Side Hustles 101 - Risk vs Reward

When I write, my goal is not only to express myself but to motivate others that it is not that difficult to invest IN yourself, FOR yourself and for your future. There are examples everyday, similar to General Motors, that company's are willing to do whatever it takes to bring their costs down and that includes recent layoffs to the tune of roughly 14,000 people. Now being an urban economist I remind people it's the game, the hustle, and it will always be that way why???...because it's called "supply" and "demand". Now I'm not much of a math guy BUT: Less demand means less cars = layoffs.

It reminded me of my winters in Chicago and trying to make the train on time.  It just never happened! And of course I need a list of things to blame: why did it have to snow, why are there bad drivers, why is every light red, why did I wear dress shoes that day, why is the train on time, and why isn't someone who sees me on the damn train telling the conductor to wait. So over time (trust me a over a long period of time), I learned to be more aware of my surroundings. Back then, I begin taking my computer home AND when I have one of those potential day horrible snow days...I stopped running to the train and stayed at home... logged in, messaged my team at work, and worked remotely.

It was so simple I kept wondering why I didn't do it sooner. This is how I view side hustles like investing. You can keep doing what everyone else is doing...OR you can unplug, be more aware, better your life and be prepared for the snowy days of life. I often used to joke with people many years ago that soon I would be going to work for the extra income it provided. Note, the key word being extra...supplemental...in addition to. Get yourself a side hustle because while there is blame to go around...I tell people to stop running after the train.

Side Hustle 101
I don't knock any side hustles, gigs, hacks (or whatever slick name people want to call it today) but I do remind people it should have a decent risk/reward trade-off and you should be super conscious of your time. Because the most important commodity in life is ironically your time. Many years ago, when I understood this basic principle, I purposely chose investing. It doesn't take much of my time...I think...and the rewards are pretty good and it's not even something I do full time. But investing has allow me to prepare for the snow day, the blizzard, and anything life throws my way. For me, Side Hustling = Freedom Insurance, many fear the knock on the door...I prefer to yell "I'm Busy at The Moment".

 Myth Busting - I've learned recently that people view some of the things I do are RISKY. The FUNNIEST thing is that I view myself as one of the most risk-adverse person(s) out there.  My profession confirms this theory.  I stay risk adverse because I learned early on that to actually make money to have to be a really good steward of money. Don't take huge ridiculous risks and wait for opportunities that are in your favor. I have learned this from Wall Street, Hip-Hop, and Corporate America...3 very similar industries that recognize one simple rule: BIG BANK TAKE LITTLE BANK. I wait for situations where I have a great chance to win...and then I invest or buy on my terms. This is one reason why I taught myself to play poker. I hate the game because I'm scared to lose money but oddly the principles of poker are amazing at teaching you patience needed to invest. I learned most people just want to play every hand and get in on the action. The greats ones often sit and wait for the right odds.

 And I can't leave without a little stock update. Since we are on the topic of Risk vs Reward, hopefully you recall my write up of Radisys: Radisys Risk vs Reward

Radisys Update:  My update today is Radisys just announced the government approved its merger with Reliance JIO and the acquisition date will be December 7. Go back and read my write-up on August 1st and for those of you that did enjoy that 15%+ gain in 3 months. I liked the trade so much I bought it in my personal account, my retirement account and sent a text to anyone that would listen.

How I Slay Life, One Hack at a Time…

Hello everyone! If you have ever read one of my posts you know I often write about the 4 Pillars of maintaining a strong balanced core to your life.  The purpose of a strong core is staying Physically, Financially, Mentally, and Spiritually fit.  I like “fit”, “woke” will do, and if you enjoyed the movie series “The Matrix”, try “unplugged from the matrix”.  Many of us claim we are woke but I’m not always so sure. Why?? Because life is constantly throwing things at us to weaken our core (e.g., tough jobs, debt, car issues, risk, etc.).  Then, there are self-inflicted things keeping us from truly being unplugged, fit, or woke: Procrastination and Lack of Accountability.

I joke that “The Matrix” is like the mainstream machine to get you to always consume, constantly share (reality TV style), and amazingly disregard facts and reason in lieu of opinions. Let’s take a look:

Need to Consume:

Every day is now a “National Day” to consume. Let’s see how many I can rattle off in seconds: Valentine’s, Halloween, Thanksgiving (which is really Black Friday…extended to Cyber Monday), Amazon Day, Christmas, and Alibaba even has Single’s Day (a made up event).  Goal: We help the Matrix break their sales record, while they help you break your wallet.  And it accomplishes one other key thing…it helps keep everyone hooked into the Matrix. Your friends, family, kids, spouse, co-workers, neighbors all try to outspend, over decorate, and stress over all of it. 

Ready for change, try these hacks:

Urbanomics Hack of the Century – I epically took down the need consume by setting a budget. This cool hack forces me to plan for things. Built into that budget is a buffer. Yes, for all those amazing “National” taco, donut, bosses, kids, and pet days.  Once I get to my budget limit, I stop. So commercials, spam emails, and all those amazing deals in the mail just don’t faze me because I slay them all with a few words: “Not In My Budget”.

How to Slay Digital Anxiety – My longtime hack of the digital era is a few cool things that most have not heard of. I simply do not take my phone most places. It has a really cool feature called voice mail. Next, I realized every beep is not so I initiated an premium upgrade (hackers special) that does not require me to respond to everything instantly.  I (whips the upgrade) pick moments during the day when I thumb through my texts, alerts, vmail, and e-mail and respond accordingly.

Epic Takedown of Apps – To truly stay woke, fit, and unplugged I eviscerate all mobile apps. Yes, I throw shade on every app, no exceptions. I simply do a few things that keep my life simple and focused.  I do not download apps unless there is an extreme necessity. For example, when I switched phones recently I did not add an app until a dire situation presents itself. It is strange to see all those lonely apps still waiting to be downloaded, but I’ll pass. And you’ll love this ultimate hack: I’ve never downloaded Facebook, LinkedIn, Snapchat, Instagram…whoever.  Two reasons: By forcing myself to login directly, I limit my screen time.  I’ll conclude my article with the 2^nd reason: I’m the product.  Whenever someone allows you to use something for free, WE are the “product”.  Which means The Matrix is getting way more value out of it than we are.  I recall from my educational binge watching of “Mad Men” that advertising companies are paid to know your age, preferences, views, and buying habits.  When the companies above finally decide to pay me accordingly for the information I provide them maybe I’ll download their app or use it more. I don’t need them…they need m and we just need to negotiate what I’m worth. Ironically, I have always kept a contact history, used job boards, and saved my photos through different methods over the years. It had me thinking back when peopled used rolodexes if they people were addicted to flipping through it and liking things. Or if they did the rationale thing…picked up the phone and had conversation, planned a trip, or closed it and had fun.  

Full disclaimer: I've invested in Facebook, Snapchat and Twitter multiple times this year. (Note: LinkedIn is owned by Microsoft and Instagram is owned by Facebook). I would be a FOOL to deny the mainstream draw to these platforms but I wonder about the unintended consequences. I'm sporadically only on FB and LI and try to disclose as little as possible. And until the model is figured out (note: regulation is coming soon), I'll gladly find ways to make money off of these platforms, while their users (who should be called talent or broadcasters) give their worth away for free.  And because I mainly post about investments, I don't think Snap, owner of Snapchat, is a good investment long term because I don't know what they do. Ads alienate their users and I would pick up the phone if I really wanted my message to disappear.

Facebook: Internet Rolodex

LinkedIn – Job Board / Staffing Agency

Snapchat - ???

Twitter - News?

Instagram – Hard Drive for Pics