Author Topic: Pick up a part-time to get to FI faster or use that time to pursue my dream?  (Read 856 times)

sizzlinkola

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One of my main reasons for pursuing FI is to have the financial freedom to start a company in the medical device industry.

Iím having a dilemma whether I should have a part-time job (ex. waiter, barista, Lyft driver, etc.) to get to FI faster or start a company now while I keep my day job.

I'd want the part-time job to still leave time and energy for my other hobbies (hiking, rock climbing, lifting and other fitness pursuits). My worry is that it will give up time that I could have used to start and develop a company, unless I sacrifice some or all my hobbies. I could juggle all the above but that will be exhausting. I work to live, not live to work.




thegeebees

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Caveat: I'm only a few months in to MMM, but I saw you had zero replies and wanted to toss in my response.
I've always looked at this as a "what phase are you in" question. For paying off debt, absolutely, I would take on the extra job. Once debt-free, I would take the spare time to work that side hustle. Like MM says, debt is an emergency.

MonkeyJenga

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Have you filled out a case study? There may be easier ways to cut time to FIRE than a side job, either by getting a raise in your day job, jumping companies, or cutting expenses. Lyft driver is probably not going to help that much, either. Pete tested out driving for Uber and found the hourly rate to be below min wage.

trollwithamustache

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you probably want a side hustle business type thing. If you can't write off business expenses against it, the marginal tax rate might be... un-motivating.