Take care of yourself in the long run with these compounding activities:
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Side hustles are good for companies. The rich perspectives derived from diversity of experience only make your team stronger.
Side hustles are more than the clickbait suggestions such a...
A side hustle seldom makes much money, but it is more something you do because you like it. It is not the same as a "second job" as you don't feel pressure to use it to makes ends meet.
Team members that have side hustles rather than second jobs mean that the company is doing something right, whereas if it is the other way around, it might indicate some problems in your business practices.
Team members should be encouraged to focus on personal growth outside of work, regardless of the form it takes.
Research shows that innovative companies are more successful when they hire entrepreneurial-minded people who have the drive to hustle on the side. Side-hustling workers tend to be passionate, which impacts their work in a positive way.
Early retirement is not defined as when you stop working forever, but as having the freedom and flexibility that saving up enough money can give you if you want to leave a job....
A good early retirement strategy is built on maximizing three aspects: Income, expenses, and savings.
To build your early retirement strategy, you need to determine your retire early or financial independence (FI) number. It is the amount of money you need for work to become optional. Be aware that the number will (and should) change as you change, and your desired lifestyle evolves.
Based on a series of papers known as the Trinity Studies, you need to save 25-30 times your expected annual expenses to have enough money to last you for the rest of your life.
This multiple is based on the percentage of your investment growth that you would be able to withdraw per year. A safe early retirement withdrawal percentage is between 3%-4%.
Think if you are willing to sacrifice your free time to struggle to establish a side hustle and if you can handle the consequences of it.
If you are willing, develop a system of ...
Acquire relevant skills, experience or industry knowledge necessary and ensure you have the passion and competence for what you are going to work on.
A good start is to monetize the skills you already have that are related to the side hustle you want to establish this. And if you lack key skills that relate to your interests or the side hustle you want to create, there's no better time than the present to learn them.
Your side hustle idea may seem awesome and disruptive to you, but your potential customers will likely ignore it like most “brilliant ideas” or even not have a need for it. So, ensure you're not creating a solution to a problem that doesn't exist, as this is one of the top causes of startup failures.
You can do that with objective feedback from potential customers and asking them to join a waiting list, pre-purchase your solution or hire you as a service provider.
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