The Importance of Having a Business Mindset

Right now the base salary is $161,693. That's not another like 50 grand on top of it that we're getting from all of our rotational pay,. Our PBA is trying to get higher pay because the city just got a good contract. "I was probably working 90 to 100 hours a week, plus if not more, just constantly on my phone"

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Episode notes

One of the best ways to boost your earning potential is with multiple income streams. With only so much time to dedicate to each stream, however, how do you maximize your total income without burning out? Today’s guest, Joe, is no stranger to the time constraints that come with managing multiple streams of income. With THREE promising income streams, he’s got his hands full!

At 22, Joe launched an online coaching business that earned almost $30K per month at its peak. Unfortunately, working 90–100 hours each week quickly took its toll on Joe, his relationships, and his overall well-being. Unsure of how to juggle his online business, nine-to-five, and latest endeavor—investing in real estate—Joe now finds himself at a crossroads. Which avenues should he pursue going forward? Which income streams offer the highest earning potential? Which options afford him the most schedule flexibility?

In this episode of the BiggerPockets Money podcast, you’ll get a full breakdown of Joe’s monthly income and expenses, as well as a glimpse of some of his long-term financial goals—including how he plans to revamp his online business, make real estate his next side hustle, and retire early. With help from Mindy and guest co-host Kyle Mast, Joe weighs the pros and cons of each income stream and gets a clearer vision of how to optimize his total income going forward!

In This Episode We Cover

Maximizing your earning potential without sacrificing work-life balance

How to avoid burnout when scaling a profitable side hustle

The importance of time management when you have multiple income streams

What you need to know before you start investing in real estate

How to use other income streams to fund your real estate investments

What it really takes to retire early in your 40s

And So Much More!

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