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.
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