A Money Buzzword You’ll Actually Like: ‘Doublers’

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Everyone wants the secret to getting paid more.

Here at NextAdvisor, we focus our financial independence coverage on three areas: making more money, reducing your expenses, and investing the difference.

Unusual side hustles and early retirement how-tos get a lot of my attention. But what if you don’t want a side gig, and simply want to make more money at your 9-to-5 job? And how did the people who’ve made it to high-income positions get there?

They’ll rarely tell you. Unless you have a mentor, most executives and high-profile professionals remain tight-lipped about what they make — unless, of course, they can share on condition of anonymity.

That was the condition for 37 interviews conducted by contributor Chris Cornthwaite earlier this year as part of research he hopes to turn into a book one day. All of the professionals he interviewed had doubled their earnings over a period of time through different means — some by getting promoted rapidly, others by changing careers, and others by starting businesses.

Among these “doublers,” Cornthwaite noticed that, despite their widely varied career paths, certain advice came up again and again.

You can read about his five biggest takeaways here:

I Talked to 37 People Who Doubled Their Income. 5 Things They All Had in Common

Of course, if you do want to explore a side hustle, I’m your number one cheerleader. If you’re going to give up nights or weekends to earn extra money, make sure the gig is something you actually love to do. 

For Samantha Hernandez, that’s officiating LGBTQ weddings. And she doesn’t even pitch herself anymore — the wedding companies come to her. 

Writer and NextUp honoree Daniella Flores got the scoop:

How a $50 Certification Lets Her Make $1,000+ a Month Officiating LGBTQ Weddings

Another Controversial Money Phrase

Want something that requires less effort — or no effort at all?

“Passive income” is quite the charged term these days, since most passive income pursuits require upfront investments of time, money, or both. But it’s always good to expand your money vocabulary and understand what types of passive income would be most viable for you. 

Writer Kimanzi Constable rounded up the six most common types of passive income so you don’t have to:

The 6 Categories of Passive Income, Explained

At the end of the day, FIRE culture is all about lifestyle design. 

Take some time before year’s end to reflect on your money goals for 2023, and the right financial independence milestones for you will come into focus.