In today's episode, Cody and Justin bring you a true expert of the gig economy and side hustles. The great Kevin from Financial Panther. If you’re unfamiliar with the gig economy or side hustles, think Uber, Wag, or Air BnB. Kevin has used all of these new apps to bring in $1-3k per month on a very consistent basis.

Oh and don’t forget he does this while also being a lawyer. While a lot of lawyers might think it is beneath them to deliver food to college kids, Kevin sees it as a powerful tool to expedite his path to financial independence.

The other important part of this interview is how Kevin explains the ways to do these side hustles without stretching yourself too thin. We try to always stress the importance of enjoying this financial independence journey and not just rushing through it. He stresses finding ways to incorporate these side hustles into activities that you’d be doing anyway.

Own a dog? How much harder is it at that point to watch a second one for a night?
Workout? Why not jump on a real bike for a delivery instead of a stationary one?

These are examples of some nuggets we got from today’s show. Hope you enjoy it as much as we did!
Episode Summary

Kevin’s parents paid for his college and he didn’t even consider the financial implications of his college choice or major
Graduated in 2009 in the thick of the great recession when there were no jobs available
Took LSAT and decided on law school to follow up on his history/economics undergrad.
Received a 50% scholarship for law school but still came out with $87k in student debt
Continues living like a student after landing a lawyer gig to pay off debt as fast as possible
Discovers the Financial Independence movement 1 year into debt payoff
Was inspired by financial samurai, Mr. Money Mustache, and Dave Ramsey
Paid off his $87k in loans in just 2.5 years while working at a big high-paying law firm
Started side hustling in 2015 while still earning big lawyer money
Some side hustles include Uber eats, Wag, Rover, Bird, Air BnB, and Lime
He changes to a government job that came with a 50% pay cut and a little extra flexibility
Takes another pay cut to work for a non-profit that came with a great deal of flexibility
He talks about incorporating gig economy jobs into his normal day routine
For him, side hustles that involve driving his car came with the least return on investment
Kevin makes somewhere between $1-3k per month on side hustles
He even makes money on dumpster finds
He equates the gig economy as a pseudo emergency fund
Has ambitions to step away from working to blog full time
Kevin makes a great comparison that $10k in side hustles is equivalent to $250k in investments for those that follow the 4% rule

Key Takeaways

Your income isn’t everything. Kevin shows that by not taking one but two pay-cuts to add in flexibility. It means he's not only happier but also has more time to pursue outside passions that could very well become more and more profitable. 
There’s money everywhere. He found money in the trash! Just actually just furnished most of his home from free craigslist items that he could have sold if he wanted too. Kevin does it all though. Deliver food, walk dogs, rent rooms, and more. The beautiful thing is that you don't have to do much of the legwork. The jobs are waiting for you, so what are you waiting for?
You might be closer to retirement than you think. Our favorite insight with this interview was the idea that $10k in side hustles is equal to $250k in investments if you're following the 4% rule. That means you could be a lot closer to at least taking some time off if not actually retiring by picking up some side gigs!

Call to Action

Analyze your daily routine and find something you can do to make that $5k per year!
That’s only $13.70 per day


Side Hustles Mentioned

Uber
Lyft
Rover
Wag
Bird
Lime
Airbnb
UberEats