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Fiology Lesson 39: Side Hustle Up!


Fiology thanks the FI community’s side hustle expert Kevin of Financial Panther for shaping this lesson.

A side hustle is one of the most powerful tools you can use on your path to Financial Independence. That’s because, assuming you’re already living fine off your day job income, every single dollar you earn from a side hustle can be saved. This can dramatically increase your savings rate and speed up your journey towards Financial Independence. Even a relatively small amount of money – a few hundred dollars a month, for example – can add up to hundreds of thousands of dollars if invested over the long term.

Not only can a side hustle grow your portfolio, but it can also mean that you could potentially make do with a smaller one. You’ve learned about the 4% rule in Lesson 3 – that is, you should be able to withdraw 4% of your portfolio each year and have your portfolio theoretically last forever. That same principle can work in reverse. $5,000 per year of extra income, for example, requires a $125,000 portfolio to create the same amount. Thus, someone who can consistently make $5,000 per year on the side could get away with $125,000 less in their portfolio. It might not be complete Financial Independence, but imagine how comfortable you would be if all you had to do was make a few thousand dollars each year to live.

Now that you know the value of side hustling, the only thing stopping you might be that you either think you don’t have the time to do it or you don’t have any ideas. The great thing is that in today’s world, there are so many ways to earn extra income on your own time that anyone can start a side hustle. Sharing economy and gig economy apps like Airbnb, Uber, Rover, Postmates, and Wag allow anyone to start up a side hustle, on their own time and without very much upfront costs. All you have to do is just get started.

So, if you don’t have a side hustle, consider getting one. It’s worth a lot more than you think as you continue on your path to Financial Independence.

Read:  99 Side Hustle Business Ideas You Can Start Today  by Nick Loper of

Read:  Monetize Your Life And Get Paid To Live  by Kevin of

Read:  Ten Ways to Find Time for Your Side Hustle  by ESI of

Listen:  030 | The Side Hustle | The Unspoken Lever Of FI  by Alan Donegan of

Listen:  Side Hustle Nation – Invest in Yourself  by Nick Loper of

Take Action: You now know how valuable a side hustle can be when it comes to reaching Financial Independence. If you don’t have a side hustle, take a look around you and see what things you can do to earn extra income. Start small – challenge yourself to earn just $100 extra each month. Once you do that, you’ll probably find even more ways to earn extra income.

Additional Resources:

Read:  The Side Hustle Snowball: How to “Erase” Your Expenses with Extra Income Streams  by Nick Loper of

Read:  The Underrated Value Of A Side Hustle For Early Retirement  by

Read:  Life Hacking in Pursuit of Financial Freedom: How I Add $1,500+/Mo to My Income  by Craig Curelop of

Explore: Airbnb,  Rover,  Postmates,  DoorDash,  Uber Eats,  Wag,  Bird,  Lime  (these are the Financial Panther’s favorites)

Quote: “Everyday I’m hustlin’.” – Rick Ross is an educational resource designed to teach Financial Independence (FI). We scoured the internet to find content from the best and brightest of the FI community and created lessons covering the critical concepts.

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3 thoughts on “LESSON 39 : SIDE HUSTLE UP!”

    • Sean,

      And with all the Side Hustlers in the FI community, I know they will be interested. Your post on Section 199A is great and can now be found in Fiology Lesson 19: Don’t Evade Tax Knowledge.


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