Managing Money in the Gig Economy with Supal Vora

Hi there!

Managing money and creating wealth building systems can be difficult when you're a serial entrepreneur and/or working in the gig economy. Income can be sporadic at times, so we often don't plan too far ahead and then overspend when we're flush with cash. Supal helps remove some of the shame that surrounds that and gives us practical advice we can implement right away. Your sidehustle can absolutely be your wealth vehicle!

Some of this weeks episode highlights are:
15:38 Goal awareness: Writing down your goals, then regularly reviewing them, adjusting, and tracking your progress, makes it 9 times more likely you will achieve your goals.
28:45 Action is the key! Make the decision to act once you are aware of what is needed. Knowledge without action will not make you successful.
31:13 We tend to be eternal optimists. But it's critical to have both a good offense as well as a good defense! Legacy Planning is a critical piece of your plan for success.

--- Full Raw Transcription of Podcast Below ---

Supal Vora (00:00):
And I think that's why it's so important for people that are in the gig economy to really understand that the onus or the responsibility of saving and planning for our future, not just growing our businesses on our shoulders,

Introduction (00:17):
Welcome to the SideHustle Lounge. If you're looking for flexible ways to earn income, grow your mindset, and live the lifestyle you've always dreamed of, you are in the right place. So lower the lights. Grab your favorite beverage and join your host. Founder of NotaryCoach.com and Amazon bestselling author of Sign and Thrive: How To Make Six Figures As A Mobile Notary And Loan Signing Agent, Bill Soroka.

Bill Soroka (00:52):
Hi everyone, cheers to our special guest today. Supal Vora. Supal is my own personal money manager, and he's been a financial planner for over 18 years. I'm excited to talk today about our topic. It's how to manage money in the gig economy. And you know how it is guys. It's not always consistent. It's sometimes it surges because times are really good. And then sometimes it's like, we're in the middle of a dry spell and it's we question whether it's coming in at all. So Supal is my own personal financial planner. He's helped me really get out of my own head about money, kind of pull my head out of the sand about money. He's also highly referred. He understands the entrepreneurial journey. So super excited. I'm honored to have you here. Thank you.

Supal Vora (01:45):
Hey, Billy. It's great to be here. Thank you so much.

Bill Soroka (01:48):
Yeah. Thanks for taking the time out. I want to tell people a little bit about how we had first met and what really drew me to your services because I've been referred to a lot of money people through the years, but people I really trusted continued to dress sent me to you. But when we met and I hope you can share this story with people when I heard that you have a tortoise and that you included that tortoise in your trust, so it would be taken care of after you and your wife are gone. I just knew you were my kind of people. And I loved that.

Supal Vora (02:32):
Oh, well, thank you, Billy.

Bill Soroka (02:36):
How did the tortoise come up and let's roll right into your entrepreneurial story too? Like how do you know what's in our head?

Supal Vora (02:45):
Yeah. Yeah. Well, the, the tortoise journey, you know, I realized is that I had to make a lifelong decision as a result of an impulse buy. You know, I didn't really think the tortoise purchase through. I was with my friend and went to a reptile shop, fell in love with this little baby tortoise that I saw and we took him home. And then I found out that these tortoises live for 120 years. I have an African Sulcata. So they get to about 125 pounds live till about 125 years. I picked him up. He was about half an ounce, you know, in weight. And that's when I realized that, Hey, this guy is probably gonna, and this guy is going to outlive me and I need to plan for him. And so what we did was that we ended up for Franklin, his that's, our tortoise, and for Franklin, we went ahead and included him into our trust. And then you know, giving to reptile foundations became part of our, our, our, our life story as well. So we're actively involved with the San Diego Tortoise and Turtle Society. And and you know, we had to create a pet trust within our trust to make sure that Franklin would have the money or the people that will be, or the institutions that we've taken care of, Frank upon our death would have the funds needed, necessary to make sure he's okay.

