Side-hustles - what's yours and how do you make it work?

[sevoflurane]

iuu

While I am not calling BS on everything you post here, I find the claim of working 110 days a year and making 600K as a neurologist dubious at best. There are large swaths of this country where you can’t make 600k as an orthopod working 300 days a year. I know you can work in BFN like Sevo and make a killing but the rates for locums work and salaries in these areas are not as lucrative as they once were.

That works out to be $5500 a day, $38500 per week and $154,000 a month. 🧐

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[chocomorsel]

Clearly, the culture here in the anesthesia forum is cut-troath. I have never had my character questioned, especially among colleagues I stand by every statement I’ve made here.

I feel there is underlying issues here-
1. Some people can’t stand that a female, mother, physician is succeeding in the market and in real estate while they sit back sucking theirs thumb waiting for an opportunity.
2. Jealous

At any rate, checking out.

Woman, I invited you to this forum, but glad to see you go!! Take that ego somewhere else.
Maybe some of us just can't stand people constantly bragging about how smart/rich they are, all the damn time. You are doing too much.
You seem to have a chip on your shoulder and are trying to prove something.
I bet there are plenty of wealthy people on here who don't brag on and on like you. There's no need really.
Why do you feel the need to keep harping on it? And prove so much to a bunch of internet strangers?

 

[GassYous]

Clearly, the culture here in the anesthesia forum is cut-troath. I have never had my character questioned, especially among colleagues I stand by every statement I’ve made here.

I feel there is underlying issues here-
1. Some people can’t stand that a female, mother, physician is succeeding in the market and in real estate while they sit back sucking theirs thumb waiting for an opportunity.
2. Jealous

At any rate, checking out.

You're on the anesthesia forums. We are generally regarded as one of the nicest group of doctors around. We do pretty well for ourselves and don't begrudge anyone their success. I'm sure we have plenty of females, mothers and physicians here. Jealous? Maybe. But the numbers you post are pretty out of the ordinary which is why you face a lot of skepticism.

Also we are pretty well versed in finance and the prevailing thought is in support of index funds due to the risk of day trading. It is nothing against you personally.

 

[patriot6]

Woman, I invited you to this forum, but glad to see you go!! Take that ego somewhere else.
Maybe some of us just can't stand people constantly bragging about how smart/rich they are, all the damn time. You are doing too much.
You seem to have a chip on your shoulder and are trying to prove something.
I bet there are plenty of wealthy people on here who don't brag on and on like you. There's no need really.
Why do you feel the need to keep harping on it? And prove so much to a bunch of internet strangers?

Maybe I’m in the minority, but I actually enjoy her posting. Don’t run her off. I’d much rather see you leave this thread than her.

 

[chocomorsel]

Maybe I’m in the minority, but I actually enjoy her posting. Don’t run her off. I’d much rather see you leave this thread than her.

Well, keep wishing and praying. She is running herself off by doing way too much bragging and some people just aren't buying it.
Besides, who the hell told you I had the kind of power to run people off?

 

[pjl]

Clearly, the culture here in the anesthesia forum is cut-troath. I have never had my character questioned, especially among colleagues I stand by every statement I’ve made here.

I feel there is underlying issues here-
1. Some people can’t stand that a female, mother, physician is succeeding in the market and in real estate while they sit back sucking theirs thumb waiting for an opportunity.
2. Jealous

At any rate, checking out.

Please don’t tell me that I am annoyed about your successes because of your demographics.

I am glad you found a way to make good money.

I find your posts annoying because they are biased towards wins, but I am at least thankful that you post a few losses. I would like to hear the details of your losses with as much rigor as your gains. That said, it is my own fault for reading threads like these, and feel free to keep going with posts as others obviously like them.

 

[deleted697535]

I already bagged over $1 mil in under 10 months- took $600k out to fund a real estate project. I’ll let the chips fall where they fall.

FYI-some people like you are ok investing their ENTIRE career at 8%, to retire with 1 mil at 70. But I am sure that won’t be ye.

by the way, I am neurologist earning $600k a year. Even if the market tanks.....I’ll be ok.

