The Side Hustle Spotlight is a weekly roundup of interesting posts and articles about physician side hustles and personal finance.
This week I discussed How to hustle $30,000 without wearing pants – a look at my newest work-from-home job. I’m not going to lie – making money from my couch is way easier than working in an Emergency Department. Easy money is the next best thing to free money, so I think I will be keeping this side hustle for a long time.
So many great blogs, so little time. Crispy Doc recently posted Physician Finance Bloggers: 50 of them. I was honored to make the list and look forward to checking out all these new authors.
Speaking of new blogs, Ray from Fifteen Minute Financial Fitness just claimed the 51st seat at the physician finance blogger table. He recently discussed 4 Ways Financial Fitness Will Make You a Better Parent. As a father of 3 I couldn’t agree more.
With this new side hustle cash in my pocket, I’ve been thinking about the best way to invest it. Millionaire Doc gave me some inspiration with The Ultimate Guide to Self-Directed Retirement Accounts. This seems like a great way to invest in real estate and get me closer to financial independence.
I’m not the only one who sees side hustles as a ticket to freedom. ESI Money’s How a Side Hustle Business Can Get You to Financial Independence in 10 Years was recently featured on Rockstar Finance. There is no doubt that boosting your income and savings rate gets you to the finish line quicker.
Rockstar Finance also recently posted Money Match-Up: Career Versus Side Hustle: a debate between The Flawed Consumer and Personal Finance for Beginners. Although I can see both sides of the argument, side hustling works best for me. I’ve already maxed out my earning power as an emergency physician, and the side gigs provide some variety to my week.
Sometimes it’s okay to loosen the purse strings. The Physician Philosopher advocates spending 10% of any raise or bonus and investing 90%. He shares his recent purchases in Application of the 10% Rule: Winkbeds and Swagger Wagons. You know you’re a responsible dad when your “frivolous purchase” is minivan tires.
Are you still on the fence about whether you should be making traditional vs Roth 401k contributions? Physician on Fire will guide you with Should You Invest in a Roth or Traditional 401(k)?. As a high earning physician I am solidly on team traditional. I’ll take my tax deductions and run.
These highlights are just the tip of the iceberg. If you can’t get enough, check out Crispy Doc’s list of bloggers and you’ll be up to your neck in personal finance.