Bill Soroka (04:03):
What an incredible story. Number one, that just demonstrates the importance of planning for this kind of stuff. Cause we don't think about it, but I think it's just a symbol of your integrity to who thinks of their tortoise. And I knew I was in the right place with you. The other, the other reason that I just knew that you and I would be able to work well together is that as a fledgling entrepreneur, you know, going through the years, I've shared my story of failed in business, way more than I've succeeded. I've had 26 different ventures fall apart as part of that money, the money game was almost shameful. You know, I've always felt like I was robbing Peter to pay Paul and shuffling things here, not able to pay this, not able to taxes were a nightmare. And you gave such a safe space to talk about that openly and kind of remove the shame of it. And you shared part of your story too. And I wondered if you share that with our listeners too, about what that looks like for you.

Supal Vora (05:03):
Thanks so much for that. You know, the reason why I can relate through the journey that you've been is because I too have gone through the same experience and been down that road as well. And I think that's why it's so important for people that are in the gig economy to really understand that the onus or the responsibility of saving and planning for our future, not just growing our businesses on our shoulders, you know, when we're working a traditional job, we have a paycheck, our taxes are withheld. We may have a 401k plan. We may even, our employer may even contribute to that, to help our retirement. Some of us may even be really lucky to have pensions, but when we have our own business where we're building our own business, we don't have those luxuries and we have to create that for ourselves.

Supal Vora (05:46):
So the journey that I went down is that when I started my business as a financial advisor, and I've been doing this for 18 years for the first five years, I was an employee and then transitioned into opening my own practice and as a business owner. And what I saw is that my revenue in my business kept steadily growing, but I didn't do a good job even while I was advising other people for their own financial wellbeing. I personally did not go ahead and set up the systems I needed to, to create a proper budget. And I didn't do a good job of planning for my future and planning for my tax planning. Those are the three things that I hurt me. So as I started making more money, my spending just automatically kept growing. And I couldn't understand that how did my income double and I still have no more money left over. And that's when I had to go ahead and put in systems that in spite of myself or my motivation level, at that time, there's a system in place that is going to keep guiding me to success. And that's when I realized that I need to go ahead and put some structures into place. And, and so that's why I really connected with the ability because I can relate.

Bill Soroka (06:57):
Yeah, totally. And even hearing you talk about this, I can feel my own programming and my own baggage coming up. And I was so resistant to hearing about systems and just implementing those types of things. I'd like you to dive into that a little bit, but for our listeners, if you're, if you're triggered by the idea of putting systems in place, I get it. I was so number one, I think most of it Supal, maybe you even can recognize this, but it was shame because putting a system in place when I never knew when the next money was coming in. I mean, I, you know, I worked the side hustle side gigs. I had five or six different businesses going on at the same time. So if people ask me to save money regularly or to invest in something or to do anything regularly, I always got stressed out. So how do you help people overcome that part?

Supal Vora (07:54):
You know, the, the, the way that I ask people to think about it in a way that I asked you to think about it is that we had to put systems into place to be successful in our various businesses inside hustles, without doing something different from the lay person, without putting some hustled or systematic approach in place, we would have just gone accidental success and accidental success is not sustainable. The same way that we had to take a certain set of actions to build our businesses. We also have to take a certain set of actions to become financially stable and wealthy. And, and until our income starts growing, we really think that our primary objective is to just build the business and grow income. We don't realize that that also goes in and creates a whole set of other challenges that we have to be aware of.

Supal Vora (08:40):
The first challenge I would say is learning how to pay ourselves first. And that is where cashflow management comes into play. Now, when we think about paying ourselves first, we tend to think about all of the different things. We're going to buy the different toys. We're going to get the big house. We're going to get the places we're going to travel, but that's not really paying ourselves first. The way I look at paying ourselves first is literally paying ourselves for our future. So that way we can build wealth and developing a whole other side hustle business called wealth creation and having our money work for us. So perhaps perspective is the key is that perhaps we started looking at wealth creation and having our money work for us as another side hustle. I love that in order for that side hustle to work, we have to do a certain set of actions. The first action is cashflow management. And so in order for us to have our money work for us, we have to put some money together for it to start working. And that is that, you know, we can't put the cart before the horse. We got to have the horse first and saving money is the horse. And so, so yeah,

