Stop chasing side hustles. Do this instead.
Hey Future Millionaire,
"I am about to graduate from college. Do you have any tips for starting a side hustle to speed up my journey to financial independence?"
A young woman asked me this after my talk at the Financial Independence Ireland Meetup.
I answered her on the spot, but the question stuck with me.
So here’s my take.
Why side hustles are attractive
A side hustle sounds great for many reasons:
Extra Income – Who doesn’t want to make more money?
Financial Security – Multiple income streams can provide a safety net.
Passion Projects – Some want to monetise hobbies.
Entrepreneurial Spirit – Many see it as a step toward self-employment.
Status Symbol – It sounds cool to be juggling multiple projects.
My take: don't do it
I’ve coached 183 people on their finances. Three stood out:
Highest Net Worth: €1,900,000
Highest Monthly After-Tax Earnings: €16,500
Youngest Financially Independent Person: 35 years old
These three were completely different, but they had two things in common:
They didn’t know how much they had until I asked them to total it up.
They had no side hustles.
Instead, they found a well-paying career they could get good at. The money followed naturally.
Alex Hormozi's take
Yesterday, I heard Alex Hormozi on Steven Bartlett’s podcast. He said:
"It's an exercise in arrogance to assume that you doing three things is somehow going to beat someone who is doing one."
Alex Hormozi
If you spread yourself too thin, you’ll be great at nothing.
Last year, I had to decide for myself:
Keep climbing the corporate ladder and make great money as a sales leader?
Go all in on helping others achieve financial freedom?
I couldn’t do both well. I had to pick one.
My advice
Early in your career, don’t chase money alone - it’ll be a long and miserable road.
Instead:
Find a job you enjoy (that suck less than half the time).
Make sure people ahead of you are having fun and making good money.
Focus on adding value every single day.
Take ownership of your skills.
When things get tough, that’s when you build your money-making muscle.
The power of focus
Your career is an investment. Like any investment, results compound. Your skills, reputation, and earnings grow exponentially.
But every time you switch companies, careers, or directions, you reset that compounding.
Be mindful of that.
This week
This week was a blast. I had a great conversation with Michael for the Irish Fire Podcast. I’ve followed his journey for years, and chatting with him felt like catching up with an old friend.
That is it for this week. I wish you a fantastic valentines weekend!
To your financial freedom,
Sjoerd
P.S. What do you think of my new LinkedIn post style? I’ve switched from text-only to adding visuals, but results are mixed.
Would love your feedback - should I keep it or drop it?