Sounds like you got it made. More power to you...

$1mil profit in 10 months is 2x your gross yearly income in the year you have quoted. i doubt any neurologist makes 600k each and every year without back breaking levels of call/risk so thats unlikely sustainable. Remember we are only slow anesthesiologists and know little about anything esp money but there is google

on average, theres more $$ on our board than yours. And not many on here pull 600. So you are elite

If you make 25% per trade that means you have gambled close on 4million in 10 months. Thats 6.5 times a 600k yearly income pretax. After tax thats about 10x your yearly salary. Obviously no losses included in that. Because its not nice to talk about losses

If we include losses its probably 15 times your income.

 

[Arch Guillotti]

1. Some people can’t stand that a female, mother, physician is succeeding in the market and in real estate while they sit back sucking theirs thumb waiting for an opportunity.

Get woke. Nobody on this forum cares what your demographics are. Just ask "goldilocks".

 

[deleted697535]

Get woke. Nobody on this forum cares what your demographics are. Just ask "goldilocks".

You mean you cant pull the gender discrimination card on here? what kind of anonymous genderless internet forum is this?

 

[pgg]

Glad you're winning neurochica.

But where you're wrong is in saying anyone who wants to, can do it. By definition, day trading creates no value or wealth. It's a zero sum game, and for every winner like you there's a loser.

(Contrast with people who make money over the longer term, as stock owners share in actual profits earned by companies producing goods and services. Everyone can win that game, and everyone playing it HAS won over the last decade.)

Trading on short term price fluctuations is a zero sum game. Wealth extracted by a winner is wealth lost by a loser. And the great majority of the wealth extracted in this way goes to big players, institutional traders with information, access, tools that individuals don't have. And so the great majority of individuals are losers in this game.

The truth is that almost nobody can do what you've done, and almost nobody should expect to do it in the future. That you've had such success might mean you're the rare brilliant person who's done it with skill. That you think it's no big deal makes me think you don't actually understand the risks you've taken and you've just been lucky. (Or maybe you know you're exceptional and saying anyone can do it is just a weird attempt at modesty.)

The smartest thing you've said in this thread was that you took some profits out of the game and diversified into something else.

 

[anaesthetic]

.

 

[Destalchemy]

I don’t know why people would come here and lie about their work schedule, lifestyle or anything for that matter?

You Really Think Someone Would Do That? Just Go On the Internet and Tell Lies?

you crack me up lady

 

[IMGASMD]

Gamestonk!!!

 

[dhb]

Gamestonk!!!

Damn! I though the squeeze had squoze, from the information i could gather shorts had substancially reduced their position. So what's pushing the price higher?

 

[coffeebythelake]

Damn! I though the squeeze had squoze, from the information i could gather shorts had substancially reduced their position. So what's pushing the price higher?

conspiracy theories

 

[vector2]

Seems entirely too predictable that BTC (around 57.3k as of now as I buy puts on miners) is going to cup and break through to another all-time high past 58k. Lot of money is going to made depending on which way the tide breaks.

 

[anonperson]

My prediction:

Bitcoin will end up in the 75k to 100k range.
Ethereum seems likely to end up in the 3k to 4k range within the year.

 

[JOHNBROCHILL]

When Bitcoin and ETH rise other coins rise as well. If they truly are going to go that high and crypto bull market continues then there is money to be made and I bet we will see some cheaper coins 50x. We are still very early in crypto and I have started adding to my portfolio as long term holds.

 

[chocomorsel]

I just love how much I annoy so many of y'all. Can't stop, won' stop.
HAHA.

 

[okayplayer]

By the way, I hit a $1 million a few days ago. Good down payment for a small apartment complex.

@neurochica how is the day trading going?

Not being snarky at all, genuinely interested in your experience since we haven’t heard from you recently.

 

[PikminOC]

@neurochica how is the day trading going?

Not being snarky at all, genuinely interested in your experience since we haven’t heard from you recently.

