Side Gigs and Unconventional Income

[Eric]

I was daydreaming about buying a travel trailer so we could spend more time up at her family's lake place. My wife said something about renting an RV which led me to discover rvshare.com, outdoorsy.com, and similar sites. (They're the Airbnb and VRBO of the RV/camper world.) I could pick up a trailer a half hour from the lake and save 4 hours of towing (round trip) which is neat... But it also got me thinking about buying one and renting it out when we're not using it... In combination with the little farmer's market/craft event we went to this weekend, it got me thinking about alternatives to working a job that has nearly burned me out and working for a boss (COO) that really hates me and will fire me 5 minutes after the owner sells his shares and walks away (2-4 years tops).

What side gigs or unusual income sources do other TI'ers have?

[xkosmox]

Sold cosmetic contact lenses to teenage girls and office ladies; to fund my university education.

Now considering writing an Amazon e-book in the next few months (Wonder if the trick to get #1 Top Seller on Amazon still works haha)

Well I suppose the good thing with the pandemic is that you won't have to see someone that hates you physically in office daily; gotta put a "shield" to avoid his/her negative energy influencing you.

[DrSven]

That is indeed a really interesting topic. So far, I only have my main job and investing as sources of income. My job would enable me to set up for some freelancing in the same field (fire testing/quality management auditor and/or consultant) on the side. Right now, I do not have the urge to do that but we will see.
I am daydreaming on making money from creating things, e.g. woodworking and such. But it would not be as efficient as a main job. And most of the crafts are protected in Germany, i.e. you can hardly do it as a freelancer but have to found a company, to do that you need to be a master craftsman by education in some case -> seems complicated as far as I know by now.

I am really curious what the fellow TIs do.

[Eric]

Well I suppose the good thing with the pandemic is that you won't have to see someone that hates you physically in office daily; gotta put a "shield" to avoid his/her negative energy influencing you.

I worked from home maybe 10 days in 2020 when the COO was terrified of catching a cold, then the COO started coming in to the office again in December... now he's in the office again more than half time and I would be happy to never step foot in the office again (I've been in 29 days so far in 2020 but only 5 of those days are April 1 thru today).

[Eric]

I have considered various farm businesses with high value crops--I have a sub-compact tractor and I could till up to about 1.4 acres (about 0.57 hectare) on my property pretty easily. I have also considered various craft type businesses; things I could produce with a small CNC router or laser. My biggest problems are #1 I don't want to work retail (selling at farmer's markets and craft fairs which is where you would make better margins) and #2 farming would take a significant labor and time investment (possibly months to years before a marketable crop is ready).

[jlhooter]

Eric is there something that you are passionate about like a hobby that can be converted into a business?
I was thinking about basic financial education resources or apps for college kids. They don't understand basic finances for themselves and I was thinking of tools they could use. Anyway finance is a general interest of mine and I thought I could generate an Excel Form that they could use. I was also thinking of a Blog but hard to figure the right subject.
Good luck with what you choose.

[blogbuilder]

The first 25 years of my career I worked for large corporate companies, here in the UK. I climbed the career ladder quite well but then 'downsizing' started. I 'survived' approx 6 rounds of downsizing but I knew one day my name would be on the list and be laid off.

My career was in IT so I decided to learn how to build websites and create my own online products. It took me 3 years of working nights and weekends before I took the leap and left the corporate world.

Goodbye monthly cheque, bonus, pension, private health, company car!

That was 15 years ago.

Now I have numerous clients who's websites I build, change and maintain and I have 20+ products for sale that bring in passive income.

The income is much less that when I worked in the corprate world but the freedom is priceless.

Don't get me wrong...I loved my corporate career but I needed a 'Plan B'.

If you have a real passion for a subject and know that subject inside/out...is there a demand for such a subject? Check if people will pay for that. Remember many people buy for the convenience of what you are offering.

