A Full-time Employee And A $4300/m Side Hustle!
What does it take to launch a side hustle besides a full-time job?
In Shapiro’s words-
”I’ve always been entrepreneurial, I was that little girl selling girl scout cookies and candy bars, trying to help my family as much as possible.”
Shapiro works forty hours a week at her government job and spends seven to fifteen hours a week on the side hustle.
She’d had to figure out the balance between working full-time, building a side hustle, and life as a spouse.
Failure carved her success story!
Shapiro’s job involved a lot of travel, which meant she had an immense amount of free time whilst doing so.
To use it more productively, she started listening to entrepreneurial podcasts and eventually stumbled upon the Smart Passive Income podcast, hosted by Pat Flynn, which inspired her to start a side hustle that could be established completely online.
Thus taking her chance, she started her first online side hustle which flopped terribly and generated nothing more than $1500 in TWO YEARS!
However, there’s always a lesson that accompanies a failure and a network to start with.
Being involved in entrepreneurial Facebook groups, she met Dr Mike Chua, a fellow physical therapist who eventually became her business partner.
Together, the two launched an online education company in 2020 called Alternative Healthcare Careers.
The company vouches for online careers, side hustles and business opportunities for healthcare workers and how they can branch out into a successful online hustle.
The business saw $10,000 in sales in year one and expanded to $100,000 in sales in year two.
The 150,000$ student loan but she never pays a penny in it?
- Shapiro found that physical therapists are eligible for a public service student loan forgiveness plan. The only catch—she’d have to work for that company for ten years.
According to NextAdvisor–
The way a public service student loan forgiveness works is:
You work for either government organizations (at any level) or a not-for-profit organization that is tax-exempt under Section 501cWork at least 30 hours per week for the employer Have Direct Loans (or consolidate other federal student loans into a Direct Loan)Make 120 qualifying monthly payments.
Shapiro’s student loans kept growing.
However, instead of trying to pay the loan back, she enrolled in a public service loan forgiveness program and directed the extra income from her side hustle towards her mortgage, savings, and investments.
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Why Is A Side Hustle Necessary?
With chatter of a forthcoming recession, people eyeing financial independence are investing into an additional stream of income that has low startup costs, such as a side hustle or small business, to better their monetary situation.
So Yes! A side hustle and especially and one in the online space is the best investment you could have!