Few years back we were seeing so many side hustle on the rise, be it Affliate Marketing, Dropshipping, Content Writing etc. Now the problem is with side hustle is that it needs time and energy and when you do it with the full time job you get burnt out and you get tired easily.
The problem with this is that your focus is get diverted into different things and you are not able to get good at anything. And also these have a low ceiling, that means the growth gets stuck and you will not be able to earn more from this. And that's why having one high paying skill is better than these side hustles. When you start working on the high paying skill and you become the top 10 to 20% on it then you can earn quite a good amount of money which is much better than the combined income of side hustles.
I know you have to work hard to get to the top but once you are at the top of your skill money will keep on coming because that skill stays with you. The problem with the side hustle is that they have a learning curve and when the platform or algorithm changes you have to start all over again. But when you acquire some good hig paying skills initially, that can be monetizablr throughout your career.
It also has simpler taxes because you earn from one place and tax gets cut. But with the side hustles taxes are sometimes hard to maintain. Side hustles is totally different than the passive income. Side hustle needs your constant intervention whereas the passive income doesn't require your intervention. So high paying skill and passive income is the best way to create wealth.
Side hustle can be started but it should complement your main skill and thus you will get better in your main skill along with that you can earn money from the side hustle.