[SOL]

I will post data on various individuals I know that tried different things with a high success rate. But it all entails taking on some risk but the risk is a small factor compared to the passion factor. You need to be driven and have passion for what you seek or want to do. If you have that, then the risk factor drops significantly

3 individuals I know saved from 25K to 50K and decided to go to various parts of Eastern Europe between 2004 and 2006. The bought many fixer uppers some for as little as 9K. on the side they taught English. Those fixer uppers are now worth on average over 150K and are generating a nice rental income

Several individuals went to Vietnam bought property in Hanoi, Dalat, Sapa, before prices took over. They did not know they would take off but they felt it was time to break free from the rat race and try something new. Several of the properties in Vietnam shot up almost 1000% from the price they paid for it. You heard right. They also decided to teach English on the side, one of them was a programmer, he later started freelancing to make more money and the returns were not bad. When you take into consideration that in places like Vietnam the buying power of the USD is 4X more you don’t need to make as much. What I noticed from looking at pictures 1-2 years after they made the move was that they all looked better, had less stress (this was observed from talking to them) and generally looked younger and happier.

I will randomly speak of other Individuals I know that took the plunge, and are much happier years later. I will also provide some suggestions on what one can consider.

I also to the path that is least traversed.

I had to make a decision long time ago take my degrees which I graduated with honours in and work in the banking field or wall street or take plunge. A very short version of what happened I might add more ot it later. For almost 3 years after graduating i worked sidge gigs trying to find promote the financial business I wanted to get into. It was quite tough at any moment i could have quit and settled for a well paying job behind the desk but I did not. While my friends raked in big bucks, but they were unhappy. I could see the signs of being imprisoned setting in. From a young age I could not stand to be stuck and for me a day of freedom is worth more than a year's worth of salary as a 9-5 slave, which in most cases is now is 6 to 9 or more when considers commuting, the extra work many take home to complete etc.


So find what you like and prepare to make some sacrifices but if you are happy with what you are doing and have a passion for it, you will never regret it, For in the end freedom is absolutely priceless

[stefk]

With 0,60 ha, you could be food autonomous for you and all your family by adopting permaculture farming. Its a farming method working with the nature and not against the nature, by using association between plants, insects and your animals. I use this method on 0,10 ha, and its fabulous. With this method, the plants and the animals enjoy life, and you also enjoy more this life. Of course its not a direct income, but indirectly its a very rewarding experience. This year, I use for the first time the aztec association between mais, beans and pumpkins. Thats the best example of positive plants association, amongst others. The ancient aztecs already used permaculture, thanks their agriculture they were powerful.

https://en.wikipedia.org/wiki/Three_Sis ... riculture)

[AstuteShift]

Currently work in medicine, however the job has a ton of free time for me, tons of holidays off and also responsibilities shifted to the MDs

Most would not be happy since it’s a pretty simple job compared to most but I use the free time to trade, read on MP and test indicators to match my style

Since the corona crash, the trading accelerated to a higher level, also my stress factor is reduced. All of my trading accounts, taxable, Roth and even my 401k is on TI principles and trades.

I managed also to pay off 70k in debt. No car, no marriage and nothing that is detriment to my goal, which is to escape this rat race.

Also helped my father pay off his mortgage, now I’m also managing my parents money to build a nice retirement for them.

Many ask me to progress to MD (I’m a PA) however since the corona hysteria, the medicine field I lost faith in and so no reason to continue any longer.

[SOL]

Currently work in medicine, however the job has a ton of free time for me, tons of holidays off and also responsibilities shifted to the MDs

Most would not be happy since it’s a pretty simple job compared to most but I use the free time to trade, read on MP and test indicators to match my style

Since the corona crash, the trading accelerated to a higher level, also my stress factor is reduced. All of my trading accounts, taxable, Roth and even my 401k is on TI principles and trades.

I managed also to pay off 70k in debt. No car, no marriage and nothing that is detriment to my goal, which is to escape this rat race.

Also helped my father pay off his mortgage, now I’m also managing my parents money to build a nice retirement for them.

Many ask me to progress to MD (I’m a PA) however since the corona hysteria, the medicine field I lost faith in and so no reason to continue any longer.