Too busy making bank.

 

[PainDrain]

@neurochica how is the day trading going?

Not being snarky at all, genuinely interested in your experience since we haven’t heard from you recently.

A lot of people on here ragged on her but I think it was impressive what she was able to do. She put a lot of effort into it and managed to make it work, I think the snark was jealousy.

 

[Matthew9Thirtyfive]

A lot of people on here ragged on her but I think it was impressive what she was able to do. She put a lot of effort into it and managed to make it work, I think the snark was jealousy.

 

[pgg]

A lot of people on here ragged on her but I think it was impressive what she was able to do. She put a lot of effort into it and managed to make it work, I think the snark was jealousy.

I love hearing about forum members making huge gains with their investments, whether stocks or real estate or cryptocurrency. Truly.

I just get annoyed when they pretend it's risk free, and easy, and anyone can do it. Neurochica didn't fit that mold, but a lot of others do. When they say stupid things like that, it makes it harder to believe their (claimed) success came about because they were smart.

 

[GassYous]

A lot of people on here ragged on her but I think it was impressive what she was able to do. She put a lot of effort into it and managed to make it work, I think the snark was jealousy.

Nah that's just how we are. You should see how we treat the guys who post jobs here

 

[ProRealDoc]

Multifamily real estate.

 

[okayplayer]

Multifamily real estate.

Do you have a property manager that assists you or deal with problems yourself?

How have your returns on this compared to if you would have put the $ in S&P 500 fund instead?

I’m intrigued by this for sure. I have a partner who owns somewhere in the neighborhood of 200 apartment units (mostly through small partnerships where he owns 33% of this complex, 50% of this complex etc). They try to buy undervalued apartments that need to be renovated in order to extract some value (he has a partner who does the renovations).

 

[MirrorTodd]

My side hussle is GME baby. Power to the players.

 

[IMGASMD]

My side hussle is GME baby. Power to the players.

I am on board.

 

[sevo00]

AMC

 

[deleted126335]

Knowledge of financial history. We have a greater potential now for asset price loss than almost any time in history.
Stocks: brushing up on 2000 valuations (in the US).
Real Estate: Home prices/personal income are higher than the real estate bubble of 2007
Bonds: Infu(king sane. Much of the world sovereign debt is nominally negative. Much of the Junk bond market is negative in real terms assuming no losses.
Commodities still high.

 

[okayplayer]

Knowledge of financial history. We have a greater potential now for asset price loss than almost any time in history.
Stocks: brushing up on 2000 valuations (in the US).
Real Estate: Home prices/personal income are higher than the real estate bubble of 2007
Bonds: Infu(king sane. Much of the world sovereign debt is nominally negative. Much of the Junk bond market is negative in real terms assuming no losses.
Commodities still high.

All true but in what way is this knowledge actionable?

I keep buying 25% international equities per my Investor Policy Statement. They would seem a better buy than domestic equities based on P/E ratio, but continue to underperform month after month.

My crystal ball remains cloudy.

 

[deleted126335]

All true but in what way is this knowledge actionable?

I keep buying 25% international equities per my Investor Policy Statement. They would seem a better buy than domestic equities based on P/E ratio, but continue to underperform month after month.

My crystal ball remains cloudy.

Mine too. But... Specifically if you are an 80/20 kind of guy move to 70/30 because of equity valuations. If you are 25% international move the needle to 35-40%. Tilt a little to Emerging markets. Shorten bond durations a little due to yield curve shape. Total Bond is like 7 years.

Small moves. But can have a big effect when valuations get to extremes... The above are assuming that the future is not too different from the past and we get a decent move towards reversion to the mean.

To quote William Bernstein:

"Market irrationality is like pornography: difficult to define, but you know it when you see it. One doesn’t have to look very far to find violations which most reasonable investors can agree upon and which can be surprisingly long lasting....
...Simply put, although the individual investor will likely come to grief manipulating the selection of individual securities, the judicious adjustment of policy allocations according to expected returns—increasing an allocation slightly when its expected return is very high, decreasing an allocation slightly when it is very low—will on average slightly enhance long-term results. This is simply an amplification of normal rebalancing.
Varying allocations—"timing," if you will—is similar to the consumption of alcohol. It can either enhance or degrade portfolio health; it all depends upon the circumstances and the quantity. When partaken in small, infrequent amounts from a concave vessel, its benefits are small but perceptible. When chugged indiscriminately, it is deadly."​

 

[okayplayer]

My wife and I are in the 100/0 camp currently as our time horizon is >20 years out.

With bond yields low, equities overvalued etc, perhaps the answer is to pay down debt with discretionary income (outside of standard pretax retirement contributions, etc that we make every year) but our only debt is a mortgage (600k) and it is at 2.3%. I am still betting over the long term that money we contribute to VTSAX today (even at today’s super high valuations) will still outperform the 2.3% we are paying on the mortgage.

The problem with deviating from our asset allocation that our IPS spells out, is I have to guess both the top of the market and the bottom (that is, when do I stop contributing as much to US equities and when do I restart contributing to US equities). I doubt my own ability to do this so I am sticking with the plan.

 

[Zekchar]

My wife and I are in the 100/0 camp currently as our time horizon is >20 years out.

With bond yields low, equities overvalued etc, perhaps the answer is to pay down debt with discretionary income (outside of standard pretax retirement contributions, etc that we make every year) but our only debt is a mortgage (600k) and it is at 2.3%. I am still betting over the long term that money we contribute to VTSAX today (even at today’s super high valuations) will still outperform the 2.3% we are paying on the mortgage.

The problem with deviating from our asset allocation that our IPS spells out, is I have to guess both the top of the market and the bottom (that is, when do I stop contributing as much to US equities and when do I restart contributing to US equities). I doubt my own ability to do this so I am sticking with the plan.

Same. My husband and I are 100% Equities and max out 401A, 403B, 457, I401K, and Backdoor Roth IRAs with VTI or Total Stock Market equivalent mutual funds. All additional income is being used to buy real estate for personal use (beach house to get away from the cold) and short term rental approved properties in cool locales to air bnb it. Timeline is 17 years.

 

[anonperson]

Trying to time and make guesses on when to buy and sell is exhausting and generally doesn't work. I know there have been a few posters who claim to do extremely well with buying/ selling penny stocks but even if it's true it is not reproducible.

I know people feel the market is overvalued but that is normal. The market is always at all time highs. This is no different.

If your horizon is at least 10 years out, you need to be at least 70% equities otherwise inflation will eat you alive.

Invest regularly.
Have a stable job and a decent amount of cash to weather any bumps.
Don't overthink things.

 

[gasdoc77]

My wife and I are in the 100/0 camp currently as our time horizon is >20 years out.

With bond yields low, equities overvalued etc, perhaps the answer is to pay down debt with discretionary income (outside of standard pretax retirement contributions, etc that we make every year) but our only debt is a mortgage (600k) and it is at 2.3%. I am still betting over the long term that money we contribute to VTSAX today (even at today’s super high valuations) will still outperform the 2.3% we are paying on the mortgage.

The problem with deviating from our asset allocation that our IPS spells out, is I have to guess both the top of the market and the bottom (that is, when do I stop contributing as much to US equities and when do I restart contributing to US equities). I doubt my own ability to do this so I am sticking with the plan.

At the interest rates you mention, not only would I NOT pay down debt, but if I had home equity I would take it out at those rates and lump it into VTI or VTSAX and forget about it. If the US markets don't beat that fixed rate over a long term, the most valuable asset you have will be your US MD diploma since expatriation (at that point) would become a realistic consideration. That said, I think inflationary monetary policy will be allowed to continue, possibly to the point of negative interest rates, if that is what the economy requires to stoke the GDP furnace. In such a scenario, asset valuations will likely continue to climb.

