoming more and more often), and that I still train like a high-level athlete (essentially part of my career) and I simply don't have the physical energy. We've, wife and I, been offered several pretty highly compensating opportunities over the past year in regards to expanding our own blog and writing for other publications, but have turned them all down. Would love to make more money, bump up the FIRE date a bit, but it would have to be a lot of money to get me to consider a "side hustle" right now. As someone who worked full-time and went to school full-time simultaneously for most of the last two decades, that almost makes me sound lazy.
Re: The Side Hustle
Thank you all for the replies. It's interesting to see what others are doing out there. I guess my Instagram side hustle pays for my real side hustle - Vanguard Total Stock Market (taxable account). And, a good beer here and there.
Re: The Side Hustle
I write "how to" books and self publish them. They sell on the major online book stores' websites.
After the initial work is over, the income is passive.
After the initial work is over, the income is passive.
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- Posts: 620
- Joined: Sun Nov 12, 2017 12:59 am
Re: The Side Hustle
Ditto here. I was able to freelance only after giving up my job. Now that I want to take a regular job I dont see extra time for a side hustle. Is raising kids main job or side hustle - dont most people already have it?jharkin wrote: ↑Wed May 30, 2018 7:20 amThe problem is, unless you have a specific marketable skill most of these side hustle concepts seem to pay barely minimum wage. Unless Im making close to the effective hourly rate of my salaried job and I just have time to burn I wont bother. Since the answer is no on both counts....Alexa9 wrote: ↑Tue May 29, 2018 9:03 pmI used to not like the term "Side Hustle" and just thought it meant dealing drugs but I am okay with it now as more of a hobby that earns money.Wildebeest wrote: ↑Tue May 29, 2018 8:56 pm
I feel so old when I read about hustle or side hustle. I know it must mean something else that what I think it means, but what I hear is so wrong.
I interpret is as a fraud or swindle and I can not see how you can make money unless you take advantage of somebody else.
I am happy not to ever had a side hustle.
One popular one I've heard of recently was buying a pallet of returned electronics and reselling them on eBay.
One that I've thought would be useful is baby boomer tech support.
Teaching a class in basic personal finance might be fun at a local library or community college.
The profit has to be enough and amount of time has to be low enough so as not to interfere with your "main hustle" or free time.
I'm impressed that so many of you have the time... By the time I get home form work and spend time with the kids its late at night and I'm exhausted. And my weekends are too precious to give up for more... work...
IM(not)HO the "side hustle" concept is a viral marketing scheme by big corporations to de-sensitize people to the "gig economy" and the transition away from job security and traditional benefits paying roles. A wonderfully effective marketing scheme...
Re: The Side Hustle
The days of manufactured spending are pretty much over. I dont know of any "easy" MF methods anymore. Im a frequent churner of credit cards...but since MF has died and chase implemented the 5/24 rule...the good ol days are over. I still fly for free and make $1k-$2k in gift cards a year...but its still not what it used to be.THY4373 wrote: ↑Tue May 29, 2018 11:16 amThe general gist is well known. The colloquial term is manufactured spending. Basically you find loops whereby you can put spend on a card to generate points and then pay off the credit card with the same spend. There are ways of stacking things both when generating spend and then using the points to lower your costs and/or juice your returns (understanding the ins and outs of point systems is critical). Some of the techniques I use are well known and others are not. I am also lucky to live in a target rich environment though a lot of what I do is all online. I generate multiple seven figures of points each year. The secret is scale of the well known stuff and leveraging less well known stuff. Bogleheads discussion of CC reward arbitrage is basically first grade level though I can tell some here are doing it on a grander scale based on the odd hints they drop. Unfortunately as with all arbitrage opportunities the more they are exploited the more they go away so most discussions of any real note have moved out of public forums.
I will also say that if doing this for travel rewards (vs cashback which is harder these days) that one must really have a passion for it both to get the value out of the points and to enjoy learning all the details of multiple frequent traveler programs.
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- Joined: Fri Mar 30, 2018 10:29 am
Re: The Side Hustle
I have a bounce house business that I run on nights and weekends. My wife and I were looking for additional income 5 years ago and started researching business ideas. We have two young sons and didn't want a business that would take us away from them. This business allows us to bring the kids along. Its back-breaking work, but it helped us get a better financial foothold.
I also have hobbies that pay for themselves, and sometimes pay me a little. I raise honeybees, and years that I have a bumper crop, I pocket a couple thousand above cost (not counting my time). I would do it whether I made money or not, but the extra cash helps with vacations and such.
