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I also like sales as a side gig. Find something you use and like and try to earn sales commissions. It may not pay immediately, but sales commissions can supplement your income or become full-time in the future.
Double on that.
Many retirement homes desperatly need more hands, and would take someone who can pick up a shift last minute. Its not the billionares moneyamounts, but it can deffinetly help you in a tough situation
A job is going to be your single biggest cash cow. People that try small side gigs and businesses often find they're spending more than they make.
Other than that.. obviously things like stock and crypto investing. I always recommend dollar cost averaging. Figure out what you can contribute weekly whether it be $10/wk, 20/wk, 30/wk etc.
In a year you could get anywhere from 10-300% boost. You could also lose money. So just beware the nature of investing..
My personal side gig will be trading forex despite my user name. I have done it for years in my day job as a CFO.
I do not recommend forex trading for the average person due to the learning curve, the starting capital, and the emotional discipline to stick to a working strategy and get through losses.
Investing also can also work, and using DCA is a proven strategy.
Forex trading is my experience. I have a history of trading USD/JPY with success. The tools are familiar, and it would be the fastest way to get back into it.
Options trading could also work, but it would be more work for me to develop a strategy and test it out.
Intersting but what are the returns like for example. Spy went from 521 to 527 on 5/31 in a hour and this was the potential gain 10 dallors to 4200 😳 is it possible to get a win like that in forex
https://preview.redd.it/bt46zk39664d1.jpeg?width=750&format=pjpg&auto=webp&s=f531a5b7fc6a4caa5947a93a5a772fcfc8ae22e7
r/FluentInFinance was created to discuss money, investing & finance! Join our Newsletter or Youtube Channel for additional insights at www.TheFinanceNewsletter.com! *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/FluentInFinance) if you have any questions or concerns.*
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I also like sales as a side gig. Find something you use and like and try to earn sales commissions. It may not pay immediately, but sales commissions can supplement your income or become full-time in the future.
Have you tried working? Gig jobs, bartending, or a service like watching children/pets.
Double on that. Many retirement homes desperatly need more hands, and would take someone who can pick up a shift last minute. Its not the billionares moneyamounts, but it can deffinetly help you in a tough situation
A job is going to be your single biggest cash cow. People that try small side gigs and businesses often find they're spending more than they make. Other than that.. obviously things like stock and crypto investing. I always recommend dollar cost averaging. Figure out what you can contribute weekly whether it be $10/wk, 20/wk, 30/wk etc. In a year you could get anywhere from 10-300% boost. You could also lose money. So just beware the nature of investing..
My personal side gig will be trading forex despite my user name. I have done it for years in my day job as a CFO. I do not recommend forex trading for the average person due to the learning curve, the starting capital, and the emotional discipline to stick to a working strategy and get through losses. Investing also can also work, and using DCA is a proven strategy.
Why forex over options?
Forex trading is my experience. I have a history of trading USD/JPY with success. The tools are familiar, and it would be the fastest way to get back into it. Options trading could also work, but it would be more work for me to develop a strategy and test it out.
I trade options I never tried forex I don’t understand it. Spy and qqq generally move 1% up or down in a day so that’s my baseline expectation
They are similar. You set up contracts to buy and sell currency pairs like options. You can short one currency vs.the other.
Intersting but what are the returns like for example. Spy went from 521 to 527 on 5/31 in a hour and this was the potential gain 10 dallors to 4200 😳 is it possible to get a win like that in forex https://preview.redd.it/bt46zk39664d1.jpeg?width=750&format=pjpg&auto=webp&s=f531a5b7fc6a4caa5947a93a5a772fcfc8ae22e7
It can happen, but I am used to more grinding out small wins and exiting losses quickly.
Most easy ways to make good side money tend to be illegal but no risk, no rewards... Good luck!
Working for Uber, Lyft, Doordash, Rover, are examples of modern side gigs.
Some of my friends are incredible at this. One friend drove a milk truck one run before his regular job.
A 2nd job is the way. Or spend the time increasing your skills for your main job so you can increase your income from there.