Bill Soroka (09:56):
So Supal - So the first key is to gather a little bit of cash, so you can do something with it. So it's not really saving just for the sake of saving, it's saving to invest, right,

Supal Vora (10:07):
Exactly. Saving to, to build wealth. And, and the reason why we want to do that is because as we know, w you know, we, many of us have gone through many failures before success started happening. It's tough to build our businesses. It's not easy. So if we've worked this hard to get to this point, shouldn't our money be working that hard for us too. And that can be a really prime motivator for us to start saving. And then what I have found is that once we start saving the results, then motivate us automatically because we see our money working for us. And that motivates us to save more.

Bill Soroka (10:43):
I can speak from experience with that. I used to, I was so resistant to this because I like, I like instant results, like a lot of people, people out there. So I was just like, ah, I'm just saving this little bit every month. It's never going to go anywhere, but if you just set it and forget it, and then you look at your results, then your gifts kind of fired up and excited about it. Supal we're on point number one here, cashflow management, would you say there's a certain percentage just as, a blanket statement where somebody could just get started in saving to invest.

Supal Vora (11:17):
It really depends on, you know, what their living expenses are. So what I recommend is we first begin by doing a deep dive of how much are we really needing to live and be comfortable and do all of the things that we do. And what I oftentimes find is that when we do that deep dive there's usually a gap in terms of the, from the income that we're making and the actual expenses that we think we're spending, there's usually a buffer. We have more money, but for some reason that money is not being saved or invested because we haven't put a systemized savings plan. So once we've done that cashflow deep dive, and we identify what that gap is between income and what we think we're spending, that's a good starting point. That differential, there's a good starting point for us to save.

Supal Vora (12:02):
Now, the reason why that's important is to establish what we need to live off of as a baseline is because most, most of us with our various different businesses inside households are very good at creating more wealth. So if we can at least establish a baseline of how much we need to live off of, even if we're paycheck to paycheck right now, as long as we commit to keeping that our lifestyle, as you keep creating wealth, then we can just start saving the differential and bill, you can relate to that. And that's exactly what we did

Bill Soroka (12:35):
Exactly. And that kind of blew my mind. Well, number one, knowing how much it takes for me to survive, blew my mind because as things started working out, right. And I started building more revenue and income. I still had the mindset of that scrappy bootstrapping, a gig gig worker, where I was just kind of spending it as it came in. I had no idea how much my lifestyle costs and our work together helped me realize that. And it kind of blew my mind. I scaled some things back, and then that difference between living well. And then when things start going really well and earning additional revenue, rather than just going out and blowing that it's getting real intentional. And I'm still in this process, but what I want my lifestyle to look like, what I want my next goals to look like and what I want my legacy to be when I'm gone,

Supal Vora (13:38):
Billy, that's such a great word. Do you use, use that word intentional? What I have found is that when we spend accidentally it doesn't give us the peace of mind or joy that we think we would have gotten from that spending. But when we save intentionally with a purpose, I have found, we actually get that very peace of mind and inner joy and satisfaction that we thought we would have gotten from buying that toy or going on that thing or whatever we were going to do. So I think it's all about our intent and intent creates positivity, inner positivity.

Bill Soroka (14:15):
I think you're right. And I'm reminded of another quote that I've seen kind of floating around, but it just in my personal journey through entrepreneurship and serial entrepreneurship, it really stood out because I resisted habits, routine systems intentional planning for so long. I really thought freedom was acting without a plan. I thought freedom was just being all willy nilly being able to do things or spend as it came in, that, I thought, was what freedom was. And that's not what freedom is. That freedom and peace of mind comes with discipline because you're able to do the bigger things. One of the big realizations I had in my financial journey is these opportunities would come along and they're like, Hey, if you've got some cash, I can get you in on this right now, or I can get you in on this deal or this deal, or you can make a huge difference here, but I never had cash reserves because I didn't have these systems in place. So I missed out on a lot of opportunities that would have provided true freedom. And now I have a different understanding of that. Thanks to thanks to you.