I also have hobbies that pay for themselves, and sometimes pay me a little. I raise honeybees, and years that I have a bumper crop, I pocket a couple thousand above cost (not counting my time). I would do it whether I made money or not, but the extra cash helps with vacations and such.
Re: The Side Hustle
MS is not dead for me. Largely depends on where you live (I live in a target rich environment), how creative you are, risk tolerance, etc. I would say the bigger hit over the years has been on the earn side (multiple uncapped 5% CB cards, easy churning, etc.). But MS is probably much tougher if you live in a large metro area with lots of other folks hitting MS hard. Another reason I am very happy living in my second tier city for the moment. I honestly thought it would be dead for me by now. I am not impacted much by Chase's 5/24 as I am usually under it (I'll generally only get a card if I intend to keep it).ponyboy wrote: ↑Thu May 31, 2018 6:37 am
The days of manufactured spending are pretty much over. I dont know of any "easy" MF methods anymore. Im a frequent churner of credit cards...but since MF has died and chase implemented the 5/24 rule...the good ol days are over. I still fly for free and make $1k-$2k in gift cards a year...but its still not what it used to be.
Re: The Side Hustle
I've always had other jobs to help support my family, as only one salary from my teaching job would make that difficult, especially in the early years.
For the last 25 years, my second job has been organist and director of choirs for my church, but much of that salary goes right back as a tithe. I also use my penchant for finances and receive a very small stipend as Treasurer of our Education Association (Union). I also do some freelance music work.
All together, it brings in enough to fully fund our Roth IRAs, contribute to our two 529 plans and take a few modest vacations each year.
For the last 25 years, my second job has been organist and director of choirs for my church, but much of that salary goes right back as a tithe. I also use my penchant for finances and receive a very small stipend as Treasurer of our Education Association (Union). I also do some freelance music work.
All together, it brings in enough to fully fund our Roth IRAs, contribute to our two 529 plans and take a few modest vacations each year.
I don't know what the future holds, but I know who holds my future.
Re: The Side Hustle
My wife and I dog sit for Rover. We already have a dog and a yard, so adding another dog or 2 doesn't change what we do. Before we get a new dog we require a "Meet & Greet" which normally eats up about 30-60 mins, beyond that it is pretty easy and our dog has friends to play with. We should get about $10k this year from it.
Re: The Side Hustle
Can you elaborate on your "targets" for manufactured spending?THY4373 wrote: ↑Thu May 31, 2018 7:29 amMS is not dead for me. Largely depends on where you live (I live in a target rich environment), how creative you are, risk tolerance, etc. I would say the bigger hit over the years has been on the earn side (multiple uncapped 5% CB cards, easy churning, etc.). But MS is probably much tougher if you live in a large metro area with lots of other folks hitting MS hard. Another reason I am very happy living in my second tier city for the moment. I honestly thought it would be dead for me by now. I am not impacted much by Chase's 5/24 as I am usually under it (I'll generally only get a card if I intend to keep it).ponyboy wrote: ↑Thu May 31, 2018 6:37 am
The days of manufactured spending are pretty much over. I dont know of any "easy" MF methods anymore. Im a frequent churner of credit cards...but since MF has died and chase implemented the 5/24 rule...the good ol days are over. I still fly for free and make $1k-$2k in gift cards a year...but its still not what it used to be.
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Re: The Side Hustle
I am an Elementary Art Teacher,
Side hustle is I carve wooden spoons, hew dough bowls with an adze, and turn bowls on a spring pole lathe.
I do craft shows in the fall and it keeps me really busy all summer long.
I also teach spoon carving.
I have 12-15 years left in teaching before I retire I would like to open a "folk school" to focus more on the teaching aspect of the craft I do.
Right now it pays for travel to conferences, and tools.
Just got a sawmill to help manage our woodlot all from the spoon carving sales.
I also got a PA Folk Art Grant to travel and learn last year.
I find the side hustle helps me being an Artist Teacher instead of just being a teacher of art.
Side hustle is I carve wooden spoons, hew dough bowls with an adze, and turn bowls on a spring pole lathe.
I do craft shows in the fall and it keeps me really busy all summer long.
I also teach spoon carving.
I have 12-15 years left in teaching before I retire I would like to open a "folk school" to focus more on the teaching aspect of the craft I do.
Right now it pays for travel to conferences, and tools.
Just got a sawmill to help manage our woodlot all from the spoon carving sales.
I also got a PA Folk Art Grant to travel and learn last year.
I find the side hustle helps me being an Artist Teacher instead of just being a teacher of art.