 

[sevoflurane]

Mine too. But... Specifically if you are an 80/20 kind of guy move to 70/30 because of equity valuations. If you are 25% international move the needle to 35-40%. Tilt a little to Emerging markets. Shorten bond durations a little due to yield curve shape. Total Bond is like 7 years.

Small moves. But can have a big effect when valuations get to extremes... The above are assuming that the future is not too different from the past and we get a decent move towards reversion to the mean.

To quote William Bernstein:

"Market irrationality is like pornography: difficult to define, but you know it when you see it. One doesn’t have to look very far to find violations which most reasonable investors can agree upon and which can be surprisingly long lasting....
...Simply put, although the individual investor will likely come to grief manipulating the selection of individual securities, the judicious adjustment of policy allocations according to expected returns—increasing an allocation slightly when its expected return is very high, decreasing an allocation slightly when it is very low—will on average slightly enhance long-term results. This is simply an amplification of normal rebalancing.
Varying allocations—"timing," if you will—is similar to the consumption of alcohol. It can either enhance or degrade portfolio health; it all depends upon the circumstances and the quantity. When partaken in small, infrequent amounts from a concave vessel, its benefits are small but perceptible. When chugged indiscriminately, it is deadly."​

I am still not heavily invested in emerging markets. Been waiting to see if it will ever outperform vti or some other less risky investment. Seems to be way more volatile during downturns. I know you are super well read, but I just can’t commit that much % of my portfolio.

 

[deleted126335]

I am still not heavily invested in emerging markets. Been waiting to see if it will ever outperform vti or some other less risky investment. Seems to be way more volatile during downturns. I know you are super well read, but I just can’t commit that much % of my portfolio.

Emerging markets are historically the cheapest that they have been as compared to US markets. They are cheap for a reason. They are riskier. Risks do show up. they have greatly underperformed the US market for a decade. After they outperform for awhile is not the time to take a position.

 

[sevoflurane]

At the interest rates you mention, not only would I NOT pay down debt, but if I had home equity I would take it out at those rates and lump it into VTI or VTSAX and forget about it. If the US markets don't beat that fixed rate over a long term, the most valuable asset you have will be your US MD diploma since expatriation (at that point) would become a realistic consideration. That said, I think inflationary monetary policy will be allowed to continue, possibly to the point of negative interest rates, if that is what the economy requires to stoke the GDP furnace. In such a scenario, asset valuations will likely continue to climb.

Probably an unpopular idea, but I have been rather happy with leveraged muni bonds. I just buy the big dips which occur every few years. Yield is 4.6% which is exempt from taxes. Much better than CD’s although more risky.

 

[okayplayer]

Emerging markets are historically the cheapest that they have been as compared to US markets. They are cheap for a reason. They are riskier. Risks do show up. they have greatly underperformed the US market for a decade. After they outperform for awhile is not the time to take a position.

I continue to annually rebalance to keep 10% of my portfolio in EM. It has been painful to see it underperform as long as I’ve been an attending, but I’m going to stick with my plan come hell or high water.

 

[deleted126335]

I continue to annually rebalance to keep 10% of my portfolio in EM. It has been painful to see it underperform as long as I’ve been an attending, but I’m going to stick with my plan come hell or high water.

You and me both. EM is ten percent of my equities.

 

[pgg]

Mine too. But... Specifically if you are an 80/20 kind of guy move to 70/30 because of equity valuations. If you are 25% international move the needle to 35-40%. Tilt a little to Emerging markets. Shorten bond durations a little due to yield curve shape. Total Bond is like 7 years.

Small moves. But can have a big effect when valuations get to extremes... The above are assuming that the future is not too different from the past and we get a decent move towards reversion to the mean.