Supal Vora (15:30):
Well, thank you, Billy.

Bill Soroka (15:33):
So our first step is cashflow management. What would you say is another key thing for people working in the gig economy to keep in mind,

Supal Vora (15:42):
Building on that intention now, goal awareness. You know, when I first started my career 18 years ago, I stumbled upon a study that Harvard business school had done. And what they did is that they tracked three groups of people and, and over 30 years, and there was a group one and group one where people that stated what their goals were, but they didn't write it down, but they just talked about what they wanted to accomplish over the next 30 years. Then there was a second group where they stated what their goals were and they wrote them down just one time. And then 30 years later, both of those groups were tracked to see what the difference was compared to the goals that the first group had stated 30 years ago, compared to the group that had just written those goals. One time 30 years ago, that second group was three times more successful towards goal achievement because they'd written it down one time in 30 years.

Supal Vora (16:40):
The third group was a group that wrote their goals down and on an ongoing systemized basis would check back with their goals and measure progress. Over 30 years, that group is nine times more successful than the first group that did not write their goals down. And so goal awareness should be our second big thing once we know, okay, this is how much we can realistic live off of. We then want to start thinking about, well, what is it that we really want to accomplish? What is our greater purpose? And then we start so that would be second step too.

Bill Soroka (17:16):
Yeah. How powerful is that? And even if, even if there was a small chance of that even be remotely close, it'd be so worth it to write your goal down. And even if you checked in with it once a year for me, I found value in checking in with those vision and the value statements and my goals every single day. And that really helped me stay on track and stay excited about them. I love that. What would you say would be number three,

Supal Vora (17:44):
Then we need to go ahead and work at, and figuring out, what actions we need to take. So once we have a good understanding of what we're capable of, and from our cashflow standpoint, and then step two, we have determined what we want to achieve. We then want to create a plan of action. And this is where working with a professional can be really useful and there also are online tools that you can take advantage of if you want to try to do it yourself approach, but finding out what action we actually need to take to achieve our goals is really critical. You know, one of the things I oftentimes hear is that people, as their businesses are growing, people get very, very optimistic and they say, you know, I'm going to go ahead and be completely independent and wealthy. In 10 years, 15 years, I'm going to be able to have $5 million.

Supal Vora (18:34):
You know, I used to think that when I was a 24, is that, Hey, by the time I'm 30, I'm going to have a Lamborghini and a couple of million dollars. But when I didn't optimize my actions for that because I didn't know even how much I needed to save, then there was no hope for me to get there. I had to just, the only possible way was to keep side hustling and growing my business to be able to do that. I wasn't going to be able to do that through actually building my wealth. And when I made that change of finding out, Hey, what are the specific actions I need to do then that really made me realize that, wow, you know, I have to save a good amount of money if I'm going to hit my goals. And I may not have the luxury of time if I want to go ahead and achieve them in the near future. So I would say that is a very important step three is now that we know our goals, we need to figure out what, what is it that we actually need to do?

Bill Soroka (19:28):
I love that. I love that. And you said something about seeking some some good advice on that. And of course we could do it, the do your, do it yourself, which I think is really important. People understand their money anyway, but what do you say to people who think they can't afford good advice?

Supal Vora (19:49):
You, you know, now we have so many different tools available whether it'd be working with a professional financial advisor or online tools that can go ahead and provide, provide it for us. But the way I ask is that how about what are all the other things that we're affording on a day-to-day basis that we're spending money on compared to having a coach or a mentor working with you on an ongoing basis? You know, I'll use coffee as a, as a, is it easy one? You know, I see regularly people spending a couple hundred bucks a month on coffee, the average financial advisor, you know, it doesn't cost that much. And we can ask ourselves is having a coach that's a financial advisor worth it to me compared to a cable bill. Is it worth it to me, compared to a couple of cups of coffee.

