Investing: The Most Lucrative Side Hustle You’ll Find
Between people working from home more and the world becoming more interconnected thanks to technology, the side hustle is more common than ever before. A simple Google search of “side hustle” results in lengthy lists filled with hundreds of ideas.
You can stop looking at those lists now.
I promise you, if a lucrative, non-time sucking side hustle is what you are seeking, then you need to look no further than investing.
Don’t believe me? Read on to discover exactly why it beats every other side hustle, hands down.
There’s a reason no one buys a yacht from their Uber driving earnings, but the sky’s the limit with investing!
Investing Is Not Connected to Time
A lot of side hustles sound amazing, if you have all the time in the world, don’t work a full-time job, or value your free time. So many opportunities have high earning potential, but only if you are actively working.
Driving an Uber or Lyft, delivering for Postmates or DoorDash, completing tasks on TaskRabbit or cleaning houses, dog walking, babysitting, detailing cars, pet grooming, personal training, teaching music lessons…every single one of those has earning potential, but they are directly connected to the amount of time you put in.
With investing, you are earning money all the time. When I was sipping mimosas in Mexico, I was earning. Something that wouldn’t have been possible with any of the above opportunities.
Investing Doesn’t Require Specialized Skills
A lot of people work side gigs utilizing skills sets they have such as social media, writing, graphic design, virtual assisting, bookkeeping, or programming. However, if you don’t have those skill sets, your earnings will be pretty minimal and your clients unsatisfied.
You also have to spend time finding clients and balancing client happiness so it can be a challenging, exhausting way to make money. Plus, a lot of platforms where people find these opportunities such as Fivver, 99 Designs, and Upwork, you are also competing against professionals in markets with a significantly lower cost of living and earning requirements such as the Philippines.
Even selling handmade products on Etsy or Amazon Handmade requires skill, time, investment in materials, and dealing with shipping.
There are no special skills that it takes to invest, simply a desire and quality education (no Harvard MBA required though, check out our Wealth Demystified Community and Program to learn everything you need to know).
Investing Doesn’t Take Years To See Revenue
One side hustle opportunity that holds the dreamy promise of hands-off income is creating and capitalizing on digital content like a blog, online course, or writing an e-book. While there are situations where these do earn money, they often supplement already established businesses or part of someone’s full-time focus.
Creating a profitable blog takes years to build passive income and only a small portion of them ever earn any income. Not to mention it requires skillful writing and a major time commitment to see one make any money.
Most investors, even brand new ones, start to see their money work for them and passive income starts to build right away with minimal time spent creating, marketing, and monetizing content.
Investing Doesn’t Require You To Annoy Your Family and Friends
Sorry MLM/Affiliate Marketers, but investing is in fact a much better side hustle than selling products, no matter how great those products may be. Selling for a multi-level marketing company requires purchasing inventory and in order to make money, you have to recruit people to join under you.
There’s an entire podcast, The Dream, focused on the empty promise of a wealthy future that MLMs tout. There are a handful of successes at each MLM company, but those are few and far.
Investing may require an investment, but not in inventory and you certainly don’t have to have your friends and family invest in the same things as you in order to see a profit.
Investing Doesn’t Dry Up
While we are on the subject of inventory, a popular side hustle is to sell stuff you or others already own. I’m a big fan of selling stuff I don’t need or love any longer. It clears out your space and provides an influx of cash, however, it’s limited.
You can’t bank a long-term side hustle on selling your stuff or eventually, you’ll be sitting on the floor regretting the couple hundred bucks you made from selling your couch.
There’s always unlimited opportunity when you invest, so consider selling some things to get started and clean house, but don’t make it your entire side hustle.
Investing Doesn’t Ruin Your Stuff
The normalization of a sharing economy has led to a lot of people using assets to generate money, like renting a spare room on Airbnb, renting your car on Turo, or your camper on RVShare. While these can create an ongoing income stream, they also involve inviting strangers into your personal space, potentially getting your stuff ruined or wrecked, and almost continuously dealing with guest issues, questions, and requests.
When you invest, you don’t have to part with your guest room, car, or RV to see the money come in!
Investing Isn’t Gross or Uncomfortable
This is where I’m going to talk about all the strange ways people make side money. There’s cuddling (yes, I’m serious). Or donating eggs, sperm, hair, or plasma. I’ll let this category speak for itself, but it’s a no brainer that investing is much better than having your blood removed to harvest its plasma every couple of weeks.
Investing Doesn’t Spam You
There are some unique side hustle opportunities like mystery shopping and taking online surveys. These opportunities present themselves as easy and lucrative ways to get money, but unless you are a seasoned pro, most opportunities are just going to fill your email inbox with junk like $1 for a 20-minute survey or a $10 mystery shopping gig that takes hours to fully complete.
The point of a side hustle is to earn money outside of your full-time job. Sometimes they involve things you are deeply passionate about, so if you are fueled by a passion to start an Etsy shop or write an e-book, then I still encourage you to do that (even better, do that AND invest the extra funds you make to further grow your wealth).
Investing gives you the ability to make your money work for you, something that no other side hustle provides. It also can provide major income, not just a few extra dollars a month.
Still not certain investing is the side hustle for you? Check out my free masterclass on investing to help you decide!