Considering A Second Job?

[Tommy_Dolitte]

I've been contemplating getting a second job.  Would like to make $5 - $10 K on the side.  This would effectively take care of my living expenses.

Thoughts on this strategy?  Anyone else doing this.  

TD

 

[JonnyM]

Take care of what expenses? You mean the expenses of participating in the second job. Well maybe just. Based on your soon to be joint incomes I expect after taxes you'd clear pretty much zip.

Seriously sounds like you have a great handle on saving your sheckles, why mess up your life by working yourself to death?

 

[Whakamole]

Two reasons I'd work weekends:

1. I was in debt up to my eyeballs and needed to pay it off ASAP.

2. It was my own business that either:

a. I really loved, and could skip when I wanted to just waste the weekend, or

b. I was building to be my future full-time business.

Is there any other reason?

 

[Tommy_Dolitte]

Thanks for the perspective guys....

Sometimes I over do it...

TD

 

[cute fuzzy bunny]

I worked three jobs for a year in my 20's to pay off debt and never take any on again after that.

It was kinda fun work though. I worked days as a programmer and sales support guy, nights at a hardware store, and 3rd shift on weekends at the 7-11.

That 3rd shift job was fun, but it sucked to work 9-5, then work 6-9 at the hardware store, then 12-8am at the 7-11 on fridays, then 3-9 at the hardware store and 12-8 at 7-11 on saturday night.

I was worn out after a year. But it was worth it.

 

[BigMoneyJim]

I've occasionally considered trying to do tech consulting on the side, but I like my free time way too much to have tried it yet.

I have this nagging feeling that I'll be better off in the mid and long term if I quit corporations and start my own business, and starting with a side gig might be a gateway to running my own business "full time" so I may consider that in the next year or two.

For a couple of months I worked full time and schooled full time. It was a new tech job and I was finishing my two year tech degree. It was a very, very hectic time and I do not wish to repeat it unless necessary.

 

[charlie]

I think it is a good idea to start any new business
venture as a sideline, if practical, before you cut the umbilical. Gives you a chance to learn the ropes and
make some contacts.

Cheers,

Charlie

 

[John Galt]

I made a lot more money in a lot less time once I went
totally out on my own. While I would like to think it was
because I'm a smart guy, I know much was the product of having 100% control and luck. With hindsight I can see some major blunders on major decisions. Still, I had a
solid business with good product and good customers.
This largely overcame any management errors on my part. That, plus I worked ungodly hours while I had my
own money totally at risk. Well, that's mostly true
although I was 100% leveraged when I bought the business in 1990. Bottom line. I was on my own completely from 1987 (got fired that year) until I semiretired
in 1993. Did I have a better 6 year period as far as
progress toward ER? Doubtful.

John Galt

 

[Beachbumz]

Tommy, remember that all this saving for an early retirement is great, but none of us are guaranteed tomorrow! So, you need to enjoy yourself some now too

 

[sgeeeee]

Hi Tommy,

I don't know if it's the same as taking on two jobs at the same time, but I was a very happy workaholic for several years. While I was working as an electrical engineer, I was also writing books in my spare time. And while I was teaching, I was also consulting. I also was very active in professional society activities during this period. I really enjoyed the work and the effort was rewarding financially -- probably more rewarding than working a second job in an unrelated field.

I'm not at all sorry that I was so committed. Like I said, I enjoyed it. But I have no desire to work like that today. Retirement is very satisfying now.