Supal Vora (20:38):
And there are things that are relatively frivolous that we regularly prioritize over things that could really be impactful for us. And I think that the cost of not having someone or in tool that could help us is much greater than the cost of actually having someone that can help us over the long-term. What I found is typically just in the first year or so from the advice and the different things that I give my clients, I'm more than able to make up any of my costs. Just from the advice I'm able to give them

Bill Soroka (21:12):
Yeah. What a good point. And I love if we tie that in what you said earlier, where we say wealth creation is one of our side hustles, then a financial planner would be like your business coach in that side hustle, showing you the pitfalls, the things to avoid the things you should be thinking about or thinking about in the future. Awesome. Now, now, since we're on the topic though, there's also a lot of bad advice out there, right? If you had one tip for an entrepreneur or a side hustler, when they're going out and looking for some advice would be, be one thing that you would tell them to avoid or to look out for.

Supal Vora (21:54):
You know, I would always look up the regulatory record of any professional that you're hiring. You know, the in the securities business, financial advisors are really regulated. The financial industry regulatory authority, or FINRA. They have a website FINRA.org. You can type up the name of any advisor that you're talking to and see what the regulatory history is. And I also recommend working with someone that's tenured, you know, as much as I'm proud of, of the fact that, of all of the clients that I helped when I was in my first year and second year in the career, there are a lot of things that I could have done better that I know because of wisdom. So I would say 10 years is very important, you know, and an advisor - someone with experience, someone that's walked through the journey that you've maybe walked through that understands what your goals are that has a clean regulatory record. And that's someone that you really feel is motivated for your success. You know, that's very important.

Bill Soroka (22:56):
Yeah. Excellent point. Anytime I look for a mentor or advice, I'd like to get advice from somebody who's sees things from the entrepreneur perspective, because it is different. And sometimes it's a little on the crazy side and it's just different than the way an employee might think. So I love that you even brought that up. I know some of the challenges that people in the gig economy struggle with because there is some sometimes has been inconsistent income and things like that is their credit rating, or maybe their credit card debt. Can you touch on that a little bit?

Supal Vora (23:33):
Absolutely. And that's, that's where, you know, our cashflow planning is really critical is that when we are making our income is high and likely we're going through a very, very strong economic recovery right now. So most people in the gig economy should do really well in the coming years. It's extra important for us to make sure that we have the financial reserves and capability. It's one thing to have bad credit when we're building our business, we have no money we're struggling and we have extremely variable income. But what I have also found is that there, when that variable income switches to high-income, our habits don't change. And then we just continue. And, and that's where, where I have found we need to make that transition is that when our income is high, it's mission critical for us to create that foundation for us, so that we don't go back into that trap because access to debt at low interest rates is one of the most powerful tools for wealth creation. So when we shut ourselves off from access to that, that's one major side hustle that we've turned, shut the door on, and we don't want that.

Bill Soroka (24:44):
Excellent. Which kind of leads me to to feed off of what you just said. We are aware the gig economy can expect a nice surge in the coming years. What's your plan on taxes.

Supal Vora (24:57):
This is where it's extra important. What happens is that as we make more money, our tax bills go up, they don't go down. And our protects percentage rate goes up as small business owners. There are a whole host of different tools that are available to us that most people don't have access to in which we can reduce our tax bill. So working with a qualified tax advisor, a CPA that can help you on saving on taxes now. And where we do is we go ahead and help create things like workplace retirement plans that can help you to save on taxes now, as well as for the future. So this is something that's really important. I have found that most people as they're building their businesses, don't do quarterly estimated tax bill payments. And, you know, if we're making 30,000 or 40,000 a year, and, you know, usually at the beginning when we're building our businesses or businesses are losing money.