Re: The Side Hustle
The vast majority of what I do is well documented on Flyertalk, Reddit Churning and other public forums. But I work to expand on what is published. Don't just rely on Walmart find other places, hit the streets, develop other locations, experiment think outside the box a bit as there are variations on existing methods that make them more scalable, network with like minded individuals and so on. Yes this is probably not the easy load a BlueBird/Serve with Vanilla Reloads, or spend a quality hour with a Kate at a Walmart printing off MOs (those were surely the days) but stuff is still out there.
Re: The Side Hustle
I haven't pursued it yet, but from googling I see there are a good number of sites where one can list his/her voice-over services for sale. Some charge, some are free. I figure I'll just make a demo reel, start with a cheap rate, and see where it goes. I already have a good selection of audio gear from my music recording days, so there's literally no extra $ invested on my part to try it out.
Re: The Side Hustle
I'm constantly starting and stopping side hustles before they make any money, so I guess those well intentioned hustles end up being hobbies. My only one that makes any money is a rental unit in a duplex I renovated.
I own a dozen or so .com addresses that are available for sale. I just need the petri dish meat market to explode.
My other current side hussle is an android app, so I'm taking MOOC courses to learn how to program better. Worst case I learn a bunch skills I can use in my day job as an engineer.
I own a dozen or so .com addresses that are available for sale. I just need the petri dish meat market to explode.
My other current side hussle is an android app, so I'm taking MOOC courses to learn how to program better. Worst case I learn a bunch skills I can use in my day job as an engineer.
Never look back unless you are planning to go that way
Re: The Side Hustle
I'm a research engineer. When I was younger (late 20s), I used to teach graduate applied math classes at night at a university. I did it for fun (I like teaching), but it actually paid pretty well. I stopped doing that after I got married. Recently, I wrote and published a programming book. I did that for fun and to (hopefully) help someone learn something. Don't write a programming book with the expectation of making money. I don't think the lifetime earnings from the book will ever reach one day's pay for the my W-2 job .
Edit: In retrospect, maybe these were actually hobbies that incidentally paid me.
Edit: In retrospect, maybe these were actually hobbies that incidentally paid me.
Re: The Side Hustle
I was very lucky. MegaCorp was on board of local university and was asked if they knew anyone who could teach a specialty topic. Boss tapped me on the shoulder and asked if I was interested. Going in to my 5th year of teaching on the side in the fall.
Re: The Side Hustle
I started teaching at the local university extension 10 years ago. It provides 15% of my salary and look forward to doing it in retirement. I got started when a colleague recommended I apply with a MBA and a certification in the course. It’s 5 months out of the year- 2 days a week, one weekday night and one weekend morning. I always think there is nothing better I could be doing during this time and I enjoy it. The money has allowed my family to take some nice vacations and save more.
- ClevrChico
- Posts: 3259
- Joined: Tue Apr 03, 2012 8:24 pm
Re: The Side Hustle
I help an older neighbor with handyman/grounds work. He's a super cool gentleman, and I'd do it for free. He sends a lot of restaurant gift cards my way, cases of beer, treats, etc. So that's my side hustle.
Otherwise, megacorp and dad life take all my time.
Otherwise, megacorp and dad life take all my time.
Re: The Side Hustle
I invest in individual stocks with my fun money. Been doing it 18 yrs and done pretty well.
Boggleheads can calm down though, low cost index funds in retirement accounts.
I’d like to get my first rental property in next few years, as another gig.
Boggleheads can calm down though, low cost index funds in retirement accounts.
I’d like to get my first rental property in next few years, as another gig.
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Re: The Side Hustle
When I hear the term side hustle, I immediately think of a former employee of mine. A decent enough software engineer who always had a ton of other stuff going on on the side. Buying electronics at Black Friday sales and reselling them on eBay (using other fake accounts to pump up the price), etc. Lots of other fairly time consuming and essentially low-return non-scalable gigs. He was pretty open about it. I suggested he invest this time into his career, but I guess that was too boring. Well, when it came time for stock options and bonuses, guess which employees got the highest allocations? Those who went above and beyond...PhysicianOnFIRE wrote: ↑Tue May 29, 2018 9:44 pm I prefer the term "side gig." Sounds a little less back-alley.
Obviously not everyone is in the situation of choosing between side gigs and super-charging their primary career. And diversification can have its benefits, too.
Re: The Side Hustle
Recently started AirBnB hosting. Have pretty automated and a reliable cleaner but it's not zero effort (although I'm 2000 miles away at the moment and had two sets of guests come through with zero hassles). So far I'm pretty happy with it. Even in my initial low-low pricing to get early favorable reviews to boost bookings later it's covering well over half my housing costs. I had MIL area that was very under-used but it means I've given up little space and even less privacy (it has separate entrance).
