Supplemental Income/Side Hustles

[BigN8]

Yep. Monday nights were the best money for me in football. I’d do a 7th grade 3 banger where the C team sucked so bad we just ran the clock. B team we basically all agreed to not throw a flag to stop the game unless it was a gross personal foul that would cause injury, and we ran the clock best we could. A team game we somewhat officiated normally minus holding calls. I would be there for about 2.5 hours and get paid $185 with mileage. Easy money. I usually did more coaching and instructing than officiating which I enjoyed.

 

[BlkGS]

Build your side hustle into something that helps you retire early, while also building your career. Let's be real here, you are not going to get rich building a career. Can you get comfortable sure.... but at best whats your max.. 150-200k a year? If you a super lucky and hard working and brown nose maybe work into a 500k+ job in your 50s or later. Find a way to build generational wealth. Increase your income, mainting or reduce current spending. Re-invest side hustle income.

What are you good at? What assets do you have to currently have that can make you money?

If you plan on staying on your house, take out 80k and buy an AirBNB home. In the right area you can net 30k+/year profit off that home. Keep buying more rentals. In ten years you could be making 300k alone off rentals. In 20 years a million a year. Like I said find what you want to do and what works for you - this is America the sky is the limit.

As far as career, as someone else said, move companies around every two years. Pretty easy way to get a 20k raise.

Problem with this, LITERALLY EVERYONE is doing it. After a couple of people built YouTube channel about it, the amount of people trying this has gotten insane. My best friend from NC thinks he's going to be financially free because he keeps buying up shit box apartments to rent with virtually no money down. The amount of risk he's taking on is literally insane - it's virtually impossible to get a deadbeat renter out, and you're stuck with all the cost then. And if the economy does go into a correction like everyone seems convinced it will... Having to pay your main home plus 2 or 3 side mortgages in a down economy... That's a recipe for bankruptcy.

My best friend is pretty smart. The other people I know doing it are decidedly NOT smart. One girl we know makes less than either of us, is an idiot, and bought a house more pensive than our house as a rental. She apparently bought something else earlier this year.

You can make money off rentals, but you don't do it by buying at the all time peak of housing prices. You do it buying when shit is dirt cheap and or foreclosed, and buying things in very good locations.

 

[scokill]

Not really me or a side hustle, but my wife who worked sporadically until our kids were grown, and my sister in law started a medical supply company in their 50s. They knew nothing, learned, and took about 3 years to start up and make money and a few years later they have about 7 employees significant revenue. They found a niche with cash pay/medicaid only. I only say this because it was supplemental income while 3 kids are in college over 10 years now it will fuel retirement when they sell the business.