Do you have a strategic side hustle?
Hosts Kim Ann Curtin, Stephen Johnson, and Tim Bohen tackle the importance of a great side hustle — or two. And how it can make you a better trader.
Many traders start with the desire to trade full-time and quit their day jobs. But they don’t think about keeping a side hustle.
Stephen and Tim both swear by the side hustle lifestyle. They say it makes them more confident traders. When you don’t need a trade to succeed to feed yourself and put a roof over your head, you can trade with a clearer mind.
Kim’s all for the side hustle mentality. She gets into the psychology of having multiple sources of income. And why diversifying your work helps you make smarter choices. Hear the gang’s tips and strategies in this week’s episode…
Modern Life Is Ideal for Side Hustles
Bohen’s amazed by the opportunities available to traders these days. If you want to trade as a side hustle, there are many tools out there … Mobile apps, free brokerage accounts, unlimited access to information, and even crypto.
Stephen agrees. He says all these tools make it possible for traders to become digital nomads — and reduce their overhead in the process. He, himself, has been eyeing coworking spaces and rentals abroad in Bali, Indonesia…
Kim can’t believe the cost of living in that region. She spent a big chunk of her career in New York City, and the price to rent anything there comes at a premium.
Find out how many side hustles Stephen has and how they’ve shaped him into a consistently profitable trader.*
Side Hustles Take Time to Succeed
Stephen says you likely won’t be profitable right away. Like any venture, side hustles require hard work. He shares how many years it took him to find success in trading…
Kim agrees. She reminds people not to compare themselves to others. Everyone’s journey is unique, and so is their timeline. She shares a story about what helped one TikToker finally succeed after many years of trying.
Bohen recognizes that some people aren’t financially ready to trade right away. He wasn’t fully ready when he started either. And he shares a strategy for using payment plans to build your trading account over time.
Plus, Kim shares the story of a risk she took pitching herself to someone famous when she started her business.
Side Hustles Make You Well-Rounded
Kim’s all for having multiple side hustles. She thinks working in other industries keeps you informed and makes you a better trader. She recommends people read “Linchpin: Are You Indispensable?” by Seth Godin to learn how valuable that is.
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Bohen agrees. He’s impressed with Sean Flores’ artwork side hustle. And that he still shows up every morning on Bohen’s Pre-Market Prep.
Stephen mentions that even big-time traders like Bryce Tuohey and Matt Monaco keep side hustles going because they never know if they’ll have a dry streak or the market will slow.
Plus, find out the formula he uses to invest as much time in himself as he does in his employer’s future…
What Do You Think?
Do you have a side hustle — or a few? How does having another source of income affect your trading? Do you want to be a full-time trader?
We love to hear what you think, so drop a comment.
Remember: if we select your question or comment as an on-air topic, you could win a SteadyTrade mystery gift box. Leave a comment below or on YouTube!
Thanks for tuning in to the SteadyTrade podcast. Stay tuned for weekly episodes featuring the hottest topics for aspiring traders.
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Stout, Lynn A., The Shareholder Value Myth: How Putting Shareholders First Harms Investors, Corporations, and the Public, Berrett-Koehler Publishers, First Edition, 2012.
Meet Our SteadyTrade Hosts
Get to know Tim Bohen, Stephen Johnson, and Kim Ann Curtin.
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Kim Ann Curtin
*Please note that any reported trading results are not typical. Most traders lose money. It takes years of dedication, hard work, and discipline to learn how to trade, and individual results will vary. Trading is inherently risky. Before making any trades, remember to do your due diligence and never risk more than you can afford to lose.