To quote William Bernstein:

"Market irrationality is like pornography: difficult to define, but you know it when you see it. One doesn’t have to look very far to find violations which most reasonable investors can agree upon and which can be surprisingly long lasting....
...Simply put, although the individual investor will likely come to grief manipulating the selection of individual securities, the judicious adjustment of policy allocations according to expected returns—increasing an allocation slightly when its expected return is very high, decreasing an allocation slightly when it is very low—will on average slightly enhance long-term results. This is simply an amplification of normal rebalancing.
Varying allocations—"timing," if you will—is similar to the consumption of alcohol. It can either enhance or degrade portfolio health; it all depends upon the circumstances and the quantity. When partaken in small, infrequent amounts from a concave vessel, its benefits are small but perceptible. When chugged indiscriminately, it is deadly."​

We just scaled back to about 60/40. On the equity side, half is international. It's unsatisfying. Once the military pension starts (in 253 days) we may tilt toward equity again (value & international), since the pension is very bond-like.

We're less than a year from selling our house and moving, so I'm hoping prices stay high. Then we're going to rent for a (probably short) time to be sure the group I join is all it's cracked up to be. A housing crash in late 2022 would be most welcome. Looking at buying a house on a big plot of land at these crazy low mortage rates. 30 years at 2.x% looks delicious.

 

[GassYous]

We just scaled back to about 60/40. On the equity side, half is international. It's unsatisfying. Once the military pension starts (in 253 days) we may tilt toward equity again (value & international), since the pension is very bond-like.

We're less than a year from selling our house and moving, so I'm hoping prices stay high. Then we're going to rent for a (probably short) time to be sure the group I join is all it's cracked up to be. A housing crash in late 2022 would be most welcome. Looking at buying a house on a big plot of land at these crazy low mortage rates. 30 years at 2.x% looks delicious.

What is big to you?

 

[pgg]

What is big to you?

Depends on the terrain and how close the neighbors are, but ballpark 50-100 acres for the areas we're looking. That's the hope, anyway. I've lived on <1 acre lots my whole life so I'd probably settle for less. We'll have to see if the dream matches what we can find.

The unexpected issue I'm finding is that the places we like tend to have ginormous 8000 sq ft houses on them, or run-down very old houses that would need a bulldozer or Discovery Channel makeover, or crazy stuff we don't need like stables for a dozen horses and 35 cows. It's just me and my wife and some dogs.

 

[Shimmy8]

Anyone else medical director for a med spa/aesthetics? Trying to figure out rates to charge monthly.

I'll review and sign H&Ps for the clients, drugs ordered in my name with my license. Mostly botox, PRP, micro needling. Nothing more invasive.

I know the owners and trust their skills and judgement, so no issue on that end for me personally, though I know a lot will have issue with that. Insurance covered by their company policy.

 

[chessknt]

Anyone else medical director for a med spa/aesthetics? Trying to figure out rates to charge monthly.

I'll review and sign H&Ps for the clients, drugs ordered in my name with my license. Mostly botox, PRP, micro needling. Nothing more invasive.

I know the owners and trust their skills and judgement, so no issue on that end for me personally, though I know a lot will have issue with that. Insurance covered by their company policy.

The first question that comes to mind is why they would elect an anesthesiologist to that position over an outpatient facing specialty. FM is cheaper and more qualified but if you have a personal connection go for it.

 

[chocomorsel]

Maybe I’m in the minority, but I actually enjoy her posting. Don’t run her off. I’d much rather see you leave this thread than her.

Someone resurrected this thread and wanted to show you that I am still here.
How you doing?

 

[deleted126335]

Depends on the terrain and how close the neighbors are, but ballpark 50-100 acres for the areas we're looking. That's the hope, anyway. I've lived on <1 acre lots my whole life so I'd probably settle for less. We'll have to see if the dream matches what we can find.

The unexpected issue I'm finding is that the places we like tend to have ginormous 8000 sq ft houses on them, or run-down very old houses that would need a bulldozer or Discovery Channel makeover, or crazy stuff we don't need like stables for a dozen horses and 35 cows. It's just me and my wife and some dogs.

Think of it as an opportunity at a new career or hobby. Farmer pgg.

 

[pgg]

Think of it as an opportunity at a new career or hobby. Farmer pgg.

I didn't go to 4 years of evil medical school to be called Mr Subsistence Farmer thankyouverymuch