Side hustles
Anyone here have a serious side hustle that they're juggling or considering pivoting to? I'm a content creator on the side and am considering quitting my (lucrative + "prestigious") job to do it full time for 1 year+ and see if I could make it work. I'm wondering if there are others who run side businesses, have passion projects, etc. That would make me feel less crazy for considering this, and it would be great to trade ideas on how you're planning to make it work
Based on the most helpful WSO content, many professionals in high-demand fields like investment banking, private equity, and real estate have explored side hustles or passion projects. Here are some insights and examples shared by others:
Stock Portfolio Management: Some individuals, leveraging their financial expertise, have built significant stock portfolios. For instance, one user mentioned managing a portfolio with invested capital of around $1 million while working full-time.
Real Estate Ventures: Real estate side hustles are popular, ranging from owning and self-managing small multifamily properties to exploring property management contracts. These ventures can provide additional income and even serve as a stepping stone for future independence in the field.
E-commerce and Startups: A few have ventured into e-commerce businesses or invested in startups. These side hustles often align with their long-term goals of financial independence or transitioning out of their primary roles.
Creative Projects: Some professionals have pursued creative outlets like filmmaking or content creation, similar to your situation. While these may start as hobbies, they can evolve into full-time endeavors if approached strategically.
Hard Money Lending: For those with capital and an interest in real estate, hard money lending has been considered, though it requires a learning curve and careful risk management.
Balancing Feasibility: A recurring theme is the importance of ensuring that side hustles do not interfere with primary job responsibilities. For example, owning and managing a few rental units was deemed feasible, while being a broker alongside a full-time analyst role was not.
If you're considering pivoting to content creation full-time, it might help to: - Set a clear timeline (e.g., 1 year) to evaluate its viability. - Build a financial cushion to sustain yourself during the transition. - Network with others in the content creation space to exchange ideas and strategies.
You're not alone in exploring this path, and many have successfully transitioned or balanced side hustles with their careers. Just ensure you have a solid plan and realistic expectations before making the leap!
Sources: Real Estate Side Hustles, https://www.wallstreetoasis.com/forum/job-search/looking-for-advice-second-job-weekend-advice?customgpt=1, The PE career path, Side hustles
Sounds awesome. I was doing content and honestly really enjoyed it. New gig has a lot of compliance / regulations that made me stop posting. Wish I kept it up. Keep trying to balance it until it replaces your income. Once that happens I say YOLO.
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