Re: The Side Hustle
I used to have one, but as my income grew and my weekends became more important for rest and relaxation I phased it out. I am a licensed cosmotologist and cut hair on Sundays at a salon a mile from my house for years.
My main job is a computer specialist at a large Wall street Law firm. Maybe down the road, I'll find a small Barber Shop to practice my first love, but who knows. I always enjoyed being a barber and hairstylist but left because of the unsteady nature of the income and zero benefits.
I also would love to be brave enough to follow my passion and work with special needs children, just helping them do things, but I have a feeling that will be on a volunteer basis when I retire.
My main job is a computer specialist at a large Wall street Law firm. Maybe down the road, I'll find a small Barber Shop to practice my first love, but who knows. I always enjoyed being a barber and hairstylist but left because of the unsteady nature of the income and zero benefits.
I also would love to be brave enough to follow my passion and work with special needs children, just helping them do things, but I have a feeling that will be on a volunteer basis when I retire.
Choose Simplicity ~ Stay the Course!! ~ Press on Regardless!!!
Re: The Side Hustle
1) I dabble in woodworking and have sold farm tables, cedar planter boxes, and other garden items. It isn't very much added income, but it pays for new tools and "wants" I have that I otherwise couldn't justify. When I tell my wife I want a bandsaw, and it's paid for by the table I made, she's on board 100%.
2) I work in law enforcement and work a lot of events for overtime. Most of it is walking around talking to people.
2) I work in law enforcement and work a lot of events for overtime. Most of it is walking around talking to people.
Re: The Side Hustle
I am an Elementary School Physical Education teacher, so with having summers off I've done several things. A few years ago during the process of building our home I was trying to cash flow as much as possible, so I started my first business: Custom Fitness Plans. I was writing workout and nutrition programs for clients in the evenings after work. Of course, that was a year-round thing so I didn't have the luxury of having the bulk of my efforts happen when I was off from school. Ultimately, it was taking a ton of time creating these programs, meeting with clients and marketing to find new ones that I gradually went into only taking referrals that were really serious. Initially, I did around 100 programs in the first year or so. Currently, I just do a handful each year.
One of the things that allowed me to stop pushing the gas on fitness programs is that I started college as a music major (trumpet) and am one of the top chess players in Maryland, so I began giving lessons. These were both much easier to maintain, because once you find students they usually stay with you with only the effort needed to find new lesson material.
That brings me to the last thing, which has turned out to be the biggest "find" for me. Grass mowing and landscaping. I started mowing for friends several years ago and had about 4 clients to begin. Now, I'm up to about 14 and pretty much maxed out considering that I can't handle much more than that while school is in session. This business has been so profitable that I'm considering not doing private lessons anymore because I make a higher hourly rate doing this type of work than what I make with the lessons.
Like one poster mentioned, free time with family and beyond is also extremely valuable and that's the main issue for me. It's great to be able to make extra money. You really feel like you are getting ahead, but ultimately most things start out where you are the one controlling the work and by the end the work is controlling you. I'm just trying to find that balance.
One of the things that allowed me to stop pushing the gas on fitness programs is that I started college as a music major (trumpet) and am one of the top chess players in Maryland, so I began giving lessons. These were both much easier to maintain, because once you find students they usually stay with you with only the effort needed to find new lesson material.
That brings me to the last thing, which has turned out to be the biggest "find" for me. Grass mowing and landscaping. I started mowing for friends several years ago and had about 4 clients to begin. Now, I'm up to about 14 and pretty much maxed out considering that I can't handle much more than that while school is in session. This business has been so profitable that I'm considering not doing private lessons anymore because I make a higher hourly rate doing this type of work than what I make with the lessons.
Like one poster mentioned, free time with family and beyond is also extremely valuable and that's the main issue for me. It's great to be able to make extra money. You really feel like you are getting ahead, but ultimately most things start out where you are the one controlling the work and by the end the work is controlling you. I'm just trying to find that balance.
Re: The Side Hustle
I own my house and rent out 2 rooms. The goal is to renovate and rent the whole house, go buy another property and do it all over again.
