Side Hustle

The Solo 401k: The Side Hustler’s Bonus Retirement Account

Last Updated on January 22, 2018December 23, 2016 61 Comments
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One of the great benefits with starting up a side hustle is the ability to get paid as an independent contractor. When you consider all of the sweet benefits you get from side hustling, you have to assume that the government must want us to side hustle.

Take tax deductions, for example. The government lets you deduct expenses related to your side hustle for things you might already be doing anyway. With a little planning, someone driving for Uber in their spare time could easily offset the costs of driving that they’re already doing anyway.

Perhaps the most amazing thing that the government lets you do as a side hustler is to save money into extra retirement accounts that other people don’t have access to. Start up a side hustle and you can save some- or in some cases, almost all of your side income – into a Solo 401(k), a SEP-IRA, or a Simple IRA. Depending on how much you make and what type of retirement accounts you already have, you could potentially save thousands more per year in tax-advantaged savings.

November 2016 Side Hustle Report

Last Updated on December 12, 2016December 10, 2016 24 Comments
This post may contain affiliate links.Financial Panther has partnered with AwardWallet and CardRatings for our coverage of credit card products. Financial Panther, AwardWallet, and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.

Thanks for stopping by for another side hustle report! Sorry about putting this out a little later than usual. For those of you new to this, each month, I document what I earned doing various side hustles outside of my day job.

With the rise of the sharing and on-demand economy, it’s super easy to pick up a flexible side hustle. There’s literally never been a time in history where you could work in your spare time like you can today. The beauty of your side hustle income is that you can save every single dollar of it! Just think about what that can do for your savings rate…

Making Money With Airbnb: Why I Rent Out Our Guest Room

Last Updated on March 27, 2019December 7, 2016 39 Comments
This post may contain affiliate links.Financial Panther has partnered with AwardWallet and CardRatings for our coverage of credit card products. Financial Panther, AwardWallet, and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.

It never really occurred to me how much space in a typical house goes unused until Ms. FP and I moved back into her four bedroom house. As a renter, we never lived in an apartment bigger than 800 square feet or so. Our smallest apartment (where we found all of that sweet, sweet trash) was about 600 square feet. At the beginning of this year the two of us moved back into a 4 bedroom house that was double or triple the size of any apartment we’d ever lived in.

It seemed like a waste to have so much space for just two people. But we didn’t want to get roommates either. That’s when we decided to try out our hand at Airbnb…

Is It Possible To Make Over $50 Per Hour As A Bike Messenger?

Last Updated on October 31, 2018December 3, 2016 16 Comments
This post may contain affiliate links.Financial Panther has partnered with AwardWallet and CardRatings for our coverage of credit card products. Financial Panther, AwardWallet, and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.

Here at Financial Panther, we’re all about looking for weird money making opportunities. And if we can make a little bit of extra money while doing something we’re already doing, all the better! That’s why when I received the below email from Postmates, I immediately started figuring what I could do to snag that referral bonus.

As some of you already know, I’m a big fan of on-demand delivery services. I’ve written in a previous post about how I get paid to bike around town in my spare time using Postmates…

Give Yourself A Raise By Creating Your Own Overtime

Last Updated on November 20, 2016November 19, 2016 24 Comments
This post may contain affiliate links.Financial Panther has partnered with AwardWallet and CardRatings for our coverage of credit card products. Financial Panther, AwardWallet, and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.

I think most of us could use a little more money in our lives. The only problem is that earning more money isn’t always that easy or immediate. Raises are typically an annual thing and definitely not guaranteed. Bonuses are the same way. You could switch jobs to make more money, but that’s not always an option for everyone.

One surefire way to make some extra money is to get yourself some overtime hours. But, if you’re a white collar worker – like a lot of us are – you’re probably getting paid a salary. Even those of you who might be eligible for overtime probably can’t do so on a regular basis. Most organizations limit the amount of overtime that you can work.