Getting boring at 9-5 routine office works? Wanting to quit your job due to stress at works? It is very common phenomenon for almost every employee in the job market, and typically it happens 2 to 3 years after you joined the work force, regardless if this is your first job, second, or third job.
I, too, go through such viscous cycle being >10 years in employment. When such feeling develops, I will start exploring side hustles, for few reasons. First, distract myself from the stressful routine works. Second, look for alternative funnel where I can earn passive income from, in a hope that I can eventually escape from the rat race and FIRE!
There are so many instrument I have involved myself into over the years, such as digital marketing, setting physical and virtual shops, Forex trading, stock investing, cryptocurrency mining and speculation, and index ETF DCA (dollar-cost-averaging). Many of which are waste of time and money, nonetheless they did open my eyes and shaped my risk appetite. All in all, it is painful to spend so much money and time into such activities, but let’s look at them as investment cost, so that I feel better 🙂
DCA into Index ETF is the main side hustle / passive income generator I am focusing on since last year, and will continue investing on a consistent basis for the next 10-20 years at the minimum. It doesn’t require much of my energy / time, what I need to do is to buy certain index ETF by end of the month without looking at its price (it is not as easy as it seems if you’re investing >1,000 USD a month). I am doing this via few channels, ie. Stashaway using SRS funds and IB (Interactive Brokers) using cash, not for diversification purpose, but to fully utilize the spare money in my SRS funds invested few years ago.
In recent months, I have came across few more side hustles such as Youtube channel marketing, dropshipping via Shopify and AliExpress, print to demand, and Option trading. They are all interesting concepts for me, unfortunately the market are saturated and over supply (except Option trading). Without an enormous amount of time and effort are invested for at least a few months, they couldn’t not provide a sustainable stream of passive income everyone dreams of.
Nevertheless, option trading is very interesting to me, particularly at selling cash-secured put (get your stocks at preferred strike price, while collecting premium) and selling covered call (collect premium in exchange of the obligation to sell your stock at strike price). I am requesting trading permission for option trading in my IB account, and eyeing at some quality US stocks for option trading. My primary strategy is to collect premiums to boost my ROI (return on investment) without taking exorbitant risk
What is your favorite side hustles and if you have achieved any success in generate passive income from them? Please share your view so that I can learn from you 🙂
Journey to Financial Independence 