『The Realities of Freelancing, Gig Work and Passive Income in Canada | Get This Ep. 8』のカバーアート

The Realities of Freelancing, Gig Work and Passive Income in Canada | Get This Ep. 8

The Realities of Freelancing, Gig Work and Passive Income in Canada | Get This Ep. 8

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How do you make extra money when living costs keep climbing? What does it really take to turn a side hustle into a sustainable income stream?These are some of the questions we ask in the Extra Money edition of #GetThis, where we break down how to maximize your earnings through gig work, full-time freelancing, and passive (or “less active”) income. Plus, get the financial truths no one tells you about when working for yourself.1. Go gig or go homeFrom freelance writing and participating in research studies to taking on serving jobs to fund major life expenses, side hustles come in all shapes and sizes. We get honest about hustle culture, why Canadians take on gig work, and how side experiences can build valuable "identity capital".2. What does it take to go fully freelance?Transitioning to full-time freelancing brings flexibility, but it also comes with big financial responsibilities. We talk about the realities of managing cash flow and delayed client payments, why building an emergency fund is critical before taking the leap, and the key differences—and tax implications—between operating as a sole proprietor versus incorporating.3. Making passive income work for youIs passive income ever really passive? Financial planner Trevor Theobald discusses passive income (or what he calls “less active” income), realistic financial expectations, managing risk, and tax liabilities on extra earnings. Plus, he breaks down why starting small with high-interest savings accounts, GICs, or market investments instead of jumping straight into big commitments like rental properties, can be a smart move.⏱️ Chapters00:51 The realities of gig work and why Canadians take them on02:27 Side hustle experiences (research studies, speaking gigs, serving)05:00 Balancing multiple jobs and hustle culture09:54 Transitioning to full-time freelancing13:38 Tax benefits of sole proprietorship vs. incorporating16:01 Why freelancers need an emergency fund18:03 Building identity capital through gig work20:02 What is passive income? (with Trevor Theobald)21:14 Finding the right investment for your risk level and goals22:08 How dividend stocks and ETFs work23:57 Realities of buying a rental property for passive income24:55 Starting small with high-interest savings accounts🔗 Resources & linksHow can Gen Alphas and Zers find a job in this economy? https://www.neofinancial.com/the-get/how-can-gen-alphas-and-zers-find-a-job-in-this-economyHow taking multiple jobs beats rejection: https://www.neofinancial.com/the-get/karen-knoxHow to avoid unexpected taxes as a freelancer: https://www.neofinancial.com/the-get/how-to-avoid-unexpected-taxes-as-a-freelancerYour car is a writeoff if you’re self employed: https://www.neofinancial.com/the-get/self-employed-car-write-off-canadaThe risky business of hype buying and resale: https://www.neofinancial.com/the-get/the-risky-business-of-hype-buying-and-resaleDo you have to claim all your income? Like everything? https://www.neofinancial.com/the-get/do-you-have-to-claim-all-your-income-on-your-tax-returnPassive income jobs in Canada: https://www.neofinancial.com/the-get/passive-income-jobsHow to start investing in the stock market in a safe way: https://www.neofinancial.com/the-get/how-to-get-into-the-stock-market-in-a-safe-wayTrevor Theobald on LinkedIn: https://www.linkedin.com/in/trevortheobald_📧 Submit your question to The Get: theget@neofinancial.com📩 Subscribe to The Get newsletter: https://www.neofinancial.com/the-get📲 Follow Neo Financial: YouTube: https://www.youtube.com/channel/UCgnr3DFTnaFfCYRQN5r6Zjw Instagram: https://www.instagram.com/neofinancial/ Tiktok: https://www.tiktok.com/@neofinancial/ Facebook: https://www.facebook.com/neofinancial/ X: https://x.com/Neofinancial LinkedIn: https://www.linkedin.com/company/neo-financial/ #SideHustle #Freelancing #PassiveIncome #HowToMakeMoneyOnline #PersonalFinance #TaxTips #FinancialLiteracy Hosted on Acast. See acast.com/privacy for more information.
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