Something you or those that are looking for new options might consider is advancing your studies in the medical field or at least studying more so that you can look into opening life extension clinics or alternative medicine clinics overseas where the restrictions are very low and not as barbaric as in the US. Life extension therapies are set to gather serious traction in the years to come. One can hire doctors overseas at reasonable prices to run these clinics and you can manage them. Something to think about.

[Triplethought]

Currently work in medicine, however the job has a ton of free time for me, tons of holidays off and also responsibilities shifted to the MDs

Most would not be happy since it’s a pretty simple job compared to most but I use the free time to trade, read on MP and test indicators to match my style

Since the corona crash, the trading accelerated to a higher level, also my stress factor is reduced. All of my trading accounts, taxable, Roth and even my 401k is on TI principles and trades.

I managed also to pay off 70k in debt. No car, no marriage and nothing that is detriment to my goal, which is to escape this rat race.

Also helped my father pay off his mortgage, now I’m also managing my parents money to build a nice retirement for them.

Many ask me to progress to MD (I’m a PA) however since the corona hysteria, the medicine field I lost faith in and so no reason to continue any longer.

Something you or those that are looking for new options might consider is advancing your studies in the medical field or at least studying more so that you can look into opening life extension clinics or alternative medicine clinics overseas where the restrictions are very low and not as barbaric as in the US. Life extension therapies are set to gather serious traction in the years to come. One can hire doctors overseas at reasonable prices to run these clinics and you can manage them. Something to think about.

SOL - In the U.S. anything that is "all natural", "herbal", homeopathic generally don't have restrictions. Of course, as I expressed before I think 99.999% of such products are complete "snake oil" without double blind science to back them up so I could never make a living in them. I am curious about NAD+ but I suspect that is also snake oil.

SOL - the only thing I know that scientists consider credible in terms of extending life is to limit calorie intake. Even exercise has not really been proven to extend life (not scientifically with absolute certainty last I checked).

Astute - I have wondered about opening a "DIY Medical Lab" - in a strip mall. The idea is you'd take blood samples for cash pay (no insurance), if possible also buy a used x-ray, maybe you could do swabs or stool samples etc. The gig would be to explain that you can send tests in for them, have them interpreted by overseas folks "for personal information only - not for medical diagnosis". Not sure if you could get away with such a statement if you had them sign a waiver. I know you can have India based doctors look at X-rays. As a PA you could probably explain what the numbers mean and also suggest what blood tests they order. The big downside I see is a) retail business again - means either you have to be there certain hours or hire employees (yuch) B) people are cheap and now that obamacare is around they want to use insurance - ie possibly a declining market. BUT I think for privacy and other reasons there will be a nich market. Anyway I guess there used to be one in Phoenix - I'd research the idea because I think putting people in charge of their own medical tests makes sense.

[Triplethought]

I was daydreaming about buying a travel trailer so we could spend more time up at her family's lake place. My wife said something about renting an RV which led me to discover rvshare.com, outdoorsy.com, and similar sites. (They're the Airbnb and VRBO of the RV/camper world.) I could pick up a trailer a half hour from the lake and save 4 hours of towing (round trip) which is neat... But it also got me thinking about buying one and renting it out when we're not using it... In combination with the little farmer's market/craft event we went to this weekend, it got me thinking about alternatives to working a job that has nearly burned me out and working for a boss (COO) that really hates me and will fire me 5 minutes after the owner sells his shares and walks away (2-4 years tops).

What side gigs or unusual income sources do other TI'ers have?

I think side gig renting an RV is impractical. I thought of doing this at burning man and I know a guy who has 17 trailers and uses it as a side seasonal business but it is a CRAP ton of work. The minute there is a problem with the RV the renter expects you to hustle out and fix it. Or their vacation is "ruined". talk about time pressure. No thanks. As for farming there is a reason that at the turn of the century lots of folks made their livings on farms and now relatively few do. Humans in farming is a business that is being displaced by automation at a rapid pace.

Anyway, having started and run several businesses I can tell you they are never easy peasy. If they were, everyone would be an entrepreneur. If your expertise is IT - (I think that's what you said) I'd suggest you do that.