I came to this by looking at my expenses. I live in a high COLA - Washington, DC. I had found a super cheap apartment and shared it with a friend, paying only $630/month in rent and super cheap utilities. But still, it was the largest chunk of my spending by far and because I was in an apartment, I had to pay for a dog walker (plus I was a slave to this dog's potty schedule). Ultimately, I needed to be in a house for the dog (cattle dogs *really* don't belong in condos) and I wanted to bring down my housing costs and reduce my dog walking costs to $0. So, I put 5% down on a house in an up-and-coming neighborhood that met my needs and filled the rest of it with roommates. After taxes, I spend about $400/month in housing costs, I'm putting $700/month towards the mortgage, the house has appreciated substantially and the dog has free reign of the house and back yard. The 6 foot fence and doggy door cost the same as a year worth of dog walks, so that paid for itself quite some time ago.
So, my side hustle was to reduce my living expenses, build wealth and make my life more manageable.
I came to this by looking at my expenses. I live in a high COLA - Washington, DC. I had found a super cheap apartment and shared it with a friend, paying only $630/month in rent and super cheap utilities. But still, it was the largest chunk of my spending by far and because I was in an apartment, I had to pay for a dog walker (plus I was a slave to this dog's potty schedule). Ultimately, I needed to be in a house for the dog (cattle dogs *really* don't belong in condos) and I wanted to bring down my housing costs and reduce my dog walking costs to $0. So, I put 5% down on a house in an up-and-coming neighborhood that met my needs and filled the rest of it with roommates. After taxes, I spend about $400/month in housing costs, I'm putting $700/month towards the mortgage, the house has appreciated substantially and the dog has free reign of the house and back yard. The 6 foot fence and doggy door cost the same as a year worth of dog walks, so that paid for itself quite some time ago.
So, my side hustle was to reduce my living expenses, build wealth and make my life more manageable.
She/her | Make sure the fortune that you seek is the fortune that you need - Ben Harper
- Mr. Potter
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Re: The Side Hustle
I actually consider being my own FA as somewhat of a side hustle, it's not always how much you make, many times it's more about how much you save.
Re: What do you guys do on the side?
I merged several threads into here.
Re: What do you guys do on the side?
I work with one of the FAANG firms and I take “mock interviews” for candidates looking to prepare interviewing with these firms. Get paid around $150/hour in cash. As I am quite busy - I restrict myself to 4 interviews / month.
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Re: What do you guys do on the side?
Very interesting! How do you market yourself to find candidates, if I might ask?
Thanks
Re: What do you guys do on the side?
There are companies / individuals that do and they charge $200/hour to candidates for preparation while paying me $150.deanmoriarty wrote: ↑Thu Jul 05, 2018 10:38 pmVery interesting! How do you market yourself to find candidates, if I might ask?
Thanks
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Re: What do you guys do on the side?
Never had a side hustle. Always felt it way more important to concentrate 100% of my efforts on my day (real) job to drive improved performance, higher pay raises and quicker promotions. This allowed my wife to be a SAHM from the time our first daughter was born and me to early retire at 53 (three years ago) with no pension (we live off of our investments).
YMMV.
YMMV.
Real Knowledge Comes Only From Experience
Re: The Side Hustle
glad it works for you so far.. I am sure you are fully aware that many agencies may see this as component of money laundering and eventually you may get a friendly invitation (or visit) to chat. As for how much the probe like that would disrupt the rest of your life (for years! with potential impact to your real livelihood if you work in regulated industries) and whether it is worth the points you got, it is up to you to decide...THY4373 wrote: ↑Thu May 31, 2018 7:29 am MS is not dead for me. Largely depends on where you live (I live in a target rich environment), how creative you are, risk tolerance, etc. I would say the bigger hit over the years has been on the earn side (multiple uncapped 5% CB cards, easy churning, etc.). But MS is probably much tougher if you live in a large metro area with lots of other folks hitting MS hard. Another reason I am very happy living in my second tier city for the moment. I honestly thought it would be dead for me by now. I am not impacted much by Chase's 5/24 as I am usually under it (I'll generally only get a card if I intend to keep it).
as for doing things on the side, does it have to bring money? I volunteer with Girl Scouts (as my daughters are in it) and love it, along with many causes locally. while I see people in local library going around with apps scanning the $1 book pile to check the e-bay/amazon going prices to 'score', unless it is a hobby, it is hard to me to think it is worth it...
Re: What do you guys do on the side?
I second this. Only "side hustle" i ever had was to further my education in support of my primary career.MikeG62 wrote: ↑Sat Jul 07, 2018 7:50 am Never had a side hustle. Always felt it way more important to concentrate 100% of my efforts on my day (real) job to drive improved performance, higher pay raises and quicker promotions. This allowed my wife to be a SAHM from the time our first daughter was born and me to early retire at 53 (three years ago) with no pension (we live off of our investments).
YMMV.
Once in a while you get shown the light, in the strangest of places if you look at it right.