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Anyone else long on AMT?
Additional Posts in Side Gigs
😭 👶🏿 🌈 🐻. 🚀 🌚
Is opening a boxing gym worth it?
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Anyone else long on AMT?
😭 👶🏿 🌈 🐻. 🚀 🌚
Is opening a boxing gym worth it?
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For me, it was when my main gig no longer made sense for me to continue. To keep my main gig, I’d have to sacrifice more of my personal time to commute to an office and it was not a role that fulfilled me. The moment I couldn’t find a good reason to hold onto it was the moment I knew I should make my side gig my main gig. Now, I am increasing my business through marketing so I can completely replace my main gig’s income.
I love that! Good for you!
When I get sustainable profit from it! I'm a realist.
That's kind of my thing. Tracking my revenue from last year to this year - if it's sustainable, I'll quit my job by this time next year. Wanna be a digital nomad ideally
For me, it would be at 3x your w2 income.
1x to cover your w2 income
1x to reinvest
1x to save
I had a side gig I wanted to pursue until my father-in-law gave me sound advice. He said “you’ve got three kids so medical insurance for the family is number one. So start at that. Just say it costs $12k a year for unsubsidized medical insurance for five, you need to make at least $1,000/month just to be at zero. Then you can start thinking about replacing your salary, your 401k, and all the security of having a regular job. So I’m all for building it on the side, but you can’t leave your steady job.”
Hence my feeling trapped at EY…I’m here for the security 🤷🏼♂️
When you are making consistent steady income that is enough to replace the main gig. I think for me its not consistent enough so it makes me nervous. But I say go for it if you feel ready!
It all about your commitment in taking your side gig full time. I know many who have left the rat race and exploded in their side gig.