Tip of the Week: Side Hustles & Optimal Allocation of Your Time


Hello, I’m Derek Merkler, fiduciary financial advisor and in this tip of the week video, I’m discussing the concept of side hustles and time allocation.  Now I’m treading slightly into the waters of career and life advice for veterans and I know there is plenty of this already, so this video more focused on the financial planning aspects.

In the world of personal finance podcasts, articles, and books, we hear more and more about the concept of a side hustle.  Another source of income.  Maybe flipping distressed properties, reselling on Amazon, mowing the neighbors’ yards in the evenings… anything that puts a little extra cash in your pocket for you to save or to fund your lifestyle.

Side hustles are a great concept and more power to you if you have one.  Even better is if that side hustle is part of your overall plan to aggressively seek financial independence.  Here’s something to think about, though: is that side hustle the best allocation of your time?  Does it offer the highest return on your invested time versus some other option?

In our day to day and year to year lives, time is usually our most precious resource.  There are 24 hours in a day.  If your goal is more income and you eat, sleep, and work 18 hours per day, what can you do with those other 6 hours that will best increase your income?  Maybe it is that side hustle.  Maybe it’s an extra hour at your primary job a few days per week… or earning additional certifications or education so that you put yourself in a position for faster raises, promotions, and long-term career advancement.

Look, this video is not meant to be dismissive of side hustles or small businesses by any means. It’s only to remind you to consider all of the variables before making that decision.  There’s no point to working 5-10 extra hours per week in a side hustle that nets you $500 per month after your costs if that time and effort could instead earn you raises and promotions in your primary career with far greater increases in your income and benefits.

Lastly, where does your family fit in all of this?  Remember, time is the limiting factor.  You must allocate it wisely and appropriately based on what is most important to you. Time for yourself and your family shouldn’t always be just what is left over or unused.

Thanks for watching. If you like this video, please share it. If you have questions or comments on what I’ve discussed here or if you want to work with me to develop your financial plan, feel free to send me a message.  See you next time!


Thanks for watching!

Please visit my website at:


Remember, the topics discussed in this video are for informational purposes only and that past results do not guarantee future performance. If you would like to discuss your financial situation, please email me at Derek.Merkler@Parsonex.com. 

Advisory services offered through Parsonex Advisory Services, Inc., 8310 S.Valley Hwy, Suite 110, Englewood, CO 80112. 303-662-8700.

Leave a Reply