Exploring Barriers to Entry in Side Hustles and Managing Debt for Financial Growth

11min Snip

00:00

Play full episode

Summary

Transcript

Episode notes

The chapter delves into the concept of barriers to entry in side hustles, comparing low and high barriers with examples from various industries like Wag and Uber. It also discusses the transition from temporary cash grab side hustles to potential full-time businesses and the importance of pursuing passion projects. The conversation further explores the management of debt as a tool for financial growth, challenging negative perceptions and emphasizing individual circumstances and opportunities for long-term financial outcomes.

#493: Do you ever wonder what happens behind closed doors on Wall Street?

Vivian Tu, also known as Your Rich BFF, is here to spill the tea.

Vivian grew up in a modest immigrant family. After college, she found herself working insane hours on Wall Street after college.

While working on Wall Street, Vivian saw some weird things.

Once, a coworker stumbled hungover into the office after a trip to Atlantic City, carrying a duffel bag with thousands of dollars in cash inside.

Vivian realized that there's a group of high-income and high-net-worth people who handle money in drastically different ways than she learned in her frugal upbringing.

She learned about investing, taxes, legal loopholes. She discovered new ways of thinking about money.

She shares these insights -- gleaned from her Wall Street days -- in today's podcast episode.

Resources mentioned:

Book: Rich AF: The Winning Money Mindset That Will Change Your Life

Attend the LIVE Recording of Afford Anything's 500th Episode!

https://affordanything.com/live500

Learn more about your ad choices. Visit podcastchoices.com/adchoices