Supal Vora (25:52):
So we get habituated to using whatever revenue comes out of the business for our living expenses, we don't pay tax bills. And then suddenly we have an income spike. So income could go from $30,000 to $150,000, but we still have not gotten ourselves in the habit of paying quarterly taxes. So then suddenly we have a $50,000 tax bill, and I have been down that journey myself. It's very painful because what happens is that in order to pay that tax bill, you have to earn money to do that. And that money that you earned is also taxable. So then you have to pay taxes on that. So in order to reconcile the tax bill, sometimes it just gets more and more painful over time. And that is a habit change that if we don't make our own success will end up making us victims, we'll become a victim of our own success from a tax standpoint. So that is something that every business person needs to be mindful of. If they don't make that transition, they're going to run into this,

Bill Soroka (26:53):
I think too, that and maybe you can speak to the mindset shift from that. Because I think there's from the employee standpoint point, and even from the like bootstrapping entrepreneur standpoint, we're always looking to lower our tax bills. So we, there, it can be a trap to get into that mindset of resenting taxes. Can you speak to a little bit about that? Yeah,

Supal Vora (27:22):
It definitely can. I I've been done that mindset as well, but, you know, from some of my clients, I've found that my wealthiest clients, they oftentimes are deep down inside... They're kind of proud about how much they have to pay in taxes, because they know that they have to be that successful to be able to do that. You know? So I think it's very important for us to take advantage of every legal tool that's available at our disposal to reduce our tax bill. We owe that to ourselves, but then after, at some point, if we're successful, you know, there's going to be a tax bill that has to be paid, and there's no way around it. Once we've taken advantage of every tool at our disposal. And if we don't pay that tax bill, you know, there's no, there's no out, it must be paid. So at that point, you know, whether we like it or not, it doesn't matter. And if w if we have to do it, we might as well learn to like it.

Billy Soroka (28:16):
I love that. So we've talked about cashflow management, we've talked about goals and being aware of them and keeping up with them and in our actions needed. We also talked a little bit about taxes and planning. What would you say is number four

Supal Vora (28:32):
Making the decision to do the action. I have found many times that we don't make the decision to do the action. Once we become aware of all the things that we do and knowledge without action is not going to make us successful. Totally worthless, right? Totally worthless. So action is the key. So what, and what I have found is my motivation level to act will change based on my life circumstance. So if I'm really busy in my business, I may not be as motivated to act on other things because my time is distracted. If I've got a personal issue going on, I may not be as motivated because I'm distracted. So that's where I've found that having that professional relationship or that accountability partner is really important because they're going to keep that motivation up, even when we're going through our life stages and ups and downs, so that our actions don't stop.

Bill Soroka (29:26):
That's huge. So the accountability partner or the professional is a key ingredient to that, right? It is, it is absolutely. What do you say to those, you know, so many people that are listening, I know are committed. They've got a dream or a vision that's bigger than them. They've got a compelling 'why' that has to do with their family, taking care of their family, taking care of their kids helping organizations that they're passionate about. In other words, their legacy, what do you have? What suggestions do you have for leaving a legacy of wealth and abundance?

Supal Vora (30:07):
Yeah, absolutely. You know, we all are doing everything because we have a greater purpose and we want to go ahead and leave a legacy behind. So legacy planning comes in two ways. One during our accumulation years, if suddenly something happened to us where we're no longer able to do our side households, because we're not able to, because of mental health issues, physical health issues, that disability, then that's going to create economic damage for the people that are dependent upon us. If we died prematurely, that's going to create economic damage on the people that are dependent on us. So during our accumulation years, we really have to look at legacy planning in the form of protection planning. How do we protect the people that we care about the most in the event that something unforeseen happens. And that's where insurance planning comes into play.

Supal Vora (30:59):
And, you know, typically as business owners, we are eternal optimists. So we don't like to plan for what's going to happen if things go wrong, but this is, this is mission critical. And the best analogy I've been able to come up with is that whenever you have a sports team line up, but to stay a regular football team, they're always going to have an offense and a defense. So if you have the best office in the world, and every time they line up, they're scoring touchdowns left and right, but you have the worst defense on the planet as well. It's not going to matter because the other team, even if their offense is mediocre is gonna keep scoring the same number of points you're not going to get anywhere. So the planning, the goal planning, the cashflow management, the tax planning, the investment planning, the motivating decision to act, this is our offense, but we could do all those things, right.