[Triplethought]

I have considered various farm businesses with high value crops--I have a sub-compact tractor and I could till up to about 1.4 acres (about 0.57 hectare) on my property pretty easily. I have also considered various craft type businesses; things I could produce with a small CNC router or laser. My biggest problems are #1 I don't want to work retail (selling at farmer's markets and craft fairs which is where you would make better margins) and #2 farming would take a significant labor and time investment (possibly months to years before a marketable crop is ready).

CNC plasma table to produce metal address and home name signs for high end homes might be a good side gig. Once again, you'd have to sell them at home shows and what not. But you might be able to find a niche to sell online at amazon or walmart. Problem with those markets is the chinese rip you off the second you have anything that is mildly successful. I know a gal who makes mounts for playstations and other things (sheet metal products). The Chinese not only ripped her product design off, they literally put her literature in the box and used her logo. So if some poor customer buys the knockoff product on Amazon - the ripoff artist makes the initial profit (on an inferior quality product) and SHE gets the tech support call. Ballsy and crazy what is going on out there

[AstuteShift]

Currently work in medicine, however the job has a ton of free time for me, tons of holidays off and also responsibilities shifted to the MDs

Most would not be happy since it’s a pretty simple job compared to most but I use the free time to trade, read on MP and test indicators to match my style

Since the corona crash, the trading accelerated to a higher level, also my stress factor is reduced. All of my trading accounts, taxable, Roth and even my 401k is on TI principles and trades.

I managed also to pay off 70k in debt. No car, no marriage and nothing that is detriment to my goal, which is to escape this rat race.

Also helped my father pay off his mortgage, now I’m also managing my parents money to build a nice retirement for them.

Many ask me to progress to MD (I’m a PA) however since the corona hysteria, the medicine field I lost faith in and so no reason to continue any longer.

Something you or those that are looking for new options might consider is advancing your studies in the medical field or at least studying more so that you can look into opening life extension clinics or alternative medicine clinics overseas where the restrictions are very low and not as barbaric as in the US. Life extension therapies are set to gather serious traction in the years to come. One can hire doctors overseas at reasonable prices to run these clinics and you can manage them. Something to think about.

SOL - In the U.S. anything that is "all natural", "herbal", homeopathic generally don't have restrictions. Of course, as I expressed before I think 99.999% of such products are complete "snake oil" without double blind science to back them up so I could never make a living in them. I am curious about NAD+ but I suspect that is also snake oil.

SOL - the only thing I know that scientists consider credible in terms of extending life is to limit calorie intake. Even exercise has not really been proven to extend life (not scientifically with absolute certainty last I checked).

Astute - I have wondered about opening a "DIY Medical Lab" - in a strip mall. The idea is you'd take blood samples for cash pay (no insurance), if possible also buy a used x-ray, maybe you could do swabs or stool samples etc. The gig would be to explain that you can send tests in for them, have them interpreted by overseas folks "for personal information only - not for medical diagnosis". Not sure if you could get away with such a statement if you had them sign a waiver. I know you can have India based doctors look at X-rays. As a PA you could probably explain what the numbers mean and also suggest what blood tests they order. The big downside I see is a) retail business again - means either you have to be there certain hours or hire employees (yuch) B) people are cheap and now that obamacare is around they want to use insurance - ie possibly a declining market. BUT I think for privacy and other reasons there will be a nich market. Anyway I guess there used to be one in Phoenix - I'd research the idea because I think putting people in charge of their own medical tests makes sense.

Don’t think malls will recover with the landscape of the relentless lockdowns and QE stimulus forever

In certain states, they allow already lab companies to sell blood tests for cash and results come to you, anything abnormal they have a medical professional on stand by for a call

Telemedicine is exploding, however as a provider, it leaves you a vulnerable spot since sometimes people can’t articulate their issues well, sometimes they lie and certain scenarios you need a good physical examination to find the root cause. I did telemedicine during COVID and it was a mind cluster to say the least, it’s so much easier to read the person in real physical time

I think eventually that will be the new model, letting people choose and even scraping the MD or provider and having AI run through the tests and telling what’s best. Most of medicine already is run through algorithms, AI will just advance that even further