Should You Turn a Side Hustle into Your Main Job?
Money Guy Show
Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors
4.7 • 3.1K Ratings
🗓️ 27 March 2023
⏱️ 35 minutes
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Summary
Transcript
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| 0:00.0 | Next up, we've got Sam's question. |
| 0:09.2 | He says, I'm getting a decent amount of passive income, but I'm scared to quit my salary |
| 0:14.7 | job. |
| 0:16.0 | What do I need to consider to make this jump? |
| 0:19.9 | Well, say, this is always so interesting. |
| 0:25.6 | I think downturns, the number of businesses and other things that it creates, it's almost |
| 0:31.6 | like a up. |
| 0:33.6 | Dounternds, I always tell you guys, the bad stuff, they're all extroverts, whether it's |
| 0:37.8 | real estate marketplace, whether it's recession, whether it's the stock market going down, |
| 0:43.7 | unemployment going up, these things all hang out together. |
| 0:47.0 | But the optimist of me likes to say there is a positive thing. |
| 0:50.7 | The lemonade that comes from the lemons is that we get so many people that start businesses |
| 0:55.9 | without meaning to start businesses. |
| 0:57.8 | It sounds like Sam is kind of somewhere in that journey. |
| 1:02.0 | It's one of those things where he's trying to figure out, do I jump? |
| 1:05.5 | Or do I keep the comfort of basically still having a wage? |
| 1:10.5 | That's the difference. |
| 1:11.5 | Do I do this on my own or do I do the wage? |
| 1:14.6 | As an entrepreneur, it takes a while to get rid of that fear. |
| 1:18.1 | If it ever goes away, I think this is one of those things. |
| 1:20.2 | Always say entrepreneurs have a healthy fear that it could go away tomorrow. |
| 1:25.2 | That's why a healthy entrepreneur is actually going to take action to make sure you're creating |
... |
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