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Old 05-11-2018, 11:03 AM
 
545 posts, read 173,114 times
Reputation: 1066

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I've been telling people to have the same kind of mindset like yours. I tell people that it never hurts building a side hustle, a side income, a side something. You are on the right path.

I tell people, you need to give yourself options and you need to be able to protect yourself, who knows what the future holds. Something bad can happen that will cause you to lose or leave your job. Like spouse or a child in an accident that will now need 24 hour care, you getting fired at the weakest moment of your life, your health fails, etc. When bad things happens, those that aren't prepared have no back up plan and end up on the streets complaining about why life isn't fair.


Some people start side business. Some people invest heavily in stocks and investments. Others buy properties and rent them out. There are many ways to create income. But whatever it is, it is best to be able to benefit it in residual income or passive income. Short term, whatever this direction you wish to go with, make sure you will have an exit plan where you no longer have to be active to continue getting paid.


The worst thing someone can do is actually getting another job. You never trade time for money on your side project because that defeats the purpose. The purpose is to have more free time but more money. So whatever your plan is to do, it has to have an exit plan and yet continue to make money after you leave it alone.


Owning a business and once it is self-sustaining without you being there every single day is a good plan. It creates passive income. But what business? That's up to you to figure out. Some people do blogging, some do affiliate marketing, some join business opportunities, some open franchises, etc. Once it's stable, they get paid whether they show up or not.

Owning rentals also creates passive income but it requires money and good area to make money.

When it comes to investing your money in the Market, do not rely on your employer alone. You are going to have to go outside of your work place as well. You can either start learning how to invest your money or hire someone to do it for you. Best you learn it yourself. No one is going to care about your money more than you.
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Old 05-11-2018, 11:13 AM
 
2,408 posts, read 2,142,339 times
Reputation: 6563
Two things came across my mind after reading the OP.

1. A certified pharm tech only makes $13 per hour? Really?

2. You're young, so the best asset you have is time. Learn the power of compound interest.
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Old 05-12-2018, 04:51 AM
 
Location: Gettysburg, PA
1,697 posts, read 1,756,485 times
Reputation: 3276
Quote:
Originally Posted by Axxlrod View Post

1. A certified pharm tech only makes $13 per hour? Really?
Yes. I'm a pharmacist and it sucks that most major retailers do not pay much more than that (if even that. That would be a great pay rate for a tech where I work). He may be able to find higher pay rate with independent pharmacies or possibly at a hospital (not sure what the going rate is for that branch of pharmacy, but historically hospitals paid their techs more than the average rate and their pharmacists less than average. That was like around 15 years ago, so things may have changed since then).

Corporate retail pharmacies are just out to make money so whatever the least amount they can get by with for paying their techs--which are REALLY vital to the pharmacists--that's what they pay. Like I said it just sucks because us pharmacists really rely on our techs for all the non-pharmacist stuff (especially insurance and filling scripts), so the low pay makes for huge turnover and that leads to possible mistakes. Corporations suck. Especially large ones. They don't care about their customer's lives, just the bottom line.

Quote:
Originally Posted by doodlemagic View Post
Not sure what tech work you were doing for $13 per hour, but you weren't maximizing your earning potential. Most english speaking, USA based programmers, coders, web developers are earning 3x to 6x that amount, so maybe something you should consider going back into. Again with some tech knowledge rather than freelancing you could potentially be creating your own business, blog, website whatever that bringsin passive income rather than working for someone else for peanuts.
Pharmacy tech work is way different than computer tech work. $13/hr is not bad for most retail pharmacies (independents may pay a little more [they actually care about their customers!]); not sure about hospital tech work. That may be a bit low.


For the OP, are you able to do any garden work? I'm starting my own garden business and with the current trend for home-grown vegetables (at least around here there is), you may be able to set up your own farm stand by your house and get some extra income there. Or even join a farmers market one or two days a week in the summer. If you've never tried growing plants, try them under a grow light. You'll be amazed at the difference. And for outdoor growing, raised beds are all you need. The soil you add in them with the right amendments often make growing vegetables so much easier than using your natural soil.

Last edited by Basiliximab; 05-12-2018 at 04:59 AM..
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Old 05-12-2018, 11:09 PM
 
Location: Tennessee at last!
1,886 posts, read 2,334,902 times
Reputation: 3831
I know you kind of shot down tutoring already, but really it could be worth it, maybe not at a high price per hour, per kid, but maybe for a group of kids. Like a homework hour club for 5 kids at a time at $10 an hour?

Or children's birthday party planner?

Or a few Saturday special learning 'day camps' on specific topics kids are interested in. Dinosaurs, learn about them, make a model, learn where their fossils are at in the US--where they lived, etc. or Art based on media--e.g. clay, water painting or a holiday theme--make your own Christmas gifts or holiday cards with stamping, etc.. You can run the day camps for 4 hours at a time for a month and each month have 2 themes, a morning theme and an afternoon theme...or two different ages. The idea is to keep it cheap per kid, but have a few dozen kids and a helper.

