Today Laura Adams joins Kirk to share her journey into personal finance, podcasting, and authorship with her new book Money-Smart Solopreneur. She shares how she transitioned from corporate finance aspirations to helping individuals improve their money management through writing and podcasting. She discusses the evolution of book publishing, the growing need for supplemental income due to inflation and stagnant wages by starting side businesses, and practical advice on identifying marketable skills. Today we discuss...
- Laura Adams has worked in personal finance for nearly 15 years, transitioning from a corporate finance path after noticing even smart professionals struggled with money basics.
- Her passion for financial education led her to blogging and podcasting in the mid-2000s, eventually growing the "Money Girl" community.
- Writing books is a major undertaking that requires deep effort, especially when promotion is involved.
- Her dream of seeing her book on bookstore shelves motivated her to pursue traditional publishing, despite the changing landscape of book promotion.
- How the financial pressures facing many Americans today, especially due to inflation.
- Laura encouraged people to consider starting a side business to supplement income and access tax advantages.
- Side businesses should ideally be enjoyable since they often take place during personal time.
- Starting small and testing the market with minimal upfront investment is a smart approach to launching a side hustle.
- People should leverage existing skills and interests when brainstorming side business ideas.
- If your goal is quick income, practical gigs like freelancing, tutoring, or becoming a virtual assistant may be for you.
- Many people feel intimidated by starting a business but advised against overthinking early-stage logistics.
- Wait until a side business earns around $10,000 annually before worrying about formal structures like LLCs or accountants.
- Market research through conversation can spark ideas and reveal where your talents might fill a gap.
- Iterative experimentation are a great way to discover what business ideas are both enjoyable and viable.
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Today's Guest: Laura Adams
Laura Adams is an award-winning author, speaker, host of the Money Girl podcast (over 43 million downloads), and founder of The Money Stack newsletter. She was named one of Empower's "Top 50 Women in Personal Finance." As a frequent source for the national media, millions of viewers and readers benefit from her practical financial advice. Laura’s mission is to empower consumers to make smart money decisions through her speaking, spokesperson, and advocacy work. She received an MBA from the University of Florida and lives in Vero Beach, Florida.
Laura's Online Presence: