Investing might sound scary or intimidating, but really it’s about one simple idea:
How to make your money work for you.
You earned it once, now how can you multiply it in a way that aligns with your risk tolerance?
It’s weird, but I sit on both ends of the spectrum on this, at once having made big bets on my own business and experimenting with “alternative” investment platforms, and on the other hand being paralyzed into sitting on the sidelines by fear the market might go down.
In this section of the site, you’ll find information on real estate investing, peer-to-peer lending, and even buying businesses.
Know your net worth. Your net worth is the sum of all your assets (cash, savings, mutual funds, equity in your home, etc.) minus your liabilities (student loans, credit card debt, mortgages, etc.).
One tool I like to help calculate your net worth is Personal Capital. It’s free!
Know your objective. What’s the goal of your investment? A goal of accumulating wealth to retire in 30 years is very different than a goal of earning $1000 a month in positive cash flow.
Dr. Kenyon Meadows MD is a practicing Radiation Oncologist by day, but by nights and weekends he’s a self-proclaimed alternative investment enthusiast.
Tune into this edition of The Side Hustle Show to hear how Dr. Meadows is earning double digit returns in Turnkey Rental Properties, Real Estate Private Lending, and Business Lending.
He also shares you can get started yourself for as little as $10.
Chad Carson is a 30-something semi-retired real estate mogul, who together with his business partner, oversees a portfolio of 90+ rental units.
In fact, he and his wife are in the middle of an exciting adventure — a year abroad in Ecuador with their two daughters.
But of course he didn’t start there. Fresh off the football field at Clemson, Chad’s real estate career started more modestly by “bird dogging” and house hacking — two of the tactics he shares in this week’s show.
My experiment with peer-to-peer lending at Prosper.com continues, though I’m not quite as bullish on it as I was a year ago. The platform has seen some impressive growth, both in terms of the number and volume of “originations,” and the number of lenders competing for the most attractive loans to lend on. I’m still … Read more
Have you ever done a juice cleanse or a “Whole30” challenge?
While I haven’t ever gone to that extreme, I DO always feel better physically and mentally after even just a few days of clean eating.
So if a quick “cleanse” can work for our health, why not try it with our money?
Just 30 minutes with Josh saved me thousands of dollars, so you owe it to yourself to listen to this episode and see if you can put some money back in your pocket too.
Josh Bauerle is the CPA on fire at cpaonfire.com. Josh specializes in tax preparation, tax planning, bookkeeping, and general consulting services for online entrepreneurs.
Try as I might to do all my shopping online, I still find myself running errands around town at least on a weekly basis.
And my guess is you’re in the same boat.
With Christmas and the holiday season coming up, I wanted to share a few cool apps and resources that can help you save money while you shop, make a few extra bucks, and even invest your change.
Here’s how The Side Hustle Snowball works:
You itemize out your expenses and then aim to come up with side hustle income to cover them, starting with the smallest and working your way up.
Once you reach the bottom of your list, you don’t need your job anymore!
As you know, I’m excited about alternative investments like peer-to-peer lending. And if your aim is to replace your income, I think it makes sense to invest for cash flow.
This week’s Side Hustle Show guest argues when you want something in other areas of your life, you go out and buy it: a pair of shoes, a computer, a new car. You don’t make it from scratch!
So why are we so insistent on building income from scratch? He says there’s a faster way, and that’s to “buy” assets that are already generating positive cash flow.
Regular Side Hustle Nation readers and listeners have a whole brain full of strategies on how to get paid.
The question is:
What do you do with the extra income?
What if your savings could pay you growing passive income every year? This article covers how to make your side hustle earnings continue to hustle for you – without doing anything.
Your tax return will show you your total income, your adjusted gross income, and your taxable income, but those numbers don’t show the most important figure of all.
Your “taxable income” is meaningless.
So what’s the most important number the IRS doesn’t care about but you should?
Your net profit.