Maybe help do the bulletin boards for older teachers. As a high school kid I did my mom's and Aunt's boards a few times a year, and several of the older teachers asked me to do their boards. It took them time they did not have, but also they were afraid of falling off a chair when stapling up the trim. Plus I did seasonal trim--cutting out colorful leaves in the fall, snowflakes in the winter, etc. for the trim and they liked that for a change.
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Old 05-14-2018, 08:05 AM
 
Location: All Over
4,004 posts, read 4,970,637 times
Reputation: 3104
Quote:
Originally Posted by Axxlrod View Post
Two things came across my mind after reading the OP.

1. A certified pharm tech only makes $13 per hour? Really?

2. You're young, so the best asset you have is time. Learn the power of compound interest.
You would think a job like this with some responsibility and in many ways a very important job ie giving people the right medication and not stealing medication would be paid better. I always see these become a pharmacy tech commercials and its' very sad they sucker young and often disadvantaged people into paying for an expensive program thats going to land them a job that doesn't pay much more than min wage.
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Old 05-18-2018, 02:17 PM
 
160 posts, read 257,053 times
Reputation: 212
How about coach or referee a sport ? Reffing school soccer games at 3:30 or 4:00, after school is over, is a nice way to get some fresh air and make some decent side cash. You can do club games on weekends for a little bit less money, but they pay cash on the field. I've done it for years, and I love the extra cash and the exercise. And I've met plenty of people that referee multiple sports, so they always have side income.
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Old 05-18-2018, 09:05 PM
 
4,769 posts, read 6,470,169 times
Reputation: 6075
I've told this story here before but..

My cousin and her husband borrowed $2,000 from my aunt and uncle to buy equipment to start a hood cleaning business. The hoods above stoves in restaurants. He basically went door to door offering to clean hoods after closing hours.

Today, about 15 yrs later, she does the books and is a stay at home mom. And he pays multiple crews to do the dirty work while he's some sort of a professional all natural body builder.
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Old 05-24-2018, 08:51 PM
 
Location: North Central Florida
784 posts, read 427,306 times
Reputation: 1030
Mow grass. The investment is not that much. Once you get a customer, you get the neighbors if you work at it. If you do more services, you get paid more./ Snowplowing., landscaping, leaf cleanups, roto-tilling. Even Handyman stuff you can do.

Lot of business write-offs.

Just remember, no one gives you a 1099 or a W2. You are on the honor system in regards to your income and must report it and pay taxes.

You can probably plan on $60 per hour plus.
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Old 05-27-2018, 02:08 PM
Status: "Third Year School Teacher" (set 24 days ago)
 
Location: Shreveport, LA
1,431 posts, read 1,131,168 times
Reputation: 770
Quote:
Originally Posted by lae60 View Post
I know you kind of shot down tutoring already, but really it could be worth it, maybe not at a high price per hour, per kid, but maybe for a group of kids. Like a homework hour club for 5 kids at a time at $10 an hour?

Or children's birthday party planner?

Or a few Saturday special learning 'day camps' on specific topics kids are interested in. Dinosaurs, learn about them, make a model, learn where their fossils are at in the US--where they lived, etc. or Art based on media--e.g. clay, water painting or a holiday theme--make your own Christmas gifts or holiday cards with stamping, etc.. You can run the day camps for 4 hours at a time for a month and each month have 2 themes, a morning theme and an afternoon theme...or two different ages. The idea is to keep it cheap per kid, but have a few dozen kids and a helper.

Maybe help do the bulletin boards for older teachers. As a high school kid I did my mom's and Aunt's boards a few times a year, and several of the older teachers asked me to do their boards. It took them time they did not have, but also they were afraid of falling off a chair when stapling up the trim. Plus I did seasonal trim--cutting out colorful leaves in the fall, snowflakes in the winter, etc. for the trim and they liked that for a change.
Tutoring is fine. I was more shooting down real estate. I might actually do something along the lines of what you suggesting. My mother was a teacher, too, and she did ACT prep tutoring. Of course, she was general eductaion and I’m mild/moderate special education, but I can probably get tips from her on that.

This job has a pension AND a 403b. Is a 403b like a 401k?
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Old 05-27-2018, 02:09 PM
Status: "Third Year School Teacher" (set 24 days ago)
 
Location: Shreveport, LA
1,431 posts, read 1,131,168 times
Reputation: 770
Quote:
Originally Posted by geo123 View Post
How about coach or referee a sport ? Reffing school soccer games at 3:30 or 4:00, after school is over, is a nice way to get some fresh air and make some decent side cash. You can do club games on weekends for a little bit less money, but they pay cash on the field. I've done it for years, and I love the extra cash and the exercise. And I've met plenty of people that referee multiple sports, so they always have side income.
Another good option. My best sport is bowling, but I could do baseball, too.
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