Supal Vora (31:48):
And then an unforeseen event could happen. We need that defense in place. So that's how I asked to think about protection planning. But once we have accumulated wealth, then we need to also think about, well, what is our legacy going to be? And that's where estate planning is really critical. And if we don't have an estate plan in place and we died and we're married more than likely, everything's going to go to our significant other, our spouse. But if we're not married or we both die as in you and your spouse, everything's going to go through probate. And depending on what state you live, it could be a really difficult process. And there could be heavy fees associated with it. It's expensive too. Absolutely it's expensive. And so that's where having a living trust in which you've gotten a chance to really think about what your legacy is going to be as important.

Supal Vora (32:44):
And I have found that this is an area that we tend to have an off switch. When we start thinking about our mortality, something in our head turns off and we changed subjects. And the older we get, what I have found the off switch gets more powerful and our tendency to avoid gets more. This is something that I think is healthy, that we should be thinking about our legacy. And I think charitable giving is also a big part of that. There are many different tools that we can use to take advantage of charitable giving as a legacy, and then also different things that we can do now that could help us from a tax standpoint.

Bill Soroka (33:22):
Awesome. Huge! And I love that we came full circle on the legacy, the trust and Franklin, your tortoise, being taken care of for the remainder of his years. Supal, as we come up to the end of our time. Is there any other advice that you have for us gig workers out here in the gig economy hustling towards a dream?

Supal Vora (33:46):
You know, keep the hustle going, keep the dream going. Don't sell yourself short, be an eternal optimist, but know that if we're going to the same way that in order to be successful in your, in your business, it requires you to take action, have a vision, a goal. You need to have a vision, a goal, and take action for your financial wellbeing as well. I really suggest that you start looking at wealth creation and having your money work for you as a side hustle that may keep your motivation really high to do this. And I highly suggest that you have either accountability partners as in other business owners that are on the same boat that you're in, where you can talk and share ideas. And then I also recommend having a professional coach such as myself that can help you as well. And I think if you do these actions, you're going to be really successful.

Bill Soroka (34:40):
I love it Supal! It almost feels inevitable to succeed with that level of support and clarity and where you're going. And I love my biggest takeaway from our conversation is turning wealth creation into its own side hustle. There's something that, that, that shifted for me. So it's not this task that has to be managed. It is actually a business revenue source for me that I can be passionate about. And I think that was huge for me. And I hope it was for our listeners as well. Guys, if you'd like to connect to suitable you can visit the VIP room at side hustle, lounge.com, and I'll have his contact information in there for you plus a link to where you can learn more about him and all the great content that he puts out. Supal - well, thank you so much for joining us and dropping these gems today. You got me fired up and about money again.

Supal Vora (35:38):
Hey, Billy. It was so good hanging out with you and thanks for helping me get out of my shell, so to speak.

Billy Soroka (35:42):
Thanks Supal!

Supal Vora as been a Private Wealth Advisor for 18 years (he's also an amateur pizzaaioli). You can reach him direct at 951-850-0552 for questions about either of those ventures. 

PS, Fellow pet lovers, If you’ve worked hard to put money aside to invest in the right side-hustle or expansion project, protect your cash reserve with the 2021 Forbes Advisor #1 Pet Insurance company, Toto. They reimburse up to 90% of unexpected vet bills and you can use any veterinarian you want to. I’ve tried a few of these insurance companies over the years, and Toto has been the easiest and most transparent I’ve ever found. Quotes and policies with Toto Pet Insurance also help support The SideHustle Lounge Podcast. Check them out for yourself and get a free quote HERE. 

Intro and outro music licensed through Lofi Panda

Production, publishing and marketing of podcast by Get Known Podcast Service